Document and Entity Information
Document and Entity Information | 12 Months Ended |
Mar. 31, 2018shares | |
Document Information [Line Items] | |
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 | MMYT |
Entity Registrant Name | MakeMyTrip Ltd |
Entity Central Index Key | 1,495,153 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Ordinary Shares, Undefined [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 59,343,426 |
Class B Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 42,638,206 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Assets | ||
Property, plant and equipment | $ 13,690 | $ 15,334 |
Intangible assets and goodwill | 1,147,517 | 1,170,727 |
Trade and other receivables, net | 1,929 | 2,176 |
Investment in equity-accounted investees | 16,316 | 18,212 |
Other investments | 6,170 | 5,791 |
Term deposits | 165 | 20,162 |
Non-current tax assets | 24,476 | 19,306 |
Other non-current assets | 14,607 | 29,658 |
Employee benefits | 229 | |
Total non-current assets | 1,224,870 | 1,281,595 |
Inventories | 596 | 251 |
Current tax assets | 25 | 81 |
Trade and other receivables, net | 56,386 | 35,108 |
Term deposits | 202,170 | 75,511 |
Other current assets | 92,542 | 50,232 |
Cash and cash equivalents | 187,647 | 101,704 |
Assets held for sale | 1,220 | 302 |
Total current assets | 540,586 | 263,189 |
Total assets | 1,765,456 | 1,544,784 |
Equity | ||
Share capital | 52 | 46 |
Share premium | 1,960,691 | 1,607,373 |
Reserves | 3,232 | 952 |
Accumulated deficit | (515,850) | (298,581) |
Share based payment reserve | 78,804 | 61,410 |
Foreign currency translation reserve | 31,705 | 33,601 |
Total equity attributable to equity holders of the Company | 1,558,634 | 1,404,801 |
Non-controlling interests | 298 | 661 |
Total equity | 1,558,932 | 1,405,462 |
Liabilities | ||
Loans and borrowings | 424 | 523 |
Employee benefits | 3,721 | 2,946 |
Deferred revenue | 91 | 265 |
Deferred tax liabilities, net | 115 | 159 |
Other non-current liabilities | 2,201 | 1,027 |
Total non-current liabilities | 6,552 | 4,920 |
Loans and borrowings | 228 | 226 |
Trade and other payables | 181,430 | 121,563 |
Deferred revenue | 1,262 | 3,045 |
Other current liabilities | 17,052 | 9,568 |
Total current liabilities | 199,972 | 134,402 |
Total liabilities | 206,524 | 139,322 |
Total equity and liabilities | $ 1,765,456 | $ 1,544,784 |
Consolidated Statement of Profi
Consolidated Statement of Profit or Loss and Other Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | |||
Other revenue | $ 67,902 | $ 14,848 | $ 6,169 |
Total revenue | 675,256 | 447,616 | 336,054 |
Other income | 435 | 363 | 1,014 |
Service cost | |||
Procurement cost of hotel and packages services | 169,347 | 173,919 | 165,264 |
Other cost of providing services | 6,530 | 1,770 | |
Personnel expenses | 114,157 | 73,736 | 49,018 |
Marketing and sales promotion expenses | 451,818 | 224,424 | 108,966 |
Other operating expenses | 120,566 | 81,585 | 67,954 |
Depreciation, amortization and impairment | 32,712 | 29,702 | 10,923 |
Result from operating activities | (219,439) | (135,387) | (66,827) |
Finance income | 5,189 | 45,268 | 1,586 |
Finance costs | 3,901 | 18,289 | 20,327 |
Net finance income (costs) | 1,288 | 26,979 | (18,741) |
Impairment in respect of an equity accounted investee | 0 | 0 | (959) |
Share of loss of equity-accounted investees | (1,998) | (1,702) | (1,860) |
Loss before tax | (220,149) | (110,110) | (88,387) |
Income tax expense | (91) | (193) | (155) |
Loss for the year | (220,240) | (110,303) | (88,542) |
Items that will never be reclassified subsequently to profit or loss: | |||
Remeasurement of defined benefit (asset) liability | (422) | (266) | (149) |
Items that are or may be reclassified subsequently to profit or loss: | |||
Foreign currency translation differences on foreign operations | (1,915) | 48,618 | (565) |
Net change in fair value of available-for-sale financial assets | 2,280 | (809) | 752 |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | 365 | 47,809 | 187 |
Other comprehensive income (loss) for the year, net of tax | (57) | 47,543 | 38 |
Total comprehensive loss for the year | (220,297) | (62,760) | (88,504) |
Loss attributable to: | |||
Owners of the Company | (218,412) | (110,168) | (88,518) |
Non-controlling interests | (1,828) | (135) | (24) |
Loss for the year | (220,240) | (110,303) | (88,542) |
Total comprehensive loss attributable to: | |||
Owners of the Company | (218,450) | (62,629) | (88,465) |
Non-controlling interests | (1,847) | (131) | (39) |
Total comprehensive loss for the year | $ (220,297) | $ (62,760) | $ (88,504) |
Loss per share (in USD) | |||
Basic | $ (2.18) | $ (2.09) | $ (2.12) |
Diluted | $ (2.18) | $ (2.09) | $ (2.12) |
Air Ticketing [Member] | |||
Revenue | |||
Revenue from operations | $ 167,391 | $ 118,514 | $ 78,172 |
Hotels and Packages [Member] | |||
Revenue | |||
Revenue from operations | $ 439,963 | $ 314,254 | $ 251,713 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Thousands | Total | Share Capital [Member] | Share Premium [Member] | Reserve for Own Shares [Member] | Fair Value Reserves [Member] | Accumulated Deficit [Member] | Share Based Payment Reserve [Member] | Foreign Currency Translation Reserve [Member] | Total [Member] | Non-Controlling Interests [Member] |
Beginning balance at Mar. 31, 2015 | $ 157,854 | $ 21 | $ 242,662 | $ (438) | $ 1,009 | $ (100,181) | $ 28,612 | $ (14,427) | $ 157,258 | $ 596 |
Total comprehensive income (loss) for the year | ||||||||||
Loss for the year | (88,542) | (88,518) | (88,518) | (24) | ||||||
Other comprehensive income (loss) | ||||||||||
Foreign currency translation differences | (565) | (550) | (550) | (15) | ||||||
Net change in fair value of available-for-sale financial assets | 752 | 752 | 752 | |||||||
Remeasurement of defined benefit (asset) liability | (149) | (149) | (149) | |||||||
Other comprehensive income (loss) for the year, net of tax | 38 | 752 | (149) | (550) | 53 | (15) | ||||
Total comprehensive loss for the year | (88,504) | 752 | (88,667) | (550) | (88,465) | (39) | ||||
Contributions by owners | ||||||||||
Share-based payment | 13,740 | 13,740 | 13,740 | |||||||
Issue of ordinary shares on exercise of share based awards | 14 | 4,425 | (4,411) | 14 | ||||||
Transfer to accumulated deficit on expiry of share based awards | 38 | (38) | ||||||||
Own shares acquired | (11,093) | (11,093) | (11,093) | |||||||
Re-issue of own shares to settle the financial Liability | 5,598 | 1,645 | 3,953 | 5,598 | ||||||
Total contributions by owners | 8,259 | 6,070 | (7,140) | 38 | 9,291 | 8,259 | ||||
Changes in ownership interests in subsidiaries that do not result in a loss of control | ||||||||||
Acquisition of non-controlling interest without a change in control | 593 | (36) | 557 | (557) | ||||||
Total changes in ownership interests in Subsidiaries | 593 | (36) | 557 | (557) | ||||||
Total transactions with owners | 8,259 | 6,070 | (7,140) | 631 | 9,291 | (36) | 8,816 | (557) | ||
Ending balance at Mar. 31, 2016 | 77,609 | 21 | 248,732 | (7,578) | 1,761 | (188,217) | 37,903 | (15,013) | 77,609 | |
Total comprehensive income (loss) for the year | ||||||||||
Loss for the year | (110,303) | (110,168) | (110,168) | (135) | ||||||
Other comprehensive income (loss) | ||||||||||
Foreign currency translation differences | 48,618 | 48,614 | 48,614 | 4 | ||||||
Net change in fair value of available-for-sale financial assets | (809) | (809) | (809) | |||||||
Remeasurement of defined benefit (asset) liability | (266) | (266) | (266) | |||||||
Other comprehensive income (loss) for the year, net of tax | 47,543 | (809) | (266) | 48,614 | 47,539 | 4 | ||||
Total comprehensive loss for the year | (62,760) | (809) | (110,434) | 48,614 | (62,629) | (131) | ||||
Contributions by owners | ||||||||||
Share-based payment | 26,849 | 26,674 | 26,674 | 175 | ||||||
Issue of ordinary shares on exercise of share based awards | 171 | 1 | 18,275 | (18,105) | 171 | |||||
Transfer to accumulated deficit on expiry of share based awards | 70 | (70) | ||||||||
Own shares acquired | (2,050) | (2,050) | (2,050) | |||||||
Total contributions by owners | 1,389,996 | 25 | 1,358,641 | 7,578 | 70 | 23,507 | 1,389,821 | 175 | ||
Re-issue of own shares upon conversion of convertible notes (refer note 26 and 28) | 10,627 | 999 | 9,628 | 10,627 | ||||||
Shares issued upon conversion of convertible notes (refer note 26 and 28) | 148,106 | 5 | 148,101 | 148,106 | ||||||
Business combination (refer note 7(a)) | 1,206,293 | 19 | 1,191,266 | 15,008 | 1,206,293 | |||||
Changes in ownership interests in subsidiaries that do not result in a loss of control | ||||||||||
Acquisition of non-controlling interest without a change in control | 617 | 617 | ||||||||
Total changes in ownership interests in Subsidiaries | 617 | 617 | ||||||||
Total transactions with owners | 1,390,613 | 25 | 1,358,641 | $ 7,578 | 70 | 23,507 | 1,389,821 | 792 | ||
Ending balance at Mar. 31, 2017 | 1,405,462 | 46 | 1,607,373 | 952 | (298,581) | 61,410 | 33,601 | 1,404,801 | 661 | |
Total comprehensive income (loss) for the year | ||||||||||
Loss for the year | (220,240) | (218,412) | (218,412) | (1,828) | ||||||
Other comprehensive income (loss) | ||||||||||
Foreign currency translation differences | (1,915) | (1,896) | (1,896) | (19) | ||||||
Net change in fair value of available-for-sale financial assets | 2,280 | 2,280 | 2,280 | |||||||
Remeasurement of defined benefit (asset) liability | (422) | (422) | (422) | |||||||
Other comprehensive income (loss) for the year, net of tax | (57) | 2,280 | (422) | (1,896) | (38) | (19) | ||||
Total comprehensive loss for the year | (220,297) | 2,280 | (218,834) | (1,896) | (218,450) | (1,847) | ||||
Contributions by owners | ||||||||||
Share-based payment | 44,860 | 44,874 | 44,874 | (14) | ||||||
Issue of ordinary shares on exercise of share based awards | 46 | 1 | 27,462 | (27,417) | 46 | |||||
Transfer to accumulated deficit on expiry of share based awards | 63 | (63) | ||||||||
Total contributions by owners | 370,767 | 6 | 353,318 | 63 | 17,394 | 370,781 | (14) | |||
Issue of ordinary shares in placement offering (refer note 26) | 325,861 | 5 | 325,856 | 325,861 | ||||||
Changes in ownership interests in subsidiaries that do not result in a loss of control | ||||||||||
Contribution by non-controlling interests | 3,000 | 1,502 | 1,502 | 1,498 | ||||||
Total changes in ownership interests in Subsidiaries | 3,000 | 1,502 | 1,502 | 1,498 | ||||||
Total transactions with owners | 373,767 | 6 | 353,318 | 1,565 | 17,394 | 372,283 | 1,484 | |||
Ending balance at Mar. 31, 2018 | $ 1,558,932 | $ 52 | $ 1,960,691 | $ 3,232 | $ (515,850) | $ 78,804 | $ 31,705 | $ 1,558,634 | $ 298 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities | |||
Loss for the year | $ (220,240) | $ (110,303) | $ (88,542) |
Adjustments for: | |||
Depreciation | 4,357 | 5,149 | 2,724 |
Amortisation of intangible assets | 25,481 | 9,386 | 6,032 |
Impairment of intangible assets / capital work-in-progress | 2,874 | 15,167 | 2,167 |
Impairment in respect of an equity-accounted investee | 959 | ||
Net loss on disposal of property, plant and equipment | 70 | 46 | 380 |
Income on license acquired | (886) | ||
Intangible assets written off | 356 | ||
Net finance cost (income) | (1,288) | (26,979) | 18,741 |
Share of loss of equity-accounted investees | 1,998 | 1,702 | 1,860 |
Share based payment | 44,860 | 26,795 | 13,685 |
Income tax expense | 91 | 193 | 155 |
Change in inventories | (317) | 268 | 1,386 |
Change in trade and other receivables | (23,228) | 2,608 | (3,872) |
Change in other assets | (25,263) | 4,849 | (21,766) |
Change in trade and other payables | 62,374 | (34,399) | 5,273 |
Change in employee benefits | 366 | 588 | 224 |
Change in deferred revenue | (1,964) | (2,798) | (3,450) |
Change in other liabilities | 9,206 | 1,447 | 1,906 |
Income tax paid, net | (5,211) | (2,176) | (2,976) |
Net cash used in operating activities | (125,478) | (108,457) | (66,000) |
Cash flows from investing activities | |||
Interest received | 3,048 | 2,537 | 2,919 |
Proceeds from sale of property, plant and equipment | 335 | 98 | 228 |
Redemption of term deposits | 115,058 | 83,634 | 63,382 |
Investment in term deposits | (221,639) | (10,000) | (140,008) |
Acquisition of property, plant and equipment | (4,258) | (8,756) | (5,696) |
Payment for business acquisition, net of cash acquired (refer note 7(a)) | 102,814 | (1,220) | |
Proceeds from sale of assets held for sale | 302 | ||
Acquisition of other investment | (99) | ||
Investment in equity-accounted investees | (1,090) | (17,836) | |
Acquisition of intangible assets | (7,837) | (6,226) | (5,413) |
Net cash generated from (used in) investing activities | (115,090) | 163,011 | (103,644) |
Cash flows from financing activities | |||
Proceeds from issue of shares (refer note 7(a)) | 8,752 | ||
Proceeds from issuance of convertible notes | 180,000 | ||
Direct cost incurred in relation to convertible notes | (2,730) | ||
Proceeds from issue of share capital in placement offering | 330,000 | ||
Direct cost for issue of shares in placement offering | (4,139) | ||
Repurchase of own shares | (2,050) | (11,093) | |
Proceeds from issuance of shares on exercise of share based awards | 46 | 171 | 14 |
Contribution by (acquisition of) non-controlling interests | 3,000 | (400) | (850) |
Proceeds from (repayment of) bank loans, net | (96) | 138 | 146 |
Payment of finance lease liabilities | (7) | (16) | |
Interest paid | (912) | (4,445) | (859) |
Net cash generated from financing activities | 327,899 | 2,159 | 164,612 |
Increase (Decrease) in cash and cash equivalents | 87,331 | 56,713 | (5,032) |
Cash and cash equivalents at beginning of the year | 101,704 | 46,273 | 49,857 |
Effect of exchange rate fluctuations on cash held | (1,388) | (1,282) | 1,448 |
Cash and cash equivalents at end of the year | $ 187,647 | $ 101,704 | $ 46,273 |
Reporting Entity
Reporting Entity | 12 Months Ended |
Mar. 31, 2018 | |
Reporting Entity [Abstract] | |
Reporting Entity | MAKEMYTRIP LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Amounts in USD thousands, except per share data and share count) 1) REPORTING ENTITY MakeMyTrip Limited (the “Parent Company”) together with its subsidiaries and equity-accounted investees (collectively, “the Company” or the “Group”) is primarily engaged in the business of selling travel products and solutions through the subsidiaries in India, the U.S., Singapore, Malaysia, Thailand, the U.A.E, Peru, and Colombia. The Group offers its customers the entire range of travel services including ticketing, tours and packages, and hotels. The Company is a public limited company incorporated and domiciled in Mauritius and has its registered office at SGG Corporate Services (Mauritius) Limited, Les Cascades Building, 33 Edith Cavell Street, Port Louis, Mauritius. The Company’s ordinary shares representing equity shares are listed on the NASDAQ Stock Exchange. |
Basis of Accounting
Basis of Accounting | 12 Months Ended |
Mar. 31, 2018 | |
Basis Of Accounting Abstract | |
Basis of Accounting | 2) BASIS OF ACCOUNTING (a) Statement of Compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). Accounting policies have been applied consistently to all periods presented in these financial statements. The consolidated financial statements were authorized for issue by the Group’s Board of Directors on June 19, 2018. (b) Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis except for the following material items: • derivative financial instruments are measured at fair value; • available-for-sale financial assets are measured at fair value; and • net defined benefit (asset) liability is measured at fair value of plan assets less the present value of the defined benefit obligation. (c) Functional and Presentation Currency These consolidated financial statements are presented in U.S. dollar (USD), which is the parent Company’s functional currency. All amounts have been rounded to the nearest thousand, unless otherwise indicated. The functional currency for subsidiaries is the currency of the primary economic environment in which each subsidiary operates and is normally the currency in which each subsidiary primarily generates and expends cash. (d) Use of Estimates and Judgements The preparation of these consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised in the period in which the estimates are revised and in any future periods affected. Information about significant areas of estimation/uncertainty in applying accounting policies that have the most significant effects on the amounts recognised in the consolidated financial statements are as follows: • Note 3(d),9,23 and 25 Available for sale financial assets • Note 3(e) and 17 Property, plant and equipment • Note 3(f), 3(i) and 18 Useful life of intangible assets and impairment test of intangible assets and goodwill • Note 3(j) and 32 Employee benefit plans • Note 3(l) and 3(m) Loyalty programs • Note 3(p),16 and 19 Income taxes • Note 3(k) Provisions and contingent liabilities • Note 3(d) Valuation of embedded derivatives in convertible notes • Note 3(j) and 33 Share based payment • Note 3(b) and 7(a) Acquisition of subsidiary: fair value of consideration transferred and fair value of assets acquired and liabilities assumed Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are included in the following notes: • Note 3(d),9,23 and 25 Available for sale financial assets • Note 3(i) and 18 Impairment test : key assumptions used in discounted cash flow projections • Note 3(j) and 32 Measurement of defined benefit obligations : key actuarial assumptions • Note 3(k) Provisions and contingent liabilities |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | 3) SIGNIFICANT ACCOUNTING POLICIES The accounting policies have been applied consistently to all periods presented in these consolidated financial statements. (a) Basis of Consolidation i) Subsidiaries The Group consolidates entities which it owns or controls. 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. Entities are consolidated from the date on which control commences until the date on which control ceases. ii) Investment in Associates (Equity Accounted Investees) Associates are those entities in which the Group has significant influence, but not control, over the financial and operating polices. Investments in associates are accounted for using the equity method and are recognised initially at cost. The cost of investment includes transaction costs. The consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity accounted investees, other adjustments to align the accounting policies with those of the Group, from the date on which significant influence commences until the date on which significant influence ceases. iii) Non-controlling Interests Non-controlling interests are measured at their proportionate share of the acquiree's identifiable net assets at the acquisition date. Change in the Group's interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. iv) Transactions Eliminated on Consolidation Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. (b) Business Combinations Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Group. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of acquisition. The cost of acquisition also includes the fair value of any contingent consideration and deferred consideration, if any. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at fair value at the date of acquisition. Transaction costs incurred in connection with a business combination are expensed as incurred, except if related to the issue of debt or equity securities. If share-based payment awards (replacement awards) are required to be exchanged for awards held by the acquiree’s employees (acquiree’s awards), then all or a portion of the amount of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based measure of the replacement awards compared with the market-based measure of the acquiree’s awards and the extent to which the replacement awards relate to pre-combination service. (c) Foreign Currency i) Foreign Currency Transactions Transactions in foreign currencies are translated into the respective functional currencies of the Group entities at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated into the functional currency at the exchange rate at that date. The foreign currency gains or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the period, adjusted for effective interest and payments during the period, and the amortized cost in foreign currency translated at the exchange rate at the end of the reporting period. Non-monetary assets that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the fair value was determined. Foreign currency differences arising on translation are recognized in profit or loss, except for the differences on available for sale equity investments, which are recognized in other comprehensive income arising on retranslation. Non-monetary items that are measured based on historical cost in a foreign currency are not translated. ii) Foreign Operations The assets and liabilities of foreign operations, including goodwill and fair value adjustment arising on acquisition, are translated to USD at exchange rates at the reporting date. The income and expenses of foreign operations are translated to USD at an average exchange rate applicable during the period. Foreign currency differences are recognized in other comprehensive income as foreign currency translation reserve (FCTR). However, if the operation is a non-wholly owned subsidiary, then the relevant proportionate share of the translation difference is allocated to non-controlling interest. When a foreign operation is disposed of, in part or in full, the relevant amount in the FCTR is transferred to profit or loss as part of the profit or loss on disposal. (d) Financial Instruments i) Non-Derivative Financial Assets The Group initially recognizes loans and receivables and deposits on the date that they are originated. All other financial assets are recognized initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument. The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability. Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Group has the following non-derivative financial assets which are classified into the following specified categories: ‘loans and receivables’ and ‘available for sale’. Loans and receivable comprise of ‘Trade and other receivables’, ‘Cash and cash equivalents’, ‘Term deposits’ and ‘Other assets’. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Trade and other Receivables Trade and other receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Such assets are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, trade and other receivables are measured at amortized cost using the effective interest method, less any impairment losses. Trade receivables are initially recognized at fair value which primarily represents original invoice amount less any impairment loss or an allowance for any uncollectible amounts. Provision is made when there is objective evidence that the Group may not be able to collect the trade receivable. Balances are written off when recoverability is assessed as being remote. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value, and funds in transit. Available-for-sale Financial Assets Available-for-sale financial assets are non-derivative financial assets that are either designated as available-for-sale or are not classified in any of the other categories. Available-for-sale financial assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at fair value and changes therein, other than impairment losses are recognized in other comprehensive income (loss) and presented within equity in the fair value reserve. When an available- for -sale financial asset is derecognized, the cumulative gain or loss in other comprehensive income (loss) is transferred to profit or loss. Available-for-sale financial assets comprise of equity securities and right acquired under business combination. Term deposits Term deposits comprise deposits with banks, which have original maturities of more than three months. Such assets are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, term deposits are measured at amortized cost using the effective interest method, less any impairment losses. Other assets Other assets mainly include receivable from related party which represents entitlement received by the Company on future proceeds from sale of stake in an Indian entity, engaged in the business-to-business online travel industry, from MIH Internet SEA Pte Ltd. pursuant to the acquisition of ibibo Group (refer note 7(a)). ii) Non-Derivative Financial Liabilities The Group recognizes financial liabilities initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument. The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Group has the following non-derivative financial liabilities: loans and borrowings, bank overdraft, other current and non-current liabilities and trade and other payables. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Bank overdrafts that are repayable on demand and form an integral part of the Group’s cash management are included as a component of cash and cash equivalents for the purpose of the consolidated statement of cash flows. iii) Share Capital Ordinary shares Ordinary shares are classified as equity with par value of $0.0005 per share. Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity. Class B Convertible Ordinary Shares Class B Convertible Ordinary shares (“Class B shares”) are classified as equity with par value of $0.0005 per share. The terms of issue generally provide that the Class B shares issued to any shareholder will have the same powers and relative participation rights as ordinary shares of the Company and shall vote together with ordinary shares as a single class on all matters on which the Company shareholders are entitled to vote, except as required by applicable law. Class B shares will be convertible into an equal number of ordinary shares, which shall be fully paid, non-assessable and free of any preemptive rights, of the Company on demand at the election of the holder, and will be automatically converted into an equal number of ordinary shares upon the transfer of Class B shares to another party. Incremental costs directly attributable to the issue of Class B shares are recognized as a deduction from equity. Repurchase and reissue of share capital (treasury shares) When share capital recognized as equity is repurchased, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the reserve for own shares. When treasury shares are sold or reissued subsequently, the amount received is recognised as an increase in equity and the resulting surplus or deficit on the transaction is presented within share premium. iv) Derivative financial instruments The Group has an embedded derivative feature in convertible notes. Derivatives are recognized initially at fair value; attributable transaction costs are recognized in profit or loss as incurred. Fair value of the derivative is determined on inception using the Black-Scholes model. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted in profit or loss. v) Convertible notes Convertible notes are convertible at the option of the holder into ordinary shares of the Company as per the terms of the issue. Conversion option which is not settled by delivering a fixed number of its own equity instruments for a fixed amount of cash is accounted for separately from the liability component as derivative and initially accounted for at fair value. The liability component is initially recognized at fair value less any directly attributable transaction costs. Directly attributable transaction costs are allocated to the liability component and the conversion option in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of the convertible notes is measured at amortized cost using the effective interest method. The conversion option is subsequently measured at fair value at each reporting date with changes in fair value recognized in profit or loss. The conversion option is presented together with the related liability. (e) Property, Plant and Equipment i) Recognition and Measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. Purchased software that is integral to the functionality of the related equipment is capitalized as part of that equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment, and are recognized net within “other income/other operating expenses” in the consolidated statement of profit or loss and other comprehensive income (loss). Advances paid towards the acquisition of property, plant and equipment outstanding at each reporting date and the cost of property, plant and equipment not ready to use before such date are disclosed as capital work in progress under property, plant and equipment. Items of property, plant and equipment acquired in a business combination are measured at fair value as at the date of acquisition. ii) Subsequent Costs Subsequent expenditure is recognized as an increase in the carrying amount of the asset when it is probable that future economic benefits deriving from the cost incurred will flow to the enterprise and the cost of the item can be reliably determined. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred. iii) Depreciation Depreciation is calculated over the depreciable amount, which is the cost of an asset or other amount substituted for cost, less its residual value. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful lives for each component of property, plant and equipment since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Leased assets are depreciated over the shorter of the lease term and their useful lives. The estimated useful lives of assets are as follows: • Computers 3-6 years • Furniture and fixtures 5-6 years • Office equipments 1-5 years • Motor vehicles 3-7 years • Diesel generator sets 7 years • Building 20 years Leasehold improvements are depreciated over the lease term or useful lives, whichever is shorter. Depreciation methods, useful lives and residual values are reviewed at each financial year end and adjusted as appropriate. (f) Intangible Assets and Goodwill i) Goodwill Goodwill represents excess of the cost of acquisition over the Group’s share in the fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities. If the excess is negative, a bargain purchase gain is recognized immediately in profit or loss. Subsequent to initial recognition, goodwill is measured at cost less accumulated impairment losses. ii) Technology related development costs incurred by the Group are measured at cost less accumulated amortization and accumulated impairment losses. Cost includes expenses incurred during the development stage. The costs related to planning and post implementation phases of development are expensed as incurred. Expenditure on research activities are recognized in profit or loss as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use or sell the asset. The expenditure capitalized include the cost of materials, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use, and capitalized borrowing cost. Incidental operations are not necessary to bring an asset to the condition necessary for it to be capable of operating in the manner intended by management, the income and related expenses of incidental operations are recognized immediately in profit or loss, and included in their respective classifications of income and expense. iii) Other Intangible Assets Other intangible assets comprise software that are acquired by the Group and intangible assets including customer relationship, brand/trade mark, non-compete and favorable lease contract term acquired in a business combination. Software has finite useful lives and is measured at cost less accumulated amortization and accumulated impairment losses. Cost includes any directly attributable expenses necessary to make the assets ready for use. Intangible assets acquired in a business combination are measured at fair value as at the date of acquisition. Following initial recognition, these intangible assets are carried at cost less any accumulated amortization and impairment losses, if any. iv) Subsequent expenditure is capitalized only when it is probable that future economic benefits derived from the cost incurred will flow to the enterprise and the cost of the item can be reliably determined. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred. v) Amortization of assets, other than goodwill, is calculated over the cost of the assets, or other amount substituted for cost, less its residual value. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. The estimated useful lives are as follows: • Technology related development costs 2 - 5 years • Software 3 - 5 years • Customer – related intangible assets (Customer Relationship) 7-10 years • Contract – related intangible assets (Non-Compete) 5-6 years • Marketing – related intangible assets (Brand / Trade Mark) 7-10 years • Favorable lease contract term – related intangible assets 7 years Amortization methods, useful lives and residual values are reviewed at each financial year-end and adjusted as appropriate. (g) Assets Held for Sale Non-current assets that are expected to be recovered primarily through sale rather than continuing use are classified as held for sale. Immediately before classification as held for sale, the assets are remeasured in accordance with the Group’s accounting policies. Thereafter generally the assets are remeasured at the lower of their carrying amount and fair value less costs to sell. Impairment losses on initial classification as held for sale and subsequent gains and losses on remeasurement are recognized in profit or loss. Gains are not recognized in excess of any cumulative impairment loss. Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortized or depreciated. (h) Inventories Inventories are measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated selling expenses. (i) Impairment i) Financial assets (Including Receivables) A financial asset not carried at fair value through profit or loss, including an interest in equity accounted investee, is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Group on terms that the Group would not otherwise consider, indications that a debtor or issuer will enter bankruptcy, the disappearance of an active market for a security. The Group considers evidence of impairment for receivables for each specific asset. All individually significant receivables are assessed for specific impairment. An impairment loss in respect of a financial asset measured at amortized cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate. Losses are recognized in profit or loss and reflected in an allowance account against receivables. Interest on the impaired asset continues to be recognized through the unwinding of the discount. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss. Impairment losses on available-for-sale financial assets are recognized by reclassifying the losses accumulated in the fair value reserve in equity to profit or loss. The cumulative loss that is reclassified from equity to profit or loss is the difference between the acquisition cost, net of any principal repayment and amortization, and the current fair value, less any impairment loss recognized previously in profit or loss. Changes in cumulative impairment losses attributable to application of the effective interest method are reflected as a component of interest income. If, in a subsequent period, the fair value of an impaired available-for-sale debt security increases and the increase can be related objectively to an event occurring after the impairment loss was recognized, then the impairment loss is reversed, with the amount of the reversal recognized in profit or loss. However, any subsequent recovery in the fair value of an impaired available-for-sale equity security is recognized in other comprehensive income. An impairment loss in respect of an equity-accounted is measured by comparing the recoverable amount of the investment with its carrying amount. An impairment loss is recognised in profit or loss, and is reversed if there has been a favorable change in estimates used to determine the recoverable amount. ii) Non-Financial Assets The carrying amounts of the Group’s non-financial assets, primarily property, plant and equipment, technology related development cost, software and other intangible assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill is tested annually for impairment. An impairment loss is recognized if the carrying amount of an asset or cash generating unit (CGU) exceeds its recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assumptions of the time value of money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to an operating segment ceiling test, CGUs to which goodwill has been allocated are aggregated to that level at which impairment testing is performed which reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to the group of CGUs that are expected to benefit from the synergies of the combination. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis. An impairment loss in respect of goodwill is not reversed. For other assets an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. (j) Employee Benefits i) Defined Contribution Plans Obligations for contributions to defined contribution plans are recognized as personnel expense in profit or loss in the periods during which services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. ii) Defined Benefit Plans A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Group’s gratuity scheme is a defined benefit plan. The Group’s net obligation in respect of defined benefit plans is calculated separately for each plan by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets. The calculation of defined benefit obligations is performed half yearly by a qualified actuary using the projected unit credit method. When the calculation results in a potential asset for the Group, the recognised asset is limited to the present value of economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan. To calculate the present value of economic benefits, consideration is given to any applicable minimum funding requirements. Remeasurements of the net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognised immediately in other comprehensive income (loss). The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the year to the then-net defined benefit liability (asset), taking into account any changes in the net defined benefit liability (asset) during the period as a result of contributions and benefit payments. Net interest expense and other expenses related to defined benefit plans are recognised in profit or loss. When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on curtailment is recognised immediately in profit or loss. The Group recognises gains and losses on the settlement of a defined benefit plan when the settlement occurs. The discount rate is based on the prevailing market yields of Indian government securities as at the reporting date that have maturity dates approximating the terms of the Group’s obligations and that are denominated in the same currency in which the benefits are expected to be paid. iii) Other Long-term Employee Benefits Benefits under the Group’s compensated absences policy constitute other long term employee benefits. The Group’s net obligation in respect of long-term employee benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value, and the fair value of any related assets is deducted. The discount rate is based on the prevailing market yields of Indian government securities as at the reporting date that have maturity dates approximating the terms of the Group’s obligations and that are denominated in the same currency in which benefits are expected to be paid. The calculation is performed using the projected unit credit method. Any actuarial gains or losses are recognized in profit or loss in the period in which they arise. iv) Short-term Employee Benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably. v) Share Based Payment The grant date fair value of share-based payment awards granted to employees is recognized as personnel expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that do meet the related service conditions at the vesting date. The increase in equity recognized in connection with a share based payment transaction is presented in the share based payment reserve, as a separate component in equity. vi) Termination benefits Termination benefits are expensed at the earlier of when the Group can no longer withdraw the offer of those benefits/when the Group recognises costs for a restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, then they are discounted. (k) Provisions and Contingent Liabilities A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, 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 assumptions of the time value of money and the risks specific to the liability. The unwinding of discount is recognized as finance cost. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. A provision for onerous contract is measured at the present value of the lo |
Determination of Fair Values
Determination of Fair Values | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Determination Of Fair Value Measurement [Abstract] | |
Determination of Fair Values | 4) DETERMINATION OF FAIR VALUES A number of the Group’s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities. The Group has an established control framework with respect to the measurement of fair values. This includes a valuation team that has overall responsibility for overseeing all significant fair value measurements, including level 3 fair values, and reports directly to the Group Chief Financial Officer. The valuation team regularly reviews significant unobservable inputs and valuation adjustments. Significant valuation issues are reported to the Group's Audit committee. When measuring the fair value of an asset or a liability, the Group uses market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: quoted prices (Unadjusted) in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included in 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 liability that are not based on observable market data (Unobservable Inputs). If the inputs used to measure the fair value of an asset or a liability might be categorized in different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire valuation. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability. a) Property, Plant and Equipment The fair value of property, plant and equipment recognized as a result of a business combination is the estimated amount for which a property could be exchanged on the date of acquisition between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably. The fair value of items of property, plant and equipment is based on the market approach and cost approaches using the quoted market prices for similar items when available and depreciated replacement cost when appropriate. Depreciated replacement cost reflects adjustments for physical deterioration as well as functional and economic obsolescence. b) Intangible Assets The fair value of trademark and brand names acquired in business combinations is based on the discounted estimated royalty payments that are expected to be avoided as a result of the trademark / brand names being owned. The fair value of customer relationships acquired in a business combination is determined using the multi-period excess earnings method, whereby the subject asset is valued after deducting a fair return on all other assets that are part of creating the related cash flows. The fair value of non-compete agreements acquired in a business combination is determined using the comparative income differential method. The fair value of technology acquired in business combinations is determined using the replacement cost method and/or relief from royalty method. The fair value of favorable lease term acquired in a business combination is determined by comparison of the terms of an acquiree’s leases with the market terms of leases of the same or similar items at the acquisition date. c) Non Derivative Financial Liabilities Fair value is calculated based on the present value of future principal and interest cash flows, discounted at the market rate of interest. For finance leases, the market rate of interest is determined by reference to similar lease agreements. d) Share Based Payment Transactions The fair value of restricted stock units given under MakeMyTrip 2010 Share Incentive Plan (“Share Incentive Plan”) is calculated by multiplying the number of units given with the Company’s share price on the date of grant. Service conditions attached to the arrangements were not taken into account in measuring fair value. The fair value of acquiree’s awards exchanged in a business combination was measured using Bermudan Binomial option pricing model, taking into account the terms and conditions upon which the awards were made. In applying the valuation model, it is required to determine the most appropriate inputs to the valuation model including the expected life of the appreciation right, volatility and dividend yield and making assumptions about them. e) Trade and other Receivables The fair value of trade and other receivables is estimated as the present value of future cash flows, discounted at the market rate of interest at the reporting date. f) Investment in Equity Securities The fair value of investment in equity securities is determined using a valuation technique. Valuation techniques employed include market multiples and discounted cash flows analysis using expected future cash flows and a market related discount rate. g) Separable Embedded Derivative The fair value of the separable embedded derivative in the convertible notes has been determined using Black-Scholes model. Measurement inputs include share price on measurement date, expected term of the instrument, risk free rate (based on government bonds), expected volatility (based on weighted average historic volatility) and expected dividend rate. h) Available for Sale financial asset The fair value of the entitlement on future proceeds from sale of stake acquired in a business combination has been determined by assigning probabilities to Binomial Lattice Model and Discounted Cash Flow method. Measurement inputs include discount rate, expected term, volatility, expected dividend yield and share price movement trend. i) Investment in Associates The fair value of Group’s shares, acquired as a result of a business combination, in an entity over which the Group has significant influence but not control is based on the enterprise value of that entity determined using the latest round of investment in that entity by market participants. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Mar. 31, 2018 | |
Financial Risk Management [Abstract] | |
Financial Risk Management | 5) FINANCIAL RISK MANAGEMENT Overview In the normal course of its business, the Group is exposed to liquidity, credit and market risk (interest rate and foreign currency risk). Liquidity Risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risk to the Group’s reputation. To ensure smooth operations, the Group has invested surplus funds in term deposits with banks and has taken bank guarantees, bank overdraft facility, and other facilities against them. Credit Risk Credit risk is the risk of financial loss to the Group if a customer or counter party to a financial instrument fails to meet its contractual obligation. The Group’s exposure to credit risk is limited, as its customer base consists of a large number of customers and the majority of its collections from customers are made on an upfront basis at the time of consummation of the transaction. There is limited credit risk on sales made to corporate customers, incentives due from the airlines and its Global Distribution System (GDS) providers. The Group has not experienced any significant default in recovery from such customers. Additionally, the Group places its cash and cash equivalents (except cash in hand) and term deposits with banks with high investment grade ratings, limits the amount of credit exposure with any one bank and conducts ongoing evaluation of the credit worthiness of the banks with which it does business. Given the high credit ratings of these financial institutions, the Group does not expect these financial institutions to fail in meeting their obligations. The maximum exposure to credit risk is represented by the carrying amount of each financial asset. Market Risk Market risk is the risk that changes in market prices such as foreign exchange rate and interest rate will affect the Group’s income or the value of its holdings of financial instruments. Foreign Currency Risk The Group is exposed to currency risk to the extent that there is a mismatch between the currencies in which sales and purchase of services and borrowings are denominated and the respective functional currencies of Group companies. The functional currencies of Group companies are primarily INR and USD. The currencies in which these transactions are primarily denominated are INR, USD, and Euro. The Group currently does not have hedging or similar arrangements with any counter-party to cover its foreign currency exposure fluctuations in foreign exchange rates. Interest Rate Risk A majority of the financing of the Group has come from a mix of ordinary or convertible and redeemable preference shares with nominal dividends, proceeds from public offerings, proceeds from the issuance of the convertible notes and overdraft facility with banks. The interest rates on the overdraft facility availed by the subsidiaries of the parent company are marginally higher than the interest rates on term deposits with the banks. Further, the interest rate on convertible notes was fixed. Accordingly, there is limited interest rate risk. The Group’s investments in majority of term deposits with banks are for short duration, and therefore do not expose the group to significant interest rate risk. |
Operating Segments
Operating Segments | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Operating Segments | 6) OPERATING SEGMENTS The Group has two reportable segments, as described below, which are the Group’s Lines of Business (LoBs). The LoBs offer different products and services, and are managed separately because the nature of products and services, and methods used to distribute the services are different. For each of these LoBs, the Group’s Leadership team comprising of Group Chief Executive Officer, Chief Executive Officer- India, Group Chief Financial Officer, Group Chief Marketing Officer and Group Chief Technology Officer along with business leaders from different LoBs, review internal management reports. Accordingly, the Leadership team is construed to be the Chief Operating Decision Maker (CODM). LoBs assets, liabilities and expenses (other than service cost) are reviewed on an entity-wide basis by the CODM, and hence are not allocated to these LoBs. Segment Revenue less Service Cost from each LoB are reported and reviewed by the CODM on a monthly basis. The following summary describes the operations in each of the Group’s reportable segments: 1. Air ticketing: Primarily through internet based platforms, provides the facility to book international and domestic air tickets. 2. Other operations primarily include income from sale of bus and rail tickets, advertisement income from hosting advertisements on its internet websites, car bookings and income from facilitating access to internet based platforms to travel insurance companies and other agents. These aforesaid operations do not meet any of the quantitative thresholds to be a reportable segment for any of the periods presented in these consolidated financial statements. Information about reportable segments: For the year ended March 31 Reportable segments Air ticketing Hotels and packages Total reportable segments All other segments Total Particulars 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 Revenues 78,172 118,514 202,064 251,713 314,254 483,031 329,885 432,768 685,095 6,169 14,848 67,902 336,054 447,616 752,997 Total segment revenue 78,172 118,514 202,064 251,713 314,254 483,031 329,885 432,768 685,095 6,169 14,848 67,902 336,054 447,616 752,997 Service cost 1,770 — — 165,264 173,919 169,347 167,034 173,919 169,347 — — 6,530 167,034 173,919 175,877 Segment Revenue less Service Cost 76,402 118,514 202,064 86,449 140,335 313,684 162,851 258,849 515,748 6,169 14,848 61,372 169,020 273,697 577,120 Other income 1,014 363 435 Personnel expenses (49,018) (73,736) (114,157) Marketing and sales promotion expenses (108,966) (224,424) (529,559) Other operating expenses (67,954) (81,585) (120,566) Depreciation, amortization and impairment (10,923) (29,702) (32,712) Finance income 1,586 45,268 5,189 Finance costs (20,327) (18,289) (3,901) Impairment in respect of an equity - accounted investee (959) — — Share of loss of equity-accounted investees (1,860) (1,702) (1,998) Loss before tax (88,387) (110,110) (220,149) Assets and liabilities are used interchangeably between segments and these have not been allocated to the reportable segments. Reconciliation of information on Reportable Segments to IFRS measures: For the year ended March 31 Reportable segments Air ticketing Hotels and packages Total reportable segments All other segments Total Particulars 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 Revenues 78,172 118,514 202,064 251,713 314,254 483,031 329,885 432,768 685,095 6,169 14,848 67,902 336,054 447,616 752,997 Less: Promotion expenses recorded as a reduction of revenue* — — (34,673) — — (43,068) — — (77,741) — — — — — (77,741) Consolidated Revenue 78,172 118,514 167,391 251,713 314,254 439,963 329,885 432,768 607,354 6,169 14,848 67,902 336,054 447,616 675,256 Marketing and sales promotion expenses (108,966) (224,424) (529,559) Less: Promotion expenses recorded as a reduction of revenue* — — 77,741 Consolidated marketing and sales promotion expenses (108,966) (224,424) (451,818) Notes: * For purposes of reporting to the CODM, Geographical Information: In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers. Segment assets are based on the geographical location of the assets. Revenue Non-Current Assets* For the Year Ended March 31 As at March 31 Particulars 2016 2017 2018 2017 2018 India 295,794 415,555 647,077 1,211,999 1,195,212 United States 6,504 2,382 113 23 14 South East Asia 10,132 11,115 10,888 7,719 4,838 Europe 12,698 9,184 6,972 — — Others 10,926 9,380 10,206 184 226 Total 336,054 447,616 675,256 1,219,925 1,200,290 * Non-current assets presented above represent property, plant and equipment, intangible assets and goodwill, non-current tax assets, and other non-current assets (excluding financial assets). In the year ended March 31, 2016, the Group changed the management reporting structure for analysing revenue based on geographical location of customers. In conjunction with that change, the Group now reports its geographical revenues and non-current assets for India, United States, South East Asia, Europe and Other countries. Major Customers: Considering the nature of business, customers normally include individuals. Further, none of the corporate and other customers account for more than 10% or more of the Group’s revenues. |
Business Combinations
Business Combinations | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Business Combinations [Abstract] | |
Business Combinations | 7) BUSINESS COMBINATIONS a) Acquisition of ibibo Group On January 31, 2017, MakeMyTrip Limited (‘MMYT’) acquired 100% of the outstanding shares and voting interest of Ibibo Group Holdings (Singapore) Pte. Ltd. (‘ibibo Group’), a subsidiary of MIH Internet SEA Pte. Ltd. (‘Parent’) (which was jointly owned by Naspers Limited and Tencent Holdings Limited). Through this acquisition, MMYT intended to bring together a bouquet of leading consumer travel brands in India, including MakeMyTrip, goibibo and redBus. MMYT aims to create one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers. The transaction is expected to unlock value for customers, supply partners and shareholders, by combining the complementary strengths of each business. The operations of ibibo Group were consolidated in the financial statements of the Group from January 31, 2017. In the year ended March 31, 2017, ibibo Group contributed revenue of USD 28,740 and loss of USD 26,470 to the Group’s result. If the acquisition had occurred on April 1, 2016, management estimates that consolidated revenue would have been USD 609,798 and consolidated loss for the year ended March 31, 2017 would have been USD 225,355. This unaudited pro-forma information is not necessarily indicative of the results of operations that would have occurred had the acquisition been made at the beginning of the period. Consideration transferred The following table summarises the acquisition date fair value of each class of consideration transferred: Equity instruments issued to Parent (38,971,539 Class B shares) 1,178,792 Equity instruments issued to Parent (Option to exercise and acquire 413,035 ordinary shares) 3,741 Working capital infusion by the Parent (83,260 ) Replacement share-based payment awards 15,008 Total Consideration transferred 1,114,281 Equity instruments issued The fair value of the 38,971,539 Class B shares issued was based on the listed share price of the Company on the date of closing after making adjustments for certain selling restrictions. Under the acquisition agreement, the Parent had an option to purchase 413,035 ordinary shares of MMYT at $21.19 per share, which was exercised by the Parent on January 31, 2017. The difference between the exercise price and the stock price on the date of closing (after making adjustments for certain selling restrictions) was considered as part of purchase consideration Working capital infusion by the Parent As per the terms of the acquisition agreement, as a key condition to the completion of the transaction, the Parent of ibibo Group contributed its pro rata share of consolidated net working capital of USD 82,826 in cash to MMYT at closing (which was subject to adjustments after completion). In May 2017, the Parent agreed to the working capital adjustment and total pro rate share contributed by the Parent is USD 83,260. Replacement share-based payment awards In accordance with the terms of the acquisition agreement, the Group exchanged share-based payment awards held by employees of ibibo Group (the acquiree’s awards) for equity-settled share-based payment awards of the Company (the replacement awards). The replacement awards given in exchange of acquiree’s awards will have the same vesting schedule as was applicable to the ibibo Group employees before the acquisition. The fair value of the replacement awards on the date of acquisition was USD 26,021. The value of the replacement awards was USD 24,832, after taking into account estimated forfeiture rates. The consideration for the business combination includes USD 15,008 transferred to employees of Ibibo Group when the acquiree’s awards were substituted by the replacement awards, which relates to past service. The balance of USD 9,824 will be recognized as post-acquisition compensation cost over remaining vesting period of replaced awards. For further details on the replacement awards, refer note 33. Acquisition-related costs The Group incurred “acquisition-related” costs of USD 5,972 relating to external legal fees and due diligence cost. These amounts Identifiable assets acquired and liabilities assumed The acquisition was accounted for under the acquisition method of accounting in accordance with IFRS 3 “Business Combinations”. The assets and liabilities of ibibo Group were recorded at fair value at the date of acquisition. The purchase price was allocated based on management’s estimates and an independent appraisal of fair values as follows: Property, plant and equipment 1,189 Intangible assets 153,860 Other non-current assets 20,499 Current assets and liabilities, net (including cash and cash equivalents of USD 19,988) (12,309 ) Employee benefits (605 ) Equity stake in an associate 2,060 Total identifiable net assets assumed 164,694 Non-controlling interest (617 ) Goodwill 950,204 Total purchase price 1,114,281 The fair value of the current assets acquired includes trade receivable with a fair value of USD 7,601. The goodwill was attributable mainly to the skills and technical talent of ibibo Group’s work force and the synergies expected to be achieved from integrating the ibibo Group into the Group’s existing business. Goodwill recognized is not expected to be deductible for income tax purposes. |
Investment in Equity-Accounted
Investment in Equity-Accounted Investees | 12 Months Ended |
Mar. 31, 2018 | |
Equity Method Investments [Abstract] | |
Investment in Equity-Accounted Investees | 8) INVESTMENT IN EQUITY-ACCOUNTED INVESTEES The Group has interests in a number of individually immaterial associates. The following table analyses, in aggregate the carrying amount and share of loss of these associates. As at March 31 Particulars 2017 2018 Carrying amount of interests in associates 18,212 16,316 For the year ended March 31 Particulars 2016 2017 2018 Company's share of loss in associates (1,860 ) (1,702 ) (1,998 ) |
Other Investments
Other Investments | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Investments [Abstract] | |
Other Investments | 9) OTHER INVESTMENTS As at March 31 Particulars 2017 2018 Investment in equity and other securities 5,791 6,170 Total 5,791 6,170 These investments have been classified as “Available-for-sale Financial Assets” and “Held to Maturity” as per IAS 39 “Financial Instruments: Recognition and Measurement”. The Group’s exposure to risks and fair value measurement is disclosed in note 5 and 35. |
Other Revenue
Other Revenue | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Revenue [Abstract] | |
Other Revenue | 10) OTHER REVENUE For the year ended March 31 Particulars 2016 2017 2018 Commission on bus and rail reservation 946 5,823 51,435 Advertising revenue 953 1,326 981 Facilitation fee 3,516 6,956 14,588 Miscellaneous 754 743 898 Total 6,169 14,848 67,902 |
Other Income
Other Income | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Income [Abstract] | |
Other Income | 11) OTHER INCOME For the year ended March 31 Particulars 2016 2017 2018 Claim received from vendor 24 — — Excess provision written back — 93 96 Income on license acquired 886 — — Others 104 270 339 Total 1,014 363 435 |
Personnel Expenses
Personnel Expenses | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Personal Expenses [Abstract] | |
Personnel Expenses | 12) PERSONNEL EXPENSES For the year ended March 31 Particulars 2016 2017 2018 Wages, salaries and other employees benefits 31,001 42,073 62,303 Contributions to defined contribution plans 2,017 2,204 3,055 Expenses related to defined benefit plans 253 363 868 Equity-settled share based payment 13,685 26,795 44,716 Employee welfare expenses 2,062 2,301 3,215 Total 49,018 73,736 114,157 |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Operating Expense [Abstract] | |
Other Operating Expenses | 13) OTHER OPERATING EXPENSES For the year ended March 31 Particulars 2016 2017 2018 Payment gateway and other charges 25,019 27,269 50,597 Outsourcing expenses 16,055 16,920 26,158 Travelling and conveyance 3,069 3,537 3,105 Communication 3,600 4,385 5,288 Repairs and maintenance 3,322 4,322 5,300 Rent 2,949 3,831 7,701 Legal and professional* 3,707 11,395 7,894 Website hosting charges 2,243 2,428 6,771 Net loss on disposal of property, plant and equipment 380 46 70 Intangible assets written off — — 356 Miscellaneous expenses 7,610 7,452 7,326 Total 67,954 81,585 120,566 Notes: * Includes USD 144 towards cost related to share based payment for the year ended March 31, 2018. |
Depreciation, Amortization and
Depreciation, Amortization and Impairment | 12 Months Ended |
Mar. 31, 2018 | |
Depreciation Amortisation And Impairment Expense [Abstract] | |
Depreciation, Amortization and Impairment | 14) DEPRECIATION, AMORTIZATION AND IMPAIRMENT For the year ended March 31 Particulars 2016 2017 2018 Depreciation 2,724 5,149 4,357 Amortization 6,032 9,386 25,481 Impairment 2,167 15,167 2,874 Total 10,923 29,702 32,712 |
Finance Income and Costs
Finance Income and Costs | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Finance Income Expense [Abstract] | |
Finance Income and Costs | 15) FINANCE INCOME AND COSTS For the year ended March 31 Particulars 2016 2017 2018 Recognized in profit or loss Interest income on term deposits 1,477 2,208 4,503 Other interest income 109 633 686 Net gain on change in fair value of derivative financial instrument — 42,427 — Finance income 1,586 45,268 5,189 Interest expense on financial liabilities measured at amortised cost 3,838 8,574 422 Change in financial liability 496 2 — Cost related to convertible notes 775 — — Net foreign exchange loss 4,501 1,669 2,386 Impairment loss on trade and other receivables 984 1,771 604 Net loss on change in fair value of derivative financial instrument 9,017 — — Finance and other charges 716 6,273 489 Finance costs 20,327 18,289 3,901 Net finance income (costs) recognized in profit or loss (18,741 ) 26,979 1,288 |
Income Tax Benefit (Expense)
Income Tax Benefit (Expense) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Income Tax [Abstract] | |
Income Tax Benefit (Expense) | 16) INCOME TAX BENEFIT (EXPENSE) Income tax recognised in profit or loss For the year ended March 31 Particulars 2016 2017 2018 Current tax expense Current period (178 ) (237 ) (135 ) Current tax expense (178 ) (237 ) (135 ) Deferred tax benefit (expense) Origination and reversal of temporary differences 4,343 1,928 (1,231 ) Change in unrecognized deductible temporary differences (4,335 ) (1,908 ) 620 Utilization of previously unrecognised tax losses 15 24 655 Deferred tax benefit (expense) 23 44 44 Total (155 ) (193 ) (91 ) Income Tax Recognized in Other Comprehensive Income (loss) For the year ended March 31 2016 2017 2018 Particulars Before tax Tax (expense) benefit Net of tax Before tax Tax (expense) benefit Net of tax Before tax Tax (expense) benefit Net of tax Foreign currency translation differences on foreign operations (565 ) — (565 ) 48,618 — 48,618 (1,915 ) — (1,915 ) Net change in fair value of available-for-sale financial assets 752 — 752 (809 ) — (809 ) 2,280 — 2,280 Remeasurement of defined benefit (asset) liability (149 ) — (149 ) (266 ) — (266 ) (422 ) — (422 ) Total 38 — 38 47,543 — 47,543 (57 ) — (57 ) Reconciliation of Effective Tax Rate For the Year Ended March 31 Particulars 2016 2017 2018 Loss for the year (88,542 ) (110,303 ) (220,240 ) Income tax expense (155 ) (193 ) (91 ) Loss before tax (88,387 ) (110,110 ) (220,149 ) Income tax benefit using the Company's domestic tax rate 15.00 % 13,261 15.00 % 16,517 15.00 % 33,020 Effect of tax rates in foreign jurisdictions 9.81 % 8,671 13.60 % 14,978 13.90 % 30,611 Non deductible expenses 2.84 % (2,508 ) 3.64 % (4,005 ) 0.81 % (1,781 ) Tax exempt income 0.08 % 74 5.99 % 6,593 0.28 % 622 Utilization of previously unrecognised tax losses 0.02 % 15 0.02 % 24 0.30 % 655 Current year losses for which no deferred tax asset was recognized 17.35 % (15,334 ) 29.37 % (32,340 ) 29.00 % (63,833 ) Change in unrecognised temporary differences 4.90 % (4,335 ) 1.73 % (1,908 ) 0.28 % 620 Others 0.00 % 1 0.05 % (52 ) 0.00 % (5 ) (155 ) (193 ) (91 ) |
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 | 17) PROPERTY, PLANT AND EQUIPMENT Particulars Land Building Computers Furniture and Office Equipment Motor Vehicles Leasehold Improvements Diesel Generator Capital Work- in-Progress Total Cost Balance as at April 1, 2016 794 478 10,691 210 1,297 1,100 4,652 9 14 19,245 Acquisitions through business combinations — — 880 126 105 59 19 — — 1,189 Additions — — 3,026 283 600 382 2,071 — 2,701 9,063 Disposals* — — (1,381 ) (51 ) (232 ) (88 ) (3,809 ) — — (5,561 ) Effect of movements in foreign exchange rates 18 11 323 12 40 36 29 — 74 543 Balance as at March 31, 2017 812 489 13,539 580 1,810 1,489 2,962 9 2,789 24,479 Balance as at April 1, 2017 812 489 13,539 580 1,810 1,489 2,962 9 2,789 24,479 Additions — — 2,198 412 456 344 3,540 — (2,753 ) 4,197 Disposals** (845 ) (509 ) (341 ) (123 ) (367 ) (441 ) (113 ) — — (2,739 ) Effect of movements in foreign exchange rates 33 20 42 2 27 9 (17 ) — 14 130 Balance as at March 31, 2018 — — 15,438 871 1,926 1,401 6,372 9 50 26,067 Accumulated depreciation and impairment loss Balance as at April 1, 2016 — 142 5,593 102 848 446 1,824 5 — 8,960 Depreciation for the year — 40 2,187 54 263 241 2,363 1 — 5,149 Disposals* — — (1,365 ) (28 ) (224 ) (27 ) (3,483 ) — — (5,127 ) Effect of movements in foreign exchange rates — 4 136 2 14 14 (7 ) — — 163 Balance as at March 31, 2017 — 186 6,551 130 901 674 697 6 — 9,145 Balance as at April 1, 2017 — 186 6,551 130 901 674 697 6 — 9,145 Depreciation for the period — 10 2,773 184 361 302 727 — — 4,357 Disposals** — (203 ) (252 ) (35 ) (330 ) (241 ) (106 ) — — (1,167 ) Effect of movements in foreign exchange rates — 7 54 (22 ) (9 ) 6 6 — — 42 Balance as at March 31, 2018 — — 9,126 257 923 741 1,324 6 — 12,377 Carrying amounts As at April 1, 2016 794 336 5,098 108 449 654 2,828 4 14 10,285 As at March 31, 2017 812 303 6,988 450 909 815 2,265 3 2,789 15,334 As at April 1, 2017 812 303 6,988 450 909 815 2,265 3 2,789 15,334 As at March 31, 2018 — — 6,312 614 1,003 660 5,048 3 50 13,690 * includes assets reclassified to assets held for sale with cost of USD 3,733 and accumulated depreciation of USD 3,443. ** includes assets reclassified to assets held for sale with cost of USD 1,354 and accumulated depreciation of USD 203. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Intangible Assets And Goodwill [Abstract] | |
Intangible Assets and Goodwill | MAKEMYTRIP LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS– (Continued) (Amounts in USD thousands, except per share data and share count) 18) INTANGIBLE ASSETS AND GOODWILL Particulars Goodwill Customer Relationship Non- Compete Brand / Trade Mark Technology Related Development Cost Software Favourable Lease Contract Term Capital Work- in-Progress Total Cost Balance as at April 1, 2016 13,338 1,334 466 10,777 20,049 6,120 — 4,210 56,294 Acquisitions through business combination 950,204 2,200 — 134,500 16,500 411 249 — 1,104,064 Additions/Adjustment* — — — — 6,001 330 — (89 ) 6,242 Effect of movements in foreign exchange rates 42,893 95 (6 ) 6,092 1,221 140 11 71 50,517 Balance as at March 31, 2017 1,006,435 3,629 460 151,369 43,771 7,001 260 4,192 1,217,117 Balance as at April 1, 2017 1,006,435 3,629 460 151,369 43,771 7,001 260 4,192 1,217,117 Additions/Adjustment* — — — — 8,028 318 — (542 ) 7,804 Disposals — — — — (392 ) (237 ) (260 ) — (889 ) Effect of movements in foreign exchange rates (2,081 ) 3 10 (302 ) (163 ) 10 — (3 ) (2,526 ) Balance as at March 31, 2018 1,004,354 3,632 470 151,067 51,244 7,092 - 3,647 1,221,506 Accumulated amortization and impairment loss Balance as at April 1, 2016 — 567 327 4,330 10,887 3,807 — 1,490 21,408 Amortization for the year — 214 51 3,475 4,734 906 6 — 9,386 Impairment for the year 9,625 — 70 4,885 16 — — 571 15,167 Effect of movements in foreign exchange rates — (1 ) (5 ) 53 244 100 — 38 429 Balance as at March 31, 2017 9,625 780 443 12,743 15,881 4,813 6 2,099 46,390 Balance as at April 1, 2017 9,625 780 443 12,743 15,881 4,813 6 2,099 46,390 Amortization for the year — 493 10 14,216 9,764 973 25 — 25,481 Impairment for the year** — — — — 2,373 — — 501 2,874 Disposals — — — — (358 ) (160 ) (31 ) — (549 ) Effect of movements in foreign exchange rates — 4 10 (102 ) (169 ) 17 — 33 (207 ) Balance as at March 31, 2018 9,625 1,277 463 26,857 27,491 5,643 — 2,633 73,989 Carrying amounts As at April 1, 2016 13,338 767 139 6,447 9,162 2,313 — 2,720 34,886 As at March 31, 2017 996,810 2,849 17 138,626 27,890 2,188 254 2,093 1,170,727 As at April 1, 2017 996,810 2,849 17 138,626 27,890 2,188 254 2,093 1,170,727 As at March 31, 2018 994,729 2,355 7 124,210 23,753 1,449 — 1,014 1,147,517 * Represents addition of USD 7,506 (March 31, 2017: USD 5,912) to capital work-in-progress, adjusted for amounts capitalized out of capital-work-in progress amounting to USD 8,028 (March 31, 2017: USD 6,001) ** In March 2018, the management of the Company decided to suspend operations in one of its Indian subsidiary, as it does not intend to continue operations in the future in that entity. The Group tested the technology related development cost of that entity for recoverability and recognised an impairment loss of USD 2,874 during the year ended March 31, 2018. Impairment testing for CGUs containing goodwill For the purpose of impairment testing, goodwill is allocated to a CGU representing the lowest level within the Group at which goodwill is monitored for internal management purposes, and which is not higher than the Group’s operating segment. Goodwill has been allocated as follows: As at March 31 Particulars 2017 2018 ibibo Group - Go ibibo 838,465 836,559 ibibo Group - redBus 154,718 154,390 Luxury Tours & Travel Pte Ltd 2,322 2,475 ITC Group 1,305 1,305 Total 996,810 994,729 The recoverable amount of the CGU was based on its value in use and was determined by discounting the future cash flows to be generated from the continuing use of the CGU. These calculations use cash flow projections over a period of five to seven years, based on next year financial budgets approved by management, with extrapolation for the remaining period, and an average of the range of assumptions as mentioned below. The key assumptions used for the calculations are as follows: As at March 31 Particulars 2017 2018 Discount rate (pre-tax) 15 - 24% 19 - 24% Discount rate (post-tax) 12 - 22% 15 - 20% Terminal value growth rate 3.5 - 4% 3.5 - 4% EBITDA margin (5-7 years) (20.7) - 28.4% (14.7) - 42.5% The above discount rate is based on the Weighted Average Cost of Capital (WACC) of a comparable market participant, which is adjusted for specific risks. These estimates are likely to differ from future actual results of operations and cash flows. Based on the above, no impairment was identified as of March 31, 2018 and March 31, 2017 (except for Hotel Travel Group) as the recoverable value of the CGUs exceeded the carrying value. With regard to the assessment of value-in use for Luxury Tours and Travels Pte Ltd and ITC group, no reasonably possible change in any of the above key assumptions would cause the carrying amount of these units to exceed their recoverable amount. For ibibo Group - Go ibibo, the recoverable amount exceeds the carrying amount by approximately 14.4% as of March 31, 2018 (March 31, 2017: 8.41%). An increase of 1.72% (March 31, 2017: 0.9%) in pre-tax discount rate and a decrease of EBITDA as a percentage of revenue by 3.16% (March 31, 2017: 1.62%) shall equate the recoverable amount with the carrying amount of the ibibo Group - Go ibibo. For ibibo Group - redBus, the recoverable amount exceeds the carrying amount by approximately 14.3% as of March 31, 2018 (March 31, 2017: 5.76%). An increase of 1.57% (March 31, 2017: 0.53%) in pre-tax discount rate and a decrease of EBITDA as a percentage of revenue by 2.12% (March 31, 2017: 1.08%) shall equate the recoverable amount with the carrying amount of the ibibo Group – redBus. In November, 2012, MMYT acquired 100% stake in the companies in the ‘Hotel Travel Group’ (HT Group). HT Group, with the brand ‘Hotel Travel’ and the website www.hoteltravel.com Pursuant to the acquisition of ibibo Group (refer note 7(a)), as part of its business strategy the Group envisaged that it wants to focus on capturing the Indian domestic market and international hotel market for travelers originating from India as it provides higher growth and improved margin prospects. Accordingly, as a result of the revamped strategy, in February 2017, the management of the Company decided to curtail its operation in HT Group as it no longer intends to render online hotels services to customers originating from HT Group’s operations. The recoverable amount of this CGU was based on its value in use, determined by discounting the future cash flows to be generated from the continuing use of the CGU. The carrying amount of the CGU was determined to be higher than its recoverable amount, accordingly, an impairment loss of USD 14,580 was recognized in the year ended March 31, 2017. The impairment loss was fully allocated to goodwill, non-compete intangible assets and brands associated with HT Group’s operations. |
Tax Assets and Liabilities
Tax Assets and Liabilities | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Tax Assets And Liabilities [Abstract] | |
Tax Assets and Liabilities | 19) TAX ASSETS AND LIABILITIES Unrecognized Deferred Tax Assets Deferred tax assets have not been recognized in respect of the following items: As at March 31 Particulars 2017 2018 Deductible temporary differences 25,261 27,816 Minimum alternate tax 746 744 Tax loss carry forwards 119,481 180,175 Total 145,488 208,735 During the year ended March 31, 2016, March 31, 2017 and 2018, the Company did not recognize deferred tax assets on tax losses and other temporary differences because a trend of future profitability is not yet clearly discernible. Further, deferred tax assets have been recognised only to the extent of deferred tax liabilities. The above tax losses expire at various dates ranging from 2022 to 2035. Recognized Deferred Tax Assets and Liabilities Deferred tax assets and liabilities are attributable to the following: As at March 31 Assets Liabilities Net Particulars 2017 2018 2017 2018 2017 2018 Property, plant and equipment — — (75 ) (390 ) (75 ) (390 ) Intangible assets — — (37,674 ) (33,675 ) (37,674 ) (33,675 ) Tax loss carry forwards 37,590 33,950 — — 37,590 33,950 Deferred tax assets/(liabilities) before set off 37,590 33,950 (37,749 ) (34,065 ) (159 ) (115 ) Set off (37,590 ) (33,950 ) 37,590 33,950 — — Net deferred tax assets/(liabilities) — — (159 ) (115 ) (159 ) (115 ) Movement in deferred tax assets/(liabilities) during the year Particulars Balance as at April 1, 2016 Acquired in business combination Recognised in profit or loss Recognised in other comprehensive income Effects of movement in foreign exchange rates Balance as at March 31, 2017 Recognised in profit or loss Recognised in other comprehensive income Effects of movement in foreign exchange rates Balance as at March 31, 2018 Property, plant and equipment (453 ) — 374 — 4 (75 ) (317 ) — 2 (390 ) Intangible assets (1,469 ) (34,301 ) (943 ) — (961 ) (37,674 ) 3,945 — 54 (33,675 ) Tax loss carry forwards 1,719 34,301 613 — 957 37,590 (3,584 ) — (56 ) 33,950 Total (203 ) — 44 — — (159 ) 44 — — (115 ) |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Trade And Other Receivables [Abstract] | |
Trade and Other Receivables | 20) TRADE AND OTHER RECEIVABLES As at March 31 Particulars 2017 2018 Trade and other receivables, net 29,003 49,204 Due from employees 109 108 Security deposits, net 7,575 6,704 Interest accrued on term deposits 597 2,299 Total 37,284 58,315 Non-current 2,176 1,929 Current 35,108 56,386 Total 37,284 58,315 The trade receivables primarily consist of airline, corporate and retail customers. Security deposits include amounts paid in advance to suppliers of hotel and other services in order to guarantee the provision of those services. The management does not consider there to be significant concentration of credit risk relating to trade and other receivables. The Group’s exposure to credit and currency risks and impairment losses related to trade and other receivables is disclosed in note 5 and 35. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Mar. 31, 2018 | |
Cash And Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | 21) CASH AND CASH EQUIVALENTS As at March 31 Particulars 2017 2018 Cash in hand 88 128 Funds in transit 22,348 33,123 Bank balances 59,262 74,239 Term deposits 20,006 80,157 Total 101,704 187,647 Funds in transit represents the amount collected from customers through credit cards /net banking which is outstanding as at the year end and credited to Group’s bank accounts subsequent to the year end. The Group’s exposure to interest rate risk and a sensitivity analysis for financial assets and financial liabilities is disclosed in note 5 and 35. |
Term Deposits
Term Deposits | 12 Months Ended |
Mar. 31, 2018 | |
Term Deposit [Abstract] | |
Term Deposits | 22) TERM DEPOSITS As at March 31 Particulars 2017 2018 Term deposits 95,673 202,335 Total 95,673 202,335 Non-current 20,162 165 Current 75,511 202,170 Total 95,673 202,335 As of March 31, 2018, term deposits with banks include USD 90 (March 31, 2017: USD 90) against which mainly letters of credit have been issued to various airlines. As of March 31, 2018, term deposits include USD 1,710 (March 31, 2017: USD 1,200) pledged with banks against bank guarantees, bank overdraft facility and other facilities. |
Other Current Assets
Other Current Assets | 12 Months Ended |
Mar. 31, 2018 | |
Other Current Assets [Abstract] | |
Other Current Assets | 23) OTHER CURRENT ASSETS As at March 31 Particulars 2017 2018 Advance to suppliers 46,029 70,196 Prepaid expenses 3,500 4,578 Prepaid lease rentals 268 313 Receivable from related party — 17,100 Other assets 435 355 Total 50,232 92,542 Receivable from related party represents entitlement received by the Company on future proceeds from sale of stake in an Indian entity, engaged in the business-to-business online travel industry, from MIH Internet SEA Pte Ltd. pursuant to the acquisition of ibibo Group (refer note 7(a)). This entitlement has been classified as “Available-for-sale Financial Assets” as per IAS 39 “Financial Instruments: Recognition and measurement”. The Group’s exposure to risks and fair value measurement is disclosed in note 5 and 35. |
Assets Held For Sale
Assets Held For Sale | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Assets Held For Sale [Abstract] | |
Assets Held For Sale | 24) ASSETS HELD FOR SALE Assets classified as held for sale includes: As at March 31 Particulars 2017 2018 Property, plant and equipment 302 1,220 Total 302 1,220 Assets held for sale as at March 31, 2017 mainly include leasehold improvements which were sold in April 2017. In February 2017, the management of the Company had decided to curtail its operations in HT group, and consequently in July 2017, Land and Building relating to HT Group have been classified under assets held for sale as the Company intends to sell these assets in its present condition and search for an active buyer has been initiated. The fair value of these assets has been categorized under Level 3 of the fair value hierarchy which has been determined based on the consideration agreed with the buyer or independent valuation report obtained by the Company. |
Other Non-Current Assets
Other Non-Current Assets | 12 Months Ended |
Mar. 31, 2018 | |
Other Non Current Assets [Abstract] | |
Other Non-Current Assets | 25) OTHER NON-CURRENT ASSETS As at March 31 Particulars 2017 2018 Prepaid lease rentals 2,833 2,336 Indirect tax paid 11,410 11,385 Prepaid expenses 315 886 Receivable from related party 15,100 — Total 29,658 14,607 Indirect tax paid represents service tax paid under protest. In the year ended March 31, 2016, investigation was initiated by Directorate General of Central Excise Intelligence (DGCEI) for certain service tax matters in India. On September 1, 2016, the Delhi High Court ordered for refund of the entire amount deposited under protest within 4 weeks from the date of the order. However, DGCEI filed an appeal against the order of the High Court before the Supreme Court of India with an application to stay the grant of refund. The stay on refund was granted and the proceedings in this matter are still under progress. The Company believes that it has a strong case in its favor based on its counsels’ opinions and no reserve is required to be set-up as at March 31, 2018. Receivable from related party represents entitlement received by the Company on future proceeds from sale of stake in an Indian entity, engaged in the business-to-business online travel industry, from MIH Internet SEA Pte Ltd. pursuant to the acquisition of ibibo Group (refer note 7(a) and 23). This entitlement has been classified as “Available-for-sale Financial Assets” as per IAS 39 “Financial Instruments: Recognition and measurement”. The Group’s exposure to risks and fair value measurement is disclosed in note 5 and 35. |
Capital and Reserves
Capital and Reserves | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Capital and Reserves | 26) CAPITAL AND RESERVES A. Share Capital and Share Premium Ordinary Shares* Class B Shares* Particulars Number Share capital Share premium Number Share capital Share premium Balance as at April 1, 2016 41,706,428 21 248,732 — — — Own shares acquired (144,131 ) — — — — — Shares issued during the year on exercise of share based awards 873,834 1 18,275 — — — Reissue of own shares on conversion of convertible notes 659,939 — 999 — — — Issue of ordinary shares on conversion of convertible notes 9,197,089 5 148,101 — — — Issued in business combination 413,035 — 12,493 38,971,539 19 1,178,773 Balance as at March 31, 2017 52,706,194 27 428,600 38,971,539 19 1,178,773 Balance as at April 1, 2017 52,706,194 27 428,600 38,971,539 19 1,178,773 Shares issued during the period on exercise of share based awards 1,137,232 1 27,462 — — — Issue of ordinary shares in placement offer, net of issuance costs 5,500,000 3 195,514 3,666,667 2 130,342 Balance as at March 31, 2018 59,343,426 31 651,576 42,638,206 21 1,309,115 * Par value of USD 0.0005 per share i. Ordinary shares In October 2016, the Company re-issued 659,939 of its own shares and issued 9,197,089 new ordinary shares upon conversion of convertible notes (refer note 28). In January 2017, the Company issued 38,971,539 Class B shares and 413,035 ordinary shares as part of the acquisition of Ibibo Group Holdings (Singapore) Pte. Ltd. (‘ibibo Group’) (refer note 7 (a)). During the fiscal year ended March 31, 2017, the Company purchased 144,131 of its own shares from the open market at the prevailing market price for USD 2,050, including directly attributable costs. In May 2017, the Company completed a private placement offering of 5,500,000 of its ordinary shares to various investors (including 916,666 of its ordinary shares to an existing shareholder) at a price of USD 36 per share and 3,666,667 Class B shares to an existing shareholder at a price of USD 36 per share. The offering resulted in gross proceeds of USD 330,000 and net proceeds of USD 325,861 to the Company. The Company incurred expenses of USD 4,139 for the issuance of the shares which has been adjusted against the share premium. The Company presently has ordinary shares and Class B Convertible Ordinary Shares (“Class B Shares”) with par value of $0.0005 per share. The terms of issue generally provide that the Class B Shares issued to any shareholder will have the same powers and relative participation rights as ordinary shares of the Company and shall vote together with ordinary shares as a single class on all matters on which the Company shareholders are entitled to vote, except as required by applicable law. The Class B Shares will be convertible into an equal number of ordinary shares, which shall be fully paid, non-assessable and free of any preemptive rights, of the Company on demand at the election of the holder, and will be automatically converted into an equal number of ordinary shares upon the transfer of Class B Shares to another party. Mauritius law mandates that any dividends shall be declared out of the distributable profits, after having set off accumulated losses at the beginning of the accounting period and no distribution may be made unless the Group’s board of directors is satisfied that upon the distribution being made (1) the Company is able to pay its debts as they become due in the normal course of business and (2) the value of the Company’s assets is greater than the sum of (a) the value of its liabilities and (b) Company’s stated capital. Should the Company declare and pay any dividends on ordinary shares, such dividends will be paid in USD to each holder of ordinary shares in proportion to the number of shares held to the total ordinary shares outstanding as on that date. In the event of liquidation of the Company, all preferential amounts, if any, shall be discharged by the Company. The remaining assets of the Company shall be distributed to the holders of Class B shares at par with ordinary shares in proportion to the number of shares held to the total ordinary shares outstanding as on that date. B. Nature and purpose of reserves i. Foreign currency translation reserve The translation reserve comprises foreign currency differences arising from the translation of the financial statements of the Indian, Singapore, Malaysia, Hong Kong, the Netherlands, Thailand, U.A.E, Israel, Peru, Colombia and China subsidiaries. ii. Fair value reserve The fair value reserve comprises the cumulative net change in the fair value of available-for-sale financial assets until the assets are derecognised or impaired. iii. Share-based payment reserve Share-based payment reserve comprises the value of equity-settled share based awards provided to employees including key management personnel, as part of their remuneration. iv. Reserve for own shares The reserve for the Company’s treasury shares comprises the cost of the Company’s shares held by the Group. C. Capital management Equity share capital and other equity are considered for the purpose of Group’s capital management. The Group’s objective for capital management is to manage its capital so as to safeguard its ability to continue as a going concern and to support the growth of the Group. The capital structure of the Group is based on management’s judgement of its strategic and day-to-day needs with a focus on total equity so as to maintain investors, creditors and market confidence. The funding requirements are met through equity and operating cash. The Group is not subject to any externally imposed capital requirements. |
Loss Per Share
Loss Per Share | 12 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Loss Per Share | 27) LOSS PER SHARE The following is the reconciliation of the loss attributable to ordinary shareholders (including Class B shareholders) and weighted average number of ordinary shares (including Class B shares) used in the computation of basic and diluted loss per share for the year ended March 31, 2016, 2017 and 2018: For the year ended March 31 Particulars 2016 2017 2018 Loss attributable to ordinary shareholders (including Class B shareholders) (88,518 ) (110,168 ) (218,412 ) Weighted average number of ordinary shares (including Class B shares) outstanding used in computing basic loss per share 41,714,518 52,607,986 100,394,080 Weighted average number of ordinary shares (including Class B shares) outstanding used in computing dilutive loss per share 41,714,518 52,607,986 100,394,080 Loss per share (USD) Basic (2.12 ) (2.09 ) (2.18 ) Diluted (2.12 ) (2.09 ) (2.18 ) For the year ended March 31, 2018, 4,832,824 (March 31, 2017: 3,319,322, March 31, 2016: 2,547,777) employees share based awards, were excluded from the calculation of diluted weighted average number of ordinary shares as their effect would have been anti-dilutive. For the year ended March 31, 2018, Nil (March 31, 2017: 5,428,117, March 31, 2016: 1,946,604) ordinary shares issuable on conversion of convertible notes, were excluded from the calculation of diluted weighted average number of ordinary shares as their effect would have been anti-dilutive. |
Loans and Borrowings
Loans and Borrowings | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Loans And Borrowings [Abstract] | |
Loans and Borrowings | 28) LOANS AND BORROWINGS This note provides information about the contractual terms of Group’s interest bearing loans and borrowings, which are measured at amortized cost/fair value. For more information about the Group’s exposure to interest rate, foreign currency and liquidity risk, refer note 5 and 35. As at March 31 Particulars 2017 2018 Non-current liabilities Secured bank loans 523 424 Non-current portion of loans and borrowings 523 424 As at March 31 Particulars 2017 2018 Current liabilities Current portion of secured bank loans 226 228 Current portion of loans and borrowings 226 228 Convertible Notes In January 2016, the Company issued 4.25% convertible notes of USD 180,000 in two tranches to Ctrip.com International, Ltd., which were redeemable after 5 years at par value. The Company incurred USD 2,730 as transaction costs during the year ended March 31, 2016 on issuance of the convertible notes. The convertible notes could also be converted into ordinary shares of the Company at any time till the maturity of the convertible notes at the option of the holder at the conversion price of USD 21.45 per share. Interest on the convertible notes was payable on semi-annual basis. Under the terms of issue, the holder had a right to redeem these convertible notes in whole or in part before the maturity on occurrence of certain events, including but not limited to a change in control, or liquidation of the company. Further, the convertible notes had few adjustment clauses which along with preserving the relative economic interests of the holder also protect the holder from decline in the market value of the Company’s securities. The price protection clause may result in the entity issuing variable number of shares on conversion hence, represents a liability. The conversion option was presented together with the related liability as a derivative, and accounted for at fair value. The liability component was initially recognized at fair value less any directly attributable transaction costs. On initial recognition, the fair value of convertible notes was different from its transaction price, but this fair value measurement was not evidenced by a valuation technique that uses only data from observable markets, accordingly, the carrying amount of the convertible notes on initial recognition was adjusted to defer the difference between the fair value measurement and the transaction price. This deferred difference was subsequently recognized as a gain or loss over the period of maturity of the convertible notes. Subsequent to initial recognition, the liability component of the convertible notes was being measured at amortized cost using the effective interest method. The conversion option was being subsequently measured at fair value at each reporting date with changes in fair value recognized in profit or loss. Fair value of liability component and derivative as at inception: Particulars Fair value of liability component at inception 133,321 Fair value of derivative at inception 52,912 Proceeds from issue of convertible notes (180,000 ) Deferred difference 6,233 During the year ended March 31, 2018, the Company recognized an expense of USD Nil (March 31, 2017: USD 5,941) on account of amortization of the deferred difference explained above. On October 18, 2016, the Company announced an agreement to acquire 100% equity stake in ibibo Group, a leading online travel company in India, from Parent (refer note 7 (a)). Further, Ctrip delivered a notice of adjustment of conversion rate to the Company on October 18, 2016 and pursuant to this, the Company issued 9,857,028 ordinary shares (including 1,465,420 additional shares) to Ctrip in accordance with the terms of the convertible notes agreement. In October, 2016, the Company re-issued 659,939 of its own shares and issued 9,197,089 new ordinary shares upon conversion of convertible notes. The carrying amount of the liability component is summarized below: Particulars Carrying amount of liability at the beginning of the year 134,770 Accretion of interest 8,210 Payment of interest (3,749 ) Conversion of notes during the year (139,231 ) Carrying amount of liability as at March 31, 2017 — The carrying amount of derivative is summarized below: Particulars Carrying amount of derivative at the beginning of the year 61,929 Net gain on change in fair value of derivative (42,427 ) Conversion of notes during the year (19,502 ) Carrying amount of derivative as at March 31, 2017 — Terms and debt repayment schedule of bank loans: Terms and conditions of outstanding loans are as follows: As at March 31, 2017 As at March 31, 2018 Particulars Currency Interest rate Year of maturity Original value Carrying amount Original value Carrying amount Secured bank loans INR 8% - 13% 2017 - 2024 1,080 749 1,079 652 The bank loans are secured over motor vehicles with a carrying amount of USD 584 as at March 31, 2018 (March 31, 2017: USD 689). Credit facility The group has fund based limits with various banks amounting to USD 5,389 as at March 31, 2018 (March 31, 2017: USD 5,401). The group has drawn down from its outstanding limit amounting to USD Nil as at March 31, 2018 (March 31, 2017: USD Nil) (refer note 21). |
Other Current Liabilities
Other Current Liabilities | 12 Months Ended |
Mar. 31, 2018 | |
Miscellaneous Current Liabilities [Abstract] | |
Other Current Liabilities | 29) OTHER CURRENT LIABILITIES As at March 31 Particulars 2017 2018 Statutory liabilities 4,037 11,442 Deferred rent liabilities 13 14 Employee related payables 5,514 5,596 Other liabilities 4 — Total 9,568 17,052 |
Other Non- current Liabilities
Other Non- current Liabilities | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Non Current Liabilities [Abstract] | |
Other Non- current Liabilities | 30) OTHER NON-CURRENT LIABILITIES As at March 31 Particulars 2017 2018 Deferred rent liabilities 1,027 1,617 Employee related payables — 584 Total 1,027 2,201 |
Deferred Revenue
Deferred Revenue | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Deferred Income [Abstract] | |
Deferred Revenue | 31) DEFERRED REVENUE As at March 31 Particulars 2017 2018 Global Distribution System providers 1,809 91 Loyalty programme 1,032 937 Others 469 325 Total 3,310 1,353 Non-current 265 91 Current 3,045 1,262 Total 3,310 1,353 The Group requires the services of a Global Distribution System (“GDS”) provider for facilitating the booking of airline tickets on its websites or other distribution channels. There are various GDS companies like Abacus, Amadeus, Galileo, etc. These companies usually pay upfront fee to travel agents for using their system as they get paid by airlines on the basis of airline tickets booked through their GDS, which is recognized as revenue on the proportion of actual airline tickets sold over the total estimated airline tickets to be sold or is recognized on a straight line basis in case of upfront fee to promote hotel and packages, over the term of the agreement and the balance amount is recognized as deferred revenue. The Company provides various loyalty programs under which participating customers earn loyalty points or qualifying spends under loyalty programs on current transactions that can be redeemed for future qualifying transactions. Revenue is allocated between the loyalty programme and the other components of the sale. The amount allocated to the loyalty programme is deferred, and is recognized as revenue when the Group fulfills its obligations to supply the discounted products/services under the terms of the programme or when it is no longer probable that the points under the programme will be redeemed. Further, when loyalty programs are used as part of the Group’s customer inducement/ acquisition programs, the related cost for providing discounted products/services is recognized as marketing and sales promotion expense, accordingly, the amounts allocated to such loyalty programme are classified as marketing and sales promotion expense payable included under accrued expenses in note 34. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Employee Benefits | 32) EMPLOYEE BENEFITS As at March 31 Particulars 2017 2018 Net defined benefit asset 229 — Total employee benefit asset 229 — Net defined benefit liability 1,594 2,458 Other long term employee benefit (liability for compensated absences) 1,352 1,263 Total employee benefit liabilities 2,946 3,721 As at March 31 Particulars 2017 2018 Present Value of unfunded obligation 1,594 2,458 Total 1,594 2,458 Defined Benefit Plan The Group’s gratuity schemes for the employees of its Indian subsidiaries (MakeMyTrip (India) Private Limited and Ibibo Group Private Limited) are defined benefit plans. The plan in Ibibo Group Private Limited (‘GI India’) is funded and plan in MakeMyTrip (India) Private Limited (‘MMT India’) is unfunded. Gratuity is paid as a lump sum amount to employees at retirement or termination of employment at an amount based on the respective employee’s eligible salaries and the years of employment with the Group. A. Movement in the net defined benefit (asset) liability The following table shows a reconciliation from the opening balances to the closing balances for the net defined (asset) liability and its components. Particulars Defined benefit obligation Fair value of plan assets Net defined benefit liability 2017 2018 2017 2018 2017 2018 Balance as at April 1 1,085 2,236 — (871 ) 1,085 1,365 Acquired through business combination 583 — (806 ) — (223 ) — Included in profit or loss Current service cost 284 546 — — 284 546 Past service cost — 236 — — — 236 Interest cost (income) 85 131 (6 ) (45 ) 79 86 369 913 (6 ) (45 ) 363 868 Included in other comprehensive income Remeasurement loss (gain) : -Actuarial loss (gain) arising from : -demographic assumptions (12 ) — — — (12 ) — -financial assumptions 16 (14 ) — — 16 (14 ) -experience adjustment 284 458 — — 284 458 -Return on plan assets excluding interest income — — (22 ) (22 ) (22 ) (22 ) 288 444 (22 ) (22 ) 266 422 Effects of movement in exchange rates 68 (13 ) (38 ) 1 30 (12 ) Other Benefits paid (157 ) (586 ) 1 401 (156 ) (185 ) Balance as at March 31 2,236 2,994 (871 ) (536 ) 1,365 2,458 As at March 31 Represented by: 2017 2018 Net defined benefit liability (MMT India) 1,594 2,004 Net defined benefit (asset)/liability (GI India) (229) 454 B. Plan assets Plan assets comprise the following: As at March 31 Particulars 2017 2018 Funds managed by the insurer 100 % 100 % C. Actuarial assumptions Principal actuarial assumptions are given below: As at March 31 Particulars 2017 2018 Discount rate (per annum) 6.70 % 7.10 % Future salary growth (per annum) 10.00%-11.00% 11.00 % Withdrawal rate 25.00 % 25.00 % Retirement age (years) 58-60 58-60 Assumptions regarding future mortality rates are based on Indian Assured Lives Mortality (2006-08) (modified) Ultimate as published by Insurance Regulatory and Development Authority (IRDA). The actuarial valuation is carried out half yearly by an independent actuary. The discount rate used for determining the present value of obligation under the defined benefit plan is determined by reference to market yields at the end of the reporting period on Indian Government Bonds. The currency and the term of the government bonds is consistent with the currency and term of the defined benefit obligation. The future salary growth rate takes into account inflation, seniority, promotion and other relevant factors on long-term basis. D. Sensitivity analysis Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below: Particulars For the year ended March 31, 2017 For the year ended March 31, 2018 Increase Decrease Increase Decrease Discount rate (1% movement) (88 ) 95 (119 ) 129 Future salary growth (1% movement) 80 (77 ) 110 (106 ) Withdrawal rates (10% movement) (200 ) 302 (323 ) 511 |
Share Based Payment
Share Based Payment | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Share Based Payment | 33) SHARE BASED PAYMENT Description of the share based payment arrangements Share Option Programs (Equity-Settled) a) MakeMyTrip.com Equity Option Plan (MMT ESOP Plan) In 2000, the Group approved a share option programme in Mauritius, named the MakeMyTrip.com Equity Option Plan (“MMT ESOP Plan”). In June 2009, this plan was expanded in order to issue share options to employees of subsidiaries and directors of the Group. The Group replaced certain share options to acquire shares in its Indian subsidiary held by employees at its subsidiaries with options granted under the MMT ESOP Plan. Total options granted under this plan were 2,703,810 during the year ended March 31, 2010. No options were granted during the year ended March 31, 2016, 2017 and 2018. The number and weighted average exercise price of share options under MMT ESOP plan are as follows: Weighted Average Exercise Price per share (USD) Number of Options Weighted Average Exercise Price per share (USD) Number of Options Weighted Average Exercise Price per share (USD) Number of Options For the Year Ended March 31 Particulars 2016 2016 2017 2017 2018 2018 Outstanding at beginning of the year 1.47 382,439 1.45 379,939 1.14 333,121 Granted during the year — — — — — — Forfeited and expired during the year — — — — — — Exercised during the year 5.39 (2,500 ) 3.64 (46,818 ) 0.63 (71,711 ) Outstanding at the end of the year 1.45 379,939 1.14 333,121 1.28 261,410 Exercisable at the end of the year 1.45 379,939 1.14 333,121 1.28 261,410 The options outstanding at March 31, 2018 have an exercise price per share in the range of USD 0.742 to USD 1.9765 (March 31, 2017: USD 0.4875 to USD 1.9765 and March 31, 2016: USD 0.4875 to USD 5.057) and a weighted average contractual life of 3 years and 3 months (March 31, 2017: 3 months and March 31, 2016: 1 years and 3 months). During the year ended March 31, 2018, share based payment expense for these options recognized under personnel expenses (refer note 12) amounted to Nil (March 31, 2017: Nil and March 31, 2016: Nil). b) Share Incentive Plan In 2010, the Group approved a share incentive plan in Mauritius, named the MakeMyTrip 2010 Share Incentive Plan (“Share Incentive Plan”). During the year ended March 31, 2016, 2017 and 2018, the Group granted restricted share units, or RSUs, under the plan to eligible employees and non-employees. Each RSU represents the right to receive one common share. Terms and Conditions of the Share Incentive Plan The terms and conditions relating to the grants under Share Incentive Plan are given below: Grant details Number of instruments Vesting conditions Contractual life of RSUs RSUs granted during the year ended March 31, 2016 947,516 Refer notes 4 – 8 years RSUs granted during the year ended March 31, 2017 4,481,294 Refer notes 4 – 10 years RSUs granted during the year ended March 31, 2018 690,757 Refer notes 4 – 8 years Notes: 1. Of the RSU granted during the year ended March 31, 2018: • 690,757 (March 31, 2017: 3,348,389 and March 31, 2016: 936,658) RSUs have graded vesting over 4 years: 10% on the expiry of 12 months from the grant date, 20% on the expiry of 24 months from the grant date, 30% on the expiry of 36 months from the grant date, 40% on the expiry of 48 months from the grant date. • Nil (March 31, 2017: 3,000 and March 31, 2016: 2,458) RSUs were fully vested on the grant date. • These RSUs can be exercised within a period of 48 months from the date of vesting. 2. 8,400 RSUs granted in the year ended March 31, 2016 have graded vesting over 2 years: 3,600 on the expiry of 12 months from the grant date, 4,800 on the expiry of 24 months from the grant date and exercisable within a period of 6 months from the date of vesting. 3. In connection with the acquisition of ibibo Group, the Group exchanged share-based payment awards held by the employees of the ibibo Group for 1,129,905 RSUs. (Refer note 7(a)). These RSUs can be exercised with in a period of 10 years from the grant date i.e. January 31, 2017. The number and weighted average exercise price of RSUs under the share incentive plan are as follows: Weighted Average Exercise Price per share (USD) Number of Awards Weighted Average Exercise Price per share (USD) Number of Awards Weighted Average Exercise Price per share (USD) Number of Awards For the Year Ended March 31 Particulars 2016 2016 2017 2017 2018 2018 Outstanding at beginning of the year 0.0005 2,330,743 0.0005 2,867,713 0.0005 6,367,186 Granted during the year 0.0005 947,516 0.0005 4,481,294 0.0005 690,757 Forfeited and expired during the year 0.0005 (177,775 ) 0.0005 (154,805 ) 0.0005 (559,023 ) Exercised during the year 0.0005 (232,771 ) 0.0005 (827,016 ) 0.0005 (1,065,521 ) Outstanding at the end of the year 0.0005 2,867,713 0.0005 6,367,186 0.0005 5,433,399 Exercisable at the end of the year 0.0005 1,138,321 0.0005 1,325,558 0.0005 1,313,158 The grant date fair value of RSUs granted during the year is in the range of USD 28.75 to USD 33.55 (March 31, 2017: USD 14.86 to USD 32.70 and March 31, 2016: USD 13.75 to USD 21.96). The RSUs outstanding at March 31, 2018 have an exercise price per share of USD 0.0005 (March 31, 2017: USD 0.0005 and March 31, 2016: USD 0.0005) and a weighted average contractual life of 5.2 years (March 31, 2017: 6.2 years and March 31, 2016: 4.5 years). During the year ended March 31, 2018, share based payment expense recognized under personnel expenses (refer note 12) amounted to USD 44,730 (March 31, 2017: USD 26,620 and March 31, 2016: USD 13,685) and, under legal and professional expenses (refer note 13) amounted to USD 144 (March 31, 2017 : Nil and March 31, 2016 : Nil) for the RSUs granted under the share incentive plan. c) Bona Vita Employees Stock Option Plan 2016 In 2016, one of the Group’s subsidiary approved a share incentive plan in India, named the Bona Vita Employees Stock Option Plan 2016 (“Bona Vita ESOP Plan”). During the year ended March 31, 2018, the subsidiary granted 11,789 employees stock options (March 31 2017: 25,032) , or ESOP, under the plan to eligible employees. Each ESOP represents the right to receive one common share of the subsidiary. ESOPs have graded vesting over 4 years from the grant date with first vesting date after one year from the grant date. The contractual life of the ESOPs granted under this plan is 10 years from the vesting date. The number and weighted average exercise price of Employee stock options under the Bona Vita ESOP Plan are as follows: Weighted Average Exercise Price per share (USD) Number of Awards Weighted Average Exercise Price per share (USD) Number of Awards For the Year Ended March 31 Particulars 2017 2017 2018 2018 Outstanding at beginning of the year — — 0.0154 21,711 Granted during the year 0.0154 25,032 0.0154 11,789 Forfeited and expired during the year 0.0154 (3,321 ) 0.0154 (11,545 ) Exercised during the year 0.0154 — — — Outstanding at the end of the year 0.0154 21,711 0.0154 21,955 Exercisable at the end of the year — — 0.0154 11,370 Inputs for Measurement of Grant Date Fair Values of Bona Vita ESOP Plan For the Year Ended March 31 Fair value of ESOP and assumptions 2017 2018 Share price at grant date (USD) 14.68 14.64 - 29.19 Fair value at grant date (USD) 14.68 14.64 - 29.19 Exercise price (USD) 0.0154 0.0154 Expected volatility 41.67% -43.56% 41.67% - 43.56% Expected term 10 years 10 years Expected dividends — — Risk-free interest rate 7.55% - 7.72% 7.55% - 7.72% The ESOPs outstanding at March 31, 2018 have an exercise price per share of USD 0.0154 (March 31, 2017: USD 0.0154) and a weighted average contractual life of 10.4 years (March 31, 2017: 11.1 years). During the year ended March 31, 2018, share based payment expense recognized (reversed) under personnel expenses (refer note 12) amounted to USD (14) (March 31, 2017: USD 175) for the ESOPs granted under the Bona Vita ESOP plan. |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Trade And Other Payables [Abstract] | |
Trade and Other Payables | 34) TRADE AND OTHER PAYABLES As at March 31 Particulars 2017 2018 Other trade payables 36,669 74,814 Accrued expenses 42,077 43,012 Advance from customers 42,453 63,604 Advance from vendor 364 — Total 121,563 181,430 The Group's exposure to currency and liquidity risk related to trade and other payables is disclosed in note 5 and 35 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial Instruments | 35) FINANCIAL INSTRUMENTS Credit Risk Exposure to Credit Risk The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was: As at March 31 Particulars 2017 2018 Trade and other receivables 37,284 58,315 Other assets* 15,535 17,100 Term deposits 95,673 202,335 Cash and cash equivalents (except cash in hand) 101,616 187,519 Total 250,108 465,269 *Other assets mainly includes receivable from related party of USD 17,100 (March 31, 2017: USD 15,100) (refer note 23 and 25). The Group does not expect the related party to fail in meeting its obligations. The maximum exposure to credit risk is represented by the carrying amount of this financial asset. The maximum exposure to credit risk for trade and other receivables at the reporting date by geographic region was: As at March 31 Particulars 2017 2018 India 27,692 46,006 Thailand 3,994 5,475 Malaysia 803 609 Singapore 2,001 1,692 Netherlands 65 11 Others 2,729 4,522 Total 37,284 58,315 The maximum exposure to credit risk for trade and other receivables and term deposits at the reporting date by type of counterparty was: As at March 31 Particulars 2017 2018 Airlines 13,556 26,365 Retail customers 7,047 4,092 Corporate customers 6,983 18,231 Deposit with hotels and others 7,576 6,704 Term deposits with bank 95,673 202,335 Others 2,122 2,923 Total 132,957 260,650 Impairment Losses The age of trade and other receivables and term deposits at the reporting date was: As at March 31 2017 2018 Particulars Gross Impairment Gross Impairment Not past due 124,596 — 245,249 — Past due 0-30 days 4,287 — 5,161 — Past due 30-120 days 2,919 — 5,968 — More than 120 days 3,699 2,544 5,851 1,579 Total 135,501 2,544 262,229 1,579 The movement in the allowance for doubtful debts in respect of trade and other receivables during the year was as follows: For the year ended March 31 Particulars 2017 2018 Balance at the beginning of the year 1,515 2,544 Acquisition through business combination 182 — Allowance for doubtful debts 973 150 Amounts written off against the allowance (145 ) (1,102 ) Effects of movement in exchange rate 19 (13 ) Balance at the end of the year 2,544 1,579 Allowance for doubtful debts mainly represents amounts due from airlines, and retail customers. Based on historical experience, the Group believes that no impairment allowance is necessary, apart from above, in respect of trade receivables. Liquidity risk The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements: As at March 31, 2017 Non-derivative financial liabilities Carrying amount Contractual cash flows* 6 months or less 6 - 12 months 1 - 2 years 2 - 5 years More than 5 years Secured bank loans 749 (890 ) (146 ) (142 ) (262 ) (337 ) (3 ) Trade and other payables 78,746 (78,746 ) (78,746 ) — — — — Other liabilities 5,518 (5,518 ) (5,518 ) — — — — Total 85,013 (85,154 ) (84,410 ) (142 ) (262 ) (337 ) (3 ) Notes: * Represents undiscounted cash flows of interest and principal As at March 31, 2018 Non-derivative financial liabilities Carrying amount Contractual cash flows* 6 months or less 6 - 12 months 1 - 2 years 2 - 5 years More than 5 years Secured bank loans 652 (756 ) (143 ) (136 ) (214 ) (254 ) (9 ) Trade and other payables 117,826 (117,826 ) (117,826 ) — — — — Other liabilities 6,180 (6,300 ) (5,116 ) (585 ) (599 ) — — Total 124,658 (124,882 ) (123,085 ) (721 ) (813 ) (254 ) (9 ) __________________ Notes: * Represents undiscounted cash flows of interest and principal Currency Risk Exposure to Currency Risk The Group is exposed to currency risk to the extent that there is a mismatch between the currencies in which sales and purchase of services are denominated and the respective functional currencies of Group companies. The functional currencies of Group companies are primarily the INR and USD. The currencies in which these transactions are primarily denominated are INR, US dollars, and Euro. The Group’s exposure to foreign currency risk was based on the following amounts as at the reporting dates (in equivalent USD): Between USD and INR As at March 31 Particulars 2017 2018 Trade and other receivables 7,806 11,163 Trade and other payables (65,427 ) (99,176 ) Cash and cash equivalents 83 1,279 Net exposure (57,538 ) (86,734 ) Between EUR and USD As at March 31 Particulars 2017 2018 Trade and other receivables 416 — Trade and other payables (737 ) (485 ) Cash and cash equivalents 16 19 Net exposure (305 ) (466 ) The following significant exchange rates applied during the year: Average exchange rate per unit Reporting date rate per unit As at March 31 USD 2016-17 2017-18 2017 2018 INR 1 0.0149 0.0155 0.0154 0.0154 EUR 1 1.0975 1.1705 1.0682 1.2324 Sensitivity Analysis Any change in the exchange rate of USD against currencies other than INR and EUR is not expected to have significant impact on the Group’s profit or loss. Accordingly, a 10% appreciation of the USD as indicated below, against the INR would have increased loss by the amounts shown below and a 10% appreciation of the EUR as indicated below, against the USD would have increased loss by the amounts shown below. This analysis is based on foreign currency exchange rate variances that the Group considered to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables remain constant. For the year ended March 31 Particulars 2017 2018 10% strengthening of USD against INR (5,480 ) (8,260 ) 10% strengthening of EUR against USD (29 ) (44 ) A 10% depreciation of the USD against INR, and 10% depreciation of EUR against USD would have had the equal but opposite effect on the above currency to the amounts shown above, on the basis that all other variables remain constant. Interest Rate Risk Profile At the reporting date the interest rate profile of the Group’s interest-bearing financial instruments was as follows: As at March 31 Particulars 2017 2018 Fixed rate instruments Financial assets Term deposits 95,673 202,335 Term deposits included in Cash and cash equivalents* 20,006 80,157 Financial liabilities Secured bank loans (749 ) (652 ) 114,930 281,840 * Total cash and cash equivalents: USD 187,647 (March 31, 2017 : USD 101,704) Fair Value Sensitivity Analysis for Fixed Rate Instruments The Group does not account for any fixed rate financial assets and liabilities at fair value through profit or loss. Therefore, a change in interest rates at the reporting date would not affect profit or loss. Fair Value Fair Values versus Carrying Amounts The fair values of financial assets and liabilities, together with the carrying amounts shown in the statement of financial position, are as follows: As at March 31, 2017 As at March 31, 2018 Particulars Carrying amount Fair value Carrying amount Fair value Assets carried at fair value (Available for sale) Other investments 5,791 5,791 6,071 6,071 Receivable from related party 15,100 15,100 17,100 17,100 20,891 20,891 23,171 23,171 Assets carried at amortised cost (Loans and receivables) Trade and other receivables 37,284 37,284 58,315 58,315 Term deposits 95,673 95,673 202,335 202,335 Cash and cash equivalents 101,704 101,704 187,647 187,647 Other assets 435 435 — — (Held-to-maturity) Other investments — — 99 99 235,096 235,096 448,396 448,396 Liabilities carried at amortized cost (Other financial liabilities) Secured bank loans 749 749 652 652 Trade and other payables 78,746 78,746 117,826 117,826 Employee related payables 5,514 5,514 6,180 6,180 Other liabilities 4 4 — — 85,013 85,013 124,658 124,658 The fair value measurements of financial assets and liabilities reported above have been categorized as Level 3 fair values based on the inputs to the valuation techniques used. Fair value hierarchy The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows: • 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 asset or liability that are not based on observable market data (unobservable inputs). As at March 31, 2018 Particulars Level 1 Level 2 Level 3 Total Other investments — — 6,071 6,071 Receivable from related party — — 17,100 17,100 Total Assets — — 23,171 23,171 As at March 31, 2017 Particulars Level 1 Level 2 Level 3 Total Other investments — — 5,791 5,791 Receivable from related party — — 15,100 15,100 Total Assets — — 20,891 20,891 The following tables shows a reconciliation from the beginning balances to the ending balances for fair value measurement in Level 3 of the fair value hierarchy: As at March 31, 2018 Particulars Other investments Receivable from related party Opening balances 5,791 15,100 Total gains and losses recognized in: —other comprehensive income 280 2,000 Closing balances 6,071 17,100 As at March 31, 2017 Particulars Other investments Separable embedded derivative Receivable from related party Opening balances 6,690 61,929 — Acquired through business combination — — 15,010 Total gains and losses recognized in: —(profit) or loss — (42,427 ) — —other comprehensive income (loss) (899 ) — 90 Conversion of notes into ordinary shares — (19,502 ) — during the year (refer note 28) Closing balances 5,791 — 15,100 The basis for determining fair values is disclosed in note 4. There were no transfers between Level 1, Level 2 and Level 3 during the year. Valuation Techniques and significant unobservable inputs The following tables show the valuation techniques used in measuring Level 3 fair values as at March 31, 2018 and March 31, 2017, as well as the significant unobservable inputs used. Financial Instruments measured at fair value: Type Valuation technique Significant unobservable inputs Inter- relationship between significant unobservable inputs and fair value measurement Other investments Discounted cash flows: The valuation model considers the present value of expected free cash flows, discounted using a risk adjusted discount rate. Forecast annual revenue growth rate : 15% - 137% (March 31, 2017: 22% - 183%) Forecast EBITDA margin: (31%) - 17% (March 31, 2017: (18%) - 39%) Risk adjusted discount rate: 17.0% (March 31, 2017: 19.0%) The estimated fair value would increase (decrease) if : - the annual revenue growth rate were higher (lower) - the EBITDA margin were higher (lower) - the risk adjusted discount rate were lower (higher) Receivable from related party Binomial Lattice Model and Discounted Cash Flow method: The valuation model considers the discount rate, expected term, volatility, and equity value. Risk free rate: 2.5% (March 31, 2017: 1.9%) Volatility : 35.60% (March 31, 2017: 41.40%) Equity value: USD 72,720 (March 31, 2017: USD 71,500) The estimated fair value would increase (decrease) if : • the volatility were lower (higher) • the equity value were higher (lower) Financial Instruments not measured at fair value: Type Valuation technique Significant unobservable inputs Other financial assets and liabilities* Discounted cash flows Not applicable Notes: * other financial liabilities include secured bank loans, trade and other payables and other liabilities. Other financial assets include trade and other receivables, term deposits, cash and cash equivalents and other assets. Sensitivity Analysis Other investments For the fair values of other investments, reasonably possible changes of 100 basis points at the reporting date to one of the significant unobservable inputs, holding other inputs constant, would have the following effects: For the year ended March 31, 2018 Other Comprehensive Income Increase Decrease Annual revenue growth rate 364 (356 ) EBITDA Margin 144 (144 ) Risk adjusted discount rate (624 ) 738 For the year ended March 31, 2017 Other Comprehensive Income Increase Decrease Annual revenue growth rate 195 (191 ) EBITDA Margin 80 (80 ) Risk adjusted discount rate (370 ) 426 Receivable from related party For the fair values of receivables from related party, reasonably possible changes of 500 basis points at the reporting date to one of the significant unobservable inputs, holding other inputs constant, would have the following effects: For the year ended March 31, 2018 Other Comprehensive Income Increase Decrease Volatility (100 ) 100 Equity value 700 (700 ) For the year ended March 31, 2017 Other Comprehensive Income Increase Decrease Volatility (200 ) 200 Equity value 400 (400 ) Expected risk free rate is also a significant unobservable input in valuing the receivable from related party. The Company has considered reasonably possible changes of 50 basis points at the reporting date in risk free rate for the valuation of the receivable from related party however, it has no impact on the fair value of receivable from related party. |
Operating Leases
Operating Leases | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Operating Lease [Abstract] | |
Operating Leases | 36) OPERATING LEASES Leases as lessee Non-cancellable operating lease rentals are payable as follows: As at March 31 Particulars 2017 2018 Less than one year 4,825 5,072 Between one and five years 16,766 17,015 More than five years 23,251 19,781 Total 44,842 41,868 The Group leases a number of offices under operating leases. The lease period ranges for a period of three to twelve years. Lease payments are increased after a specified period under such arrangements. During the year ended March 31, 2018, USD 7,701 was recognized as rent expense under other operating expenses in profit or loss in respect of operating leases (March 31, 2017: USD 3,831, March 31, 2016: USD 2,949). |
Capital Commitments
Capital Commitments | 12 Months Ended |
Mar. 31, 2018 | |
Capital Commitments [Abstract] | |
Capital Commitments | 37) CAPITAL COMMITMENTS Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) aggregate USD 48 as at March 31, 2018 (March 31, 2017: USD 1,848). |
Related Parties
Related Parties | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Related Party [Abstract] | |
Related Parties | 38) RELATED PARTIES For the purpose of the consolidated financial statements, parties are considered to be related to the Group, if the Group has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Group and the party are subject to common control or common significant influence. Related parties may be individuals or other entities. Related parties and nature of related party relationships: Nature of relationship Name of related parties Key management personnel Deep Kalra Key management personnel Rajesh Magow Key management personnel Mohit Kabra Key management personnel Vivek N. Gour Key management personnel Aditya Tim Guleri (from April 1, 2016) Key management personnel James Jianzhang Liang# (from January 27, 2016) Key management personnel Oliver Minho Rippel* (from January 31, 2017) Key management personnel Patrick Luke Kolek* (from January 31, 2017) Key management personnel Charles St Leger Searle* (from January 31, 2017) Key management personnel Yuvraj (Raj) Thacoor* (from January 31, 2017 to April 30, 2018) Key management personnel Ashish Kashyap (from January 31, 2017 to September 30, 2017) Key management personnel Mohit Gupta (till May 31, 2017) Key management personnel Saujanya Shrivastava (from June 1, 2015 till May 31, 2017) Key management personnel Yuvaraj Srivastava (from June 1, 2015 till May 31, 2017) Key management personnel Sanjay Mohan (from June 1, 2015 till May 31, 2017) Key management personnel Ranjeet Oak (from June 1, 2015 till May 31, 2017) Key management personnel Anshuman Bapna (from July 1, 2015 till May 31, 2017) Key management personnel Frederic Lalonde (till January 31, 2017) Key management personnel Philip Wolf (till January 31, 2017) Key management personnel Ranodeb Roy (till January 31, 2017) Key management personnel Keyur Joshi (till April 30, 2015) Key management personnel Sharat Singh (from June 1, 2015 till October 9, 2015) Entity providing Key management personnel services SGG Corporate Services (Mauritius) Limited (formerly known as CIM Corporate Services Limited) Entities having significant influence over the Company and its subsidiaries Naspers Limited and its subsidiaries (from January 31, 2017) Equity — My Guest House Accommodations Private Limited Equity—accounted investee Simplotel Technologies Private Limited Equity—accounted investee Saaranya Hospitality Technologies Private Limited (from January 31, 2017) Equity-accounted investee and its subsidiaries HolidayIQ Pte. Ltd and its subsidiaries Note: #nominee of Ctrip and * nominees of MIH Internet SEA Pte. Ltd. (subsidiary of Naspers Limited) (A) Transactions with Key Management Personnel: Key Management Personnel Compensation** Key management personnel compensation comprised: For the year ended March 31 Particulars 2016 2017 2018 Short-term employee benefits 2,373 3,142 4,976 Contribution to defined contribution plan 77 108 94 Share based payment 7,688 14,892 27,714 Legal and professional 112 150 86 Total 10,250 18,292 32,870 Note: ** Provision for gratuity and compensated absences has not been considered, since the provisions are based on actuarial valuations for the Group’s entities as a whole. During the year ended March 31, 2018, USD 2,179 was accrued as severance cost to be paid to Ashish Kashyap over the period of two years in equal monthly installments as per the separation agreement entered with him. As at March 31, 2018, USD 1,656 is outstanding against amount payable towards severance cost. (B) Transactions with Entity providing Key Management Personnel Services: For the year ended March 31 Transactions 2016 2017 2018 Key management personnel services 2 3 2 Consultancy services 14 23 22 As at March 31 Balance Outstanding 2017 2018 Trade and other payables 3 — (C) Transactions with entity having significant influence over the company and its subsidiaries: a) Pursuant to the acquisition of Ibibo Group, the Company received an entitlement on future proceeds from sale of stake in an Indian entity, engaged in the business-to-business online travel industry, from MIH Internet SEA Pte. Ltd. (MIH) (subsidiary of Naspers Limited). As of March 31, 2018, other current assets include USD 17,100 (March 31, 2017: other non-current assets includes USD 15,100), which represents the fair value of the above entitlement (refer note 7 (a), 23 and 25). As per the terms of the acquisition agreement, as a key condition to the completion of the transaction, MIH contributed its pro rata share of consolidated net working capital of approximately USD 82,826 in cash to MMYT at the closing (which was subject to adjustments after completion). In May 2017, MIH agreed to the working capital adjustment and total pro rate share contributed by MIH was USD 83,260. The difference of USD 434 was receivable and was included under other current assets as at March 31, 2017 (refer note 7 (a) and 23). During the year ended March 31, 2018, the amount has been received by the Company. b) Placement of Class B Shares to MIH Internet SEA Pte Ltd: On May 5, 2017, MIH Internet SEA Pte Ltd. purchased 3,666,667 Class B Shares from the Company at a price of $36.00 per Class B share, for an aggregate consideration of USD 132,000 (refer note: 26). c) During the year ended March 31, 2017, Naspers Limited had issued letters of support of USD 8,487 to a bank for the issuance of bank guarantees (amount outstanding in respect of bank guarantee as at March 31, 2017: USD 6,258) in favor of certain suppliers of ibibo Group Private Limited, a subsidiary of MakeMyTrip Limited, in respect of amounts due and payable by ibibo Group Private Limited. During the year ended March 31, 2018, these have been annulled and no amount in respect of these letters of support is outstanding as at March 31, 2018. d) Other transactions with subsidiaries of the entity having significant influence over the company: The Company collects payment from end customers through subsidiaries of Nasper Limited which are online payment service providers. In this arrangement, payment of USD 1,252,022 (March 31, 2017: USD 140,069, March 31, 2016: Nil) is collected these entities on behalf of the Company and such amounts are remitted to the Company within a predefined time period. Further, service fee of USD 14,940 (March 31, 2017: USD 1,746, March 31, 2016: Nil) is charged by these entities for rendering these services to the Company, which is recognized under payment gateway charges (refer note 13). The Company procured air tickets of USD 21,567 (March 31, 2017: USD 3,227, March 31, 2016: Nil) as an agent from one of the subsidiary of Naspers Limited, which operates as a travel product aggregator. The Company earned USD 221, (March 31, 2017: USD 32 March 31, 2016: Nil) from this entity as commission in the current year on procurement of such tickets. Further, the Company also sold hotel room nights of USD 2,731 (March 31, 2017: USD 692, March 31, 2016: Nil) to this entity and paid commission expense of USD 70 (March 31, 2017: USD 37, March 31, 2016: Nil). The Company reimbursed expenses of USD 1 (March 31, 2017: USD 40, March 31, 2016: Nil) against various expenses incurred on behalf of the Company by the subsidiaries of Naspers Limited. As at March 31 Balance Outstanding 2017 2018 Trade and other receivables 3,156 4,879 Transactions with equity-accounted investee and its subsidiaries: a) My Guest House Accommodations Private Limited (‘MGH’) MGH has granted perpetual, transferable and irrevocable access of its technology platform license to the Company. The Company has classified the license of USD 886 as capital work in progress under intangible assets with a corresponding income in the statement of profit or loss and comprehensive income (loss) under "Other Income". The license was valued using the replacement cost method. b) Simplotel Technologies Private Limited In June 2015, the Company invested USD 469 for new shares of Simplotel Technologies Private Limited. Further, the Company invested USD 197 for new shares of Simplotel Technologies Private Limited in November 2015. In December 2016, the Company paid cash consideration of USD 590 for subscription of new compulsory convertible preference shares of Simplotel Technologies Private Limited. c) Saaranya Hospitality Technologies Private Limited (‘Saaranya’) In March 2017, the Company paid cash consideration of USD 500 for subscription of new shares issued by Saaranya which has increased its equity interest to 38.6% (Refer note 7(a)). d) HolidayIQ Pte. Ltd and its subsidiaries For the year ended March 31 Transactions 2016 2017 2018 Revenue from air ticketing 2 27 36 Services received 72 34 75 As at March 31 Balance Outstanding 2017 2018 Trade and other receivables — 10 |
List of Material Subsidiaries
List of Material Subsidiaries | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Investments In Subsidiaries [Abstract] | |
List of Material Subsidiaries | 39) LIST OF MATERIAL SUBSIDIARIES Name of entity Place of Incorporation Ownership interest as at March 31, 2017 Ownership interest as at March 31, 2018 1. MakeMyTrip Inc. Delaware, USA 100 % 100 % 2. MakeMyTrip (India) Private Limited India 100 % 100 % 3. Ibibo Group Holdings (Singapore) Pte. Ltd. Singapore 100 % 100 % 4. Ibibo Group Private Limited India 100 % 100 % 5. Luxury Tours & Travel Pte. Ltd. Singapore 100 % 100 % 6. Luxury Tours (Malaysia) Sdn Bhd. Malaysia 100 % 100 % 7. ITC Bangkok Co. Ltd. Thailand 100 % 100 % |
Contribution by Non-controlling
Contribution by Non-controlling Interest | 12 Months Ended |
Mar. 31, 2018 | |
Contribution By Non Controlling Interest [Abstract] | |
Contribution by Non-controlling Interest | 40) CONTRIBUTION BY NON-CONTROLLING INTEREST In August 2017, Bona Vita Technologies Private Limited (“Bona Vita”), one of the Parent Company’s subsidiary, raised USD 5,500 by way of rights issue to Parent Company and a new investor, H.I.S Co. Ltd., Japan (“HIS”). Bona Vita issued Series B Fully and Compulsorily Convertible, Non-Cumulative, Preference Shares (“Series B CCPS”) to Parent Company and HIS and equity shares to HIS. The amount contributed by Parent Company was USD 2,500 and by HIS was USD 3,000. |
Change in Classification
Change in Classification | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Reclassifications Or Changes In Presentation [Abstract] | |
Change in Classification | 41) CHANGE IN CLASSIFICATION (a) During the year ended March 31, 2018, the Group modified the classification of ‘employees related payables’ from ‘accrued expenses’ classified in ‘Trade and other payables’ to ‘other current liabilities’ to reflect more appropriately the nature of such payables to the employees. Comparative amounts in the notes to the consolidated financial statements were reclassified for consistency. As a result, 5,514 as at March 31, 2017 was reclassified from ‘accrued expenses’ classified in ‘Trade and other payables’ to ‘other current liabilities’. (b) During the year ended March 31, 2018, the Group modified the classification of amount received in respect of vouchers sold to corporate customers from ‘other trade payables’ classified in ‘other current liabilities’ to ‘advance from customers’ classified in ‘other current liabilities’ to reflect more appropriately the nature of such amount received. Comparative amounts in the notes to the consolidated financial statements were reclassified for consistency. As a result USD 1,870 as at March 31, 2017 was reclassified from ‘other trade payables’ to ‘advance from customers’. (c) During the year ended March 31, 2017, the Group modified the classification of ‘Employees welfare expenses’ to reflect more appropriately the nature of such costs paid to the employees. Comparative amounts in the notes to the consolidated financial statements were reclassified for consistency. As a result, USD 13 for the year ended March 31, 2016 was reclassified from ‘Employees welfare expenses’ to ‘Wages, salaries and other short term employees benefits’’ included under ‘Personnel Expense’. (d) During the year ended March 31, 2017, the Group modified the classification of ‘prepaid expenses’ between current and non-current. Comparative amounts in the consolidated statement of financial position and the related notes were reclassified for consistency. As a result, USD 53 as at March 31, 2016 was reclassified from ‘other current assets’ to ‘other non-current assets’. |
Contigencies
Contigencies | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Contingencies [Abstract] | |
Contigencies | 42) CONTIGENCIES MakeMyTrip Limited is a respondent in a Singapore International Arbitration Centre (SIAC) arbitration proceeding commenced by former shareholders of the Hotel Travel Group, which was acquired in November 2012. The dispute has arisen in connection with certain earn out provisions in the share purchase agreement dated September 26, 2012 between the Hotel Travel Group, its former shareholders and MakeMyTrip Limited, under which these former shareholders agreed to sell and transfer to MakeMyTrip Limited, the share capital of the Hotel Travel Group. The sum in dispute is approximately USD 35,000. As of date of this Annual Report, the arbitration remains pending. will continue to defend vigorously against the claims, and in addition has also brought counterclaims in these proceedings against the former shareholders in connection with breaches of the share purchase agreement. believes that it has a strong case in its favor based on its counsel’s opinion and no reserve is required to be set-up as at March 31, 2018. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Quarterly Financial Data [Abstract] | |
Quarterly Financial Data (Unaudited) | 4 3 ) QUARTERLY FINANCIAL DATA (UNAUDITED) For the three months ended Year Ended 30-Jun-17 30-Sep-17 31-Dec-17 31-Mar-18 31-Mar-18 Revenue Air ticketing 41,325 40,322 40,474 45,270 167,391 Hotels and packages 134,574 98,274 113,720 93,395 439,963 Other revenue 16,157 14,321 18,283 19,141 67,902 Total revenue 192,056 152,917 172,477 157,806 675,256 Other income 12 88 174 161 435 Service cost Procurement cost of hotel and packages Services 58,357 32,271 43,730 34,989 169,347 Other cost of providing services 1,819 1,376 1,661 1,674 6,530 Personnel expenses 29,821 29,015 26,894 28,427 114,157 Marketing and sales promotion expenses 133,021 115,947 108,971 93,879 451,818 Other operating expenses 29,599 28,272 32,632 30,063 120,566 Depreciation, amortization and impairment 7,447 7,707 6,931 10,627 32,712 Result from operating activities (67,996 ) (61,583 ) (48,168 ) (41,692 ) (219,439 ) Loss before tax (68,415 ) (62,271 ) (45,432 ) (44,031 ) (220,149 ) Loss for the period (68,454 ) (62,321 ) (45,348 ) (44,117 ) (220,240 ) For the three months ended Year Ended 30-Jun-16 30-Sep-16 31-Dec-16 31-Mar-17* 31-Mar-17* Revenue Air ticketing 23,880 23,556 38,216 32,862 118,514 Hotels and packages 95,571 57,628 82,175 78,880 314,254 Other revenue 1,775 1,925 2,857 8,291 14,848 Total revenue 121,226 83,109 123,248 120,033 447,616 Other income - 206 93 64 363 Service cost Procurement cost of hotel and packages services 62,358 29,913 46,703 34,945 173,919 Personnel expenses 13,141 14,243 13,652 32,700 73,736 Marketing and sales promotion expenses 52,679 48,358 44,552 78,835 224,424 Other operating expenses 18,669 17,419 18,202 27,295 81,585 Depreciation, amortization and impairment 2,191 2,496 3,377 21,638 29,702 Result from operating activities (27,812 ) (29,114 ) (3,145 ) (75,316 ) (135,387 ) Profit (Loss) before tax (14,284 ) (39,350 ) 16,608 (73,084 ) (110,110 ) Profit (Loss) for the period (14,314 ) (39,447 ) 16,556 (73,098 ) (110,303 ) * The operations of ibibo Group have been consolidated in the financial statements of the Group from January 31, 2017. During the three months ended March 31, 2017, ibibo Group contributed revenue of USD 28,740 and loss of USD 26,470 to the Group’s result. |
Significant Accounting Polici49
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of Consolidation | (a) Basis of Consolidation i) Subsidiaries The Group consolidates entities which it owns or controls. 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. Entities are consolidated from the date on which control commences until the date on which control ceases. ii) Investment in Associates (Equity Accounted Investees) Associates are those entities in which the Group has significant influence, but not control, over the financial and operating polices. Investments in associates are accounted for using the equity method and are recognised initially at cost. The cost of investment includes transaction costs. The consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity accounted investees, other adjustments to align the accounting policies with those of the Group, from the date on which significant influence commences until the date on which significant influence ceases. iii) Non-controlling Interests Non-controlling interests are measured at their proportionate share of the acquiree's identifiable net assets at the acquisition date. Change in the Group's interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. iv) Transactions Eliminated on Consolidation Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. |
Business Combinations | (b) Business Combinations Business combinations are accounted for using the acquisition method as at the acquisition date, which is the date on which control is transferred to the Group. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of acquisition. The cost of acquisition also includes the fair value of any contingent consideration and deferred consideration, if any. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at fair value at the date of acquisition. Transaction costs incurred in connection with a business combination are expensed as incurred, except if related to the issue of debt or equity securities. If share-based payment awards (replacement awards) are required to be exchanged for awards held by the acquiree’s employees (acquiree’s awards), then all or a portion of the amount of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based measure of the replacement awards compared with the market-based measure of the acquiree’s awards and the extent to which the replacement awards relate to pre-combination service. |
Foreign Currency | (c) Foreign Currency i) Foreign Currency Transactions Transactions in foreign currencies are translated into the respective functional currencies of the Group entities at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated into the functional currency at the exchange rate at that date. The foreign currency gains or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the period, adjusted for effective interest and payments during the period, and the amortized cost in foreign currency translated at the exchange rate at the end of the reporting period. Non-monetary assets that are measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the fair value was determined. Foreign currency differences arising on translation are recognized in profit or loss, except for the differences on available for sale equity investments, which are recognized in other comprehensive income arising on retranslation. Non-monetary items that are measured based on historical cost in a foreign currency are not translated. ii) Foreign Operations The assets and liabilities of foreign operations, including goodwill and fair value adjustment arising on acquisition, are translated to USD at exchange rates at the reporting date. The income and expenses of foreign operations are translated to USD at an average exchange rate applicable during the period. Foreign currency differences are recognized in other comprehensive income as foreign currency translation reserve (FCTR). However, if the operation is a non-wholly owned subsidiary, then the relevant proportionate share of the translation difference is allocated to non-controlling interest. When a foreign operation is disposed of, in part or in full, the relevant amount in the FCTR is transferred to profit or loss as part of the profit or loss on disposal. |
Financial Instruments | (d) Financial Instruments i) Non-Derivative Financial Assets The Group initially recognizes loans and receivables and deposits on the date that they are originated. All other financial assets are recognized initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument. The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability. Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Group has the following non-derivative financial assets which are classified into the following specified categories: ‘loans and receivables’ and ‘available for sale’. Loans and receivable comprise of ‘Trade and other receivables’, ‘Cash and cash equivalents’, ‘Term deposits’ and ‘Other assets’. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Trade and other Receivables Trade and other receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Such assets are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, trade and other receivables are measured at amortized cost using the effective interest method, less any impairment losses. Trade receivables are initially recognized at fair value which primarily represents original invoice amount less any impairment loss or an allowance for any uncollectible amounts. Provision is made when there is objective evidence that the Group may not be able to collect the trade receivable. Balances are written off when recoverability is assessed as being remote. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value, and funds in transit. Available-for-sale Financial Assets Available-for-sale financial assets are non-derivative financial assets that are either designated as available-for-sale or are not classified in any of the other categories. Available-for-sale financial assets are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at fair value and changes therein, other than impairment losses are recognized in other comprehensive income (loss) and presented within equity in the fair value reserve. When an available- for -sale financial asset is derecognized, the cumulative gain or loss in other comprehensive income (loss) is transferred to profit or loss. Available-for-sale financial assets comprise of equity securities and right acquired under business combination. Term deposits Term deposits comprise deposits with banks, which have original maturities of more than three months. Such assets are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, term deposits are measured at amortized cost using the effective interest method, less any impairment losses. Other assets Other assets mainly include receivable from related party which represents entitlement received by the Company on future proceeds from sale of stake in an Indian entity, engaged in the business-to-business online travel industry, from MIH Internet SEA Pte Ltd. pursuant to the acquisition of ibibo Group (refer note 7(a)). ii) Non-Derivative Financial Liabilities The Group recognizes financial liabilities initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument. The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position when, and only when, the Group has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Group has the following non-derivative financial liabilities: loans and borrowings, bank overdraft, other current and non-current liabilities and trade and other payables. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Bank overdrafts that are repayable on demand and form an integral part of the Group’s cash management are included as a component of cash and cash equivalents for the purpose of the consolidated statement of cash flows. iii) Share Capital Ordinary shares Ordinary shares are classified as equity with par value of $0.0005 per share. Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity. Class B Convertible Ordinary Shares Class B Convertible Ordinary shares (“Class B shares”) are classified as equity with par value of $0.0005 per share. The terms of issue generally provide that the Class B shares issued to any shareholder will have the same powers and relative participation rights as ordinary shares of the Company and shall vote together with ordinary shares as a single class on all matters on which the Company shareholders are entitled to vote, except as required by applicable law. Class B shares will be convertible into an equal number of ordinary shares, which shall be fully paid, non-assessable and free of any preemptive rights, of the Company on demand at the election of the holder, and will be automatically converted into an equal number of ordinary shares upon the transfer of Class B shares to another party. Incremental costs directly attributable to the issue of Class B shares are recognized as a deduction from equity. Repurchase and reissue of share capital (treasury shares) When share capital recognized as equity is repurchased, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the reserve for own shares. When treasury shares are sold or reissued subsequently, the amount received is recognised as an increase in equity and the resulting surplus or deficit on the transaction is presented within share premium. iv) Derivative financial instruments The Group has an embedded derivative feature in convertible notes. Derivatives are recognized initially at fair value; attributable transaction costs are recognized in profit or loss as incurred. Fair value of the derivative is determined on inception using the Black-Scholes model. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted in profit or loss. v) Convertible notes Convertible notes are convertible at the option of the holder into ordinary shares of the Company as per the terms of the issue. Conversion option which is not settled by delivering a fixed number of its own equity instruments for a fixed amount of cash is accounted for separately from the liability component as derivative and initially accounted for at fair value. The liability component is initially recognized at fair value less any directly attributable transaction costs. Directly attributable transaction costs are allocated to the liability component and the conversion option in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of the convertible notes is measured at amortized cost using the effective interest method. The conversion option is subsequently measured at fair value at each reporting date with changes in fair value recognized in profit or loss. The conversion option is presented together with the related liability. |
Property, Plant and Equipment | (e) Property, Plant and Equipment i) Recognition and Measurement Items of property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditure that is directly attributable to the acquisition of the asset. Purchased software that is integral to the functionality of the related equipment is capitalized as part of that equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment. Gains and losses on disposal of an item of property, plant and equipment are determined by comparing the proceeds from disposal with the carrying amount of property, plant and equipment, and are recognized net within “other income/other operating expenses” in the consolidated statement of profit or loss and other comprehensive income (loss). Advances paid towards the acquisition of property, plant and equipment outstanding at each reporting date and the cost of property, plant and equipment not ready to use before such date are disclosed as capital work in progress under property, plant and equipment. Items of property, plant and equipment acquired in a business combination are measured at fair value as at the date of acquisition. ii) Subsequent Costs Subsequent expenditure is recognized as an increase in the carrying amount of the asset when it is probable that future economic benefits deriving from the cost incurred will flow to the enterprise and the cost of the item can be reliably determined. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of property, plant and equipment are recognized in profit or loss as incurred. iii) Depreciation Depreciation is calculated over the depreciable amount, which is the cost of an asset or other amount substituted for cost, less its residual value. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful lives for each component of property, plant and equipment since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Leased assets are depreciated over the shorter of the lease term and their useful lives. The estimated useful lives of assets are as follows: • Computers 3-6 years • Furniture and fixtures 5-6 years • Office equipments 1-5 years • Motor vehicles 3-7 years • Diesel generator sets 7 years • Building 20 years Leasehold improvements are depreciated over the lease term or useful lives, whichever is shorter. Depreciation methods, useful lives and residual values are reviewed at each financial year end and adjusted as appropriate. |
Intangible Assets and Goodwill | (f) Intangible Assets and Goodwill i) Goodwill Goodwill represents excess of the cost of acquisition over the Group’s share in the fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities. If the excess is negative, a bargain purchase gain is recognized immediately in profit or loss. Subsequent to initial recognition, goodwill is measured at cost less accumulated impairment losses. ii) Technology related development costs incurred by the Group are measured at cost less accumulated amortization and accumulated impairment losses. Cost includes expenses incurred during the development stage. The costs related to planning and post implementation phases of development are expensed as incurred. Expenditure on research activities are recognized in profit or loss as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use or sell the asset. The expenditure capitalized include the cost of materials, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use, and capitalized borrowing cost. Incidental operations are not necessary to bring an asset to the condition necessary for it to be capable of operating in the manner intended by management, the income and related expenses of incidental operations are recognized immediately in profit or loss, and included in their respective classifications of income and expense. iii) Other Intangible Assets Other intangible assets comprise software that are acquired by the Group and intangible assets including customer relationship, brand/trade mark, non-compete and favorable lease contract term acquired in a business combination. Software has finite useful lives and is measured at cost less accumulated amortization and accumulated impairment losses. Cost includes any directly attributable expenses necessary to make the assets ready for use. Intangible assets acquired in a business combination are measured at fair value as at the date of acquisition. Following initial recognition, these intangible assets are carried at cost less any accumulated amortization and impairment losses, if any. iv) Subsequent expenditure is capitalized only when it is probable that future economic benefits derived from the cost incurred will flow to the enterprise and the cost of the item can be reliably determined. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred. v) Amortization of assets, other than goodwill, is calculated over the cost of the assets, or other amount substituted for cost, less its residual value. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. The estimated useful lives are as follows: • Technology related development costs 2 - 5 years • Software 3 - 5 years • Customer – related intangible assets (Customer Relationship) 7-10 years • Contract – related intangible assets (Non-Compete) 5-6 years • Marketing – related intangible assets (Brand / Trade Mark) 7-10 years • Favorable lease contract term – related intangible assets 7 years Amortization methods, useful lives and residual values are reviewed at each financial year-end and adjusted as appropriate. |
Assets Held for Sale | (g) Assets Held for Sale Non-current assets that are expected to be recovered primarily through sale rather than continuing use are classified as held for sale. Immediately before classification as held for sale, the assets are remeasured in accordance with the Group’s accounting policies. Thereafter generally the assets are remeasured at the lower of their carrying amount and fair value less costs to sell. Impairment losses on initial classification as held for sale and subsequent gains and losses on remeasurement are recognized in profit or loss. Gains are not recognized in excess of any cumulative impairment loss. Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortized or depreciated. |
Inventories | (h) Inventories Inventories are measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated selling expenses. |
Impairment | (i) Impairment i) Financial assets (Including Receivables) A financial asset not carried at fair value through profit or loss, including an interest in equity accounted investee, is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Group on terms that the Group would not otherwise consider, indications that a debtor or issuer will enter bankruptcy, the disappearance of an active market for a security. The Group considers evidence of impairment for receivables for each specific asset. All individually significant receivables are assessed for specific impairment. An impairment loss in respect of a financial asset measured at amortized cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate. Losses are recognized in profit or loss and reflected in an allowance account against receivables. Interest on the impaired asset continues to be recognized through the unwinding of the discount. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss. Impairment losses on available-for-sale financial assets are recognized by reclassifying the losses accumulated in the fair value reserve in equity to profit or loss. The cumulative loss that is reclassified from equity to profit or loss is the difference between the acquisition cost, net of any principal repayment and amortization, and the current fair value, less any impairment loss recognized previously in profit or loss. Changes in cumulative impairment losses attributable to application of the effective interest method are reflected as a component of interest income. If, in a subsequent period, the fair value of an impaired available-for-sale debt security increases and the increase can be related objectively to an event occurring after the impairment loss was recognized, then the impairment loss is reversed, with the amount of the reversal recognized in profit or loss. However, any subsequent recovery in the fair value of an impaired available-for-sale equity security is recognized in other comprehensive income. An impairment loss in respect of an equity-accounted is measured by comparing the recoverable amount of the investment with its carrying amount. An impairment loss is recognised in profit or loss, and is reversed if there has been a favorable change in estimates used to determine the recoverable amount. ii) Non-Financial Assets The carrying amounts of the Group’s non-financial assets, primarily property, plant and equipment, technology related development cost, software and other intangible assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill is tested annually for impairment. An impairment loss is recognized if the carrying amount of an asset or cash generating unit (CGU) exceeds its recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assumptions of the time value of money and the risks specific to the asset or CGU. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to an operating segment ceiling test, CGUs to which goodwill has been allocated are aggregated to that level at which impairment testing is performed which reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to the group of CGUs that are expected to benefit from the synergies of the combination. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis. An impairment loss in respect of goodwill is not reversed. For other assets an impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. |
Employee Benefits | (j) Employee Benefits i) Defined Contribution Plans Obligations for contributions to defined contribution plans are recognized as personnel expense in profit or loss in the periods during which services are rendered by employees. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. ii) Defined Benefit Plans A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Group’s gratuity scheme is a defined benefit plan. The Group’s net obligation in respect of defined benefit plans is calculated separately for each plan by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets. The calculation of defined benefit obligations is performed half yearly by a qualified actuary using the projected unit credit method. When the calculation results in a potential asset for the Group, the recognised asset is limited to the present value of economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan. To calculate the present value of economic benefits, consideration is given to any applicable minimum funding requirements. Remeasurements of the net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognised immediately in other comprehensive income (loss). The Group determines the net interest expense (income) on the net defined benefit liability (asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the year to the then-net defined benefit liability (asset), taking into account any changes in the net defined benefit liability (asset) during the period as a result of contributions and benefit payments. Net interest expense and other expenses related to defined benefit plans are recognised in profit or loss. When the benefits of a plan are changed or when a plan is curtailed, the resulting change in benefit that relates to past service or the gain or loss on curtailment is recognised immediately in profit or loss. The Group recognises gains and losses on the settlement of a defined benefit plan when the settlement occurs. The discount rate is based on the prevailing market yields of Indian government securities as at the reporting date that have maturity dates approximating the terms of the Group’s obligations and that are denominated in the same currency in which the benefits are expected to be paid. iii) Other Long-term Employee Benefits Benefits under the Group’s compensated absences policy constitute other long term employee benefits. The Group’s net obligation in respect of long-term employee benefits is the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value, and the fair value of any related assets is deducted. The discount rate is based on the prevailing market yields of Indian government securities as at the reporting date that have maturity dates approximating the terms of the Group’s obligations and that are denominated in the same currency in which benefits are expected to be paid. The calculation is performed using the projected unit credit method. Any actuarial gains or losses are recognized in profit or loss in the period in which they arise. iv) Short-term Employee Benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably. v) Share Based Payment The grant date fair value of share-based payment awards granted to employees is recognized as personnel expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service conditions are expected to be met, such that the amount ultimately recognized as an expense is based on the number of awards that do meet the related service conditions at the vesting date. The increase in equity recognized in connection with a share based payment transaction is presented in the share based payment reserve, as a separate component in equity. vi) Termination benefits Termination benefits are expensed at the earlier of when the Group can no longer withdraw the offer of those benefits/when the Group recognises costs for a restructuring. If benefits are not expected to be settled wholly within 12 months of the reporting date, then they are discounted. |
Provisions and Contingent Liabilities | (k) Provisions and Contingent Liabilities A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably, 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 assumptions of the time value of money and the risks specific to the liability. The unwinding of discount is recognized as finance cost. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at reporting date, taking into account the risks and uncertainties surrounding the obligation. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. A provision for onerous contract 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. Contingent liabilities are possible obligations that arise from past events and whose existence will only be confirmed by the occurrence or non-occurrence of one or more future events not wholly within the control of the Group. Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. |
Revenue | (l) Revenue The Group provides travel products and services to leisure and corporate travelers in India and abroad. The revenue from rendering these services is recognized in the profit or loss at the time when significant risk and rewards are transferred to the customer. This is generally the case: 1) on the date of departure for tours and packages, 2) date of check in for hotel booking business, 3) on the issuance of the ticket in the case of sale of airline tickets and 4) date of journey in case of sale of bus tickets. The Group considers both travelers and travel suppliers to be its customers. Income from the sale of airline tickets is recognized as an agent on a net commission earned basis, as the Group does not assume any performance obligation post the confirmation of the issuance of an airline ticket to the customer. Where the Group has procured in advance coupons of airline tickets for an anticipated future demand from customers and assumes the risk of not utilising the coupons at its disposal, income from the sale of such airline tickets is accounted on gross basis. Incentives from airlines are recognized when the performance obligations under the incentive schemes are achieved. Income from hotel reservations including commission earned is recognized on a net basis as an agent on the date of check-in as the Group does not assume any performance obligation post the issuance of hotel confirmation voucher to the customer. Where the Group has pre-booked the hotel room nights for an anticipated future demand from the customers and assumes the risk of not utilising the available hotel room nights at its disposal, income from the sale of such hotel room nights is accounted on gross basis. Performance linked incentives from hotels are recognized as income on achievement of performance obligations. Income from tours and packages, including income on airline tickets sold to customers as a part of tours and packages is accounted on gross basis as the Group is determined to be the primary obligor in the arrangement i.e., the risks and responsibilities are taken by the Group including the responsibility for delivery of services. Income from tours and packages also includes amounts received from hotel suppliers against online promotions of hotels brands on our website. Income from bus ticketing, including commissions and fees earned from bus operators and convenience fees from customers is recognized on a net basis as an agent on the date of journey as the Group does not assume any performance obligation post the confirmation of the issuance of the ticket to the customer. Income from other sources, primarily comprising advertising revenue, income from rail tickets reservation and fees for facilitating website access to a travel insurance company is being recognized as the services are being performed. Income from rail tickets reservation is recognized as an agent on a net commission earned basis, as the Group does not assume any performance obligation post the confirmation of the issuance of the ticket to the customer. Revenue is recognized net of cancellations, refunds, discounts and taxes. In the event of cancellation of airline tickets, revenue recognized in respect of commissions earned by the company on such tickets is reversed and is netted off from the revenue earned during the fiscal period at the time the cancellation is made by the customers. In addition, a liability is recognized in respect of the refund due to the customers for the gross amount charged to such customers net of cancellation fees. The revenue from the sale of tours and packages and hotel reservations is recognized on the customer’s departure and check-in dates, respectively. Cancellations, if any, do not impact revenue recognition since revenue is recognized upon the availment of services by the customer. The Company provides loyalty programs under which participating customers earn loyalty points on current transactions that can be redeemed for future qualifying transactions. Revenue is allocated between the loyalty programme and the other components of the sale when such loyalty programs are offered as concessional offers. The amount allocated to such loyalty programme is deferred, and is recognized as revenue when the Group fulfills its obligations to supply the discounted products/services under the terms of the programme or when it is no longer probable that the points under the programme will be redeemed. Further, when loyalty programmes are run as part of the Group’s customer inducement / acquisition activities with the intent of acquiring customers and promoting transactions across various booking platforms, the related cost for providing discounted products/services is recognized as marketing and sales promotion expense instead of as deferral of revenue. |
Marketing and Sales Promotion Costs | (m) Marketing and Sales Promotion Costs Marketing and sales promotion costs comprise of internet, television, radio and print media advertisement costs as well as event driven promotion cost for Group’s products and services. These costs include advertising on websites, television, print formats, search engine marketing, and any other media cost. Additionally, the Group also incurs customer inducement/acquisition costs for acquiring customers and promoting transactions across various booking platforms such as upfront cash incentives and select loyalty programs cost, which when incurred are recorded as marketing and sales promotion costs instead of as a reduction / deferral of revenue. Marketing and sales promotion costs are recognized when incurred. |
Leasing Arrangements | (n) Leasing Arrangements Accounting for Finance Leases On initial recognition, assets held under finance leases are recorded as property, plant and equipment and the related liability is recognized under borrowings. At inception of the lease, finance leases are recorded at amounts equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments. Minimum lease payments under finance leases are apportioned between finance expense and reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Accounting for Operating Leases Payments made under operating leases are recognized as an expense on a straight-line basis over the lease term. Lease incentives received are recognized as a reduction of the lease expense, over the term of the lease. |
Finance Income and Costs | (o) Finance Income and Costs Finance income comprises interest income on funds invested, change in financial liability and net gain on change in fair value of derivatives. Interest income is recognized as it accrues in profit or loss, using the effective interest method. Finance costs comprise interest expense on borrowings, change in financial liability, net loss on change in fair value of derivatives, impairment losses recognized on financial assets, including trade and other receivables, cost related to public offerings and cost related to convertible notes. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in profit or loss using the effective interest method. Foreign currency gains and losses are reported on a net basis. |
Income Taxes | (p) Income Taxes Income tax expense comprises current and deferred taxes. Current and deferred tax expense is recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or other comprehensive income, in which case it is recognized in equity or in other comprehensive income (loss). Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries, associates to the extent that it is probable that they will not reverse in the foreseeable future. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. A deferred tax asset is recognized for unused tax losses and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. 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. Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it has become probable that future taxable profits will be available against which they can be used. In determining the amount of current and deferred tax, the Group takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. This assessment relies on estimates and assumptions and may involve a series of judgements about future events. New information may become available that causes the Company to change its judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact tax expense in the period that such a determination is made. |
Earnings (Loss) Per Share | (q) Earnings (Loss) Per Share The Group presents basic and diluted earnings (loss) per share (EPS) data for its ordinary shares (including Class B shares). Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders (including Class B shareholders) of the Company by the weighted average number of ordinary shares (including Class B shares) outstanding during the period. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders (including Class B shareholders) and the weighted average number of ordinary shares (including Class B shares) outstanding after adjusting for the effects of all potential dilutive ordinary shares (including Class B shares). |
Government grants | (r) Government grants Government grants are recognized when there is reasonable assurance that the conditions attached to the grants are complied with and the grants will be received. Grants awarded for the purchase of fixed assets or development of technology assets are offset against the acquisition or development costs of the respective assets and reduce future depreciation and amortization cost accordingly. Grant awarded for research phase of technology assets are offset against the underlying expenses incurred. |
Operating Segment | (s) Operating Segment In accordance with IFRS 8 – Operating Segments, the operating segments used to present segment information are identified on the basis of internal reports used by the Group’s management to allocate resources to the segments and assess their performance. An operating segment is a component of the Group that engages in business activities from which it earns revenues and incurs expenses, including revenues and expenses that relate to transactions with any of the Group’s other components. Results of the operating segments are reviewed regularly by the leadership team, which has been identified as the chief operating decision maker (CODM), to make decisions about resources to be allocated to the segment and assess its performance and for which discrete financial information is available. The Group has two reportable segments, i.e. air ticketing and hotels and packages. In addition, the Group has made relevant entity-wide disclosures (Refer to Note 6). Segment results that are reported to the CODM include items directly attributable to a segment. Revenue directly attributable to the segments is considered segment revenue. Income from tours and packages is measured on a gross basis and any commission earned on hotel reservations booked is being recognized on a net basis as an agent on the date of check in except where the Group has pre-booked the hotel room nights for an anticipated future demand from the customers and assumes the risk of not utilising the available hotel room nights at its disposal, income from the sale of such hotel room nights is accounted on gross basis.Segment revenue of air ticketing segment is measured on a net basis except where the Group has procured in advance coupons of airline tickets for an anticipated future demand from customers and assumes the risk of not utilising the coupons at its disposal, income from the sale of such airline tickets is accounted on gross basis. Service cost includes cost of airline tickets, amounts paid to hotels and other service providers and other cost of providing services. Operating expenses other than service cost have not been allocated to the operating segments and are treated as unallocated/ common expenses. For the purposes of the CODM review, the measure of segment revenue as reduced by service cost and expense in nature of promotions recorded as a reduction of revenue is a key operating metric, which is sufficient to assess performance and make resource allocation decisions. Segment capital expenditure does not include cost incurred during the period to acquire property, plant and equipment, goodwill and intangible assets as they cannot be allocated to segments and is not reviewed by the CODM. Segment assets do not include property, plant and equipment, goodwill, intangible assets, trade and other receivables, term deposits, tax assets, corporate assets, other current assets and other non-current assets as they cannot be allocated to segments and are not reviewed by the CODM. Segment liabilities do not include trade and other payables, employee benefits, accrued expenses, deferred revenue, loans and borrowings and other liabilities as they cannot be allocated to segments and are not reviewed by the CODM. |
New Accounting Standards and Interpretations Not Yet Adopted | (t) New Accounting Standards and Interpretations Not Yet Adopted IFRS 9 Financial Instruments: IFRS 9 is effective for annual periods beginning on or after January 1, 2018, with early application permitted and is applied retrospectively, except for the hedge accounting requirements which are applied prospectively. The Company does not expect the standard to materially impact the measurement of either its financial liabilities or its financial assets. However, certain assets which are carried at fair value through other comprehensive income under IAS 39 will now be fair valued through profit and loss under IFRS 9. Further, the Company will make the irrevocable election upon adoption of IFRS 9 to classify available-for-sale equity instruments at fair value through other comprehensive income, as a result of which unrealized gains and losses which the Company currently recognizes in the consolidated statement of other comprehensive income will not be any longer recycled to the consolidated statement of profit or loss upon disposal. Under IFRS 9, the impairment of financial assets is measured under the ‘Expected Credit Loss’ (ECL) model, which uses a dual measurement approach, under which the loss allowance is measured as either twelve month expected credit losses or lifetime expected credit losses. The change in the impairment model will not have a material impact on the financial statements. Changes in accounting policies resulting from IFRS 9 will be applied retrospectively as at April 1, 2018, but with no restatement of comparative information for prior years. IFRS 15 Revenue from Contracts with Customers: IFRS 15 is effective for annual periods beginning on or after January 1, 2018. 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 Company has undertaken the review of the new standard and has concluded that application of the new standard will not have a material impact on the consolidated results or financial position, except for reclassification effects within the consolidated statement of profit or loss and other comprehensive income (loss) identified below: Certain customer inducement/acquisition costs for acquiring customers and promoting transactions across various booking platforms such as upfront cash incentives and select loyalty programs cost, which when incurred are recorded as marketing and sales promotion costs will now be recorded as a reduction of revenue. Due to changing competitive dynamics and seasonality in the business, the Company cannot reasonably estimate the financial statements reclassification impact of this change post the adoption. We will adopt the standard using the cumulative effect method, with the effect of initially applying this standard recognized at the date of initial application (i.e. April 1, 2018). As a result, we will not apply the requirements of IFRS 15 to the comparative periods presented. 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 recognise 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 profit or loss and other comprehensive income (loss). The Standard also contains enhanced disclosure requirements for lessees. The effective date for adoption of IFRS 16 is annual periods beginning on or after January1, 2019, though early adoption is permitted for companies applying IFRS 15 Revenue from Contracts with Customers. The Company is in the process of assessing the impact of IFRS 16 on the consolidated results of operations, cash flows, financial position and disclosures. IFRIC 23, Uncertainty over Income Tax Treatments: In June 2017, the International Accounting Standards Board issued IFRIC 23, Uncertainty over Income Tax Treatments. IFRIC 23 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 IFRC 23 is annual periods beginning on or after January 1, 2019, though early adoption is permitted. The Company is in the process of assessing the impact of IFRIC 23 on the consolidated financial statements. |
Significant Accounting Polici50
Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Summary of Estimated Useful Lives of Assets on Depreciation Calculated | Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful lives for each component of property, plant and equipment since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. Leased assets are depreciated over the shorter of the lease term and their useful lives. The estimated useful lives of assets are as follows: • Computers 3-6 years • Furniture and fixtures 5-6 years • Office equipments 1-5 years • Motor vehicles 3-7 years • Diesel generator sets 7 years • Building 20 years |
Summary of Estimated Useful Lives of Assets on Amortization of Assets Other than Goodwill Calculated | Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use, since this most closely reflects the expected pattern of consumption of the future economic benefits embodied in the asset. The estimated useful lives are as follows: • Technology related development costs 2 - 5 years • Software 3 - 5 years • Customer – related intangible assets (Customer Relationship) 7-10 years • Contract – related intangible assets (Non-Compete) 5-6 years • Marketing – related intangible assets (Brand / Trade Mark) 7-10 years • Favorable lease contract term – related intangible assets 7 years |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Summary of Reportable Segments | Information about reportable segments: For the year ended March 31 Reportable segments Air ticketing Hotels and packages Total reportable segments All other segments Total Particulars 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 Revenues 78,172 118,514 202,064 251,713 314,254 483,031 329,885 432,768 685,095 6,169 14,848 67,902 336,054 447,616 752,997 Total segment revenue 78,172 118,514 202,064 251,713 314,254 483,031 329,885 432,768 685,095 6,169 14,848 67,902 336,054 447,616 752,997 Service cost 1,770 — — 165,264 173,919 169,347 167,034 173,919 169,347 — — 6,530 167,034 173,919 175,877 Segment Revenue less Service Cost 76,402 118,514 202,064 86,449 140,335 313,684 162,851 258,849 515,748 6,169 14,848 61,372 169,020 273,697 577,120 Other income 1,014 363 435 Personnel expenses (49,018) (73,736) (114,157) Marketing and sales promotion expenses (108,966) (224,424) (529,559) Other operating expenses (67,954) (81,585) (120,566) Depreciation, amortization and impairment (10,923) (29,702) (32,712) Finance income 1,586 45,268 5,189 Finance costs (20,327) (18,289) (3,901) Impairment in respect of an equity - accounted investee (959) — — Share of loss of equity-accounted investees (1,860) (1,702) (1,998) Loss before tax (88,387) (110,110) (220,149) Assets and liabilities are used interchangeably between segments and these have not been allocated to the reportable segments. Reconciliation of information on Reportable Segments to IFRS measures: For the year ended March 31 Reportable segments Air ticketing Hotels and packages Total reportable segments All other segments Total Particulars 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 2016 2017 2018 Revenues 78,172 118,514 202,064 251,713 314,254 483,031 329,885 432,768 685,095 6,169 14,848 67,902 336,054 447,616 752,997 Less: Promotion expenses recorded as a reduction of revenue* — — (34,673) — — (43,068) — — (77,741) — — — — — (77,741) Consolidated Revenue 78,172 118,514 167,391 251,713 314,254 439,963 329,885 432,768 607,354 6,169 14,848 67,902 336,054 447,616 675,256 Marketing and sales promotion expenses (108,966) (224,424) (529,559) Less: Promotion expenses recorded as a reduction of revenue* — — 77,741 Consolidated marketing and sales promotion expenses (108,966) (224,424) (451,818) Notes: * For purposes of reporting to the CODM, |
Summary of Geographical Segments | In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers. Segment assets are based on the geographical location of the assets. Revenue Non-Current Assets* For the Year Ended March 31 As at March 31 Particulars 2016 2017 2018 2017 2018 India 295,794 415,555 647,077 1,211,999 1,195,212 United States 6,504 2,382 113 23 14 South East Asia 10,132 11,115 10,888 7,719 4,838 Europe 12,698 9,184 6,972 — — Others 10,926 9,380 10,206 184 226 Total 336,054 447,616 675,256 1,219,925 1,200,290 * Non-current assets presented above represent property, plant and equipment, intangible assets and goodwill, non-current tax assets, and other non-current assets (excluding financial assets). |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Business Combinations [Abstract] | |
Summary of the Acquisition Date Fair Value of Each Class of Consideration Transferred | The following table summarises the acquisition date fair value of each class of consideration transferred: Equity instruments issued to Parent (38,971,539 Class B shares) 1,178,792 Equity instruments issued to Parent (Option to exercise and acquire 413,035 ordinary shares) 3,741 Working capital infusion by the Parent (83,260 ) Replacement share-based payment awards 15,008 Total Consideration transferred 1,114,281 |
Summary of Purchase Price allocation | The purchase price was allocated based on management’s estimates and an independent appraisal of fair values as follows: Property, plant and equipment 1,189 Intangible assets 153,860 Other non-current assets 20,499 Current assets and liabilities, net (including cash and cash equivalents of USD 19,988) (12,309 ) Employee benefits (605 ) Equity stake in an associate 2,060 Total identifiable net assets assumed 164,694 Non-controlling interest (617 ) Goodwill 950,204 Total purchase price 1,114,281 |
Investment in Equity-Accounte53
Investment in Equity-Accounted Investees (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Equity Method Investments [Abstract] | |
Summary of Financial Information for Individually Immaterial Associates | The Group has interests in a number of individually immaterial associates. The following table analyses, in aggregate the carrying amount and share of loss of these associates. As at March 31 Particulars 2017 2018 Carrying amount of interests in associates 18,212 16,316 For the year ended March 31 Particulars 2016 2017 2018 Company's share of loss in associates (1,860 ) (1,702 ) (1,998 ) |
Other Investments (Tables)
Other Investments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Investments [Abstract] | |
Schedule of Investment | As at March 31 Particulars 2017 2018 Investment in equity and other securities 5,791 6,170 Total 5,791 6,170 |
Other Revenue (Tables)
Other Revenue (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Revenue [Abstract] | |
Schedule of Other Revenue | For the year ended March 31 Particulars 2016 2017 2018 Commission on bus and rail reservation 946 5,823 51,435 Advertising revenue 953 1,326 981 Facilitation fee 3,516 6,956 14,588 Miscellaneous 754 743 898 Total 6,169 14,848 67,902 |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Income [Abstract] | |
Summary of Other Income | For the year ended March 31 Particulars 2016 2017 2018 Claim received from vendor 24 — — Excess provision written back — 93 96 Income on license acquired 886 — — Others 104 270 339 Total 1,014 363 435 |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Personal Expenses [Abstract] | |
Summary of Personnel Expense | For the year ended March 31 Particulars 2016 2017 2018 Wages, salaries and other employees benefits 31,001 42,073 62,303 Contributions to defined contribution plans 2,017 2,204 3,055 Expenses related to defined benefit plans 253 363 868 Equity-settled share based payment 13,685 26,795 44,716 Employee welfare expenses 2,062 2,301 3,215 Total 49,018 73,736 114,157 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Operating Expense [Abstract] | |
Summary of Other Operating Expenses | For the year ended March 31 Particulars 2016 2017 2018 Payment gateway and other charges 25,019 27,269 50,597 Outsourcing expenses 16,055 16,920 26,158 Travelling and conveyance 3,069 3,537 3,105 Communication 3,600 4,385 5,288 Repairs and maintenance 3,322 4,322 5,300 Rent 2,949 3,831 7,701 Legal and professional* 3,707 11,395 7,894 Website hosting charges 2,243 2,428 6,771 Net loss on disposal of property, plant and equipment 380 46 70 Intangible assets written off — — 356 Miscellaneous expenses 7,610 7,452 7,326 Total 67,954 81,585 120,566 Notes: * Includes USD 144 towards cost related to share based payment for the year ended March 31, 2018. |
Depreciation, Amortization an59
Depreciation, Amortization and Impairment (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Depreciation Amortisation And Impairment Expense [Abstract] | |
Schedule of Depreciation, Amortization and Impairment | For the year ended March 31 Particulars 2016 2017 2018 Depreciation 2,724 5,149 4,357 Amortization 6,032 9,386 25,481 Impairment 2,167 15,167 2,874 Total 10,923 29,702 32,712 |
Finance Income and Costs (Table
Finance Income and Costs (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Finance Income Expense [Abstract] | |
Summary of Finance Income and Costs | For the year ended March 31 Particulars 2016 2017 2018 Recognized in profit or loss Interest income on term deposits 1,477 2,208 4,503 Other interest income 109 633 686 Net gain on change in fair value of derivative financial instrument — 42,427 — Finance income 1,586 45,268 5,189 Interest expense on financial liabilities measured at amortised cost 3,838 8,574 422 Change in financial liability 496 2 — Cost related to convertible notes 775 — — Net foreign exchange loss 4,501 1,669 2,386 Impairment loss on trade and other receivables 984 1,771 604 Net loss on change in fair value of derivative financial instrument 9,017 — — Finance and other charges 716 6,273 489 Finance costs 20,327 18,289 3,901 Net finance income (costs) recognized in profit or loss (18,741 ) 26,979 1,288 |
Income Tax Benefit (Expense) (T
Income Tax Benefit (Expense) (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Income Tax [Abstract] | |
Disclosure of Income Tax Expense Explanatory | Income tax recognised in profit or loss For the year ended March 31 Particulars 2016 2017 2018 Current tax expense Current period (178 ) (237 ) (135 ) Current tax expense (178 ) (237 ) (135 ) Deferred tax benefit (expense) Origination and reversal of temporary differences 4,343 1,928 (1,231 ) Change in unrecognized deductible temporary differences (4,335 ) (1,908 ) 620 Utilization of previously unrecognised tax losses 15 24 655 Deferred tax benefit (expense) 23 44 44 Total (155 ) (193 ) (91 ) |
Disclosure of Income Taxes Recognized In Other Comprehensive Income (loss) Explanatory | Income Tax Recognized in Other Comprehensive Income (loss) For the year ended March 31 2016 2017 2018 Particulars Before tax Tax (expense) benefit Net of tax Before tax Tax (expense) benefit Net of tax Before tax Tax (expense) benefit Net of tax Foreign currency translation differences on foreign operations (565 ) — (565 ) 48,618 — 48,618 (1,915 ) — (1,915 ) Net change in fair value of available-for-sale financial assets 752 — 752 (809 ) — (809 ) 2,280 — 2,280 Remeasurement of defined benefit (asset) liability (149 ) — (149 ) (266 ) — (266 ) (422 ) — (422 ) Total 38 — 38 47,543 — 47,543 (57 ) — (57 ) |
Disclosure of Reconciliation Of Effective Tax Rate Explanatory | Reconciliation of Effective Tax Rate For the Year Ended March 31 Particulars 2016 2017 2018 Loss for the year (88,542 ) (110,303 ) (220,240 ) Income tax expense (155 ) (193 ) (91 ) Loss before tax (88,387 ) (110,110 ) (220,149 ) Income tax benefit using the Company's domestic tax rate 15.00 % 13,261 15.00 % 16,517 15.00 % 33,020 Effect of tax rates in foreign jurisdictions 9.81 % 8,671 13.60 % 14,978 13.90 % 30,611 Non deductible expenses 2.84 % (2,508 ) 3.64 % (4,005 ) 0.81 % (1,781 ) Tax exempt income 0.08 % 74 5.99 % 6,593 0.28 % 622 Utilization of previously unrecognised tax losses 0.02 % 15 0.02 % 24 0.30 % 655 Current year losses for which no deferred tax asset was recognized 17.35 % (15,334 ) 29.37 % (32,340 ) 29.00 % (63,833 ) Change in unrecognised temporary differences 4.90 % (4,335 ) 1.73 % (1,908 ) 0.28 % 620 Others 0.00 % 1 0.05 % (52 ) 0.00 % (5 ) (155 ) (193 ) (91 ) |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Property Plant and Equipment | Particulars Land Building Computers Furniture and Office Equipment Motor Vehicles Leasehold Improvements Diesel Generator Capital Work- in-Progress Total Cost Balance as at April 1, 2016 794 478 10,691 210 1,297 1,100 4,652 9 14 19,245 Acquisitions through business combinations — — 880 126 105 59 19 — — 1,189 Additions — — 3,026 283 600 382 2,071 — 2,701 9,063 Disposals* — — (1,381 ) (51 ) (232 ) (88 ) (3,809 ) — — (5,561 ) Effect of movements in foreign exchange rates 18 11 323 12 40 36 29 — 74 543 Balance as at March 31, 2017 812 489 13,539 580 1,810 1,489 2,962 9 2,789 24,479 Balance as at April 1, 2017 812 489 13,539 580 1,810 1,489 2,962 9 2,789 24,479 Additions — — 2,198 412 456 344 3,540 — (2,753 ) 4,197 Disposals** (845 ) (509 ) (341 ) (123 ) (367 ) (441 ) (113 ) — — (2,739 ) Effect of movements in foreign exchange rates 33 20 42 2 27 9 (17 ) — 14 130 Balance as at March 31, 2018 — — 15,438 871 1,926 1,401 6,372 9 50 26,067 Accumulated depreciation and impairment loss Balance as at April 1, 2016 — 142 5,593 102 848 446 1,824 5 — 8,960 Depreciation for the year — 40 2,187 54 263 241 2,363 1 — 5,149 Disposals* — — (1,365 ) (28 ) (224 ) (27 ) (3,483 ) — — (5,127 ) Effect of movements in foreign exchange rates — 4 136 2 14 14 (7 ) — — 163 Balance as at March 31, 2017 — 186 6,551 130 901 674 697 6 — 9,145 Balance as at April 1, 2017 — 186 6,551 130 901 674 697 6 — 9,145 Depreciation for the period — 10 2,773 184 361 302 727 — — 4,357 Disposals** — (203 ) (252 ) (35 ) (330 ) (241 ) (106 ) — — (1,167 ) Effect of movements in foreign exchange rates — 7 54 (22 ) (9 ) 6 6 — — 42 Balance as at March 31, 2018 — — 9,126 257 923 741 1,324 6 — 12,377 Carrying amounts As at April 1, 2016 794 336 5,098 108 449 654 2,828 4 14 10,285 As at March 31, 2017 812 303 6,988 450 909 815 2,265 3 2,789 15,334 As at April 1, 2017 812 303 6,988 450 909 815 2,265 3 2,789 15,334 As at March 31, 2018 — — 6,312 614 1,003 660 5,048 3 50 13,690 * includes assets reclassified to assets held for sale with cost of USD 3,733 and accumulated depreciation of USD 3,443. ** includes assets reclassified to assets held for sale with cost of USD 1,354 and accumulated depreciation of USD 203. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Intangible Assets And Goodwill [Abstract] | |
Summary of Intangible Assets and Goodwill | Particulars Goodwill Customer Relationship Non- Compete Brand / Trade Mark Technology Related Development Cost Software Favourable Lease Contract Term Capital Work- in-Progress Total Cost Balance as at April 1, 2016 13,338 1,334 466 10,777 20,049 6,120 — 4,210 56,294 Acquisitions through business combination 950,204 2,200 — 134,500 16,500 411 249 — 1,104,064 Additions/Adjustment* — — — — 6,001 330 — (89 ) 6,242 Effect of movements in foreign exchange rates 42,893 95 (6 ) 6,092 1,221 140 11 71 50,517 Balance as at March 31, 2017 1,006,435 3,629 460 151,369 43,771 7,001 260 4,192 1,217,117 Balance as at April 1, 2017 1,006,435 3,629 460 151,369 43,771 7,001 260 4,192 1,217,117 Additions/Adjustment* — — — — 8,028 318 — (542 ) 7,804 Disposals — — — — (392 ) (237 ) (260 ) — (889 ) Effect of movements in foreign exchange rates (2,081 ) 3 10 (302 ) (163 ) 10 — (3 ) (2,526 ) Balance as at March 31, 2018 1,004,354 3,632 470 151,067 51,244 7,092 - 3,647 1,221,506 Accumulated amortization and impairment loss Balance as at April 1, 2016 — 567 327 4,330 10,887 3,807 — 1,490 21,408 Amortization for the year — 214 51 3,475 4,734 906 6 — 9,386 Impairment for the year 9,625 — 70 4,885 16 — — 571 15,167 Effect of movements in foreign exchange rates — (1 ) (5 ) 53 244 100 — 38 429 Balance as at March 31, 2017 9,625 780 443 12,743 15,881 4,813 6 2,099 46,390 Balance as at April 1, 2017 9,625 780 443 12,743 15,881 4,813 6 2,099 46,390 Amortization for the year — 493 10 14,216 9,764 973 25 — 25,481 Impairment for the year** — — — — 2,373 — — 501 2,874 Disposals — — — — (358 ) (160 ) (31 ) — (549 ) Effect of movements in foreign exchange rates — 4 10 (102 ) (169 ) 17 — 33 (207 ) Balance as at March 31, 2018 9,625 1,277 463 26,857 27,491 5,643 — 2,633 73,989 Carrying amounts As at April 1, 2016 13,338 767 139 6,447 9,162 2,313 — 2,720 34,886 As at March 31, 2017 996,810 2,849 17 138,626 27,890 2,188 254 2,093 1,170,727 As at April 1, 2017 996,810 2,849 17 138,626 27,890 2,188 254 2,093 1,170,727 As at March 31, 2018 994,729 2,355 7 124,210 23,753 1,449 — 1,014 1,147,517 * Represents addition of USD 7,506 (March 31, 2017: USD 5,912) to capital work-in-progress, adjusted for amounts capitalized out of capital-work-in progress amounting to USD 8,028 (March 31, 2017: USD 6,001) ** In March 2018, the management of the Company decided to suspend operations in one of its Indian subsidiary, as it does not intend to continue operations in the future in that entity. The Group tested the technology related development cost of that entity for recoverability and recognised an impairment loss of USD 2,874 during the year ended March 31, 2018. |
Summary of Goodwill has been Allocated to Acquired Subsidiaries Level | Goodwill has been allocated as follows: As at March 31 Particulars 2017 2018 ibibo Group - Go ibibo 838,465 836,559 ibibo Group - redBus 154,718 154,390 Luxury Tours & Travel Pte Ltd 2,322 2,475 ITC Group 1,305 1,305 Total 996,810 994,729 |
Summary of Calculation of Cash flow Projections | The recoverable amount of the CGU was based on its value in use and was determined by discounting the future cash flows to be generated from the continuing use of the CGU. These calculations use cash flow projections over a period of five to seven years, based on next year financial budgets approved by management, with extrapolation for the remaining period, and an average of the range of assumptions as mentioned below. The key assumptions used for the calculations are as follows: As at March 31 Particulars 2017 2018 Discount rate (pre-tax) 15 - 24% 19 - 24% Discount rate (post-tax) 12 - 22% 15 - 20% Terminal value growth rate 3.5 - 4% 3.5 - 4% EBITDA margin (5-7 years) (20.7) - 28.4% (14.7) - 42.5% |
Tax Assets and Liabilities (Tab
Tax Assets and Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Tax Assets And Liabilities [Abstract] | |
Summary of Unrecognized Deferred Tax Assets | Deferred tax assets have not been recognized in respect of the following items: As at March 31 Particulars 2017 2018 Deductible temporary differences 25,261 27,816 Minimum alternate tax 746 744 Tax loss carry forwards 119,481 180,175 Total 145,488 208,735 |
Summary of Recognized Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities are attributable to the following: As at March 31 Assets Liabilities Net Particulars 2017 2018 2017 2018 2017 2018 Property, plant and equipment — — (75 ) (390 ) (75 ) (390 ) Intangible assets — — (37,674 ) (33,675 ) (37,674 ) (33,675 ) Tax loss carry forwards 37,590 33,950 — — 37,590 33,950 Deferred tax assets/(liabilities) before set off 37,590 33,950 (37,749 ) (34,065 ) (159 ) (115 ) Set off (37,590 ) (33,950 ) 37,590 33,950 — — Net deferred tax assets/(liabilities) — — (159 ) (115 ) (159 ) (115 ) |
Summary of Movement in Deferred Tax Assets/(Liabilities) | Movement in deferred tax assets/(liabilities) during the year Particulars Balance as at April 1, 2016 Acquired in business combination Recognised in profit or loss Recognised in other comprehensive income Effects of movement in foreign exchange rates Balance as at March 31, 2017 Recognised in profit or loss Recognised in other comprehensive income Effects of movement in foreign exchange rates Balance as at March 31, 2018 Property, plant and equipment (453 ) — 374 — 4 (75 ) (317 ) — 2 (390 ) Intangible assets (1,469 ) (34,301 ) (943 ) — (961 ) (37,674 ) 3,945 — 54 (33,675 ) Tax loss carry forwards 1,719 34,301 613 — 957 37,590 (3,584 ) — (56 ) 33,950 Total (203 ) — 44 — — (159 ) 44 — — (115 ) |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Trade And Other Receivables [Abstract] | |
Summary of Trade and Other Receivables | As at March 31 Particulars 2017 2018 Trade and other receivables, net 29,003 49,204 Due from employees 109 108 Security deposits, net 7,575 6,704 Interest accrued on term deposits 597 2,299 Total 37,284 58,315 Non-current 2,176 1,929 Current 35,108 56,386 Total 37,284 58,315 |
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 Equivalents | As at March 31 Particulars 2017 2018 Cash in hand 88 128 Funds in transit 22,348 33,123 Bank balances 59,262 74,239 Term deposits 20,006 80,157 Total 101,704 187,647 |
Term Deposits (Tables)
Term Deposits (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Term Deposit [Abstract] | |
Schedule of Term Deposits | As at March 31 Particulars 2017 2018 Term deposits 95,673 202,335 Total 95,673 202,335 Non-current 20,162 165 Current 75,511 202,170 Total 95,673 202,335 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Other Current Assets [Abstract] | |
Summary of Other Current Assets | As at March 31 Particulars 2017 2018 Advance to suppliers 46,029 70,196 Prepaid expenses 3,500 4,578 Prepaid lease rentals 268 313 Receivable from related party — 17,100 Other assets 435 355 Total 50,232 92,542 |
Assets Held For Sale (Tables)
Assets Held For Sale (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Assets Held For Sale [Abstract] | |
Summary of Assets Classified as Held for Sale | Assets classified as held for sale includes: As at March 31 Particulars 2017 2018 Property, plant and equipment 302 1,220 Total 302 1,220 |
Other Non-Current Assets (Table
Other Non-Current Assets (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Other Non Current Assets [Abstract] | |
Summary of Other Non-Current Assets | As at March 31 Particulars 2017 2018 Prepaid lease rentals 2,833 2,336 Indirect tax paid 11,410 11,385 Prepaid expenses 315 886 Receivable from related party 15,100 — Total 29,658 14,607 |
Capital and Reserves (Tables)
Capital and Reserves (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Schedule of Share Capital and Share Premium | A. Share Capital and Share Premium Ordinary Shares* Class B Shares* Particulars Number Share capital Share premium Number Share capital Share premium Balance as at April 1, 2016 41,706,428 21 248,732 — — — Own shares acquired (144,131 ) — — — — — Shares issued during the year on exercise of share based awards 873,834 1 18,275 — — — Reissue of own shares on conversion of convertible notes 659,939 — 999 — — — Issue of ordinary shares on conversion of convertible notes 9,197,089 5 148,101 — — — Issued in business combination 413,035 — 12,493 38,971,539 19 1,178,773 Balance as at March 31, 2017 52,706,194 27 428,600 38,971,539 19 1,178,773 Balance as at April 1, 2017 52,706,194 27 428,600 38,971,539 19 1,178,773 Shares issued during the period on exercise of share based awards 1,137,232 1 27,462 — — — Issue of ordinary shares in placement offer, net of issuance costs 5,500,000 3 195,514 3,666,667 2 130,342 Balance as at March 31, 2018 59,343,426 31 651,576 42,638,206 21 1,309,115 * Par value of USD 0.0005 per share |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Loss Per Share | The following is the reconciliation of the loss attributable to ordinary shareholders (including Class B shareholders) and weighted average number of ordinary shares (including Class B shares) used in the computation of basic and diluted loss per share for the year ended March 31, 2016, 2017 and 2018: For the year ended March 31 Particulars 2016 2017 2018 Loss attributable to ordinary shareholders (including Class B shareholders) (88,518 ) (110,168 ) (218,412 ) Weighted average number of ordinary shares (including Class B shares) outstanding used in computing basic loss per share 41,714,518 52,607,986 100,394,080 Weighted average number of ordinary shares (including Class B shares) outstanding used in computing dilutive loss per share 41,714,518 52,607,986 100,394,080 Loss per share (USD) Basic (2.12 ) (2.09 ) (2.18 ) Diluted (2.12 ) (2.09 ) (2.18 ) |
Loans and Borrowings (Tables)
Loans and Borrowings (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Loans And Borrowings [Abstract] | |
Summary of Interest Bearing Loans and Borrowings Measured at Amortized Cost/Fair Value | This note provides information about the contractual terms of Group’s interest bearing loans and borrowings, which are measured at amortized cost/fair value. For more information about the Group’s exposure to interest rate, foreign currency and liquidity risk, refer note 5 and 35. As at March 31 Particulars 2017 2018 Non-current liabilities Secured bank loans 523 424 Non-current portion of loans and borrowings 523 424 As at March 31 Particulars 2017 2018 Current liabilities Current portion of secured bank loans 226 228 Current portion of loans and borrowings 226 228 |
Summary of Fair Value of Liability Component and Derivative | Fair value of liability component and derivative as at inception: Particulars Fair value of liability component at inception 133,321 Fair value of derivative at inception 52,912 Proceeds from issue of convertible notes (180,000 ) Deferred difference 6,233 |
Summary of Carrying Amount of Liability Component | The carrying amount of the liability component is summarized below: Particulars Carrying amount of liability at the beginning of the year 134,770 Accretion of interest 8,210 Payment of interest (3,749 ) Conversion of notes during the year (139,231 ) Carrying amount of liability as at March 31, 2017 — |
Summary of Carrying Amount of Derivative | The carrying amount of derivative is summarized below: Particulars Carrying amount of derivative at the beginning of the year 61,929 Net gain on change in fair value of derivative (42,427 ) Conversion of notes during the year (19,502 ) Carrying amount of derivative as at March 31, 2017 — |
Schedule of Terms and Conditions of Outstanding Loans | Terms and conditions of outstanding loans are as follows: As at March 31, 2017 As at March 31, 2018 Particulars Currency Interest rate Year of maturity Original value Carrying amount Original value Carrying amount Secured bank loans INR 8% - 13% 2017 - 2024 1,080 749 1,079 652 |
Other Current Liabilities (Tabl
Other Current Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Miscellaneous Current Liabilities [Abstract] | |
Summary of Other Current Liabilities | As at March 31 Particulars 2017 2018 Statutory liabilities 4,037 11,442 Deferred rent liabilities 13 14 Employee related payables 5,514 5,596 Other liabilities 4 — Total 9,568 17,052 |
Other Non- current Liabilities
Other Non- current Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Other Non Current Liabilities [Abstract] | |
Schedule of Other Non-current Liabilities | As at March 31 Particulars 2017 2018 Deferred rent liabilities 1,027 1,617 Employee related payables — 584 Total 1,027 2,201 |
Deferred Revenue (Tables)
Deferred Revenue (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Deferred Income [Abstract] | |
Disclosure of Deferred Revenue | As at March 31 Particulars 2017 2018 Global Distribution System providers 1,809 91 Loyalty programme 1,032 937 Others 469 325 Total 3,310 1,353 Non-current 265 91 Current 3,045 1,262 Total 3,310 1,353 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Summary of Employee Benefits | As at March 31 Particulars 2017 2018 Net defined benefit asset 229 — Total employee benefit asset 229 — Net defined benefit liability 1,594 2,458 Other long term employee benefit (liability for compensated absences) 1,352 1,263 Total employee benefit liabilities 2,946 3,721 As at March 31 Particulars 2017 2018 Present Value of unfunded obligation 1,594 2,458 Total 1,594 2,458 |
Disclosure of Reconciliation From Opening Balances to Closing Balances For Net Defined (Asset) Liability and Its Components | The following table shows a reconciliation from the opening balances to the closing balances for the net defined (asset) liability and its components. Particulars Defined benefit obligation Fair value of plan assets Net defined benefit liability 2017 2018 2017 2018 2017 2018 Balance as at April 1 1,085 2,236 — (871 ) 1,085 1,365 Acquired through business combination 583 — (806 ) — (223 ) — Included in profit or loss Current service cost 284 546 — — 284 546 Past service cost — 236 — — — 236 Interest cost (income) 85 131 (6 ) (45 ) 79 86 369 913 (6 ) (45 ) 363 868 Included in other comprehensive income Remeasurement loss (gain) : -Actuarial loss (gain) arising from : -demographic assumptions (12 ) — — — (12 ) — -financial assumptions 16 (14 ) — — 16 (14 ) -experience adjustment 284 458 — — 284 458 -Return on plan assets excluding interest income — — (22 ) (22 ) (22 ) (22 ) 288 444 (22 ) (22 ) 266 422 Effects of movement in exchange rates 68 (13 ) (38 ) 1 30 (12 ) Other Benefits paid (157 ) (586 ) 1 401 (156 ) (185 ) Balance as at March 31 2,236 2,994 (871 ) (536 ) 1,365 2,458 As at March 31 Represented by: 2017 2018 Net defined benefit liability (MMT India) 1,594 2,004 Net defined benefit (asset)/liability (GI India) (229) 454 |
Disclosure of Plan Assets | Plan assets As at March 31 Particulars 2017 2018 Funds managed by the insurer 100 % 100 % |
Summary of Actuarial Assumptions | Actuarial assumptions As at March 31 Particulars 2017 2018 Discount rate (per annum) 6.70 % 7.10 % Future salary growth (per annum) 10.00%-11.00% 11.00 % Withdrawal rate 25.00 % 25.00 % Retirement age (years) 58-60 58-60 |
Summary of Sensitivity Analysis for Actuarial Assumptions | Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below: Particulars For the year ended March 31, 2017 For the year ended March 31, 2018 Increase Decrease Increase Decrease Discount rate (1% movement) (88 ) 95 (119 ) 129 Future salary growth (1% movement) 80 (77 ) 110 (106 ) Withdrawal rates (10% movement) (200 ) 302 (323 ) 511 |
Share Based Payment (Tables)
Share Based Payment (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Summary of Number and Weighted Average Exercise Price of Share Options | The number and weighted average exercise price of share options under MMT ESOP plan are as follows: Weighted Average Exercise Price per share (USD) Number of Options Weighted Average Exercise Price per share (USD) Number of Options Weighted Average Exercise Price per share (USD) Number of Options For the Year Ended March 31 Particulars 2016 2016 2017 2017 2018 2018 Outstanding at beginning of the year 1.47 382,439 1.45 379,939 1.14 333,121 Granted during the year — — — — — — Forfeited and expired during the year — — — — — — Exercised during the year 5.39 (2,500 ) 3.64 (46,818 ) 0.63 (71,711 ) Outstanding at the end of the year 1.45 379,939 1.14 333,121 1.28 261,410 Exercisable at the end of the year 1.45 379,939 1.14 333,121 1.28 261,410 |
Summary of Terms and Conditions Relating to Grants under Share Incentive Plan | The terms and conditions relating to the grants under Share Incentive Plan are given below: Grant details Number of instruments Vesting conditions Contractual life of RSUs RSUs granted during the year ended March 31, 2016 947,516 Refer notes 4 – 8 years RSUs granted during the year ended March 31, 2017 4,481,294 Refer notes 4 – 10 years RSUs granted during the year ended March 31, 2018 690,757 Refer notes 4 – 8 years |
Summary of Number and Weighted Average Exercise Price of RSUs Under Share Incentive plan | The number and weighted average exercise price of RSUs under the share incentive plan are as follows: Weighted Average Exercise Price per share (USD) Number of Awards Weighted Average Exercise Price per share (USD) Number of Awards Weighted Average Exercise Price per share (USD) Number of Awards For the Year Ended March 31 Particulars 2016 2016 2017 2017 2018 2018 Outstanding at beginning of the year 0.0005 2,330,743 0.0005 2,867,713 0.0005 6,367,186 Granted during the year 0.0005 947,516 0.0005 4,481,294 0.0005 690,757 Forfeited and expired during the year 0.0005 (177,775 ) 0.0005 (154,805 ) 0.0005 (559,023 ) Exercised during the year 0.0005 (232,771 ) 0.0005 (827,016 ) 0.0005 (1,065,521 ) Outstanding at the end of the year 0.0005 2,867,713 0.0005 6,367,186 0.0005 5,433,399 Exercisable at the end of the year 0.0005 1,138,321 0.0005 1,325,558 0.0005 1,313,158 |
Summary of Number and Weighted Average Exercise Price of Employee Stock Options under Bona Vita ESOP | The number and weighted average exercise price of Employee stock options under the Bona Vita ESOP Plan are as follows: Weighted Average Exercise Price per share (USD) Number of Awards Weighted Average Exercise Price per share (USD) Number of Awards For the Year Ended March 31 Particulars 2017 2017 2018 2018 Outstanding at beginning of the year — — 0.0154 21,711 Granted during the year 0.0154 25,032 0.0154 11,789 Forfeited and expired during the year 0.0154 (3,321 ) 0.0154 (11,545 ) Exercised during the year 0.0154 — — — Outstanding at the end of the year 0.0154 21,711 0.0154 21,955 Exercisable at the end of the year — — 0.0154 11,370 |
Summary of Measurement Used to Determine Fair Values of Bona Vita ESOP | Inputs for Measurement of Grant Date Fair Values of Bona Vita ESOP Plan For the Year Ended March 31 Fair value of ESOP and assumptions 2017 2018 Share price at grant date (USD) 14.68 14.64 - 29.19 Fair value at grant date (USD) 14.68 14.64 - 29.19 Exercise price (USD) 0.0154 0.0154 Expected volatility 41.67% -43.56% 41.67% - 43.56% Expected term 10 years 10 years Expected dividends — — Risk-free interest rate 7.55% - 7.72% 7.55% - 7.72% |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Trade And Other Payables [Abstract] | |
Summary of Trade and Other Payables | As at March 31 Particulars 2017 2018 Other trade payables 36,669 74,814 Accrued expenses 42,077 43,012 Advance from customers 42,453 63,604 Advance from vendor 364 — Total 121,563 181,430 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Summary of Maximum Exposure to Credit Risk | The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was: As at March 31 Particulars 2017 2018 Trade and other receivables 37,284 58,315 Other assets* 15,535 17,100 Term deposits 95,673 202,335 Cash and cash equivalents (except cash in hand) 101,616 187,519 Total 250,108 465,269 *Other assets mainly includes receivable from related party of USD 17,100 (March 31, 2017: USD 15,100) (refer note 23 and 25). The Group does not expect the related party to fail in meeting its obligations. The maximum exposure to credit risk is represented by the carrying amount of this financial asset. The maximum exposure to credit risk for trade and other receivables at the reporting date by geographic region was: As at March 31 Particulars 2017 2018 India 27,692 46,006 Thailand 3,994 5,475 Malaysia 803 609 Singapore 2,001 1,692 Netherlands 65 11 Others 2,729 4,522 Total 37,284 58,315 The maximum exposure to credit risk for trade and other receivables and term deposits at the reporting date by type of counterparty was: As at March 31 Particulars 2017 2018 Airlines 13,556 26,365 Retail customers 7,047 4,092 Corporate customers 6,983 18,231 Deposit with hotels and others 7,576 6,704 Term deposits with bank 95,673 202,335 Others 2,122 2,923 Total 132,957 260,650 |
Summary of Age of Trade and Other Receivables and Term Deposits | The age of trade and other receivables and term deposits at the reporting date was: As at March 31 2017 2018 Particulars Gross Impairment Gross Impairment Not past due 124,596 — 245,249 — Past due 0-30 days 4,287 — 5,161 — Past due 30-120 days 2,919 — 5,968 — More than 120 days 3,699 2,544 5,851 1,579 Total 135,501 2,544 262,229 1,579 |
Summary of Movement in Allowance for Doubtful Debts in Respect of Trade and Other Receivables | The movement in the allowance for doubtful debts in respect of trade and other receivables during the year was as follows: For the year ended March 31 Particulars 2017 2018 Balance at the beginning of the year 1,515 2,544 Acquisition through business combination 182 — Allowance for doubtful debts 973 150 Amounts written off against the allowance (145 ) (1,102 ) Effects of movement in exchange rate 19 (13 ) Balance at the end of the year 2,544 1,579 |
Summary of Contractual Maturities of Financial Liabilities, Including Estimated Interest Payments and Excluding Impact of Netting Agreements | The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements: As at March 31, 2017 Non-derivative financial liabilities Carrying amount Contractual cash flows* 6 months or less 6 - 12 months 1 - 2 years 2 - 5 years More than 5 years Secured bank loans 749 (890 ) (146 ) (142 ) (262 ) (337 ) (3 ) Trade and other payables 78,746 (78,746 ) (78,746 ) — — — — Other liabilities 5,518 (5,518 ) (5,518 ) — — — — Total 85,013 (85,154 ) (84,410 ) (142 ) (262 ) (337 ) (3 ) Notes: * Represents undiscounted cash flows of interest and principal As at March 31, 2018 Non-derivative financial liabilities Carrying amount Contractual cash flows* 6 months or less 6 - 12 months 1 - 2 years 2 - 5 years More than 5 years Secured bank loans 652 (756 ) (143 ) (136 ) (214 ) (254 ) (9 ) Trade and other payables 117,826 (117,826 ) (117,826 ) — — — — Other liabilities 6,180 (6,300 ) (5,116 ) (585 ) (599 ) — — Total 124,658 (124,882 ) (123,085 ) (721 ) (813 ) (254 ) (9 ) __________________ Notes: * Represents undiscounted cash flows of interest and principal |
Summary of Currency Risk | The Group’s exposure to foreign currency risk was based on the following amounts as at the reporting dates (in equivalent USD): Between USD and INR As at March 31 Particulars 2017 2018 Trade and other receivables 7,806 11,163 Trade and other payables (65,427 ) (99,176 ) Cash and cash equivalents 83 1,279 Net exposure (57,538 ) (86,734 ) Between EUR and USD As at March 31 Particulars 2017 2018 Trade and other receivables 416 — Trade and other payables (737 ) (485 ) Cash and cash equivalents 16 19 Net exposure (305 ) (466 ) The following significant exchange rates applied during the year: Average exchange rate per unit Reporting date rate per unit As at March 31 USD 2016-17 2017-18 2017 2018 INR 1 0.0149 0.0155 0.0154 0.0154 EUR 1 1.0975 1.1705 1.0682 1.2324 |
Sensitivity Analysis of Exchange Rate | This analysis is based on foreign currency exchange rate variances that the Group considered to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables remain constant. For the year ended March 31 Particulars 2017 2018 10% strengthening of USD against INR (5,480 ) (8,260 ) 10% strengthening of EUR against USD (29 ) (44 ) |
Summary of Interest-Bearing Financial instruments | At the reporting date the interest rate profile of the Group’s interest-bearing financial instruments was as follows: As at March 31 Particulars 2017 2018 Fixed rate instruments Financial assets Term deposits 95,673 202,335 Term deposits included in Cash and cash equivalents* 20,006 80,157 Financial liabilities Secured bank loans (749 ) (652 ) 114,930 281,840 * Total cash and cash equivalents: USD 187,647 (March 31, 2017 : USD 101,704) |
Summary of Fair Values of Financial Assets and Liabilities | The fair values of financial assets and liabilities, together with the carrying amounts shown in the statement of financial position, are as follows: As at March 31, 2017 As at March 31, 2018 Particulars Carrying amount Fair value Carrying amount Fair value Assets carried at fair value (Available for sale) Other investments 5,791 5,791 6,071 6,071 Receivable from related party 15,100 15,100 17,100 17,100 20,891 20,891 23,171 23,171 Assets carried at amortised cost (Loans and receivables) Trade and other receivables 37,284 37,284 58,315 58,315 Term deposits 95,673 95,673 202,335 202,335 Cash and cash equivalents 101,704 101,704 187,647 187,647 Other assets 435 435 — — (Held-to-maturity) Other investments — — 99 99 235,096 235,096 448,396 448,396 Liabilities carried at amortized cost (Other financial liabilities) Secured bank loans 749 749 652 652 Trade and other payables 78,746 78,746 117,826 117,826 Employee related payables 5,514 5,514 6,180 6,180 Other liabilities 4 4 — — 85,013 85,013 124,658 124,658 |
Summary of Financial Instruments Carried at Fair Value | As at March 31, 2018 Particulars Level 1 Level 2 Level 3 Total Other investments — — 6,071 6,071 Receivable from related party — — 17,100 17,100 Total Assets — — 23,171 23,171 As at March 31, 2017 Particulars Level 1 Level 2 Level 3 Total Other investments — — 5,791 5,791 Receivable from related party — — 15,100 15,100 Total Assets — — 20,891 20,891 |
Summary of Reconciliation Fair Value Measurements in Level 3 of Fair Value Hierarchy | The following tables shows a reconciliation from the beginning balances to the ending balances for fair value measurement in Level 3 of the fair value hierarchy: As at March 31, 2018 Particulars Other investments Receivable from related party Opening balances 5,791 15,100 Total gains and losses recognized in: —other comprehensive income 280 2,000 Closing balances 6,071 17,100 As at March 31, 2017 Particulars Other investments Separable embedded derivative Receivable from related party Opening balances 6,690 61,929 — Acquired through business combination — — 15,010 Total gains and losses recognized in: —(profit) or loss — (42,427 ) — —other comprehensive income (loss) (899 ) — 90 Conversion of notes into ordinary shares — (19,502 ) — during the year (refer note 28) Closing balances 5,791 — 15,100 |
Summary of Financial Instruments Measured at Fair Value | Financial Instruments measured at fair value: Type Valuation technique Significant unobservable inputs Inter- relationship between significant unobservable inputs and fair value measurement Other investments Discounted cash flows: The valuation model considers the present value of expected free cash flows, discounted using a risk adjusted discount rate. Forecast annual revenue growth rate : 15% - 137% (March 31, 2017: 22% - 183%) Forecast EBITDA margin: (31%) - 17% (March 31, 2017: (18%) - 39%) Risk adjusted discount rate: 17.0% (March 31, 2017: 19.0%) The estimated fair value would increase (decrease) if : - the annual revenue growth rate were higher (lower) - the EBITDA margin were higher (lower) - the risk adjusted discount rate were lower (higher) Receivable from related party Binomial Lattice Model and Discounted Cash Flow method: The valuation model considers the discount rate, expected term, volatility, and equity value. Risk free rate: 2.5% (March 31, 2017: 1.9%) Volatility : 35.60% (March 31, 2017: 41.40%) Equity value: USD 72,720 (March 31, 2017: USD 71,500) The estimated fair value would increase (decrease) if : • the volatility were lower (higher) • the equity value were higher (lower) |
Summary of Financial Instruments Not Measured at Fair Value | Financial Instruments not measured at fair value: Type Valuation technique Significant unobservable inputs Other financial assets and liabilities* Discounted cash flows Not applicable |
Summary of Sensitivity Analysis for Other Investments | For the fair values of other investments, reasonably possible changes of 100 basis points at the reporting date to one of the significant unobservable inputs, holding other inputs constant, would have the following effects: For the year ended March 31, 2018 Other Comprehensive Income Increase Decrease Annual revenue growth rate 364 (356 ) EBITDA Margin 144 (144 ) Risk adjusted discount rate (624 ) 738 For the year ended March 31, 2017 Other Comprehensive Income Increase Decrease Annual revenue growth rate 195 (191 ) EBITDA Margin 80 (80 ) Risk adjusted discount rate (370 ) 426 |
Summary of Receivable from Related Party | For the fair values of receivables from related party, reasonably possible changes of 500 basis points at the reporting date to one of the significant unobservable inputs, holding other inputs constant, would have the following effects: For the year ended March 31, 2018 Other Comprehensive Income Increase Decrease Volatility (100 ) 100 Equity value 700 (700 ) For the year ended March 31, 2017 Other Comprehensive Income Increase Decrease Volatility (200 ) 200 Equity value 400 (400 ) |
Operating Leases (Tables)
Operating Leases (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Operating Lease [Abstract] | |
Summary of Non-cancellable Operating Lease Rentals Payables | Non-cancellable operating lease rentals are payable as follows: As at March 31 Particulars 2017 2018 Less than one year 4,825 5,072 Between one and five years 16,766 17,015 More than five years 23,251 19,781 Total 44,842 41,868 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Summary of Key Management Personnel Compensation | Key management personnel compensation comprised: For the year ended March 31 Particulars 2016 2017 2018 Short-term employee benefits 2,373 3,142 4,976 Contribution to defined contribution plan 77 108 94 Share based payment 7,688 14,892 27,714 Legal and professional 112 150 86 Total 10,250 18,292 32,870 Note: ** Provision for gratuity and compensated absences has not been considered, since the provisions are based on actuarial valuations for the Group’s entities as a whole. |
Key Management Personnels [Member] | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Summary of Transactions with Related Party | (B) Transactions with Entity providing Key Management Personnel Services: For the year ended March 31 Transactions 2016 2017 2018 Key management personnel services 2 3 2 Consultancy services 14 23 22 As at March 31 Balance Outstanding 2017 2018 Trade and other payables 3 — |
Significant Influence Over Company [Member] | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Summary of Transactions with Related Party | As at March 31 Balance Outstanding 2017 2018 Trade and other receivables 3,156 4,879 For the year ended March 31 Transactions 2016 2017 2018 Revenue from air ticketing 2 27 36 Services received 72 34 75 As at March 31 Balance Outstanding 2017 2018 Trade and other receivables — 10 |
List of Material Subsidiaries (
List of Material Subsidiaries (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Significant Investments In Subsidiaries [Abstract] | |
Schedule of List of Material Subsidiaries | Name of entity Place of Incorporation Ownership interest as at March 31, 2017 Ownership interest as at March 31, 2018 1. MakeMyTrip Inc. Delaware, USA 100 % 100 % 2. MakeMyTrip (India) Private Limited India 100 % 100 % 3. Ibibo Group Holdings (Singapore) Pte. Ltd. Singapore 100 % 100 % 4. Ibibo Group Private Limited India 100 % 100 % 5. Luxury Tours & Travel Pte. Ltd. Singapore 100 % 100 % 6. Luxury Tours (Malaysia) Sdn Bhd. Malaysia 100 % 100 % 7. ITC Bangkok Co. Ltd. Thailand 100 % 100 % |
Quarterly Financial Data (Una84
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure Of Quarterly Financial Data [Abstract] | |
Summary of Quarterly Financial Data | For the three months ended Year Ended 30-Jun-17 30-Sep-17 31-Dec-17 31-Mar-18 31-Mar-18 Revenue Air ticketing 41,325 40,322 40,474 45,270 167,391 Hotels and packages 134,574 98,274 113,720 93,395 439,963 Other revenue 16,157 14,321 18,283 19,141 67,902 Total revenue 192,056 152,917 172,477 157,806 675,256 Other income 12 88 174 161 435 Service cost Procurement cost of hotel and packages Services 58,357 32,271 43,730 34,989 169,347 Other cost of providing services 1,819 1,376 1,661 1,674 6,530 Personnel expenses 29,821 29,015 26,894 28,427 114,157 Marketing and sales promotion expenses 133,021 115,947 108,971 93,879 451,818 Other operating expenses 29,599 28,272 32,632 30,063 120,566 Depreciation, amortization and impairment 7,447 7,707 6,931 10,627 32,712 Result from operating activities (67,996 ) (61,583 ) (48,168 ) (41,692 ) (219,439 ) Loss before tax (68,415 ) (62,271 ) (45,432 ) (44,031 ) (220,149 ) Loss for the period (68,454 ) (62,321 ) (45,348 ) (44,117 ) (220,240 ) For the three months ended Year Ended 30-Jun-16 30-Sep-16 31-Dec-16 31-Mar-17* 31-Mar-17* Revenue Air ticketing 23,880 23,556 38,216 32,862 118,514 Hotels and packages 95,571 57,628 82,175 78,880 314,254 Other revenue 1,775 1,925 2,857 8,291 14,848 Total revenue 121,226 83,109 123,248 120,033 447,616 Other income - 206 93 64 363 Service cost Procurement cost of hotel and packages services 62,358 29,913 46,703 34,945 173,919 Personnel expenses 13,141 14,243 13,652 32,700 73,736 Marketing and sales promotion expenses 52,679 48,358 44,552 78,835 224,424 Other operating expenses 18,669 17,419 18,202 27,295 81,585 Depreciation, amortization and impairment 2,191 2,496 3,377 21,638 29,702 Result from operating activities (27,812 ) (29,114 ) (3,145 ) (75,316 ) (135,387 ) Profit (Loss) before tax (14,284 ) (39,350 ) 16,608 (73,084 ) (110,110 ) Profit (Loss) for the period (14,314 ) (39,447 ) 16,556 (73,098 ) (110,303 ) * The operations of ibibo Group have been consolidated in the financial statements of the Group from January 31, 2017. During the three months ended March 31, 2017, ibibo Group contributed revenue of USD 28,740 and loss of USD 26,470 to the Group’s result. |
Significant Accounting Polici85
Significant Accounting Policies - Additional information (Detail) | 12 Months Ended | ||
Mar. 31, 2018Segment$ / shares | Mar. 31, 2017$ / shares | Mar. 31, 2016$ / shares | |
Disclosure Of Significant Accounting Policies [Line Items] | |||
Par value per share | $ 0.0005 | $ 0.0005 | |
Number of reportable segments | Segment | 2 | ||
Ordinary Share [Member] | |||
Disclosure Of Significant Accounting Policies [Line Items] | |||
Par value per share | $ 0.0005 | ||
Class B Shares [Member] | |||
Disclosure Of Significant Accounting Policies [Line Items] | |||
Par value per share | $ 0.0005 |
Significant Accounting Polici86
Significant Accounting Policies - Summary of Estimated Useful Lives of Assets on Depreciation Calculated (Detail) | 12 Months Ended |
Mar. 31, 2018 | |
Computers [Member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Estimated useful lives of assets | 3-6 years |
Furniture and Fixtures [Member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Estimated useful lives of assets | 5-6 years |
Office Equipments [Member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Estimated useful lives of assets | 1-5 years |
Motor Vehicles [Member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Estimated useful lives of assets | 3-7 years |
Diesel Generator Sets [Member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Estimated useful lives of assets | 7 years |
Building [Member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Estimated useful lives of assets | 20 years |
Significant Accounting Polici87
Significant Accounting Policies - Summary of Estimated Useful Lives of Assets on Amortization of Assets Other than Goodwill Calculated (Detail) | 12 Months Ended |
Mar. 31, 2018 | |
Technology Related Development Costs [Member] | |
Disclosure Of Intangible Assets [Line Items] | |
Estimated useful lives of intangible assets | 2 - 5 years |
Software [Member] | |
Disclosure Of Intangible Assets [Line Items] | |
Estimated useful lives of intangible assets | 3 - 5 years |
Customer Related Intangible Assets [Member] | |
Disclosure Of Intangible Assets [Line Items] | |
Estimated useful lives of intangible assets | 7-10 years |
Contract Related Intangible Assets [member] | |
Disclosure Of Intangible Assets [Line Items] | |
Estimated useful lives of intangible assets | 5-6 years |
Marketing Related Intangible Assets [member] | |
Disclosure Of Intangible Assets [Line Items] | |
Estimated useful lives of intangible assets | 7-10 years |
Favorable Lease Contract Term Related Intangible Assets [member] | |
Disclosure Of Intangible Assets [Line Items] | |
Estimated useful lives of intangible assets | 7 years |
Operating Segments - Additional
Operating Segments - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2018Segment | |
Disclosure Of Operating Segments [Abstract] | |
Number of reportable segments | 2 |
Segment reporting disclosure of major customers | None of the corporate and other customers account for more than 10% or more of the Group’s revenues. |
Operating Segments - Summary of
Operating Segments - Summary of Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | ||
Disclosure of operating segments [Line Items] | ||||||||||||
Revenues | $ 752,997 | $ 447,616 | $ 336,054 | |||||||||
Total segment revenue | 752,997 | 447,616 | 336,054 | |||||||||
Service cost | 175,877 | 173,919 | 167,034 | |||||||||
Segment Revenue less Service Cost | 577,120 | 273,697 | 169,020 | |||||||||
Other income | $ 161 | $ 174 | $ 88 | $ 12 | $ 64 | $ 93 | $ 206 | 435 | 363 | 1,014 | ||
Personnel expenses | (28,427) | (26,894) | (29,015) | (29,821) | (32,700) | (13,652) | (14,243) | $ (13,141) | (114,157) | (73,736) | (49,018) | |
Marketing and sales promotion expenses | (529,559) | (224,424) | (108,966) | |||||||||
Other operating expenses | (30,063) | (32,632) | (28,272) | (29,599) | (27,295) | (18,202) | (17,419) | (18,669) | (120,566) | (81,585) | (67,954) | |
Depreciation, amortization and impairment | (10,627) | (6,931) | (7,707) | (7,447) | (21,638) | (3,377) | (2,496) | (2,191) | (32,712) | (29,702) | (10,923) | |
Finance income | 5,189 | 45,268 | 1,586 | |||||||||
Finance costs | (3,901) | (18,289) | (20,327) | |||||||||
Impairment in respect of an equity - accounted investee | (959) | |||||||||||
Share of loss of equity-accounted investees | (1,998) | (1,702) | (1,860) | |||||||||
Loss before tax | $ (44,031) | $ (45,432) | $ (62,271) | $ (68,415) | $ (73,084) | $ 16,608 | $ (39,350) | $ (14,284) | (220,149) | (110,110) | (88,387) | |
Less: Promotion expenses recorded as a reduction of revenue | [1] | (77,741) | ||||||||||
Consolidated Revenue | 675,256 | 447,616 | 336,054 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | 77,741 | ||||||||||
Consolidated marketing and sales promotion expenses | (451,818) | (224,424) | (108,966) | |||||||||
Reportable Segments [Member] | ||||||||||||
Disclosure of operating segments [Line Items] | ||||||||||||
Revenues | 685,095 | 432,768 | 329,885 | |||||||||
Total segment revenue | 685,095 | 432,768 | 329,885 | |||||||||
Service cost | 169,347 | 173,919 | 167,034 | |||||||||
Segment Revenue less Service Cost | 515,748 | 258,849 | 162,851 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | (77,741) | ||||||||||
Consolidated Revenue | 607,354 | 432,768 | 329,885 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | 77,741 | ||||||||||
Reportable Segments [Member] | Air Ticketing [Member] | ||||||||||||
Disclosure of operating segments [Line Items] | ||||||||||||
Revenues | 202,064 | 118,514 | 78,172 | |||||||||
Total segment revenue | 202,064 | 118,514 | 78,172 | |||||||||
Service cost | 1,770 | |||||||||||
Segment Revenue less Service Cost | 202,064 | 118,514 | 76,402 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | (34,673) | ||||||||||
Consolidated Revenue | 167,391 | 118,514 | 78,172 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | 34,673 | ||||||||||
Reportable Segments [Member] | Hotels and Packages [Member] | ||||||||||||
Disclosure of operating segments [Line Items] | ||||||||||||
Revenues | 483,031 | 314,254 | 251,713 | |||||||||
Total segment revenue | 483,031 | 314,254 | 251,713 | |||||||||
Service cost | 169,347 | 173,919 | 165,264 | |||||||||
Segment Revenue less Service Cost | 313,684 | 140,335 | 86,449 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | (43,068) | ||||||||||
Consolidated Revenue | 439,963 | 314,254 | 251,713 | |||||||||
Less: Promotion expenses recorded as a reduction of revenue | [1] | 43,068 | ||||||||||
All Other Segments [Member] | ||||||||||||
Disclosure of operating segments [Line Items] | ||||||||||||
Revenues | 67,902 | 14,848 | 6,169 | |||||||||
Total segment revenue | 67,902 | 14,848 | 6,169 | |||||||||
Service cost | 6,530 | |||||||||||
Segment Revenue less Service Cost | 61,372 | 14,848 | 6,169 | |||||||||
Consolidated Revenue | $ 67,902 | $ 14,848 | $ 6,169 | |||||||||
[1] | For purposes of reporting to the CODM, certain promotion expenses which are reported as a reduction of revenue are added back to the respective segment revenue lines and marketing and sales promotion expenses. For reporting in accordance with IFRS, such expenses are recorded as a reduction from the respective revenue lines. Therefore, the reclassification excludes these expenses from the respective segment revenue lines and adds them to the marketing and sales promotion expenses. |
Operating Segments - Summary 90
Operating Segments - Summary of Geographical Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | ||
Disclosure of geographical areas [Line Items] | ||||||||||||
Revenue | $ 157,806 | $ 172,477 | $ 152,917 | $ 192,056 | $ 120,033 | $ 123,248 | $ 83,109 | $ 121,226 | $ 675,256 | $ 447,616 | $ 336,054 | |
Non-Current Assets | [1] | 1,200,290 | 1,219,925 | 1,200,290 | 1,219,925 | |||||||
India [Member] | ||||||||||||
Disclosure of geographical areas [Line Items] | ||||||||||||
Revenue | 647,077 | 415,555 | 295,794 | |||||||||
Non-Current Assets | [1] | 1,195,212 | 1,211,999 | 1,195,212 | 1,211,999 | |||||||
United States [Member] | ||||||||||||
Disclosure of geographical areas [Line Items] | ||||||||||||
Revenue | 113 | 2,382 | 6,504 | |||||||||
Non-Current Assets | [1] | 14 | 23 | 14 | 23 | |||||||
South East Asia [Member] | ||||||||||||
Disclosure of geographical areas [Line Items] | ||||||||||||
Revenue | 10,888 | 11,115 | 10,132 | |||||||||
Non-Current Assets | [1] | 4,838 | 7,719 | 4,838 | 7,719 | |||||||
Europe [Member] | ||||||||||||
Disclosure of geographical areas [Line Items] | ||||||||||||
Revenue | 6,972 | 9,184 | 12,698 | |||||||||
All Other Countries [Member] | ||||||||||||
Disclosure of geographical areas [Line Items] | ||||||||||||
Revenue | 10,206 | 9,380 | $ 10,926 | |||||||||
Non-Current Assets | [1] | $ 226 | $ 184 | $ 226 | $ 184 | |||||||
[1] | Non-current assets presented above represent property, plant and equipment, intangible assets and goodwill, non-current tax assets, and other non-current assets (excluding financial assets). |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) $ / shares in Units, $ in Thousands | Jan. 31, 2017USD ($)shares$ / shares | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | May 31, 2017USD ($) | Oct. 18, 2016 |
Disclosure Of Business Combinations [Line Items] | ||||||||||||||
Revenue | $ 157,806 | $ 172,477 | $ 152,917 | $ 192,056 | $ 120,033 | $ 123,248 | $ 83,109 | $ 121,226 | $ 675,256 | $ 447,616 | $ 336,054 | |||
Loss for the year | (220,240) | (110,303) | (88,542) | |||||||||||
Acquisition related costs | $ 30,063 | $ 32,632 | $ 28,272 | $ 29,599 | $ 27,295 | $ 18,202 | $ 17,419 | $ 18,669 | $ 120,566 | 81,585 | $ 67,954 | |||
MTH Internet: SEA. Pte. Ltd [Member] | ||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||
Net working capital contribution in cash | $ 82,826 | |||||||||||||
Working capital contributed after adjustment | $ 83,260 | |||||||||||||
Ibibo Group Holdings Singapore Pte Ltd | ||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||
Percentage of voting equity interests acquired | 100.00% | 100.00% | ||||||||||||
Revenue from acquiree | 28,740 | |||||||||||||
Profit or loss from acquiree | 26,470 | |||||||||||||
Ibibo Group | ||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||
Revenue | 609,798 | |||||||||||||
Loss for the year | 225,355 | |||||||||||||
Working capital contributed after adjustment | $ 83,260 | |||||||||||||
Fair value of equity replacement award | 26,021 | |||||||||||||
Fair value of replacement award net of forfeiture | 24,832 | |||||||||||||
Replacement share-based payment awards | 15,008 | |||||||||||||
Post acquisition share based compensation costs | 9,824 | |||||||||||||
Acquisition related costs | $ 5,972 | |||||||||||||
Fair value of acquired current assets | $ 7,601 | |||||||||||||
Ibibo Group | Class B Shares [Member] | ||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||
Number of instruments or interests issued or issuable | shares | 38,971,539 | |||||||||||||
Ibibo Group | Ordinary Shares [Member] | ||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||
Number of instruments or interests issued or issuable | shares | 413,035 | |||||||||||||
Equity instruments issued price per share | $ / shares | $ 21.19 |
Business Combinations - Summary
Business Combinations - Summary of the Acquisition Date Fair Value of Each Class of Consideration Transferred (Detail) - Ibibo Group $ in Thousands | Jan. 31, 2017USD ($) |
Disclosure Of Business Combinations [Line Items] | |
Equity instruments issued to Parent | $ 3,741 |
Working capital infusion by the Parent | (83,260) |
Replacement share-based payment awards | 15,008 |
Total Consideration transferred | 1,114,281 |
Class B Shares [Member] | |
Disclosure Of Business Combinations [Line Items] | |
Equity instruments issued to Parent | $ 1,178,792 |
Business Combinations - Summa93
Business Combinations - Summary of the Acquisition Date Fair Value of Each Class of Consideration Transferred (Parenthetical) (Detail) - Ibibo Group | Jan. 31, 2017shares |
Class B Shares [Member] | |
Disclosure Of Business Combinations [Line Items] | |
Number of instruments or interests issued or issuable | 38,971,539 |
Ordinary Shares [Member] | |
Disclosure Of Business Combinations [Line Items] | |
Number of instruments or interests issued or issuable | 413,035 |
Business Combinations - Summa94
Business Combinations - Summary of Purchase Price allocation (Detail) - Ibibo Group $ in Thousands | Jan. 31, 2017USD ($) |
Disclosure Of Business Combinations [Line Items] | |
Property, plant and equipment | $ 1,189 |
Intangible assets | 153,860 |
Other non-current assets | 20,499 |
Current assets and liabilities, net (including cash and cash equivalents of USD 19,988) | (12,309) |
Employee benefits | (605) |
Equity stake in an associate | 2,060 |
Total identifiable net assets assumed | 164,694 |
Non-controlling interest | (617) |
Goodwill | 950,204 |
Total Consideration transferred | $ 1,114,281 |
Business Combinations - Summa95
Business Combinations - Summary of Purchase Price allocation (Parenthetical) (Detail) $ in Thousands | Jan. 31, 2017USD ($) |
Ibibo Group | |
Disclosure Of Business Combinations [Line Items] | |
Cash and cash equivalents | $ 19,988 |
Investment in Equity-Accounte96
Investment in Equity-Accounted Investees - Summary of Financial Information for Individually Immaterial Associates (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Significant Investments In Associates [Abstract] | |||
Carrying amount of interests in associates | $ 16,316 | $ 18,212 | |
Share of loss of equity-accounted investees | $ (1,998) | $ (1,702) | $ (1,860) |
Other Investments - Schedule of
Other Investments - Schedule of Investment (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Assets [Line Items] | ||
Total other investments | $ 6,170 | $ 5,791 |
Available-for-sale financial assets and held to maturity [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Investment in equity and other securities | 6,170 | 5,791 |
Total other investments | $ 6,170 | $ 5,791 |
Other Revenue - Schedule of Oth
Other Revenue - Schedule of Other Revenue (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Other Revenue [Abstract] | |||||||||||
Commission on bus and rail reservation | $ 51,435 | $ 5,823 | $ 946 | ||||||||
Advertising revenue | 981 | 1,326 | 953 | ||||||||
Facilitation fee | 14,588 | 6,956 | 3,516 | ||||||||
Miscellaneous | 898 | 743 | 754 | ||||||||
Total | $ 19,141 | $ 18,283 | $ 14,321 | $ 16,157 | $ 8,291 | $ 2,857 | $ 1,925 | $ 1,775 | $ 67,902 | $ 14,848 | $ 6,169 |
Other Income - Summary of Other
Other Income - Summary of Other Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Other Income [Abstract] | ||||||||||
Claim received from vendor | $ 24 | |||||||||
Excess provision written back | $ 96 | $ 93 | ||||||||
Income on license acquired | 886 | |||||||||
Others | 339 | 270 | 104 | |||||||
Total | $ 161 | $ 174 | $ 88 | $ 12 | $ 64 | $ 93 | $ 206 | $ 435 | $ 363 | $ 1,014 |
Personnel Expenses - Summary of
Personnel Expenses - Summary of Personnel expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Personal Expenses [Abstract] | |||||||||||
Wages, salaries and other employees benefits | $ 62,303 | $ 42,073 | $ 31,001 | ||||||||
Contributions to defined contribution plans | 3,055 | 2,204 | 2,017 | ||||||||
Expenses related to defined benefit plans | 868 | 363 | 253 | ||||||||
Equity-settled share based payment | 44,716 | 26,795 | 13,685 | ||||||||
Employee welfare expenses | 3,215 | 2,301 | 2,062 | ||||||||
Total | $ 28,427 | $ 26,894 | $ 29,015 | $ 29,821 | $ 32,700 | $ 13,652 | $ 14,243 | $ 13,141 | $ 114,157 | $ 73,736 | $ 49,018 |
Other Operating Expenses - Summ
Other Operating Expenses - Summary of Other Operating Expenses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Other Operating Expense [Abstract] | |||||||||||
Payment gateway and other charges | $ 50,597 | $ 27,269 | $ 25,019 | ||||||||
Outsourcing expenses | 26,158 | 16,920 | 16,055 | ||||||||
Travelling and conveyance | 3,105 | 3,537 | 3,069 | ||||||||
Communication | 5,288 | 4,385 | 3,600 | ||||||||
Repairs and maintenance | 5,300 | 4,322 | 3,322 | ||||||||
Rent | 7,701 | 3,831 | 2,949 | ||||||||
Legal and professional | 7,894 | 11,395 | 3,707 | ||||||||
Website hosting charges | 6,771 | 2,428 | 2,243 | ||||||||
Net loss on disposal of property, plant and equipment | 70 | 46 | 380 | ||||||||
Intangible assets written off | 356 | ||||||||||
Miscellaneous expenses | 7,326 | 7,452 | 7,610 | ||||||||
Total | $ 30,063 | $ 32,632 | $ 28,272 | $ 29,599 | $ 27,295 | $ 18,202 | $ 17,419 | $ 18,669 | $ 120,566 | $ 81,585 | $ 67,954 |
Other Operating Expenses - S102
Other Operating Expenses - Summary of Other Operating Expenses (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Other Operating Income Expense [Line Items] | |||
Share based payment expense | $ 44,716 | $ 26,795 | $ 13,685 |
Legal and Professional [Member] | |||
Disclosure Of Other Operating Income Expense [Line Items] | |||
Share based payment expense | $ 144 |
Depreciation Amortization and I
Depreciation Amortization and Impairment - Schedule of Depreciation Amortization and Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Depreciation Amortisation And Impairment Expense [Abstract] | |||||||||||
Depreciation | $ 4,357 | $ 5,149 | $ 2,724 | ||||||||
Amortization | 25,481 | 9,386 | 6,032 | ||||||||
Impairment | 2,874 | 15,167 | 2,167 | ||||||||
Total | $ 10,627 | $ 6,931 | $ 7,707 | $ 7,447 | $ 21,638 | $ 3,377 | $ 2,496 | $ 2,191 | $ 32,712 | $ 29,702 | $ 10,923 |
Finance Income and Costs - Summ
Finance Income and Costs - Summary of Finance Income and Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Finance Income Expense [Abstract] | |||
Interest income on term deposits | $ 4,503 | $ 2,208 | $ 1,477 |
Other interest income | 686 | 633 | 109 |
Net gain on change in fair value of derivative financial instrument | 42,427 | ||
Finance income | 5,189 | 45,268 | 1,586 |
Interest expense on financial liabilities measured at amortised cost | 422 | 8,574 | 3,838 |
Change in financial liability | 2 | 496 | |
Cost related to convertible notes | 775 | ||
Net foreign exchange loss | 2,386 | 1,669 | 4,501 |
Impairment loss on trade and other receivables | 604 | 1,771 | 984 |
Net loss on change in fair value of derivative financial instrument | 9,017 | ||
Finance and other charges | 489 | 6,273 | 716 |
Finance costs | 3,901 | 18,289 | 20,327 |
Net finance income (costs) | $ 1,288 | $ 26,979 | $ (18,741) |
Income Tax Benefit (Expense) -
Income Tax Benefit (Expense) - Schedule of Income Tax Recognized in Profit or Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Current tax expense | |||
Current period | $ (135) | $ (237) | $ (178) |
Current tax expense | (135) | (237) | (178) |
Deferred tax benefit (expense) | |||
Origination and reversal of temporary differences | (1,231) | 1,928 | 4,343 |
Change in unrecognized deductible temporary differences | 620 | (1,908) | (4,335) |
Utilization of previously unrecognised tax losses | 655 | 24 | 15 |
Deferred tax benefit (expense) | 44 | 44 | 23 |
Total | $ (91) | $ (193) | $ (155) |
Income Tax Benefit (Expense)106
Income Tax Benefit (Expense) - Schedule of Income Tax Recognized in Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Income Tax Relating To Components Of Other Comprehensive Income [Abstract] | |||
Foreign currency translation differences on foreign operations, before tax | $ (1,915) | $ 48,618 | $ (565) |
Net change in fair value of available-for- sale financial assets, before tax | 2,280 | (809) | 752 |
Remeasurement of defined benefit (asset) liability, before tax | (422) | (266) | (149) |
Total | (57) | 47,543 | 38 |
Foreign currency translation differences on foreign operations, tax (expense) benefit | 0 | 0 | 0 |
Net change in fair value of available-for- sale financial assets, tax (expense) benefit | 0 | 0 | 0 |
Remeasurement of defined benefit (asset) liability, tax (expense) benefit | 0 | 0 | 0 |
Total | 0 | 0 | 0 |
Foreign currency translation differences on foreign operations, net of tax | (1,915) | 48,618 | (565) |
Net change in fair value of available-for- sale financial assets, net of tax | 2,280 | (809) | 752 |
Remeasurement of defined benefit (asset) liability | (422) | (266) | (149) |
Other comprehensive income (loss) for the year, net of tax | $ (57) | $ 47,543 | $ 38 |
Income Tax Benefit (Expense)107
Income Tax Benefit (Expense) - Schedule of Reconciliation of Effective Tax Rate (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||||||||||
Income tax benefit using the Company's domestic tax rate, percentage | 15.00% | 15.00% | 15.00% | ||||||||
Effect of tax rates in foreign jurisdictions, percentage | 13.90% | 13.60% | 9.81% | ||||||||
Non deductible expenses, percentage | 0.81% | 3.64% | 2.84% | ||||||||
Tax exempt income, percentage | 0.28% | 5.99% | 0.08% | ||||||||
Utilization of previously unrecognised tax losses, percentage | 0.30% | 0.02% | 0.02% | ||||||||
Current year losses for which no deferred tax asset was recognized, percentage | 29.00% | 29.37% | 17.35% | ||||||||
Change in unrecognised temporary differences, percentage | 0.28% | 1.73% | 4.90% | ||||||||
Others, percentage | 0.00% | 0.05% | 0.00% | ||||||||
Loss for the year | $ (44,117) | $ (45,348) | $ (62,321) | $ (68,454) | $ (73,098) | $ 16,556 | $ (39,447) | $ (14,314) | $ (220,240) | $ (110,303) | $ (88,542) |
Income tax expense | (91) | (193) | (155) | ||||||||
Loss before tax | $ (44,031) | $ (45,432) | $ (62,271) | $ (68,415) | $ (73,084) | $ 16,608 | $ (39,350) | $ (14,284) | (220,149) | (110,110) | (88,387) |
Income tax benefit using the Company's domestic tax rate | 33,020 | 16,517 | 13,261 | ||||||||
Effect of tax rates in foreign jurisdictions | 30,611 | 14,978 | 8,671 | ||||||||
Non deductible expenses | (1,781) | (4,005) | (2,508) | ||||||||
Tax exempt income | 622 | 6,593 | 74 | ||||||||
Utilization of previously unrecognised tax losses | 655 | 24 | 15 | ||||||||
Current year losses for which no deferred tax asset was recognized | (63,833) | (32,340) | (15,334) | ||||||||
Change in unrecognized deductible temporary differences | 620 | (1,908) | (4,335) | ||||||||
Others | (5) | (52) | 1 | ||||||||
Total | $ (91) | $ (193) | $ (155) |
Property Plant and Equipment -
Property Plant and Equipment - Summary of Property Plant and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | ||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | $ 15,334 | $ 10,285 | |||
Ending balance | 13,690 | 15,334 | |||
Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 24,479 | 19,245 | |||
Acquisitions through business combinations | 1,189 | ||||
Additions | 4,197 | 9,063 | |||
Disposals | (2,739) | [1] | (5,561) | [2] | |
Effect of movements in foreign exchange rates | 130 | 543 | |||
Ending balance | 26,067 | 24,479 | |||
Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (9,145) | (8,960) | |||
Disposals | 1,167 | [1] | 5,127 | [2] | |
Effect of movements in foreign exchange rates | (42) | (163) | |||
Ending balance | (12,377) | (9,145) | |||
Depreciation for the year | (4,357) | (5,149) | |||
Land [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 812 | 794 | |||
Ending balance | 812 | ||||
Land [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 812 | 794 | |||
Disposals | [1] | (845) | |||
Effect of movements in foreign exchange rates | 33 | 18 | |||
Ending balance | 812 | ||||
Building [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 303 | 336 | |||
Ending balance | 303 | ||||
Building [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 489 | 478 | |||
Disposals | [1] | (509) | |||
Effect of movements in foreign exchange rates | 20 | 11 | |||
Ending balance | 489 | ||||
Building [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (186) | (142) | |||
Disposals | [1] | 203 | |||
Effect of movements in foreign exchange rates | (7) | (4) | |||
Ending balance | (186) | ||||
Depreciation for the year | (10) | (40) | |||
Computers [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 6,988 | 5,098 | |||
Ending balance | 6,312 | 6,988 | |||
Computers [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 13,539 | 10,691 | |||
Acquisitions through business combinations | 880 | ||||
Additions | 2,198 | 3,026 | |||
Disposals | (341) | [1] | (1,381) | [2] | |
Effect of movements in foreign exchange rates | 42 | 323 | |||
Ending balance | 15,438 | 13,539 | |||
Computers [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (6,551) | (5,593) | |||
Disposals | 252 | [1] | 1,365 | [2] | |
Effect of movements in foreign exchange rates | (54) | (136) | |||
Ending balance | (9,126) | (6,551) | |||
Depreciation for the year | (2,773) | (2,187) | |||
Furniture and Fixtures [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 450 | 108 | |||
Ending balance | 614 | 450 | |||
Furniture and Fixtures [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 580 | 210 | |||
Acquisitions through business combinations | 126 | ||||
Additions | 412 | 283 | |||
Disposals | (123) | [1] | (51) | [2] | |
Effect of movements in foreign exchange rates | 2 | 12 | |||
Ending balance | 871 | 580 | |||
Furniture and Fixtures [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (130) | (102) | |||
Disposals | 35 | [1] | 28 | [2] | |
Effect of movements in foreign exchange rates | 22 | (2) | |||
Ending balance | (257) | (130) | |||
Depreciation for the year | (184) | (54) | |||
Office Equipment [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 909 | 449 | |||
Ending balance | 1,003 | 909 | |||
Office Equipment [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 1,810 | 1,297 | |||
Acquisitions through business combinations | 105 | ||||
Additions | 456 | 600 | |||
Disposals | (367) | [1] | (232) | [2] | |
Effect of movements in foreign exchange rates | 27 | 40 | |||
Ending balance | 1,926 | 1,810 | |||
Office Equipment [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (901) | (848) | |||
Disposals | 330 | [1] | 224 | [2] | |
Effect of movements in foreign exchange rates | 9 | (14) | |||
Ending balance | (923) | (901) | |||
Depreciation for the year | (361) | (263) | |||
Motor Vehicles [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 815 | 654 | |||
Ending balance | 660 | 815 | |||
Motor Vehicles [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 1,489 | 1,100 | |||
Acquisitions through business combinations | 59 | ||||
Additions | 344 | 382 | |||
Disposals | (441) | [1] | (88) | [2] | |
Effect of movements in foreign exchange rates | 9 | 36 | |||
Ending balance | 1,401 | 1,489 | |||
Motor Vehicles [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (674) | (446) | |||
Disposals | 241 | [1] | 27 | [2] | |
Effect of movements in foreign exchange rates | (6) | (14) | |||
Ending balance | (741) | (674) | |||
Depreciation for the year | (302) | (241) | |||
Leasehold Improvements [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 2,265 | 2,828 | |||
Ending balance | 5,048 | 2,265 | |||
Leasehold Improvements [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 2,962 | 4,652 | |||
Acquisitions through business combinations | 19 | ||||
Additions | 3,540 | 2,071 | |||
Disposals | (113) | [1] | (3,809) | [2] | |
Effect of movements in foreign exchange rates | (17) | 29 | |||
Ending balance | 6,372 | 2,962 | |||
Leasehold Improvements [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (697) | (1,824) | |||
Disposals | 106 | [1] | 3,483 | [2] | |
Effect of movements in foreign exchange rates | (6) | 7 | |||
Ending balance | (1,324) | (697) | |||
Depreciation for the year | (727) | (2,363) | |||
Diesel Generator Sets [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 3 | 4 | |||
Ending balance | 3 | 3 | |||
Diesel Generator Sets [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 9 | 9 | |||
Ending balance | 9 | 9 | |||
Diesel Generator Sets [Member] | Accumulated depreciation and impairment loss [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | (6) | (5) | |||
Ending balance | (6) | (6) | |||
Depreciation for the year | (1) | ||||
Capital work in progress [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 2,789 | 14 | |||
Ending balance | 50 | 2,789 | |||
Capital work in progress [Member] | Carrying amounts [Member] | |||||
Disclosure Of Property Plant And Equipment [Line Items] | |||||
Beginning balance | 2,789 | 14 | |||
Additions | (2,753) | 2,701 | |||
Effect of movements in foreign exchange rates | 14 | 74 | |||
Ending balance | $ 50 | $ 2,789 | |||
[1] | includes assets reclassified to assets held for sale with cost of USD 1,354 and accumulated depreciation of USD 203. | ||||
[2] | includes assets reclassified to assets held for sale with cost of USD 3,733 and accumulated depreciation of USD 3,443. |
Property Plant and Equipment109
Property Plant and Equipment - Summary of Property Plant and Equipment (Parenthetical) (Detail) - Classification of Assets as Held For Sale [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||
Assets reclassified to assets held for sale cost | $ 1,354 | $ 3,733 |
Accumulated depreciation of property plant and equipment | $ 203 | $ 3,443 |
Intangible Assets and Goodwi110
Intangible Assets and Goodwill - Summary of Intangible Assets and Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | $ 1,170,727 | $ 34,886 | ||
Impairment for the year | 356 | |||
Ending balance | 1,147,517 | 1,170,727 | ||
Goodwill [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 996,810 | 13,338 | ||
Ending balance | 994,729 | 996,810 | ||
Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 1,217,117 | 56,294 | ||
Acquisitions through business combination | 1,104,064 | |||
Additions/Adjustment | [1] | 7,804 | 6,242 | |
Disposals | (889) | |||
Effect of movements in foreign exchange rates | (2,526) | 50,517 | ||
Ending balance | 1,221,506 | 1,217,117 | ||
Carrying amounts [Member] | Goodwill [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 1,006,435 | 13,338 | ||
Acquisitions through business combination | 950,204 | |||
Effect of movements in foreign exchange rates | (2,081) | 42,893 | ||
Ending balance | 1,004,354 | 1,006,435 | ||
Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 46,390 | 21,408 | ||
Amortization for the year | 25,481 | 9,386 | ||
Impairment for the year | 2,874 | [2] | 15,167 | |
Disposals | (549) | |||
Effect of movements in foreign exchange rates | (207) | 429 | ||
Ending balance | 73,989 | 46,390 | ||
Amortization and impairment [Member] | Goodwill [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 9,625 | |||
Impairment for the year | 9,625 | |||
Ending balance | 9,625 | 9,625 | ||
Customer Relationship [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 2,849 | 767 | ||
Ending balance | 2,355 | 2,849 | ||
Customer Relationship [Member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 3,629 | 1,334 | ||
Acquisitions through business combination | 2,200 | |||
Effect of movements in foreign exchange rates | 3 | 95 | ||
Ending balance | 3,632 | 3,629 | ||
Customer Relationship [Member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 780 | 567 | ||
Amortization for the year | 493 | 214 | ||
Effect of movements in foreign exchange rates | 4 | (1) | ||
Ending balance | 1,277 | 780 | ||
Non-Compete [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 17 | 139 | ||
Ending balance | 7 | 17 | ||
Non-Compete [Member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 460 | 466 | ||
Effect of movements in foreign exchange rates | 10 | (6) | ||
Ending balance | 470 | 460 | ||
Non-Compete [Member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 443 | 327 | ||
Amortization for the year | 10 | 51 | ||
Impairment for the year | 70 | |||
Effect of movements in foreign exchange rates | 10 | (5) | ||
Ending balance | 463 | 443 | ||
Brand /Trade Mark [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 138,626 | 6,447 | ||
Ending balance | 124,210 | 138,626 | ||
Brand /Trade Mark [Member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 151,369 | 10,777 | ||
Acquisitions through business combination | 134,500 | |||
Effect of movements in foreign exchange rates | (302) | 6,092 | ||
Ending balance | 151,067 | 151,369 | ||
Brand /Trade Mark [Member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 12,743 | 4,330 | ||
Amortization for the year | 14,216 | 3,475 | ||
Impairment for the year | 4,885 | |||
Effect of movements in foreign exchange rates | (102) | 53 | ||
Ending balance | 26,857 | 12,743 | ||
Technology Related Development Cost [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 27,890 | 9,162 | ||
Ending balance | 23,753 | 27,890 | ||
Technology Related Development Cost [Member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 43,771 | 20,049 | ||
Acquisitions through business combination | 16,500 | |||
Additions/Adjustment | [1] | 8,028 | 6,001 | |
Disposals | (392) | |||
Effect of movements in foreign exchange rates | (163) | 1,221 | ||
Ending balance | 51,244 | 43,771 | ||
Technology Related Development Cost [Member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 15,881 | 10,887 | ||
Amortization for the year | 9,764 | 4,734 | ||
Impairment for the year | 2,373 | [2] | 16 | |
Disposals | (358) | |||
Effect of movements in foreign exchange rates | (169) | 244 | ||
Ending balance | 27,491 | 15,881 | ||
Software [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 2,188 | 2,313 | ||
Ending balance | 1,449 | 2,188 | ||
Software [Member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 7,001 | 6,120 | ||
Acquisitions through business combination | 411 | |||
Additions/Adjustment | [1] | 318 | 330 | |
Disposals | (237) | |||
Effect of movements in foreign exchange rates | 10 | 140 | ||
Ending balance | 7,092 | 7,001 | ||
Software [Member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 4,813 | 3,807 | ||
Amortization for the year | 973 | 906 | ||
Disposals | (160) | |||
Effect of movements in foreign exchange rates | 17 | 100 | ||
Ending balance | 5,643 | 4,813 | ||
Capital work in progress [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 2,093 | 2,720 | ||
Ending balance | 1,014 | 2,093 | ||
Capital work in progress [Member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 4,192 | 4,210 | ||
Additions/Adjustment | [1] | (542) | (89) | |
Effect of movements in foreign exchange rates | (3) | 71 | ||
Ending balance | 3,647 | 4,192 | ||
Capital work in progress [Member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 2,099 | 1,490 | ||
Impairment for the year | 501 | [2] | 571 | |
Effect of movements in foreign exchange rates | 33 | 38 | ||
Ending balance | 2,633 | 2,099 | ||
Favorable Lease Contract Term Related Intangible Assets [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 254 | |||
Ending balance | 254 | |||
Favorable Lease Contract Term Related Intangible Assets [member] | Carrying amounts [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 260 | |||
Acquisitions through business combination | 249 | |||
Disposals | (260) | |||
Effect of movements in foreign exchange rates | 11 | |||
Ending balance | 260 | |||
Favorable Lease Contract Term Related Intangible Assets [member] | Amortization and impairment [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||||
Beginning balance | 6 | |||
Amortization for the year | 25 | 6 | ||
Disposals | $ (31) | |||
Ending balance | $ 6 | |||
[1] | Represents addition of USD 7,506 (March 31, 2017: USD 5,912) to capital work-in-progress, adjusted for amounts capitalized out of capital-work-in progress amounting to USD 8,028 (March 31, 2017: USD 6,001) | |||
[2] | In March 2018, the management of the Company decided to suspend operations in one of its Indian subsidiary, as it does not intend to continue operations in the future in that entity. The Group tested the technology related development cost of that entity for recoverability and recognised an impairment loss of USD 2,874 during the year ended March 31, 2018. |
Intangible Assets and Goodwi111
Intangible Assets and Goodwill - Summary of Intangible Assets and Goodwill (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Additions of capital work in progress | $ 7,506 | $ 5,912 |
Adjusted for capital work in progress | (8,028) | $ (6,001) |
Technology Related Development Cost [Member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [Line Items] | ||
Intangible assets written off | $ 2,874 |
Intangible Assets and Goodwi112
Intangible Assets and Goodwill - Summary of Goodwill has been Allocated to Acquired Subsidiaries Level (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Intangible assets and goodwill | $ 1,147,517 | $ 1,170,727 | $ 34,886 |
Goodwill [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Intangible assets and goodwill | 994,729 | 996,810 | $ 13,338 |
Goodwill [Member] | ibibo Group - Go ibibo [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Intangible assets and goodwill | 836,559 | 838,465 | |
Goodwill [Member] | ibibo Group - redBus [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Intangible assets and goodwill | 154,390 | 154,718 | |
Goodwill [Member] | Luxury Tours & Travel Pte Ltd [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Intangible assets and goodwill | 2,475 | 2,322 | |
Goodwill [Member] | ITC Group [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Intangible assets and goodwill | $ 1,305 | $ 1,305 |
Intangible Assets and Goodwi113
Intangible Assets and Goodwill - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Nov. 30, 2012 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Description related to cash flow prejections period | over a period of five to seven years | ||
ibibo Group - Go ibibo [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Percentage by which recoverable amount exceeds the carrying amount | 14.40% | 8.41% | |
Discount rate (pre-tax) | 1.72% | 0.90% | |
EBITDA margin | 3.16% | 1.62% | |
ibibo Group - redBus [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Percentage by which recoverable amount exceeds the carrying amount | 14.30% | 5.76% | |
Discount rate (pre-tax) | 1.57% | 0.53% | |
EBITDA margin | 2.12% | 1.08% | |
Hotel Travel Group [Member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Goodwill Or Intangible Assets [Line Items] | |||
Ownership interest | 100.00% | ||
Goodwill | $ 9,625 | ||
Impairment loss recognized in the year | $ 14,580 |
Intangible Assets and Goodwi114
Intangible Assets and Goodwill - Summary of Calculation of Cash flow Projections (Detail) | Mar. 31, 2018 | Mar. 31, 2017 |
Bottom of range [Member] | ||
Disclosure Calculation of Cash flow Projections [Line Items] | ||
Discount rate (pre-tax) | 19.00% | 15.00% |
Discount rate (post-tax) | 15.00% | 12.00% |
Terminal value growth rate | 3.50% | 3.50% |
EBITDA margin (5-7 years) | (14.70%) | (20.70%) |
Top of range [Member] | ||
Disclosure Calculation of Cash flow Projections [Line Items] | ||
Discount rate (pre-tax) | 24.00% | 24.00% |
Discount rate (post-tax) | 20.00% | 22.00% |
Terminal value growth rate | 4.00% | 4.00% |
EBITDA margin (5-7 years) | 42.50% | 28.40% |
Intangible Assets and Goodwi115
Intangible Assets and Goodwill - Summary of Calculation of Cash flow Projections (Parenthetical) (Detail) | 12 Months Ended |
Mar. 31, 2018 | |
Bottom of range [Member] | |
Disclosure Calculation of Cash flow Projections [Line Items] | |
Number of EBITDA margin period | 5 years |
Top of range [Member] | |
Disclosure Calculation of Cash flow Projections [Line Items] | |
Number of EBITDA margin period | 7 years |
Tax Assets and Liabilities - Su
Tax Assets and Liabilities - Summary of Unrecognized Deferred Tax Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Components Of Deferred Tax Assets [Line Items] | ||
Unrecognized deferred tax assets | $ 208,735 | $ 145,488 |
Deductible temporary differences [Member] | ||
Disclosure Of Components Of Deferred Tax Assets [Line Items] | ||
Unrecognized deferred tax assets | 27,816 | 25,261 |
Minimum alternate tax [Member] | ||
Disclosure Of Components Of Deferred Tax Assets [Line Items] | ||
Unrecognized deferred tax assets | 744 | 746 |
Tax loss carry forwards [Member] | ||
Disclosure Of Components Of Deferred Tax Assets [Line Items] | ||
Unrecognized deferred tax assets | $ 180,175 | $ 119,481 |
Tax Assets and Liabilities - Ad
Tax Assets and Liabilities - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2018 | |
Bottom of range [Member] | |
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |
Tax loss expiration period | 2,022 |
Top of range [Member] | |
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |
Tax loss expiration period | 2,035 |
Tax Assets and Liabilities -118
Tax Assets and Liabilities - Summary of Recognized Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |||
Deferred tax assets | $ 0 | $ 0 | |
Deferred tax liability | (115) | (159) | |
Deferred tax assets and liabilities | (115) | (159) | $ (203) |
Set off [Member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |||
Deferred tax assets | (33,950) | (37,590) | |
Deferred tax liability | 33,950 | 37,590 | |
Deferred tax assets and liabilities | 0 | 0 | |
Carrying amounts [Member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |||
Deferred tax assets | 33,950 | 37,590 | |
Deferred tax liability | (34,065) | (37,749) | |
Deferred tax assets and liabilities | (115) | (159) | |
Carrying amounts [Member] | Intangible assets [Member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liability | (33,675) | (37,674) | |
Deferred tax assets and liabilities | (33,675) | (37,674) | |
Carrying amounts [Member] | Property, Plant and Equipment [member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |||
Deferred tax assets | 0 | 0 | |
Deferred tax liability | (390) | (75) | |
Deferred tax assets and liabilities | (390) | (75) | |
Carrying amounts [Member] | Tax loss carry forwards [Member] | |||
Disclosure Of Components Of Deferred Tax Assets And Liabilities [Line Items] | |||
Deferred tax assets | 33,950 | 37,590 | |
Deferred tax liability | 0 | 0 | |
Deferred tax assets and liabilities | $ 33,950 | $ 37,590 |
Tax Assets and Liabilities -119
Tax Assets and Liabilities - Summary of Movement in Deferred Tax Assets/(Liabilities) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of Movement in Temporary Differences [Line Items] | ||
Beginning balance | $ (159) | $ (203) |
Recognised in profit or loss | 44 | 44 |
Ending balance | (115) | (159) |
Property, plant and equipment [Member] | ||
Disclosure of Movement in Temporary Differences [Line Items] | ||
Beginning balance | (75) | (453) |
Recognised in profit or loss | (317) | 374 |
Effects of movement in foreign exchange rates | 2 | 4 |
Ending balance | (390) | (75) |
Intangible assets [Member] | ||
Disclosure of Movement in Temporary Differences [Line Items] | ||
Beginning balance | (37,674) | (1,469) |
Acquired in business combination | (34,301) | |
Recognised in profit or loss | 3,945 | (943) |
Effects of movement in foreign exchange rates | 54 | (961) |
Ending balance | (33,675) | (37,674) |
Tax loss carry forwards [Member] | ||
Disclosure of Movement in Temporary Differences [Line Items] | ||
Beginning balance | 37,590 | 1,719 |
Acquired in business combination | 34,301 | |
Recognised in profit or loss | (3,584) | 613 |
Effects of movement in foreign exchange rates | (56) | 957 |
Ending balance | $ 33,950 | $ 37,590 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Trade And Other Receivables [Abstract] | ||
Trade and other receivables, net | $ 49,204 | $ 29,003 |
Due from employees | 108 | 109 |
Security deposits, net | 6,704 | 7,575 |
Interest accrued on term deposits | 2,299 | 597 |
Total | 58,315 | 37,284 |
Non-current | 1,929 | 2,176 |
Current | $ 56,386 | $ 35,108 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Cash And Cash Equivalents [Abstract] | ||
Cash in hand | $ 128 | $ 88 |
Funds in transit | 33,123 | 22,348 |
Bank balances | 74,239 | 59,262 |
Term deposits | 80,157 | 20,006 |
Total | $ 187,647 | $ 101,704 |
Term Deposits - Schedule of Ter
Term Deposits - Schedule of Term Deposits (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Term Deposit [Abstract] | ||
Term deposits | $ 202,335 | $ 95,673 |
Non-current | 165 | 20,162 |
Current | 202,170 | 75,511 |
Total | $ 202,335 | $ 95,673 |
Term Deposits - Additional Info
Term Deposits - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Term Deposit [Abstract] | ||
Letter of credit issued to various airlines | $ 90 | $ 90 |
Pledged with banks against bank guarantees, bank over draft facility and other facilities | $ 1,710 | $ 1,200 |
Other Current Assets - Summary
Other Current Assets - Summary of Other Current Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Other Current Assets [Abstract] | ||
Advance to suppliers | $ 70,196 | $ 46,029 |
Prepaid expenses | 4,578 | 3,500 |
Prepaid lease rentals | 313 | 268 |
Receivable from related party | 17,100 | |
Other assets | 355 | 435 |
Total | $ 92,542 | $ 50,232 |
Assets Held For Sale - Summary
Assets Held For Sale - Summary of Assets Classified as Held for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Assets Held For Sale [Line Items] | ||
Total | $ 1,220 | $ 302 |
Property, plant and equipment [member] | ||
Disclosure Of Assets Held For Sale [Line Items] | ||
Total | $ 1,220 | $ 302 |
Other Non-Current Assets - Summ
Other Non-Current Assets - Summary of Other Non-Current Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Other Non Current Assets [Abstract] | ||
Prepaid lease rentals | $ 2,336 | $ 2,833 |
Indirect tax paid | 11,385 | 11,410 |
Prepaid expenses | 886 | 315 |
Receivable from related party | 15,100 | |
Total | $ 14,607 | $ 29,658 |
Capital and Reserves - Schedule
Capital and Reserves - Schedule of Share Capital and Share Premium (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | ||
Disclosure of classes of share capital [Line Items] | ||||
Own shares acquired | (144,131) | |||
Beginning balance | $ 1,405,462 | $ 77,609 | $ 157,854 | |
Shares issued during the year on exercise of share based awards | 44,860 | 26,849 | 13,740 | |
Reissue of own shares on conversion of convertible notes | 10,627 | |||
Issue of ordinary shares on conversion of convertible notes | 148,106 | |||
Issued in business combination | 1,206,293 | |||
Ending balance | 1,558,932 | 1,405,462 | 77,609 | |
Share Capital [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | 46 | 21 | 21 | |
Issue of ordinary shares on conversion of convertible notes | 5 | |||
Issued in business combination | 19 | |||
Ending balance | 52 | 46 | 21 | |
Share Premium [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | 1,607,373 | 248,732 | 242,662 | |
Reissue of own shares on conversion of convertible notes | 999 | |||
Issue of ordinary shares on conversion of convertible notes | 148,101 | |||
Issued in business combination | 1,191,266 | |||
Ending balance | $ 1,960,691 | $ 1,607,373 | $ 248,732 | |
Ordinary shares [member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | [1] | 52,706,194 | 41,706,428 | |
Own shares acquired | [1] | (144,131) | ||
Shares issued during the year on exercise of share based awards | [1] | 1,137,232 | 873,834 | |
Issue of ordinary shares in placement offer, net of issuance costs | [1] | 5,500,000 | ||
Reissue of own shares on conversion of convertible notes | [1] | 659,939 | ||
Issue of ordinary shares on conversion of convertible notes | [1] | 9,197,089 | ||
Issued in business combination | [1] | 413,035 | ||
Ending balance | [1] | 59,343,426 | 52,706,194 | 41,706,428 |
Ordinary shares [member] | Share Capital [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | [1] | $ 27 | $ 21 | |
Shares issued during the year on exercise of share based awards | [1] | 1 | 1 | |
Issue of ordinary shares in placement offer, net of issuance costs | [1] | 3 | ||
Issue of ordinary shares on conversion of convertible notes | [1] | 5 | ||
Ending balance | [1] | 31 | 27 | $ 21 |
Ordinary shares [member] | Share Premium [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | [1] | 428,600 | 248,732 | |
Shares issued during the year on exercise of share based awards | [1] | 27,462 | 18,275 | |
Issue of ordinary shares in placement offer, net of issuance costs | [1] | 195,514 | ||
Reissue of own shares on conversion of convertible notes | [1] | 999 | ||
Issue of ordinary shares on conversion of convertible notes | [1] | 148,101 | ||
Issued in business combination | [1] | 12,493 | ||
Ending balance | [1] | $ 651,576 | $ 428,600 | $ 248,732 |
Class B Shares [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | [1] | 38,971,539 | ||
Issue of ordinary shares in placement offer, net of issuance costs | [1] | 3,666,667 | ||
Issued in business combination | [1] | 38,971,539 | ||
Ending balance | [1] | 42,638,206 | 38,971,539 | |
Class B Shares [Member] | Share Capital [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | [1] | $ 19 | ||
Issue of ordinary shares in placement offer, net of issuance costs | [1] | 2 | ||
Issued in business combination | [1] | $ 19 | ||
Ending balance | [1] | 21 | 19 | |
Class B Shares [Member] | Share Premium [Member] | ||||
Disclosure of classes of share capital [Line Items] | ||||
Beginning balance | [1] | 1,178,773 | ||
Issue of ordinary shares in placement offer, net of issuance costs | [1] | 130,342 | ||
Issued in business combination | [1] | 1,178,773 | ||
Ending balance | [1] | $ 1,309,115 | $ 1,178,773 | |
[1] | Par value of USD 0.0005 per share |
Capital and Reserves - Sched128
Capital and Reserves - Schedule of Share Capital and Share Premium (Parenthetical) (Details) - $ / shares | Mar. 31, 2017 | Mar. 31, 2016 |
Disclosure Of Classes Of Share Capital [Abstract] | ||
Par value per share | $ 0.0005 | $ 0.0005 |
Capital and Reserves - Addition
Capital and Reserves - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
May 31, 2017 | Jan. 31, 2017 | Oct. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2018 | ||
Disclosure of classes of share capital [Line Items] | |||||||
Number of shares purchased from open market | 144,131 | ||||||
Shares purchased from open market, value | $ 2,050 | $ 11,093 | |||||
Gross proceeds from issue of shares | $ 330,000 | ||||||
Net proceeds from issuance of shares | 325,861 | ||||||
Share issuance cost | $ 4,139 | ||||||
Par value per share | $ 0.0005 | $ 0.0005 | |||||
Class B Shares [Member] | |||||||
Disclosure of classes of share capital [Line Items] | |||||||
Number of shares issued as part of acquisition | [1] | 38,971,539 | |||||
Number of shares issued to existing shareholders | 3,666,667 | ||||||
Stock issued price, per share | $ 36 | ||||||
Par value per share | $ 0.0005 | ||||||
Class B Shares [Member] | Ibibo Group Holdings (Singapore) Pte. Ltd. [Member] | |||||||
Disclosure of classes of share capital [Line Items] | |||||||
Number of shares issued as part of acquisition | 38,971,539 | ||||||
Ordinary shares [member] | |||||||
Disclosure of classes of share capital [Line Items] | |||||||
Number of own shares reissued upon conversion of convertible notes | [1] | 659,939 | |||||
Number of shares issued upon conversion of convertible notes | [1] | 9,197,089 | |||||
Number of shares issued as part of acquisition | [1] | 413,035 | |||||
Number of shares purchased from open market | [1] | 144,131 | |||||
Number of shares issued through private placement offering | 5,500,000 | ||||||
Number of shares issued to existing shareholders | 916,666 | ||||||
Stock issued price, per share | $ 36 | ||||||
Par value per share | $ 0.0005 | ||||||
Ordinary shares [member] | Ibibo Group Holdings (Singapore) Pte. Ltd. [Member] | |||||||
Disclosure of classes of share capital [Line Items] | |||||||
Number of shares issued as part of acquisition | 413,035 | ||||||
Ordinary shares [member] | |||||||
Disclosure of classes of share capital [Line Items] | |||||||
Number of own shares reissued upon conversion of convertible notes | 659,939 | ||||||
Number of shares issued upon conversion of convertible notes | 9,197,089 | ||||||
[1] | Par value of USD 0.0005 per share |
Loss Per Share - Computation of
Loss Per Share - Computation of Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Loss attributable to ordinary shareholders (including Class B shareholders) | $ (218,412) | $ (110,168) | $ (88,518) |
Weighted average number of ordinary shares (including Class B shares) outstanding used in computing basic loss per share | 100,394,080 | 52,607,986 | 41,714,518 |
Weighted average number of ordinary shares (including Class B shares) outstanding used in computing dilutive loss per share | 100,394,080 | 52,607,986 | 41,714,518 |
Basic | $ (2.18) | $ (2.09) | $ (2.12) |
Diluted | $ (2.18) | $ (2.09) | $ (2.12) |
Loss Per Share - Additional inf
Loss Per Share - Additional information (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Employees share based awards were excluded from the diluted weighted average number of ordinary shares calculation | 4,832,824 | 3,319,322 | 2,547,777 |
Ordinary shares issuable on conversion of convertible notes excluded from the diluted weighted average number of ordinary shares calculation | 0 | 5,428,117 | 1,946,604 |
Loans and Borrowings - Summary
Loans and Borrowings - Summary of Interest Bearing Loans and Borrowings Measured At Amortized Cost/Fair Value (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Non-current liabilities | ||
Non-current portion of loans and borrowings | $ 424 | $ 523 |
Current liabilities | ||
Current portion of loans and borrowings | 228 | 226 |
Secured bank loans [Member] | ||
Non-current liabilities | ||
Non-current portion of loans and borrowings | 424 | 523 |
Current liabilities | ||
Current portion of loans and borrowings | $ 228 | $ 226 |
Loans and Borrowings - Addition
Loans and Borrowings - Additional Information (Detail) $ / shares in Units, $ in Thousands | Oct. 18, 2016shares | Oct. 31, 2016shares | Jan. 31, 2016USD ($)Tranch$ / shares | Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($) | Jan. 31, 2017 | |
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Amortization of deferred difference | $ | $ 0 | $ 5,941 | ||||||
Credit facility maximum funding amount | $ | 5,389 | 5,401 | ||||||
Credit facility amount withdrawn | $ | 0 | 0 | ||||||
Motor Vehicles [Member] | ||||||||
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Secured bank loans outstanding | $ | $ 584 | $ 689 | ||||||
Ordinary shares [member] | ||||||||
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Number of own shares reissued upon conversion of convertible notes | shares | 659,939 | |||||||
Number of shares issued upon conversion of convertible notes | shares | 9,197,089 | |||||||
Ibibo Group Holdings Singapore Pte Ltd | ||||||||
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Percentage of voting equity interests acquired | 100.00% | 100.00% | ||||||
Ordinary shares [member] | ||||||||
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Number of own shares reissued upon conversion of convertible notes | shares | [1] | 659,939 | ||||||
Number of shares issued upon conversion of convertible notes | shares | [1] | 9,197,089 | ||||||
Ctrip dot com international limited [Member] | Ordinary shares [member] | ||||||||
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Number of shares issued as part of acquisition | shares | 9,857,028 | |||||||
Number of additional shares issued in business combination | shares | 1,465,420 | |||||||
Ctrip dot com international limited [Member] | Four point two five percentage convertible notes [Member] | ||||||||
Disclosure Of Loans And Borrowings [Line Items] | ||||||||
Convertible notes interest rate | 4.25% | |||||||
Issue of convertible notes | $ | $ 180,000 | |||||||
Number of tranches | Tranch | 2 | |||||||
Convertible note maturity period | 5 years | |||||||
Borrowing costs incurred | $ | $ 2,730 | |||||||
Conversion price per share | $ / shares | $ 21.45 | |||||||
[1] | Par value of USD 0.0005 per share |
Loans and Borrowings - Summa134
Loans and Borrowings - Summary of Fair Value of Liability Component and Derivative (Detail) $ in Thousands | 12 Months Ended |
Mar. 31, 2016USD ($) | |
Disclosure Of Loans And Borrowings [Abstract] | |
Fair value of liability component at inception | $ 133,321 |
Fair value of derivative at inception | 52,912 |
Proceeds from issue of convertible notes | (180,000) |
Deferred difference | $ 6,233 |
Loans and Borrowings - Summa135
Loans and Borrowings - Summary of Carrying Amount of Liability Component (Detail) $ in Thousands | 12 Months Ended |
Mar. 31, 2017USD ($) | |
Disclosure Of Loans And Borrowings [Abstract] | |
Carrying amount of liability at the beginning of the year | $ 134,770 |
Accretion of interest | 8,210 |
Payment of interest | (3,749) |
Conversion of notes during the year | $ (139,231) |
Loans and Borrowings - Summa136
Loans and Borrowings - Summary of Carrying Amount of Derivative (Detail) $ in Thousands | 12 Months Ended |
Mar. 31, 2017USD ($) | |
Disclosure Of Loans And Borrowings [Abstract] | |
Carrying amount of derivative at the beginning of the year | $ 61,929 |
Net gain on change in fair value of derivative | (42,427) |
Conversion of notes during the year | $ (19,502) |
Loans and Borrowings - Schedule
Loans and Borrowings - Schedule of Terms and Conditions of Outstanding Loans (Detail) - INR 1 [Member] - Secured bank loans [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Loans And Borrowings [Line Items] | ||
Year of maturity | 2017 - 2024 | 2017 - 2024 |
Original value | $ 1,079 | $ 1,080 |
Carrying amount | $ 652 | $ 749 |
Bottom of range [Member] | ||
Disclosure Of Loans And Borrowings [Line Items] | ||
Interest rate | 8.00% | 8.00% |
Top of range [Member] | ||
Disclosure Of Loans And Borrowings [Line Items] | ||
Interest rate | 13.00% | 13.00% |
Other Current Liabilities - Sum
Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Other Current Liabilities [Abstract] | ||
Statutory liabilities | $ 11,442 | $ 4,037 |
Deferred rent liabilities | 14 | 13 |
Employee related payables | 5,596 | 5,514 |
Other liabilities | 4 | |
Total | $ 17,052 | $ 9,568 |
Other Non-current Liabilities -
Other Non-current Liabilities - Schedule of Other Non-current Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Other Non Current Liabilities [Abstract] | ||
Deferred rent liabilities | $ 1,617 | $ 1,027 |
Employee related payables | 584 | |
Total | $ 2,201 | $ 1,027 |
Deferred Revenue - Disclosure o
Deferred Revenue - Disclosure of Deferred Revenue (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure of deferred income [Line Items] | ||
Deferred revenue total | $ 1,353 | $ 3,310 |
Deferred revenue | 91 | 265 |
Deferred revenue | 1,262 | 3,045 |
Global Distribution System Provider [Member] | ||
Disclosure of deferred income [Line Items] | ||
Deferred revenue total | 91 | 1,809 |
Loyalty Programme [Member] | ||
Disclosure of deferred income [Line Items] | ||
Deferred revenue total | 937 | 1,032 |
Others [Member] | ||
Disclosure of deferred income [Line Items] | ||
Deferred revenue total | $ 325 | $ 469 |
Employee Benefits - Summary of
Employee Benefits - Summary of Employee Benefits (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Defined Benefit Plans [Abstract] | ||
Net defined benefit asset | $ 229 | |
Total employee benefit asset | 229 | |
Net defined benefit liability | $ 2,458 | 1,594 |
Other long term employee benefit (liability for compensated absences) | 1,263 | 1,352 |
Total employee benefit liabilities | $ 3,721 | $ 2,946 |
Employee Benefits - Summary 142
Employee Benefits - Summary of Employee Benefits (Present Value of Funded Obligation) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Defined Benefit Plans [Abstract] | ||
Present Value of unfunded obligation | $ 2,458 | $ 1,594 |
Total | $ 2,458 | $ 1,594 |
Employee Benefits - Disclosure
Employee Benefits - Disclosure of Reconciliation From Opening Balances to Closing Balances For Net Defined (Asset) Liability and Its Components (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | ||
Balance as at April 1 | $ 1,365 | $ 1,085 |
Acquired through business combination | (223) | |
Included in profit or loss | ||
Current service cost | 546 | 284 |
Past service cost | 236 | |
Interest cost (income) | 86 | 79 |
Included in profit or loss, total | 868 | 363 |
Included in other comprehensive income | ||
-Return on plan assets excluding interest income | (22) | (22) |
Included in other comprehensive income, total | 422 | 266 |
-demographic assumptions | (12) | |
-financial assumptions | (14) | 16 |
-experience adjustment | 458 | 284 |
Effects of movement in exchange rates | (12) | 30 |
Benefits paid | (185) | (156) |
Balance as at March 31 | 2,458 | 1,365 |
Defined Benefit Obligation [Member] | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Balance as at April 1 | 2,236 | 1,085 |
Acquired through business combination | 583 | |
Included in profit or loss | ||
Current service cost | 546 | 284 |
Past service cost | 236 | |
Interest cost (income) | 131 | 85 |
Included in profit or loss, total | 913 | 369 |
Included in other comprehensive income | ||
Included in other comprehensive income, total | 444 | 288 |
-demographic assumptions | (12) | |
-financial assumptions | (14) | 16 |
-experience adjustment | 458 | 284 |
Effects of movement in exchange rates | (13) | 68 |
Benefits paid | (586) | (157) |
Balance as at March 31 | 2,994 | 2,236 |
Fair Value of Plan Assets [Member] | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Balance as at April 1 | (871) | |
Acquired through business combination | (806) | |
Included in profit or loss | ||
Interest cost (income) | (45) | (6) |
Included in profit or loss, total | (45) | (6) |
Included in other comprehensive income | ||
-Return on plan assets excluding interest income | (22) | (22) |
Included in other comprehensive income, total | (22) | (22) |
Effects of movement in exchange rates | 1 | (38) |
Benefits paid | 401 | 1 |
Balance as at March 31 | $ (536) | $ (871) |
Employee Benefits - Disclosu144
Employee Benefits - Disclosure of Reconciliation From Opening Balances to Closing Balances For Net Defined (Asset) Liability and Its Components Represented by Associates (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Net defined benefit (asset)/liability | $ 2,458 | $ 1,365 | $ 1,085 |
MMT India [Member] | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Net defined benefit (asset)/liability | 2,004 | 1,594 | |
GI India [Member] | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Net defined benefit (asset)/liability | $ 454 | $ (229) |
Employee Benefits - Disclosu145
Employee Benefits - Disclosure of Plan Assets (Detail) | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Defined Benefit Plans [Abstract] | ||
Funds managed by the insurer | 100.00% | 100.00% |
Employee Benefits - Summary 146
Employee Benefits - Summary of Actuarial Assumptions (Detail) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | ||
Discount rate (per annum) | 7.10% | 6.70% |
Future salary growth (per annum) | 11.00% | |
Withdrawal rate | 25.00% | 25.00% |
Top of range [Member] | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Future salary growth (per annum) | 11.00% | |
Retirement age (years) | 60 years | 60 years |
Bottom of range [Member] | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Future salary growth (per annum) | 10.00% | |
Retirement age (years) | 58 years | 58 years |
Employee Benefits - Summary 147
Employee Benefits - Summary of Sensitivity Analysis for Actuarial Assumptions (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Abstract] | ||
Discount rate (1% movement) | $ (119) | $ (88) |
Future salary growth (1% movement) | 110 | 80 |
Withdrawal rates (10% movement) | (323) | (200) |
Discount rate (1% movement) | 129 | 95 |
Future salary growth (1% movement) | (106) | (77) |
Withdrawal rates (10% movement) | $ 511 | $ 302 |
Employee Benefits - Summary 148
Employee Benefits - Summary of Sensitivity Analysis for Actuarial Assumptions (Parenthetical) (Detail) | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Abstract] | ||
Percentage of change in discount rate | 1.00% | 1.00% |
Percentage of change in future salary growth | 1.00% | 1.00% |
Percentage of change in withdrawal rate | 10.00% | 10.00% |
Share Based Payment - Additiona
Share Based Payment - Additional Information (Detail) | Jan. 31, 2017sharesyr | Mar. 31, 2018USD ($)sharesmoyr | Mar. 31, 2017USD ($)sharesyr | Mar. 31, 2016USD ($)sharesyr | Mar. 31, 2015USD ($)shares | Mar. 31, 2014shares | Mar. 31, 2010shares |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Weighted average contractual life in years | 3.25 | 1.25 | 2.25 | ||||
Share based payment expense | $ 44,716,000 | $ 26,795,000 | $ 13,685,000 | ||||
Number of RSUs granted with have graded vesting over 2 years and exercisable within a period of 6 months from the date of vesting | shares | 8,400 | ||||||
Number of RSUs granted with expiry of 12 months from the grant date and exercisable within a period of 6 months from the date of vesting | shares | 3,600 | ||||||
Number of RSUs granted with expiry of 24 months from the grant date and exercisable within a period of 6 months from the date of vesting | shares | 4,800 | ||||||
Share based payment expense for options recognized under personnel expenses | 27,714,000 | 14,892,000 | $ 7,688,000 | ||||
Legal and professional | $ 7,894,000 | $ 11,395,000 | $ 3,707,000 | ||||
Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Weighted average contractual life in years | yr | 5.2 | 6.2 | 4.5 | ||||
Number of RSUs granted with 10% on the expiry of 12 months from the grant date | shares | 690,757 | ||||||
Number of RSUs granted with 20% on the expiry of 24 months from the grant date | shares | 3,348,389 | ||||||
Number of RSUs granted with 30% on the expiry of 36 months from the grant date | shares | 936,658 | ||||||
Vesting conditions | Refer notes | Refer notes | Refer notes | ||||
RSU excercised during the year | shares | (1,065,521) | (827,016) | (232,771) | ||||
RSU granted during the year | shares | 690,757 | 4,481,294 | 947,516 | ||||
RSUs outstanding exercise price per share | $ 0.0005 | $ 0.0005 | $ 0.0005 | $ 0.0005 | |||
Share based payment expense for options recognized under personnel expenses | 44,730,000 | 26,620,000 | 13,685,000 | ||||
Legal and professional | $ 144,000 | $ 0 | $ 0 | ||||
Restricted Stock Units [Member] | ibibo Group [Mmeber] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
RSU granted during the year | shares | 1,129,905 | ||||||
Exercised period | yr | 10 | ||||||
Later than one year [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Graded percentage | 10.00% | 10.00% | 10.00% | ||||
RSUs expiry | expiry of 12 months from the grant date | expiry of 12 months from the grant date | expiry of 12 months from the grant date | ||||
1-2 years [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Graded percentage | 20.00% | 20.00% | 20.00% | ||||
RSUs expiry | expiry of 24 months from the grant date | expiry of 24 months from the grant date | expiry of 24 months from the grant date | ||||
Later than two years and not later than three years [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Graded percentage | 30.00% | 30.00% | 30.00% | ||||
RSUs expiry | expiry of 36 months from the grant date | expiry of 36 months from the grant date | expiry of 36 months from the grant date | ||||
Later than three years and not later than four years [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Graded percentage | 40.00% | 40.00% | 40.00% | ||||
RSUs expiry | expiry of 48 months from the grant date | expiry of 48 months from the grant date | expiry of 48 months from the grant date | ||||
Vesting Period Of Four Years [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Vesting conditions | vesting over 4 years | vesting over 4 years | vesting over 4 years | ||||
Fully Vested [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
RSU excercised during the year | shares | 0 | (3,000) | (2,458) | ||||
Bottom of range [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Exercise price per share of options outstanding | $ 0.742 | $ 0.4875 | $ 0.4875 | ||||
Bottom of range [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Weighted average contractual life in years | yr | 4 | 4 | 4 | ||||
Grant date fair value of RSUs | $ 28.75 | $ 14.86 | $ 13.75 | ||||
Top of range [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Exercise price per share of options outstanding | $ 1.9765 | $ 1.9765 | $ 5.057 | ||||
Top of range [Member] | Restricted Stock Units [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Weighted average contractual life in years | yr | 8 | 10 | 8 | ||||
Grant date fair value of RSUs | $ 33.55 | $ 32.70 | $ 21.96 | ||||
MakeMyTrip.com Equity Option Plan [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Options granted | shares | 0 | 0 | 0 | 2,703,810 | |||
Exercise price per share of options outstanding | $ 1.28 | $ 1.14 | $ 1.45 | $ 1.47 | |||
Share based payment expense | $ 0 | $ 0 | $ 0 | ||||
Bona Vita Employees Stock Option Plan 2016 [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Options granted | shares | 11,789 | 25,032 | |||||
Exercise price per share of options outstanding | $ 0.0154 | $ 0.0154 | |||||
Share based payment expense | $ (14,000) | $ 175,000 | |||||
Expected term | yr | 10 | 10 | |||||
Bona Vita Employees Stock Option Plan 2016 [Member] | Vesting Period Of Four Years [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Exercise price per share of options outstanding | $ 0.0154 | $ 0.0154 | |||||
Weighted average contractual life in years | yr | 10.4 | 11.1 | |||||
Vesting conditions | ESOPs have graded vesting over 4 years from the grant date with first vesting date after one year from the grant date. The contractual life of the ESOPs granted under this plan is 10 years from the vesting date. | ||||||
Vesting period | yr | 4 | ||||||
Expected term | yr | 10 | ||||||
Bona Vita Employees Stock Option Plan 2016 [Member] | Bottom of range [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Grant date fair value of RSUs | $ 14.64 | $ 14.68 | |||||
Bona Vita Employees Stock Option Plan 2016 [Member] | Top of range [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||||||
Grant date fair value of RSUs | $ 29.19 |
Share Based Payment - Summary o
Share Based Payment - Summary of Number and Weighted Average Exercise Price of Share Options (Detail) | 12 Months Ended | |||
Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($)shares | Mar. 31, 2010shares | |
Restricted Stock Units [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||||
Number of options outstanding, beginning balance | 6,367,186 | 2,867,713 | 2,330,743 | |
Number of options, granted | 690,757 | 4,481,294 | 947,516 | |
Number of options, Forfeited and expired | (559,023) | (154,805) | (177,775) | |
Number of options, Exercised | (1,065,521) | (827,016) | (232,771) | |
Number of options outstanding, ending balance | 5,433,399 | 6,367,186 | 2,867,713 | |
Number of options, exercisable | 1,313,158 | 1,325,558 | 1,138,321 | |
Weighted average exercise price per share outstanding, beginning balance | $ | $ 0.0005 | $ 0.0005 | $ 0.0005 | |
Weighted average exercise price per share, Granted | $ | 0.0005 | 0.0005 | 0.0005 | |
Weighted average exercise price per share, Forfeited and expired | $ | 0.0005 | 0.0005 | 0.0005 | |
Weighted average exercise price per share, Exercised | $ | 0.0005 | 0.0005 | 0.0005 | |
Weighted average exercise price per share outstanding, ending balance | $ | 0.0005 | 0.0005 | 0.0005 | |
Weighted average exercise price per share, ending balance | $ | 0.0005 | 0.0005 | 0.0005 | |
MakeMyTrip.com Equity Option Plan [Member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||||
Weighted average exercise price per share outstanding, beginning balance | $ | 1.14 | 1.45 | 1.47 | |
Weighted average exercise price per share, Exercised | $ | 0.63 | 3.64 | 5.39 | |
Weighted average exercise price per share outstanding, ending balance | $ | 1.28 | 1.14 | 1.45 | |
Weighted average exercise price per share, ending balance | $ | $ 1.28 | $ 1.14 | $ 1.45 | |
Number of options outstanding, beginning balance | 333,121 | 379,939 | 382,439 | |
Number of options, granted | 0 | 0 | 0 | 2,703,810 |
Number of options, Exercised | (71,711) | (46,818) | (2,500) | |
Number of options outstanding, ending balance | 261,410 | 333,121 | 379,939 | |
Number of options, exercisable | 261,410 | 333,121 | 379,939 |
Share Based Payment - Summar151
Share Based Payment - Summary of Terms and Conditions Relating to Grants under Share Incentive Plan (Detail) | 12 Months Ended | ||
Mar. 31, 2018sharesmoyr | Mar. 31, 2017sharesyr | Mar. 31, 2016sharesyr | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||
Contractual life of RSUs | 3.25 | 1.25 | 2.25 |
Restricted Stock Units [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||
Number of instruments | shares | 690,757 | 4,481,294 | 947,516 |
Vesting conditions | Refer notes | Refer notes | Refer notes |
Contractual life of RSUs | 5.2 | 6.2 | 4.5 |
Bottom of range [Member] | Restricted Stock Units [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||
Contractual life of RSUs | 4 | 4 | 4 |
Top of range [Member] | Restricted Stock Units [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | |||
Contractual life of RSUs | 8 | 10 | 8 |
Share Based Payment - Summar152
Share Based Payment - Summary of Number and Weighted Average Exercise Price of Employee Stock Options under Bona Vita ESOP (Detail) - Bona Vita Employees Stock Option Plan 2016 [Member] | 12 Months Ended | |
Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||
Number of options outstanding, beginning balance | shares | 21,711 | |
Number of options, granted | shares | 11,789 | 25,032 |
Number of options, Forfeited and expired | shares | (11,545) | (3,321) |
Number of options outstanding, ending balance | shares | 21,955 | 21,711 |
Number of options, exercisable | shares | 11,370 | |
Weighted average exercise price per share outstanding, beginning balance | $ 0.0154 | |
Weighted average exercise price per share, Granted | 0.0154 | $ 0.0154 |
Weighted average exercise price per share, Forfeited and expired | 0.0154 | 0.0154 |
Weighted average exercise price per share, Exercised | 0.0154 | |
Weighted average exercise price per share outstanding, ending balance | 0.0154 | $ 0.0154 |
Weighted average exercise price per share, ending balance | $ 0.0154 |
Share Based Payment - Summar153
Share Based Payment - Summary of Measurement Used to Determine Fair Values of Bona Vita ESOP (Detail) - Bona Vita Employees Stock Option Plan 2016 [Member] | 12 Months Ended | |
Mar. 31, 2018USD ($)yr | Mar. 31, 2017USD ($)yr | |
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||
Exercise price (USD) | $ 0.0154 | $ 0.0154 |
Expected term | yr | 10 | 10 |
Bottom of range [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||
Share price at grant date (USD) | $ 14.64 | $ 14.68 |
Fair value at grant date (USD) | $ 14.64 | $ 14.68 |
Expected volatility | 41.67% | 41.67% |
Risk-free interest rate | 7.55% | 7.55% |
Top of range [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [Line Items] | ||
Share price at grant date (USD) | $ 29.19 | |
Fair value at grant date (USD) | $ 29.19 | |
Expected volatility | 43.56% | 43.56% |
Risk-free interest rate | 7.72% | 7.72% |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Trade And Other Payables [Abstract] | ||
Other trade payables | $ 74,814 | $ 36,669 |
Accrued expenses | 43,012 | 42,077 |
Advance from customers | 63,604 | 42,453 |
Advance from vendor | 364 | |
Total | $ 181,430 | $ 121,563 |
Financial Instruments - Summary
Financial Instruments - Summary of Maximum Exposure to Credit Risk (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | $ 465,269 | $ 250,108 | |
Trades and other receivables [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 58,315 | 37,284 | |
Trades and other receivables [Member] | India [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 46,006 | 27,692 | |
Trades and other receivables [Member] | Thailand [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 5,475 | 3,994 | |
Trades and other receivables [Member] | Malaysia [member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 609 | 803 | |
Trades and other receivables [Member] | Singapore [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 1,692 | 2,001 | |
Trades and other receivables [Member] | Netherlands [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 11 | 65 | |
Trades and other receivables [Member] | Others [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 4,522 | 2,729 | |
Other assets [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | [1] | 17,100 | 15,535 |
Term deposits [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 202,335 | 95,673 | |
Cash and cash equivalents [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 187,519 | 101,616 | |
Trade and other receivables and term deposits [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 260,650 | 132,957 | |
Trade and other receivables and term deposits [Member] | Airlines [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 26,365 | 13,556 | |
Trade and other receivables and term deposits [Member] | Retail customers [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 4,092 | 7,047 | |
Trade and other receivables and term deposits [Member] | Corporate customers [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 18,231 | 6,983 | |
Trade and other receivables and term deposits [Member] | Deposit With Hotels And Others [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 6,704 | 7,576 | |
Trade and other receivables and term deposits [Member] | Term deposits with bank [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | 202,335 | 95,673 | |
Trade and other receivables and term deposits [Member] | Others [Member] | |||
Disclosure Of Financial Assets [Line Items] | |||
Maximum credit exposure | $ 2,923 | $ 2,122 | |
[1] | Other assets mainly includes receivable from related party of USD 17,100 (March 31, 2017: USD 15,100) (refer note 23 and 25). The Group does not expect the related party to fail in meeting its obligations. The maximum exposure to credit risk is represented by the carrying amount of this financial asset. |
Financial Instruments - Summ156
Financial Instruments - Summary of Maximum Exposure to Credit Risk (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Assets [Abstract] | ||
Receivable from related party, current | $ 17,100 | |
Receivable from related party, noncurrent | $ 15,100 |
Financial Instruments - Summ157
Financial Instruments - Summary of Age of Trade and Other Receivables and Term Deposits (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables and term deposits, Gross | $ 58,315 | $ 37,284 |
Trade and other receivables and term deposits [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables and term deposits, Gross | 262,229 | 135,501 |
Trade and other receivables and term deposits, Impairment | 1,579 | 2,544 |
Not past due [Member] | Trade and other receivables and term deposits [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables and term deposits, Gross | 245,249 | 124,596 |
Past due 0-30 days [Member] | Trade and other receivables and term deposits [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables and term deposits, Gross | 5,161 | 4,287 |
Past due 30-120 days [Member] | Trade and other receivables and term deposits [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables and term deposits, Gross | 5,968 | 2,919 |
More than 120 days [Member] | Trade and other receivables and term deposits [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Trade and other receivables and term deposits, Gross | 5,851 | 3,699 |
Trade and other receivables and term deposits, Impairment | $ 1,579 | $ 2,544 |
Financial Instruments - Summ158
Financial Instruments - Summary of Movement in Allowance for Doubtful Debts in Respect of Trade and Other Receivables (Detail) - Trade and other receivables [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Assets [Line Items] | ||
Allowance account for credit losses of financial assets at beginning of period | $ 2,544 | $ 1,515 |
Acquisition through business combination | 182 | |
Allowance for doubtful debts | 150 | 973 |
Amounts written off against the allowance | (1,102) | (145) |
Effects of movement in exchange rate | (13) | 19 |
Allowance account for credit losses of financial assets at end of period | $ 1,579 | $ 2,544 |
Financial Instruments - Summ159
Financial Instruments - Summary of Contractual Maturities of Financial Liabilities, Including Estimated Interest Payments and Excluding Impact of Netting Agreements (Detail) - Non-derivative Financial Liabilities [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Assets [Line Items] | ||
Carrying amount | $ 124,658 | $ 85,013 |
Contractual cash flows | (124,882) | (85,154) |
6 months or less [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (123,085) | (84,410) |
6-12 months [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (721) | (142) |
1-2 years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (813) | (262) |
2-5 years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (254) | (337) |
More Than Five Years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (9) | (3) |
Secured bank loans [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Carrying amount | 652 | 749 |
Contractual cash flows | (756) | (890) |
Secured bank loans [Member] | 6 months or less [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (143) | (146) |
Secured bank loans [Member] | 6-12 months [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (136) | (142) |
Secured bank loans [Member] | 1-2 years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (214) | (262) |
Secured bank loans [Member] | 2-5 years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (254) | (337) |
Secured bank loans [Member] | More Than Five Years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (9) | (3) |
Trades and other payables [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Carrying amount | 117,826 | 78,746 |
Contractual cash flows | (117,826) | (78,746) |
Trades and other payables [Member] | 6 months or less [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (117,826) | (78,746) |
Other liabilities [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Carrying amount | 6,180 | 5,518 |
Contractual cash flows | (6,300) | (5,518) |
Other liabilities [Member] | 6 months or less [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (5,116) | $ (5,518) |
Other liabilities [Member] | 6-12 months [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | (585) | |
Other liabilities [Member] | 1-2 years [Member] | ||
Disclosure Of Financial Assets [Line Items] | ||
Contractual cash flows | $ (599) |
Financial Instruments - Summ160
Financial Instruments - Summary of Currency Risk (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Currency risk Between USD and INR [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | $ (86,734) | $ (57,538) |
Currency risk Between EUR and USD [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | (466) | (305) |
Trades and other receivables [Member] | Currency risk Between USD and INR [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | 11,163 | 7,806 |
Trades and other receivables [Member] | Currency risk Between EUR and USD [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | 416 | |
Trades and other payables [Member] | Currency risk Between USD and INR [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | (99,176) | (65,427) |
Trades and other payables [Member] | Currency risk Between EUR and USD [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | (485) | (737) |
Cash and cash equivalents [Member] | Currency risk Between USD and INR [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | 1,279 | 83 |
Cash and cash equivalents [Member] | Currency risk Between EUR and USD [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [Line Items] | ||
Net exposure to foreign currency risk | $ 19 | $ 16 |
Financial Instruments - Summ161
Financial Instruments - Summary of Significant Exchange Rates Applied (Detail) | 12 Months Ended | |||||
Mar. 31, 2018$ / ₨ | Mar. 31, 2018$ / ₨$ / € | Mar. 31, 2017$ / ₨ | Mar. 31, 2017$ / ₨$ / € | Mar. 31, 2018$ / € | Mar. 31, 2017$ / € | |
Foreign Exchange Rates [Abstract] | ||||||
Average exchange rate per unit | 0.0155 | 1.1705 | 0.0149 | 1.0975 | ||
Reporting date rate per unit | 0.0154 | 0.0154 | 0.0154 | 0.0154 | 1.2324 | 1.0682 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
USD [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Strengthening of currency | 10.00% | 10.00% |
Euros [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Strengthening of currency | 10.00% | 10.00% |
USD Against EUR [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Depreciation | 10.00% | 10.00% |
Euro Against USD [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Depreciation | 10.00% | 10.00% |
Other Investments [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Debt Instrument Basis Points | 1.00% | 1.00% |
Financial Instruments - Sensiti
Financial Instruments - Sensitivity Analysis of Exchange Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
10% strengthening of USD against INR [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Effect of exchange rate changes | $ (8,260) | $ (5,480) |
10% strengthening of EUR against USD [Member] | ||
Disclosure of foreign exchange rates [Line Items] | ||
Effect of exchange rate changes | $ (44) | $ (29) |
Financial Instruments - Summ164
Financial Instruments - Summary of Interest-Bearing Financial instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | |
Financial assets | |||
Term deposits | $ 165 | $ 20,162 | |
Interest rate risk [Member] | Fixed interest rate [Member] | |||
Financial assets | |||
Term deposits | 202,335 | 95,673 | |
Term deposits included in Cash and cash equivalents | [1] | 80,157 | 20,006 |
Financial liabilities | |||
Secured bank loans | (652) | (749) | |
Financial assets | $ 281,840 | $ 114,930 | |
[1] | Total cash and cash equivalents: USD 187,647 (March 31, 2017 : USD 101,704) |
Financial Instruments - Summ165
Financial Instruments - Summary of Interest-Bearing Financial instruments (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments By Type Of Interest Rate [Abstract] | ||
Cash and cash equivalents | $ 187,647 | $ 101,704 |
Fianacial Instruments - Summary
Fianacial Instruments - Summary of Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets (Available for sale) | $ 23,171 | $ 20,891 |
Assets carried at amortized cost (Loans and receivables) | 448,396 | 235,096 |
Liabilities carried at amortized cost (Other financial liabilities) | 124,658 | 85,013 |
Carrying amounts [Member] | Secured bank loans [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 652 | 749 |
Carrying amounts [Member] | Trade and other payables [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 117,826 | 78,746 |
Carrying amounts [Member] | Employee related payables [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 6,180 | 5,514 |
Carrying amounts [Member] | Other liabilities {Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 4 | |
Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets (Available for sale) | 23,171 | 20,891 |
Assets carried at amortized cost (Loans and receivables) | 448,396 | 235,096 |
Liabilities carried at amortized cost (Other financial liabilities) | 124,658 | 85,013 |
Fair value [Member] | Secured bank loans [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 652 | 749 |
Fair value [Member] | Trade and other payables [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 117,826 | 78,746 |
Fair value [Member] | Employee related payables [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 6,180 | 5,514 |
Fair value [Member] | Other liabilities {Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Liabilities carried at amortized cost (Other financial liabilities) | 4 | |
Available for Sale Other Investments [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets (Available for sale) | 6,071 | 5,791 |
Available for Sale Other Investments [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets (Available for sale) | 6,071 | 5,791 |
Receivable from Related Party [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets (Available for sale) | 17,100 | 15,100 |
Receivable from Related Party [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets (Available for sale) | 17,100 | 15,100 |
Trade and Other Receivable [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 58,315 | 37,284 |
Trade and Other Receivable [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 58,315 | 37,284 |
Term deposits [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 202,335 | 95,673 |
Term deposits [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 202,335 | 95,673 |
Cash and cash equivalents [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 187,647 | 101,704 |
Cash and cash equivalents [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 187,647 | 101,704 |
Other assets [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 435 | |
Other assets [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | $ 435 | |
Held-To-Maturity Other Investments [Member] | Carrying amounts [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | 99 | |
Held-To-Maturity Other Investments [Member] | Fair value [Member] | ||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | ||
Assets carried at amortized cost (Loans and receivables) | $ 99 |
Financial Instruments - Summ167
Financial Instruments - Summary of Financial Instruments Carried at Fair Value (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Total assets | $ 1,765,456 | $ 1,544,784 |
Level 3 [Member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Other investments | 6,071 | 5,791 |
Receivable from related party | 17,100 | 15,100 |
Total assets | 23,171 | 20,891 |
Fair value [Member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Other investments | 6,071 | 5,791 |
Receivable from related party | 17,100 | 15,100 |
Total assets | $ 23,171 | $ 20,891 |
Financial Instruments - Summ168
Financial Instruments - Summary of Reconciliation Fair Value Measurements in Level 3 of Fair Value Hierarchy (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2017 |
Total gains and losses recognized in: | |||
—(profit) or loss | $ 42,427 | ||
Conversion of notes during the year | (19,502) | ||
Closing balances | $ 206,524 | $ 139,322 | 139,322 |
Acquired through business combination | (223) | ||
Level 3 [Member] | Other Investments [Member] | |||
Disclosure Of Financial Instruments [Line Items] | |||
Opening balances | 5,791 | 6,690 | |
Total gains and losses recognized in: | |||
—other comprehensive income | 280 | (899) | |
Closing balances | 6,071 | 5,791 | 5,791 |
Level 3 [Member] | Receivable from Related Party [Member] | |||
Disclosure Of Financial Instruments [Line Items] | |||
Opening balances | 15,100 | ||
Total gains and losses recognized in: | |||
—other comprehensive income | 2,000 | 90 | |
Closing balances | $ 17,100 | 15,100 | $ 15,100 |
Acquired through business combination | 15,010 | ||
Level 3 [Member] | Separable Embedded Derivative [Member] | |||
Disclosure Of Financial Instruments [Line Items] | |||
Opening balances | 61,929 | ||
Total gains and losses recognized in: | |||
—(profit) or loss | (42,427) | ||
Conversion of notes during the year | $ (19,502) |
Financial Instruments - Summ169
Financial Instruments - Summary of Financial Instruments Measured at Fair Value (Detail) | 12 Months Ended |
Mar. 31, 2018 | |
Other Investments [Member] | |
Disclosure Of Financial Instruments [Line Items] | |
Valuation technique | Discounted cash flows: The valuation model considers the present value of expected free cash flows, discounted using a risk adjusted discount rate. |
Significant unobservable inputs | Forecast annual revenue growth rate : 15% - 137% (March 31, 2017: 22% - 183%) Forecast EBITDA margin: (31%) - 17% (March 31, 2017: (18%) - 39%) Risk adjusted discount rate: 17.0% (March 31, 2017: 19.0%) |
Inter- relationship between significant unobservable inputs and fair value measurement | The estimated fair value would increase (decrease) if : - the annual revenue growth rate were higher (lower) - the EBITDA margin were higher (lower) - the risk adjusted discount rate were lower (higher) |
Receivable from Related Party [Member] | |
Disclosure Of Financial Instruments [Line Items] | |
Valuation technique | Binomial Lattice Model and Discounted Cash Flow method: The valuation model considers the discount rate, expected term, volatility, and equity value. |
Significant unobservable inputs | Risk free rate: 2.5% (March 31, 2017: 1.9%) Volatility : 35.60% (March 31, 2017: 41.40%) Equity value: USD 72,720 (March 31, 2017: USD 71,500) |
Inter- relationship between significant unobservable inputs and fair value measurement | The estimated fair value would increase (decrease) if : • the volatility were lower (higher) • the equity value were higher (lower) |
Financial Instruments - Summ170
Financial Instruments - Summary of Financial Instruments Measured at Fair Value (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Line Items] | |||
Risk adjusted discount rate, Significant unobservable inputs | 17.00% | 19.00% | |
Risk free rate, Significant unobservable inputs | 2.50% | 1.90% | |
Volatility, Significant unobservable inputs | 35.60% | 41.40% | |
Equity value, Significant unobservable inputs | $ 72,720 | $ 71,500 | |
Bottom of range [Member] | |||
Disclosure Of Financial Instruments [Line Items] | |||
Forecast annual revenue growth rate, Significant unobservable inputs | 22.00% | 15.00% | |
Forecast EBITDA margin, Significant unobservable inputs | (18.00%) | (31.00%) | |
Top of range [Member] | |||
Disclosure Of Financial Instruments [Line Items] | |||
Forecast annual revenue growth rate, Significant unobservable inputs | 183.00% | 137.00% | |
Forecast EBITDA margin, Significant unobservable inputs | 39.00% | 17.00% |
Financial Instruments - Summ171
Financial Instruments - Summary of Financial Instruments Not Measured at Fair Value (Detail) | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Other Financial Assets and Liabilities [Member] | |||
Disclosure Of Financial Assets And Financial Liabilities [Line Items] | |||
Valuation technique | [1] | Discounted cash flows | Discounted cash flows |
[1] | other financial liabilities include secured bank loans, trade and other payables and other liabilities. Other financial assets include trade and other receivables, term deposits, cash and cash equivalents and other assets. |
Financial Instruments - Summ172
Financial Instruments - Summary of Sensitivity Analysis For Other Investments (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Abstract] | ||
Annual revenue growth rate, increase in other comprehensive income | $ 364 | $ 195 |
EBITDA Margin, increase in other comprehensive income | 144 | 80 |
Risk adjusted discount rate, increase in other comprehensive income | (624) | (370) |
Annual revenue growth rate, decrease in other comprehensive income | (356) | (191) |
EBITDA Margin, decrease in other comprehensive income | (144) | (80) |
Risk adjusted discount rate, decrease in other comprehensive income | $ 738 | $ 426 |
Financial Instruments - Summ173
Financial Instruments - Summary of Receivable from Related Party (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Instruments [Abstract] | ||
Other comprehensive income increase in volatility | $ (100) | $ (200) |
Other comprehensive income increase in equity value | 700 | 400 |
Other comprehensive income decrease in volatility | 100 | 200 |
Other comprehensive income decrease in equity value | $ (700) | $ (400) |
Operating Leases - Summary of N
Operating Leases - Summary of Non-cancellable Operating Lease Rentals Payables (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Disclosure of operating lease [Line Items] | ||
Total | $ 41,868 | $ 44,842 |
Less Than One Year [Member] | ||
Disclosure of operating lease [Line Items] | ||
Total | 5,072 | 4,825 |
Between One and Five Years [Member] | ||
Disclosure of operating lease [Line Items] | ||
Total | 17,015 | 16,766 |
More Than Five Years [Member] | ||
Disclosure of operating lease [Line Items] | ||
Total | $ 19,781 | $ 23,251 |
Operating Leases - Additional I
Operating Leases - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure of operating lease [Line Items] | |||
Rent expense | $ 7,701 | $ 3,831 | $ 2,949 |
Bottom of range [Member] | |||
Disclosure of operating lease [Line Items] | |||
Operating leases expiration period | 3 years | 3 years | 3 years |
Top of range [Member] | |||
Disclosure of operating lease [Line Items] | |||
Operating leases expiration period | 12 years | 12 years | 12 years |
Capital Commitments - Additiona
Capital Commitments - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Mar. 31, 2017 |
Capital Commitments [Abstract] | ||
Estimated amount of contracts | $ 48 | $ 1,848 |
Related Parties - Summary of Ke
Related Parties - Summary of Key Management Personnel Compensation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Key Management Personnel Compensation [Abstract] | |||
Short-term employee benefits | $ 4,976 | $ 3,142 | $ 2,373 |
Contribution to defined contribution plan | 94 | 108 | 77 |
Share based payment | 27,714 | 14,892 | 7,688 |
Legal and professional | 86 | 150 | 112 |
Total | $ 32,870 | $ 18,292 | $ 10,250 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | May 05, 2017 | Jan. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | May 31, 2017 | Dec. 31, 2016 | Nov. 30, 2015 | Jun. 30, 2015 |
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Proceeds from issuing shares | $ 8,752 | ||||||||
Ashish Kashyap [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Actual severance cost | $ 2,179 | ||||||||
Accrued severance cost | $ 1,656 | ||||||||
Severance cost payable term | two years in equal monthly installments | ||||||||
MTH Internet: SEA. Pte. Ltd [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Net working capital contribution in cash | $ 82,826 | ||||||||
Working capital contributed after adjustment | $ 83,260 | ||||||||
Amount receivable | 434 | ||||||||
MTH Internet: SEA. Pte. Ltd [Member] | Class B Shares [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Number of shares purchased | 3,666,667 | ||||||||
Issue price | $ 36 | ||||||||
Proceeds from issuing shares | $ 132,000 | ||||||||
MTH Internet: SEA. Pte. Ltd [Member] | Other Current Assets [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Fair value of amount receivable from related party | $ 17,100 | ||||||||
MTH Internet: SEA. Pte. Ltd [Member] | Other Non-current Assets [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Fair value of amount receivable from related party | 15,100 | ||||||||
Naspers Limited and Subsidiaries [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Letters of support issued amount | 8,487 | ||||||||
Amount outstanding in respect of bank guarantee | 6,258 | ||||||||
Payment received from related party | 1,252,022 | 140,069 | $ 0 | ||||||
Service fee charged by related party | 14,940 | 1,746 | 0 | ||||||
Hotel room night sold to related party | 2,731 | 692 | 0 | ||||||
Fees and commission paid to related party | 70 | 37 | 0 | ||||||
Reimbursement of expenses to related party | 1 | 40 | 0 | ||||||
Naspers Limited and Subsidiaries [Member] | Air Ticket [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Air tickets procured from related party | 21,567 | 3,227 | 0 | ||||||
Commission earned from related party | 221 | 32 | $ 0 | ||||||
My Guest House Accommodations Private Limited [Member] | Licenses [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Capital work in progress | $ 886 | ||||||||
Simplotel Technologies Private Limited [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Investment in new shares | $ 197 | $ 469 | |||||||
Subscription of new compulsory convertible preference shares for cash consideration | $ 590 | ||||||||
Saaranya Hospitality Technologies Private Limited [Member] | |||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | |||||||||
Cash consideration paid | $ 500 | ||||||||
Percentage of voting equity interests acquired | 38.60% |
Related Parties - Summary of Tr
Related Parties - Summary of Transaction with Entity Providing Key Management Personnel Services (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Key management personnel services | $ 2 | $ 3 | $ 2 |
Consultancy services | $ 22 | 23 | $ 14 |
Management Personnel Services [Member] | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Trade and other payables | $ 3 |
Related Parties - Summary of180
Related Parties - Summary of Transactions With Subsidiary of Entity Having Significant Influence Over the Company (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Subsidiaries of Naspers Limited [Member] | |||
Balance Outstanding | |||
Trade and other receivables | $ 4,879 | $ 3,156 | |
Holiday IQ Pte Ltd and Subsidiaries {Member] | |||
Balance Outstanding | |||
Trade and other receivables | 10 | ||
Transactions | |||
Revenue from air ticketing | 36 | 27 | $ 2 |
Services received | $ 75 | $ 34 | $ 72 |
List of Material Subsidiaries -
List of Material Subsidiaries - Schedule of List of Material Subsidiaries (Detail) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Make My Trip Inc. [Member] | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | MakeMyTrip Inc. | MakeMyTrip Inc. |
Place of Incorporation | Delaware, USA | Delaware, USA |
Ownership interest | 100.00% | 100.00% |
MakeMyTrip (India) Private Limited [Member] | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | MakeMyTrip (India) Private Limited | MakeMyTrip (India) Private Limited |
Place of Incorporation | India | India |
Ownership interest | 100.00% | 100.00% |
Ibibo Group Holdings Singapore Pte Ltd | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | Ibibo Group Holdings (Singapore) Pte. Ltd. | Ibibo Group Holdings (Singapore) Pte. Ltd. |
Place of Incorporation | Singapore | Singapore |
Ownership interest | 100.00% | 100.00% |
Ibibo Group Private Limited [Member] | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | Ibibo Group Private Limited | Ibibo Group Private Limited |
Place of Incorporation | India | India |
Ownership interest | 100.00% | 100.00% |
Luxury Tours & Travel Pte Ltd [Member] | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | Luxury Tours & Travel Pte Ltd | Luxury Tours & Travel Pte Ltd |
Place of Incorporation | Singapore | Singapore |
Ownership interest | 100.00% | 100.00% |
Luxury Tours (Malaysia) Sdn Bhd. [Member] | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | Luxury Tours (Malaysia) Sdn Bhd. | Luxury Tours (Malaysia) Sdn Bhd. |
Place of Incorporation | Malaysia | Malaysia |
Ownership interest | 100.00% | 100.00% |
ITC Bangkok Co. Ltd. [Member] | ||
Disclosure of subsidiaries [Line Items] | ||
Name of entity | ITC Bangkok Co. Ltd. | ITC Bangkok Co. Ltd. |
Place of Incorporation | Thailand | Thailand |
Ownership interest | 100.00% | 100.00% |
Contribution by Non-controll182
Contribution by Non-controlling Interest - Additional Information (Detail) - Contribution by Non-controlling Interest [Member] $ in Thousands | 1 Months Ended |
Aug. 31, 2017USD ($) | |
Bona Vita Techologies Private Limited ("Bona Vita") [Member] | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Issue of equity | $ 5,500 |
Parent Company [Member] | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Issue of equity | 2,500 |
H.I.S Co. Ltd., Japan ("HIS") [Member] | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Issue of equity | $ 3,000 |
Change in Classification - Addi
Change in Classification - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2016 |
Employee related payables [Member] | Other Current Liabilities [Member] | |||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||
Amount reclassified | $ 5,514 | ||
Other Trade Payable [Member] | Advance from Customers [Member] | |||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||
Amount reclassified | $ 1,870 | ||
Employees Welfare Expenses [Member] | Personnel Expense [Member] | |||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||
Amount reclassified | $ 13 | ||
Prepaid Expenses [Member] | Other Non-current Assets [Member] | |||
Disclosure Of Reclassifications Or Changes In Presentation [Line Items] | |||
Amount reclassified | $ 53 |
Contigencies - Additional Infor
Contigencies - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Mar. 31, 2018USD ($) | |
Disclosure Of Contingencies [Abstract] | |
Sum in dispute due to earn out provisions in the share purchase agreement | $ 35,000 |
Quarterly Financial Data (Un185
Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | |||||||||||
Other revenue | $ 19,141 | $ 18,283 | $ 14,321 | $ 16,157 | $ 8,291 | $ 2,857 | $ 1,925 | $ 1,775 | $ 67,902 | $ 14,848 | $ 6,169 |
Total revenue | 157,806 | 172,477 | 152,917 | 192,056 | 120,033 | 123,248 | 83,109 | 121,226 | 675,256 | 447,616 | 336,054 |
Other income | 161 | 174 | 88 | 12 | 64 | 93 | 206 | 435 | 363 | 1,014 | |
Service cost | |||||||||||
Procurement cost of hotel and packages services | 34,989 | 43,730 | 32,271 | 58,357 | 34,945 | 46,703 | 29,913 | 62,358 | 169,347 | 173,919 | 165,264 |
Other cost of providing services | 1,674 | 1,661 | 1,376 | 1,819 | 6,530 | 1,770 | |||||
Personnel expenses | 28,427 | 26,894 | 29,015 | 29,821 | 32,700 | 13,652 | 14,243 | 13,141 | 114,157 | 73,736 | 49,018 |
Marketing and sales promotion expenses | 93,879 | 108,971 | 115,947 | 133,021 | 78,835 | 44,552 | 48,358 | 52,679 | 451,818 | 224,424 | 108,966 |
Other operating expenses | 30,063 | 32,632 | 28,272 | 29,599 | 27,295 | 18,202 | 17,419 | 18,669 | 120,566 | 81,585 | 67,954 |
Depreciation, amortization and impairment | 10,627 | 6,931 | 7,707 | 7,447 | 21,638 | 3,377 | 2,496 | 2,191 | 32,712 | 29,702 | 10,923 |
Result from operating activities | (41,692) | (48,168) | (61,583) | (67,996) | (75,316) | (3,145) | (29,114) | (27,812) | (219,439) | (135,387) | (66,827) |
Profit (Loss) Before tax | (44,031) | (45,432) | (62,271) | (68,415) | (73,084) | 16,608 | (39,350) | (14,284) | (220,149) | (110,110) | (88,387) |
Profit (Loss) for the period | (44,117) | (45,348) | (62,321) | (68,454) | (73,098) | 16,556 | (39,447) | (14,314) | (220,240) | (110,303) | (88,542) |
Air Ticketing [Member] | |||||||||||
Revenue | |||||||||||
Revenue | 45,270 | 40,474 | 40,322 | 41,325 | 32,862 | 38,216 | 23,556 | 23,880 | 167,391 | 118,514 | 78,172 |
Hotels and Packages [Member] | |||||||||||
Revenue | |||||||||||
Revenue | $ 93,395 | $ 113,720 | $ 98,274 | $ 134,574 | $ 78,880 | $ 82,175 | $ 57,628 | $ 95,571 | $ 439,963 | $ 314,254 | $ 251,713 |
Quarterly Financial Data (Un186
Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Parenthetical) (Detail) - Ibibo Group Holdings Singapore Pte Ltd $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Disclosure Of Unaudited Interim Financial Reporting [Line Items] | |
Revenue from acquiree | $ 28,740 |
Profit (loss) for the year | $ 26,470 |