Registration statement pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 |
Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Shell Company Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Title of each class |
Trading Symbol |
Name of each exchange on which registered | ||
American Depositary Shares, each ₹represented by one Equity Share, par value 2 per share |
☒ |
Accelerated Filer |
☐ | ||||
Non-accelerated filer |
☐ |
Emerging growth company |
☐ |
† |
The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. |
U.S. GAAP ☐ |
Other ☐ | |||
International Accounting Standards Board ☒ |
Auditor ID: 0 |
Auditor Name: |
Auditor Location: |
• |
our strategy to finance our operations, including our planned construction and expansion; |
• |
future marketing efforts, advertising campaigns, and promotional efforts; |
• |
future growth and market share projections, including projections regarding developments in technology and the effect of growth on our management and other resources; |
• |
our expectations of the potential impact of the ongoing Coronavirus Disease 2019 (“ COVID-19 |
• |
the effect of facility expansion on our fixed costs; |
• |
our future expansion plans; |
• |
our future acquisition strategy, including plans to acquire or make investments in complementary businesses, technologies, services or products, or enter into strategic partnerships with parties who can provide access to those assets; |
• |
the future impact of our acquisitions; |
• |
our strategy and intentions regarding new product branding; |
• |
the future competitive landscape and the effects of different pricing strategies; |
• |
the effect of current tax laws, including the branch profit tax; |
• |
the effect of future tax laws on our business; |
• |
the outcome of any legal proceeding, hearing, or dispute (including tax hearings) and the resulting effects on our business; |
• |
our ability to implement and maintain effective internal control over financial reporting; |
• |
projections that the legal proceedings and claims that have arisen in the ordinary course of our business will not have a material and adverse effect on the results of operations or the financial position of the Company; |
• |
expectations of future dividend payout or other corporate actions such as a buyback, bonus issue, etc.; |
• |
projections that our cash and cash equivalent along with cash generated from operations will be sufficient to meet our working capital requirements and certain of our obligations; |
• |
our compensation strategy; |
• |
projections regarding currency transactions, including the effect of exchange rates on the Indian rupee and the U.S. dollar; |
• |
the nature of our revenue streams, including the portion of our IT Services revenue generated from a limited number of corporate clients; |
• |
the effect of a strategically located network of software development centers, and whether it will provide us with cost advantages; |
• |
our ability to anticipate and develop new services and enhance existing services in order to keep pace with rapid changes in technology; |
• |
projections regarding future economic policy, legislation, foreign investment, currency exchange and other policy matters that may affect our business; |
• |
the nature and flexibility of our business model; |
• |
expectations as to our future revenue, margins, expenses and capital requirements; and |
• |
our exposure to market risks. |
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Item 19. |
177 |
Item 1. |
Identity of Directors, Senior Management and Advisers |
Item 2. |
Offer Statistics and Expected Timetable |
Item 3. |
Key Information |
• | Our revenues and expenses are difficult to predict because they can fluctuate significantly given the nature of the markets in which we operate. |
• | Our revenue depends to a large extent on a limited number of clients, and our revenue could decline if we lose a major client. |
• | Our revenue and operating results may be affected by the rate of growth in the use of technology in business and the type and level of technology spending by our clients. |
• | If our clients are unable to pay our dues and receivables, our results of operations and cash flows could be adversely affected. |
• | Our revenues are highly dependent on clients primarily located in the Americas (including the United States) and Europe, as well as on clients concentrated in certain industries; therefore, an economic slowdown or factors that affect the economic health of the United States, Europe or these industries would adversely affect our business. |
• | Restrictive changes to immigration laws may hamper our growth and cause our revenue to decline. |
• | We may be subject to litigation and be required to pay damages for deficient services or for violating intellectual property rights, data breach or breach of confidentiality. |
• | Some of our long-term client contracts contain benchmarking and most favored customer provisions which, if triggered, could result in lower contractual revenues and profitability in the future. |
• | Our work with government clients exposes us to additional risks inherent in the government contracting environment. |
• | Many of our client contracts can be terminated without cause, with little or no notice and without termination charges, which could negatively impact our revenue and profitability. |
• | Cyber-attacks and other security incidents, both real and perceived, impacting the confidentiality and integrity of our information technology and digital infrastructure could lead to loss of reputation and financial obligations. |
• | Adverse changes to our relationships with key alliance partners could adversely affect our revenues and results of operations. |
• | Our business will suffer if we fail to anticipate and develop new services and enhance existing services in order to keep pace with rapid changes in technology and the industries on which we focus. |
• | We are making substantial investments in new facilities and physical infrastructures, and our profitability could be reduced if our business does not grow proportionately. |
• | We may invest in companies for strategic reasons that may not be successful or meet our expectations. |
• | We may engage in future acquisitions that may not be successful or meet our expectations. |
• | If our pricing structures do not accurately anticipate the cost, complexity and duration of our work, then our contracts could be unprofitable. |
• | Wage increases in India or our inability to hire in low cost locations may diminish our competitive advantage against companies located in the United States and Europe and may reduce our profit margins. |
• | We may incur substantial costs for environmental regulatory compliance and other social and governance initiatives. |
• | Our profitability could suffer if we are unable to continue to successfully manage our costs. |
• | Our success depends in large part upon the strength of our management team and other highly skilled professionals. If we fail to attract, retain and manage transition of these personnel, our business may be unable to grow and our revenue could decline. |
• | the size, complexity, timing, pricing terms and profitability of significant projects, as well as changes in the corporate decision-making process of our clients; |
• | increased pricing pressure from our competitors; |
• | our ability to increase sales of our services to new customers and expand sales to our existing customers; |
• | industry consolidation leading to stronger competitors that are able to compete better; |
• | competitors being more established in certain markets, making our geographic expansion strategy in those markets more challenging; |
• | the proportion of services we perform at our clients’ sites rather than at our offshore facilities; |
• | seasonal changes that affect the mix of services we provide to our clients or the relative proportion of services and product revenue; |
• | seasonal changes that affect purchasing patterns among our customers of servers, communication devices and other products; |
• | our expectations regarding the potential and continuing impacts on our business of the COVID-19 pandemic; |
• | unanticipated cancellations, contract terminations or deferral of projects or those occurring as a result of our clients reorganizing their operations; |
• | our ability to accurately forecast our client’s demand patterns to ensure the availability of trained employees to satisfy such demand; |
• | the effect of increased wage pressure in India and other locations and the time we require to train and productively utilize our new employees; |
• | our ability to generate historical levels of yield on our investments; and |
• | our ability to identify and acquire new businesses. |
• | the duration of tax holidays or exemptions and the availability of other Indian Government incentives; |
• | currency exchange fluctuations, specifically movement of the Indian Rupee against the U.S. Dollar, the Pound Sterling, the Euro, the Canadian Dollar and the Australian Dollar, as significant portion of our revenues are in these currencies; |
• | political uncertainties, changes in regulations, or other economic factors, including the economic conditions, in India, the United States, the United Kingdom, the European Union, Middle East and other geographies in which we operate; |
• | uncertain or changing economic conditions particular to a business segment or to particular customer markets within that segment; and |
• | increase in cost of operations in countries that we operate in on account of changes in minimum wage regulations. |
• | Government entities often reserve the right to audit our contract costs, including allocated indirect costs, and conduct inquiries and investigations of our business practices with respect to our government contracts. If the client finds that the costs are not chargeable, then we will not be allowed to bill for them, or the cost must be refunded to the client if it has already been paid to us. Findings from an audit may also result in prospective adjustments of previously agreed upon rates for our work and may affect our future margins. |
• | If a government client discovers improper or illegal activities in the course of audits or investigations, we may become subject to various civil and criminal penalties and administrative sanctions, which may include termination of contracts, forfeiture of profits, suspension of payments, fines and suspensions or unilateral debarment from doing business with other agencies of that government. The inherent limitations of internal controls may not prevent or detect all improper or illegal activities, regardless of their adequacy, and therefore we can only mitigate, and not eliminate, this risk. |
• | Government contracts are often subject to more extensive scrutiny and publicity than contracts with commercial clients. Negative publicity related to our government contracts, regardless of its accuracy, may further damage our business by affecting our ability to compete for new contracts among commercial and governmental entities. |
• | Political and economic factors such as pending elections, changes in leadership among key governmental decision makers, revisions to governmental tax policies, reduced tax revenues and public health crises, such as COVID-19, can affect the number and terms of new government contracts signed. |
• | Terms and conditions of government contracts tend to be more onerous and are often more difficult to negotiate than those for commercial contracts. |
• | Government contracts may not include a cap on direct or consequential damages, which could cause additional risk and expense in these contracts. |
• | Agreements with government clients may be subject to periodic funding approval. Funding reductions or delays could adversely impact public sector demand for our offerings. |
• | Participation in government contracts could subject us to stricter regulatory requirements, which may increase our cost of compliance. |
• | Delays in acceptances of delivery milestones or release of payments could adversely affect our cashflows. |
• | the business or financial condition of our clients or the economy generally; |
• | a change in strategic priorities, resulting in a reduced level of IT spending; |
• | a demand for price reductions; |
• | a change in outsourcing strategy such as moving to client in-house IT departments or to our competitors; and |
• | consolidation of IT spending by our clients, whether arising out of mergers and acquisitions, or otherwise. |
• | recruiting, training and retaining sufficiently skilled technical, marketing and management personnel; |
• | maintaining an effective internal control system and properly educating and training employees to mitigate the risk of individuals engaging in unlawful or fraudulent activity or otherwise exposing us to unacceptable business risks; |
• | maintaining our high standards of service and high levels of client satisfaction; |
• | developing and improving our internal administrative infrastructure, particularly our financial, operational, communications and other internal systems including data management in our IT applications and Management Information Systems, and transitioning from historical systems to new or improved infrastructure that may require additional resources and efforts to implement, troubleshoot or otherwise integrate into existing processes and procedures; |
• | preserving our culture, values and entrepreneurial environment; |
• | assimilating and integrating disparate IT systems, personnel and employment practices, our culture and values, and operations of acquired companies; and |
• | managing our procurement, supply chain and vendor management processes. |
• | if the transaction consideration is paid in cash, up to 400% of the net worth of the acquiring company as per its latest audited financial statement; or |
• | if the acquisition is funded with cash from the acquiring company’s existing foreign currency accounts or with cash proceeds from the issue of ADRs, Global Depositary Receipts, External Commercial Borrowings or Foreign Currency Convertible Bonds. |
• | Be passionate about clients’ success; |
• | Treat each person with respect; |
• | Be global and responsible; and |
• | Have unyielding integrity in everything we do. |
• | Being respectful; |
• | Being responsive; |
• | Always communicating; |
• | Demonstrating stewardship; and |
• | Building trust. |
• | Capco and its subsidiaries (“ Capco |
• | Ampion Holdings Pty Ltd and its subsidiaries (“ Ampion |
• | Edgile, LLC (“ Edgile |
• | LeanSwift Solutions Inc. and its subsidiaries (“ LeanSwift |
• | Eximius Design, LLC and Eximius Design India Private Limited, a leading engineering services company with expertise in semiconductor, software and systems design; |
• | Encore Theme Technologies Private Limited, a Finastra trade finance solutions partner across the Middle East, Africa, India and Asia Pacific; |
• | 4C NV and its subsidiaries, a Salesforce multi-cloud partner in Europe, U.K. and the Middle East; |
• | IVIA Serviços de Informática Ltda., a specialized IT services provider to financial services, retail and manufacturing sectors in Brazil; |
• | Rational Interaction, a full-service digital customer experience solutions firm that brings the strategic capabilities of a consultancy together with the creative and digital prowess of an agency; |
• | International TechneGroup Incorporated, a global digital engineering and manufacturing solutions company and a world leader in computer aided design and product lifecycle management interoperability software services. |
• | be a trusted partner to our clients in their transformation journey and enable them in achieving leadership in their respective industries; |
• | deliver value to our clients as part of their transformation journey through sector focused ‘Business Solutions’, ‘Digital’ and ‘Technology’ capabilities, cutting edge innovation, leveraging our strategic partnerships and our world class talent; and |
• | stay resolute in our commitment to the societies and communities in which we live and work. |
1. |
Accelerate growth – focus and scale |
2. |
Strengthen clients and partnerships |
3. |
Lead with business solutions |
4. |
Building talent at Scale |
5. |
Simplified operating model |
• | The Americas 1 and Americas 2 SMUs are structured by sectors; and |
• | The Europe and APMEA SMUs are structured by countries, with dedicated focus on identified sectors. |
• | iDEAS, comprising of Integrated Digital, Engineering and Application Services; and |
• | iCORE, which is Infra Cloud, Operations, and Risk and Enterprise Cybersecurity. |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
( ₹ in millions) |
||||||||||||
IT Services |
593,798 | 605,815 | 781,824 | |||||||||
IT Products |
11,657 | 7,685 | 6,173 | |||||||||
ISRE |
7,950 | 8,912 | 7,295 | |||||||||
Reconciling items |
(4 | ) | 13 | (3 | ) | |||||||
|
|
|
|
|
|
|||||||
613,401 |
622,425 |
795,289 |
||||||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
( ₹ in millions) |
||||||||||||
India |
29,374 | 27,156 | 25,939 | |||||||||
United States of America |
338,490 | 336,009 | 427,021 | |||||||||
United Kingdom |
65,258 | 67,852 | 101,437 | |||||||||
Rest of the world |
180,279 | 191,408 | 240,892 | |||||||||
|
|
|
|
|
|
|||||||
613,401 |
622,425 |
795,289 |
||||||||||
|
|
|
|
|
|
• | Cloud Transformation & NextGen Platforms |
• | Wipro Engineering |
• | Wipro Digital DX |
• | Designit: design-led transformation solutions that better connect brands, organizations, and businesses to their end customers through a global team of researchers, analysts and design visionaries. |
• | Industry Domain and Consulting |
• | Applications and Data |
• | Cloud Infrastructure Services CIS |
• | Cybersecurity and Risk Services CRS next-gen cybersecurity offering that seamlessly integrates the business needs of today with the future needs of tomorrow. Our CyberSecurists help customers achieve a resilient cyber future through advisory-led security and risk management solutions. For us, cyber defense is not just proposals and promises, or simply keystrokes and code. It is pure, cutting-edge security in action delivered with genuine expertise. |
• | Digital Operations and Platforms DOP |
Number of clients in |
||||||||||||
Per client revenue (US$) |
Year ended March 31, 2020 |
Year ended March 31, 2021 |
Year ended March 31, 2022 |
|||||||||
1-3 million |
233 | 217 | 269 | |||||||||
3-5 million |
81 | 92 | 113 | |||||||||
5-50 million |
220 | 217 | 247 | |||||||||
50-100 million |
25 | 29 | 31 | |||||||||
> 100 million |
15 | 11 | 19 | |||||||||
|
|
|
|
|
|
|||||||
Total > 1 million |
574 |
566 |
679 |
|||||||||
|
|
|
|
|
|
• | Strengthening relationships |
• | Unrelenting focus on our clients’ ambitions |
• | Simplified sales model |
• | Large deals expertise |
1. | Our ability to orchestrate value for our clients by stitching together industry knowledge, technology expertise, and ecosystem capabilities to solve complex problems faced by our clients. |
2. | A comprehensive and integrated suite of business solutions powered by leading-edge technologies like Wipro FullStride cloud services, cybersecurity, data and AI, and engineering and research and development. |
3. | Our portfolio of industry-specific business solutions such as digital bank of the future, Open Subsurface Data Universe platform for oil and gas, and core modernization for a telecom company for faster 5G deployment. |
4. | Our investments in developing intellectual property (“ IP TM , Wipro virtuadeskTM , etc. that enable us to deliver enormous efficiency and time-to-market |
5. | Crowdsourcing (“ Topcoder QaaS TaaS |
6. | A global delivery model, enabled by our “4M” framework – which is Model, Method, Machinery and Mindset. Model is about driving global, distributed, and boundary-less ways of working; Method is about agile and no-shore; Machinery is about leveraging our AI and automation assets; and Mindset is about problem discovery, customer intimacy, and constant learning. |
7. | Our bold and high-performance culture fueled by our Five Habits and our focus on upskilling / reskilling helps us nurture diverse ideas and teams, as well as attract and retain best talent across key markets. |
8. | Our emphasis on acquiring companies with new age technologies and integrating them with our service offerings, to maximize synergies for our clients. |
9. | We are a relationship-oriented, customer-centric, and an easy-to-do-business-with go-to-market |
10. | We are a purpose-led business that is recognized globally for high ethical standards, strong corporate governance, and an unwavering commitment to sustainability. We nurture inclusivity as an intrinsic part of Wipro’s culture. Our deep resolve to improve the communities we live and work in, is appreciated by our customers, investors, analysts, and employees. |
• | Americas 1 includes the entire business of Latin America (“ LATAM |
• | Americas 2 includes the entire business of Canada and the following industry sectors in the U.S.: banking, financial services and insurance, manufacturing, hi-tech, energy and utilities. |
• | Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Benelux, the Nordics and Southern Europe. |
• | APMEA consists of Australia and New Zealand, India, the Middle East, South East Asia, Japan and Africa. |
1. | Our decades of experience in serving in the IT business, proven track record of delivery excellence and satisfied customers who recommend our services to other corporations. |
2. | Our deep understanding of the market especially in India. |
3. | Our trusted ability to provide impartial advice on selection of products. |
4. | The Wipro brand that is recognized for serving the Indian market over seventy-five years. |
5. | Our commitment to environmental sustainability as well as deep engagement with communities. |
1. | Our deep technology knowledge and domain expertise specifically in BFSI and ENU. |
2. | Our strong partnership with key alliance partners including hardware and software partners. |
3. | Significant experience in successfully delivering key marquee programs and strong reference across the ISRE sector. |
(a) | improving the energy efficiency of our facilities for a sustained reduction in energy consumption; |
(b) | increasing the use of renewable energy in our owned facilities in India through private power purchase agreements and captive solar power; and |
(c) | combining behavioral, technological and collaborative approaches that help reduce the carbon footprint of air travel, commuting and purchased goods and services. |
Item 5. |
Operating and Financial Review and Prospects |
• | Capco, a global management and technology consultancy company providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific; |
• | Ampion, a provider of cyber security, DevOps and quality engineering services; |
• | Edgile, a transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security and digital identity; |
• | LeanSwift, a system integrator of Infor Products whose service capabilities include enterprise resource planning, e-commerce, digital transformation, supply chain, warehouse management systems, business intelligence and integrations; |
• | Eximius Design, LLC and Eximius Design India Private Limited, a leading engineering services company with strong expertise in semiconductor, software and systems design; |
• | Encore Theme Technologies Private Limited, a Finastra trade finance solutions partner across the Middle East, Africa, India and Asia Pacific; |
• | 4C NV and its subsidiaries, a Salesforce multi-cloud partner in Europe, U.K., and the Middle East, helping companies unlock commercial value and achieve business transformation by consistently putting customers first; |
• | IVIA Serviços de Informática Ltda., is a company specialized in information technology that develops solutions to improve and expand the business of its customers, either by reducing costs, increasing productivity or generating innovation; |
• | Rational Interaction, a full-service digital customer experience solutions firm that brings the strategic capabilities of a consultancy together with the creative and digital prowess of an agency; |
• | International TechneGroup Incorporated, a global digital engineering and manufacturing solutions company and a world leader in computer aided design and product lifecycle management interoperability software services. |
• | Annual increases in salaries, progressions and bonuses, and strong demand for digital and other niche skills are expected to result in wage inflation; |
• | Increased hiring and training costs due to higher attrition rates; |
• | Discretionary spending relating to travel, facilities and marketing spends gradually scaling back; |
• | Limited ability of the market to accept increase in prices for our offerings to fully offset incremental costs; |
• | Investment in acquisitions with onsite capabilities which can potentially contribute lower margins; |
• | The impact of exchange rate fluctuations on our Indian Rupee realizations; |
• | Investment in domain architects, deep subject matter experts and diversified local leadership; |
• | Increase in onshore effort mix as customers return to office; |
• | Loss of revenue due to vendor consolidation or insourcing at the customer end; and |
• | Lower utilization rates for our resources, arising from reduction in demand for our services from customers or contract terminations. |
• | Pyramid structure by increasing hiring from university campuses as a core aspect of our margin management; |
• | Better price realization to combat current inflationary environment; |
• | Differentiating our offerings by providing premium services across the Digital value-chain, including consulting and advisory, strategy, design, Wipro FullStride cloud services and connected offerings; |
• | Emphasizing a hybrid delivery model to retain the utilization of our IT professionals; |
• | Aligning our resources to expected demand and pivoting ourselves to meet new opportunities; |
• | Using next-generation technology-led business process services like Wipro HOLMESTM to drive superior customer experience and maximize returns and bring down operating costs; |
• | Driving revenue and cost synergies of acquired businesses; and |
• | Investing in non-linearity through our IP portfolio that de-link the linear relationship between revenue and efforts expended. |
Wipro Limited and subsidiaries |
||||||||||||
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions, except earnings per share data) |
||||||||||||
Revenue (1) |
622,425 | 795,289 | 27.77 | % | ||||||||
Cost of revenue |
(423,205 | ) | (555,872 | ) | 31.35 | % | ||||||
Gross profit |
199,220 | 239,417 | 20.18 | % | ||||||||
Selling and marketing expenses |
(41,400 | ) | (54,935 | ) | 32.69 | % | ||||||
General and administrative expenses |
(34,686 | ) | (46,382 | ) | 33.72 | % | ||||||
Other operating income/(loss), net (2) |
(81 | ) | 2,186 | 2798.77 | % | |||||||
Operating income |
123,053 | 140,286 | 14.00 | % | ||||||||
Profit attributable to equity holders |
107,946 | 122,191 | 13.20 | % | ||||||||
As a percentage of revenue: |
||||||||||||
Selling and marketing expenses |
6.65 | % | 6.91 | % | 26bps | |||||||
General and administrative expenses |
5.57 | % | 5.83 | % | 26bps | |||||||
Gross margins (3) |
32.01 | % | 30.02 | % | (199)bps | |||||||
Operating margin (3) |
19.77 | % | 17.59 | % | (218)bps | |||||||
Earnings per share |
||||||||||||
Basic |
19.11 | 22.35 | ||||||||||
Diluted |
19.07 | 22.29 |
(1) | For segment reporting, we have included the impact of exchange rate fluctuations in revenue. Excluding the impact of exchange rate fluctuations, revenue, as reported in our statement of income, is ₹ ₹ |
(2) | Other operating income/(loss), net represents: |
(i) | For the year ended March 31, 2021, change in fair value of the callable units upon partial achievement of cumulative business targets pertaining to the sale of our hosted data center services business. |
(ii) | For the year ended March 31, 2022, (a) ₹ ₹ |
(3) | Gross margin and operating margin as a percentage of revenue have been calculated by including Other operating income/(loss), net with Revenue. |
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions) |
||||||||||||
Revenue: |
||||||||||||
IT Services |
605,815 | 781,824 | 29.05% | |||||||||
IT Products |
7,685 | 6,173 | (19.67)% | |||||||||
ISRE |
8,912 | 7,295 | (18.14)% | |||||||||
Reconciling items |
13 | (3 | ) | (123.08)% | ||||||||
|
|
|
|
|
|
|||||||
622,425 |
795,289 |
27.77% |
||||||||||
|
|
|
|
|
|
|||||||
Segments results: |
||||||||||||
IT Services |
122,850 | 139,078 | 13.21% | |||||||||
IT Products |
45 | 115 | 155.56% | |||||||||
ISRE |
1,061 | 1,173 | 10.56% | |||||||||
Reconciling items |
(903 | ) | (80 | ) | 91.14% | |||||||
|
|
|
|
|
|
|||||||
123,053 |
140,286 |
14.00% |
||||||||||
|
|
|
|
|
|
Percentage of revenues |
||||||||
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
United States of America |
54 | % | 54 | % | ||||
United Kingdom |
11 | % | 13 | % | ||||
India |
4 | % | 3 | % | ||||
Rest of the world |
31 | % | 30 | % |
Year ended March 31, |
Year on Year change |
|||||||||||||||
Cost of revenues |
2021 |
2022 |
2022-21 |
2022-21 |
||||||||||||
( ₹ in millions) |
( ₹ in millions) |
|||||||||||||||
Employee Compensation |
282,983 | 382,446 | 99,463 | 35.15% | ||||||||||||
Cost of hardware and software |
7,684 | 6,431 | (1,253 | ) | (16.31)% | |||||||||||
Sub-contracting and technical fees |
82,470 | 106,580 | 24,110 | 29.23% | ||||||||||||
Travel |
4,731 | 6,403 | 1,672 | 35.34% | ||||||||||||
Depreciation, amortization and impairment |
18,900 | 20,980 | 2,080 | 11.01% | ||||||||||||
Facility expenses |
18,386 | 23,021 | 4,635 | 25.21% | ||||||||||||
Communication |
4,546 | 4,250 | (296 | ) | (6.51)% | |||||||||||
Others |
3,505 | 5,761 | 2,256 | 64.37% | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
423,205 |
555,872 |
132,667 |
31.35% |
|||||||||||||
|
|
|
|
|
|
|
|
Year ended March 31, |
Year on Year change |
|||||||||||||||
Selling and marketing expenses |
2021 |
2022 |
2022-21 |
2022-21 |
||||||||||||
( ₹ in millions) |
( ₹ in millions) |
|||||||||||||||
Employee Compensation |
31,236 | 41,339 | 10,103 | 32.34% | ||||||||||||
Travel |
209 | 454 | 245 | 117.22% | ||||||||||||
Depreciation, amortization and impairment |
6,798 | 8,309 | 1,511 | 22.23% | ||||||||||||
Facility expenses |
593 | 566 | (27 | ) | (4.55)% | |||||||||||
Communication |
382 | 438 | 56 | 14.66% | ||||||||||||
Marketing and brand building |
1,011 | 2,010 | 999 | 98.81% | ||||||||||||
Others |
1,171 | 1,819 | 648 | 55.34% | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
41,400 |
54,935 |
13,535 |
32.69% |
|||||||||||||
|
|
|
|
|
|
|
|
Year ended March 31, |
Year on Year change |
|||||||||||||||
General and administrative expenses |
2021 |
2022 |
2022-21 |
2022-21 |
||||||||||||
( ₹ in millions) |
( ₹ in millions) |
|||||||||||||||
Employee Compensation |
18,152 | 26,290 | 8,138 | 44.83% | ||||||||||||
Travel |
318 | 463 | 145 | 45.60% | ||||||||||||
Facility expenses |
1,276 | 1,682 | 406 | 31.82% | ||||||||||||
Legal and professional fees |
4,817 | 6,606 | 1,789 | 37.14% | ||||||||||||
Lifetime expected credit loss/ (write-back) |
1,506 | (797 | ) | (2,303 | ) | (152.92)% | ||||||||||
Staff recruitment expenses |
1,970 | 6,475 | 4,505 | 228.68% | ||||||||||||
Others |
6,647 | 5,663 | (984 | ) | (14.80)% | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
34,686 |
46,382 |
11,696 |
33.72% |
|||||||||||||
|
|
|
|
|
|
|
|
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions) |
||||||||||||
Revenue: |
||||||||||||
IT Services Strategic Market Units |
||||||||||||
Americas 1 |
178,091 | 217,874 | 22.34% | |||||||||
Americas 2 |
179,821 | 239,404 | 33.13% | |||||||||
Europe |
165,441 | 233,443 | 41.10% | |||||||||
APMEA |
82,462 | 91,103 | 10.48% | |||||||||
|
|
|
|
|
|
|||||||
605,815 |
781,824 |
29.05% |
||||||||||
|
|
|
|
|
|
|||||||
Segments Result: |
||||||||||||
IT Services Strategic Market Units |
||||||||||||
Americas 1 |
33,040 | 42,820 | 29.60% | |||||||||
Americas 2 |
41,589 | 47,376 | 13.91% | |||||||||
Europe |
31,673 | 35,739 | 12.84% | |||||||||
APMEA |
11,476 | 10,523 | (8.30)% | |||||||||
Unallocated |
5,153 | 434 | (91.58)% | |||||||||
Other operating income/(loss), net |
(81 | ) | 2,186 | 2798.77% | ||||||||
|
|
|
|
|
|
|||||||
122,850 |
139,078 |
13.21% |
||||||||||
|
|
|
|
|
|
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions) |
||||||||||||
Revenue (1) |
605,815 | 781,824 | 29.05 | % | ||||||||
Cost of revenue |
(408,411 | ) | (543,425 | ) | 33.06 | % | ||||||
Gross profit |
197,404 | 238,399 | 20.77 | % | ||||||||
Selling and marketing expenses |
(40,985 | ) | (54,688 | ) | 33.43 | % | ||||||
General and administrative expenses |
(33,488 | ) | (46,819 | ) | 39.81 | % | ||||||
Other operating income/(loss), net |
(81 | ) | 2,186 | 2798.77 | % | |||||||
Segment results (2) |
122,850 | 139,078 | 13.21 | % | ||||||||
As a percentage of revenue: |
||||||||||||
Selling and marketing expenses |
6.77 | % | 6.99 | % | 22 | bps | ||||||
General and administrative expenses |
5.53 | % | 5.99 | % | 46 | bps | ||||||
Gross margins (3) |
32.59 | % | 30.41 | % | (218) | bps | ||||||
Segment results (3) |
20.28 | % | 17.74 | % | (254) | bps |
(1) | For the purpose of segment reporting, we have included the impact of exchange rate fluctuations amounting to ₹ ₹ |
(2) | Includes other operating income of ₹ ₹ |
(3) | Gross margin and segment results as a percentage of revenue have been calculated by including Other operating income/(loss), net with Segment Revenue. |
Year ended March 31, |
||||||||||||||||
2021 |
2022 |
|||||||||||||||
Percentage of revenues |
Percentage of Segment results |
Percentage of revenues |
Percentage of Segment results |
|||||||||||||
Strategic Market Units |
||||||||||||||||
Americas 1 |
29.4 | % | 26.9 | % | 27.9 | % | 30.8 | % | ||||||||
Americas 2 |
29.7 | % | 33.9 | % | 30.6 | % | 34.1 | % | ||||||||
Europe |
27.3 | % | 25.8 | % | 29.9 | % | 25.7 | % | ||||||||
APMEA |
13.6 | % | 9.3 | % | 11.6 | % | 7.5 | % | ||||||||
Unallocated |
NA | 4.2 | % | NA | 0.3 | % | ||||||||||
Other operating income/(loss), net |
NA | (0.1 | )% | NA | 1.6 | % |
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
Sector |
||||||||
Banking, Financial Services and Insurance |
30.7 | % | 34.7 | % | ||||
Consumer |
16.4 | % | 17.5 | % | ||||
Health |
13.5 | % | 11.7 | % | ||||
Energy, Natural Resources and Utilities |
13.1 | % | 12.2 | % | ||||
Technology |
13.0 | % | 12.1 | % | ||||
Manufacturing |
8.1 | % | 6.8 | % | ||||
Communications |
5.2 | % | 5.0 | % |
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions) |
||||||||||||
Revenue (1) |
7,685 | 6,173 | (19.67 | )% | ||||||||
Cost of revenue |
(7,465 | ) | (6,279 | ) | (15.89 | )% | ||||||
Gross profit |
220 | (106 | ) | (148.18 | )% | |||||||
Selling and marketing expenses |
(109 | ) | (104 | ) | (4.59 | )% | ||||||
General and administrative expenses |
(66 | ) | 325 | (592.42 | )% | |||||||
Segment results |
45 | 115 | 155.56 | % | ||||||||
As a percentage of revenue: |
||||||||||||
Selling and marketing expenses |
1.42 | % | 1.68 | % | 26bps | |||||||
General and administrative expenses |
0.86 | % | (5.26 | )% | (612 | )bps | ||||||
Gross margins |
2.86 | % | (1.72 | )% | (458 | )bps | ||||||
Segment results |
0.59 | % | 1.86 | % | 127bps |
(1) | For the purpose of segment reporting, we have included the impact of exchange rate fluctuations amounting to ₹ ₹ |
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions) |
||||||||||||
Revenue (1) |
8,912 | 7,295 | (18.14 | )% | ||||||||
Cost of revenue |
(7,282 | ) | (6,063 | ) | (16.74 | )% | ||||||
Gross profit |
1,630 | 1,232 | (24.42 | )% | ||||||||
Selling and marketing expenses |
(294 | ) | (133 | ) | (54.76 | )% | ||||||
General and administrative expenses |
(275 | ) | 74 | (126.91 | )% | |||||||
Segment results |
1,061 | 1,173 | 10.56 | % | ||||||||
As a percentage of revenue: |
||||||||||||
Selling and marketing expenses |
3.30 | % | 1.82 | % | (148 | )bps | ||||||
General and administrative expenses |
3.09 | % | (1.01 | )% | (410 | )bps | ||||||
Gross margins |
18.29 | % | 16.89 | % | (140 | )bps | ||||||
Segment results |
11.91 | % | 16.08 | % | 417bps |
(1) | For the purpose of segment reporting, we have included the impact of exchange rate fluctuations amounting to ₹ ₹ |
• | exchange differences arising from the translation or settlement of transactions in foreign currency, except for exchange differences on debt denominated in foreign currency (which are reported within finance expenses and finance and other income); and |
• | the changes in fair value for derivatives not designated as hedging derivatives and ineffective portions of the hedging instruments. For forward foreign exchange contracts which are designated and effective as cash flow hedges, the marked to market gains and losses are deferred and reported as a component of other comprehensive income in shareholder’s equity and subsequently recorded in the income statement when the hedged transactions occur, along with the hedged items. |
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
% of Revenues |
||||||||
U.S. Dollar (US$) |
61 | % | 59 | % | ||||
Pound Sterling (GBP) |
10 | % | 11 | % | ||||
Euro (EUR) |
8 | % | 10 | % | ||||
Indian Rupee (INR) |
5 | % | 5 | % | ||||
Australian Dollar (AUD) |
5 | % | 5 | % | ||||
Canadian Dollar (CAD) |
3 | % | 3 | % | ||||
Others |
8 | % | 7 | % |
Year ended March 31, |
Appreciation / (Depreciation) of INR in percentage |
|||||||||||
Average exchange rate during the period: |
2021 |
2022 |
||||||||||
U.S. Dollar (US$) |
74.27 | 74.41 | (0.19 | )% | ||||||||
Pound Sterling (GBP) |
97.03 | 101.70 | (4.81 | )% | ||||||||
Euro (EUR) |
86.61 | 86.58 | 0.03 | % | ||||||||
Australian Dollar (AUD) |
53.26 | 54.99 | (3.25 | )% | ||||||||
Canadian Dollar (CAD) |
56.13 | 59.27 | (5.59 | )% |
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
Exchange rate at the beginning of the year: |
||||||||
U.S. Dollar (US$) |
75.59 | 73.11 | ||||||
Pound Sterling (GBP) |
93.32 | 100.65 | ||||||
Euro (EUR) |
82.70 | 85.75 | ||||||
Australian Dollar (AUD) |
46.03 | 55.66 | ||||||
Canadian Dollar (CAD) |
53.02 | 58.02 | ||||||
Exchange rate at the end of the year: |
||||||||
U.S. Dollar (US$) |
73.11 | 75.78 | ||||||
Pound Sterling (GBP) |
100.65 | 99.41 | ||||||
Euro (EUR) |
85.75 | 84.07 | ||||||
Australian Dollar (AUD) |
55.66 | 56.73 | ||||||
Canadian Dollar (CAD) |
58.02 | 60.50 | ||||||
Appreciation / (Depreciation) of INR in percentage |
||||||||
U.S. Dollar (US$) |
3.28 | % | (3.65 | )% | ||||
Pound Sterling (GBP) |
(7.85 | )% | 1.23 | % | ||||
Euro (EUR) |
(3.69 | )% | 1.96 | % | ||||
Australian Dollar (AUD) |
(20.92 | )% | (1.92 | )% | ||||
Canadian Dollar (CAD) |
(9.43 | )% | (4.27 | )% |
a. |
Environment |
i. | Contribute effectively to addressing climate change: net-zero greenhouse gas emissions by 2040, which is in line with the Paris Agreement’s objective of limiting the global temperature increase to 1.5°C. We also set an intermediate target of a 55% reduction in our absolute emission levels by 2030 compared to 2017 for (a) direct emissions from sources owned or controlled by us (“Scope 1 Scope 2 Scope 3 net-zero by 2040. The primary levers of our decarbonization drive are: |
(a) | improving the energy efficiency of our facilities for a sustained reduction in energy consumption; |
(b) | increasing the use of renewable energy in our owned facilities in India through private power purchase agreements and captive solar power; and |
(c) | combining behavioral, technological and collaborative approaches that help reduce the carbon footprint of air travel, commuting and purchased goods and services. |
ii. | Responsibly manage our use of scarce water resources: |
iii. | Minimize waste generation from operations and its impact on communities: |
iv. | Enhance the biodiversity quotient of owned campuses: |
b. |
Social |
i. | Maintaining and enhancing workplace diversity and fostering a culture of inclusion that protects human dignity and empowers employees by (a) increasing diversity of gender, ethnicity and disability; (b) increasing female representation in senior leadership levels to 20% by 2025; and (c) fostering a company-wide culture of inclusion. |
ii. | Empowering employees through a culture of continuous learning, open communication and ethical conduct by (a) providing ample opportunities at every stage of an employee’s career cycle for the employee to engage in continuous learning that encourages innovative thinking and execution and (b) catalyzing and encouraging employees to internalize our values and culture as embodied in the Spirit of Wipro, the Brand Promise and the Five Habits. |
iii. | Prioritizing health, well-being and safety at all times by adopting a holistic lifecycle approach that emphasizes the health and mental well-being of employees and cascading safe work practices across the value chain. |
iv. | Contributing to societal progress and community well-being by working in a focused manner on the dimensions of education, ecology and primary health care. We also support proximate communities in times of extreme crisis. |
v. | Building capacity in the academic ecosystem through faculty and student learning programs. |
vi. | Collaboratively developing and enhancing a sustainable and responsible supply chain by proactively expanding the diversity of our supplier base with an active focus on women-owned enterprises, minority-owned enterprises and MSMEs. We are committed to responsible supplier conduct with respect to environmental and human rights in the supply chain and a transparent supplier governance process that guarantees fair practices and zero tolerance for corruption. |
c. |
Governance |
i. | We are committed to building and maintaining the highest standards of governance at the board and executive levels through (a) effective sustainability risk oversight; (b) strong data privacy protection for stakeholders; (c) a rigorous and fair ombuds process; and (d) transparent and balanced disclosures. |
Year ended March 31, |
Year on Year change |
|||||||||||
2021 |
2022 |
2022-21 |
||||||||||
( ₹ in millions) |
||||||||||||
Net cash generated from /(used in): |
||||||||||||
Operating activities |
147,550 | 110,797 | (36,753 | ) | ||||||||
Investing activities |
7,739 | (224,495 | ) | (232,234 | ) | |||||||
Financing activities |
(128,840 | ) | 46,586 | 175,426 | ||||||||
Net change in cash and cash equivalents |
26,449 | (67,112 | ) | (93,561 | ) | |||||||
Effect of exchange rate changes on cash and cash equivalents |
(890 | ) | 1,282 | 2,172 |
Total contractual payment |
Payments due in |
|||||||||||||||
Particulars |
2022-23 |
2023-27 |
2027-28 onwards |
|||||||||||||
(₹ in millions) |
||||||||||||||||
Loans, borrowings and bank overdrafts (1) (2) |
157,572 |
97,693 | 59,879 | — | ||||||||||||
Lease Liabilities (3) |
27,735 |
9,923 | 16,167 | 1,645 | ||||||||||||
Contingent consideration (4) |
4,437 |
1,922 | 2,515 | — | ||||||||||||
Interim dividend payable |
27,337 |
27,337 | — | — | ||||||||||||
Other liabilities |
4,405 |
3,867 | 538 | — | ||||||||||||
Capital commitments (5) |
11,376 |
6,214 | 2,162 | 3,000 | ||||||||||||
Purchase obligations |
22,767 |
19,128 | 3,591 | 48 |
(1) | For further information on currency and interest rate structures, refer to Note 14 of the Notes to Consolidated Financial Statements. |
(2) | Includes future cash outflow towards estimated interest on borrowings. Interest payments for long-term fixed rate debts have been calculated based on applicable rates and payment dates. Interest payments on floating rate debt have been calculated based on the payment dates and implied forward interest rates as of March 31, 2022 for each relevant debt instrument. |
(3) | Includes future cash outflow toward deferred interest on lease liabilities and certain committed leases which have not yet commenced. For further information on lease liabilities, refer to Note 5 and Note 14 in the Notes to Consolidated Financial Statements. |
(4) | The fair value of the contingent consideration is estimated by applying the discounted cash flow approach considering probability adjusted revenues and earnings estimates. The amount in the table above is the undiscounted fair value and does not include contingent consideration towards our acquisition of CAS Group. |
(5) | Represents contractual commitments related to capital expenditures on construction or expansion of software development facilities. |
Item 6. |
Directors, Senior Management and Employees |
Name |
Age |
Position | ||
Rishad A. Premji |
45 | Chairman of the Board (designated as “Executive Chairman”) | ||
Azim H. Premji |
76 | Non-Executive, Non-Independent Director (designated as “Founder Chairman”) | ||
Thierry Delaporte |
54 | Chief Executive Officer and Managing Director | ||
William Arthur Owens |
81 | Independent Director | ||
Ireena Vittal |
53 | Independent Director | ||
Dr. Patrick J. Ennis |
58 | Independent Director | ||
Patrick Dupuis |
59 | Independent Director | ||
Deepak M. Satwalekar |
73 | Independent Director | ||
Tulsi Naidu |
48 | Independent Director | ||
Jatin Pravinchandra Dalal |
47 | President and Chief Financial Officer |
Name |
Salary and allowances US$ |
Commission/ variable Pay US$ |
Others US$ |
Long-term compensation (Deferred Benefit) (4) (5) US$ |
Total US$ |
|||||||||||||||
Rishad A. Premji (1)(2) |
1,119,362 | 634,487 | 1,255 | 63,918 | 1,819,022 | |||||||||||||||
Thierry Delaporte (3)(6) |
1,739,157 | 2,548,069 | 4,192,022 | 2,039,926 | 10,519,174 | |||||||||||||||
Jatin Pravinchandra Dalal (6) |
322,580 | 222,048 | 995,754 | 50,760 | 1,591,142 |
(1) | Mr. Rishad A. Premji is entitled to a commission at the rate of 0.35% on incremental consolidated net profits of Wipro Limited for fiscal year 2022 over the previous fiscal year. |
(2) | Mr. Rishad A. Premji’s compensation also included cash bonus (part of his fixed salary) on an accrual basis, which is payable over a period of time. |
(3) | The compensation disclosed for Mr. Thierry Delaporte includes components such as a one-time cash award, as per the terms approved by the shareholders at the Annual General Meeting of the Shareholders in July 2020. |
(4) | Deferred benefits are payable to employees by way of our contribution to the Provident Fund, Pension Fund and Social Insurance (health and retirement funds) as applicable. The Provident Fund is a statutory fund to which the Company and our employees contribute every month. A lump sum payment on separation and a pension payment on attaining the age of superannuation are payable from the balance standing to the credit of the Fund, as per the Employee Provident Fund and Miscellaneous Provisions Act, 1952. |
(5) | Under our pension plans, any pension that is payable to an employee is not computed on the basis of final compensation, but on the accumulated pension fund to the credit of the employee as at the date of separation, death, disability or retirement. |
(6) | The remuneration of executive officers is computed on an accrual basis. It includes the amortization of RSUs granted to them, which vest over a period of time and RSUs that will vest based on performance parameters of the Company. |
Name |
Expiration of current term of office |
Term of office | ||
Rishad A. Premji |
July 30, 2024 | 5 years | ||
Azim H. Premji |
July 30, 2024 | 5 years | ||
Thierry Delaporte |
July 5, 2025 | 5 years | ||
William Arthur Owens |
July 31, 2022 | 5 years | ||
Ireena Vittal |
September 30, 2023 | 5 years | ||
Dr. Patrick J. Ennis |
March 31, 2026 | 5 years | ||
Patrick Dupuis |
March 31, 2026 | 5 years | ||
Deepak M. Satwalekar |
June 30, 2025 | 5 years | ||
Tulsi Naidu (1) |
June 30, 2026 | 5 years |
(1) |
On May 13, 2021, the Board of Directors approved the appointment of Ms. Tulsi Naidu as an Independent Director for a term of five years, with effect from July 1, 2021 to June 30, 2026. The said appointment was approved by shareholders of the Company at the 75 th Annual General Meeting held on July 14, 2021. |
• | Auditing and accounting matters, including recommending the appointment of our independent auditors to the shareholders; |
• | Compliance with legal and statutory requirements; |
• | Integrity of the Company’s financial statements, discussions with the independent auditors regarding the scope of the annual audits, and fees to be paid to the independent auditors; |
• | Performance of the Company’s internal audit function, independent auditors and accounting practices; |
• | Review of related party transactions and functioning of whistle blower mechanism; |
• | Implementation of the applicable provisions of the Sarbanes Oxley Act of 2002 (the “ Sarbanes Oxley Act |
• | Review of utilization of loans and advances from, and investment by, the Company in its subsidiaries exceeding ₹ |
• | Evaluation of internal financial controls, monitoring and reviewing of the risk management plan and such other functions including cyber security as the Board of Directors may deem fit; |
• | To formulate a detailed risk management policy which shall include: |
a) | A framework for identification of internal and external risks specifically faced by the Company, in particular including financial, operational, sectoral, sustainability (specifically, environmental, social and governance related risks and impact), information and cyber security risks |
b) | Measures for risk mitigation |
c) | Systems for internal controls |
d) | Business contingency plan |
• | To monitor and oversee implementation of the risk management policy, including evaluating the adequacy of risk management and internal control systems; |
• | Evaluate risks related to cyber security and significant risk exposures of the Company and assess steps taken by the management to mitigate the exposures in a timely manner (including business continuity and disaster recovery planning). |
• | Identifying, and recommending to the Board for appointment or removal of directors and senior management, in accordance with the criteria laid down, and carrying out evaluations of each director’s performance. |
• | Developing and recommending to the Board corporate governance guidelines applicable to the Company; |
• | Evaluating the Board on a continuing basis, including an assessment of the effectiveness of the full Board, operations of the Board Committees and contributions of individual directors; |
• | Establishing policies and procedures to assess the requirements for induction of new members to the Board; |
• | Implementing policies and processes relating to corporate governance principles; |
• | Ensuring that appropriate procedures are in place to assess Board membership needs and Board effectiveness; |
• | Reviewing the Company’s policies that relate to matters of corporate social responsibility (“ CSR |
• | Formulating the Disclosure Policy, its review and approval of disclosures; |
• | Approving and evaluating the compensation plans, policies and programs for full-time directors and senior management; |
• | Acting as Administrator of the Company’s Employee Stock Option Plans and Employee Stock Purchase Plans drawn up from time to time; |
• | Reviewing and recommending of all remuneration, in whatever form, payable to senior management; and |
• | Implementing an effective mechanism for succession planning, which focuses on orderly succession of Directors, including Executive Directors and other senior management team and other executive officers. |
• | Redressal of grievances of the shareholders of the Company pertaining to transfer or transmission of shares, non-receipt of annual report and declared dividends, issue of new or duplicate share certificates, and grievances pertaining to corporate actions; |
• | Approving consolidation, split or sub-division of share certificates, transmission of shares, issue of duplicate share certificates, re-materialization of shares; |
• | Reviewing the grievance redressal mechanism implemented by the Company in coordination with Company’s Registrar and Transfer Agent (“ RTA |
• | Reviewing the measures taken by the Company for effective exercise of voting rights by shareholders; |
• | Implementing and overseeing the procedures and processes in handling and maintenance of records, transfer of securities and payment of dividend by the Company, RTA and dividend processing bank; |
• | Reviewing the various measures and initiatives taken by the Company for reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend warrants, annual reports and statutory notices by the shareholders of the Company; |
• | Overseeing administrative matters like opening and closure of Company’s bank accounts, grant and revocation of general, specific and banking powers of attorney; and |
• | Considering and approving allotment of equity shares pursuant to exercise of stock options, setting up branch offices and other administrative matters as delegated by Board from time to time. |
Name |
Equity Shares beneficially owned |
Percentage of Total Equity Shares Outstanding |
Equity Shares Underlying Options Granted |
Exercise Price (US$) |
Date of expiration | |||||||||||||
Azim H. Premji (1) |
4,001,950,248 | 73.00 | — | — | — | |||||||||||||
Thierry Delaporte (3) |
118,000 | # |
* | 900,000 | ** |
0.03 | June 2023 | |||||||||||
200,000 | ** |
0.03 | July 2024 | |||||||||||||||
400,356 | ** |
0.03 | July 2024 | |||||||||||||||
133,452 | ** |
0.03 | November 2025 | |||||||||||||||
593,120 | ** |
0.03 | November 2028 | |||||||||||||||
Rishad A. Premji |
1,738,057 | *** |
* | — | — | — | ||||||||||||
William Arthur Owens |
— | — | — | — | — | |||||||||||||
Ireena Vittal |
— | — | — | — | — | |||||||||||||
Patrick Dupuis |
— | — | — | — | — | |||||||||||||
Patrick J. Ennis |
— | — | — | — | — | |||||||||||||
Deepak M. Satwalekar |
— | — | — | — | — | |||||||||||||
Tulsi Naidu |
— | — | — | — | — | |||||||||||||
Jatin Pravinchandra Dalal (2)(3) |
210,621 | * | 140,000 | 0.03 | July 2023 | |||||||||||||
48,000 | 0.03 | August 2023 | ||||||||||||||||
77,189 | 0.03 | July 2024 | ||||||||||||||||
31,500 | 0.03 | August 2024 | ||||||||||||||||
40,200 | 0.03 | November 2024 | ||||||||||||||||
33,082 | 0.03 | November 2025 |
(1) | Includes 928,946,043 shares held by Hasham Traders (a partnership firm), of which Mr. Azim H. Premji is a partner, 1,119,892,315 shares held by Prazim Traders (a partnership firm), of which Mr. Azim H. Premji is a partner, 1,135,618,360 shares held by Zash Traders (a partnership firm), of which Mr. Azim H. Premji is a partner, 1,425,034 shares held by Hasham Investment and Trading Company Pvt. Ltd., of which Mr. Azim H. Premji is a director, 558,676,017 shares held by Azim Premji Trust, of which Azim Premji Trustee Company Private Limited is the trustee company, of which Mr. Azim H. Premji is a director and shareholder, and 242,823,816 shares held by Mr. Azim H. Premji and members of his |
immediate family. In addition, 14,568,663 shares are held by Azim Premji Philanthropic Initiatives Private Limited. Mr. Azim H. Premji disclaims beneficial ownership of 14,568,663 shares held by Azim Premji Philanthropic Initiatives Private Limited and 558,676,017 shares held by Azim Premji Trust. |
(2) | The equity shares beneficially owned include vested and unexercised options to purchase equity shares exercisable within 60 days of March 31, 2022. |
(3) | The equity shares underlying options granted include options that will vest based on performance parameters of the Company. |
# | Represents ADS having equivalent underlying equity shares, acquired pursuant to exercise of stock options. |
* | Represents less than 1% of the total equity shares outstanding as of March 31, 2022. |
** | Represents ADS Stock Options having equivalent underlying equity shares. |
*** | Equity shares held by Mr. Rishad A. Premji are jointly with his relative and included in shareholding of Mr. Azim H. Premji. |
Name of plan |
Number of options (1) |
Range of exercise prices (1) |
Effective date |
Termination date |
Other remarks | |||||||||||
Wipro ADS Restricted Stock Unit Plan (WARSUP 2004 plan) |
59,797,979 | US$ | 0.03 | June 11, 2004 | — | Perpetual until the options are available for grant under the plan | ||||||||||
Wipro employee Restricted Stock Unit Plan 2005 (WSRUP 2005 plan) |
59,797,979 | ₹ |
2 | July 21, 2005 | — | Perpetual until the options are available for grant under the plan | ||||||||||
Wipro employee Restricted Stock Unit Plan 2007 (WSRUP 2007 plan) |
49,831,651 | ₹ |
2 | July 18, 2007 | — | Perpetual until the options are available for grant under the plan | ||||||||||
Wipro Equity Reward Trust Employee Stock Purchase Plan, 2013 |
39,546,197 | ₹ |
2 | May 30, 2013 | May 29, 2023 | — |
(1) | Subject to adjustment for corporate action from time to time. |
Item 7. |
Major Shareholders and Related Party Transactions |
Name of Beneficial Owner |
Class of Security |
Number of Shares Beneficially Held as of March 31, 2022 |
% of Class of Total Shares Outstanding |
|||||||||
Azim H. Premji (1) |
Equity | 4,001,950,248 | 73.00 | |||||||||
Hasham Traders |
Equity | 928,946,043 | 16.95 | |||||||||
Prazim Traders |
Equity | 1,119,892,315 | 20.43 | |||||||||
Zash Traders |
Equity | 1,135,618,360 | 20.72 | |||||||||
Azim Premji Trust |
Equity | 558,676,017 | 10.19 |
(1) | Includes shares held by Hasham Traders, Prazim Traders, Zash Traders and Azim Premji Trust as detailed above. Additionally, it also includes 1,425,034 shares held by Hasham Investment and Trading Company Private Limited, 242,823,816 shares held by Mr. Azim H. Premji and members of his immediate family and 14,568,663 shares are held by Azim Premji Philanthropic Initiatives Private Limited. Mr. Azim H. Premji disclaims beneficial ownership of shares held by Azim Premji Philanthropic Initiatives Private Limited and shares held by Azim Premji Trust. |
Item 8. |
Financial Information |
• | Report of the independent registered public accounting firm; |
• | Consolidated Statements of Financial Position as of March 31, 2021 and 2022; Consolidated Statements of Income for the years ended March 31, 2020, 2021 and 2022; |
• | Consolidated Statements of Comprehensive Income for the years ended March 31, 2020, 2021 and 2022; |
• | Consolidated Statements of Changes in Equity for the years ended March 31, 2020, 2021 and 2022; |
• | Consolidated Statements of Cash Flows for the years ended March 31, 2020, 2021 and 2022; and |
• | Notes to the Consolidated Financial Statements. |
Item 9. |
The Offer and Listing |
• | To undertake and carry on the business of providing all kinds of information technology based and enabled services in India and internationally, electronic remote processing services, eServices, including all types of Internet-based and Web enabled services, transaction processing, fulfillment services, business support services including but not limited to providing financial and related services such as billing services, processing services, database services, data entry business marketing services, business information and management services, training and consultancy services to businesses, organizations, firms, corporations, trusts, local bodies, states, governments and other entities; establishing and operating service processing centers for providing services for back office and processing requirements, marketing, sales and credit collection services for companies engaged in the business of remote processing and IT enabled services from a place of business in India or elsewhere, contacting and communicating to and on behalf of overseas customers by voice, data image or letters using dedicated international private lines to handle business process management, remote help desk management; and remote management. |
• | To carry on business in India and elsewhere as a manufacturer, assembler, designer, builder, seller, buyer, exporter, importer, factors, agents, hirers and dealers of computer hardware and software and any related aspects thereof. |
• | To carry on all or any of the business of soap and candle makers, tallow merchants, chemists, druggists, dry salters, oil-merchants, manufacturers of dyes, paints, chemicals and explosives and manufacturers of and dealers in pharmaceutical, chemical, medicinal and other preparations or compounds, perfumery and proprietary articles and photographic materials and derivatives and other similar articles of every description. |
• | To carry on business as manufacturers, sellers, buyers, exporters, importers, and dealers of fluid power products. |
• | To carry on the business of extracting, manufacturing and dealing in hydrogenated vegetable oil. |
• | To carry on the business of providing solutions for water treatment including but not limited to ultra-pure water, wastewater treatment, water reuse, desalination and related activities. |
• | To carry on the business of renewable energy systems and food and agricultural product processing and related industries. |
• | To carry on any other trade or business whatsoever as can in the opinion of us be advantageously or conveniently carried on by us. |
• | we do not timely request that the rights be distributed to you or we request that the rights not be distributed to you; |
• | we fail to deliver satisfactory documents to the Depositary; or |
• | it is not reasonably practicable to distribute the rights. |
i) | Through its General Circular dated October 29, 2021, the MCA announced a relaxation on the levy of additional fees for filing e-forms AOC-4, AOC- XBRL, AOC-4 (CFS), AOC-4 (Non-XBRL), MGT-7 and MGT-7A until December 31, 2021. This relaxation was further extended until February 28, 2022 and then to March 31, 2022, through circulars dated December 29, 2021 and February 14, 2022, respectively. |
ii) | The MCA, through the Companies (Meetings of Board and its Powers) Amendment Rules, 2021, has permanently omitted rule 4 of the prior rules, which means that companies may now freely transact all business in their board meetings conducted through video conferencing or other audio-visual means. |
iii) | Through its General Circulars dated December 8 and 14, 2021, the MCA permitted companies with AGMs due in the year 2021 and 2022, to conduct such AGMs through video conference or other audio-visual means on or before June 30, 2022, subject to compliance with certain conditions. |
This | relaxation was further extended until December 31, 2022, through General Circular dated May 5, 2022. |
iv) | Through its General Circular dated December 8, 2021, the MCA permitted companies to conduct their Extra-Ordinary General Meetings (“ EGMs |
• | The amended regulations prescribed the following modifications to the eligibility criteria for appointment as an ID: |
a) | The ID shall not have had a pecuniary relationship with the company for the preceding three years (this was previously the preceding two years. |
b) | None of the relatives of the ID shall hold any security or interest in the company, its holding, subsidiary or associate company during the current financial year or immediately preceding financial year for a face value in excess of ₹ paid-up capital of the company, whichever is lower. Prior to the amendment, the percentage was linked with gross turnover instead of paid-up capital. |
c) | None of the relatives of the ID shall be indebted to the company, its holding, subsidiary or associate company during the current financial year or immediately preceding financial year for a value in excess of ₹ |
d) | None of the relatives of the ID provided guarantee or provided any security in connection with the indebtedness of the company, its holding, subsidiary or associate company or its promoters or directors, in excess of 2% of its gross turnover or total income or ₹ |
• | Appointment and/or re-appointment and removal of IDs is required to be done through a special resolution of shareholders for all listed entities. The shareholder approval for appointment of a director, including IDs, is to be taken at the following general meeting or within 3 months of the appointment on the board, whichever is earlier. |
• | The nomination and remuneration committee (“ NRC |
• | At least two-thirds of the members of a listed company’s NRC and audit committee are required to be IDs. |
• | In cases of resignation of an ID, the following disclosures shall be made to the stock exchanges: a) letter of resignation along with detailed reasons for the resignation as given by the said director, b) names of listed entities in which the resigning director holds directorships and details of membership of board committees, if any, and c) confirmation that there is no other material reasons other than those provided, for the resignation of director. |
• | Requirement of undertaking directors and officers insurance has been extended to the top 1,000 companies by market capitalization. |
• | Definition of related party: The amended SEBI Listing Regulations adopts the definition of ‘related party’ from Section 2(76) of the Companies Act, 2013. In addition, the previous definition under the SEBI Listing Regulations also included entities belonging to the promoter or promoter group of the listed entity and holding 20% or more of the shareholding of the listed entity. As per the amended regulations, effective April 1, 2022, any individual or entity forming part of the promoter or promoter group of the listed entity, regardless of shareholding, shall be deemed to be a related party. |
• | Scope of related party transactions: The definition of RPT under the amended SEBI Listing Regulations has been amended to cover transactions undertaken at the subsidiary level. Now, transactions undertaken between two subsidiaries will also be an RPT and will be subject to the listed entity’s approval. |
• | Materiality of RPTs: Prior to the amendment, a transaction was considered as material during a financial year if it exceeded 10% of the annual consolidated turnover as per the last audited financial statements of the listed entity. Pursuant to the amended SEBI Listing Regulations, an RPT would be considered as material if the transaction entered into individually or taken together with previous transactions during a financial year exceeds ₹ |
• | Enhanced role of the audit committee: All related party transactions and subsequent material modifications shall require prior approval of the audit committee of the listed entity. The amended SEBI Listing Regulations include the following additional roles for the audit committee of a listed entity: |
a) | To define “material modifications” and disclose it as part of the policy on materiality of RPTs and on dealing with RPTs. |
b) | To provide prior approval for an RPT to which the subsidiary of a listed entity is a party but the listed entity is not a party, if the value of such transaction whether entered into individually or taken together with previous transactions during a financial year exceeds 10% of the annual consolidated turnover, as per the last audited financial statements of the listed entity. |
c) | With effect from April 1, 2023, prior approval of the audit committee of a listed entity shall be required, if the value of such transaction whether entered into individually or taken together with previous transactions during a financial year, exceeds 10% of the annual standalone turnover, as per the last audited financial statements of the subsidiary. |
• | Detailed disclosures: A listed entity shall submit to the stock exchanges, on a half yearly basis, disclosures of RPTs in the format as specified by SEBI and according to the following timelines: |
a) | Within 15 days from the date of publication of its standalone and consolidated financial results (effective April 1, 2022). |
b) | On the date of publication of its standalone and consolidated financial results (effective April 1, 2023). |
• | Shareholder approval: Pursuant to the amended SEBI Listing Regulations, any material RPT and any material modification to such transaction shall require prior approval of a listed entity’s shareholders. Previously, only material RPTs required approval of shareholders of a listed entity. |
• | Expanded definition of “employee”: An employee, except in relation to sweat equity, now includes an employee of the company who is working in India or outside India and shall also include employees of group companies, including associate companies. Further, the SBEB Regulations specifically state that a non-executive director is also included within the ambit of the term ‘employee’, not being a promoter or a member of the promoter group. |
• | Mode of implementation of share-based employee benefit schemes: Under the SBEB Regulations, companies are given the liberty to change the mode of implementation of the schemes i.e., either directly by the Company or through the trust established under the SBEB Regulations (the “ Trust |
• | Appropriation of shares by the Trust: Previously, the unappropriated inventory of shares lying with the Trust, which were not backed by grants, were required to be appropriated by the end of subsequent financial year. Now, under the SBEB Regulations, such unappropriated inventory of shares can be appropriated by the second subsequent financial year, subject to the approval of the nomination and remuneration committee. |
• | Variation in the terms of share-based employee benefit schemes: Pursuant to the SBEB Regulations, companies can vary the terms of share-based employee benefit schemes to meet any regulatory requirement, without seeking shareholders’ approval. |
• | Vesting of options in case of death or permanent incapacity: In the event of death or permanent incapacity of the employee while in employment, all the options or any other benefit granted under a scheme to him or her till his or her death or permanent incapacity shall vest, with immediate effect from the date of his or her death or permanent incapacity. |
• | Vesting in case of retirement or superannuation: Under the SBEB Regulations, in the event of cessation of employment due to retirement or superannuation, the options or any other benefits granted to such employee will continue to vest in accordance with their respective vesting schedules even after retirement or superannuation in accordance with company policies and applicable law. |
• | Evaluate the impact of the COVID-19 pandemic on its business, performance and financials, both qualitatively and quantitatively, to the extent possible. |
• | Disseminate available information about the impact in a timely and cogent manner to its investors and stakeholders, subject to application of materiality. |
• | Additional disclosure requirements: a) while submitting financial statements under Regulation 33 of the SEBI Listing Regulations, listed companies may specify/include the impact of the COVID-19 pandemic on their financial statements, to the extent possible and b) provide regular updates, as and when there are any material developments. |
• | To simplify the provisions governing foreign investment in India. |
• | To vest the Central Government with power over non-debt instruments. |
• | To vest the RBI with the power over debt instruments. |
• | a period or periods amounting to 182 days or more; or |
• | 60 days or more and, within the four preceding years has been in India for a period or periods amounting to 365 days or more. |
• | Per the Finance Act, 2020, an Indian citizen who is not liable to tax in any other country or territory shall be deemed to be resident in India subject to fulfillment of certain conditions. This amendment is effective from April 1, 2021. |
• | Gains from a sale of ADSs outside India, by a non-resident to another non-resident are not taxable in India. |
• | Long-term capital gains realized by a resident holder from the transfer of the ADSs will be subject to tax at the rate of 10%. Short-term capital gains on such a transfer as per the provisions of the Income-tax Act will be taxed at graduated rates with a maximum of 30%. |
• | Long-term capital gains realized by a non-resident upon the sale of equity shares obtained through the redemption of ADSs, or settlement of such sale being made off a recognized stock exchange, are subject to tax at a rate of 10% as per the provisions of the Income-tax Act, 1961. |
• | Long-term capital gains realized by a non-resident upon the sale of equity shares obtained through the redemption of ADSs, or settlement of such sale being made on a recognized stock exchange, is exempt from tax for sale executed before March 31, 2018 and the short-term capital gains on such sale will be taxed at 15%. An additional tax called “Securities Transaction Tax”, or “STT” (described in detail below) will be levied at the time of settlement. Finance Act 2018 has introduced a new section “112A” effective April 01, 2018—Long-term capital gains on such sale executed from April 1, 2018 will be taxable, subject to a threshold exemption of ₹ |
• | In addition to the above, a surcharge as set forth below and an additional surcharge called “Health and Education Cess” of 4% (effective financial year commencing April 1, 2018) is levied as follows: |
Category of person |
Net Income Range (in ₹ |
Surcharge rate for FY 2021-22 | ||
Individual/HUF/AOP/BOI/artificial Juridical Person |
0-5 million 5 million – 10 million 10 million – 20 million 20 million – 50 million Above 50 million |
Nil 10% 15% 25% 37% | ||
Firms/Co-operative Society/Local Authority |
0-10 million Above 10 million |
Nil 12% (7% from FY 2022-23) | ||
Domestic Company |
0 – 10 million 10 million – 100 million Above 100 million |
Nil 7% 12% (rate is 10% for Companies opting for section 115BAA) | ||
Foreign Company |
0 – 10 million 10 million – 100 million Above 100 million |
Nil 2% 5% |
• | The above rates may be reduced by the applicable tax treaty in case of non-residents. The capital gains tax is computed by applying the appropriate tax rates to the difference between the sale price and the purchase price of the equity shares or ADSs. In the case of employees who receive shares allotted as part of a company’s stock option plan, the purchase price shall be the fair market value which has been taken into account for the purpose of computing the perquisite on salaries. In 1992, the government allowed established Indian companies to issue FCCB. Effective April 2008, the conversion of FCCBs into shares or debentures of any company shall not be treated as a ‘transfer’ and consequently will not be subject to capital gains tax upon conversion. Further, the cost of acquisition of the shares received upon conversion of the bond shall be the price at which the corresponding bond was acquired. |
• | Any gain realized by a non-resident or resident employee on the sale of equity shares is subject to Indian capital gains tax, which, in the case of a non-resident is to be withheld at the source by the buyer. However, as per the provisions of Section 196D(2) of the Income-tax Act, 1961, no withholding tax is required to be deducted by way of capital gains arising to Foreign Institutional Investors as defined in Section 115AD of the Income-tax Act, 1961 on the transfer of securities as defined in Section 115AD of the Income-tax Act, 1961. |
Taxable securities transaction |
Rate |
Payable by | ||||
Purchase of an equity share in a company where— |
0.1 | % | Purchaser | |||
(a) the transaction of such purchase is entered into in a recognized stock exchange; and |
||||||
(b) the contract for the purchase of such share is settled by the actual delivery or transfer of such share. |
||||||
Sale of an equity share in a company where— |
0.1 | % | Seller | |||
(a) the transaction of such sale is entered into in recognized stock exchange; and |
||||||
(b) the contract for the sale of such share is settled by the actual delivery or transfer of such share. |
||||||
Sale of a unit of an equity-oriented fund, where— |
0.001 | % | Seller | |||
(a) the transaction of such sale is entered into in a recognized stock exchange; and |
||||||
(b) the contract for the sale of such unit is settled by the actual delivery or transfer of such unit. |
||||||
Sale of an equity share in a company or a unit of an equity-oriented fund, where— |
0.025 | % | Seller | |||
(a) the transaction of such sale is entered into in a recognized stock exchange; and |
||||||
(b) the contract for the sale of such share or unit is settled otherwise than by the actual delivery or transfer of such share or unit. |
||||||
(a) Sale of an option in securities |
0.017 | % | Seller | |||
(b) Sale of an option in securities, where option is exercised |
0.125 | % | Purchaser | |||
(c) Sale of a futures in securities |
0.01 | % | Seller | |||
Sale of a unit of an equity-oriented fund to the Mutual Fund. |
0.001 | % | Seller |
• | The arrangement creates rights and obligations, which are not normally created between parties dealing at arm’s length. |
• | It results in misuse or abuse of provisions of tax laws. |
• | It lacks commercial substance or is deemed to lack commercial substance. |
• | It is carried out in a manner, which is normally not employed for a bona fide purpose. |
• | 75% or more of its gross income for the taxable year is passive income; or |
• | on average for the taxable year by value, or, if it is not a publicly traded corporation and so elects or is a controlled foreign corporation, by adjusted basis, if 50% or more of its assets produce or are held for the production of passive income. |
• | pay an interest charge together with tax calculated at ordinary income rates on “excess distributions,” as the term is defined in relevant provisions of U.S. tax laws, and on any gain on a sale or other disposition of ADSs or equity shares; |
• | if an election is made for us to be a “qualified electing fund” (as the term is defined in relevant provisions of the U.S. tax laws), include in their taxable income their pro rata share of undistributed amounts of our income; or |
• | if the equity shares are “marketable” and a mark-to-market mark-to-market |
(i) | each person to whom ADSs are issued, including, without limitation, issuances against deposits of Shares, issuances in respect of Share Distributions, Rights and Other Distributions (as such terms are defined in paragraph (10)), issuances pursuant to a stock dividend or stock split declared by the Company, or issuances pursuant to a merger, exchange of securities or any other transaction or event affecting the ADSs or the Deposited Securities, and |
(ii) | each person surrendering ADSs for withdrawal of Deposited Securities or whose ADSs are cancelled or reduced for any other reason, US$ 5.00 for each 100 ADSs (or portion thereof) issued, delivered, reduced, cancelled or surrendered (as the case may be). The Depositary may sell (by public or private sale) sufficient securities and property received in respect of Share Distributions, Rights and Other Distributions prior to such deposit to pay such charge. |
(i) | a fee of US$ 0.05 or less per ADS for any Cash distribution made pursuant to the Deposit Agreement, |
(ii) | a fee of US$ 1.50 per ADR or ADRs for transfers made pursuant to paragraph (3) hereof, |
(iii) | a fee for the distribution or sale of securities pursuant to paragraph (10) hereof, such fee being in an amount equal to the fee for the execution and delivery of ADSs referred to above which would have been charged as a result of the deposit of such securities (for purposes of this paragraph (7) treating all such securities as if they were Shares) but which securities or the net cash proceeds from the sale thereof are instead distributed by the Depositary to Holders entitled thereto, |
(iv) | an aggregate fee of US$ 0.05 per ADS per calendar year (or portion thereof) for services performed by the Depositary in administering the ADRs (which fee may be charged on a periodic basis during each calendar year and shall be assessed against Holders as of the record date or record dates set by the Depositary during each calendar year and shall be payable at the sole discretion of the Depositary by billing such Holders or by deducting such charge from one or more cash dividends or other cash distributions), and |
(v) |
a fee for the reimbursement of such fees, charges and expenses as are incurred by the Depositary and/or any of the Depositary’s agents (including, without limitation, the Custodian and expenses incurred on behalf of Holders in connection with compliance with foreign exchange control regulations or any law or regulation relating to foreign investment) in connection with the servicing of the Shares or other Deposited Securities, the sale of securities (including, without limitation, Deposited Securities), the delivery of Deposited Securities or otherwise in connection with the Depositary’s or its Custodian’s compliance with applicable law, rule or regulation (which fees and charges shall be assessed on a proportionate basis against Holders as of the record date or dates set by the Depositary and shall be payable at the sole discretion of the Depositary by billing such Holders or by deducting such charge from one or more cash dividends or other cash distributions). |
(i) |
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; |
(ii) |
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with IFRS, as issued by the IASB and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and |
(iii) |
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the financial statements. |
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
( ₹ in millions) |
||||||||
Audit fees |
₹ |
83 |
₹ |
138 |
||||
Tax fees |
44 |
78 |
||||||
All other fees |
13 |
19 |
||||||
|
|
|
|
|||||
Total |
₹ |
140 |
₹ |
235 |
||||
|
|
|
|
• |
Listing regulations with the Indian Stock Exchanges state that where the chairperson of the Board of Directors is a non-executive director, at least one-third of the Board of Directors shall comprise of independent directors and where the listed entity does not have a regular non-executive chairperson, at least half of the Board of Directors shall comprise of independent directors. On the other hand, NYSE listing requirements specify that a majority of the Board of Directors must consist of independent directors. |
• |
Listing regulations with the Indian Stock Exchanges require that a majority of the members of the Audit Committee be independent directors while the NYSE listing requirements specify that all the members of the Audit Committee must be independent directors. |
• |
A Shareholders Grievance Committee (Stakeholders Relationship Committee) is mandatory under listing regulations with the Indian Stock Exchanges. This is not a requirement under NYSE listing requirements. |
• |
Criteria for determining directors to be independent also differ between the two countries’ listing requirements. |
• |
Listing regulations with the Indian Stock Exchanges require submission of report on Related Party Transactions on a consolidated basis and publication of the same on the company’s website in the format specified by the accounting standard on a half-yearly basis. |
• |
Listing regulations with the Indian Stock Exchanges require detailed reasons to be provided in the event of any resignation by statutory auditors or independent directors. |
• |
Listing regulations with the Indian Stock Exchanges require that a company ensure that for the purposes of quarterly consolidated financial results, at least 80% of each of the consolidated revenue, assets and profits shall have been subject to audit or limited review. |
• |
Listing regulations with the Indian Stock Exchanges require certain disclosures in a company’s annual report, including details of significant changes (i.e., change of 25% or more as compared to the immediately preceding financial year) in key financial ratios, including debtors turnover, inventory turnover, interest coverage ratio, current ratio, debt equity ratio, operating profit margin and net profit margin, along with detailed explanations. |
• |
Listing regulations with the Indian Stock Exchanges require the Nomination and Remuneration Committee to recommend to the Board of Directors all remuneration, in whatever form payable, to senior management. |
• |
We tested the effectiveness of controls relating to (1) recording of efforts incurred and estimation of efforts required to complete the remaining performance obligations, and (2) access and application controls pertaining to time recording and allocation systems, which prevents unauthorized changes to recording of efforts incurred. |
• |
We evaluated management’s ability to reasonably estimate the progress towards satisfying the performance obligation by comparing actual information to estimates for performance obligations that have been fulfilled. |
• |
We selected a sample of fixed price contracts with customers accounted using percentage-of-completion |
• |
Read the contract and based on the terms and conditions evaluated whether recognizing revenue over time using percentage of completion method was appropriate, and the contract was included in management’s calculation of revenue over time. |
• |
Evaluated the appropriateness of and consistency in the application of management’s policies and methodologies to estimate progress towards satisfying the performance obligation. |
• |
Compared efforts incurred to date with Company’s estimate of efforts incurred to date to identify significant variations and evaluate whether those variations have been considered appropriately in estimating the remaining efforts to complete the contract. |
• |
Tested the estimate for consistency with the status of delivery of milestones and customer acceptances to identify possible delays in achieving milestones, which require changes in estimated efforts to complete the remaining performance obligations. |
• |
Evaluated other information that supported the estimates of the progress towards satisfying the performance obligation. |
As at March 31, |
||||||||||||||
Notes |
2021 |
2022 |
2022 |
|||||||||||
Convenience translation into US dollar in millions (unaudited) Refer to Note 2(iii) |
||||||||||||||
ASSETS |
||||||||||||||
Goodwill |
6 | |||||||||||||
Intangible assets |
6 | |||||||||||||
Property, plant and equipment |
4 | |||||||||||||
Right-of-Use |
5 | |||||||||||||
Financial assets |
||||||||||||||
Derivative assets |
19 | ^ | ||||||||||||
Investments |
8 | |||||||||||||
Trade receivables |
9 | |||||||||||||
Other financial assets |
12 | |||||||||||||
Investments accounted for using the equity method |
8 | |||||||||||||
Deferred tax assets |
21 | |||||||||||||
Non-current tax assets |
||||||||||||||
Other non-current assets |
13 | |||||||||||||
|
|
|
|
|
|
|||||||||
Total non-current assets |
||||||||||||||
|
|
|
|
|
|
|||||||||
Inventories |
10 | |||||||||||||
Financial assets |
||||||||||||||
Derivative assets |
19 | |||||||||||||
Investments |
8 | |||||||||||||
Cash and cash equivalents |
11 | |||||||||||||
Trade receivables |
9 | |||||||||||||
Unbilled receivables |
||||||||||||||
Other financial assets |
12 | |||||||||||||
Contract assets |
||||||||||||||
Current tax assets |
||||||||||||||
Other current assets |
13 | |||||||||||||
|
|
|
|
|
|
|||||||||
Total current assets |
||||||||||||||
|
|
|
|
|
|
|||||||||
TOTAL ASSETS |
||||||||||||||
|
|
|
|
|
|
|||||||||
EQUITY |
||||||||||||||
Share capital |
||||||||||||||
Share premium |
||||||||||||||
Retained earnings |
||||||||||||||
Share-based payment reserve |
||||||||||||||
Special Economic Zone Re-investment reserve |
||||||||||||||
Other components of equity |
||||||||||||||
|
|
|
|
|
|
|||||||||
Equity attributable to the equity holders of the Company |
||||||||||||||
Non-controlling interests |
||||||||||||||
|
|
|
|
|
|
|||||||||
TOTAL EQUITY |
||||||||||||||
|
|
|
|
|
|
|||||||||
LIABILITIES |
||||||||||||||
Financial liabilities |
||||||||||||||
Loans and borrowings |
14 | |||||||||||||
Lease liabilities |
5, 14 | |||||||||||||
Derivative liabilities |
|
19 |
|
|
|
|
|
|
|
|
|
|
|
|
Other financial liabilities |
16 | |||||||||||||
Deferred tax liabilities |
21 | |||||||||||||
Non-current tax liabilities |
||||||||||||||
Other non-current liabilities |
17 | |||||||||||||
Provisions |
18 | ^ | ||||||||||||
|
|
|
|
|
|
|||||||||
Total non-current liabilities |
||||||||||||||
|
|
|
|
|
|
|||||||||
Financial liabilities |
||||||||||||||
Loans, borrowings and bank overdrafts |
14 | |||||||||||||
Lease liabilitie s |
|
5, 14 |
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liabilities |
19 | |||||||||||||
Trade payables and accrued expenses |
15 | |||||||||||||
Other financial liabilities |
16 | |||||||||||||
Contract liabilities |
||||||||||||||
Current tax liabilities |
||||||||||||||
Other current liabilities |
17 | |||||||||||||
Provisions |
18 | |||||||||||||
|
|
|
|
|
|
|||||||||
Total current liabilities |
||||||||||||||
|
|
|
|
|
|
|||||||||
TOTAL LIABILITIES |
||||||||||||||
|
|
|
|
|
|
|||||||||
TOTAL EQUITY AND LIABILITIES |
^ |
Value is less than 1 |
Year ended March 31, |
||||||||||||||||||||
Notes |
2020 |
2021 |
2022 |
2022 |
||||||||||||||||
Convenience translation into US dollar in millions (unaudited) Refer to |
||||||||||||||||||||
Revenues |
24 | |||||||||||||||||||
Cost of revenues |
25 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Gross profit |
||||||||||||||||||||
Selling and marketing expenses |
25 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
General and administrative expenses |
25 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
Foreign exchange gains/(losses), net |
28 | |||||||||||||||||||
Other operating income/(loss), net |
26 | ( |
) | |||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Results from operating activities |
||||||||||||||||||||
Finance expenses |
27 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
Finance and other income |
28 | |||||||||||||||||||
Share of net profit /(loss) of associates accounted for using the equity method |
8 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Profit before tax |
||||||||||||||||||||
Income tax expense |
21 | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Profit for the year |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Profit attributable to: |
||||||||||||||||||||
Equity holders of the Company |
||||||||||||||||||||
Non-controlling interests |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Profit for the year |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Earnings per equity share: |
29 | |||||||||||||||||||
Attributable to equity holders of the Company |
||||||||||||||||||||
Basic |
||||||||||||||||||||
Diluted |
||||||||||||||||||||
Weighted average number of equity shares used in computing earnings per equity share |
||||||||||||||||||||
Basic |
||||||||||||||||||||
Diluted |
^ |
Value is less than 1 |
Year ended March 31, |
||||||||||||||||
2020 |
2021 |
2022 |
2022 |
|||||||||||||
Convenience translation into US dollar in millions (unaudited) Refer to Note 2(iii) |
||||||||||||||||
Profit for the year |
||||||||||||||||
Other comprehensive income (OCI) |
||||||||||||||||
Items that will not be reclassified to profit or loss in subsequent periods |
||||||||||||||||
Remeasurements of the defined benefit plans, net |
( |
) | ||||||||||||||
Net change in fair value of investment in equity instruments measured at fair value through OCI |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
( |
) |
|||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Items that will be reclassified to profit or loss in subsequent periods |
||||||||||||||||
Foreign currency translation differences |
( |
) | ||||||||||||||
Reclassification of foreign currency translation differences on sale of investment in associates and liquidation of subsidiaries to statement of income |
( |
) | ( |
) | ||||||||||||
Net change in time value of option contracts designated as cash flow hedges |
( |
) | ||||||||||||||
Net change in intrinsic value of option contracts designated as cash flow hedges |
( |
) | ( |
) | ( |
) | ||||||||||
Net change in fair value of forward contracts designated as cash flow hedges |
( |
) | ( |
) | ( |
) | ||||||||||
Net change in fair value of investment in debt instruments measured at fair value through OCI |
( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|||||||||
Total other comprehensive income, net of taxes |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total comprehensive income for the year |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total comprehensive income attributable to: |
||||||||||||||||
Equity holders of the Company |
||||||||||||||||
Non-controlling interests |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
^ |
Value is less than 1 |
Other components of equity |
Equity attributable to the equity holders of the Company |
Non-controlling interests |
Total equity |
|||||||||||||||||||||||||||||||||||||||||||||
Particulars |
Number of Shares (1) |
Share capital, fully paid-up |
Share premium |
Retained earnings |
Share- based payment reserve |
Special Economic Zone Re-investment reserve |
Foreign currency translation reserve |
Cash flow hedging reserve |
Other reserves (2) |
|||||||||||||||||||||||||||||||||||||||
As at April 1, 2019 |
||||||||||||||||||||||||||||||||||||||||||||||||
Adjustment on adoption of IFRS 16 |
— |
— |
— |
( |
) |
— |
— |
— |
— |
— |
( |
) |
— |
( |
) | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Adjusted balance as at April 1, 2019 |
||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income for the year |
||||||||||||||||||||||||||||||||||||||||||||||||
Profit for the |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other comprehensive income |
— | — | — | — | — | — | ( |
) | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total comprehensive income for the year |
— |
— |
— |
— |
— |
( |
) |
|||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Issue of equity shares on exercise of options |
— | ( |
) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Buyback of equity shares (3) |
( |
) | ( |
) | — | ( |
) | — | — | — | — | ( |
) |
— | ( |
) | ||||||||||||||||||||||||||||||||
Transaction cost related to buyback of equity shares |
— | — | — | ( |
) | — | — | — | — | — | ( |
) |
— |
( |
) | |||||||||||||||||||||||||||||||||
Issue of shares by controlled trust on exercise of options (1) |
— | — | — | ( |
) | — | — | — | — | — |
— | — |
||||||||||||||||||||||||||||||||||||
Compensation cost related to employee share-based payment |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Effect of modification of ADS RSUs from equity settled to cash settled (4) |
— | — | — | — | ( |
) | — | — | — | — | ( |
) |
— |
( |
) | |||||||||||||||||||||||||||||||||
Transferred to special economic zone re-investment reserve |
— | — | — | ( |
) | — | — | — | — | — |
— |
— |
||||||||||||||||||||||||||||||||||||
Dividend (including dividend tax thereon) (3) |
— | — | — | ( |
) | — | — | — | — | — | ( |
) |
— | ( |
) | |||||||||||||||||||||||||||||||||
Dividend to Non-controlling interests holders |
— | — | — | — | — | — | — | — | — | — |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Other transactions for the year |
( |
) |
( |
) |
( |
) |
( |
) |
— |
— |
( |
) |
( |
) |
( |
) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
As at March 31, 2020 |
( |
) |
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other components of equity |
Equity attributable to the equity holders of the Company |
Non-controlling interests |
Total equity |
|||||||||||||||||||||||||||||||||||||||||||||
Particulars |
Number of Shares (1) |
Share capital, fully paid-up |
Share premium |
Retained earnings |
Share- based payment reserve |
Special Economic Zone Re-investment reserve |
Foreign currency translation reserve |
Cash flow hedging reserve |
Other reserves (2) |
|||||||||||||||||||||||||||||||||||||||
As at April 1, 2020 |
( |
) |
||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income for the year |
||||||||||||||||||||||||||||||||||||||||||||||||
Profit for the year |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other comprehensive income |
— | — | — | — | — | — | ( |
) | ( |
) | ||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total comprehensive income for the year |
— |
— |
— |
— |
— |
( |
) |
|||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Issue of equity shares on exercise of options |
— | ( |
) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Buyback of equity shares, including tax thereon (3) |
( |
) | ( |
) | ( |
) | ( |
) | — | — | — | — | ( |
) |
— | ( |
) | |||||||||||||||||||||||||||||||
Transaction cost related to buyback of equity shares |
— | — | — | ( |
) | — | — | — | — | — | ( |
) |
— | ( |
) | |||||||||||||||||||||||||||||||||
Issue of shares by controlled trust on exercise of options (1) |
— | — | — | ( |
) | — | — | — | — | — |
— | — |
||||||||||||||||||||||||||||||||||||
Effect of modification of ADS RSUs from cash settled to equity settled (4) |
— | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
Compensation cost related to employee share-based payment |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Transferred from special economic zone re-investment reserve |
— | — | — | — | ( |
) | — | — | — | — |
— | — |
||||||||||||||||||||||||||||||||||||
Dividend (3) |
— | — | — | ( |
) | — | — | — | — | — | ( |
) |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||
Others |
— | — | — | — | — | — | — | — | — | — |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Other transactions for the year |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) |
— |
— |
( |
) |
( |
) |
( |
) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
As at March 31, 2021 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes form an integral part of these consolidated financial statements. |
Other components of equity |
Equity attributable to the equity holders of the Company |
Non-controlling interests |
Total equity |
|||||||||||||||||||||||||||||||||||||||||||||
Particulars |
Number of Shares (1) |
Share capital, fully paid-up |
Share premium |
Retained earnings |
Share- based payment reserve |
Special Economic Zone Re-investment reserve |
Foreign currency translation reserve |
Cash flow hedging reserve |
Other reserves (2) |
|||||||||||||||||||||||||||||||||||||||
As at April 1, 2021 |
||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income for the year |
||||||||||||||||||||||||||||||||||||||||||||||||
Profit for the year |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Other comprehensive income |
— | — | — | — | — | — | ( |
) | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total comprehensive income for the year |
— |
— |
— |
— |
— |
( |
) |
|||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Issue of equity shares on exercise of options |
— | ( |
) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Issue of shares by controlled trust on exercise of options (1) |
— | — | — | ( |
) | — | — | — | — | — |
— | — |
||||||||||||||||||||||||||||||||||||
Compensation cost related to employee share-based payment |
— | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||
Transferred to special economic zone re-investment reserve |
— | — | — | ( |
) | — | — | — | — | — |
— | — |
||||||||||||||||||||||||||||||||||||
Dividend (3) |
— | — | — | ( |
) | — | — | — | — | — | ( |
) |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||
Others |
— | — | — | — | — | — | — | — | — | — |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Other transactions for the year |
( |
) |
— |
— |
— |
( |
) |
( |
) |
( |
) | |||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
As at March 31, 2022 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Convenience translation into US dollar in millions (unaudited) Refer to Note 2(iii) |
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( 1 ) |
Includes |
(2) |
Refer to Note 20 |
(3) |
Refer to Note 22 |
(4) |
Refer to Note 30 |
Year ended March 31, |
||||||||||||||||
2020 |
2021 |
2022 |
2022 |
|||||||||||||
Convenience translation into US dollar in millions (unaudited) Refer to Note 2(iii) |
||||||||||||||||
Cash flows from operating activities: |
||||||||||||||||
Profit for the year |
||||||||||||||||
Adjustments to reconcile profit for the year to net cash generated from operating activities: |
||||||||||||||||
Gain on sale of property, plant and equipment, net |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Depreciation, amortization and impairment expense |
||||||||||||||||
Unrealized exchange (gain)/loss, net and exchange (gain)/loss on borrowings |
( |
) | ( |
) | ( |
) | ||||||||||
Share-based compensation expense |
||||||||||||||||
Share of net profit of associates accounted for using the equity method |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Income tax expense |
||||||||||||||||
Finance and other income, net of finance expense |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
(Gain)/loss from sale of business and investment accounted for using the method |
( |
) | ( |
) | ( |
) | ||||||||||
Gain on derecognition of contingent consideration payable |
( |
) | ( |
) | ||||||||||||
Changes in operating assets and liabilities; net of effects from acquisitions: |
||||||||||||||||
Trade receivables |
( |
) | ( |
) | ( |
) | ||||||||||
Unbilled receivables and Contract assets |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Inventories |
( |
) | ( |
) | ||||||||||||
Other assets |
( |
) | ( |
) | ( |
) | ||||||||||
Trade payables, accrued expenses, other liabilities and provisions |
( |
) | ||||||||||||||
Contract liabilities |
( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Cash generated from operating activities before taxes |
||||||||||||||||
Income taxes paid, net |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net cash generated from operating activities |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Cash flows from investing activities: |
||||||||||||||||
Payment for purchase of property, plant and equipment |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Proceeds from disposal of property, plant and equipment |
||||||||||||||||
Payment for purchase of investments |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Proceeds from sale of investments |
||||||||||||||||
Payment into restricted |
( |
) | ( |
) | ||||||||||||
Payment for business acquisitions including deposits and escrow, net of cash acquired |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Proceeds from sale of business |
||||||||||||||||
Proceeds from sale of investment accounted for using the equity method |
||||||||||||||||
Interest received |
||||||||||||||||
Dividend received |
^ | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net cash generated from/(used in) investing activities |
( |
) |
( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Cash flows from financing activities: |
||||||||||||||||
Proceeds from issuance of equity shares and shares pending allotment |
^ | |||||||||||||||
Repayment of loans and borrowings |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Proceeds from loans and borrowings |
||||||||||||||||
Payment of lease liabilities |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Payment for buyback of equity shares, including transaction cost |
( |
) | ( |
) | ||||||||||||
Payment of tax on buyback of equity shares |
( |
) | ||||||||||||||
Payment for deferred contingent consideration |
( |
) | ( |
) | ||||||||||||
Interest and finance expenses paid |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Payment of dividend |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Payment of tax on cash dividend |
( |
) | ||||||||||||||
Payment of dividend to Non-controlling interests holders |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Net cash generated from/(used in) financing activities |
( |
) |
( |
) |
||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net increase/ (decrease) in cash and cash equivalents during the year |
( |
) | ( |
) | ( |
) | ||||||||||
Effect of exchange rate changes on cash and cash equivalents |
( |
) | ||||||||||||||
Cash and cash equivalents at the beginning of the year |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Cash and cash equivalents at the end of the year (Note 11) |
||||||||||||||||
|
|
|
|
|
|
|
|
^ |
Value is less than 1 |
a. | Derivative financial instruments, |
b. | Financial instruments classified as fair value through other comprehensive income or fair value through profit or loss, |
c. | The defined benefit liability/(asset) is recognized as the present value of defined benefit obligation less fair value of plan assets; and |
d. | Contingent consideration. |
a) |
Revenue recognition |
b) |
Impairment testing value-in-use |
c) |
Income taxes |
Significant judgments are involved in determining the provision for income taxes including judgment on whether tax positions are probable of being sustained in tax assessments. A tax assessment can involve complex issues, which can only be resolved over extended time periods. |
Deferred tax is recorded on temporary differences between the tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carry-forwards become deductible. The Company considers expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of deferred tax assets considered realizable, however, could reduce in the near term if estimates of future taxable income during the carry-forward period are reduced. |
d) |
Business combinations |
e) |
Defined benefit plans and compensated absences |
f) |
Expected credit losses on financial assets: |
g) |
Useful lives of property, plant and equipment |
h) |
Useful lives of intangible assets |
i) |
Provisions and contingent liabilities: |
j) |
Uncertainty relating to the global health pandemic on COVID-19: ss |
• | financial assets which include cash and cash equivalents, trade receivables, unbilled receivables, finance lease receivables, employee and other advances, investments in equity and debt securities and eligible current and non-current assets; Financial assets are derecognized when substantial risks and rewards of ownership of the financial asset have been transferred. In cases where substantial risks and rewards of ownership of the financial assets are neither transferred nor retained, financial assets are derecognized only when the Company has not retained control over the financial asset. |
• | financial liabilities which include long and short-term loans and borrowings, bank overdrafts, trade payables and accrued expenses, lease liabilities and eligible current and non-current liabilities. |
• | the asset is held within a business model whose objective is to hold assets in order to collect contractual cash flows; and |
• | the contractual terms of the instrument give rise on specified dates to cash flows that are solely payment of principal and interest on the principal amount outstanding. |
• | the asset is held within a business model whose objective is achieved both by collecting contractual cash flows and selling the financial asset; and |
• | the contractual terms of the instrument give rise on specified dates to cash flows that are solely payment of principal and interest on the principal amount outstanding. |
Category |
Useful life |
|||
Buildings | |
| ||
Plant and equipment | |
| ||
Computer equipment and software | |
| ||
Furniture, fixtures and equipment | |
| ||
Vehicles | |
|
Category |
Useful life |
|||
Customer-related intangibles |
|
| ||
Marketing-related intangibles |
|
|
• |
Any change in scope or price is considered to be a contract modification. The Company accounts for modifications to existing contracts by assessing whether the services added are distinct and whether the pricing is at the stand-alone selling price. Services added that are not distinct are accounted for on a cumulative catch up basis, while those that are distinct are accounted for prospectively, either as a separate contract if the additional services are priced at the stand-alone selling price, or as a termination of the existing contract and creation of a new contract if not priced at the stand-alone selling price. |
• |
The Company accounts for variable considerations like volume discounts, rebates and pricing incentives to customers and penalties as reduction of revenue on a systematic and rational basis over the period of the contract. The Company estimates an amount of such variable consideration using expected value method or the single most likely amount in a range of possible consideration depending on which method better predicts the amount of consideration to which the Company may be entitled and when it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. |
• |
Revenues are shown net of allowances / returns, sales tax, value added tax, goods and services tax and applicable discounts and allowances. |
• |
The Company accrues the estimated cost of warranties at the time when the revenue is recognized. The accruals are based on the Company’s historical experience of material usage and service delivery costs. |
• |
Incremental costs that relate directly to a contract and incurred in securing a contract with a customer are recognized as an asset when the Company expects to recover these costs and amortized over the contract term. |
• |
The Company recognizes contract fulfilment cost as an asset if those costs specifically relate to a contract or to an anticipated contract, the costs generate or enhance resources that will be used in satisfying performance obligations in future; and the costs are expected to be recovered. The asset so recognized is amortized on a systematic basis consistent with the transfer of goods or services to customer to which the asset relates. |
• |
The Company assesses the timing of the transfer of goods or services to the customer as compared to the timing of payments to determine whether a significant financing component exists. As a practical expedient, the Company does not assess the existence of a significant |
financing component when the difference between payment and transfer of deliverables is a year or less. If the difference in timing arises for reasons other than the provision of finance to either the customer or us, no financing component is deemed to exist. |
• |
The Company may enter into arrangements with third-party suppliers to resell products or services. In such cases, the Company evaluates whether the Company is the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis). In doing so, the Company first evaluates whether the Company controls the good or service before it is transferred to the customer. If Company controls the good or service before it is transferred to the customer, Company is the principal; if not, the Company is the agent. |
• |
Estimates of transaction price and total costs or efforts are continuously monitored over the term of the contract and are recognized in net profit in the period when these estimates change or when the estimates are revised. Revenues and the estimated total costs or efforts are subject to revision as the contract progresses. |
Land |
Buildings |
Plant and equipment (1) |
Furniture fixtures and equipment |
Vehicles |
Total |
|||||||||||||||||||
Gross carrying value: |
||||||||||||||||||||||||
As at April 1, 2020 |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
||||||||||||||||||
Additions |
||||||||||||||||||||||||
Additions through Business combinations |
— | — | — | |||||||||||||||||||||
Disposals |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Translation adjustment |
( |
) | | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
As at March 31, 2021 |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
||||||||||||||||||
Accumulated depreciation/ impairment: |
||||||||||||||||||||||||
As at April 1, 2020 |
₹ |
— | ₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||
Depreciation and impairment (2) |
— | |||||||||||||||||||||||
Disposals |
— | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||
Translation adjustment |
— | — | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
As at March 31, 2021 |
₹ |
— |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||
Capital work-in-progress |
₹ |
|||||||||||||||||||||||
|
|
|||||||||||||||||||||||
Net carrying value including Capital work-in-progress |
₹ |
|||||||||||||||||||||||
|
|
|||||||||||||||||||||||
Gross carrying value: |
||||||||||||||||||||||||
As at April 1, 2021 |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
||||||||||||||||||
Additions |
||||||||||||||||||||||||
Additions through Business combinations |
— | — | ||||||||||||||||||||||
Disposals |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Translation adjustment |
( |
) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
As at March 31, 2022 |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
||||||||||||||||||
Accumulated depreciation/ impairment: |
||||||||||||||||||||||||
As at April 1, 2021 |
₹ |
— | ₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||
Depreciation and impairment (2) |
— | |||||||||||||||||||||||
Disposals |
— | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||||
Translation adjustment |
— | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
As at March 31, 2022 |
₹ |
— |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||
Capital work-in-progress |
₹ |
|||||||||||||||||||||||
|
|
|||||||||||||||||||||||
Net carrying value including Capital work-in-progress |
₹ |
|||||||||||||||||||||||
|
|
(1) |
Including net carrying value of computer equipment and software amounting to ₹ ₹ |
( 2 ) |
Includes impairment charge on certain software platforms amounting to ₹ ₹ ₹ |
Category of Right-of-Use |
||||||||||||||||||||
Land |
Buildings |
Plant and equipment * |
Vehicles |
Total |
||||||||||||||||
Gross carrying value: |
||||||||||||||||||||
As at April 1, 2020 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
Additions |
||||||||||||||||||||
Additions through Business combinations |
— | — | ||||||||||||||||||
Disposals |
— | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
Translation adjustment |
— | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
As at March 31, 2021 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
Accumulated depreciation: |
||||||||||||||||||||
As at April 1, 2020 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
Depreciation |
||||||||||||||||||||
Disposals |
— | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
Translation adjustment |
— | ( |
) | ( |
) | ( |
) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
As at March 31, 2021 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
|
|
|||||||||||||||||||
Net carrying value as at March 31, 2021 |
₹ |
|||||||||||||||||||
|
|
Gross carrying value: |
||||||||||||||||||||
As at April 1, 2021 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
Additions |
||||||||||||||||||||
Additions through Business combinations |
— | — | ||||||||||||||||||
Disposals |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
Translation adjustment |
— | ( |
) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
As at March 31, 2022 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
Accumulated depreciation: |
||||||||||||||||||||
As at April 1, 2021 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
Depreciation |
||||||||||||||||||||
Disposals |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
Translation adjustment |
— | ( |
) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
As at March 31, 2022 |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||
|
|
|||||||||||||||||||
Net carrying value as at March 31, 2022 |
₹ |
|||||||||||||||||||
|
|
* |
Including net carrying value of computer equipment amounting to ₹ ₹ |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Interest expenses on lease liabilities |
₹ |
|
₹ |
|
₹ |
|||||||
Rent expense recognized under facility expenses pertaining to: |
||||||||||||
Leases of low-value assets |
||||||||||||
Leases with less than twelve months of lease term |
||||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
Balance at the beginning of the year |
₹ |
₹ |
||||||
Translation adjustment |
( |
) | ||||||
Acquisition through business combinations* (Refer to Note 7) |
||||||||
|
|
|
|
|||||
Balance at the end of the year |
₹ |
₹ |
||||||
|
|
|
|
* | Acquisition through business combinations for the year ended March 31, 2021 and 2022 is after considering the impact of ₹ ₹ |
Year ended March 31, |
||||||||
CGUs |
2021 |
2022 |
||||||
Americas 1 |
₹ |
₹ |
||||||
Americas 2 |
||||||||
Europe |
||||||||
Asia Pacific Middle East Africa |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
Intangible assets |
||||||||||||
Customer-related |
Marketing-related |
Total |
||||||||||
Gross carrying value: |
||||||||||||
As at April 1, 2020 |
₹ |
₹ |
₹ |
|||||||||
Acquisition through business combinations (Refer to Note 7) |
||||||||||||
Deductions/ a djustments |
( |
) | ( |
) | ( |
) | ||||||
Translation adjustment |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
As at March 31, 2021 |
₹ |
₹ |
₹ |
|||||||||
Accumulated amortization/ impairment: |
||||||||||||
As at April 1, 2020 |
₹ |
₹ |
₹ |
|||||||||
Amortization and impairment * |
||||||||||||
Deductions/ a djustments |
( |
) | ( |
) | ( |
) | ||||||
Translation adjustment |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
As at March 31, 2021 |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
|||||||
Net carrying value as at March 31, 2021 |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
|||||||
Gross carrying value: |
||||||||||||
As at April 1, 2021 |
₹ |
₹ |
₹ |
|||||||||
Acquisition through business combinations (Refer to Note 7) |
||||||||||||
Deductions/ a djustments |
( |
) | ( |
) | ( |
) | ||||||
Translation adjustment |
||||||||||||
|
|
|
|
|
|
|||||||
As at March 31, 2022 |
₹ |
₹ |
₹ |
|||||||||
Accumulated amortization/ impairment: |
||||||||||||
As at April 1, 2021 |
₹ |
₹ |
₹ |
|||||||||
Amortization and impairment * |
||||||||||||
Deductions/ a djustments |
( |
) | ( |
) | ( |
) | ||||||
Translation adjustment |
||||||||||||
|
|
|
|
|
|
|||||||
As at March 31, 2022 |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
|||||||
Net carrying value as at March 31, 2022 |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
* | During the year ended March 31, 2021, a change in business strategy of a customer led to a significant decline in the revenue and earnings estimates, resulting in revision of recoverable value of customer-relationship intangible assets recognized on business combination. Further, the Company integrated certain brands acquired as part of a business combination, resulting in discontinuance of the acquired brands. Consequently, the Company has recognized impairment charge ₹ for the year ended March 31, 2021 as part of amortization and impairment. |
* |
During the year ended March 31, 2021, due to change in our estimate of useful life of customer-related intangibles in an earlier business combination, the Company has recognized additional amortization charge of ₹ |
Acquisition |
Net carrying value |
Estimated remaining amortization period |
||||||
Capco - customer-related intangible |
₹ |
|
| |||||
Capco - marketing-related intangible |
||||||||
Edgile, LLC |
|
| ||||||
Ampion Holdings Pty Ltd |
|
- |
| |||||
Vara Infotech Private Limited |
|
- |
| |||||
Rational Interaction, Inc. |
|
- |
| |||||
Eximius Design, LLC |
|
- |
| |||||
4C NV |
|
- |
| |||||
IVIA Serviços de Informática Ltda |
|
| ||||||
International TechneGroup Incorporated |
|
| ||||||
LeanSwift Solutions Inc. |
- |
|||||||
Encore Theme Technologies Private Limited |
|
- |
| |||||
Others |
|
- |
| |||||
|
|
|
| |||||
Total |
|
| ||||||
|
|
|
|
a) |
₹ IVIA |
b) |
₹ 4C |
c) |
₹ ETT |
d) |
₹ Eximius |
Description |
Purchase price allocated |
|||
Net assets |
₹ |
|
||
Fair Value of Customer-related intangibles |
||||
Fair Value of Marketing-related intangibles |
||||
Deferred tax liabilities on intangible assets |
( |
) | ||
|
|
|||
Total |
₹ |
|||
Goodwill |
||||
|
|
|||
Total purchase price |
₹ |
|||
|
|
(a) |
Capco and its subsidiaries (“Capco”) end-to-end ₹ |
(b) |
Ampion Holdings Pty Ltd and its subsidiaries (“Ampion”) ₹ |
(c) |
Edgile, LLC (“Edgile”) US-based transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity. This acquisition helps address the fast-growing demand for transformational cybersecurity consulting among Global 2000 enterprises. Together, Wipro and Edgile will help enterprises enhance boardroom governance of cybersecurity risk, invest in robust cyber strategies, and reap the value of practical security in action. In collaboration with an extensive roster of alliance partners from Wipro and Edgile, we will enable organizations to accelerate their digital transformation and operate in virtual and digital supply chains. The acquisition was consummated on December 31, 2021 for total consideration (upfront cash payout to acquire control and contingent consideration) of ₹ |
(d) |
LeanSwift Solutions Inc. and its subsidiaries (“LeanSwift”) ₹ |
Description |
Capco |
Ampion |
Edgile |
LeanSwift |
||||||||||||
Net assets |
₹ |
₹ |
₹ |
₹ |
||||||||||||
Fair value of Customer-related intangibles |
||||||||||||||||
Fair value of Marketing-related intangibles |
||||||||||||||||
Deferred tax liabilities on intangible assets |
( |
) |
( |
) |
( |
) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
₹ |
₹ |
₹ |
₹ |
||||||||||||
Goodwill |
||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total purchase price |
₹ |
₹ |
₹ |
₹ |
||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Net Assets include: |
||||||||||||||||
Cash and cash equivalents |
₹ |
₹ |
₹ |
₹ |
||||||||||||
Fair value of acquired trade receivables included in net assets |
₹ |
₹ |
₹ |
₹ |
||||||||||||
Gross contractual amount of acquired trade receivables |
||||||||||||||||
Less: Allowance for lifetime expected credit loss |
( |
) |
( |
) | ||||||||||||
Transaction costs included in general and administrative expenses |
₹ |
₹ |
₹ |
₹ |
(a) |
Convergence Acceleration Solutions, LLC (“CAS Group”) US-based consulting and program management company that specializes in driving large-scale business and technology transformation for Fortune 100 communications service providers. The acquisition advances the Company’s strategic consulting capabilities as we help our clients drive large scale business and technology transformation. The acquisition was consummated on April 11, 2022 for total consideration (upfront cash to acquire control and contingent consideration) of ₹ |
Description |
CAS Group |
|||
Net assets |
₹ |
|||
Fair value of Customer-related intangibles |
||||
Total |
₹ |
|||
Goodwill |
||||
Total purchase price |
₹ |
|||
(b) |
Rizing Intermediate Holdings, Inc and its subsidiaries (“Rizing”) ₹ |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
||||||||
Financial instruments at FVTPL |
||||||||
Equity instruments |
₹ |
— |
₹ |
|||||
Fixed maturity plan mutual funds |
— |
|||||||
Financial instruments at FVTOCI |
||||||||
Equity instruments |
||||||||
Financial instruments at amortized cost |
||||||||
Inter corporate and term deposits * |
||||||||
₹ |
₹ |
|||||||
Current |
||||||||
Financial instruments at FVTPL |
||||||||
Short-term mutual funds |
₹ |
₹ |
||||||
Financial instruments at FVTOCI |
||||||||
Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds |
||||||||
Financial instruments at amortized cost |
||||||||
Inter corporate and term deposits* |
||||||||
₹ |
₹ |
|||||||
Total |
₹ |
₹ |
||||||
As at March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Carrying amount of the Company’s interest in associates accounted for using the equity method |
₹ |
|
₹ |
|
₹ |
For the year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Company’s share of net profit / (loss) of associates accounted for using the equity method in consolidated statement of income |
₹ |
₹ |
₹ |
Carrying value |
||||||||
As at March 31, |
||||||||
Particulars |
2021 |
2022 |
||||||
Non-current |
||||||||
Tricentis Corporation |
₹ |
₹ |
||||||
YugaByte, Inc. |
||||||||
TLV Partners, L.P. |
||||||||
Vectra Networks, Inc |
||||||||
CyCognito Ltd. |
||||||||
TLV Partners II, L.P. |
||||||||
Immuta, Inc. |
||||||||
Incorta , Inc. |
||||||||
Harte Hanks Inc. |
||||||||
B Capital Fund II, L.P. |
||||||||
Work-Bench Ventures II-A, LP |
||||||||
Tradeshift Inc. |
||||||||
Boldstart Ventures IV, L.P. |
||||||||
Vicarious FPC, Inc. |
||||||||
Boldstart Opportunities II, L.P. |
||||||||
Glilot Capital Partners III L.P. |
||||||||
TLV Partners III, L.P. |
||||||||
Avaamo Inc. |
||||||||
Vulcan Cyber Ltd. |
||||||||
Sealights Technologies Ltd. |
||||||||
Netspring Data, Inc. |
||||||||
Headspin Inc. |
||||||||
Moogsoft (Herd) Inc. |
||||||||
Squadcast, Inc. |
||||||||
Wep Peripherals Ltd. |
||||||||
Wep Solutions Limited |
||||||||
Work-Bench Ventures III-A, LP |
||||||||
Altizon Systems Private Limited |
||||||||
Drivestream India Private Limited |
||||||||
CloudKnox Security Inc. |
||||||||
IntSights Cyber Intelligence Limited |
||||||||
Ensono Holdings, LLC |
||||||||
Total |
₹ |
₹ |
||||||
Carrying value |
||||||||
As at March 31, |
||||||||
Particulars |
2021 |
2022 |
||||||
Non-current |
||||||||
Lilt, Inc. |
|
₹ |
— |
|
|
₹ |
|
|
YugaByte, Inc. |
|
|
— |
|
|
|
|
|
CyCognito Ltd. |
|
|
— |
|
|
|
|
|
Nexus Ventures VI, L.P. |
|
|
— |
|
|
|
|
|
Functionize, Inc. |
|
|
— |
|
|
|
|
|
vFunction Inc. |
|
|
— |
|
|
|
|
|
SYN Ventures Fund LP |
|
|
— |
|
|
|
|
|
Sealights Technologies Ltd . |
|
|
— |
|
|
|
|
|
Incorta , Inc. |
|
|
— |
|
|
|
|
|
TLV Partners IV, L.P. |
|
|
— |
|
|
|
|
|
Boldstart Opportunities III, L.P. |
|
|
— |
|
|
|
|
|
Sorenson Ventures, L.P. |
|
|
— |
|
|
|
|
|
Glilot Capital Partners IV, L.P |
|
|
— |
|
|
|
|
|
Altizon Systems Private Limited |
|
|
— |
|
|
|
|
|
Total |
₹ |
— |
₹ |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Trade receivables |
₹ |
₹ |
||||||
Allowance for lifetime expected credit loss |
( |
) | ( |
) | ||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
|||||
Non-current |
||||||||
Current |
||||||||
|
|
|
|
|
|
|
|
|
The activity in the allowance for lifetime expected credit loss is given below: |
||||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Balance at the beginning of the year |
₹ |
|
₹ |
|
||||
Additions / (write-back), net (Refer to Note 25) |
( |
) | ||||||
Charged against allowance |
( |
) | ( |
) | ||||
Translation adjustment |
||||||||
|
|
|
|
|||||
Balance at the end of the year |
₹ |
₹ |
||||||
|
|
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Stores and spare parts |
₹ |
₹ |
||||||
Finished and traded goods |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
As at March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Cash and bank balances |
₹ |
₹ |
₹ |
|||||||||
Demand deposits with banks * |
||||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
* |
These deposits can be withdrawn by the Company at any time without prior notice and without any penalty on the principal. |
|
As at March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Cash and cash equivalents (as above) |
₹ |
₹ |
₹ |
|||||||||
Bank overdrafts |
( |
) | ( |
) | ( |
) | ||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
||||||||
Security deposits |
₹ |
₹ |
||||||
Interest receivables |
||||||||
Finance lease receivables |
||||||||
Others |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
Current |
||||||||
Security deposits |
₹ |
₹ |
||||||
Dues from officers and employees |
||||||||
Interest receivables |
||||||||
Finance lease receivables |
||||||||
Deposit in interim dividend account |
||||||||
Others |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
Minimum lease payments |
|
Present value of minimum lease payments | ||||||||||||||||
As at March 31, |
||||||||||||||||||
2021 |
2022 |
2021 |
2022 |
|||||||||||||||
Not later than one year |
₹ |
₹ |
|
|
₹ |
₹ |
||||||||||||
Later than one year but not later than five years |
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
Gross investment in lease |
|
|
||||||||||||||||
Less: Unearned finance income |
( |
) | ( |
) | |
|
— | — | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
Present value of minimum lease payment receivables |
₹ |
₹ |
|
|
₹ |
₹ |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
Non-current |
|
|
||||||||||||||||
Current |
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
|
|
|
|
|
|
|
|
Prepaid expenses |
₹ |
₹ |
||||||
Costs to obtain contract |
||||||||
Costs to fulfil contract |
||||||||
Others (Refer to Note 35) |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
Current |
||||||||
Prepaid expenses |
₹ |
₹ |
||||||
Dues from officers and employees |
||||||||
Advance to suppliers |
||||||||
Balance with GST and other authorities |
||||||||
Costs to obtain contract |
||||||||
Costs to fulfil contract |
||||||||
Others |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
* | Costs to obtain contract amortization of ₹ ₹ ₹ |
** | Costs to fulfil contract amortization of ₹ ₹ ₹ |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
||||||||
Unsecured Notes 2026 * |
₹ |
₹ |
||||||
Borrowings from banks |
||||||||
Loans from institutions other than banks |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
|||||
Current |
||||||||
Bank overdrafts |
₹ |
₹ |
||||||
Borrowings from Banks |
||||||||
Loans from institutions other than banks |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
* |
On June 23, 2021, Wipro IT Services LLC, a wholly owned step-down subsidiary of Wipro Limited, issued US$ ₹ (SGX-ST). |
As at March 31, 2021 |
As at March 31, 2022 |
|||||||||||||||||||
Currency |
Foreign currency in millions |
Indian Rupee |
Foreign currency in millions |
Indian Rupee |
Final maturity |
|||||||||||||||
Unsecured Notes 2026 |
||||||||||||||||||||
U.S. Dollar (US$) |
— | — | ||||||||||||||||||
Unsecured loans |
||||||||||||||||||||
U.S. Dollar (US$) |
— | — | ||||||||||||||||||
Canadian Dollar (CAD) |
^ | — | — | |||||||||||||||||
Indian Rupee (INR) |
— | — | ||||||||||||||||||
Australian Dollar (AUD) |
^ | — | — | |||||||||||||||||
Pound Sterling (GBP) |
^ | — | — | |||||||||||||||||
Euro (EUR) |
^ | ^ | ||||||||||||||||||
₹ |
₹ |
|||||||||||||||||||
Non-current portion of long-term loans and borrowings |
||||||||||||||||||||
Current portion of long-term loans and borrowings |
^ | Value is less than 1 |
Non-cash changes |
||||||||||||||||||||||||||||
April 1, 2020 |
Cash flow |
Issue expenses on Notes |
Net additions to Lease Liabilities |
Effective interest rate adjustment |
Foreign exchange movements |
March 31, 2021 |
||||||||||||||||||||||
Borrowings |
₹ |
77,647 | ₹ |
₹ |
— | ₹ |
— | ₹ |
— | ₹ |
( |
) | ₹ |
|||||||||||||||
Bank overdrafts |
395 | ( |
) | — | — | — | — | |||||||||||||||||||||
Lease Liabilities |
19,198 | ( |
) | — | — | |||||||||||||||||||||||
₹ |
97,240 |
₹ (2,713 |
) |
₹ |
— | ₹ |
₹ |
— |
₹ |
( |
) |
₹ |
||||||||||||||||
Non-cash changes |
||||||||||||||||||||||||||||
April 1, 2021 |
Cash flow |
Issue expenses on Notes |
Net additions to Lease Liabilities |
Effective interest rate adjustment |
Foreign exchange movements |
March 31, 2022 |
||||||||||||||||||||||
Borrowings |
₹ |
83,202 | ₹ |
₹ |
( |
) | ₹ |
— | ₹ |
₹ |
₹ |
|
||||||||||||||||
Bank overdrafts |
130 | ( |
) | — | — | — | — | |||||||||||||||||||||
Lease Liabilities |
21,182 | ( |
) | — | — | |||||||||||||||||||||||
₹ |
104,514 |
₹ |
₹ |
( |
) | ₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Trade payables |
₹ |
₹ |
||||||
Accrued expenses |
||||||||
₹ |
₹ |
|||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
||||||||
Contingent consideration (Refer to Note 19) |
||||||||
Advance from customers |
||||||||
Cash Settled ADS RSUs |
₹ |
₹ |
||||||
Deposits and others |
||||||||
₹ |
₹ |
|||||||
Current |
||||||||
Contingent consideration (Refer to Note 19) |
||||||||
Advance from customers |
||||||||
Cash Settled ADS RSUs |
₹ |
₹ |
||||||
Interim dividend payable |
||||||||
Deposits and others |
||||||||
₹ |
₹ |
|||||||
₹ |
₹ |
|||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
||||||||
Employee benefits obligations |
₹ |
₹ |
||||||
Others |
||||||||
₹ |
₹ |
|||||||
Current |
||||||||
Statutory and other liabilities |
₹ |
₹ |
||||||
Employee benefits obligations |
||||||||
Advance from customers |
||||||||
Others |
||||||||
₹ |
₹ |
|||||||
₹ |
₹ |
|||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Non-current |
||||||||
Provision for warranty |
₹ |
₹ |
||||||
₹ |
₹ |
|||||||
Current |
||||||||
Provision for warranty |
₹ |
₹ |
||||||
Provision for onerous contracts* |
||||||||
Others |
||||||||
₹ |
₹ |
|||||||
₹ |
₹ |
|||||||
* |
For the year ended March 31, 2021, provision for onerous contracts was included under Trade payables and accrued expenses in the statement of financial position and has been reclassified under Provisions. |
Year ended March 31, 2021 |
Year ended March 31, 2022 |
|||||||||||||||||||||||||||||||
Provision for warranty |
Provision for onerous contracts |
Others |
Total |
Provision for warranty |
Provision for onerous contracts |
Others |
Total |
|||||||||||||||||||||||||
Balance at the beginning of the year |
₹ |
319 | ₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||
Additional provision during the year |
245 | |||||||||||||||||||||||||||||||
Utilized/written-back during the year |
(349 | ) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
Balance at the end of the year |
₹ |
215 |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Financial Assets: |
||||||||
Cash and cash equivalents |
₹ |
₹ |
||||||
Investments |
||||||||
Financial instruments at FVTPL |
||||||||
Financial instruments at FVTOCI |
||||||||
Financial instruments at Amortized cost |
||||||||
Other financial assets |
||||||||
Trade receivables |
||||||||
Unbilled receivables |
||||||||
Other assets |
||||||||
Derivative assets |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
|||||
Financial Liabilities: |
||||||||
Trade payables and other liabilities |
||||||||
Trade payables and accrued expenses |
₹ |
₹ |
||||||
Lease liabilities |
||||||||
Other liabilities |
||||||||
Loans, borrowings and bank overdrafts |
||||||||
Derivative liabilities |
||||||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
Financial assets |
||||||||||||
Gross amounts of recognized other financial assets |
Gross amounts of recognized financial liabilities set off in the statement of financial position |
Net amounts of recognized other financial assets presented in the statement of financial position |
||||||||||
As at March 31, 2021 |
₹ |
₹ |
( |
₹ |
||||||||
As at March 31, 2022 |
₹ |
₹ |
( |
) |
₹ |
Financial liabilities |
||||||||||||
Gross amounts of recognized trade payables and other payables |
Gross amounts of recognized financial liabilities set off in the statement of financial position |
Net amounts of recognized trade payables and other payables presented in the statement of financial position |
||||||||||
As at March 31, 2021 |
₹ |
₹ |
( |
) |
₹ |
|||||||
As at March 31, 2022 |
₹ |
₹ |
( |
) |
₹ |
Particular |
As at March 31, 2021 |
As at March 31, 2022 |
||||||||||||||||||||||||||||||
Fair value measurements at reporting date |
Fair value measurements at reporting date |
|||||||||||||||||||||||||||||||
Total |
Level 1 |
Level 2 |
Level 3 |
Total |
Level 1 |
Level 2 |
Level 3 |
|||||||||||||||||||||||||
Assets |
||||||||||||||||||||||||||||||||
Derivative instruments: |
||||||||||||||||||||||||||||||||
Cash flow hedges |
₹ |
₹ |
— | ₹ |
₹ |
— | ₹ |
₹ |
₹ |
₹ |
||||||||||||||||||||||
Others |
— | — | ||||||||||||||||||||||||||||||
Investments: |
||||||||||||||||||||||||||||||||
Short-term mutual funds |
— | — | ||||||||||||||||||||||||||||||
Fixed maturity plan mutual funds |
— |
— | — | — | ||||||||||||||||||||||||||||
Equity instruments |
||||||||||||||||||||||||||||||||
Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds |
|
— | ||||||||||||||||||||||||||||||
Liabilities |
||||||||||||||||||||||||||||||||
Derivative instruments: |
||||||||||||||||||||||||||||||||
Cash flow hedges |
₹ |
( |
) |
₹ |
— | ₹ |
( |
) | ₹ |
— | ₹ |
( |
) |
₹ |
₹ |
( |
) | ₹ |
||||||||||||||
Others |
( |
) |
— | ( |
) | — | ( |
) |
( |
) | ||||||||||||||||||||||
Contingent consideration |
( |
) |
— | — | ( |
) | ( |
) |
( |
) |
As at March 31, |
||||||||
Investment in equity instruments |
2021 |
2022 |
||||||
Balance at the beginning of the year |
₹ |
₹ |
||||||
Additions |
||||||||
Disposals |
( |
) | ( |
) | ||||
Transfers out of level 3 |
( |
) | ||||||
Unrealized gain recognized in statement of income (Refer to Note 2 8 ) |
— | |||||||
Gain recognized in other comprehensive income |
||||||||
Translation adjustment |
( |
) | ||||||
|
|
|
|
|||||
Balance at the end of the year |
₹ |
₹ |
||||||
|
|
|
|
As at March 31, |
||||||||
Contingent consideration |
2021 |
2022 |
||||||
Balance at the beginning of the year |
₹ |
₹ |
( |
) | ||||
Additions |
( |
) | ( |
) | ||||
Reversals |
||||||||
Payouts |
||||||||
Finance expense recognized in statement of income |
( |
) | ( |
) | ||||
Translation adjustment |
( |
) | ||||||
|
|
|
|
|||||
Balance at the end of the year |
₹ |
( |
) |
₹ |
( |
) |
(in million) |
||||||||||||||||||||||||
As at March 31, |
||||||||||||||||||||||||
2021 |
2022 |
|||||||||||||||||||||||
Notional |
Fair value |
Notional |
Fair value |
|||||||||||||||||||||
Designated derivative instruments |
||||||||||||||||||||||||
Sell: Forward contracts |
USD | ₹ |
USD | ₹ |
||||||||||||||||||||
€ | ₹ |
€ | ₹ |
|||||||||||||||||||||
£ | ₹ |
( |
) | £ | ₹ |
|||||||||||||||||||
AUD | ₹ |
( |
) | AUD | ₹ |
( |
) | |||||||||||||||||
Range forward option contracts |
USD | ₹ |
USD | ₹ |
||||||||||||||||||||
€ | ₹ |
€ | ₹ |
|||||||||||||||||||||
£ | ₹ |
( |
) | £ | ₹ |
|||||||||||||||||||
AUD | ₹ |
( |
) | AUD | ₹ |
( |
) | |||||||||||||||||
Non-designated derivative instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Sell: Forward contracts * |
USD | ₹ |
USD | ₹ |
||||||||||||||||||||
€ | ₹ |
€ | ₹ |
|||||||||||||||||||||
£ | ₹ |
£ | ₹ |
|||||||||||||||||||||
AUD | ₹ |
AUD | ₹ |
( |
) | |||||||||||||||||||
SGD | ₹ |
SGD | ₹ |
( |
) | |||||||||||||||||||
ZAR | ₹ |
( |
) | ZAR | ₹ |
^ | ||||||||||||||||||
CAD | ₹ |
CAD | ₹ |
( |
) | |||||||||||||||||||
SAR | ₹ |
( |
) | SAR | ₹ |
( |
) | |||||||||||||||||
PLN | ₹ |
PLN | ₹ |
( |
) | |||||||||||||||||||
CHF | ₹ |
CHF | ₹ |
( |
) | |||||||||||||||||||
QAR | ₹ |
( |
) | QAR | ₹ |
( |
) | |||||||||||||||||
TRY | ₹ |
TRY | ₹ |
|||||||||||||||||||||
NOK | ₹ |
^ | NOK | ₹ |
( |
) | ||||||||||||||||||
OMR | ₹ |
( |
) | OMR | ₹ |
^ | ||||||||||||||||||
SEK | ₹ |
SEK | ₹ |
( |
) | |||||||||||||||||||
JPY | ₹ |
JPY | ₹ |
|||||||||||||||||||||
DKK | ₹ |
DKK | ₹ |
^ | ||||||||||||||||||||
Buy: Forward contracts |
SEK | ₹ |
( |
) | SEK | ₹ |
||||||||||||||||||
DKK | ₹ |
( |
) | DKK | ₹ |
( |
) | |||||||||||||||||
CHF | ₹ |
( |
) | CHF | ₹ |
( |
) | |||||||||||||||||
RMB | ₹ |
( |
) | RMB | ₹ |
|||||||||||||||||||
AED | ₹ |
^ | AED | ₹ |
^ | |||||||||||||||||||
JPY | ₹ |
JPY | ₹ |
( |
) | |||||||||||||||||||
CNH | ₹ |
CNH | ₹ |
^ | ||||||||||||||||||||
NOK | ₹ |
NOK | ₹ |
( |
) | |||||||||||||||||||
Interest Rate Swaps |
INR | ₹ |
INR | ₹ |
||||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
₹ |
₹ |
|||||||||||||||||||||||
|
|
|
|
* | USD |
^ | Value is less than ₹ |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Balance as at the beginning of the year |
₹ |
( |
) | ₹ |
||||
|
|
|
|
|
|
|
|
|
Changes in fair value of effective portion of derivatives |
||||||||
Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged transactions * |
( |
) | ||||||
|
|
|
|
|||||
Gain/(loss) on cash flow hedging derivatives, net |
₹ |
₹ |
( |
) | ||||
|
|
|
|
|||||
Balance as at the end of the year |
||||||||
Deferred tax thereon |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Balance as at the end of the year, net of deferred ta x |
₹ |
₹ |
||||||
|
|
|
|
* | Includes net (gain)/loss reclassified to revenue of ₹ ₹ ₹ ₹ |
As at March 31, 2021 |
||||||||||||||||||||||||||||
US $ |
Euro |
Pound Sterling |
Australian Dollar |
Canadian Dollar |
Other currencies # |
Total |
||||||||||||||||||||||
Trade receivables |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||
Unbilled receivables |
||||||||||||||||||||||||||||
Contract assets |
||||||||||||||||||||||||||||
Cash and cash equivalents |
||||||||||||||||||||||||||||
Other assets |
||||||||||||||||||||||||||||
Lease Liabilities |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) | ||||||||||||||
Trade payables, accrued expenses and other liabilities |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) |
( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net assets/ (liabilities) |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at March 31, 2022 |
||||||||||||||||||||||||||||
US $ |
Euro |
Pound Sterling |
Australian Dollar |
Canadian Dollar |
Other currencies # |
Total |
||||||||||||||||||||||
Trade receivables |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||
Unbilled receivables |
||||||||||||||||||||||||||||
Contract assets |
||||||||||||||||||||||||||||
Cash and cash equivalents |
||||||||||||||||||||||||||||
Other assets |
||||||||||||||||||||||||||||
Lease Liabilities |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
Trade payables, accrued expenses and other liabilities |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net assets/ (liabilities) |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
# |
Other currencies reflect currencies such as Swiss Franc, Singapore Dollar, UAE Dirhams etc. |
As at March 31, 2021 |
||||||||||||||||||||||||
Carrying value |
Less than 1 year |
1-2 years |
2-4 years |
Beyond 4 years |
Total |
|||||||||||||||||||
Loans, borrowings and bank overdrafts * |
₹ |
₹ |
₹ |
₹ |
₹ |
— | ₹ |
|||||||||||||||||
Lease Liabilities * |
||||||||||||||||||||||||
Trade payables and accrued expenses |
— | — | — | |||||||||||||||||||||
Derivative liabilities |
— | |||||||||||||||||||||||
Other liabilities # |
— |
As at March 31, 2022 |
||||||||||||||||||||||||
Carrying value |
Less than 1 year |
1-2 years |
2-4 years |
Beyond 4 years |
Total |
|||||||||||||||||||
Loans, borrowings and bank overdrafts * |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
||||||||||||||||||
Lease Liabilities * |
||||||||||||||||||||||||
Trade payables and accrued expenses |
||||||||||||||||||||||||
Derivative liabilities |
||||||||||||||||||||||||
Other liabilities # |
* |
Includes future cash outflow towards estimated interest on borrowings and lease liabilities. |
# |
Includes future cash outflow towards estimated interest on contingent consideration |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Cash and cash equivalents |
₹ |
₹ |
||||||
Investments—Current |
||||||||
Loans, borrowings and bank overdrafts |
( |
) |
( |
) | ||||
|
|
|
|
|||||
₹ |
₹ |
|||||||
|
|
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Balance at the beginning of the year |
₹ |
₹ |
||||||
Translation difference related to foreign operations, net |
( |
) |
||||||
Reclassification of foreign currency translation differences on sale of investment in associates and liquidation of subsidiaries to statement of income |
— |
( |
) | |||||
|
|
|
|
|||||
Balance at the end of the year |
₹ |
₹ |
||||||
|
|
|
|
Other Reserves |
||||||||||||||||
Particulars |
Remeasurements of the defined benefit plans |
Investment in debt instruments measured at fair value through OCI |
Investment in equity instruments measured at fair value through OCI |
Capital Redemption Reserve |
||||||||||||
As at April 1, 2019 |
₹ |
( |
) |
₹ |
₹ |
( |
) |
₹ |
||||||||
Other comprehensive income |
( |
) | — | |||||||||||||
Buyback of equity shares |
— | — | — | |||||||||||||
As at March 31, 2020 |
₹ |
( |
) |
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at April 1, 2020 |
₹ |
( |
) |
₹ |
₹ |
₹ |
||||||||||
Other comprehensive income |
— | |||||||||||||||
Buyback of equity shares |
— | — | — | |||||||||||||
As at March 31, 2021 |
₹ |
( |
) |
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at April 1, 2021 |
₹ |
( |
) |
₹ |
₹ |
₹ |
||||||||||
Other comprehensive income |
( |
) | — | |||||||||||||
As at March 31, 2022 |
₹ |
( |
) |
₹ |
₹ |
₹ |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Income tax expense as per the consolidated statement of income |
₹ |
₹ |
₹ |
|||||||||
Income tax included in other comprehensive income on: |
||||||||||||
Gains/(losses) on investment securities |
( |
) |
||||||||||
Gains/(losses) on cash flow hedging derivatives |
( |
) |
||||||||||
Remeasurements of the defined benefit plans |
( |
) |
||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
Income tax expense consists of the following: |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Current taxes |
||||||||||||
Domestic |
₹ |
₹ |
₹ |
|||||||||
Foreign |
||||||||||||
|
|
|
|
|
|
|||||||
Deferred taxes |
||||||||||||
Domestic |
( |
) | ||||||||||
Foreign |
( |
) |
( |
) | ||||||||
|
|
|
|
|
|
|||||||
( |
) | |||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Profit before tax |
₹ |
₹ |
₹ |
|||||||||
Enacted income tax rate in India |
||||||||||||
|
|
|
|
|
|
|||||||
Computed expected tax expense |
||||||||||||
Effect of: |
||||||||||||
Income exempt from tax |
( |
( |
( |
|||||||||
Basis differences that will reverse during a tax holiday period |
( |
|||||||||||
Income taxed at higher / (lower) rates |
( |
( |
( |
|||||||||
Taxes related to prior years |
( |
( |
( |
|||||||||
Changes in unrecognized deferred tax assets |
( |
|||||||||||
Expenses disallowed for tax purpose |
||||||||||||
Others, net |
( |
( |
||||||||||
|
|
|
|
|
|
|||||||
Income tax expense |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
|||||||
Effective income tax rate |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Carry forward losses * |
₹ |
₹ |
||||||
Trade payables, accrued expenses and other liabilities |
||||||||
Allowances for lifetime expected credit loss |
||||||||
Contract asset |
||||||||
Others |
||||||||
|
|
|
|
|||||
|
|
|
|
|||||
Property, plant and equipment |
( |
) | ( |
) | ||||
Amortizable goodwill |
( |
) | ( |
) | ||||
Intangible assets |
( |
) | ( |
) | ||||
Interest income and fair value movement of investments |
( |
) | ( |
) | ||||
Cash flow hedges |
( |
) | ( |
) | ||||
Contract liabilities |
( |
) | ||||||
Special Economic Zone Re-investment Reserve |
( |
) | ( |
) | ||||
|
|
|
|
|||||
( |
) |
( |
) | |||||
|
|
|
|
|||||
Net deferred tax assets/(liabilities) |
₹ |
( |
) |
₹ |
( |
) | ||
Amounts presented in consolidated statement of financial position: |
||||||||
Deferred tax assets |
₹ |
₹ |
||||||
Deferred tax liabilities |
₹ |
( |
) | ₹ |
( |
) |
* | Includes deferred tax asset recognized on carry forward losses pertaining to business combinations. |
Movement during the year ended March 31, 2020 |
As at April 1, 2019 |
Credit/(charge) in the consolidated statement of income |
Credit/(charge) in other comprehensive income * |
On account of business combination |
As at March 31, 2020 |
|||||||||||||||
Carry forward losses |
₹ |
₹ |
( |
) | ₹ |
₹ |
— | ₹ |
||||||||||||
Trade payables, accrued expenses and other liabilities |
— | |||||||||||||||||||
Allowances for lifetime expected credit loss |
( |
) | ( |
) | — | |||||||||||||||
Minimum alternate tax |
— | — | — | |||||||||||||||||
Property, plant and equipment |
( |
) | — | ( |
) | |||||||||||||||
Amortizable goodwill |
( |
) | ( |
) | ( |
) | — | ( |
) | |||||||||||
Intangible assets |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Interest income and fair value movement of investments |
( |
) | — | ( |
) | |||||||||||||||
Cash flow hedges |
( |
) | — | — | ||||||||||||||||
Contract asset / (Contract liabilities) |
( |
) | ( |
) | — | ( |
) | |||||||||||||
Special Economic Zone Re-investment Reserve |
( |
) | ( |
) | — | — | ( |
) | ||||||||||||
Others |
( |
) | — | ( |
) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
₹ |
₹ |
( |
) |
₹ |
₹ |
( |
) |
₹ |
|||||||||||
|
|
|
|
|
|
|
|
|
|
Movement during the year ended March 31, 2021 |
As at April 1, 2020 |
Credit/(charge) in the consolidated statement of income |
Credit/(charge) in other comprehensive income * |
Others |
As at March 31, 2021 |
|||||||||||||||
Carry forward losses |
₹ |
₹ |
( |
) | ₹ |
( |
) | ₹ |
( |
) | ₹ |
|||||||||
Trade payables, accrued expenses and other liabilities |
( |
) | ||||||||||||||||||
Allowances for lifetime expected credit loss |
( |
) | — | |||||||||||||||||
Minimum alternate tax |
( |
) | — | — | — | |||||||||||||||
Property, plant and equipment |
( |
) | ( |
) | ( |
) | ||||||||||||||
Amortizable goodwill |
( |
) | — | ( |
) | |||||||||||||||
Intangible assets |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Interest income and fair value movement of investments |
( |
) | ( |
) | ( |
) | — | ( |
) | |||||||||||
Cash flow hedges |
— | ( |
) | — | ( |
) | ||||||||||||||
Contract asset / (Contract liabilities) |
( |
) | ( |
) | ||||||||||||||||
Special Economic Zone Re-investment Reserve |
( |
) | — | — | ( |
) | ||||||||||||||
Others |
( |
) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
₹ |
₹ |
( |
) |
₹ |
( |
) |
₹ |
( |
) |
₹ |
( |
) | |||||||
|
|
|
|
|
|
|
|
|
|
Movement during the year ended March 31, 2022 |
As at April 1, 2021 |
Credit/(charge) in the consolidated statement of income |
Credit/(charge) in other comprehensive income * |
On account of business combinations and others |
As at March 31, 2022 |
|||||||||||||||
Carry forward losses |
₹ |
₹ |
₹ |
₹ |
( |
) | ₹ |
|||||||||||||
Trade payables, accrued expenses and other liabilities |
||||||||||||||||||||
Allowances for lifetime expected credit loss |
( |
) | — | |||||||||||||||||
Property, plant and equipment |
( |
) | ( |
) | ( |
) |
( |
) | ||||||||||||
Amortizable goodwill |
( |
) | ( |
) | ( |
) | — | ( |
) | |||||||||||
Intangible assets |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Interest income and fair value movement of investments |
( |
) | ( |
) | ( |
) | ||||||||||||||
Cash flow hedges |
( |
) | — | ( |
) | — | ( |
) | ||||||||||||
Contract asset / (Contract liabilities) |
( |
) | ( |
) | ||||||||||||||||
Special Economic Zone Re-investment Reserve |
( |
) | — | — | ( |
) | ||||||||||||||
Others |
( |
) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total |
₹ |
( |
) |
₹ |
₹ |
( |
) |
₹ |
( |
) | ₹ |
( |
) | |||||||
|
|
|
|
|
|
|
|
|
|
* |
Includes impact of foreign currency translat ion. |
As at March 31, |
||||||||||||
2021 |
2022 |
% Change |
||||||||||
Equity attributable to the equity shareholders of the Company |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
|||||||
As percentage of total capital |
||||||||||||
Current loans, borrowings and bank overdrafts |
||||||||||||
Non-current long-term loans and borrowings |
||||||||||||
Lease liabilities |
||||||||||||
|
|
|
|
|
|
|||||||
Total loans, borrowings and bank overdrafts and lease liabilities |
₹ |
₹ |
||||||||||
As percentage of total capital |
||||||||||||
|
|
|
|
|
|
|||||||
Total capital |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
IT Services |
IT Products |
ISRE |
Total |
|||||||||||||||||||||||||||||
Americas 1 |
Americas 2 |
Europe |
APMEA |
Total |
||||||||||||||||||||||||||||
A. Revenue |
||||||||||||||||||||||||||||||||
Rendering of services |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
— |
₹ |
₹ |
|||||||||||||||||||||||
Sale of products |
— |
— |
— |
— |
— |
— |
||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
B. Revenue by sector |
||||||||||||||||||||||||||||||||
Banking, Financial Services and Insurance |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||||
Health |
||||||||||||||||||||||||||||||||
Consumer |
||||||||||||||||||||||||||||||||
Communications |
||||||||||||||||||||||||||||||||
Energy, Natural Resources and Utilities |
||||||||||||||||||||||||||||||||
Manufacturing |
||||||||||||||||||||||||||||||||
Technology |
||||||||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
C. Revenue by nature of contract |
||||||||||||||||||||||||||||||||
Fixed price and volume based |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
— |
₹ |
₹ |
|||||||||||||||||||||||
Time and materials |
— |
|||||||||||||||||||||||||||||||
Products |
— |
— |
— |
— |
— |
— |
||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
IT Services |
IT Products |
ISRE |
Total |
|||||||||||||||||||||||||||||
Americas 1 |
Americas 2 |
Europe |
APMEA |
Total |
||||||||||||||||||||||||||||
A. Revenue |
||||||||||||||||||||||||||||||||
Rendering of services |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
— | ₹ |
₹ |
|||||||||||||||||||||||
Sale of products |
— | — | — | — | — | — | ||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
B. Revenue by sector |
||||||||||||||||||||||||||||||||
Banking, Financial Services and Insurance |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||||
Health |
||||||||||||||||||||||||||||||||
Consumer |
||||||||||||||||||||||||||||||||
Communications |
||||||||||||||||||||||||||||||||
Energy, Natural Resources and Utilities |
||||||||||||||||||||||||||||||||
Manufacturing |
||||||||||||||||||||||||||||||||
Technology |
||||||||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
C. Revenue by nature of contract |
||||||||||||||||||||||||||||||||
Fixed price and volume based |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
— | ₹ |
₹ |
|||||||||||||||||||||||
Time and materials |
— | |||||||||||||||||||||||||||||||
Products |
— | — | — | — | — | — | ||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
IT Services |
IT Products |
ISRE |
Total |
|||||||||||||||||||||||||||||
Americas 1 |
Americas 2 |
Europe |
APMEA |
Total |
||||||||||||||||||||||||||||
A. Revenue |
||||||||||||||||||||||||||||||||
Rendering of services |
₹ |
|
₹ |
|
₹ |
|
₹ |
|
₹ |
|
₹ |
— | ₹ |
|
₹ |
|||||||||||||||||
Sale of products |
— | — | ||||||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
B. Revenue by sector |
||||||||||||||||||||||||||||||||
Banking, Financial Services and Insurance |
₹ |
₹ |
|
₹ |
₹ |
|
₹ |
|
||||||||||||||||||||||||
Health |
||||||||||||||||||||||||||||||||
Consumer |
||||||||||||||||||||||||||||||||
Communications |
||||||||||||||||||||||||||||||||
Energy, Natural Resources and Utilities |
||||||||||||||||||||||||||||||||
Manufacturing |
||||||||||||||||||||||||||||||||
Technology |
||||||||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
C. Revenue by nature of contract |
||||||||||||||||||||||||||||||||
Fixed price and volume based |
₹ |
|
₹ |
|
₹ |
|
₹ |
|
₹ |
|
₹ |
— | ₹ |
|
₹ |
|||||||||||||||||
Time and materials |
— | |||||||||||||||||||||||||||||||
Products |
— | — | ||||||||||||||||||||||||||||||
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Employee compensation |
₹ |
₹ |
₹ |
|||||||||
Sub-contracting and technical fees |
||||||||||||
Cost of hardware and software |
||||||||||||
Travel |
||||||||||||
Facility expenses |
||||||||||||
Depreciation, amortization and impairment |
||||||||||||
Communication |
||||||||||||
Legal and professional fees |
||||||||||||
Rates, taxes and insurance |
||||||||||||
Marketing and brand building |
||||||||||||
Lifetime expected credit loss/ (write-back) |
( |
) | ||||||||||
Miscellaneous expenses |
||||||||||||
Total cost of revenues, selling and marketing expenses and general and administrative expenses |
₹ |
₹ |
₹ |
|||||||||
* | Depreciation, amortization, and impairment includes an impairment charge on certain software platforms, capital work-in-progress, and equipment and intangible assets amounting to ₹ ₹ ₹ |
** | Miscellaneous expenses for the year ended March 31, 2021, includes an amount of ₹ COVID-19 contributions. |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Interest expense |
₹ |
|
₹ |
|
₹ |
|
||||||
Exchange fluctuation loss on foreign currency borrowings |
— | |||||||||||
₹ |
₹ |
₹ |
||||||||||
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Interest income |
₹ |
|
₹ |
|
₹ |
|
||||||
Dividend income |
||||||||||||
Exchange fluctuation gain on foreign currency borrowings |
||||||||||||
Net gain from investments classified as FVTPL |
||||||||||||
Net gain from investments classified as FVTOCI |
||||||||||||
|
|
|
|
|
|
|||||||
Finance and other income |
₹ |
₹ |
₹ |
|||||||||
Foreign exchange gains/(losses), net, on financial instruments measured at FVTPL |
||||||||||||
Other foreign exchange gains/(losses), net |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
Foreign exchange gains/(losses), net |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Profit attributable to equity holders of the Company |
₹ |
₹ |
₹ |
|||||||||
Weighted average number of equity shares outstanding |
||||||||||||
|
|
|
|
|
|
|||||||
Basic earnings per share |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Profit attributable to equity holders of the Company |
₹ |
₹ |
₹ |
|||||||||
Weighted average number of equity shares outstanding |
||||||||||||
Effect of dilutive equivalent share options |
||||||||||||
|
|
|
|
|
|
|||||||
Weighted average number of equity shares for diluted earnings per share |
||||||||||||
|
|
|
|
|
|
|||||||
Diluted earnings per share |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
Name of Plan |
Number of options reserved under the plan |
Range of exercise price |
||||||
Wipro ADS Restricted Stock Unit Plan (WARSUP 2004 plan) * |
US $ | |||||||
Wipro Employee Restricted Stock Unit Plan 2005 (WSRUP 2005 plan) * |
₹ |
|||||||
Wipro Employee Restricted Stock Unit Plan 2007 (WSRUP 2007 plan) * |
₹ |
|||||||
Wipro Equity Reward Trust Employee Stock Purchase Plan, 2013 ** |
₹ |
* |
The maximum contractual term for these Stock Option Plans and RSU Option Plans is perpetual until the options are available for grant under the plan. |
** |
The maximum contractual term for these Stock Option Plans is up to May 29, 2023 until the options are available for grant under the plan. |
Year ended March 31, |
| |||||||||||||||
2020 |
|
|
2021 |
|
|
2022 |
| |||||||||
Range of exercise price and Weighted average exercise price |
Numbers of options |
Outstanding at the beginning of the year |
₹ |
|
||||||||||||||
US $ | |
|||||||||||||||
Granted |
₹ |
|
||||||||||||||
US $ | |
|||||||||||||||
Adjustment of Performance based stock options |
₹ |
( |
) | ( |
) | |||||||||||
US $ | |
( |
) | ( |
) | |||||||||||
Exercised |
₹ |
|
( |
) | ( |
) | ( |
) | ||||||||
US $ | |
( |
) | ( |
) | ( |
) | |||||||||
Modification |
₹ |
|
— | — | ||||||||||||
US $ | |
( |
) | |||||||||||||
Forfeited and expired |
₹ |
|
( |
) | ( |
) | ( |
) | ||||||||
US $ | |
( |
) | ( |
) | ( |
) | |||||||||
Outstanding at the end of the year |
₹ |
|
||||||||||||||
US $ | |
|||||||||||||||
Exercisable at the end of the year |
₹ |
|
||||||||||||||
US $ | |
* | Includes Performance based stock options will vest based on the performance parameters of the Company. |
Year ended March 31, |
||||||||
2021 |
2022 |
|||||||
Number of options |
||||||||
Outstanding at the beginning of the year |
||||||||
Modification ** |
( |
) | ||||||
Exercised |
( |
) | ( |
) | ||||
Forfeited and lapsed |
( |
) | ( |
) | ||||
Outstanding at the end of the year |
||||||||
Exercisable at the end of the year |
Year ended March 31, |
||||||||||||||||||||||||
2020 |
2021 |
2022 |
||||||||||||||||||||||
Range of exercise price and Weighted average exercise price |
Number of options |
Weighted Average Remaining life (months) |
Number of options |
Weighted Average Remaining life (months) |
Number of options |
Weighted Average Remaining life (months) |
||||||||||||||||||
₹ |
||||||||||||||||||||||||
US $ |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Salaries and bonus |
₹ |
|
₹ |
|
₹ |
|
||||||
Employee benefits plans |
||||||||||||
Share-based compensation |
||||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
* | Includes ₹ |
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Cost of revenues |
₹ |
|
₹ |
|
₹ |
|
||||||
Selling and marketing expenses |
||||||||||||
General and administrative expenses |
||||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Re-measurement of net defined benefit liability/(asset) |
||||||||||||
Return on plan assets excluding interest income—loss/(gain) |
₹ |
₹ |
( |
) | ₹ |
( |
) | |||||
Actuarial loss/(gain) arising from financial assumptions |
( |
) | ||||||||||
Actuarial loss/(gain) arising from demographic assumptions |
( |
) | ||||||||||
Actuarial loss/(gain) arising from experience adjustments |
( |
) | ||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
( |
) |
₹ |
( |
) | ||||||
|
|
|
|
|
|
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
Current service cost |
₹ |
|
₹ |
|
₹ |
|||||||
Net interest on net defined benefit liability/(asset) |
||||||||||||
|
|
|
|
|
|
|||||||
Net charge to statement of income |
₹ |
₹ |
₹ |
|||||||||
|
|
|
|
|
|
|||||||
Actual return on plan assets |
₹ |
|
₹ |
|
₹ |
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Defined benefit obligation at the beginning of the year |
₹ |
|
₹ |
|
||||
Acquisitions (Refer to Note 7 and 35) |
||||||||
Current service cost |
||||||||
Interest on obligation |
||||||||
Benefits paid |
( |
) | ( |
) | ||||
Remeasurement loss/(gain) |
||||||||
Actuarial loss/(gain) arising from financial assumptions |
( |
) | ||||||
Actuarial loss/(gain) arising from demographic assumptions |
( |
) | ||||||
Actuarial loss/(gain) arising from experience adjustments |
( |
) | ||||||
Translation adjustment |
( |
) | ||||||
|
|
|
|
|||||
Defined benefit obligation at the end of the year |
₹ |
₹ |
||||||
|
|
|
|
Change in plan assets is summarized below: |
||||||||
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Fair value of plan assets at the beginning of the year |
₹ |
|
₹ |
|
||||
Acquisitions |
||||||||
Expected return on plan assets |
||||||||
Employer contributions |
||||||||
Benefits paid |
( |
) | ( |
) | ||||
Remeasurement (loss)/gain |
||||||||
Return on plan assets excluding interest income—(loss)/gain |
||||||||
Translation adjustment |
( |
) | ||||||
|
|
|
|
|||||
Fair value of plan assets at the end of the year |
₹ |
₹ |
||||||
|
|
|
|
|||||
Present value of unfunded obligation |
₹ |
( |
) | ₹ |
( |
) | ||
|
|
|
|
|||||
Recognized asset/(liability) |
₹ |
( |
) | ₹ |
( |
) | ||
|
|
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Discount rate |
% | % | ||||||
Expected return on plan assets |
% | % | ||||||
Expected rate of salary increase |
% | % | ||||||
Duration of defined benefit obligations |
Expected contribution to the fund during the year ending March 31, 2023 |
₹ |
|||
|
|
|||
Estimated benefit payments from the fund for the year ending March 31: |
||||
2023 |
₹ |
|||
2024 |
||||
2025 |
||||
2026 |
||||
2027 |
||||
Thereafter |
||||
|
|
|||
Total |
₹ |
|||
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Fair value of plan assets |
₹ |
₹ |
||||||
Present value of defined benefit obligation |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Net shortfall |
₹ |
₹ |
||||||
|
|
|
|
As at March 31, |
||||||||
2021 |
2022 |
|||||||
Discount rate for the term of the obligation |
% | % | ||||||
Average remaining tenure of investment portfolio |
||||||||
Guaranteed rate of return |
% | % |
32. |
Related party relationship and transactions |
Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of Incorporation | |||
known as Wipro Opus Mortgage Solutions LLC) |
||||||
Incorporated |
||||||
|
||||||
** |
||||||
|
||||||
Korlátolt Felelősségű Társaság |
|
||||||
* | All the above direct subsidiaries are |
** |
Step Subsidiary details of Wipro Portugal S.A, Wipro do Brasil Technologia Ltda, HealthPlan Services, Inc, International TechneGroup Incorporated, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro Weare4C UK Limited, Cardinal US Holdings, Inc., Cardinal Foreign Holdings 2 S.á.r.l, Ampion Holdings Pty Ltd, and LeanSwift Solutions, Inc. are as follows: |
Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of Incorporation | |||
(formerly known as Metro-nom GmbH) |
||||||
| ||||||
|
||||||
|
||||||
|
|
|
|
|
|
|
*** |
St e p Subsidiary details of The Capital Markets Company BV, Wipro Business Solutions GmbH (formerly known as Metro-nom GmbH) and Iris Holdco Pty Ltd are as follows: |
Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of Incorporation | |||
(formerly known as Metro-nom GmbH) |
||||||
known as Metro Systems Romania S.R.L) |
||||||
**** |
Step Subsidiary details of Capco (US) GP LLC is as follows: |
Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of Incorporation | |||
The list of controlled trusts are: |
||
Name of the entity |
Country of incorporation | |
|
The other related parti e s are: |
Name of the related parties: |
Nature | |
Azim Premji Foundation |
Entity controlled by Promoters | |
Azim Premji Foundation for Development |
Entity controlled by Promoters | |
Hasham Traders |
Entity controlled by Promoters | |
Prazim Traders |
Entity controlled by Promoters | |
Zash Traders |
Entity controlled by Promoters | |
Hasham Investment and Trading Co. Pvt. Ltd |
Entity controlled by Promoters | |
Azim Premji Philanthropic Initiatives Pvt. Ltd |
Entity controlled by Promoters | |
Azim Premji Trust |
Entity controlled by Promoters | |
Wipro Enterprises (P) Limited |
Entity controlled by Promoters | |
Wipro GE Healthcare Private Limited |
Joint Venture between Wipro Enterprises (P) Limited and General Electric |
Key management personnel |
||
Rishad A. Premji |
Chairman of the board (designated as “Executive chairman”) | |
Thierry Delaporte |
Chief Executive Officer and Managing Director | |
Azim H. Premji |
Non-Executive non-Independent director (designated as “Founder Chairman”) (1) | |
William Arthur Owens |
Independent Director | |
M.K. Sharma |
Independent Director (2) | |
Ireena Vittal |
Independent Director | |
Dr. Patrick J. Ennis |
Independent Director | |
Patrick Dupuis |
Independent Director | |
Deepak M. Satwalekar |
Independent Director | |
Tulsi Naidu |
Independent Director (3) | |
Jatin Pravinchandra Dalal |
Chief Financial Officer |
Entities controlled by Directors |
Key Management Personnel |
|||||||||||||||||||||||
Transactions / balances |
2020 |
2021 |
2022 |
2020 |
2021 |
2022 |
||||||||||||||||||
Sale of goods and services |
₹ |
₹ |
₹ |
₹ |
— | ₹ |
— | ₹ |
||||||||||||||||
Assets purchased |
— | — | ||||||||||||||||||||||
Dividend |
||||||||||||||||||||||||
Buyback of shares |
||||||||||||||||||||||||
Rental income |
— | — | ||||||||||||||||||||||
Rent Paid |
||||||||||||||||||||||||
Others |
— | — | ||||||||||||||||||||||
Key management personnel * |
||||||||||||||||||||||||
Remuneration and short-term benefits |
₹ |
— | ₹ |
— | ₹ |
₹ |
₹ |
₹ |
||||||||||||||||
Other benefits |
— | — | ||||||||||||||||||||||
Balance as at the year end |
||||||||||||||||||||||||
Receivables |
₹ |
₹ |
₹ |
₹ |
— | ₹ |
— | ₹ |
||||||||||||||||
Payables |
— | — |
* | Post-employment benefits comprising compensated absences is not disclosed, as this is determined for the Company as a whole. Other benefits include ₹ ₹ ₹ as of March 31, 2020, 2021 and 2022, respectively towards amortization of Restricted Stock Units (“RSUs”) granted to them which vest over a period of time. This also includes RSU’s that will vest based on performance parameters of the Company. |
33. |
Commitments and contingencies |
34. |
Segment information |
IT Services |
IT Products |
ISRE |
Reconciling Items |
Total |
||||||||||||||||||||||||||||||||
Americas 1 |
Americas 2 |
Europe |
APMEA |
Total |
||||||||||||||||||||||||||||||||
Revenue |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
( |
) | ₹ |
|||||||||||||||||||||||||
Other operating income/(loss), net |
— | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Segment r esult |
( |
) | ( |
) | ||||||||||||||||||||||||||||||||
Unallocated |
— | — | — | |||||||||||||||||||||||||||||||||
Segment r esult t otal |
₹ |
₹ |
( |
) |
₹ |
( |
) |
₹ |
₹ |
|||||||||||||||||||||||||||
Finance expense |
( |
) | ||||||||||||||||||||||||||||||||||
Finance and other income |
||||||||||||||||||||||||||||||||||||
Share of net profit/(loss) of associates accounted for using the equity method |
||||||||||||||||||||||||||||||||||||
Profit before tax |
₹ |
|||||||||||||||||||||||||||||||||||
Income tax expense |
( |
) | ||||||||||||||||||||||||||||||||||
Profit for the year |
₹ |
|||||||||||||||||||||||||||||||||||
Depreciation, amortization and impairment |
₹ |
|||||||||||||||||||||||||||||||||||
IT Services |
IT Products |
ISRE |
Reconciling Items |
Total |
||||||||||||||||||||||||||||||||
Americas 1 |
Americas 2 |
Europe |
APMEA |
Total |
||||||||||||||||||||||||||||||||
Revenue |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
|||||||||||||||||||||||||||
Other operating income/(loss), net |
— | — | — | — | ( |
) |
— | — | — | ( |
) | |||||||||||||||||||||||||
Segment r esult |
( |
) | ||||||||||||||||||||||||||||||||||
Unallocated |
— | — | — | |||||||||||||||||||||||||||||||||
Segment r esult t otal |
₹ |
₹ |
₹ |
₹ |
( |
) |
₹ |
|||||||||||||||||||||||||||||
Finance expense |
( |
) | ||||||||||||||||||||||||||||||||||
Finance and other income |
||||||||||||||||||||||||||||||||||||
Share of net profit/(loss) of associates accounted for using the equity method |
||||||||||||||||||||||||||||||||||||
Profit before tax |
₹ |
|||||||||||||||||||||||||||||||||||
Income tax expense |
( |
) | ||||||||||||||||||||||||||||||||||
Profit for the year |
₹ |
|||||||||||||||||||||||||||||||||||
Depreciation, amortization and impairment |
₹ |
|||||||||||||||||||||||||||||||||||
IT Services |
IT Products |
ISRE |
Reconciling Items |
Total |
||||||||||||||||||||||||||||||||
Americas |
Americas 2 |
Europe |
APMEA |
Total |
||||||||||||||||||||||||||||||||
Revenue |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
₹ |
( |
) | ₹ |
|||||||||||||||||||||||||
Other operating income/(loss), net |
— | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Segment r esult |
( |
) | ||||||||||||||||||||||||||||||||||
Unallocated |
— | — | — | |||||||||||||||||||||||||||||||||
Segment r esult t otal |
₹ |
₹ |
₹ |
₹ |
( |
) |
₹ |
|||||||||||||||||||||||||||||
Finance expense |
( |
) | ||||||||||||||||||||||||||||||||||
Finance and other income |
||||||||||||||||||||||||||||||||||||
Share of net profit/(loss) of associates accounted for using the equity method |
||||||||||||||||||||||||||||||||||||
Profit before tax |
₹ |
|||||||||||||||||||||||||||||||||||
Income tax expense |
( |
) | ||||||||||||||||||||||||||||||||||
Profit for the year |
₹ |
|||||||||||||||||||||||||||||||||||
Depreciation, amortization and impairment |
₹ |
|||||||||||||||||||||||||||||||||||
Year ended March 31, |
||||||||||||
2020 |
2021 |
2022 |
||||||||||
United States of America |
₹ |
₹ |
₹ |
|||||||||
United Kingdom |
||||||||||||
|
|
|
|
|
|
|||||||
₹ |
₹ |
₹ |
||||||||||
|
|
|
|
|
|
a) | Effective beginning of fiscal year ended March 31, 2021, revenue from sale of traded cloud-based licenses is no longer reported in IT Services revenue and finance income on deferred consideration earned under total outsourcing contracts is not included in segment revenue. Further, for evaluating performance of the individual operating segments, stock compensation expense is allocated based on the accelerated amortization as per IFRS 2. Segment information for the year ended March 31, 2020 has been re-stated to give effect to these changes. |
b) | “Reconciling items” includes elimination of inter-segment transactions and other corporate activities. |
c) | Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues. |
d) | For the purpose of segment reporting, the Company has included the impact of “foreign exchange gains / (losses), net” in revenues (which is reported as a part of operating profit in the consolidated statement of income). |
e) | During the year ended March 31, 2021, the Company has contributed ₹ COVID-19 and is reported in Reconciling items. |
f) | Other operating income/(loss) of ₹ ₹ ₹ |
g) | Segment results for the year ended March 31, 2021, are after considering the impact of impairment charge of ₹ ₹ ₹ ₹ |
h) | Segment results for year ended March 31, 2021, are after considering additional amortization of ₹ |
i) | Segment results of IT Services segment are after recognition of share-based compensation expense ₹ ₹ ₹ |
35. |
As part of a customer contract with Metro AG, the Company has acquired Metro-nom GmbH (currently known as Wipro Business Solutions GmbH) and Metro Systems Romania S.R.L (currently known as Wipro Technology Solutions S.R.L), the IT units of Metro AG in Germany and Romania, respectively, for a consideration of ₹ ₹ |
36. |
The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stake holders which are under active consideration by the Ministry. Based on an initial assessment by the Company and its Indian subsidiaries, the additional impact on Provident Fund contributions by the Company and its Indian subsidiaries is not expected to be material, whereas, the likely additional impact on Gratuity liability / contributions by the Company and its Indian subsidiaries could be material. The Company and its Indian subsidiaries will complete their evaluation once the subject rules are notified and will give appropriate impact in the financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published. |
37. |
Events after the reporting period |
a) |
On April 11, 2022, the Company acquired CAS Group. |
b) |
On May 20, 2022, the Company acquired Rizing. |
Incorporated by Reference | ||||||||||||
Exhibit Number |
Exhibit Description |
Form |
File No. |
Exhibit |
Filing Date |
Filed Herewith | ||||||
1.1 |
F-1 |
333-46278 |
3.3 |
9/21/2000 |
||||||||
1.2 |
6-K |
001-16139 |
99.2 |
2/28/2019 |
||||||||
1.3 |
6-K |
001-16139 |
99.3 |
7/18/2019 |
||||||||
2.1 |
F-6 |
333-218348 |
(a)(4) |
5/30/2017 |
||||||||
2.2 |
F-1 |
333-46278 |
4.2 |
9/21/2000 |
||||||||
2.3 |
20-F |
001-16139 |
2.3 |
6/9/2021 |
||||||||
4.1 |
F-1 |
333-46278 |
10.1 |
9/21/2000 |
||||||||
4.2 |
F-1 |
333-46278 |
10.2 |
9/21/2000 |
||||||||
4.3 |
F-1 |
333-46278 |
10.3 |
9/21/2000 |
||||||||
4.4 |
20-F |
001-16139 |
10.4 |
5/17/2004 |
||||||||
4.5 |
20-F |
001-16139 |
4.5 |
5/26/2016 |
||||||||
4.6 |
20-F |
001-16139 |
4.10 |
5/26/2016 |
||||||||
4.7 |
20-F |
001-16139 |
4.11 |
5/26/2016 |
||||||||
4.8 |
20-F |
001-16139 |
99.5 |
5/30/2008 |
||||||||
4.9 |
20-F |
001-16139 |
99.6 |
5/30/2008 |
||||||||
4.10 |
20-F |
001-16139 |
99.7 |
5/30/2008 |
||||||||
4.11 |
20-F |
001-16139 |
10.5 |
5/17/2004 |
||||||||
4.12 |
20-F |
001-16139 |
4.8 |
6/13/2005 |
Incorporated by Reference | ||||||||||||
Exhibit Number |
Exhibit Description |
Form |
File No. |
Exhibit |
Filing Date |
Filed Herewith | ||||||
4.13 |
20-F |
001-16139 |
4.9 |
6/13/2005 |
||||||||
8.1 |
X | |||||||||||
12.1 |
X | |||||||||||
12.2 |
X | |||||||||||
13.1 |
X | |||||||||||
15.1 |
X | |||||||||||
15.2 |
20-F |
001-16139 |
99.4 |
6/9/2003 |
||||||||
17 |
X | |||||||||||
101.INS |
Inline XBRL Instance Document |
X | ||||||||||
101.SCH |
Inline XBRL Taxonomy Extension Schema Document |
X | ||||||||||
101.CAL |
Inline XBRL Taxonomy Extension Calculation Linkbase Document |
X | ||||||||||
101.DEF |
Inline XBRL Taxonomy Extension Definition Linkbase Document |
X | ||||||||||
101.LAB |
Inline XBRL Taxonomy Extension Labels Linkbase Document |
X | ||||||||||
101.PRE |
Inline XBRL Taxonomy Extension Presentation Linkbase Document |
X | ||||||||||
104 |
Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |
X |
/s/ Rishad A. Premji |
/s/ Jatin Pravinchandra Dalal | |||||||
Date: June 8, 2022 |
|
Rishad A. Premji, Chairman |
|
Jatin Pravinchandra Dalal, Chief Financial Officer |
Exhibit 12.1
Wipro Limited
Certification of Principal Executive Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Rishad A. Premji, certify that:
1. I have reviewed this Annual Report on Form 20-F of Wipro Limited;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;
4. The companys other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the companys disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the companys internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the companys internal control over financial reporting; and
5. The companys other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the companys auditors and the audit committee of the companys board of directors (or persons performing the equivalents functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting, which are reasonably likely to adversely affect the companys ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the companys internal control over financial reporting.
Date: June 8, 2022
/s/ Rishad A. Premji
Rishad A. Premji
Chairman
(Principal Executive Officer)
Exhibit 12.2
Wipro Limited
Certification of Principal Financial Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Jatin Pravinchandra Dalal, certify that:
1. I have reviewed this Annual Report on Form 20-F of Wipro Limited;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;
4. The companys other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the companys disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the companys internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the companys internal control over financial reporting; and
5. The companys other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the companys auditors and the audit committee of the companys board of directors (or persons performing the equivalents functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting, which are reasonably likely to adversely affect the companys ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the companys internal control over financial reporting.
Date: June 8, 2022
/s/ Jatin Pravinchandra Dalal
Jatin Pravinchandra Dalal
Chief Financial Officer
(Principal Financial Officer)
Exhibit 13.1
Wipro Limited
Certification of Principal Executive Officer and Principal Financial Officer
Pursuant to 18 U.S.C. Section 1350,
As adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002
I, Rishad A. Premji, Chairman of Wipro Limited, hereinafter referred to as the Company, certify, pursuant to 18 U.S.C Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:
(i) | the Annual Report of the Company on Form 20-F for the fiscal year ended March 31, 2022, as filed with the Securities and Exchange Commission, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(ii) | information contained in such Annual Report on Form 20-F fairly presents in all material respects the financial condition and results of operations of the Company. |
/s/ Rishad A. Premji |
Rishad A. Premji |
Chairman |
(Principal Executive Officer) |
I, Jatin Pravinchandra Dalal, Chief Financial Officer of Wipro Limited, hereinafter referred to as the Company, certify, pursuant to 18 U.S.C Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:
(i) | the Annual Report of the Company on Form 20-F for the fiscal year ended March 31, 2022, as filed with the Securities and Exchange Commission, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(ii) | information contained in such Annual Report on Form 20-F fairly presents in all material respects the financial condition and results of operations of the Company. |
/s/ Jatin Pravinchandra Dalal |
Jatin Pravinchandra Dalal |
Chief Financial Officer |
(Principal Financial Officer) |
Date: June 8, 2022
Exhibit 15.1
Consent of Independent Registered Public Accounting Firm
The Board of Directors
Wipro Limited:
We consent to the incorporation by reference in Registration Statement No. 333-123043 on Form S-8 of our reports dated June 8, 2022 relating to the consolidated financial statements of Wipro Limited and its subsidiaries (the Company or Wipro Limited) and the effectiveness of Wipro Limiteds internal control over financial reporting, appearing in the Annual Report on Form 20-F of Wipro Limited for the year ended March 31, 2022.
/s/ Deloitte Haskins & Sells LLP
Bengaluru, India
June 8, 2022
Exhibit 17
Issuers of Guaranteed Securities
The following securities issued by Wipro IT Services LLC, a wholly owned step-down subsidiary of Wipro Limited, are unconditionally and irrevocably guaranteed by Wipro Limited:
| 1.50% Senior Notes due 2026 |
Consolidated Statement of Income ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
₨ / shares
shares
|
Mar. 31, 2022
USD ($)
$ / shares
shares
|
Mar. 31, 2021
INR (₨)
₨ / shares
shares
|
Mar. 31, 2020
INR (₨)
₨ / shares
shares
|
|
Profit or loss [abstract] | ||||
Revenues | ₨ 790,934 | $ 10,425 | ₨ 619,430 | ₨ 610,232 |
Cost of revenues | (555,872) | (7,327) | (423,205) | (436,085) |
Gross profit | 235,062 | 3,098 | 196,225 | 174,147 |
Selling and marketing expenses | (54,935) | (724) | (41,400) | (42,907) |
General and administrative expenses | (46,382) | (611) | (34,686) | (29,823) |
Foreign exchange gains/(losses), net | 4,355 | 57 | 2,995 | 3,169 |
Other operating income/(loss), net | 2,186 | 29 | (81) | 1,144 |
Results from operating activities | 140,286 | 1,849 | 123,053 | 105,730 |
Finance expenses | (5,325) | (70) | (5,088) | (7,328) |
Finance and other income | 16,257 | 214 | 20,912 | 24,081 |
Share of net profit /(loss) of associates accounted for using the equity method | 57 | 1 | 130 | 29 |
Profit before tax | 151,275 | 1,994 | 139,007 | 122,512 |
Income tax expense | (28,946) | (382) | (30,345) | (24,799) |
Profit for the year | 122,329 | 1,612 | 108,662 | 97,713 |
Profit attributable to: | ||||
Equity holders of the Company | 122,191 | 1,610 | 107,946 | 97,218 |
Non-controlling interests | 138 | 2 | 716 | 495 |
Profit for the year | ₨ 122,329 | $ 1,612 | ₨ 108,662 | ₨ 97,713 |
Earnings per equity share: Attributable to equity holders of the Company | ||||
Basic | (per share) | ₨ 22.35 | $ 0.29 | ₨ 19.11 | ₨ 16.67 |
Diluted | (per share) | ₨ 22.29 | $ 0.29 | ₨ 19.07 | ₨ 16.62 |
Weighted average number of equity shares used in computing earnings per equity share | ||||
Basic | 5,466,705,840 | 5,466,705,840 | 5,649,265,885 | 5,833,384,018 |
Diluted | 5,482,083,438 | 5,482,083,438 | 5,661,657,822 | 5,847,823,239 |
Consolidated Statement of Comprehensive Income ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Statement of comprehensive income [abstract] | ||||
Profit for the year | ₨ 122,329 | $ 1,612 | ₨ 108,662 | ₨ 97,713 |
Items that will not be reclassified to profit or loss in subsequent periods | ||||
Remeasurements of the defined benefit plans, net | 399 | 5 | 223 | (1,050) |
Net change in fair value of investment in equity instruments measured at fair value through OCI | 8,710 | 115 | 1,216 | 724 |
Items that will not be reclassified to profit or loss in subsequent periods | 9,109 | 120 | 1,439 | (326) |
Foreign currency translation differences | ||||
Foreign currency translation differences | 4,121 | 54 | (656) | 8,447 |
Reclassification of foreign currency translation differences on sale of investment in associates and liquidation of subsidiaries to statement of income | (158) | (2) | 0 | 0 |
Other Items that will be reclassified to profit or loss in subsequent periods | ||||
Net change in time value of option contracts designated as cash flow hedges | 139 | 2 | 52 | (520) |
Net change in intrinsic value of option contracts designated as cash flow hedges | (100) | (1) | 958 | (1,558) |
Net change in fair value of forward contracts designated as cash flow hedges | (292) | (4) | 3,035 | (2,652) |
Net change in fair value of investment in debt instruments measured at fair value through OCI | (1,219) | (16) | 1,851 | 1,222 |
Items that will be reclassified to profit or loss in subsequent periods | 2,491 | 33 | 5,240 | 4,939 |
Total other comprehensive income, net of taxes | 11,600 | 153 | 6,679 | 4,613 |
Total comprehensive income for the year | 133,929 | 1,765 | 115,341 | 102,326 |
Total comprehensive income attributable to: | ||||
Equity holders of the Company | 133,742 | 1,763 | 114,678 | 101,673 |
Non-controlling interests | 187 | 2 | 663 | 653 |
Total comprehensive income for the year | ₨ 133,929 | $ 1,765 | ₨ 115,341 | ₨ 102,326 |
Consolidated Statement of Changes in Equity ₨ in Millions, $ in Millions |
INR (₨) |
USD ($) |
Adjustment On Adoption Of IFRS Sixteen [member]
INR (₨)
|
Share capital, fully paid-up [member]
INR (₨)
shares
|
Share capital, fully paid-up [member]
USD ($)
shares
|
Share premium [member]
INR (₨)
|
Share premium [member]
USD ($)
|
Retained earnings [member]
INR (₨)
|
Retained earnings [member]
USD ($)
|
Retained earnings [member]
Adjustment On Adoption Of IFRS Sixteen [member]
INR (₨)
|
Share-based payment reserve [member]
INR (₨)
|
Share-based payment reserve [member]
USD ($)
|
Special Economic Zone Re-investment reserve [member]
INR (₨)
|
Special Economic Zone Re-investment reserve [member]
USD ($)
|
Foreign currency translation reserve [member]
INR (₨)
|
Foreign currency translation reserve [member]
USD ($)
|
Cash flow hedging reserves [member]
INR (₨)
|
Cash flow hedging reserves [member]
USD ($)
|
Other reserves [member]
INR (₨)
|
[1] |
Other reserves [member]
USD ($)
|
[1] |
Equity attributable to the equity holders of the Company [member]
INR (₨)
|
Equity attributable to the equity holders of the Company [member]
USD ($)
|
Equity attributable to the equity holders of the Company [member]
Adjustment On Adoption Of IFRS Sixteen [member]
INR (₨)
|
Non- controlling interest [member]
INR (₨)
|
Non- controlling interest [member]
USD ($)
|
||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Balance at the beginning of the year at Mar. 31, 2019 | ₨ 570,753 | ₨ 12,068 | ₨ 533 | ₨ 506,135 | ₨ 2,617 | ₨ 28,565 | ₨ 15,250 | ₨ 2,415 | ₨ 533 | ₨ 568,116 | ₨ 2,637 | ||||||||||||||||||||||||
Beginning balance, shares at Mar. 31, 2019 | shares | [2] | 6,033,935,388 | 6,033,935,388 | ||||||||||||||||||||||||||||||||
Statement [LineItems] | |||||||||||||||||||||||||||||||||||
Adjustment on adoption of IFRS 16 | ₨ (872) | ₨ (872) | ₨ (872) | ||||||||||||||||||||||||||||||||
Adjusted balance as at April 1, 2019 | 569,881 | ₨ 12,068 | 533 | 505,263 | 2,617 | 28,565 | 15,250 | 2,415 | 533 | 567,244 | 2,637 | ||||||||||||||||||||||||
Adjusted balance as at April 1, 2019, shares | shares | [2] | 6,033,935,388 | 6,033,935,388 | ||||||||||||||||||||||||||||||||
Comprehensive income for the year | |||||||||||||||||||||||||||||||||||
Profit for the year | 97,713 | 97,218 | 97,218 | 495 | |||||||||||||||||||||||||||||||
Other comprehensive income | 4,613 | 8,289 | (4,730) | 896 | 4,455 | 158 | |||||||||||||||||||||||||||||
Total comprehensive income for the year | 102,326 | 97,218 | 8,289 | (4,730) | 896 | 101,673 | 653 | ||||||||||||||||||||||||||||
Issue of equity shares on exercise of options | 5 | ₨ 5 | 742 | (742) | 5 | ||||||||||||||||||||||||||||||
Issue of equity shares on exercise of options, shares | shares | [2] | 2,498,925 | 2,498,925 | ||||||||||||||||||||||||||||||||
Buyback of equity shares, including tax thereon | [3] | (105,000) | ₨ (646) | (105,000) | 646 | (105,000) | |||||||||||||||||||||||||||||
Buyback of equity shares, including tax thereon, shares | shares | [2],[3] | (323,076,923) | (323,076,923) | ||||||||||||||||||||||||||||||||
Transaction cost related to buyback of equity shares | (311) | (311) | (311) | ||||||||||||||||||||||||||||||||
Issue of shares by controlled trust on exercise of options | [2] | 1,026 | (1,026) | ||||||||||||||||||||||||||||||||
Compensation cost related to employee share-based payment | 1,271 | 9 | 1,262 | 1,271 | |||||||||||||||||||||||||||||||
Effect of modification of ADS RSUs from equity settled to cash settled | [4] | (561) | (561) | (561) | |||||||||||||||||||||||||||||||
Transferred to special economic zone re-investment reserve | (15,239) | 15,239 | |||||||||||||||||||||||||||||||||
Dividend (including dividend tax thereon) | [3] | (6,863) | (6,863) | (6,863) | |||||||||||||||||||||||||||||||
Dividend to Non-controlling interests holders | (1,415) | (1,415) | |||||||||||||||||||||||||||||||||
Other transactions for the year | (112,874) | ₨ (641) | 742 | (126,378) | (1,067) | 15,239 | 646 | (111,459) | (1,415) | ||||||||||||||||||||||||||
Other transactions for the year, shares | shares | [2] | (320,577,998) | (320,577,998) | ||||||||||||||||||||||||||||||||
Balance at the end of the year at Mar. 31, 2020 | 559,333 | ₨ 11,427 | 1,275 | 476,103 | 1,550 | 43,804 | 23,539 | (2,315) | 2,075 | 557,458 | 1,875 | ||||||||||||||||||||||||
Ending balance, shares at Mar. 31, 2020 | shares | [2] | 5,713,357,390 | 5,713,357,390 | ||||||||||||||||||||||||||||||||
Comprehensive income for the year | |||||||||||||||||||||||||||||||||||
Profit for the year | 108,662 | 107,946 | 107,946 | 716 | |||||||||||||||||||||||||||||||
Other comprehensive income | 6,679 | (603) | 4,045 | 3,290 | 6,732 | (53) | |||||||||||||||||||||||||||||
Total comprehensive income for the year | 115,341 | 107,946 | (603) | 4,045 | 3,290 | 114,678 | 663 | ||||||||||||||||||||||||||||
Issue of equity shares on exercise of options | 6 | ₨ 6 | 866 | (866) | 6 | ||||||||||||||||||||||||||||||
Issue of equity shares on exercise of options, shares | shares | [2] | 3,281,165 | 3,281,165 | ||||||||||||||||||||||||||||||||
Buyback of equity shares, including tax thereon | [3] | (116,445) | ₨ (475) | (1,427) | (115,018) | 475 | (116,445) | ||||||||||||||||||||||||||||
Buyback of equity shares, including tax thereon, shares | shares | [2],[3] | (237,500,000) | (237,500,000) | ||||||||||||||||||||||||||||||||
Transaction cost related to buyback of equity shares | (199) | (199) | (199) | ||||||||||||||||||||||||||||||||
Issue of shares by controlled trust on exercise of options | [2] | 662 | (662) | ||||||||||||||||||||||||||||||||
Compensation cost related to employee share-based payment | 2,317 | 7 | 2,310 | 2,317 | |||||||||||||||||||||||||||||||
Transferred from special economic zone re-investment reserve | 2,650 | (2,650) | |||||||||||||||||||||||||||||||||
Effect of modification of ADS RSUs from cash settled to equity settled | [4] | 739 | 739 | 739 | |||||||||||||||||||||||||||||||
Dividend (including dividend tax thereon) | [3] | (6,419) | (5,459) | (5,459) | (960) | ||||||||||||||||||||||||||||||
Others | (80) | (80) | |||||||||||||||||||||||||||||||||
Other transactions for the year | (120,081) | ₨ (469) | (561) | (117,357) | 1,521 | (2,650) | 475 | (119,041) | (1,040) | ||||||||||||||||||||||||||
Other transactions for the year, shares | shares | [2] | (234,218,835) | (234,218,835) | ||||||||||||||||||||||||||||||||
Balance at the end of the year at Mar. 31, 2021 | 554,593 | ₨ 10,958 | 714 | 466,692 | 3,071 | 41,154 | 22,936 | 1,730 | 5,840 | 553,095 | 1,498 | ||||||||||||||||||||||||
Ending balance, shares at Mar. 31, 2021 | shares | [2] | 5,479,138,555 | 5,479,138,555 | ||||||||||||||||||||||||||||||||
Comprehensive income for the year | |||||||||||||||||||||||||||||||||||
Profit for the year | 122,329 | $ 1,612 | 122,191 | 122,191 | 138 | ||||||||||||||||||||||||||||||
Other comprehensive income | 11,600 | 153 | 3,914 | (253) | 7,890 | 11,551 | 49 | ||||||||||||||||||||||||||||
Total comprehensive income for the year | 133,929 | 1,765 | 122,191 | 3,914 | (253) | 7,890 | 133,742 | 187 | |||||||||||||||||||||||||||
Issue of equity shares on exercise of options | 6 | ₨ 6 | 852 | (852) | 6 | ||||||||||||||||||||||||||||||
Issue of equity shares on exercise of options, shares | shares | [2] | 2,931,560 | 2,931,560 | ||||||||||||||||||||||||||||||||
Issue of shares by controlled trust on exercise of options | [2] | 1,071 | (1,071) | ||||||||||||||||||||||||||||||||
Compensation cost related to employee share-based payment | 4,119 | 9 | 4,110 | 4,119 | |||||||||||||||||||||||||||||||
Transferred to special economic zone re-investment reserve | (5,907) | 5,907 | |||||||||||||||||||||||||||||||||
Dividend (including dividend tax thereon) | [3] | (33,939) | (32,804) | (32,804) | (1,135) | ||||||||||||||||||||||||||||||
Others | (35) | (35) | |||||||||||||||||||||||||||||||||
Other transactions for the year | (29,849) | ₨ 6 | 852 | (37,631) | 2,187 | 5,907 | (28,679) | (1,170) | |||||||||||||||||||||||||||
Other transactions for the year, shares | shares | [2] | 2,931,560 | 2,931,560 | ||||||||||||||||||||||||||||||||
Balance at the end of the year at Mar. 31, 2022 | ₨ 658,673 | $ 8,682 | ₨ 10,964 | $ 145 | ₨ 1,566 | $ 21 | ₨ 551,252 | $ 7,266 | ₨ 5,258 | $ 69 | ₨ 47,061 | $ 620 | ₨ 26,850 | $ 354 | ₨ 1,477 | $ 19 | ₨ 13,730 | $ 181 | ₨ 658,158 | $ 8,675 | ₨ 515 | $ 7 | |||||||||||||
Ending balance, shares at Mar. 31, 2022 | shares | [2] | 5,482,070,115 | 5,482,070,115 | ||||||||||||||||||||||||||||||||
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Consolidated Statement of Changes in Equity (Parenthetical) - shares |
12 Months Ended | ||
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Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
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Statement [LineItems] | |||
Shares transferred by the controlled trust to eligible employees on exercise of options | 4,711,486 | 3,344,866 | 4,607,772 |
Treasury shares [member] | |||
Statement [LineItems] | |||
Treasury shares held by a controlled trust | 14,689,729 | 19,401,215 | 22,746,081 |
Consolidated Statement of Cash Flows ₨ in Millions, $ in Millions |
12 Months Ended | ||||||
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Mar. 31, 2022
INR (₨)
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Mar. 31, 2022
USD ($)
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Mar. 31, 2021
INR (₨)
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Mar. 31, 2020
INR (₨)
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Cash flows from operating activities: | |||||||
Profit for the year | ₨ 122,329 | $ 1,612 | ₨ 108,662 | ₨ 97,713 | |||
Adjustments to reconcile profit for the year to net cash generated from operating activities: | |||||||
Gain on sale of property, plant and equipment, net | (313) | (4) | (516) | (11) | |||
Depreciation, amortization and impairment expense | 30,911 | 407 | 27,656 | 20,862 | |||
Unrealized exchange (gain)/ loss, net and exchange (gain)/ loss on borrowings | (1,021) | (13) | (2,251) | 6,376 | |||
Share-based compensation expense | 4,110 | 54 | 2,310 | 1,262 | |||
Share of net profit of associates accounted for using the equity method | (57) | (1) | (130) | (29) | |||
Income tax expense | 28,946 | 382 | 30,345 | 24,799 | |||
Finance and other income, net of finance expense | (9,447) | (125) | (16,614) | (18,945) | |||
(Gain)/loss from sale of business and investment accounted for using the equity method | (2,186) | (29) | 81 | (1,144) | |||
Gain on derecognition of contingent consideration payable | (301) | (4) | 0 | 0 | |||
Changes in operating assets and liabilities; net of effects from acquisitions | |||||||
Trade receivables | (11,833) | (156) | 12,848 | (3,327) | |||
Unbilled receivables and Contract assets | (31,396) | (414) | (1,062) | (3,561) | |||
Inventories | (256) | (3) | 803 | 2,085 | |||
Other assets | (6,530) | (86) | 931 | (80) | |||
Trade payables, accrued expenses, other liabilities and provisions | 9,695 | 128 | 5,698 | (12,401) | |||
Contract liabilities | 3,832 | 51 | 3,704 | (6,572) | |||
Cash generated from operating activities before taxes | 136,483 | 1,799 | 172,465 | 107,027 | |||
Income taxes paid, net | (25,686) | (339) | (24,915) | (6,384) | |||
Net cash generated from operating activities | 110,797 | 1,460 | 147,550 | 100,643 | |||
Cash flows from investing activities: | |||||||
Payment for purchase of property, plant and equipment | (20,153) | (266) | (19,577) | (23,497) | |||
Proceeds from disposal of property, plant and equipment | 736 | 10 | 753 | 1,270 | |||
Payment for purchase of investments | (1,015,486) | (13,385) | (1,172,251) | (1,178,247) | |||
Proceeds from sale of investments | 953,735 | 12,571 | 1,189,059 | 1,212,826 | |||
Payment into restricted interim dividend account | (27,410) | (361) | 0 | 0 | |||
Payment for business acquisitions including deposits and escrow, net of cash acquired | (129,846) | (1,711) | (9,873) | (10,003) | |||
Proceeds from sale of business | 0 | 0 | 0 | 7,459 | |||
Proceeds from sale of investment accounted for using the equity method | 1,652 | 22 | 0 | 0 | |||
Interest received | 12,275 | 162 | 19,624 | 23,837 | |||
Dividend received | 2 | [1] | 4 | 367 | |||
Net cash generated from/(used in) investing activities | (224,495) | (2,958) | 7,739 | 34,012 | |||
Cash flows from financing activities: | |||||||
Proceeds from issuance of equity shares and shares pending allotment | 6 | [1] | 6 | 14 | |||
Repayment of loans and borrowings | (191,810) | (2,528) | (97,206) | (132,380) | |||
Proceeds from loans and borrowings | 260,120 | 3,428 | 103,418 | 106,342 | |||
Payment of lease liabilities | (9,730) | (128) | (8,660) | (6,784) | |||
Payment for buyback of equity shares, including transaction cost | 0 | 0 | (95,199) | (105,311) | |||
Payment of tax on buyback of equity shares | 0 | 0 | (21,445) | 0 | |||
Payment for deferred contingent consideration | (309) | (4) | 0 | 0 | |||
Interest and finance expenses paid | (5,089) | (67) | (3,335) | (4,601) | |||
Payment of dividend | (5,467) | (72) | (5,459) | (5,689) | |||
Payment of tax on cash dividend | 0 | 0 | 0 | (1,174) | |||
Payment of dividend to Non-controlling interests holders | (1,135) | (15) | (960) | (1,415) | |||
Net cash generated from/(used in) financing activities | 46,586 | 614 | (128,840) | (150,998) | |||
Net increase/ (decrease) in cash and cash equivalents during the year | (67,112) | (884) | 26,449 | (16,343) | |||
Cash and cash equivalents at the beginning of the year | 169,663 | 2,236 | 144,104 | 158,525 | |||
Effect of exchange rate changes on cash and cash equivalents | 1,282 | 17 | (890) | 1,922 | |||
Cash and cash equivalents at the end of the year (Note 11) | ₨ 103,833 | $ 1,369 | ₨ 169,663 | ₨ 144,104 | |||
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The Company overview |
12 Months Ended |
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Mar. 31, 2022 | |
Text block [abstract] | |
The Company overview | 1. The Company overview Wipro Limited (“ Wipro Parent Company we us our the Company Group IT” BPS” Wipro is a public limited company incorporated and domiciled in India. The address of its registered office is Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru – 560 035, Karnataka, India. The Company has its primary listing with BSE Ltd. and National Stock Exchange of India Ltd. The Company’s American Depository Shares (“ ADS The Company’s Board of Directors authorized these consolidated financial statements for issue on June 8, 2022.
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Basis of preparation of consolidated financial statements |
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Basis of preparation of consolidated financial statements | 2. Basis of preparation of consolidated financial statements (i) Statement of compliance and basis of preparation The consolidated financial statements have been prepared in compliance with International Financial Reporting Standards and its interpretations (“ IFRS IASB The consolidated financial statements correspond to the classification provisions contained in IAS 1 (revised), Presentation of Financial Statements” All amounts included in the consolidated financial statements are reported in millions of Indian rupees ( ₹ (ii) Basis of measurement The consolidated financial statements have been prepared on a historical cost convention and on an accrual basis, except for the following material items which have been measured at fair value as required by relevant IFRS:
(iii) Convenience translation (unaudited) The accompanying consolidated financial statements have been prepared and reported in Indian rupees, the functional currency of the Parent Company. Solely for the convenience of the readers, the consolidated financial statements as at and for the year ended March 31, 2022, have been translated into United States dollars at the certified foreign exchange rate of $1 = ₹ (iv) Use of estimates and judgment The preparation of the consolidated financial statements in conformity with IFRS requires the management to make judgments, accounting estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Accounting estimates are monetary amounts in the consolidated financial statements that are subject to measurement uncertainty. An accounting policy may require items in consolidated financial statements to be measured at monetary amounts that cannot be observed directly and must instead be estimated. In such a case, management develops an accounting estimate to achieve the objective set out by the accounting policy. Developing accounting estimates involves the use of judgements or assumptions based on the latest available and reliable information. Actual results may differ from those accounting estimates. Accounting estimates and underlying assumptions are reviewed on an ongoing basis. Changes to accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected. In particular, information about material areas of estimation, uncertainty and critical judgments in applying accounting policies that have the material effect on the amounts recognized in the consolidated financial statements are included in the following notes:
The Company uses significant judgement to disclose contingent liabilities. Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognized nor disclosed in the financial statements.
The Company bases its assessment on the belief that the probability of occurrence of forecasted transactions is not impacted by COVID-19. The Company has considered the effect of changes, if any, in both counterparty credit risk and its own credit risk while assessing hedge effectiveness and measuring hedge ineffectiveness and continues to believe that COVID-19 has no impact on effectiveness of its hedges. The impact of COVID-19 may be different from what we have estimated as of the date of approval of these consolidated financial statements and the Company will continue to closely monitor any material changes to future economic conditions. |
Material accounting policy information |
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Material accounting policy information | 3. Material accounting policy information (i) Basis of consolidation Subsidiaries and controlled trusts The Company determines the basis of control in line with the requirements of IFRS 10, Consolidated Financial Statements The financial statements of the Group companies are consolidated on a line-by-line Non-controlling interests Non-controlling interests in the net assets (excluding goodwill) of consolidated subsidiaries are identified separately from the Company’s equity. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interest’s proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement basis is made on an acquisition to acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interest’s share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interests even if it results in the non-controlling interests having a deficit balance. Investments accounted for using the equity method Investments accounted for using the equity method are entities in respect of which, the Company has significant influence, but not control, over the financial and operating policies. Generally, a Company has a significant influence if it holds between 20 and 50 percent of the voting power of another entity. Investments in such entities are accounted for using the equity method and are initially recognized at cost. The carrying amount of investment is increased/ decreased to recognize investors share of profit or loss of the investee after the acquisition date. Non-current assets and disposal groups held for sale Assets and liabilities of disposal groups that are available for immediate sale and where the sale is highly probable of being completed within one year from the date of classification are considered and classified as assets held for sale and liabilities associated with assets held for sale. Non-current assets and disposal groups held for sale are measured at the lower of carrying amount and fair value less costs to sell. (ii) Functional and presentation currency Items included in the financial statements of each of the Company’s entities are measured using the currency of the primary economic environment in which these entities operate (i.e. the “functional currency”). These consolidated financial statements are presented in Indian rupees, which is the functional currency of the Parent Company. (iii) Foreign currency transactions and translation a) Transactions and balances Transactions in foreign currency are translated into the respective functional currencies using the exchange rates prevailing at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from translation at the exchange rates prevailing at the reporting date of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net, within results of operating activities except when deferred in other comprehensive income as qualifying cash flow hedges and qualifying net investment hedges. Net loss relating to translation or settlement of borrowings denominated in foreign currency are reported within finance expense. Net gain relating to translation or settlement of borrowings denominated in foreign currency are reported within finance and other income. Non-monetary assets and liabilities denominated in foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Translation differences on non-monetary financial assets measured at fair value at the reporting date, such as equities classified as financial instruments measured at fair value through other comprehensive income are included in other comprehensive income, net of taxes. b) Foreign operations For the purpose of presenting consolidated financial statements, the assets and liabilities of the Company’s foreign operations that have a functional currency other than Indian rupees are translated into Indian rupees using exchange rates prevailing at the reporting date. Income and expense items are translated at the average exchange rates for the period. Exchange differences arising, if any, are recognized in other comprehensive income and held in foreign currency translation reserve (FCTR), a component of equity, except to the extent that the translation difference is allocated to non-controlling interest. When a foreign operation is disposed of, the relevant amount recognized in FCTR is transferred to the consolidated statement of income as part of the profit or loss on disposal. Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the exchange rate prevailing at the reporting date. c) Others Foreign currency differences arising on the translation or settlement of a financial liability designated as a hedge of a net investment in a foreign operation are recognized in other comprehensive income and presented within equity in the FCTR to the extent the hedge is effective. To the extent the hedge is ineffective, such differences are recognized in the consolidated statement of income. When the hedged part of a net investment is disposed of, the relevant amount recognized in FCTR is transferred to the consolidated statement of income as part of the profit or loss on disposal. Foreign currency differences arising from translation of intercompany receivables or payables relating to foreign operations, the settlement of which is neither planned nor likely in the foreseeable future, are considered to form part of net investment in foreign operation and are recognized in FCTR. (iv) Financial instruments A) Non-derivative financial instruments: Non-derivative financial instruments consist of:
Non-derivative financial instruments are recognized initially at fair value. Subsequent to initial recognition, non-derivative financial instruments are measured as described below: a. Cash and cash equivalents The Company’s cash and cash equivalents consist of cash on hand and in banks and demand deposits with banks, which can be withdrawn at any time, without prior notice or penalty on the principal. For the purposes of the statement of cash flows, cash and cash equivalents include cash on hand, in banks and demand deposits with banks, net of outstanding bank overdrafts that are repayable on demand and are considered part of the Company’s cash management system. In the consolidated statement of financial position, bank overdrafts are presented under borrowings within current liabilities. b. Investments Financial instruments measured at amortized cost: Debt instruments that meet the following criteria are measured at amortized cost (except for debt instruments that are designated at fair value through Profit or Loss (FVTPL) on initial recognition):
Financial instruments measured at fair value through other comprehensive income (FVTOCI): Debt instruments that meet the following criteria are measured at fair value through other comprehensive income (FVTOCI) (except for debt instruments that are designated at fair value through Profit or Loss (FVTPL) on initial recognition):
Interest income is recognized in the consolidated statement of income for FVTOCI debt instruments. Other changes in fair value of FVTOCI financial assets are recognized in other comprehensive income. When the investment is disposed of, the cumulative gain or loss previously accumulated in reserves is transferred to the consolidated statement of income. Financial instruments measured at fair value through profit or loss (FVTPL): Instruments that do not meet the amortized cost or FVTOCI criteria are measured at FVTPL. Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized in consolidated statement of income. The gain or loss on disposal is recognized in the consolidated statement of income. Interest income is recognized in the consolidated statement of income for FVTPL debt instruments. Dividend on financial assets at FVTPL is recognized when the Group’s right to receive dividend is established. Investments in equity instruments: The Company carries certain equity instruments which are not held for trading. At initial recognition, the Company may make an irrevocable election to present subsequent changes in the fair value of an investment in an equity instrument in other comprehensive income (FVTOCI) or through statement of income (FVTPL). For investments designated to be classified as FVTOCI, movements in fair value of investments are recognized in other comprehensive income and the gain or loss is not transferred to consolidated statement of income on disposal of investments. For investments designated to be classified as FVTPL, both movements in fair value of investments and gain or loss on disposal of investments are recognized in the consolidated statement of income. Dividends from these investments are recognized in the consolidated statement of income when the Company’s right to receive dividends is established. c. Other financial assets: Other financial assets are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are presented as current assets, except for those maturing later than 12 months after the reporting date which are presented as non-current assets. These are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any impairment losses. These comprise trade receivables, unbilled receivables, finance lease receivables, employee and other advances and eligible current and non-current assets. d. Trade payables, accrued expenses, and other liabilities Trade payables, accrued expenses, and other liabilities are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest method. For these financial instruments, the carrying amounts approximate fair value due to the short-term maturity of these instruments. Contingent consideration recognized in a business combination is subsequently measured at fair value through profit or loss. B) Derivative financial instruments The Company is exposed to foreign currency fluctuations on foreign currency assets, liabilities, net investment in foreign operations and forecasted cash flows denominated in foreign currency. The Company limits the effect of foreign exchange rate fluctuations by following established risk management policies including the use of derivatives. The Company enters into derivative financial instruments where the counterparty is primarily a bank. Derivatives are recognized and measured at fair value. Attributable transaction costs are recognized in consolidated statement of income as cost. Subsequent to initial recognition, derivative financial instruments are measured as described below: a. Cash flow hedges Changes in the fair value of the derivative hedging instruments designated as a cash flow hedge are recognized in other comprehensive income and held in cash flow hedging reserve, net of taxes, a component of equity, to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net, within results from operating activities. If the hedging instrument no longer meets the criteria for hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the forecasted transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging reserve is transferred to the consolidated statement of income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, such cumulative balance is immediately recognized in the consolidated statement of income. b. Hedges of net investment in foreign operations The Company designates derivative financial instruments as hedges of net investments in foreign operations. The Company also designates foreign currency denominated borrowing as a hedge of net investment in foreign operations. Changes in the fair value of the derivative hedging instruments and gains/(losses) on translation or settlement of foreign currency denominated borrowings designated as a hedge of net investment in foreign operations are recognized in other comprehensive income and presented within equity in the FCTR to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net within results from operating activities. c. Others Changes in fair value of foreign currency derivative instruments neither designated as cash flow hedges nor hedges of net investment in foreign operations are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net within results from operating activities. Changes in fair value and gains/(losses), net, on settlement of foreign currency derivative instruments relating to borrowings, which have not been designated as hedges are recorded in finance expenses. C) Derecognition of financial instruments The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IFRS 9. If the Company retains substantially all the risks and rewards of a transferred financial asset, the Company continues to recognize the financial asset and recognizes a borrowing for the proceeds received. A financial liability (or a part of a financial liability) is derecognized from the Company’s statement of financial position when the obligation specified in the contract is discharged or cancelled or expires. (v) Equity and share capital a) Share capital and Share premium The authorized share capital of the Company as at March 31, 2022 is ₹ ₹ ₹ ₹ Every holder of the equity shares, as reflected in the records of the Company, as at the date of the shareholder meeting shall have one vote in respect of each share held for all matters submitted to vote in the shareholder meeting. b) Shares held by controlled trust (Treasury shares) The Company’s equity shares held by the controlled trust, which is consolidated as a part of the Group are classified as Treasury shares. The Company has 22,746,081, 19,401,215 and 14,689,729 treasury shares as at March 31, 2020, 2021 and 2022, respectively. Treasury shares are recorded at acquisition cost. c) Retained earnings Retained earnings comprises of the Company’s undistributed earnings after taxes. This includes Capital reserve as at March 31, 2020, 2021 and 2022 amounting to ₹ ₹ ₹ d) Special Economic Zone Re-Investment reserve The Special Economic Zone Re-Investment Reserve has been created out of profit of eligible SEZ units as per provisions of section 10AA(1)(ii) of the Income–tax Act, 1961 for acquiring new plant and machinery. The said reserve should be utilized by the Company for acquiring plant and machinery as per the terms of Section 10AA(2) of the Income-tax Act, 1961. This reserve is not freely available for distribution. e) Share-based payment reserve The share-based payment reserve is used to record the value of equity-settled share-based payment transactions with employees. The amounts recorded in share-based payment reserve are transferred to share premium upon exercise of stock options and restricted stock unit options by employees. f) Foreign currency translation reserve (FCTR) The exchange differences arising from the translation of financial statements of foreign subsidiaries, differences arising from translation of long-term inter-company receivables or payables relating to foreign operations, settlement of which is neither planned nor likely in the foreseeable future, changes in fair value of the derivative hedging instruments and gains/losses on translation or settlement of foreign currency denominated borrowings designated as hedge of net investment in foreign operations are recognized in other comprehensive income, net of taxes and presented within equity in the FCTR. g) Cash flow hedging reserve Changes in fair value of derivative hedging instruments designated and effective as a cash flow hedge are recognized in other comprehensive income, net of taxes and presented within equity as cash flow hedging reserve. h) Other reserves Changes in the fair value of financial instruments measured at fair value through other comprehensive income and actuarial gains and losses on remeasurements of the defined benefit plans are recognized in other comprehensive income, net of taxes and presented within equity in other reserves. Other reserves also include Capital redemption reserve, which is not freely available for distribution. As per the Companies Act, 2013, Capital redemption reserve is created when a company purchases its own shares out of free reserves or share premium. A sum equal to the nominal value of the shares so purchased is transferred to capital redemption reserve. The reserve can be utilized in accordance with the provisions of section 69 of the Companies Act, 2013. As of March 31, 2022, capital redemption reserve amounting to ₹ ₹ i) Dividend A final dividend on common stock is recorded as a liability on the date of approval by the shareholders. An interim dividend is recorded as a liability on the date of declaration by the board of directors. j) Buyback of equity shares The buyback of equity shares, including tax thereon and related transaction costs are recorded as a reduction of free reserves. Further, capital redemption reserve is created as an apportionment from retained earnings. k) Bonus issue For the purpose of bonus issue, the amount is transferred from capital redemption reserves, share premium and retained earnings to the share capital. (vi) Property, plant and equipment a) Recognition and measurement Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses, if any. Cost includes expenditures directly attributable to the acquisition of the asset. General and specific borrowing costs directly attributable to the construction of a qualifying asset are capitalized as part of the cost. Capital work-in-progress b) Depreciation The Company depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date the assets are available for use. Leasehold improvements are amortized over the shorter of estimated useful life of the asset or the related lease term. Term licenses are amortized over their respective contract term. Freehold land is not depreciated. The estimated useful life of assets is reviewed and where appropriate are adjusted, annually. The estimated useful lives of assets are as follows:
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. Subsequent expenditure relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be measured reliably. Deposits and advances paid towards the acquisition of property, plant and equipment outstanding as at each reporting date and the cost of property, plant and equipment not available for use before such date are disclosed under capital work-in-progress. (vii) Business combination s , Goodwill, and Intangible assets a) Business combination s Business combinations are accounted for using the purchase (acquisition) method. The cost of an acquisition is measured as the fair value of the assets transferred, liabilities incurred or assumed, and equity instruments issued at the date of exchange by the Company. 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 acquisition are expensed as incurred. The cost of an acquisition also includes the fair value of any contingent consideration measured as at the date of acquisition. Any subsequent changes to the fair value of contingent consideration classified as liabilities, other than measurement period adjustments, are recognized in the consolidated statement of income. b) Goodwill The excess of the cost of an acquisition over the Company’s share in the fair value of the acquiree’s identifiable assets and liabilities is recognized as goodwill. If the excess is negative, a bargain purchase gain is recognized immediately in the consolidated statement of income. Goodwill is measured at cost less accumulated impairment (if any). Goodwill associated with disposal of an operation that is part of cash-generating unit is measured based on the relative values of the operation disposed of and the portion of the cash-generating unit retained, unless some other method better reflects the goodwill associated with the operation disposed of. c) Intangible assets Intangible assets acquired separately are measured at cost of acquisition. Intangible assets acquired in a business combination are measured at fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less accumulated amortization and impairment losses, if any. The amortization of an intangible asset with a finite useful life reflects the manner in which the economic benefit is expected to be generated and is included in selling and marketing expenses in the consolidated statement of income. The estimated useful life of amortizable intangibles is reviewed and where appropriate is adjusted, annually. The estimated useful lives of the amortizable intangible assets are as follows:
(viii) Leases On April 1, 2019, the Company adopted IFRS 16 “Leases”, which applied to all lease contracts outstanding as at April 1, 2019, using modified retrospective method by recording the cumulative effect of initial application as an adjustment to opening retained earnings. The adoption of the new standard has resulted in a reduction of ₹ ₹ The Company evaluates each contract or arrangement, whether it qualifies as lease as defined under IFRS 16. The Company as a lessee The Company enters into an arrangement for lease of land, buildings, plant and equipment including computer equipment and vehicles. Such arrangements are generally for a fixed period but may have extension or termination options. The Company assesses, whether the contract is, or contains, a lease, at its inception. A contract is, or contains, a lease if the contract conveys the right to – (a) control use of an identified asset, (b) obtain substantially all the economic benefits from use of the identified asset, and (c) direct the use of the identified asset. The Company determines the lease term as the non-cancellable period of a lease, together with periods covered by an option to extend the lease, where the Company is reasonably certain to exercise that option. The Company at the commencement of the lease contract recognizes a Right of Use (“ RoU low-value assets. For these short-term and low-value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the lease term. The cost of the RoU assets comprises the amount of the initial measurement of the lease liability, any lease payments made at or before the inception date of the lease plus any initial direct costs, less any lease incentives received. Subsequently, the RoU assets are measured at cost less any accumulated depreciation and accumulated impairment losses, if any. The RoU assets are depreciated using the straight-line method from the commencement date over the shorter of lease term or useful life of RoU assets. The estimated useful lives of RoU assets are determined on the same basis as those of property, plant and equipment. The Company applies IAS 36 to determine whether a RoU asset is impaired and accounts for any identified impairment loss as described in the impairment of non-financial assets below. For lease liabilities at the commencement of the lease, the Company measures the lease liability at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, if that rate is readily determined, if that rate is not readily determined, the lease payments are discounted using the incremental borrowing rate that the Company would have to pay to borrow funds, including the consideration of factors such as the nature of the asset and location, collateral, market terms and conditions, as applicable in a similar economic environment. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. The Company recognizes the amount of the re-measurement of lease liability as an adjustment to the RoU assets. Where the carrying amount of the RoU asset is reduced to zero and there is a further reduction in the measurement of the lease liability, the Company recognizes any remaining amount of the re-measurement in consolidated statement of income. Payment of lease liabilities are classified as cash used in financing activities in the consolidated statement of cash flows. The Company as a lessor Leases under which the Company is a lessor are classified as a finance or operating lease. Lease contracts where all the risks and rewards are substantially transferred to the lessee are classified as a finance lease. All other leases are classified as operating lease. For leases under which the Company is an intermediate lessor, the Company accounts for the head-lease and the sub-lease as two separate contracts. The sub-lease is further classified either as a finance lease or an operating lease by reference to the RoU asset arising from the head-lease. (ix) Inventories Inventories are valued at lower of cost and net realizable value, including necessary provision for obsolescence. Cost is determined using the weighted average method. (x) Impairment a) Financial assets The Company applies the expected credit loss model for recognizing impairment loss on financial assets measured at amortized cost, debt instruments classified as FVTOCI, trade receivables, unbilled receivables, contract assets, finance lease receivables, and other financial assets. Expected credit loss is the difference between the contractual cash flows and the cash flows that the entity expects to receive, discounted using the effective interest rate. Loss allowances for trade receivables, unbilled receivables, contract assets and finance lease receivables are measured at an amount equal to lifetime expected credit loss. Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument. Lifetime expected credit loss is computed based on a provision matrix which takes in to account, risk profiling of customers and historical credit loss experience adjusted for forward looking information. For other financial assets, expected credit loss is measured at the amount equal to twelve months expected credit loss unless there has been a significant increase in credit risk from initial recognition, in which case those are measured at lifetime expected credit loss. b) Non-financial assets The Company assesses long-lived assets such as property, plant and equipment, RoU assets and acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable. If any such indication exists, the Company estimates the recoverable amount of the asset or group of assets. Goodwill is tested for impairment at least annually at the same time and when events occur or changes in circumstances indicate that the recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at the level of cash-generating unit or groups of cash -generating units which represents the lowest level at which goodwill is monitored for internal management purposes. The recoverable amount of an asset or cash generating unit is the higher of its fair value less cost of disposal (“ FVLCD value-in-use VIU (xi) Employee benefits a) Post-employment plans The Group participates in various employee benefit plans. Pensions and other post-employment benefits are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan, the Company’s sole obligation is to pay a fixed amount with no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits. The related actuarial and investment risks are borne by the employee. The expenditure for defined contribution plans is recognized as an expense during the period when the employee provides service. Under a defined benefit plan, it is the Company’s obligation to provide agreed benefits to the employees. The related actuarial and investment risks are borne by the Company. The present value of the defined benefit obligations is calculated by an independent actuary using the projected unit credit method. Remeasurements of the defined benefit plans, comprising actuarial gains or losses, and the return on plan assets (excluding interest) are immediately recognized in other comprehensive income, net of taxes and not reclassified to profit or loss in subsequent period. Net interest recognized in profit or loss is calculated by applying the discount rate used to measure the defined benefit obligation to the net defined benefit liability or asset. The actual return on the plan assets above or below the discount rate, is recognized as part of remeasurements of the defined benefit plans through other comprehensive income, net of taxes. The Company has the following employee benefit plans: A. Provident fund Eligible employees receive benefits under the Company’s provident fund plan, into which both the employer and employees make periodic contributions to the approved provident fund trust managed by the Company. A portion of the employer’s contribution is made to the government administered pension fund. The contributions to the trust managed by the Company is accounted for as a defined benefit plan as the Company is liable for any shortfall in the fund assets based on the government specified minimum rates of return. Certain employees receive benefits under the provident fund plan in which both the employer and employees make periodic contributions to the government administered provident fund. A portion of the employer’s contribution is made to the government administered pension fund. This is accounted as a defined contribution plan as the obligation of the Company is limited to the contributions made to the fund. B. Gratuity and foreign pension In accordance with the Payment of Gratuity Act, 1972, applicable for Indian companies, the Company provides for a lump sum payment to eligible employees, at retirement or termination of employment based on the last drawn salary and years of employment with the Company. The gratuity fund is managed by third party fund managers. The Company also maintains pension and similar plans for employees outside India, based on country specific regulations. These plans are partially funded, and the funds are managed by third party fund managers. The plans provide for monthly payout after retirement as per salary drawn and service period or for a lumpsum payment as set out in rules of each fund. The Company’s obligations in respect of these plans, which are defined benefit plans, are provided for based on actuarial valuation using the projected unit credit method. C. Superannuation Superannuation plan, a defined contribution scheme is administered by third party fund managers. The Company makes annual contributions based on a specified percentage of each eligible employee’s salary. b) Termination benefits Termination benefits are expensed when the Company can no longer withdraw the offer of those benefits. c) Short-term benefits Short-term employee benefit obligations such as cash bonus, management incentive plans or profit-sharing plans are measured on an undiscounted basis and are recorded as expense as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or management incentive plans or profit-sharing plans, if the Company 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. d) Compensated absences The employees of the Company are entitled to compensated absences. The employees can carry forward a portion of the unutilized accumulating compensated absences and utilize it in future periods or receive cash at retirement or termination of employment. The Company records an obligation for compensated absences in the period in which the employee renders the services that increases this entitlement. The Company measures the expected cost of compensated absences as the additional amount that the Company expects to pay as a result of the unused entitlement that has accumulated at the end of the reporting period. The Company recognizes accumulated compensated absences based on actuarial valuation using the projected unit credit method. Non-accumulating compensated absences are recognized in the period in which the absences occur. (xii) Share-based payment transactions Selected employees of the Company receive remuneration in the form of equity settled instruments or cash settled instruments, for rendering services over a defined vesting period and for Company’s performance-based stock options over the defined period. Equity instruments granted are measured by reference to the fair value of the instrument at the date of grant. In cases, where equity instruments are granted at a nominal exercise price, the intrinsic value on the date of grant approximates the fair value. The expense is recognized in the consolidated statement of income with a corresponding increase to the share-based payment reserve, a component of equity. The equity instruments or cash settled instruments generally vest in a graded manner over the vesting period. The fair value determined at the grant date is expensed over the vesting period of the respective tranches of such grants (accelerated amortization). The stock compensation expense is determined based on the Company’s estimate of equity instruments or cash settled instruments that will eventually vest. Cash Settled instruments granted are re-measured by reference to the fair value at the end of each reporting period and at the time of vesting. The expense is recognized in the consolidated statement of income with a corresponding increase to financial liability. (xiii) Provisions Provisions are recognized when the Company has a present obligation (legal or constructive), as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, considering 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. Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. Provisions for onerous contracts are measured at the present value of lower of the expected net cost of fulfilling the contract and the expected cost of terminating the contract. (xiv) Revenue The Company derives revenue primarily from software development, maintenance of software/hardware and related services, business process services, sale of IT and other products. Revenues from customer contracts are considered for recognition and measurement when the contract has been approved by the parties to the contract, the parties to contract are committed to perform their respective obligations under the contract, and the contract is legally enforceable. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. To recognize revenues, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenues when a performance obligation is satisfied. When there is uncertainty as to collectability, revenue recognition is postponed until such uncertainty is resolved. At contract inception, the Company assesses its promise to transfer products or services to a customer to identify separate performance obligations. The Company applies judgement to determine whether each product or service promised to a customer is capable of being distinct, and are distinct in the context of the contract, if not, the promised products or services are combined and accounted as a single performance obligation. The Company allocates the arrangement consideration to separately identifiable performance obligation based on their relative stand-alone selling price or residual method. Stand-alone selling prices are determined based on sale prices for the components when it is regularly sold separately, in cases where the Company is unable to determine the stand-alone selling price the Company uses third-party prices for similar deliverables or the Company uses expected cost-plus margin approach in estimating the stand-alone selling price. For performance obligations where control is transferred over time, revenues are recognized by measuring progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the promised products or services to be provided. The method for recognizing revenues and costs depends on the nature of the services rendered: A. Time and materials contracts Revenues and costs relating to time and materials contracts are recognized as the related services are rendered. B. Fixed-price contracts i. Fixed-price development contracts Revenues from fixed-price development contracts, including software development, and integration contracts, where the performance obligations are satisfied over time, are recognized using the “percentage-of-completion” A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets primarily relate to unbilled amounts on fixed-price development contracts and are classified as non-financial asset as the contractual right to consideration is dependent on completion of contractual milestones. A contract liability is an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. Unbilled receivables on other than fixed-price development contracts are classified as a financial asset where the right to consideration is unconditional and only the passage of time is required before the payment is due. ii. Maintenance contracts Revenues related to fixed-price maintenance contracts are recognized on a straight-line basis when services are performed through an indefinite number of repetitive acts over a specified period or ratably using percentage of completion method when the pattern of benefits from the services rendered to the customers and the cost to fulfil the contract is not even through the period of contract because the services are generally discrete in nature and not repetitive. Revenue for contracts in which the invoicing is representative of the value being delivered is recognized based on our right to invoice. If our invoicing is not consistent with value delivered, revenues are recognized as the service is performed using the percentage of completion method. In certain projects, a fixed quantum of service or output units is agreed at a fixed price for a fixed term. In such contracts, revenue is recognized with respect to the actual output achieved till date as a percentage of total contractual output. Any residual service unutilized by the customer is recognized as revenue on completion of the term. iii. Element or Volume based contracts Revenues and costs are recognized as the related services are rendered. C. Products Revenue on product sales are recognized when the customer obtains control of the specified product. D. Others
(xv) Finance expenses Finance expenses comprises interest cost on borrowings, lease liabilities and net defined benefit liability, gains or losses arising on re-measurement of financial assets measured at FVTPL, net loss on translation or settlement of foreign currency borrowings and changes in fair value and gains / (losses) on settlement of related derivative instruments. Borrowing costs that are not directly attributable to a qualifying asset are recognized in the consolidated statement of income using the effective interest method. (xvi) Finance and other income Finance and other income comprise interest income on deposits, dividend income, gains / (losses) on disposal of investments and net gain on translation or settlement of foreign currency borrowings. Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. (xvii) Income tax Income tax comprises current and deferred tax. Income tax expense is recognized in the consolidated statement of income except to the extent it relates to a business combination, or items directly recognized in equity or in other comprehensive income. a) Current income tax Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current tax amounts are those that are enacted or substantively enacted as at the reporting date and applicable for the period. While determining the tax provisions, the Company assesses whether each uncertain tax position is to be considered separately or together with one or more uncertain tax positions depending upon the nature and circumstances of each uncertain tax position. The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and liability simultaneously. b) Deferred income tax Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount in financial statements, except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profits or loss at the time of the transaction. Deferred income tax assets are recognized to the extent it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized. Deferred income tax liabilities are recognized for all taxable temporary differences except in respect of taxable temporary differences that is expected to reverse within the tax holiday period, taxable temporary differences associated with investments in subsidiaries, associates and foreign branches where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. The Company offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax assets against current tax liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable entity, or on different taxable entities where there is a right and an intention to settle the current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. (xviii) Earnings per share Basic earnings per share is computed using the weighted average number of equity shares outstanding during the period adjusted for treasury shares held. Diluted earnings per share is computed using the weighted average number of equity and dilutive equivalent shares outstanding during the period, using the treasury stock method for options, except where the results would be anti-dilutive. The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any splits and bonus shares issues including for change effected prior to the approval of the consolidated financial statements by the Board of Directors. (xix) Statement of cash flows Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash from operating, investing and financing activities of the Company are segregated. (xx) Assets held for sale Sale of business is classified as held for sale, if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification as held for sale is met when disposal business is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale. (xxi) Discontinued operations A discontinued operation is a component of the Company’s business that represents a separate line of business that has been disposed of or is held for sale, or is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs upon the earlier of disposal or when the operation meets the criteria to be classified as held for sale. (xxii) Disposal of assets The gain or loss arising on disposal or retirement of assets is recognized in the consolidated statement of income. New Accounting standards, amendments and interpretations adopted by the Company effective from April 1, 2021: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – Interest Rate Benchmark Reform (Phase 2) The IASB issued Interest Rate Benchmark Reform (Phase 2), which amends IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. The amendments complement those issued in 2019 and focus on the effects on financial statements when a company replaces the old interest rate benchmark with an alternative benchmark rate as a result of the reform. The amendments in this final phase relate to the modification of financial assets, financial liabilities and lease liabilities, specific hedge accounting requirements, and disclosure requirements applying IFRS 7 to accompany the amendments regarding modifications and hedge accounting. The adoption of the amendment to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 did not have any material impact on the consolidated financial statements. IFRS 9 – Annual Improvements to IFRS Standards—2018-2020 On May 14, 2020, IASB amended IFRS 9 as part of its Annual Improvements to IFRS Standards 2018-2020. The amendment clarifies which fees an entity includes when it applies the ‘10 percent’ test in paragraph B3.3.6 of IFRS 9 in assessing whether to derecognize a financial liability. The early adoption of amendments to IFRS 9 did not have any material impact on the consolidated financial statements. Amendments to IAS 1 – Presentation of Financial Statements On February 12, 2021, the IASB amended IAS 1 “Presentation of Financial Statements”. The amendments require companies to disclose their material accounting policy information rather than their significant accounting policies. The amendments clarify that accounting policy information may be material because of its nature, even if the related amounts are immaterial. The amendments also clarified that accounting policy information is material if users of an entity’s financial statements would need it to understand other material information in the financial statements; and the amendments clarify that if an entity discloses immaterial accounting policy information, such information shall not obscure material accounting policy information. The early adoption of amendments to IAS 1 did not have any material impact on the consolidated financial statements. Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors On February 12, 2021, the IASB amended IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”. The amendments clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. That distinction is important because changes in accounting estimates are applied prospectively only to future transactions and other future events, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events. The early adoption of amendments to IAS 8 did not have any material impact on the consolidated financial statements. New amendments not yet adopted: Certain new standards, amendments to standards and interpretations are not yet effective for annual periods beginning after April 1, 2021 and have not been applied in preparing these consolidated financial statements. New standards, amendments to standards and interpretations that could have potential impact on the consolidated financial statements of the Company are: Amendments to IAS 37 – Onerous Contracts – Cost of Fulfilling a Contract On May 14, 2020, the IASB issued “Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)”, amending the standard regarding costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. The amendment specifies that the “cost of fulfilling” a contract comprises the “costs that relate directly to the contract”. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract or an allocation of other costs that relate directly to fulfilling contracts. These amendments are effective for annual reporting periods beginning on or after January 1, 2022, with earlier application permitted. The adoption of amendments to IAS 37 is not expected to have any material impact on the consolidated financial statements. Amendment to IAS 1 – Presentation of Financial Statements On January 23, 2020, the IASB issued “Classification of liabilities as Current or Non-Current (Amendments to IAS 1)” providing a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangement in place at the reporting date. The amendments aim to promote consistency in applying the requirements by helping companies to determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments also clarified the classification requirements for debt a company might settle by converting it into equity. These amendments are effective for annual reporting periods beginning on or after January 1, 2023 and are to be applied retrospectively, with earlier application permitted. The adoption of amendments to IAS 1 is not expected to have any material impact on the consolidated financial statements of the Company. Amendments to IAS 12 – “Income Taxes” On May 7, 2021, the IASB amended IAS 12 “Income Taxes” and published ‘Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12)’ that clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. In specified circumstances, companies are exempt from recognizing deferred tax when they recognize assets or liabilities for the first time. The amendments clarify that this exemption does not apply to transactions such as leases and decommissioning obligations and companies are required to recognize deferred tax on such transactions. These amendments are effective for annual reporting periods beginning on or after January 1, 2023 and are to be applied retrospectively, with earlier application permitted. The Company is currently evaluating the impact of amendment to IAS 12 on the consolidated financial statements. |
Property, plant and equipment |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Text block [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment | 4. Property, plant and equipment
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Right-of-Use assets |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Disclosure of Right of use assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Right-of-Use assets | 5. Right-of-Use assets
The Company recognized the following expenses in the consolidated statement of income:
Payments toward leases of low-value assets and leases with less than twelve months of lease term, are disclosed under operating activities in the consolidated statement of cash flows. All other lease payments during the period are disclosed under financing activities in the consolidated statement of cash flows. Income from subleasing RoU assets is not material. The Company is committed to certain leases amounting to ₹ 1,657 which have not commenced as of March 31, 2022. The term of such leases ranges from 3 to 7 years. Refer to Note 19 for remaining contractual maturities of lease liabilities. |
Goodwill and intangible assets |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Goodwill and intangible assets | 6. Goodwill and intangible assets The movement in goodwill balance is given below:
The Company is organized by three operating segments: IT Services, IT Products and India State Run Enterprise Services. Goodwill as at March 31, 2021 and 2022 has been allocated to the IT Services operating segment. Goodwill recognized on business combinations is allocated to Cash Generating Units (CGUs), within the IT Services operating segment, which are expected to benefit from the synergies of the acquisitions.
For 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 Company’s operating segment. Goodwill is tested for impairment at least annually in accordance with the Company’s procedure for determining the recoverable value of each CGU. The recoverable amount of the CGU is determined based on FVLCD. The FVLCD of the CGU is determined based on the market capitalization approach, using the turnover and earnings multiples derived from observable market data. The fair value measurement is categorized as a level 2 fair value based on the inputs in the valuation techniques used. Based on the above testing, no impairment was identified as at March 31, 2021 and 2022, as the recoverable value of the CGUs exceeded the carrying value. A sensitivity analysis to the change in the key parameters (turnover and earnings multiples) did not identify any probable scenarios where the CGU’s recoverable amount would fall below its carrying amount. The movement in intangible assets is given below:
Amortization expense on intangible assets is included in selling and marketing expenses in the consolidated statement of income. As at March 31, 2022, the net carrying value and the estimated remaining amortization period for intangible assets acquired on acquisition are as follows:
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Business combination |
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Business combination | 7. Business combination Summary of acquisitions during the year ended March 31, 2021 is given below: During the year ended March 31, 2021, the Company has completed four business combinations (which individually are not material) for a total consideration (upfront cash payout to acquire control and contingent consideration) of ₹
The following table presents the purchase price allocation:
The total consideration for IVIA includes a contingent consideration linked to achievement of revenues and earnings over a period of 3 years ending September 30, 2023, and range of contingent consideration payable is between ₹ ₹ ₹ ₹ The total consideration for ETT includes a contingent consideration linked to achievement of revenues and earnings over a period of 18 months ending March 31, 2022, and range of contingent consideration payable is between ₹ ₹ ₹ ₹ The ₹ ₹ of the contingent consideration is estimated by applying the discounted cash-flow approach considering discount rate of 2.3% and probability adjusted revenue and earnings estimates. The undiscounted fair value of contingent consideration is ₹ ₹ Net assets acquired include ₹ ₹ The goodwill of ₹ United States of America. The transaction costs of ₹ The pro-forma effects of these business combinations on the Company’s results were not material. Summary of acquisitions during the year ended March 31, 2022 is given below: During the year ended March 31, 2022, the Company has completed four business combinations by acquiring 100% equity interest in:
The following table presents the purchase price allocation:
The purchase price allocation for Edgile and LeanSwift is provisional and will be finalized as soon as practicable within the measurement period, but in no event later than one year following the date of acquisition. The acquisition of Capco contributed revenues of ₹ ₹ ₹ ₹ If all the acquisitions during the year ended March 31, 2022, had been consummated on April 1, 2021, management estimates that consolidated revenues for the Company would have been ₹ ₹ pro-forma amounts are not necessarily indicative of the actual or future results if the acquisition had been consummated on April 1, 2021. The goodwill of ₹ United States of America. The total consideration of Edgile includes a contingent consideration linked to achievement of revenues and earnings over a period of 2 years ending December 31, 2023, and range of contingent consideration payable is between ₹ ₹ ₹ ₹ Summary of acquisitions consummated after March 31, 2022
The total consideration for the acquisition of CAS Group includes a contingent consideration linked to achievement of revenues and earnings over a period of 3 years ending December 31, 2024, and range of contingent consideration payable is between ₹ ₹ ₹ ₹ The following table presents the provisional purchase price allocation:
Net assets acquired include ₹ ₹ The goodwill of ₹ of America.
The initial accounting is incomplete at the time these consolidated financial statements are authorized for issue and the fair value remeasurement of the assets (including trade receivables) and liabilities, and the provisional purchase price allocation pursuant to IFRS 3 are being assessed by an independent expert and are still on-going. |
Investments |
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Investments | 8. Investments
* These deposits earn a fixed rate of interest. Term deposits include non-current and current deposits in lien with banks primarily on account of term deposits held as margin money deposits against guarantees amounting to ₹ ₹ non-current of ₹ ₹ Investments accounted for using the equity method The Company has no material associates as at March 31, 2021 and 2022. During the year ended March 31, 2022, as a result of acquisition by another investor, the Company sold its investment in Denim Group, Ltd. and Denim Group Management, LLC (“ Denim Group The aggregate summarized financial information in respect of the Company’s immaterial associates that are accounted for using the equity method is set forth below:
Details of investments in equity instruments- classified as FVTOCI
Details of investments in equity instruments- classified as FVTPL
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Trade receivables |
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Trade receivables | 9. Trade receivables
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Inventories |
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Inventories | 10. Inventories
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Cash and cash equivalents |
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Cash and cash equivalents | 11. Cash and cash equivalents
Cash and cash equivalents consist of the following for the purpose of the statement of cash flows:
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Other financial assets | 12. Other financial assets
Finance lease receivables Finance lease receivables consist of assets that are leased to customers for a contract term normally ranging 1 to 5 years, with lease payments due in monthly or quarterly installments. Details of finance lease receivables are given below:
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Other assets | 13. Other assets
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Loans, borrowings and bank overdrafts |
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Loans, borrowings and bank overdrafts | 14. Loans, borrowings and bank overdrafts
Short-term loans, borrowings and bank overdrafts The Company had loans, borrowings and bank overdrafts amounting to ₹ and ₹ , as at March 31, 2021 and 2022, respectively. The principal source of borrowings from banks as at March 31, 2022 primarily consists of lines of credit of approximately ₹ (US$) million, Canadian Dollar (CAD) 10 million, Saudi Riyal (SAR) 140 million, Euro (EUR) 18 million, Pound Sterling (GBP) 7million, Bahraini Dinar (BHD) 1 million, Australian Dollar (AUD $) 90million, UAE Dirham (AED) 3 million, Thai Baht (THB) 5 million and Indonesian Rupiah (IDR) million from bankers for working capital requirements and other short-term needs. As at March 31, 2022, the Company has unutilized lines of credit aggregating ₹ 10,223, US$ 563 million, CAD 10 million, SAR 40 million, EUR 18 million, GBP 7 million, BHD 1 million, AED million, THB 5 million and IDR 290 million. To utilize these unused lines of credit, the Company requires consent of the lender and compliance with certain financial covenants. Significant portion of these lines of credit are revolving credit facilities and floating rate foreign currency loans, renewable on a periodic basis. Significant portion of these facilities bear floating rates of interest, referenced to country specific official benchmark interest rates and a spread, determined based on market conditions. Long-term loans and borrowings
Interest expense on loans , borrowings and bank overdrafts was ₹ ₹ ₹ Cash and non-cash changes in liabilities arising from financing activities:
Non-fund based The Company has non-fund based revolving credit facilities in various currencies equivalent to ₹ ₹ ₹ ₹ |
Trade payables and accrued expenses |
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Trade payables and accrued expenses | 15. Trade payables and accrued expenses
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Other financial liabilities |
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Other Financial Liabilities | 16. Other financial liabilities
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Other liabilities |
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Other liabilities | 17. Other liabilities
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Provisions |
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Provisions | 18. Provisions
A summary of activity in provision for warranty, provision for onerous contracts and other provisions is as follows:
Provision for years. Provision for onerous contracts is recognized when the expected benefit by the company from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. Other provisions primarily include provisions for compliance related contingencies. The timing of cash outflows in respect of such provision cannot be reasonably determined. |
Financial instruments |
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Financial instruments | 19. Financial instruments
Offsetting financial assets and liabilities The following table contains information on other financial assets and trade payable and other liabilities subject to offsetting:
For the financial assets and liabilities subject to offsetting or similar arrangements, each agreement between the Company and the counterparty allows for net settlement of the relevant financial assets and liabilities when both elect to settle on a net basis. In the absence of such an election, financial assets and liabilities will be settled on a gross basis and hence are not offset. Fair value Financial assets and liabilities include cash and cash equivalents, trade receivables, unbilled receivables, finance lease receivables, employee and other advances, eligible current and non-current assets, loans, borrowings and bank overdrafts, trade payables and accrued expenses, and eligible current liabilities and non-current liabilities. The fair value of cash and cash equivalents, trade receivables, unbilled receivables, loans, borrowings and bank overdrafts, trade payables and accrued expenses, other current financial assets and liabilities approximate their carrying amount largely due to the short-term nature of these instruments. The Company’s long-term debt has been contracted at market rates of interest. Accordingly, the carrying value of such long-term debt approximates fair value. Further, finance lease receivables are periodically evaluated based on individual credit worthiness of customers. Based on this evaluation, the Company records allowance for estimated losses on these receivables. As at March 31, 2021 and 2022, the carrying value of such receivables, net of allowances approximates the fair value. Investments in short-term mutual funds and fixed maturity plans, which are classified as FVTPL are measured using net asset values at the reporting date multiplied by the quantity held. Fair value of investments in non-convertible debentures, government securities, commercial papers, certificate of deposits and bonds classified as FVTOCI is determined based on the indicative quotes of price and yields prevailing in the market at the reporting date. Fair value of investments in equity instruments classified as FVTOCI or FVTPL is determined using market multiples method.The fair value of derivative financial instruments is determined based on observable market inputs including currency spot and forward rates, yield curves, currency volatility etc. 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 Level 2 Level 3 There were no transfers between Level 1, 2 and 3 during the year ended March 31, 2022. The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:
The following methods and assumptions were used to estimate the fair value of the level 2 financial instruments included in the above table. Derivative instruments (assets and liabilities): Investment in non-convertible debentures, government securities, commercial papers, certificate of deposits and bonds:Investment in equity instruments and fixed maturity plan mutual funds: The following methods and assumptions were used to estimate the fair value of the level 3 financial instruments included in the above table. Investment in equity instruments: Details of assets and liabilities considered under Level 3 classification
During the year ended March 31, 2021, as a result of acquisition by another investor, the Company sold its shares in CloudGenix and Emailage Corp at a fair value of ₹ ₹ During the year ended March 31, 2022, as a result of acquisition by another investor, the Company sold its shares in Ensono Holdings, LLC, Cloudknox Security Inc. and IntSights Cyber Intelligence Limited at a fair value of ₹ ₹ Derivative assets and liabilities: The Company is exposed to foreign currency fluctuations on foreign currency assets / liabilities, forecasted cash flows denominated in foreign currency and net investment in foreign operations. The Company follows established risk management policies, including the use of derivatives to hedge foreign currency assets / liabilities, foreign currency forecasted cash flows and net investment in foreign operations. The counter parties in these derivative instruments are primarily banks and the Company considers the risks of non-performance by the counterparty as non-material. The following table presents the aggregate contracted principal amounts of the Company’s derivative contracts outstanding:
Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument, including whether the hedging instrument is expected to offset changes in cash flows of hedged items. The following table summarizes activity in the cash flow hedging reserve within equity related to all derivative instruments classified as cash flow hedges:
The related hedge transactions for balance in cash flow hedging reserves as at March 31, 2022 are expected to occur and be reclassified to the consolidated statement of income over a period of one year. As at March 31, 2021 and 2022 there were no significant gains or losses on derivative transactions or portions thereof that have become ineffective as hedges or associated with an underlying exposure that did not occur. Sale of financial assets From time to time, in the normal course of business, the Company transfers accounts receivables, unbilled receivables, net investment in finance lease receivables (financial assets) to banks. Under the terms of the arrangements, the Company surrenders control over the financial assets and transfer is without recourse. Accordingly, such transfers are recorded as sale of financial assets. Gains and losses on sale of financial assets without recourse are recorded at the time of sale based on the carrying value of the financial assets and fair value of servicing liability. The incremental impact of such transactions on our cash flow and liquidity for the year ended March 31, 2020, 2021 and 2022 is not material. In certain cases, transfer of financial assets may be with recourse. Under arrangements with recourse, the Company is obligated to repurchase the uncollected financial assets, subject to limits specified in the agreement with the banks. These are reflected as part of loans and borrowings in the consolidated statement of financial position. Financial risk management Market Risk Market risk is the risk of loss of future earnings, to fair values or to future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including investments, foreign currency receivables, payables and loans and borrowings. The Company’s exposure to market risk is a function of investment and borrowing activities and revenue generating activities in foreign currency. The objective of market risk management is to avoid excessive exposure of the Company’s earnings and equity to losses. Risk Management Procedures The Company manages market risk through a corporate treasury department, which evaluates and exercises independent control over the entire process of market risk management. The corporate treasury department recommends risk management objectives and policies, which are approved by senior management and Audit Committee. The activities of this department include management of cash resources, implementing hedging strategies for foreign currency exposures, borrowing strategies, and ensuring compliance with market risk limits and policies. Foreign currency risk The Company operates internationally, and a major portion of its business is transacted in several currencies. Consequently, the Company is exposed to foreign exchange risk through receiving payment for sales and services in the United States of America and elsewhere and making purchases from overseas suppliers in various foreign currencies. The exchange rate risk primarily arises from foreign exchange revenue, receivables, cash balances, forecasted cash flows, payables and foreign currency loans and borrowings. A significant portion of the Company’s revenue is in the U.S. Dollar, the Pound Sterling, the Euro, the Canadian Dollar and the Australian Dollar, while a large portion of costs are in Indian rupees. The exchange rate between the rupee and these currencies has fluctuated significantly in recent years and may continue to fluctuate in the future. Appreciation of the rupee against these currencies can adversely affect the Company’s results of operations. The Company evaluates exchange rate exposure arising from these transactions and enters foreign currency derivative instruments to mitigate such exposure. The Company follows established risk management policies, including the use of derivatives like foreign exchange forward/option contracts to hedge forecasted cash flows denominated in foreign currency. The Company has designated certain derivative instruments as cash flow hedges to mitigate the foreign exchange exposure of forecasted highly probable cash flows. The Company also designates foreign currency borrowings as hedge against respective net investments in foreign operations. As at March 31, 2022, a ₹ ₹ ₹ ₹ ₹ ₹ ₹ ₹ The below table presents foreign currency risk from non-derivative financial instruments as at March 31, 2021 and 2022:
As at March 31, 2021 and 2022, respectively, every 1% increase/decrease in the respective foreign currencies compared to functional currency of the Company would impact results by approximately ₹ ₹ Interest rate risk Interest rate risk primarily arises from floating rate borrowing, including various revolving and other lines of credit. The Company’s investments are primarily in short-term investments, which do not expose it to significant interest rate risk. From time to time, the Company manages its net exposure to interest rate risk relating to borrowings by entering into interest rate swap agreements, which allows it to exchange periodic payments based on a notional amount and agreed upon fixed and floating interest rates. Certain borrowings are also transacted at fixed interest rates. If interest rates were to increase by 100 bps as on March 31, 2022, additional net annual interest expense on floating rate borrowing would amount to approximately ₹ Credit risk Credit risk arises from the possibility that customers may not be able to settle their obligations as agreed. To manage this, the Company periodically assesses the credit rating and financial reliability of customers, considering the financial condition, current economic trends, forward looking macroeconomic information, analysis of historical bad debts and ageing of accounts receivable. Individual risk limits are set accordingly. No single customer accounted for more than 10% of the accounts receivable as at March 31, 2021 and 2022, or revenues for the year ended March 31, 2020, 2021 and 2022. There is no significant concentration of credit risk. Counterparty risk Counterparty risk encompasses issuer risk on marketable securities, settlement risk on derivative and money market contracts and credit risk on cash and time deposits. Issuer risk is minimized by only buying securities which are at least AA rated in India based on Indian rating agencies. Settlement and credit risk is reduced by the policy of entering into transactions with counterparties that are usually banks or financial institutions with acceptable credit ratings. Exposure to these risks are closely monitored and maintained within predetermined parameters. There are limits on credit exposure to any financial institution. The limits are regularly assessed and determined based upon credit analysis including financial statements and capital adequacy ratio reviews. Liquidity risk Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company’s corporate treasury department is responsible for liquidity and funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. Management monitors the Company’s net liquidity position through rolling forecasts based on the expected cash flows. As at March 31, 2022, cash and cash equivalents are held with major banks and financial institutions. The table below provides details regarding the remaining contractual maturities of significant financial liabilities at the reporting date. The amounts include estimated interest payments and exclude the impact of netting agreements, if any.
The balanced view of liquidity and financial indebtedness is stated in the table below. The management for external communication with investors, analysts and rating agencies uses this calculation of the net cash position:
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Foreign currency translation reserve and Other reserves |
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Foreign currency translation reserve and Other reserves | 20. Foreign currency translation reserve and Other reserves The movement in foreign currency translation reserve attributable to equity holders of the Company is summarized below:
The movement in other reserves is summarized below:
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Income taxes |
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Income taxes | 21. Income taxes
The reconciliation between the provision of income tax and amounts computed by applying the Indian statutory income tax rate to profit before taxes is as follows:
The components of deferred tax assets and liabilities are as follows:
Movement in deferred tax assets and liabilities
Deferred taxes on unrealized foreign exchange gain / loss relating to cash flow hedges, fair value movements in investments and remeasurements of the defined benefit plans are recognized in other comprehensive income. Deferred tax liability on the intangible assets identified and carry forward losses on acquisitions is recorded by an adjustment to goodwill. Other than these, the change in deferred tax assets and liabilities is primarily recorded in the consolidated statement of income. In assessing the realizability of deferred tax assets, the Company considers the extent to which it is probable that the deferred tax asset will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carry-forwards become deductible. The Company considers the expected reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on this, the Company believes that it is probable that the Company will realize the benefits of these deductible differences. The amount of deferred tax asset considered realizable, however, could be reduced in the near term if the estimates of future taxable income during the carry-forward period are reduced. Deferred tax asset amounting to ₹ ₹ ₹ ₹ ₹ ₹ ₹ ₹ . The Company has recognized deferred tax assets of ₹ ₹ We have calculated our domestic tax liability under normal provisions. Accordingly, no deferred tax asset has been recognized towards MAT in the statement of financial position for the years ended March 31, 2021 and 2022. The effective MAT rate is 17.47%. The excess tax paid under MAT provisions over and above normal tax liability can be carried forward for a period of years and set-off against future tax liabilities computed under normal tax provisions. A substantial portion of the profits of the Company’s India operations are exempt from Indian income taxes being profits attributable to export operations and profits from units established under the Special Economic Zone Act, 2005 scheme. Units in designated special economic zones providing service on or after April 1, 2005 will be eligible for a deduction of 100 percent of profits or gains derived from the export of services for the first five years from commencement of provision of services and 50 percent of such profits and gains for a further five years. 50% tax deduction is available for a further five years subject to the unit meeting certain defined conditions. Profits from certain other undertakings are also eligible for preferential tax treatment. New Special Economic Zone units set up on or after April 1, 2021 are not eligible for the aforesaid deduction. The tax holiday period being currently available to the Company expires in various years through fisc al 2034-35. The impact of tax holidays has resulted in a decrease of current tax expense o ₹ ₹ ₹ for the years ended March 31, 2020, 2021 and 2022, respectively, compared to the effective tax amounts that we estimate the Company would have been required to pay if these incentives had not been available. The per share effect of these tax incentives for the years ended March 31, 2020, 2021 and 2022 wa ₹ ₹ ₹ Deferred income tax liabilities are recognized for all taxable temporary differences except in respect of taxable temporary differences associated with investments in subsidiaries where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Accordingly, deferred income tax liabilities on cumulative earnings of subsidiaries amounting to
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Dividends and Buyback of equity shares |
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Dividends and Buyback of equity shares | 22. Dividends and Buyback of equity shares The Company declares and pays dividends in Indian rupees. According to the Companies Act, 2013 any dividend should be declared out of accumulated distributable profits. A Company may, before the declaration of any dividend, transfer a percentage of its profits for that financial year as it may consider appropriate to the reserves. The cash dividends paid per equity share were ₹ ₹ ₹ ₹ ₹ ₹ The Board of Directors in their meeting held on March 25, 2022, declared an interim dividend of ₹ ₹ ₹ During the year ended March 31, 2020, the Company concluded the buyback of 323,076,923 equity shares as approved by the Board of Directors on April 16, 2019. This has resulted in a total cash outflow of ₹ ₹ ₹ paid-up equity share capital has reduced by ₹ During the year ended March 31, 2021, the Company concluded the buyback of 237,500,000 equity shares as approved by the Board of Directors on October 13, 2020. This has resulted in a total cash outflow of
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Additional capital disclosures |
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Additional capital disclosures | 23. Additional capital disclosures The key objective of the Company’s capital management is to ensure that it maintains a stable capital structure with the focus on total equity to uphold investor, creditor, and customer confidence and to ensure future development of its business. The Company’s focus is to keep strong total equity base to ensure independence, security, as well as a high financial flexibility for potential future borrowings, if required without impacting the risk profile of the Company. The Company’s goal is to continue to be able to return excess liquidity to shareholders by continuing to distribute annual dividends in future periods. The amount of future dividends/ buyback of equity shares will be balanced with efforts to continue to maintain an adequate liquidity status. The capital structure as at March 31, 2021 and 2022 was as follows:
Loans and borrowings represent 16% and 21% of total capital as at March 31, 2021 and 2022, respectively. The Company is not subjected to any externally imposed capital requirements.
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Revenue | 24. Revenue A. Contract Assets and Liabilities The Company classifies its right to consideration in exchange for deliverables as either a receivable or a contract asset. A receivable is a right to consideration that is unconditional. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. For example, the Company recognizes a receivable for revenues related to time and materials contracts or volume based contracts. The Company presents such receivables as part of unbilled receivables at their net estimated realizable value. The same is tested for impairment as per the guidance in IFRS 9 using expected credit loss method. Contract liabilities : ₹ ₹ Contract assets: ₹ ₹ Contract assets and liabilities are reported in a net position on a contract-by-contract B. Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes contract liabilities and amounts that will be invoiced and recognized as revenue in future periods. Applying the practical expedient, the Company has not disclosed its right to consideration from customers in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date, which are contracts invoiced on time and material basis and volume based. As at March 31, 2020, 2021 and 2022, the aggregate amount of transaction price allocated to remaining performance obligations, other than those meeting the exclusion criteria above, were ₹ ₹ 384,881 and ₹ 328,191, respectively of which approximately 62%, 59% and % respectively is expected to be recognized as revenues within two years, and the remainder thereafter. This includes contracts with a substantive enforceable termination penalty if the contract is terminated without cause by the customer, based on an overall assessment of the contract carried out at the time of inception. Historically, customers have not terminated contracts without cause. C. Disaggregation of Revenue The tables below present disaggregated revenue from contracts with customers by business segment (refer to Note 34 “Segment Information”), sector and nature of contract. The Company believes that the below disaggregation best depicts the nature, amount, timing and uncertainty of revenue and cash flows from economic factors. Information on disaggregation of revenues for the year ended March 31, 2020 is as follows:
Information on disaggregation of revenues for the year ended March 31, 2021 is as follows:
Information on disaggregation of revenues for the year ended March 31, 2022 is as follows:
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Expenses by nature |
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Expenses by nature | 25. Expenses by nature
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Other operating income/(loss), net |
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Other operating income/(loss), net | 26. Other operating income/(loss), net Year ended March 31, 2020 During the year ended March 31, 2020, the Company concluded the sale of assets pertaining to Workday business and Cornerstone OnDemand business in Portugal, France, and Sweden. A gain of ₹ The Company has partially met the first year and second year business targets pertaining to the sale of its hosted data center business concluded during the year ended March 31, 2019. Change in fair value of the callable units pertaining to achievement of the business targets amounting to ₹ Year ended March 31, 2021 The Company has partially met the first and second-year business targets pertaining to the sale of its hosted data center business concluded during the year ended March 31, 2019. Change in fair value of the callable units pertaining to achievement of cumulative business targets amounting to ₹ Year ended March 31, 2022 The Company sold its investment in Ensono Holdings, LLC as a result of acquisition by another investor for a consideration o ₹ and recognized a cumulative gain of ₹ ₹ other comprehensive income being profit on sale of investment designated as FVTOCI. The Company also recognized ₹ for the year ended March 31, 2022 under other operating income/(loss), net towards change in fair value of callable units pertaining to achievement of cumulative business targets. The Company sold its investment in Denim Group as a result of acquisition by another investor for a consideration o f ₹ and recognized a cumulative gain of ₹ in other operating income/(loss), net including reclassification of exchange differences on foreign currency translation. |
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Finance expenses | 27. Finance expenses
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Finance and other income and Foreign exchange gains/(losses), net | 28. Finance and other income and Foreign exchange gains/(losses), net
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Earnings per equity share | 29. Earnings per equity share A reconciliation of profit for the year and equity shares used in the computation of basic and diluted earnings per equity share is set out below: Basic:
Diluted: The calculation is performed in respect of share options to determine the number of shares that could have been acquired at fair value (determined as the average market price of the Company’s shares during the year). The number of shares calculated as above is compared with the number of shares that would have been issued assuming the exercise of the share options.
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Employee stock incentive plans | 30. Employee stock incentive plans The stock compensation expense recognized for employee services received during the year ended March 31, 2020, 2021 and 2022, were ₹ ₹ ₹ Wipro Equity Reward Trust (“WERT”) In 1984, the Company established a controlled trust called the Wipro Equity Reward Trust (“WERT”). In the earlier years, WERT purchased shares of the Company out of funds borrowed from the Company. The Company’s Board Governance, Nomination and Compensation Committee recommends to WERT certain officers and key employees, to whom WERT issues shares from its holdings at nominal price subject to vesting conditions. WERT held 22,746,081, 19,401,215 and 14,689,729 treasury shares as at March 31, 2020, 2021 and 2022, respectively. Wipro Employee Stock Option Plans and Restricted Stock Unit Option Plans A summary of the general terms of grants under stock option plans and restricted stock unit option plans are as follows:
Employees covered under Stock Option Plans and Restricted Stock Unit ( “ RSU ” Stock Option Plans
The activity in equity-settled stock option plans and restricted stock unit option plan is summarized below:
The activity in cash-settled stock option plans and restricted stock unit option plan is summarized below:
The carrying value of liability towards Cash Settled ADS RSU’s outstanding was ₹ ₹ ₹ ₹ ** Restricted Stock Units arrangements that were modified during the year ended March 31, 2020 Pursuant to the SEBI circular dated October 10, 2019, prohibiting issuance of depository receipts by listed companies to NRIs, the Board Governance, Nomination and Compensation Committee approved in November 2019 cash pay out to its NRI employees in lieu of shares and upon exercise of vested ADS RSU under the Company’s WARSUP 2004 Plan, based on prevailing market price of ADS on the date of exercise. This change was accounted as a modification and the fair value on the date of modification of 561 has been recognised as financial liability with a corresponding adjustment to equity. ₹ ** Restricted Stock Units arrangements that were modified during the year ended March 31, 2021 Pursuant to the SEBI clarification dated December 18, 2020, the restriction under SEBI circular dated October 10, 2019, “Framework of Depository Receipts” shall not apply in case of issue of Depository Receipts to NRIs, pursuant to share based employee benefit schemes which are implemented by a company in terms of SEBI (Share Based Employee Benefits) Regulations 2014, the Board Governance, Nomination and Compensation Committee approved in January 2021, allotment of underlying equity shares in respect of ADSs to be issued and allocated to NRI employees upon exercise of vested ADS RSU under the Company’s WARSUP 2004 Plan. This change was accounted as a modification and the fair value on the date of modification was determined based on prevailing market price and accordingly an amount of ₹ The following table summarizes information about outstanding stock options and restricted stock unit option plan:
The weighted average grant date fair value of options granted during the year ended March 31, 2020, 2021 and 2022 was
₹ ₹ ₹ ₹ ₹ ₹ |
Employee benefits |
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Employee benefits | 31. Employee benefits a) Employee costs includes
The employee benefit cost is recognized in the following line items in the consolidated statement of income:
Defined benefit plan actuarial (gains)/losses recognized in other comprehensive income include:
b) Gratuity and foreign pension Defined benefit plans include gratuity for employees drawing salary in Indian rupees, pension and certain benefit plans in foreign jurisdictions. Amount recognized in the consolidated statement of income in respect of defined benefit plans is as follows:
Change in present value of defined benefit obligation is summarized below:
As at March 31, 2021 and 2022, plan assets were primarily invested in insurer managed funds. The Company has established an income tax approved irrevocable trust fund to which it regularly contributes to finance the liabilities of the gratuity plan. The fund’s investments are managed by certain insurance companies as per the selection made by the trustees among the fund plan available. The principal assumptions used for the purpose of actuarial valuation of these defined benefit plans are as follows:
The expected return on plan assets is based on expectation of the average long-term rate of return expected on investments of the fund during the estimated term of the obligations. The discount rate is primarily based on the prevailing market yields of government securities for the estimated term of the obligations. The estimates of future salary increase considered takes into account the inflation, seniority, promotion and other relevant factors. Attrition rate considered is the management’s estimate, based on previous years’ employee turnover of the Company. The expected future contribution and estimated future benefit payments from the fund are as follows:
The expected benefits are based on the same assumptions used to measure the Company’s benefit obligations as at March 31, 2022. Sensitivity for significant actuarial assumptions is computed to show the movement in defined benefit obligation by 1 percentage. As of March 31, 2022, every 1 percentage point increase/ (decrease) in discount rate will result in (decrease)/increase of defined benefit obligation by approximately ₹ ₹ ₹ ₹ As of March 31, 2022, every 1 percentage point increase/ (decrease) in expected rate of salary will result in increase/ (decrease) of defined benefit obligation by approximately ₹ ₹ ₹ ₹ The sensitivity analysis to significant actuarial assumptions may not be representative of the actual change in the defined benefit obligations as the change in assumptions may not occur in isolation since some of the assumptions may be correlated. Furthermore, in presenting the sensitivity analysis, the present value of the defined benefit obligations has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognized in the statement of financial position. c) Provident fund: The details of fund and plan assets are given below:
The total expense for the year ended March 31, 2020, 2021 and 2022 is ₹ ₹ ₹ The plan assets have been invested as per the regulations of Employees’ Provident Fund Organization (EPFO). The principal assumptions used in determining the present value obligation of interest guarantee under the deterministic approach are as follows:
d) Defined contribution plans: The total expense for the year ended March 31, 2020, 2021 and 2022 is ₹ ₹ ₹ |
Related party relationship and transactions |
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Related party relationship and transactions |
List of subsidiaries and associates as at March 31, 2022, are provid e d in the table below:
-166-
The remaining 3.32% equity securities of Encore Theme Technologies Private Limited will be acquired subject to and after receipt of certain regulatory approvals/confirmations. # 51% of equity securities of Wipro Doha LLC are held by a local shareholder. However, the beneficial interest in these holdings is with the Company. The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD incorporated in South Africa and Wipro Foundation in India.
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As at March 31, 2022,
Wipro, LLC e rest in Drivestream Inc, accounted for using the equity method.
@The Capital Markets Company Limited (Canada) and Capco (Canada) GP ULC act as Limited and General Partners, respectively.
(1) Mr. Azim H. Premji is the ultimate controlling party. (2) Mr. M.K. Sharma retired as Independent Director with effect from close of business hours on June 30, 2021. (3) Ms. Tulsi Naidu was appointed as Independent Director with effect from July 1, 2021 for a term of five years. Relatives of key management personnel: —Yasmeen A. Premji —Tariq A. Premji The Company has the following related party transactions:
All related party transactions were entered at an arm’s length basis and in the ordinary course of business. There are no materially significant related party transactions made by the Company with Promoters, Directors or Key Managerial Personnel, which may have a potential conflict with the interests of the Company at large. |
Commitments and contingencies |
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Commitments and contingencies |
Capital commitments: ₹ ₹ Guarantees: ₹ ₹ Contingencies and lawsuits: Income-tax Act, 1961, which have arisen in the ordinary course of its business. Some of the claims involve complex issues and it is not possible to make a reasonable estimate of the expected financial effect, if any, that will result from ultimate resolution of such proceedings. However, the resolution of these legal proceedings is not likely to have a material and adverse effect on the results of operations or the financial position of the Company. The Company’s assessments are completed for the years up to March 31, 2018. The Company has received demands on multiple tax issues. These claims are primarily arising out of denial of deduction under section 10A of the Income-tax Act, 1961 in respect of profit earned by the Company’s undertaking in Software Technology Park at Bengaluru, the appeals filed against the said demand before the Appellate authorities have been allowed in favor of the Company by the second appellate authority for the years up to March 31, 2008 which either has been or may be contested by the Income tax authorities before the Hon’ble Supreme Court of India. Other claims relate to disallowance of tax benefits on profits earned from Software Technology Park and Special Economic Zone units, capitalization of research and development expenses, transfer pricing adjustments on intercompany / inter unit transactions and other issues. Income tax claims against the Company amounting to ₹ ₹ The contingent liability in respect of disputed demands for excise duty, custom duty, sales tax and other matters amounting to ₹ ₹ The Hon’ble Supreme Court of India, through a ruling in February 2019, provided interpretation on the components of Salary on which the Company and its employees are to contribute towards Provident Fund under the Employee’s Provident Fund Act. Based on the current evaluation, the Company believes it is not probable that certain components of Salary paid by the Company will be subject to contribution towards Provident Fund due to the Hon’ble Supreme Court order. The Company will continue to monitor and evaluate its position based on future events and developments. |
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Text block [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment information |
The Company is organized into the following operating segments: IT Services, IT Products and India State Run Enterprise segment (“ ISRE IT Services: re-organized IT Services segment to four Strategic Market Units (“SMUs APMEA Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries. Americas 1 LATAM” Americas 2 hi-tech, energy and utilities. Europe APMEA The corresponding information for the year ended March 31, 2020 have been re-stated to give effect to the above changes. Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers. Prior to the Company’s re-organization of its IT services segment, the IT services segment was organized by seven industry verticals: Banking, Financial Services and Insurance (“BFSI Health BU CBU and Utilities (“ENU MFG TECH COMM Our IT Services segment provides a range of IT and IT enabled services which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure services, business process services, cloud, mobility and analytics services, research and development and hardware and software design. IT Products: ISRE: The Chairman of the Company has been identified as the Chief Operating Decision Maker (“ CODM Assets and liabilities used in the Company’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous. Information on reportable segments for the year ended March 31, 2020 is as follows:
Information on reportable segments for the year ended March 31, 2021 is as follows:
Information on reportable segments for the year ended March 31, 2022 is as follows:
Revenues from India, being Company’s country of domicile, is ₹ ₹ ₹ Revenues from United States of America and United Kingdom contributed more than 10% of Company’s total revenues as per table below:
No customer individually accounted for more than 10% of the revenues during the year ended March 31, 2020, 2021 and 2022. Management believes that it is currently not practicable to provide disclosure of geographical location wise assets, since the meaningful segregation of the available information is onerous. Notes:
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Customer Contract With Metro AG |
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Disclosure of customer contract with metro AG |
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Disclosure on the Code on Social Security, 2020 |
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Disclosure on the Code on Social Security, 2020 |
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Events after the reporting period |
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Events after the reporting period |
Refer to Note 7 for additional details on acquisitions completed after March 31, 2022. |
Material accounting policy information (Policies) |
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Basis of consolidation | (i) Basis of consolidation Subsidiaries and controlled trusts The Company determines the basis of control in line with the requirements of IFRS 10, Consolidated Financial Statements The financial statements of the Group companies are consolidated on a line-by-line Non-controlling interests Non-controlling interests in the net assets (excluding goodwill) of consolidated subsidiaries are identified separately from the Company’s equity. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interest’s proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement basis is made on an acquisition to acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interest’s share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interests even if it results in the non-controlling interests having a deficit balance. Investments accounted for using the equity method Investments accounted for using the equity method are entities in respect of which, the Company has significant influence, but not control, over the financial and operating policies. Generally, a Company has a significant influence if it holds between 20 and 50 percent of the voting power of another entity. Investments in such entities are accounted for using the equity method and are initially recognized at cost. The carrying amount of investment is increased/ decreased to recognize investors share of profit or loss of the investee after the acquisition date. Non-current assets and disposal groups held for sale Assets and liabilities of disposal groups that are available for immediate sale and where the sale is highly probable of being completed within one year from the date of classification are considered and classified as assets held for sale and liabilities associated with assets held for sale.
Non-current assets and disposal groups held for sale are measured at the lower of carrying amount and fair value less costs to sell. |
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Functional and presentation currency | (ii) Functional and presentation currency Items included in the financial statements of each of the Company’s entities are measured using the currency of the primary economic environment in which these entities operate (i.e. the “functional currency”). These consolidated financial statements are presented in Indian rupees, which is the functional currency of the Parent Company.
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Foreign currency transactions and translation | (iii) Foreign currency transactions and translation a) Transactions and balances Transactions in foreign currency are translated into the respective functional currencies using the exchange rates prevailing at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from translation at the exchange rates prevailing at the reporting date of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net, within results of operating activities except when deferred in other comprehensive income as qualifying cash flow hedges and qualifying net investment hedges. Net loss relating to translation or settlement of borrowings denominated in foreign currency are reported within finance expense. Net gain relating to translation or settlement of borrowings denominated in foreign currency are reported within finance and other income. Non-monetary assets and liabilities denominated in foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Translation differences on non-monetary financial assets measured at fair value at the reporting date, such as equities classified as financial instruments measured at fair value through other comprehensive income are included in other comprehensive income, net of taxes. b) Foreign operations For the purpose of presenting consolidated financial statements, the assets and liabilities of the Company’s foreign operations that have a functional currency other than Indian rupees are translated into Indian rupees using exchange rates prevailing at the reporting date. Income and expense items are translated at the average exchange rates for the period. Exchange differences arising, if any, are recognized in other comprehensive income and held in foreign currency translation reserve (FCTR), a component of equity, except to the extent that the translation difference is allocated to non-controlling interest. When a foreign operation is disposed of, the relevant amount recognized in FCTR is transferred to the consolidated statement of income as part of the profit or loss on disposal. Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the exchange rate prevailing at the reporting date. c) Others Foreign currency differences arising on the translation or settlement of a financial liability designated as a hedge of a net investment in a foreign operation are recognized in other comprehensive income and presented within equity in the FCTR to the extent the hedge is effective. To the extent the hedge is ineffective, such differences are recognized in the consolidated statement of income. When the hedged part of a net investment is disposed of, the relevant amount recognized in FCTR is transferred to the consolidated statement of income as part of the profit or loss on disposal. Foreign currency differences arising from translation of intercompany receivables or payables relating to foreign operations, the settlement of which is neither planned nor likely in the foreseeable future, are considered to form part of net investment in foreign operation and are recognized in FCTR. |
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Financial instruments | (iv) Financial instruments A) Non-derivative financial instruments: Non-derivative financial instruments consist of:
Non-derivative financial instruments are recognized initially at fair value. Subsequent to initial recognition, non-derivative financial instruments are measured as described below: a. Cash and cash equivalents The Company’s cash and cash equivalents consist of cash on hand and in banks and demand deposits with banks, which can be withdrawn at any time, without prior notice or penalty on the principal. For the purposes of the statement of cash flows, cash and cash equivalents include cash on hand, in banks and demand deposits with banks, net of outstanding bank overdrafts that are repayable on demand and are considered part of the Company’s cash management system. In the consolidated statement of financial position, bank overdrafts are presented under borrowings within current liabilities. b. Investments Financial instruments measured at amortized cost: Debt instruments that meet the following criteria are measured at amortized cost (except for debt instruments that are designated at fair value through Profit or Loss (FVTPL) on initial recognition):
Financial instruments measured at fair value through other comprehensive income (FVTOCI): Debt instruments that meet the following criteria are measured at fair value through other comprehensive income (FVTOCI) (except for debt instruments that are designated at fair value through Profit or Loss (FVTPL) on initial recognition):
Interest income is recognized in the consolidated statement of income for FVTOCI debt instruments. Other changes in fair value of FVTOCI financial assets are recognized in other comprehensive income. When the investment is disposed of, the cumulative gain or loss previously accumulated in reserves is transferred to the consolidated statement of income. Financial instruments measured at fair value through profit or loss (FVTPL): Instruments that do not meet the amortized cost or FVTOCI criteria are measured at FVTPL. Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized in consolidated statement of income. The gain or loss on disposal is recognized in the consolidated statement of income. Interest income is recognized in the consolidated statement of income for FVTPL debt instruments. Dividend on financial assets at FVTPL is recognized when the Group’s right to receive dividend is established. Investments in equity instruments: The Company carries certain equity instruments which are not held for trading. At initial recognition, the Company may make an irrevocable election to present subsequent changes in the fair value of an investment in an equity instrument in other comprehensive income (FVTOCI) or through statement of income (FVTPL). For investments designated to be classified as FVTOCI, movements in fair value of investments are recognized in other comprehensive income and the gain or loss is not transferred to consolidated statement of income on disposal of investments. For investments designated to be classified as FVTPL, both movements in fair value of investments and gain or loss on disposal of investments are recognized in the consolidated statement of income. Dividends from these investments are recognized in the consolidated statement of income when the Company’s right to receive dividends is established. c. Other financial assets: Other financial assets are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are presented as current assets, except for those maturing later than 12 months after the reporting date which are presented as non-current assets. These are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any impairment losses. These comprise trade receivables, unbilled receivables, finance lease receivables, employee and other advances and eligible current and non-current assets. d. Trade payables, accrued expenses, and other liabilities Trade payables, accrued expenses, and other liabilities are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest method. For these financial instruments, the carrying amounts approximate fair value due to the short-term maturity of these instruments. Contingent consideration recognized in a business combination is subsequently measured at fair value through profit or loss. B) Derivative financial instruments The Company is exposed to foreign currency fluctuations on foreign currency assets, liabilities, net investment in foreign operations and forecasted cash flows denominated in foreign currency. The Company limits the effect of foreign exchange rate fluctuations by following established risk management policies including the use of derivatives. The Company enters into derivative financial instruments where the counterparty is primarily a bank. Derivatives are recognized and measured at fair value. Attributable transaction costs are recognized in consolidated statement of income as cost. Subsequent to initial recognition, derivative financial instruments are measured as described below: a. Cash flow hedges Changes in the fair value of the derivative hedging instruments designated as a cash flow hedge are recognized in other comprehensive income and held in cash flow hedging reserve, net of taxes, a component of equity, to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net, within results from operating activities. If the hedging instrument no longer meets the criteria for hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the forecasted transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging reserve is transferred to the consolidated statement of income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, such cumulative balance is immediately recognized in the consolidated statement of income. b. Hedges of net investment in foreign operations The Company designates derivative financial instruments as hedges of net investments in foreign operations. The Company also designates foreign currency denominated borrowing as a hedge of net investment in foreign operations. Changes in the fair value of the derivative hedging instruments and gains/(losses) on translation or settlement of foreign currency denominated borrowings designated as a hedge of net investment in foreign operations are recognized in other comprehensive income and presented within equity in the FCTR to the extent that the hedge is effective. To the extent that the hedge is ineffective, changes in fair value are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net within results from operating activities. c. Others Changes in fair value of foreign currency derivative instruments neither designated as cash flow hedges nor hedges of net investment in foreign operations are recognized in the consolidated statement of income and reported within foreign exchange gains/(losses), net within results from operating activities. Changes in fair value and gains/(losses), net, on settlement of foreign currency derivative instruments relating to borrowings, which have not been designated as hedges are recorded in finance expenses. C) Derecognition of financial instruments The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IFRS 9. If the Company retains substantially all the risks and rewards of a transferred financial asset, the Company continues to recognize the financial asset and recognizes a borrowing for the proceeds received. A financial liability (or a part of a financial liability) is derecognized from the Company’s statement of financial position when the obligation specified in the contract is discharged or cancelled or expires.
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Equity and share capital | (v) Equity and share capital a) Share capital and Share premium The authorized share capital of the Company as at March 31, 2022 is ₹ ₹ ₹ ₹ Every holder of the equity shares, as reflected in the records of the Company, as at the date of the shareholder meeting shall have one vote in respect of each share held for all matters submitted to vote in the shareholder meeting. b) Shares held by controlled trust (Treasury shares) The Company’s equity shares held by the controlled trust, which is consolidated as a part of the Group are classified as Treasury shares. The Company has 22,746,081, 19,401,215 and 14,689,729 treasury shares as at March 31, 2020, 2021 and 2022, respectively. Treasury shares are recorded at acquisition cost. c) Retained earnings Retained earnings comprises of the Company’s undistributed earnings after taxes. This includes Capital reserve as at March 31, 2020, 2021 and 2022 amounting to ₹ ₹ ₹ d) Special Economic Zone Re-Investment reserve The Special Economic Zone Re-Investment Reserve has been created out of profit of eligible SEZ units as per provisions of section 10AA(1)(ii) of the Income–tax Act, 1961 for acquiring new plant and machinery. The said reserve should be utilized by the Company for acquiring plant and machinery as per the terms of Section 10AA(2) of the Income-tax Act, 1961. This reserve is not freely available for distribution. e) Share-based payment reserve The share-based payment reserve is used to record the value of equity-settled share-based payment transactions with employees. The amounts recorded in share-based payment reserve are transferred to share premium upon exercise of stock options and restricted stock unit options by employees. f) Foreign currency translation reserve (FCTR) The exchange differences arising from the translation of financial statements of foreign subsidiaries, differences arising from translation of long-term inter-company receivables or payables relating to foreign operations, settlement of which is neither planned nor likely in the foreseeable future, changes in fair value of the derivative hedging instruments and gains/losses on translation or settlement of foreign currency denominated borrowings designated as hedge of net investment in foreign operations are recognized in other comprehensive income, net of taxes and presented within equity in the FCTR. g) Cash flow hedging reserve Changes in fair value of derivative hedging instruments designated and effective as a cash flow hedge are recognized in other comprehensive income, net of taxes and presented within equity as cash flow hedging reserve. h) Other reserves Changes in the fair value of financial instruments measured at fair value through other comprehensive income and actuarial gains and losses on remeasurements of the defined benefit plans are recognized in other comprehensive income, net of taxes and presented within equity in other reserves. Other reserves also include Capital redemption reserve, which is not freely available for distribution. As per the Companies Act, 2013, Capital redemption reserve is created when a company purchases its own shares out of free reserves or share premium. A sum equal to the nominal value of the shares so purchased is transferred to capital redemption reserve. The reserve can be utilized in accordance with the provisions of section 69 of the Companies Act, 2013. As of March 31, 2022, capital redemption reserve amounting to ₹ ₹ i) Dividend A final dividend on common stock is recorded as a liability on the date of approval by the shareholders. An interim dividend is recorded as a liability on the date of declaration by the board of directors. j) Buyback of equity shares The buyback of equity shares, including tax thereon and related transaction costs are recorded as a reduction of free reserves. Further, capital redemption reserve is created as an apportionment from retained earnings. k) Bonus issue For the purpose of bonus issue, the amount is transferred from capital redemption reserves, share premium and retained earnings to the share capital. |
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Property, plant and equipment | (vi) Property, plant and equipment a) Recognition and measurement Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses, if any. Cost includes expenditures directly attributable to the acquisition of the asset. General and specific borrowing costs directly attributable to the construction of a qualifying asset are capitalized as part of the cost. Capital work-in-progress b) Depreciation The Company depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date the assets are available for use. Leasehold improvements are amortized over the shorter of estimated useful life of the asset or the related lease term. Term licenses are amortized over their respective contract term. Freehold land is not depreciated. The estimated useful life of assets is reviewed and where appropriate are adjusted, annually. The estimated useful lives of assets are as follows:
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. Subsequent expenditure relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be measured reliably. Deposits and advances paid towards the acquisition of property, plant and equipment outstanding as at each reporting date and the cost of property, plant and equipment not available for use before such date are disclosed under capital
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Business combinations | (vii) Business combination s , Goodwill, and Intangible assets a) Business combination s Business combinations are accounted for using the purchase (acquisition) method. The cost of an acquisition is measured as the fair value of the assets transferred, liabilities incurred or assumed, and equity instruments issued at the date of exchange by the Company. 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 acquisition are expensed as incurred. The cost of an acquisition also includes the fair value of any contingent consideration measured as at the date of acquisition. Any subsequent changes to the fair value of contingent consideration classified as liabilities, other than measurement period adjustments, are recognized in the consolidated statement of income.
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Goodwill | b) Goodwill The excess of the cost of an acquisition over the Company’s share in the fair value of the acquiree’s identifiable assets and liabilities is recognized as goodwill. If the excess is negative, a bargain purchase gain is recognized immediately in the consolidated statement of income. Goodwill is measured at cost less accumulated impairment (if any). Goodwill associated with disposal of an operation that is part of cash-generating unit is measured based on the relative values of the operation disposed of and the portion of the cash-generating unit retained, unless some other method better reflects the goodwill associated with the operation disposed of.
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Intangible assets | c) Intangible assets Intangible assets acquired separately are measured at cost of acquisition. Intangible assets acquired in a business combination are measured at fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less accumulated amortization and impairment losses, if any. The amortization of an intangible asset with a finite useful life reflects the manner in which the economic benefit is expected to be generated and is included in selling and marketing expenses in the consolidated statement of income. The estimated useful life of amortizable intangibles is reviewed and where appropriate is adjusted, annually. The estimated useful lives of the amortizable intangible assets are as follows:
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Leases | (viii) Leases On April 1, 2019, the Company adopted IFRS 16 “Leases”, which applied to all lease contracts outstanding as at April 1, 2019, using modified retrospective method by recording the cumulative effect of initial application as an adjustment to opening retained earnings. The adoption of the new standard has resulted in a reduction of ₹ ₹ The Company evaluates each contract or arrangement, whether it qualifies as lease as defined under IFRS 16. The Company as a lessee The Company enters into an arrangement for lease of land, buildings, plant and equipment including computer equipment and vehicles. Such arrangements are generally for a fixed period but may have extension or termination options. The Company assesses, whether the contract is, or contains, a lease, at its inception. A contract is, or contains, a lease if the contract conveys the right to – (a) control use of an identified asset, (b) obtain substantially all the economic benefits from use of the identified asset, and (c) direct the use of the identified asset. The Company determines the lease term as the non-cancellable period of a lease, together with periods covered by an option to extend the lease, where the Company is reasonably certain to exercise that option. The Company at the commencement of the lease contract recognizes a Right of Use (“ RoU low-value assets. For these short-term and low-value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the lease term. The cost of the RoU assets comprises the amount of the initial measurement of the lease liability, any lease payments made at or before the inception date of the lease plus any initial direct costs, less any lease incentives received. Subsequently, the RoU assets are measured at cost less any accumulated depreciation and accumulated impairment losses, if any. The RoU assets are depreciated using the straight-line method from the commencement date over the shorter of lease term or useful life of RoU assets. The estimated useful lives of RoU assets are determined on the same basis as those of property, plant and equipment. The Company applies IAS 36 to determine whether a RoU asset is impaired and accounts for any identified impairment loss as described in the impairment of non-financial assets below. For lease liabilities at the commencement of the lease, the Company measures the lease liability at the present value of the lease payments that are not paid at that date. The lease payments are discounted using the interest rate implicit in the lease, if that rate is readily determined, if that rate is not readily determined, the lease payments are discounted using the incremental borrowing rate that the Company would have to pay to borrow funds, including the consideration of factors such as the nature of the asset and location, collateral, market terms and conditions, as applicable in a similar economic environment. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. The Company recognizes the amount of the re-measurement of lease liability as an adjustment to the RoU assets. Where the carrying amount of the RoU asset is reduced to zero and there is a further reduction in the measurement of the lease liability, the Company recognizes any remaining amount of the re-measurement in consolidated statement of income. Payment of lease liabilities are classified as cash used in financing activities in the consolidated statement of cash flows. The Company as a lessor Leases under which the Company is a lessor are classified as a finance or operating lease. Lease contracts where all the risks and rewards are substantially transferred to the lessee are classified as a finance lease. All other leases are classified as operating lease. For leases under which the Company is an intermediate lessor, the Company accounts for the head-lease and the sub-lease as two separate contracts. The sub-lease is further classified either as a finance lease or an operating lease by reference to the RoU asset arising from the head-lease. |
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Inventories | (ix) Inventories Inventories are valued at lower of cost and net realizable value, including necessary provision for obsolescence. Cost is determined using the weighted average method. |
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Impairment | (x) Impairment a) Financial assets The Company applies the expected credit loss model for recognizing impairment loss on financial assets measured at amortized cost, debt instruments classified as FVTOCI, trade receivables, unbilled receivables, contract assets, finance lease receivables, and other financial assets. Expected credit loss is the difference between the contractual cash flows and the cash flows that the entity expects to receive, discounted using the effective interest rate. Loss allowances for trade receivables, unbilled receivables, contract assets and finance lease receivables are measured at an amount equal to lifetime expected credit loss. Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument. Lifetime expected credit loss is computed based on a provision matrix which takes in to account, risk profiling of customers and historical credit loss experience adjusted for forward looking information. For other financial assets, expected credit loss is measured at the amount equal to twelve months expected credit loss unless there has been a significant increase in credit risk from initial recognition, in which case those are measured at lifetime expected credit loss. b) Non-financial assets The Company assesses long-lived assets such as property, plant and equipment, RoU assets and acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable. If any such indication exists, the Company estimates the recoverable amount of the asset or group of assets. Goodwill is tested for impairment at least annually at the same time and when events occur or changes in circumstances indicate that the recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at the level of cash-generating unit or groups of cash -generating units which represents the lowest level at which goodwill is monitored for internal management purposes. The recoverable amount of an asset or cash generating unit is the higher of its fair value less cost of disposal (“ FVLCD value-in-use VIU |
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Employee benefits | (xi) Employee benefits a) Post-employment plans The Group participates in various employee benefit plans. Pensions and other post-employment benefits are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan, the Company’s sole obligation is to pay a fixed amount with no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits. The related actuarial and investment risks are borne by the employee. The expenditure for defined contribution plans is recognized as an expense during the period when the employee provides service. Under a defined benefit plan, it is the Company’s obligation to provide agreed benefits to the employees. The related actuarial and investment risks are borne by the Company. The present value of the defined benefit obligations is calculated by an independent actuary using the projected unit credit method. Remeasurements of the defined benefit plans, comprising actuarial gains or losses, and the return on plan assets (excluding interest) are immediately recognized in other comprehensive income, net of taxes and not reclassified to profit or loss in subsequent period. Net interest recognized in profit or loss is calculated by applying the discount rate used to measure the defined benefit obligation to the net defined benefit liability or asset. The actual return on the plan assets above or below the discount rate, is recognized as part of remeasurements of the defined benefit plans through other comprehensive income, net of taxes. The Company has the following employee benefit plans: A. Provident fund Eligible employees receive benefits under the Company’s provident fund plan, into which both the employer and employees make periodic contributions to the approved provident fund trust managed by the Company. A portion of the employer’s contribution is made to the government administered pension fund. The contributions to the trust managed by the Company is accounted for as a defined benefit plan as the Company is liable for any shortfall in the fund assets based on the government specified minimum rates of return. Certain employees receive benefits under the provident fund plan in which both the employer and employees make periodic contributions to the government administered provident fund. A portion of the employer’s contribution is made to the government administered pension fund. This is accounted as a defined contribution plan as the obligation of the Company is limited to the contributions made to the fund. B. Gratuity and foreign pension In accordance with the Payment of Gratuity Act, 1972, applicable for Indian companies, the Company provides for a lump sum payment to eligible employees, at retirement or termination of employment based on the last drawn salary and years of employment with the Company. The gratuity fund is managed by third party fund managers. The Company also maintains pension and similar plans for employees outside India, based on country specific regulations. These plans are partially funded, and the funds are managed by third party fund managers. The plans provide for monthly payout after retirement as per salary drawn and service period or for a lumpsum payment as set out in rules of each fund. The Company’s obligations in respect of these plans, which are defined benefit plans, are provided for based on actuarial valuation using the projected unit credit method. C. Superannuation Superannuation plan, a defined contribution scheme is administered by third party fund managers. The Company makes annual contributions based on a specified percentage of each eligible employee’s salary. b) Termination benefits Termination benefits are expensed when the Company can no longer withdraw the offer of those benefits. c) Short-term benefits Short-term employee benefit obligations such as cash bonus, management incentive plans or profit-sharing plans are measured on an undiscounted basis and are recorded as expense as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or management incentive plans or profit-sharing plans, if the Company 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. d) Compensated absences The employees of the Company are entitled to compensated absences. The employees can carry forward a portion of the unutilized accumulating compensated absences and utilize it in future periods or receive cash at retirement or termination of employment. The Company records an obligation for compensated absences in the period in which the employee renders the services that increases this entitlement. The Company measures the expected cost of compensated absences as the additional amount that the Company expects to pay as a result of the unused entitlement that has accumulated at the end of the reporting period. The Company recognizes accumulated compensated absences based on actuarial valuation using the projected unit credit method. Non-accumulating compensated absences are recognized in the period in which the absences occur. |
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Share based payment transactions | (xii) Share-based payment transactions Selected employees of the Company receive remuneration in the form of equity settled instruments or cash settled instruments, for rendering services over a defined vesting period and for Company’s performance-based stock options over the defined period. Equity instruments granted are measured by reference to the fair value of the instrument at the date of grant. In cases, where equity instruments are granted at a nominal exercise price, the intrinsic value on the date of grant approximates the fair value. The expense is recognized in the consolidated statement of income with a corresponding increase to the share-based payment reserve, a component of equity. The equity instruments or cash settled instruments generally vest in a graded manner over the vesting period. The fair value determined at the grant date is expensed over the vesting period of the respective tranches of such grants (accelerated amortization). The stock compensation expense is determined based on the Company’s estimate of equity instruments or cash settled instruments that will eventually vest. Cash Settled instruments granted are re-measured by reference to the fair value at the end of each reporting period and at the time of vesting. The expense is recognized in the consolidated statement of income with a corresponding increase to financial liability. |
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Provisions | (xiii) Provisions Provisions are recognized when the Company has a present obligation (legal or constructive), as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, considering 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. Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. Provisions for onerous contracts are measured at the present value of lower of the expected net cost of fulfilling the contract and the expected cost of terminating the contract. |
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Revenue | (xiv) Revenue The Company derives revenue primarily from software development, maintenance of software/hardware and related services, business process services, sale of IT and other products. Revenues from customer contracts are considered for recognition and measurement when the contract has been approved by the parties to the contract, the parties to contract are committed to perform their respective obligations under the contract, and the contract is legally enforceable. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. To recognize revenues, the Company applies the following five step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenues when a performance obligation is satisfied. When there is uncertainty as to collectability, revenue recognition is postponed until such uncertainty is resolved. At contract inception, the Company assesses its promise to transfer products or services to a customer to identify separate performance obligations. The Company applies judgement to determine whether each product or service promised to a customer is capable of being distinct, and are distinct in the context of the contract, if not, the promised products or services are combined and accounted as a single performance obligation. The Company allocates the arrangement consideration to separately identifiable performance obligation based on their relative stand-alone selling price or residual method. Stand-alone selling prices are determined based on sale prices for the components when it is regularly sold separately, in cases where the Company is unable to determine the stand-alone selling price the Company uses third-party prices for similar deliverables or the Company uses expected cost-plus margin approach in estimating the stand-alone selling price. For performance obligations where control is transferred over time, revenues are recognized by measuring progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the promised products or services to be provided. The method for recognizing revenues and costs depends on the nature of the services rendered: A. Time and materials contracts Revenues and costs relating to time and materials contracts are recognized as the related services are rendered. B. Fixed-price contracts i. Fixed-price development contracts Revenues from fixed-price development contracts, including software development, and integration contracts, where the performance obligations are satisfied over time, are recognized using the “percentage-of-completion” A contract asset is a right to consideration that is conditional upon factors other than the passage of time. Contract assets primarily relate to unbilled amounts on fixed-price development contracts and are classified as non-financial asset as the contractual right to consideration is dependent on completion of contractual milestones. A contract liability is an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. Unbilled receivables on other than fixed-price development contracts are classified as a financial asset where the right to consideration is unconditional and only the passage of time is required before the payment is due. ii. Maintenance contracts Revenues related to fixed-price maintenance contracts are recognized on a straight-line basis when services are performed through an indefinite number of repetitive acts over a specified period or ratably using percentage of completion method when the pattern of benefits from the services rendered to the customers and the cost to fulfil the contract is not even through the period of contract because the services are generally discrete in nature and not repetitive. Revenue for contracts in which the invoicing is representative of the value being delivered is recognized based on our right to invoice. If our invoicing is not consistent with value delivered, revenues are recognized as the service is performed using the percentage of completion method. In certain projects, a fixed quantum of service or output units is agreed at a fixed price for a fixed term. In such contracts, revenue is recognized with respect to the actual output achieved till date as a percentage of total contractual output. Any residual service unutilized by the customer is recognized as revenue on completion of the term. iii. Element or Volume based contracts Revenues and costs are recognized as the related services are rendered. C. Products Revenue on product sales are recognized when the customer obtains control of the specified product. D. Others
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Finance expenses | (xv) Finance expenses Finance expenses comprises interest cost on borrowings, lease liabilities and net defined benefit liability, gains or losses arising on re-measurement of financial assets measured at FVTPL, net loss on translation or settlement of foreign currency borrowings and changes in fair value and gains / (losses) on settlement of related derivative instruments. Borrowing costs that are not directly attributable to a qualifying asset are recognized in the consolidated statement of income using the effective interest method. |
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Finance and other income | (xvi) Finance and other income Finance and other income comprise interest income on deposits, dividend income, gains / (losses) on disposal of investments and net gain on translation or settlement of foreign currency borrowings. Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. |
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Income tax | (xvii) Income tax Income tax comprises current and deferred tax. Income tax expense is recognized in the consolidated statement of income except to the extent it relates to a business combination, or items directly recognized in equity or in other comprehensive income. a) Current income tax Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current tax amounts are those that are enacted or substantively enacted as at the reporting date and applicable for the period. While determining the tax provisions, the Company assesses whether each uncertain tax position is to be considered separately or together with one or more uncertain tax positions depending upon the nature and circumstances of each uncertain tax position. The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and liability simultaneously. b) Deferred income tax Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount in financial statements, except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profits or loss at the time of the transaction. Deferred income tax assets are recognized to the extent it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized. Deferred income tax liabilities are recognized for all taxable temporary differences except in respect of taxable temporary differences that is expected to reverse within the tax holiday period, taxable temporary differences associated with investments in subsidiaries, associates and foreign branches where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realized, or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. The Company offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax assets against current tax liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable entity, or on different taxable entities where there is a right and an intention to settle the current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. |
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Earnings per share | (xviii) Earnings per share Basic earnings per share is computed using the weighted average number of equity shares outstanding during the period adjusted for treasury shares held. Diluted earnings per share is computed using the weighted average number of equity and dilutive equivalent shares outstanding during the period, using the treasury stock method for options, except where the results would be anti-dilutive. The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any splits and bonus shares issues including for change effected prior to the approval of the consolidated financial statements by the Board of Directors. |
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Statement of cash flows | (xix) Statement of cash flows Cash flows are reported using the indirect method, whereby profit for the period is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash from operating, investing and financing activities of the Company are segregated. |
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Assets held for sale | (xx) Assets held for sale Sale of business is classified as held for sale, if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification as held for sale is met when disposal business is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale. |
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Discontinued operations | (xxi) Discontinued operations A discontinued operation is a component of the Company’s business that represents a separate line of business that has been disposed of or is held for sale, or is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs upon the earlier of disposal or when the operation meets the criteria to be classified as held for sale. |
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Disposal of assets | (xxii) Disposal of assets The gain or loss arising on disposal or retirement of assets is recognized in the consolidated statement of income. |
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New Accounting standards, amendments and interpretations adopted by the Company effective from April 1, 2020: | New Accounting standards, amendments and interpretations adopted by the Company effective from April 1, 2021: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – Interest Rate Benchmark Reform (Phase 2) The IASB issued Interest Rate Benchmark Reform (Phase 2), which amends IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. The amendments complement those issued in 2019 and focus on the effects on financial statements when a company replaces the old interest rate benchmark with an alternative benchmark rate as a result of the reform. The amendments in this final phase relate to the modification of financial assets, financial liabilities and lease liabilities, specific hedge accounting requirements, and disclosure requirements applying IFRS 7 to accompany the amendments regarding modifications and hedge accounting. The adoption of the amendment to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 did not have any material impact on the consolidated financial statements. IFRS 9 – Annual Improvements to IFRS Standards—2018-2020 On May 14, 2020, IASB amended IFRS 9 as part of its Annual Improvements to IFRS Standards 2018-2020. The amendment clarifies which fees an entity includes when it applies the ‘10 percent’ test in paragraph B3.3.6 of IFRS 9 in assessing whether to derecognize a financial liability. The early adoption of amendments to IFRS 9 did not have any material impact on the consolidated financial statements. Amendments to IAS 1 – Presentation of Financial Statements On February 12, 2021, the IASB amended IAS 1 “Presentation of Financial Statements”. The amendments require companies to disclose their material accounting policy information rather than their significant accounting policies. The amendments clarify that accounting policy information may be material because of its nature, even if the related amounts are immaterial. The amendments also clarified that accounting policy information is material if users of an entity’s financial statements would need it to understand other material information in the financial statements; and the amendments clarify that if an entity discloses immaterial accounting policy information, such information shall not obscure material accounting policy information. The early adoption of amendments to IAS 1 did not have any material impact on the consolidated financial statements. Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors On February 12, 2021, the IASB amended IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”. The amendments clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. That distinction is important because changes in accounting estimates are applied prospectively only to future transactions and other future events, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events. The early adoption of amendments to IAS 8 did not have any material impact on the consolidated financial statements. |
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New amendments not yet adopted: | New amendments not yet adopted: Certain new standards, amendments to standards and interpretations are not yet effective for annual periods beginning after April 1, 2021 and have not been applied in preparing these consolidated financial statements. New standards, amendments to standards and interpretations that could have potential impact on the consolidated financial statements of the Company are: Amendments to IAS 37 – Onerous Contracts – Cost of Fulfilling a Contract On May 14, 2020, the IASB issued “Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)”, amending the standard regarding costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. The amendment specifies that the “cost of fulfilling” a contract comprises the “costs that relate directly to the contract”. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract or an allocation of other costs that relate directly to fulfilling contracts. These amendments are effective for annual reporting periods beginning on or after January 1, 2022, with earlier application permitted. The adoption of amendments to IAS 37 is not expected to have any material impact on the consolidated financial statements. Amendment to IAS 1 – Presentation of Financial Statements On January 23, 2020, the IASB issued “Classification of liabilities as Current or Non-Current (Amendments to IAS 1)” providing a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangement in place at the reporting date. The amendments aim to promote consistency in applying the requirements by helping companies to determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments also clarified the classification requirements for debt a company might settle by converting it into equity. These amendments are effective for annual reporting periods beginning on or after January 1, 2023 and are to be applied retrospectively, with earlier application permitted. The adoption of amendments to IAS 1 is not expected to have any material impact on the consolidated financial statements of the Company. Amendments to IAS 12 – “Income Taxes” On May 7, 2021, the IASB amended IAS 12 “Income Taxes” and published ‘Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12)’ that clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. In specified circumstances, companies are exempt from recognizing deferred tax when they recognize assets or liabilities for the first time. The amendments clarify that this exemption does not apply to transactions such as leases and decommissioning obligations and companies are required to recognize deferred tax on such transactions. These amendments are effective for annual reporting periods beginning on or after January 1, 2023 and are to be applied retrospectively, with earlier application permitted. The Company is currently evaluating the impact of amendment to IAS 12 on the consolidated financial statements. |
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Summary of Estimated Useful Lives of Aamortizable Intangible Assets | The estimated useful life of amortizable intangibles is reviewed and where appropriate is adjusted, annually. The estimated useful lives of the amortizable intangible assets are as follows:
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Property, plant and equipment (Tables) |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text block [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment |
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Right-of-Use assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Disclosure of Right of use assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of right of use assets |
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Disclosure of Lease Expenses | The Company recognized the following expenses in the consolidated statement of income:
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Goodwill and intangible assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Text block [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Movement in Goodwill Balance | The movement in goodwill balance is given below:
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Summary of Goodwill Has Been Re-Allocated to The CGUs Using a Relative Value Approach | Goodwill recognized on business combinations is allocated to Cash Generating Units (CGUs), within the IT Services operating segment, which are expected to benefit from the synergies of the acquisitions.
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Summary of Movement in Intangible Assets | The movement in intangible assets is given below:
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Summary of Estimated Remaining Amortization Period for Intangible Assets Acquired on Acquisition | As at March 31, 2022, the net carrying value and the estimated remaining amortization period for intangible assets acquired on acquisition are as follows:
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Business combination (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Allocation of Purchase Price for Business Combinations | The following table presents the purchase price allocation:
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Schedule of the purchase price allocation | The following table presents the purchase price allocation:
The following table presents the provisional purchase price allocation:
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Investments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Investment |
* These deposits earn a fixed rate of interest. Term deposits include non-current and current deposits in lien with banks primarily on account of term deposits held as margin money deposits against guarantees amounting to ₹ ₹ non-current of ₹ ₹ |
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Summary of Financial Information in Respect of Investments Accounted for Using Equity Method | The aggregate summarized financial information in respect of the Company’s immaterial associates that are accounted for using the equity method is set forth below:
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Summary of Equity Method Investments | Details of investments in equity instruments- classified as FVTOCI
Details of investments in equity instruments- classified as FVTPL
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Trade receivables (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Trade Receivables |
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Summary of Allowance for Lifetime Expected Credit Loss |
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Inventories (Tables) |
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Schedule of Inventories |
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Cash and cash equivalents (Tables) |
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Summary of Cash and Cash Equivalents |
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Summary of Cash and Cash Equivalents for the Purpose of Cash Flow Statement | Cash and cash equivalents consist of the following for the purpose of the statement of cash flows:
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Other financial assets (Tables) |
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Summary of Other Financial Assets |
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Summary of Finance Lease Receivables | Finance lease receivables consist of assets that are leased to customers for a contract term normally ranging 1 to 5 years, with lease payments due in monthly or quarterly installments. Details of finance lease receivables are given below:
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Other assets (Tables) |
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Summary of detailed information about other assets |
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Loans, borrowings and bank overdrafts (Tables) |
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Summary of Current and Non-Current Borrowings |
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Summary of Long - Term Loans and Borrowings |
Interest expense on loans , borrowings and bank overdrafts was ₹ ₹ ₹ Cash and non-cash changes in liabilities arising from financing activities:
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Trade payables and accrued expenses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Trade Payables and Accrued Expenses |
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Other financial liabilities (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Disclosure Of Detailed Information About Other Financial Liabilities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of detailed information about other financial liabilities |
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Other liabilities (Tables) |
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Disclosure Of Detailed Information About Other Liabilities Explanatory |
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Provisions (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Provisions [abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of detailed information about provisions |
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Summary of Activity for Provision for Warranty and Other Provisions | A summary of activity in provision for warranty, provision for onerous contracts and other provisions is as follows:
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Financial instruments (Tables) |
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Summary of Financial Assets and Liabilities |
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Summary of Offsetting Other Financial Assets and Trade Payable and Other Liabilities | The following table contains information on other financial assets and trade payable and other liabilities subject to offsetting:
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Summary of Fair Value Hierarchy of Assets and Liabilities Measured at Fair Value of Recurring Basis | The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:
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Summary of Details of Assets and Liabilities Considered under Level 3 Classification | Details of assets and liabilities considered under Level 3 classification
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Summary of Aggregate Contracted Principal Amounts of Company's Derivative Contracts Outstanding | The following table presents the aggregate contracted principal amounts of the Company’s derivative contracts outstanding:
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Summary of Activity in Cash Flow Hedging Reserve within Equity Related to all Derivative Instruments Classified as Cash Flow Hedges | The following table summarizes activity in the cash flow hedging reserve within equity related to all derivative instruments classified as cash flow hedges:
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Summary of Foreign Currency Risk from Non-derivative Financial Instruments | The below table presents foreign currency risk from non-derivative financial instruments as at March 31, 2021 and 2022:
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Summary of Remaining Contractual Maturities of Significant Financial Liabilities at Reporting Date | The table below provides details regarding the remaining contractual maturities of significant financial liabilities at the reporting date. The amounts include estimated interest payments and exclude the impact of netting agreements, if any.
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Summary of Balanced View of Liquidity and Financial Indebtedness | The balanced view of liquidity and financial indebtedness is stated in the table below. The management for external communication with investors, analysts and rating agencies uses this calculation of the net cash position:
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Foreign currency translation reserve and Other reserves (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Movement in Foreign Currency Translation Reserve Attributable to Equity Holders | The movement in foreign currency translation reserve attributable to equity holders of the Company is summarized below:
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Summary Of Movement In Other Reserve | The movement in other reserves is summarized below:
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Income taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Allocation of Income Tax Expense to Other Comprehensive Income |
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Summary of Components of Income Tax Expense |
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Summary of Reconciliation of Income Tax Expense | The reconciliation between the provision of income tax and amounts computed by applying the Indian statutory income tax rate to profit before taxes is as follows:
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Summary of Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities are as follows:
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Movement in Deferred Tax Assets and Liabilities | Movement in deferred tax assets and liabilities
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Additional capital disclosures (Tables) |
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Capital Structure | The capital structure as at March 31, 2021 and 2022 was as follows:
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Revenue (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Schedule of Disaggregation of Revenues | Information on disaggregation of revenues for the year ended March 31, 2020 is as follows:
Information on disaggregation of revenues for the year ended March 31, 2021 is as follows:
Information on disaggregation of revenues for the year ended March 31, 2022 is as follows:
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Expenses by nature (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Expenses by Nature |
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Finance expenses (Tables) |
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Summary of Finance Expense |
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Finance and other income and Foreign exchange gains/(losses), net (Tables) |
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Summary of Finance and Other Income and Foreign Exchange Gains/(Losses), Net |
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Earnings per equity share (Tables) |
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Summary of Earnings Per Equity Share |
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Employee stock incentive plans (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of General Terms of Grants Under Stock Option Plans and Restricted Stock Unit Option Plans | A summary of the general terms of grants under stock option plans and restricted stock unit option plans are as follows:
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Summary of General Terms of Grants Under Stock Option Plans and Restricted Stock Unit Option Plans | The activity in equity-settled stock option plans and restricted stock unit option plan is summarized below:
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Summary of General Terms of Grants Under Stock Option Plans and Restricted Stock Unit Option Plans | The following table summarizes information about outstanding stock options and restricted stock unit option plan:
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Disclosure Of Activities In Cash Settled Stock Option Plans And Restricted Stock Unit Option Plan Explanatory [Text Block] | The activity in cash-settled stock option plans and restricted stock unit option plan is summarized below:
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Employee benefits (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Summary of Employee Costs | a) Employee costs includes
The employee benefit cost is recognized in the following line items in the consolidated statement of income:
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Summary of Defined Benefit Plan Actuarial (Gains) Losses Recognized in Other Comprehensive Income | Defined benefit plan actuarial (gains)/losses recognized in other comprehensive income include:
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Summary of Defined Benefit Plans | Amount recognized in the consolidated statement of income in respect of defined benefit plans is as follows:
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Summary of Change in Present Value of Defined Obligation and Plan Assets | Change in present value of defined benefit obligation is summarized below:
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Summary of Principal Assumptions Used for Purpose of Actuarial Valuation of Defined Benefit Plans | The principal assumptions used for the purpose of actuarial valuation of these defined benefit plans are as follows:
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Summary of Expected Future Contribution and Estimated Future Benefit Payments | The expected future contribution and estimated future benefit payments from the fund are as follows:
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Summary of Fund and Plan Assets of Provident Fund | The details of fund and plan assets are given below:
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Provident fund [member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statement [LineItems] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Principal Assumptions Used for Purpose of Actuarial Valuation of Defined Benefit Plans | The principal assumptions used in determining the present value obligation of interest guarantee under the deterministic approach are as follows:
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Related party relationship and transactions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Text block [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Subsidiaries and Associates | List of subsidiaries and associates as at March 31, 2022, are provid e d in the table below:
-166-
The remaining 3.32% equity securities of Encore Theme Technologies Private Limited will be acquired subject to and after receipt of certain regulatory approvals/confirmations. # 51% of equity securities of Wipro Doha LLC are held by a local shareholder. However, the beneficial interest in these holdings is with the Company. The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD incorporated in South Africa and Wipro Foundation in India.
-167-
As at March 31, 2022,
Wipro, LLC e rest in Drivestream Inc, accounted for using the equity method.
(1) Mr. Azim H. Premji is the ultimate controlling party. (2) Mr. M.K. Sharma retired as Independent Director with effect from close of business hours on June 30, 2021. (3) Ms. Tulsi Naidu was appointed as Independent Director with effect from July 1, 2021 for a term of five years. Relatives of key management personnel: —Yasmeen A. Premji —Tariq A. Premji |
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Summary of List of Controlled Trusts |
@The Capital Markets Company Limited (Canada) and Capco (Canada) GP ULC act as Limited and General Partners, respectively. |
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Summary of Related Party Transactions | The Company has the following related party transactions:
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Segment information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Text block [abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Information on Reportable Segments | Information on reportable segments for the year ended March 31, 2020 is as follows:
Information on reportable segments for the year ended March 31, 2021 is as follows:
Information on reportable segments for the year ended March 31, 2022 is as follows:
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Disclosure of Contribution of Revenue More than 10% from Geographical Areas | Revenues from United States of America and United Kingdom contributed more than 10% of Company’s total revenues as per table below:
|
Basis of Preparation of Consolidated Financial Statements - Additional Information (Detail) |
Mar. 31, 2022 |
---|---|
Foreign exchange rates [abstract] | |
Convenience translation Rate | 75.87 |
Material Accounting Policy Information - Additional Information (Detail) ₨ / shares in Units, ₨ in Millions, $ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Apr. 01, 2019
INR (₨)
|
Mar. 31, 2022
INR (₨)
Vote
₨ / shares
shares
|
Mar. 31, 2022
USD ($)
shares
|
Mar. 25, 2022
₨ / shares
|
Mar. 31, 2021
INR (₨)
shares
|
Mar. 31, 2020
INR (₨)
shares
|
|
Disclosure of classes of share capital [line items] | ||||||
Authorized share capital | ₨ 25,274 | |||||
Par value per share | ₨ / shares | ₨ 2 | |||||
Number of vote | Vote | 1 | |||||
Undistributed earnings after taxes not freely available for distribution - Capital Reserve | ₨ 47,061 | $ 620 | ₨ 41,154 | |||
Capital redemption reserve | 1,122 | 1,122 | ||||
IFRS Sixteen [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Net deferred tax assets | ₨ 138 | |||||
Reduction of retained earnings | ₨ 872 | |||||
Special economic zone re-investment reserve [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Undistributed earnings after taxes not freely available for distribution - Capital Reserve | ₨ 1,139 | ₨ 1,139 | ₨ 1,139 | |||
Bottom of range [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Percentage of voting power of another entity | 20.00% | |||||
Top of range [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Percentage of voting power of another entity | 50.00% | |||||
Treasury shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Treasury shares held | shares | 14,689,729 | 14,689,729 | 19,401,215 | 22,746,081 | ||
Ordinary Shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Authorized shares | shares | 12,504,500,000 | 12,504,500,000 | ||||
Par value per share | ₨ / shares | ₨ 2 | |||||
Preference shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Authorized shares | shares | 25,000,000 | 25,000,000 | ||||
Par value per share | ₨ / shares | ₨ 10 | |||||
10% Optionally Convertible Cumulative Preference Shares [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Authorized shares | shares | 150,000 | 150,000 | ||||
Par value per share | ₨ / shares | ₨ 100 |
Material Accounting Policy Information - Summary of Estimated Useful Lives of Assets (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Buildings [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 28 years |
Buildings [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 40 years |
Plant and equipment [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 5 years |
Plant and equipment [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 21 years |
Computer equipment and software [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 2 years |
Computer equipment and software [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 7 years |
Furniture, fixtures and equipment [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 3 years |
Furniture, fixtures and equipment [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 10 years |
Vehicles [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 4 years |
Vehicles [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 5 years |
Material Accounting Policy Information - Summary of Estimated Useful Lives of Amortizable Intangible Assets (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Customer related intangibles [member] | Bottom of range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of the amortizable intangible assets | 1 year |
Customer related intangibles [member] | Top of range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of the amortizable intangible assets | 15 years |
Marketing related intangibles [member] | Bottom of range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of the amortizable intangible assets | 2 years 6 months |
Marketing related intangibles [member] | Top of range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful lives of the amortizable intangible assets | 10 years |
Property, Plant and Equipment - Disclosure of Summary about Property, Plant and Equipment (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
|||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | ₨ 85,192 | ||||||||
Capital work-in-progress | 16,288 | ₨ 19,309 | |||||||
Ending balance | 90,898 | $ 1,198 | 85,192 | ||||||
Gross carrying value [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 175,194 | 161,644 | |||||||
Additions | 24,509 | 20,005 | |||||||
Additions through Business combinations | 708 | 84 | |||||||
Disposals | (9,274) | (6,971) | |||||||
Translation adjustment | 795 | 432 | |||||||
Ending balance | 191,932 | 175,194 | |||||||
Accumulated depreciation and amortisation [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 109,311 | 100,872 | |||||||
Depreciation and impairment | 15,992 | [1] | 14,529 | ||||||
Disposals | (8,634) | (6,307) | [1] | ||||||
Translation adjustment | 653 | 217 | |||||||
Ending balance | 117,322 | 109,311 | |||||||
Land [member] | Gross carrying value [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 3,815 | 3,761 | |||||||
Additions | 1,031 | 107 | |||||||
Disposals | (30) | (58) | |||||||
Translation adjustment | (3) | 5 | |||||||
Ending balance | 4,813 | 3,815 | |||||||
Buildings [member] | Gross carrying value [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 39,414 | 36,510 | |||||||
Additions | 1,676 | 3,569 | |||||||
Disposals | (440) | (765) | |||||||
Translation adjustment | 36 | 100 | |||||||
Ending balance | 40,686 | 39,414 | |||||||
Buildings [member] | Accumulated depreciation and amortisation [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 8,785 | 7,948 | |||||||
Depreciation and impairment | 1,536 | [1] | 1,500 | ||||||
Disposals | (346) | (695) | [1] | ||||||
Translation adjustment | 28 | 32 | |||||||
Ending balance | 10,003 | 8,785 | |||||||
Plant and equipment [member] | Gross carrying value [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | [2] | 110,855 | 100,695 | ||||||
Additions | [2] | 19,411 | 14,362 | ||||||
Additions through Business combinations | [2] | 370 | 27 | ||||||
Disposals | [2] | (7,863) | (4,532) | ||||||
Translation adjustment | 698 | [2] | 303 | ||||||
Ending balance | [2] | 123,471 | 110,855 | ||||||
Plant and equipment [member] | Accumulated depreciation and amortisation [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | [2] | 85,040 | 78,056 | ||||||
Depreciation and impairment | [2] | 12,305 | [1] | 11,123 | |||||
Disposals | [2] | (7,451) | (4,313) | [1] | |||||
Translation adjustment | [2] | 571 | 174 | ||||||
Ending balance | [2] | 90,465 | 85,040 | ||||||
Furniture fixtures and equipment [member] | Gross carrying value [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 20,692 | 19,870 | |||||||
Additions | 2,384 | 1,958 | |||||||
Additions through Business combinations | 335 | 57 | |||||||
Disposals | (826) | (1,218) | |||||||
Translation adjustment | 60 | 25 | |||||||
Ending balance | 22,645 | 20,692 | |||||||
Furniture fixtures and equipment [member] | Accumulated depreciation and amortisation [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 15,089 | 14,141 | |||||||
Depreciation and impairment | 2,141 | [1] | 1,845 | ||||||
Disposals | (725) | (908) | [1] | ||||||
Translation adjustment | 52 | 11 | |||||||
Ending balance | 16,557 | 15,089 | |||||||
Vehicles [member] | Gross carrying value [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 418 | 808 | |||||||
Additions | 7 | 9 | |||||||
Additions through Business combinations | 3 | ||||||||
Disposals | (115) | (398) | |||||||
Translation adjustment | 4 | (1) | |||||||
Ending balance | 317 | 418 | |||||||
Vehicles [member] | Accumulated depreciation and amortisation [member] | |||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||
Beginning balance | 397 | 727 | |||||||
Depreciation and impairment | 10 | [1] | 61 | ||||||
Disposals | (112) | (391) | [1] | ||||||
Translation adjustment | 2 | ||||||||
Ending balance | ₨ 297 | ₨ 397 | |||||||
|
Property, Plant and Equipment - Disclosure of Summary about Property, Plant and Equipment (Parenthetical) (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
Mar. 31, 2022
USD ($)
|
|
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net carrying value | ₨ 90,898 | ₨ 85,192 | $ 1,198 | |
Computer equipment and software [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net carrying value | 25,162 | 18,508 | ||
Software platform [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment charges | ₨ 0 | ₨ 285 | ₨ 0 |
Right-of-Use assets - Summary of right of use assets (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
|||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | ₨ 16,420 | ||||
Ending balance | 18,870 | $ 249 | ₨ 16,420 | ||
Gross carrying amount [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 25,770 | 22,689 | |||
Additions | 8,066 | 6,334 | |||
Additions through Business combinations | 2,956 | 436 | |||
Disposals | (6,189) | (3,760) | |||
Translation adjustment | 83 | 71 | |||
Ending balance | 30,686 | 25,770 | |||
Gross carrying amount [member] | Land [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 2,082 | 2,003 | |||
Additions | 15 | 79 | |||
Disposals | (819) | ||||
Ending balance | 1,278 | 2,082 | |||
Gross carrying amount [member] | Buildings [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 18,844 | 15,624 | |||
Additions | 7,517 | 5,323 | |||
Additions through Business combinations | 2,920 | 352 | |||
Disposals | (3,360) | (2,503) | |||
Translation adjustment | 72 | 48 | |||
Ending balance | 25,993 | 18,844 | |||
Gross carrying amount [member] | Plant and equipment [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | [1] | 3,918 | 4,236 | ||
Additions | [1] | 429 | 770 | ||
Disposals | [1] | (1,861) | (1,103) | ||
Translation adjustment | [1] | 25 | 15 | ||
Ending balance | [1] | 2,511 | 3,918 | ||
Gross carrying amount [member] | Vehicles [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 926 | 826 | |||
Additions | 105 | 162 | |||
Additions through Business combinations | 36 | 84 | |||
Disposals | (149) | (154) | |||
Translation adjustment | (14) | 8 | |||
Ending balance | 904 | 926 | |||
Accumulated depreciation and amortisation [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 9,350 | 5,941 | |||
Depreciation | 6,709 | 6,265 | |||
Disposals | (4,327) | (2,845) | |||
Translation adjustment | 84 | (11) | |||
Ending balance | 11,816 | 9,350 | |||
Accumulated depreciation and amortisation [member] | Land [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 55 | 27 | |||
Depreciation | 24 | 28 | |||
Disposals | (21) | ||||
Ending balance | 58 | 55 | |||
Accumulated depreciation and amortisation [member] | Buildings [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 6,703 | 3,928 | |||
Depreciation | 5,572 | 4,487 | |||
Disposals | (2,667) | (1,703) | |||
Translation adjustment | 68 | (9) | |||
Ending balance | 9,676 | 6,703 | |||
Accumulated depreciation and amortisation [member] | Plant and equipment [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | [1] | 2,157 | 1,721 | ||
Depreciation | [1] | 849 | 1,465 | ||
Disposals | [1] | (1,518) | (1,023) | ||
Translation adjustment | [1] | 24 | (6) | ||
Ending balance | [1] | 1,512 | 2,157 | ||
Accumulated depreciation and amortisation [member] | Vehicles [member] | |||||
Disclosure of quantitative information about right-of-use assets [line items] | |||||
Beginning balance | 435 | 265 | |||
Depreciation | 264 | 285 | |||
Disposals | (121) | (119) | |||
Translation adjustment | (8) | 4 | |||
Ending balance | ₨ 570 | ₨ 435 | |||
|
Right-of-Use assets - Summary of right of use assets (Parenthetical) (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | ₨ 18,870 | $ 249 | ₨ 16,420 |
Computer equipment [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | ₨ 6 | ₨ 8 |
Right-of-Use assets - Summary of Lease Expenses (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of quantitative information about right-of-use assets [abstract] | |||
Interest expenses on lease liabilities | ₨ 894 | ₨ 798 | ₨ 914 |
Rent expense recognized under facility expenses pertaining to: Leases of low-value assets | 150 | 53 | 44 |
Rent expense recognized under facility expenses pertaining to: Leases with less than twelve months of lease term | 2,392 | 1,876 | 2,085 |
Total | ₨ 3,436 | ₨ 2,727 | ₨ 3,043 |
Right-of-Use assets - Additional information (Detail) ₨ in Millions |
12 Months Ended |
---|---|
Mar. 31, 2022
INR (₨)
| |
Disclosure of quantitative information about right-of-use assets [line items] | |
Lease commitments which have not yet commenced | ₨ 1,657 |
Bottom of range [member] | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Lessee operating lease term of contract | 3 years |
Top of range [member] | |
Disclosure of quantitative information about right-of-use assets [line items] | |
Lessee operating lease term of contract | 7 years |
Goodwill and Intangible Assets - Summary of Movement in Goodwill Balance (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
|
Reconciliation of changes in goodwill [abstract] | |||
Balance at the beginning of the year | ₨ 139,127 | ₨ 131,012 | |
Translation adjustment | 5,293 | (1,357) | |
Acquisition through business combinations* (Refer to Note 7) | 102,569 | 9,472 | |
Balance at the end of the year | ₨ 246,989 | $ 3,255 | ₨ 139,127 |
Goodwill and Intangible Assets - Summary of Movement in Goodwill Balance (Parenthetical) (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Reconciliation of changes in goodwill [abstract] | ||
Change in purchase price allocations | ₨ 116 | ₨ (72) |
Goodwill and Intangible Assets - Additional Information (Detail) |
12 Months Ended | |
---|---|---|
Mar. 31, 2022
INR (₨)
Segments
|
Mar. 31, 2021
INR (₨)
Segments
|
|
Disclosure of detailed information about intangible assets [line items] | ||
Number of operating segments | Segments | 3 | 3 |
Impairment of goodwill | ₨ | ₨ 0 | ₨ 0 |
Goodwill and Intangible Assets - Summary of Goodwill Has Been Re-Allocated to The CGUs Using a Relative Value Approach (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
---|---|---|---|---|
Disclosure of information for cash-generating units [line items] | ||||
Goodwill | ₨ 246,989 | $ 3,255 | ₨ 139,127 | ₨ 131,012 |
Americas 1 [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Goodwill | 77,106 | 64,573 | ||
Americas 2 [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Goodwill | 84,166 | 34,038 | ||
Europe [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Goodwill | 64,288 | 26,641 | ||
Asia Pacific Middle East Africa [Member] | ||||
Disclosure of information for cash-generating units [line items] | ||||
Goodwill | ₨ 21,429 | ₨ 13,875 |
Goodwill and Intangible Assets - Summary of Movement in Intangible Assets (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
|||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | ₨ 13,085 | ||||
Ending balance | 43,555 | $ 574 | ₨ 13,085 | ||
Gross carrying value [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 27,937 | 39,188 | |||
Acquisition through business combinations (Refer to Note 7) | 37,648 | 3,288 | |||
Deductions/adjustments | (12,199) | (14,324) | |||
Translation adjustment | 1,408 | (215) | |||
Ending balance | 54,794 | 27,937 | |||
Accumulated amortization and impairment [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 14,852 | 22,826 | |||
Amortization and impairment | [1] | 8,210 | 6,608 | ||
Deductions/adjustments | (12,199) | (14,324) | |||
Translation adjustment | 376 | (258) | |||
Ending balance | 11,239 | 14,852 | |||
Customer related intangibles [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 12,078 | ||||
Ending balance | 33,883 | 12,078 | |||
Customer related intangibles [member] | Gross carrying value [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 26,326 | 32,490 | |||
Acquisition through business combinations (Refer to Note 7) | 27,834 | 2,460 | |||
Deductions/adjustments | (11,984) | (8,568) | |||
Translation adjustment | 1,190 | (56) | |||
Ending balance | 43,366 | 26,326 | |||
Customer related intangibles [member] | Accumulated amortization and impairment [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 14,248 | 17,898 | |||
Amortization and impairment | [1] | 6,872 | 5,060 | ||
Deductions/adjustments | (11,984) | (8,568) | |||
Translation adjustment | 347 | (142) | |||
Ending balance | 9,483 | 14,248 | |||
Marketing related intangibles [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 1,007 | ||||
Ending balance | 9,672 | 1,007 | |||
Marketing related intangibles [member] | Gross carrying value [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 1,611 | 6,698 | |||
Acquisition through business combinations (Refer to Note 7) | 9,814 | 828 | |||
Deductions/adjustments | (215) | (5,756) | |||
Translation adjustment | 218 | (159) | |||
Ending balance | 11,428 | 1,611 | |||
Marketing related intangibles [member] | Accumulated amortization and impairment [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Beginning balance | 604 | 4,928 | |||
Amortization and impairment | [1] | 1,338 | 1,548 | ||
Deductions/adjustments | (215) | (5,756) | |||
Translation adjustment | 29 | (116) | |||
Ending balance | ₨ 1,756 | ₨ 604 | |||
|
Goodwill and Intangible Assets - Summary of Movement in Intangible Assets (Parenthetical) (Detail) - Intangible assets [member] ₨ in Millions |
12 Months Ended |
---|---|
Mar. 31, 2021
INR (₨)
| |
Disclosure of detailed information about intangible assets [line items] | |
Impairment related to intangible recognized on acquisition | ₨ 1,879 |
Amortisation, intangible assets other than goodwill | ₨ 795 |
Goodwill and Intangible Assets - Summary of Estimated Remaining Amortization Period for Intangible Assets Acquired on Acquisition (Detail) ₨ in Millions |
12 Months Ended |
---|---|
Mar. 31, 2022
INR (₨)
Client
| |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | ₨ 43,555 |
Vara Infotech Private Limited [member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | 1,596 |
Rational Interaction, Inc. [member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | 1,483 |
Eximius Design, LLC [member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | 1,313 |
4C NV [member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | ₨ 471 |
IVIA Serviços de Informática Ltda [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 3.37 |
Net carrying value | ₨ | ₨ 332 |
International TechneGroup Incorporated [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 2.5 |
Net carrying value | ₨ | ₨ 212 |
Encore Theme Technologies Private Limited [member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | 117 |
Other [member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | ₨ 3,376 |
Capco - customer-related intangible [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 8.08 |
Net carrying value | ₨ | ₨ 22,197 |
Capco - marketing-related intangible [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 9.08 |
Net carrying value | ₨ | ₨ 7,477 |
Edgile, LLC [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 5.75 |
Net carrying value | ₨ | ₨ 2,847 |
Ampion Holdings Pty Ltd [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | 1,986 |
LeanSwift Solutions Inc. and Subsidiaries [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Net carrying value | ₨ | ₨ 148 |
Bottom of range [member] | Vara Infotech Private Limited [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 4.5 |
Bottom of range [member] | Rational Interaction, Inc. [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 0.89 |
Bottom of range [member] | Eximius Design, LLC [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 1.9 |
Bottom of range [member] | 4C NV [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 1.36 |
Bottom of range [member] | Encore Theme Technologies Private Limited [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 1.7 |
Bottom of range [member] | Other [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 0.25 |
Bottom of range [member] | Ampion Holdings Pty Ltd [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 2.35 |
Bottom of range [member] | LeanSwift Solutions Inc. and Subsidiaries [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 0.75 |
Top of range [member] | Vara Infotech Private Limited [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 7.5 |
Top of range [member] | Rational Interaction, Inc. [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 4.89 |
Top of range [member] | Eximius Design, LLC [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 5.4 |
Top of range [member] | 4C NV [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 3.36 |
Top of range [member] | Encore Theme Technologies Private Limited [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 3.71 |
Top of range [member] | Other [member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 10.25 |
Top of range [member] | Ampion Holdings Pty Ltd [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 5.35 |
Top of range [member] | LeanSwift Solutions Inc. and Subsidiaries [Member] | |
Disclosure of intangible assets material to entity [line items] | |
Estimated Remaining amortization period | 2.25 |
Business Combination - Additional Information (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2021
INR (₨)
|
May 20, 2022
INR (₨)
|
Apr. 11, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of detailed information about business combination [line items] | ||||||
Goodwill | ₨ 246,989 | ₨ 139,127 | $ 3,255 | ₨ 131,012 | ||
Transaction costs related to business acquisition | 175 | |||||
Top of range [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Revenue from acquisition | 802,835 | |||||
Profit from acquisition | 122,900 | |||||
Material acquisitions [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 13,801 | |||||
Cash and cash equivalents acquired | 1,026 | |||||
Trade receivables acquired | 1,159 | |||||
Goodwill | 102,453 | 9,660 | ||||
IVIA [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 1,643 | |||||
ETT [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Undiscounted Fair Value Of Contingent Consideration | 215 | |||||
Discounted Fair Value Of Contingent Consideration | 196 | |||||
ETT [Member] | Maximum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | 305 | |||||
ETT [Member] | Minimum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | ₨ 0 | |||||
ETT [Member] | Discounted cash flow [member] | Eighteen Months ending March 31 2022 [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Fair value of earn-out liability, percent | 7.40% | |||||
Eximius [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Undiscounted Fair Value Of Contingent Consideration | ₨ 1,695 | |||||
Discounted Fair Value Of Contingent Consideration | 1,637 | |||||
Eximius [Member] | Maximum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | 1,738 | |||||
Eximius [Member] | Minimum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | ₨ 0 | |||||
Eximius [Member] | Discounted cash flow [member] | Two years ending March31 2023 [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Fair value of earn-out liability, percent | 2.30% | |||||
IVIA Servicos de Informatica Ltda [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Undiscounted Fair Value Of Contingent Consideration | ₨ 525 | |||||
Discounted Fair Value Of Contingent Consideration | 460 | |||||
IVIA Servicos de Informatica Ltda [Member] | Maximum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | 746 | |||||
IVIA Servicos de Informatica Ltda [Member] | Minimum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | ₨ 0 | |||||
IVIA Servicos de Informatica Ltda [Member] | Discounted cash flow [member] | Three years ending September30 2023 [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Fair value of earn-out liability, percent | 5.70% | |||||
Encore Theme Technologies Private Limited [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | ₨ 849 | |||||
Eximius Design LLC and and Eximius Design India Private Limited [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 6,041 | |||||
4C NV and its subsidiaries [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 5,268 | |||||
CAPCO And Its Subsidiaries [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 109,530 | |||||
Cash and cash equivalents acquired | 4,278 | |||||
Goodwill | 81,890 | |||||
Revenue from acquisition | 66,616 | |||||
Profit from acquisition | 4,336 | |||||
Consideration in cash | 109,530 | |||||
Ampion Holdings Pty Ltd and Subsidiaries [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 9,102 | |||||
Cash and cash equivalents acquired | 855 | |||||
Goodwill | 6,322 | |||||
Consideration in cash | 9,102 | |||||
Edgile, LLC [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 17,176 | |||||
Cash and cash equivalents acquired | 907 | |||||
Goodwill | 12,956 | |||||
Undiscounted Fair Value Of Contingent Consideration | 1,531 | |||||
Discounted Fair Value Of Contingent Consideration | 1,462 | |||||
Consideration in cash | 17,176 | |||||
Edgile, LLC [Member] | Maximum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | 2,230 | |||||
Edgile, LLC [Member] | Minimum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | ₨ 0 | |||||
Edgile, LLC [Member] | Discounted cash flow [member] | Two years ending March31 2023 [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Fair value of earn-out liability, percent | 2.90% | 2.90% | ||||
LeanSwift Solutions Inc. and Subsidiaries [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | ₨ 1,606 | |||||
Cash and cash equivalents acquired | 139 | |||||
Goodwill | 1,285 | |||||
Consideration in cash | ₨ 1,606 | |||||
Other Acquisition [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Revenue from acquisition | 6,114 | |||||
Profit from acquisition | 55 | |||||
Convergence Acceleration Solutions, LLC [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | 5,584 | |||||
Cash and cash equivalents acquired | 127 | |||||
Trade receivables acquired | 453 | |||||
Goodwill | 3,416 | |||||
Undiscounted Fair Value Of Contingent Consideration | 1,804 | |||||
Discounted Fair Value Of Contingent Consideration | 1,662 | |||||
Convergence Acceleration Solutions, LLC [Member] | IT Product [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Goodwill deductible for tax purposes | 3,416 | |||||
Convergence Acceleration Solutions, LLC [Member] | Major business combination [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Total consideration | ₨ 5,584 | |||||
Convergence Acceleration Solutions, LLC [Member] | Maximum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | 2,277 | |||||
Convergence Acceleration Solutions, LLC [Member] | Minimum [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Contingent consideration payable | ₨ 0 | |||||
Rizing Intermediate Holdings Inc and its subsidiaries [Member] | Major business combination [member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percentage of voting interest acquired | 100.00% | |||||
Consideration in cash | ₨ 44,622 | |||||
CAS Group [Member] | Discounted cash flow [member] | Three Years Ending March312023 [Member] | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Fair value of earn-out liability, percent | 4.58% | 4.58% |
Business Combination - Schedule of Allocation of Purchase Price for Business Combinations (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
---|---|---|---|---|
Disclosure of detailed information about business combination [line items] | ||||
Goodwill | ₨ 246,989 | $ 3,255 | ₨ 139,127 | ₨ 131,012 |
Two Thousand And Twenty One Acquistions [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Net assets | 1,285 | |||
Fair value of Customer-related intangibles | 2,460 | |||
Fair value of Marketing-related intangibles | 828 | |||
Deferred tax liabilities on intangible assets | (432) | |||
Total | 4,141 | |||
Goodwill | 9,660 | |||
Total purchase price | ₨ 13,801 |
Business Combination - Schedule of the purchase price allocation (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
---|---|---|---|---|
Disclosure of detailed information about business combination [line items] | ||||
Goodwill | ₨ 246,989 | $ 3,255 | ₨ 139,127 | ₨ 131,012 |
Capco And Its Subsidiaries [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Net assets | 4,667 | |||
Fair value of Customer-related intangibles | 24,273 | |||
Fair value of Marketing-related intangibles | 8,083 | |||
Deferred tax liabilities on intangible assets | (9,383) | |||
Total | 27,640 | |||
Goodwill | 81,890 | |||
Total purchase price | 109,530 | |||
Cash and cash equivalents | 4,278 | |||
Fair value of acquired trade receivables included in net assets | 6,167 | |||
Gross contractual amount of acquired trade receivables | 6,181 | |||
Less: Allowance for lifetime expected credit loss | (14) | |||
Transaction costs included in general and administrative expenses | 358 | |||
Ampion Holdings Pty Ltd and Subsidiaries [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Net assets | 1,235 | |||
Fair value of Customer-related intangibles | 1,748 | |||
Fair value of Marketing-related intangibles | 460 | |||
Deferred tax liabilities on intangible assets | (663) | |||
Total | 2,780 | |||
Goodwill | 6,322 | |||
Total purchase price | 9,102 | |||
Cash and cash equivalents | 855 | |||
Fair value of acquired trade receivables included in net assets | 1,074 | |||
Gross contractual amount of acquired trade receivables | 1,074 | |||
Less: Allowance for lifetime expected credit loss | 0 | |||
Transaction costs included in general and administrative expenses | 49 | |||
Edgile, LLC [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Net assets | 1,306 | |||
Fair value of Customer-related intangibles | 1,754 | |||
Fair value of Marketing-related intangibles | 1,160 | |||
Deferred tax liabilities on intangible assets | 0 | |||
Total | 4,220 | |||
Goodwill | 12,956 | |||
Total purchase price | 17,176 | |||
Cash and cash equivalents | 907 | |||
Fair value of acquired trade receivables included in net assets | 819 | |||
Gross contractual amount of acquired trade receivables | 819 | |||
Less: Allowance for lifetime expected credit loss | 0 | |||
Transaction costs included in general and administrative expenses | 152 | |||
LeanSwift Solutions Inc. and Subsidiaries [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Net assets | 199 | |||
Fair value of Customer-related intangibles | 59 | |||
Fair value of Marketing-related intangibles | 111 | |||
Deferred tax liabilities on intangible assets | (48) | |||
Total | 321 | |||
Goodwill | 1,285 | |||
Total purchase price | 1,606 | |||
Cash and cash equivalents | 139 | |||
Fair value of acquired trade receivables included in net assets | 205 | |||
Gross contractual amount of acquired trade receivables | 221 | |||
Less: Allowance for lifetime expected credit loss | (16) | |||
Transaction costs included in general and administrative expenses | 88 | |||
Convergence Acceleration Solutions, LLC [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Net assets | 554 | |||
Fair value of Customer-related intangibles | 1,614 | |||
Total | 2,168 | |||
Goodwill | 3,416 | |||
Total purchase price | 5,584 | |||
Cash and cash equivalents | ₨ 127 |
Investments - Schedule of Investment (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
||
---|---|---|---|---|---|
Disclosure of detailed information about financial instruments [line items] | |||||
Current Investments | ₨ 241,655 | $ 3,185 | ₨ 175,707 | ||
Total | 260,764 | 186,283 | |||
Financial instruments at FVTOCI | |||||
Financial instruments at FVTOCI | 219,802 | 141,954 | |||
Financial instruments at amortized cost | |||||
Inter corporate and term deposits | 22,923 | 20,827 | |||
Financial instruments at FVTPL | |||||
Financial instruments at FVTPL | 18,039 | 23,502 | |||
Non-current assets [member] | |||||
Financial instruments at FVTOCI | |||||
Financial instruments at FVTOCI | 19,109 | 10,576 | |||
Current Assets [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Current Investments | 241,655 | 175,707 | |||
Investments in equity instruments [member] | Non-current assets [member] | |||||
Financial instruments at FVTOCI | |||||
Financial instruments at FVTOCI | 14,963 | 10,572 | |||
Inter corporate and term deposits [member] | Non-current assets [member] | |||||
Financial instruments at FVTOCI | |||||
Financial instruments at FVTOCI | [1] | 1,657 | 4 | ||
Inter corporate and term deposits [member] | Current Assets [member] | |||||
Financial instruments at amortized cost | |||||
Inter corporate and term deposits | [1] | 21,266 | 20,823 | ||
Equity instruments | Non-current assets [member] | |||||
Financial instruments at FVTPL | |||||
Financial instruments at FVTPL | 1,976 | ||||
Fixed maturity plan mutual funds | Non-current assets [member] | |||||
Financial instruments at FVTPL | |||||
Financial instruments at FVTPL | 513 | ||||
Short-term mutual funds | Current Assets [member] | |||||
Financial instruments at FVTPL | |||||
Financial instruments at FVTPL | 15,550 | 23,502 | |||
Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds | Current Assets [member] | |||||
Financial instruments at FVTOCI | |||||
Financial instruments at FVTOCI | ₨ 204,839 | ₨ 131,382 | |||
|
Investments - Schedule of Investment (Parenthetical) (Detail) - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of detailed information about financial instruments [abstract] | ||
Term Deposits in Lien with banks-Current | ₨ 654 | ₨ 615 |
Term Deposits in Lien with banks-Non-Current | ₨ 0 | ₨ 4 |
Investments - Summary of Financial Information in Respect of Investments Accounted for Using Equity Method (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
Mar. 31, 2022
USD ($)
|
|
Disclosure of associates [abstract] | |||||
Carrying amount of the Company's interest in associates accounted for using the equity method | ₨ 774 | ₨ 1,464 | ₨ 1,383 | $ 10 | |
Company's share of net profit / (loss) of associates accounted for using the equity method in consolidated statement of income | ₨ 57 | $ 1 | ₨ 130 | ₨ 29 |
Investments - Summary of Equity Method Investments (Detail) - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | ₨ 14,963 | ₨ 10,572 |
Investments in equity instruments designated at fair value through profit or loss | 1,976 | |
Ensono Holdings, LLC [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 0 | 2,665 |
TLV Partners, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 1,209 | 804 |
Immuta, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 740 | 714 |
Tricentis Corporation [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 2,698 | 674 |
IntSights Cyber Intelligence Limited [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 0 | 620 |
Vectra Networks, Inc [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 1,064 | 562 |
Incorta Inc, Ltd. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 712 | 512 |
YugaByte, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 1,993 | 494 |
Tradeshift Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 379 | 367 |
Harte Hanks Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 575 | 319 |
Vicarious FPC, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 321 | 309 |
TLV Partners II, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 774 | 295 |
Avaamo Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 261 | 252 |
B Capital Fund II, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 493 | 220 |
Vulcan Cyber Ltd. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 227 | 219 |
CyCognito Ltd. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 977 | 216 |
Investments in equity instruments designated at fair value through profit or loss | 227 | |
Moogsoft (Herd) Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 133 | 179 |
Work-Bench Ventures II-A, LP [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 413 | 170 |
Boldstart Ventures IV, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 379 | 156 |
Sealights Technologies Ltd [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 182 | 146 |
Investments in equity instruments designated at fair value through profit or loss | 114 | |
CloudKnox Security Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 0 | 146 |
Headspin Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 145 | 140 |
Glilot Capital Partners III L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 289 | 87 |
Boldstart Opportunities II, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 296 | 79 |
TLV Partners III, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 288 | 73 |
Wep Peripherals Ltd. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 60 | 60 |
Wep Solutions Limited [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 41 | 26 |
Work-Bench Ventures III-A, LP [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 33 | 11 |
Altizon Systems Private Limited [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 19 | 38 |
Investments in equity instruments designated at fair value through profit or loss | 10 | |
Drivestream India Private Limited [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 19 | 19 |
Squadcast, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 91 | 0 |
Netspring Data, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 152 | ₨ 0 |
Lilt, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 378 | |
YugaByte, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 357 | |
Nexus Ventures VI, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 189 | |
Functionize, Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 152 | |
vFunction Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 152 | |
SYN Ventures Fund L P [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 118 | |
Incorta Inc. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 90 | |
Boldstart Opportunities III, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 55 | |
Sorenson Ventures, L.P. [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 42 | |
Glilot Capital Partners IV, L.P [Member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | 32 | |
TLV Partners IV, L.P. [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Investments in equity instruments designated at fair value through profit or loss | ₨ 60 |
Trade Receivables - Schedule of Trade Receivables (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
---|---|---|---|---|
Trade and other receivables [abstract] | ||||
Trade receivables | ₨ 130,283 | ₨ 109,733 | ||
Allowance for lifetime expected credit loss | (10,299) | (11,077) | ₨ (13,937) | |
Total | 119,984 | 98,656 | ||
Non-current | 4,765 | $ 63 | 4,358 | |
Current | ₨ 115,219 | $ 1,519 | ₨ 94,298 |
Trade Receivables - Summary of Allowance for Lifetime Expected Credit Loss (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of financial assets [abstract] | ||
Balance at the beginning of the year | ₨ 11,077 | ₨ 13,937 |
Additions / (write-back), net (Refer to Note 25) | (797) | 1,506 |
Charged against allowance | (76) | (4,381) |
Translation adjustment | 95 | 15 |
Balance at the end of the year | ₨ 10,299 | ₨ 11,077 |
Inventories - Schedule of Inventories (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|
Classes of current inventories [abstract] | |||
Stores and spare parts | ₨ 28 | ₨ 127 | |
Finished and traded goods | 1,306 | 937 | |
Inventories | ₨ 1,334 | $ 18 | ₨ 1,064 |
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
||
---|---|---|---|---|---|---|
Cash and cash equivalents [abstract] | ||||||
Cash and bank balances | ₨ 61,882 | ₨ 68,842 | ₨ 34,087 | |||
Demand deposits with banks | [1] | 41,954 | 100,951 | 110,412 | ||
Cash and cash equivalents | ₨ 103,836 | $ 1,369 | ₨ 169,793 | ₨ 144,499 | ||
|
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents for the Purpose of Cash Flow Statement (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2020
INR (₨)
|
Mar. 31, 2019
INR (₨)
|
---|---|---|---|---|---|---|
Cash and cash equivalents [abstract] | ||||||
Cash and cash equivalents (as above) | ₨ 103,836 | $ 1,369 | ₨ 169,793 | ₨ 144,499 | ||
Bank overdrafts | (3) | (130) | (395) | |||
Total | ₨ 103,833 | $ 1,369 | ₨ 169,663 | $ 2,236 | ₨ 144,104 | ₨ 158,525 |
Other financial Assets - Summary of Other Financial Assets (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2022
USD ($)
|
|
Non-current | |||
Security deposits | ₨ 1,396 | ₨ 1,477 | |
Interest receivables | 0 | 1,139 | |
Finance lease receivables | 4,262 | 3,144 | |
Others | 426 | 328 | |
Non-current financial asset | 6,084 | 6,088 | $ 80 |
Current | |||
Security deposits | 1,513 | 1,149 | |
Due from officers and employees | 1,301 | 411 | |
Interest receivables | 1,835 | 1,628 | |
Finance lease receivables | 5,065 | 3,438 | |
Deposit in interim dividend account | 27,410 | 0 | |
Others | 5,790 | 619 | |
Current financial asset | 42,914 | 7,245 | $ 566 |
Total | ₨ 48,998 | ₨ 13,333 |
Other financial assets - Summary of Finance Lease Receivables (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of recognised finance lease as assets by lessee [line items] | ||
Gross investment in lease | ₨ 9,727 | ₨ 6,900 |
Less: Unearned finance income | (400) | (318) |
Present value of minimum lease payment receivables | 9,327 | 6,582 |
Non-current | 4,262 | 3,144 |
Current | ₨ 5,065 | 3,438 |
Bottom of range [member] | ||
Disclosure of recognised finance lease as assets by lessee [line items] | ||
Contract Term | 1 year | |
Top of range [member] | ||
Disclosure of recognised finance lease as assets by lessee [line items] | ||
Contract Term | 5 years | |
Not later than one year [member] | ||
Disclosure of recognised finance lease as assets by lessee [line items] | ||
Gross investment in lease | ₨ 5,223 | 3,636 |
Present value of minimum lease payment receivables | 5,065 | 3,438 |
Later than one year but not later than five years [member] | ||
Disclosure of recognised finance lease as assets by lessee [line items] | ||
Gross investment in lease | 4,504 | 3,264 |
Present value of minimum lease payment receivables | ₨ 4,262 | ₨ 3,144 |
Other assets - Summary Of Detailed Information About Other Assets (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
||||
---|---|---|---|---|---|---|---|
Non-current | |||||||
Prepaid expenses | ₨ 7,079 | ₨ 3,417 | |||||
Costs to obtain contract | [1] | 3,128 | 3,413 | ||||
Costs to fulfil contract | [2] | 295 | 337 | ||||
Others (Refer to Note 35) | 4,324 | 8,768 | |||||
Non-current non-financial asset | 14,826 | $ 195 | 15,935 | ||||
Current | |||||||
Prepaid expenses | 15,839 | 12,121 | |||||
Due from officers and employees | 251 | 105 | |||||
Advance to suppliers | 3,179 | 3,199 | |||||
Balance with GST and other authorities | 7,566 | 7,903 | |||||
Costs to obtain contract | [1] | 820 | 759 | ||||
Costs to fulfil contract | [2] | 55 | 53 | ||||
Others | 1,223 | 783 | |||||
Current non-financial asset | 28,933 | $ 381 | 24,923 | ||||
Total | ₨ 43,759 | ₨ 40,858 | |||||
|
Other assets - Summary Of Detailed Information About Other Assets (Parenthetical) (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Statement [LineItems] | |||
Cost to obtain contract amortization | ₨ 902 | ₨ 1,257 | ₨ 1,237 |
Costs to fulfil contract amortization | ₨ 54 | ₨ 0 | ₨ 0 |
Loans, Borrowings and Bank Overdrafts - Additional Information (Detail) € in Millions, ₨ in Millions, ฿ in Millions, ر.س in Millions, د.إ in Millions, £ in Millions, Rp in Millions, .د.ب in Millions, $ in Millions, $ in Millions, $ in Millions |
12 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 23, 2021
INR (₨)
|
Jun. 23, 2021
USD ($)
|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2022
CAD ($)
|
Mar. 31, 2022
SAR (ر.س)
|
Mar. 31, 2022
EUR (€)
|
Mar. 31, 2022
GBP (£)
|
Mar. 31, 2022
BHD (.د.ب)
|
Mar. 31, 2022
AUD ($)
|
Mar. 31, 2022
AED (د.إ)
|
Mar. 31, 2022
THB (฿)
|
Mar. 31, 2022
IDR (Rp)
|
|
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Borrowings | ₨ 151,696 | ₨ 83,332 | |||||||||||||
Bank overdraft [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | 95,146 | 60,363 | |||||||||||||
Interest expense on loans, borrowings and bank overdrafts | 3,261 | 1,897 | ₨ 3,166 | ||||||||||||
Line of credit [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | 86,873 | ||||||||||||||
Line of credit [member] | U.S.Dollar [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | $ | $ 713.0 | ||||||||||||||
Remaining borrowing capacity | $ | $ 563.0 | ||||||||||||||
Line of credit [member] | Canadian Dollar [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | $ | $ 10 | ||||||||||||||
Remaining borrowing capacity | $ | $ 10 | ||||||||||||||
Line of credit [member] | EURO [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | € | € 18 | ||||||||||||||
Remaining borrowing capacity | € | € 18 | ||||||||||||||
Line of credit [member] | Indonesia, Rupiahs [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | Rp | Rp 290 | ||||||||||||||
Remaining borrowing capacity | Rp | Rp 290 | ||||||||||||||
Line of credit [member] | Indian Rupee [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Remaining borrowing capacity | 10,223 | ||||||||||||||
Line of credit [member] | Saudi Arabia, Riyals [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | ر.س | ر.س 140 | ||||||||||||||
Remaining borrowing capacity | ر.س | ر.س 40 | ||||||||||||||
Line of credit [member] | United Kingdom, Pounds [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | £ | £ 7 | ||||||||||||||
Remaining borrowing capacity | £ | £ 7 | ||||||||||||||
Line of credit [member] | Australia, Dollars [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | $ | $ 90 | ||||||||||||||
Line of credit [member] | Bahrain, Dinars [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | .د.ب | .د.ب 1 | ||||||||||||||
Remaining borrowing capacity | .د.ب | .د.ب 1 | ||||||||||||||
Line of credit [member] | United Arab Emirates, Dirhams [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | د.إ | د.إ 3 | ||||||||||||||
Remaining borrowing capacity | د.إ | د.إ 3 | ||||||||||||||
Line of credit [member] | Thailand, Baht [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | ฿ | ฿ 5 | ||||||||||||||
Remaining borrowing capacity | ฿ | ฿ 5 | ||||||||||||||
Revolving credit facilities non-fund based [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Loans, Borrowings and Bank overdrafts | 48,369 | 56,421 | |||||||||||||
Remaining borrowing capacity | ₨ 31,276 | ₨ 39,293 | |||||||||||||
Unsecured Notes 2026 [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Borrowings | $ | $ 750.0 | ||||||||||||||
Interest rate | 1.50% | ||||||||||||||
Effective borrowings, interest rate | 1.6939% | ||||||||||||||
Final maturity | June 23, 2026 | June 23, 2026 | |||||||||||||
Discounted price rate | 99.636% | 99.636% | |||||||||||||
Borrowing issue expense and discount | ₨ 501 | $ 6.7 | |||||||||||||
Unsecured Notes 2026 [member] | U.S.Dollar [member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Final maturity | June-26 |
Loans, borrowings and bank overdrafts - Summary of Current and Non-Current Borrowings (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
||
---|---|---|---|---|---|---|
Non-current | ||||||
Unsecured Notes 2026 | [1] | ₨ 56,403 | ₨ 0 | |||
Borrowings from banks | 0 | 7,310 | ||||
Loans from institutions other than banks | 60 | 148 | ||||
Total | 56,463 | $ 744 | 7,458 | |||
Current | ||||||
Bank overdrafts | 3 | 130 | ₨ 395 | |||
Borrowings from Banks | 95,143 | 75,585 | ||||
Loans from institutions other than banks | 87 | 159 | ||||
Current borrowings and current portion of non-current borrowings | 95,233 | $ 1,255 | 75,874 | |||
Borrowings | ₨ 151,696 | ₨ 83,332 | ||||
|
Loans, Borrowings and Bank Overdrafts - Summary of Long - Term Loans and Borrowings (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Jun. 23, 2021 |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2021
USD ($)
|
|
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | ₨ 56,550 | ₨ 22,969 | |||
Non-current portion of long term loans and borrowings | 56,463 | $ 744 | 7,458 | ||
Current portion of long term loans and borrowings | 87 | 15,511 | |||
Unsecured Notes 2026 [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Final maturity | June 23, 2026 | ||||
Unsecured Notes 2026 [member] | U.S.Dollar [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | ₨ 56,403 | $ 744 | |||
Final maturity | June-26 | ||||
Unsecured Loans [member] | U.S.Dollar [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | 22,671 | $ 310 | |||
Unsecured Loans [member] | Canadian Dollar [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | 10 | ||||
Unsecured Loans [member] | Indian Rupee [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | ₨ 141 | 240 | |||
Final maturity | March-24 | ||||
Unsecured Loans [member] | Australian Dollar [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | 26 | ||||
Unsecured Loans [member] | Great British Pound [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | 12 | ||||
Unsecured Loans [member] | EURO [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Unsecured loans | ₨ 6 | ₨ 10 | |||
Final maturity | April-23 |
Loans, Borrowings and Bank Overdrafts - Summary of Changes in Financing Liabilities Arising from Cash and Non-cash Changes (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance | ₨ 175,929 | ₨ 104,514 |
Cash flow | 58,453 | |
Issue expenses on Notes | (298) | |
Non cash changes, Additions to lease liabilities | 12,532 | 10,404 |
Non cash changes, Effective interest rate adjustment | 77 | |
Non cash changes, foreign exchange movements | 651 | (417) |
Borrowings [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance | 151,693 | 83,202 |
Cash flow | 68,310 | 6,212 |
Issue expenses on Notes | (298) | |
Non cash changes, Effective interest rate adjustment | 77 | |
Non cash changes, foreign exchange movements | 402 | (657) |
Bank overdrafts [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance | 3 | 130 |
Cash flow | (127) | (265) |
Lease liabilities [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance | 24,233 | 21,182 |
Cash flow | (9,730) | (8,660) |
Non cash changes, Additions to lease liabilities | 12,532 | 10,404 |
Non cash changes, foreign exchange movements | ₨ 249 | ₨ 240 |
Trade Payables and Accrued Expenses - Summary of Trade Payables and Accrued Expenses (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|
Trade and other current payables [abstract] | |||
Trade payables | ₨ 28,683 | ₨ 23,232 | |
Accrued expenses | 70,351 | 53,280 | |
Trade payables and accrued expenses | ₨ 99,034 | $ 1,305 | ₨ 76,512 |
Other financial liabilities - Summary of detailed information about other financial liabilities (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|
Non-current | |||
Contingent consideration (Refer to Note 19) | ₨ 2,423 | ₨ 2,158 | |
Advance from customers | 0 | 123 | |
Cash Settled ADS RSUs | 2 | 7 | |
Deposits and others | 536 | 3 | |
Other non-current financial liabilities | 2,961 | $ 39 | 2,291 |
Current | |||
Contingent consideration (Refer to Note 19) | 1,906 | 135 | |
Advance from customers | 1,582 | 496 | |
Cash Settled ADS RSUs | 18 | 24 | |
Interim dividend payable | 27,337 | 0 | |
Deposits and others | 2,267 | 815 | |
Current financial liabilities | 33,110 | $ 436 | 1,470 |
Other financial liabilities | ₨ 36,071 | ₨ 3,761 |
Other liabilities - Summary of Detailed Information About Other Liabilities Explanatory (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|
Non-current | |||
Employee benefits obligations | ₨ 2,720 | ₨ 3,055 | |
Others | 4,851 | 4,780 | |
Total non-current liabilities | 7,571 | $ 100 | 7,835 |
Current | |||
Statutory and other liabilities | 10,933 | 9,266 | |
Employee benefits obligations | 15,310 | 14,401 | |
Advance from customers | 629 | 362 | |
Others | 522 | 523 | |
Current non-financial liabilities | 27,394 | $ 361 | 24,552 |
Total | ₨ 34,965 | ₨ 32,387 |
Provisions - Summary of Detailed Information About Provisions (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
|||
---|---|---|---|---|---|---|
Non-current | ||||||
Provision for warranty | ₨ 1 | ₨ 2 | ||||
Non-current provisions | 1 | [1] | 2 | |||
Current | ||||||
Provision for warranty | 294 | 213 | ||||
Provision for onerous contracts | 1,946 | 2,358 | ||||
Others | 531 | 463 | ||||
Current provisions | 2,771 | $ 37 | 3,034 | |||
Total | ₨ 2,772 | ₨ 3,036 | ||||
|
Provisions - Additional Information (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Bottom of range [member] | |
Disclosure of other provisions [line items] | |
Provision for warranty utilization period | 1 year |
Top of range [member] | |
Disclosure of other provisions [line items] | |
Provision for warranty utilization period | 2 years |
Provisions - Summary of Activity for Provision for Warranty and Other Provisions (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of other provisions [line items] | ||
Balance at the beginning of the year | ₨ 3,036 | ₨ 2,455 |
Additional provision during the year | 1,578 | 1,637 |
Utilized/written-back during the year | (1,842) | (1,056) |
Balance at the end of the year | 2,772 | 3,036 |
Provision for warranty [member] | ||
Disclosure of other provisions [line items] | ||
Balance at the beginning of the year | 215 | |
Additional provision during the year | 307 | |
Utilized/written-back during the year | (227) | |
Balance at the end of the year | 295 | 215 |
Provision for onerous contracts [member] | ||
Disclosure of other provisions [line items] | ||
Balance at the beginning of the year | 2,358 | 1,841 |
Additional provision during the year | 1,080 | 1,122 |
Utilized/written-back during the year | (1,492) | (605) |
Balance at the end of the year | 1,946 | 2,358 |
Other provisions [member] | ||
Disclosure of other provisions [line items] | ||
Balance at the beginning of the year | 463 | 295 |
Additional provision during the year | 191 | 270 |
Utilized/written-back during the year | (123) | (102) |
Balance at the end of the year | ₨ 531 | ₨ 463 |
Financial Instruments - Summary of Financial Assets and Liabilities (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
---|---|---|---|---|
Financial Assets: | ||||
Cash and cash equivalents | ₨ 103,836 | $ 1,369 | ₨ 169,793 | ₨ 144,499 |
Investments | ||||
Financial instruments at FVTPL | 18,039 | 23,502 | ||
Financial instruments at FVTOCI | 219,802 | 141,954 | ||
Financial instruments at Amortized cost | 22,923 | 20,827 | ||
Other financial assets | ||||
Trade receivables | 119,984 | 98,656 | ||
Unbilled receivables | 60,809 | 27,124 | ||
Other assets | 48,998 | 13,333 | ||
Derivative assets | 3,038 | 4,080 | ||
Total | 597,429 | 499,269 | ||
Financial Liabilities: | ||||
Trade payables and accrued expenses | 99,034 | 76,512 | ||
Lease liabilities | 24,233 | 21,182 | ||
Other liabilities | 36,071 | 3,761 | ||
Loans, borrowings and bank overdrafts | 151,696 | 83,332 | ||
Derivative liabilities | 633 | 1,070 | ||
Total | ₨ 311,667 | ₨ 185,857 |
Financial Instruments - Summary of Offsetting Other Financial Assets and Trade Payable and Other Liabilities (Detail) - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of offsetting of financial assets liabilities [abstract] | ||
Gross amounts of recognized other financial assets | ₨ 239,897 | ₨ 146,709 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | (10,106) | (7,596) |
Net amounts of recognized other financial assets presented in the statement of financial position | 229,791 | 139,113 |
Gross amounts of recognized trade payables and other payables | 145,211 | 87,869 |
Financial liabilities Gross amounts of recognized financial liabilities set off in the statement of financial position | (10,106) | (7,596) |
Net amounts of recognized trade payables and other payables presented in the statement of financial position | ₨ 135,105 | ₨ 80,273 |
Financial Instruments - Summary of Fair Value Hierarchy of Assets and Liabilities Measured at Fair Value of Recurring Basis (Detail) - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
---|---|---|---|
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Contingent consideration | ₨ (4,329) | ₨ (2,293) | ₨ 0 |
Fair value measurements at reporting date using [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Contingent consideration | (4,329) | (2,293) | |
Fair value measurements at reporting date using [member] | Cash flow hedges [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 2,242 | 2,998 | |
Fair value of financial liabilities | (299) | (816) | |
Fair value measurements at reporting date using [member] | Level 1 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Contingent consideration | 0 | ||
Fair value measurements at reporting date using [member] | Level 1 [member] | Cash flow hedges [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value of financial liabilities | 0 | ||
Fair value measurements at reporting date using [member] | Level 2 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Contingent consideration | 0 | ||
Fair value measurements at reporting date using [member] | Level 2 [member] | Cash flow hedges [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 2,242 | 2,998 | |
Fair value of financial liabilities | (299) | (816) | |
Fair value measurements at reporting date using [member] | Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Contingent consideration | (4,329) | (2,293) | |
Fair value measurements at reporting date using [member] | Level 3 [member] | Cash flow hedges [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value of financial liabilities | 0 | ||
Fair value measurements at reporting date using [member] | Derivative Assets - Others [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 796 | 1,082 | |
Fair value of financial liabilities | (334) | (254) | |
Fair value measurements at reporting date using [member] | Derivative Assets - Others [member] | Level 1 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value of financial liabilities | 0 | ||
Fair value measurements at reporting date using [member] | Derivative Assets - Others [member] | Level 2 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 796 | 1,082 | |
Fair value of financial liabilities | (334) | (254) | |
Fair value measurements at reporting date using [member] | Derivative Assets - Others [member] | Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value of financial liabilities | 0 | ||
Fair value measurements at reporting date using [member] | ShortTerm Mutual Funds [Member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 15,550 | 23,502 | |
Fair value measurements at reporting date using [member] | ShortTerm Mutual Funds [Member] | Level 1 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 15,550 | 23,502 | |
Fair value measurements at reporting date using [member] | ShortTerm Mutual Funds [Member] | Level 2 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value measurements at reporting date using [member] | ShortTerm Mutual Funds [Member] | Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value measurements at reporting date using [member] | Fixed Maturity Plan Mutual Funds [Member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 513 | ||
Fair value measurements at reporting date using [member] | Fixed Maturity Plan Mutual Funds [Member] | Level 1 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value measurements at reporting date using [member] | Fixed Maturity Plan Mutual Funds [Member] | Level 2 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 513 | ||
Fair value measurements at reporting date using [member] | Fixed Maturity Plan Mutual Funds [Member] | Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 0 | ||
Fair value measurements at reporting date using [member] | Equity Instruments [Member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 16,939 | 10,572 | |
Fair value measurements at reporting date using [member] | Equity Instruments [Member] | Level 1 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 41 | 26 | |
Fair value measurements at reporting date using [member] | Equity Instruments [Member] | Level 2 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 574 | 319 | |
Fair value measurements at reporting date using [member] | Equity Instruments [Member] | Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 16,324 | 10,227 | |
Fair value measurements at reporting date using [member] | Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 204,839 | 131,382 | |
Fair value measurements at reporting date using [member] | Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds | Level 1 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 1,251 | 2,217 | |
Fair value measurements at reporting date using [member] | Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds | Level 2 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | 203,588 | ₨ 129,165 | |
Fair value measurements at reporting date using [member] | Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds | Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [line items] | |||
Fair value of financial assets | ₨ 0 |
Financial Instruments - Summary of Details of Assets and Liabilities Considered under Level 3 Classification (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
|
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Beginning balance | ₨ 831,434 | ||
Ending balance | 1,079,182 | $ 14,224 | ₨ 831,434 |
Level 3 [member] | Investments in equity instruments [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Beginning balance | 10,227 | 9,178 | |
Additions | 3,973 | 1,575 | |
Disposals | (7,697) | (1,256) | |
Transfers out of level 3 | 0 | (27) | |
Unrealized gain recognized in statement of income (Refer to Note 23) | 40 | ||
Gain recognized in other comprehensive income | 9,423 | 1,009 | |
Translation adjustment | 358 | (252) | |
Ending balance | ₨ 16,324 | ₨ 10,227 |
Financial Instruments - Summary Of Contingent Consideration (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Contingent Consideration [Abstract] | ||
Balance at the beginning of the year | ₨ (2,293) | ₨ 0 |
Additions | (2,533) | (2,293) |
Reversals | 468 | 0 |
Payouts | 309 | 0 |
Finance expense recognized in statement of income | (117) | (25) |
Translation adjustment | (163) | 25 |
Balance at the end of the year | ₨ (4,329) | ₨ (2,293) |
Financial Instruments - Summary of Aggregate Contracted Principal Amounts of Company's Derivative Contracts Outstanding (Detail) ₺ in Millions, € in Millions, ₨ in Millions, ر.ق in Millions, ر.ع. in Millions, ر.س in Millions, د.إ in Millions, ¥ in Millions, ¥ in Millions, £ in Millions, zł in Millions, kr in Millions, kr in Millions, kr in Millions, SFr in Millions, R in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions |
Mar. 31, 2022
USD ($)
|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
EUR (€)
|
Mar. 31, 2022
GBP (£)
|
Mar. 31, 2022
AUD ($)
|
Mar. 31, 2022
SGD ($)
|
Mar. 31, 2022
ZAR (R)
|
Mar. 31, 2022
CAD ($)
|
Mar. 31, 2022
SAR (ر.س)
|
Mar. 31, 2022
PLN (zł)
|
Mar. 31, 2022
CHF (SFr)
|
Mar. 31, 2022
QAR (ر.ق)
|
Mar. 31, 2022
TRY (₺)
|
Mar. 31, 2022
NOK (kr)
|
Mar. 31, 2022
OMR (ر.ع.)
|
Mar. 31, 2022
SEK (kr)
|
Mar. 31, 2022
JPY (¥)
|
Mar. 31, 2022
DKK (kr)
|
Mar. 31, 2022
CNY (¥)
|
Mar. 31, 2022
AED (د.إ)
|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2021
EUR (€)
|
Mar. 31, 2021
GBP (£)
|
Mar. 31, 2021
AUD ($)
|
Mar. 31, 2021
SGD ($)
|
Mar. 31, 2021
ZAR (R)
|
Mar. 31, 2021
CAD ($)
|
Mar. 31, 2021
SAR (ر.س)
|
Mar. 31, 2021
PLN (zł)
|
Mar. 31, 2021
CHF (SFr)
|
Mar. 31, 2021
QAR (ر.ق)
|
Mar. 31, 2021
TRY (₺)
|
Mar. 31, 2021
NOK (kr)
|
Mar. 31, 2021
OMR (ر.ع.)
|
Mar. 31, 2021
SEK (kr)
|
Mar. 31, 2021
JPY (¥)
|
Mar. 31, 2021
DKK (kr)
|
Mar. 31, 2021
CNY (¥)
|
Mar. 31, 2021
AED (د.إ)
|
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
At cost [member] | Sell: Forward contracts [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | $ | $ 1,452 | $ 1,638 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | U.S.Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | $ | 1,413 | 1,577 | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | $ | [1] | 1,452 | 1,638 | |||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | EURO [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | € | € 191 | € 109 | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | € | 109 | 99 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Great British Pound [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | £ | £ 173 | £ 96 | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | £ | 91 | 104 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Australian Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | $ | $ 170 | $ 103 | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | $ | 47 | 29 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Singapore, Dollars [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | $ | $ 4 | $ 9 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | South Africa, Rand [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | R | R 8 | R 22 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Canadian Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | $ | $ 47 | $ 30 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Saudi Arabian Riyal [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ر.س | ر.س 33 | ر.س 137 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Poland, Zlotych [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | zł | zł 14 | zł 8 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Switzerland, Francs [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | SFr | SFr 5 | SFr 10 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Qatar, Rials | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ر.ق | ر.ق 11 | ر.ق 15 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Turkey, New Lira | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ₺ | ₺ 30 | ₺ 47 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Norway, Krone | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | kr | kr 13 | kr 4 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Oman, Rials | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ر.ع. | ر.ع. 2 | ر.ع. 2 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Sweden, Kronor | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | kr | kr 17 | kr 42 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Japan, Yen [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ¥ | ¥ 513 | ¥ 370 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Sell: Forward contracts [member] | Denmark, Kroner | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | kr | kr 2 | kr 0 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Range forward option contracts [member] | U.S.Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | $ | $ 493 | $ 138 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Range forward option contracts [member] | EURO [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | € | € 6 | € 20 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Range forward option contracts [member] | Great British Pound [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | £ | £ 28 | £ 55 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Range forward option contracts [member] | Australian Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | $ | $ 11 | $ 34 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Interest rate swaps [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ₨ 4,750 | ₨ 0 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | United Arab Emirates, Dirhams [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | د.إ | د.إ 26 | د.إ 9 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | Switzerland, Francs [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | SFr | SFr 2 | SFr 2 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | Norway, Krone | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | kr | kr 12 | kr 0 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | Sweden, Kronor | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | kr | kr 22 | kr 37 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | Japan, Yen [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ¥ | ¥ 447 | ¥ 0 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | Denmark, Kroner | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | kr | kr 16 | kr 45 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | RMB [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ¥ | ¥ 0 | ¥ 30 | ||||||||||||||||||||||||||||||||||||||||||||
At cost [member] | Buy l forward contract [member] | CNH [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | ¥ | ¥ 11 | ¥ 0 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 2,405 | 3,010 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | U.S.Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | 509 | 2,293 | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | [1] | 536 | 480 | |||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | EURO [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | 668 | 114 | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 1 | 202 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Great British Pound [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | 645 | (254) | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 81 | 98 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Australian Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | (217) | (246) | ||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (122) | 11 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Singapore, Dollars [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (1) | 5 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | South Africa, Rand [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | [2] | (1) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Canadian Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (25) | 3 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Saudi Arabian Riyal [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (1) | (1) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Poland, Zlotych [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (2) | 2 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Switzerland, Francs [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (5) | 13 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Qatar, Rials | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (4) | (6) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Turkey, New Lira | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 6 | 42 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Norway, Krone | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (3) | [2] | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Oman, Rials | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | [2] | (1) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Sweden, Kronor | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (2) | 10 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Japan, Yen [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 20 | 6 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Sell: Forward contracts [member] | Denmark, Kroner | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | [2] | 0 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Range forward option contracts [member] | U.S.Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | 217 | 385 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Range forward option contracts [member] | EURO [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | 8 | 24 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Range forward option contracts [member] | Great British Pound [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | 119 | (116) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Range forward option contracts [member] | Australian Dollar [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Designated derivative instruments | (6) | (18) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Interest rate swaps [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 3 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | United Arab Emirates, Dirhams [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | [2] | |||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | Switzerland, Francs [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (1) | (6) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | Norway, Krone | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (1) | 0 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | Sweden, Kronor | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 2 | (15) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | Japan, Yen [member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (18) | 0 | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | Denmark, Kroner | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | (2) | (12) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | RMB [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | 0 | (2) | ||||||||||||||||||||||||||||||||||||||||||||
At fair value [member] | Buy l forward contract [member] | CNH [Member] | ||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of derivative contract outstanding [line items] | ||||||||||||||||||||||||||||||||||||||||||||||
Non-designated derivative instruments | [2] | ₨ 0 | ||||||||||||||||||||||||||||||||||||||||||||
|
Financial Instruments - Summary of Aggregate Contracted Principal Amounts of Company's Derivative Contracts Outstanding (Parenthetical) (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
USD ($)
|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2021
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|---|
At fair value [member] | ||||
Disclosure of derivative contract outstanding [line items] | ||||
Non-designated derivative instruments | ₨ | ₨ 2,405 | ₨ 3,010 | ||
At fair value [member] | Philippines, Pesos | Sell: Forward contracts [member] | ||||
Disclosure of derivative contract outstanding [line items] | ||||
Non-designated derivative instruments | $ 86 | $ 244 | ||
At cost [member] | Sell: Forward contracts [member] | ||||
Disclosure of derivative contract outstanding [line items] | ||||
Non-designated derivative instruments | $ 1,452 | $ 1,638 |
Financial Instruments - Summary of Activity in Cash Flow Hedging Reserve within Equity Related to all Derivative Instruments Classified as Cash Flow Hedges (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|||
Disclosure of detailed information about hedges [abstract] | ||||
Balance as at the beginning of the year | ₨ 2,182 | ₨ (2,876) | ||
Changes in fair value of effective portion of derivatives | 3,943 | 4,753 | ||
Net gain/(loss) reclassified to consolidated statement of income on occurrence of hedged transactions | [1] | (4,182) | 305 | |
Gain/(loss) on cash flow hedging derivatives, net | (239) | 5,058 | ||
Balance as at the end of the year | 1,943 | 2,182 | ||
Deferred tax thereon | (466) | (452) | ||
Balance as at the end of the year, net of deferred tax | ₨ 1,477 | ₨ 1,730 | ||
|
Financial Instruments - Summary of Activity in Cash Flow Hedging Reserve within Equity Related to all Derivative Instruments Classified as Cash Flow Hedges (Detail) (Parenthetical) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of detailed information about hedges [abstract] | ||
Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged transactions under revenues | ₨ (4,979) | ₨ 58 |
Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged transactions under cost of revenues | ₨ 797 | ₨ 247 |
Financial Instruments - Additional Information (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of detailed information about financial instruments [line items] | ||
Cash flow hedging reserve description | The related hedge transactions for balance in cash flow hedging reserves as at March 31, 2022 are expected to occur and be reclassified to the consolidated statement of income over a period of one year. | |
Description of concentration of risk | No single customer accounted for more than 10% of the accounts receivable as at March 31, 2021 and 2022, or revenues for the year ended March 31, 2020, 2021 and 2022. | |
Cumulative gain in OCI on sale of investments | ₨ 2,848 | ₨ 884 |
Investments sold during the year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Investments sold during the year | 1,256 | 7,573 |
Interest rate risk [member] | Floating Interest Rate [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Annual interest expense | 951 | |
Currency risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Decrease/increase in the fair value of foreign currency dollar denominated derivative instruments | ₨ 1,210 | ₨ 1,525 |
Increase/decrease in respective foreign currencies compared to functional currency | 1.00% | 1.00% |
Increase in spot exchange rate of the Indian rupee with the U.S. dollar | ₨ 1 | |
Decrease in spot exchange rate of the Indian rupee with the U.S. dollar | 1 | |
Currency risk [member] | Indian Rupee [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Increase in the fair value of foreign currency dollar denominated derivative instruments | 3,165 | |
Decrease in the fair value of foreign currency dollar denominated derivative instruments | 3,159 | |
Increase in the fair value of foreign currency dollar denominated derivative instruments in statement of income | 1,366 | |
Decrease in the fair value of foreign currency dollar denominated derivative instruments in statement of income | 1,366 | |
Increase in the fair value of foreign currency dollar denominated derivative instruments in other comprehensive income | 1,799 | |
Decrease in the fair value of foreign currency dollar denominated derivative instruments in other comprehensive income | ₨ 1,793 |
Financial Instruments - Summary of Foreign Currency Risk from Non-derivative Financial Instruments (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
||
---|---|---|---|---|---|---|
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | ₨ 119,984 | ₨ 98,656 | ||||
Cash and cash equivalents | 103,836 | $ 1,369 | 169,793 | ₨ 144,499 | ||
Other assets | 48,998 | 13,333 | ||||
Lease liabilities | (24,233) | (21,182) | ||||
Currency risk [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | 64,658 | 61,582 | ||||
Unbilled receivables | 34,819 | 14,583 | ||||
Contract assets | 13,943 | 10,463 | ||||
Cash and cash equivalents | 22,499 | 20,644 | ||||
Other assets | 51,357 | 90,681 | ||||
Lease liabilities | (9,912) | (9,926) | ||||
Trade payables, accrued expenses and other liabilities | (56,359) | (35,513) | ||||
Net assets/ (liabilities) | 121,005 | 152,514 | ||||
U.S.Dollar [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | 34,969 | 33,421 | ||||
Unbilled receivables | 22,003 | 9,255 | ||||
Contract assets | 4,239 | 5,111 | ||||
Cash and cash equivalents | 13,603 | 11,838 | ||||
Other assets | 44,559 | 73,212 | ||||
Lease liabilities | (3,813) | (3,800) | ||||
Trade payables, accrued expenses and other liabilities | (28,907) | (23,187) | ||||
Net assets/ (liabilities) | 86,653 | 105,850 | ||||
EURO [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | 9,429 | 9,094 | ||||
Unbilled receivables | 3,928 | 1,681 | ||||
Contract assets | 3,417 | 1,121 | ||||
Cash and cash equivalents | 2,808 | 1,385 | ||||
Other assets | 3,980 | 3,981 | ||||
Lease liabilities | (3,449) | (2,684) | ||||
Trade payables, accrued expenses and other liabilities | (9,087) | (3,569) | ||||
Net assets/ (liabilities) | 11,026 | 11,009 | ||||
Great British Pound [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | 10,016 | 9,334 | ||||
Unbilled receivables | 3,522 | 1,740 | ||||
Contract assets | 3,968 | 2,755 | ||||
Cash and cash equivalents | 966 | 2,052 | ||||
Other assets | 354 | 9,116 | ||||
Lease liabilities | (958) | (1,575) | ||||
Trade payables, accrued expenses and other liabilities | (9,784) | (4,370) | ||||
Net assets/ (liabilities) | 8,084 | 19,052 | ||||
Australian Dollar [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | 4,455 | 4,101 | ||||
Unbilled receivables | 2,159 | 803 | ||||
Contract assets | 1,194 | 838 | ||||
Cash and cash equivalents | 537 | 765 | ||||
Other assets | 519 | 2 | ||||
Lease liabilities | (189) | (202) | ||||
Trade payables, accrued expenses and other liabilities | (1,725) | (1,415) | ||||
Net assets/ (liabilities) | 6,950 | 4,892 | ||||
Canadian Dollar [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | 1,711 | 1,436 | ||||
Unbilled receivables | 872 | 283 | ||||
Contract assets | 168 | 102 | ||||
Cash and cash equivalents | 1,936 | 1,876 | ||||
Other assets | 626 | 891 | ||||
Lease liabilities | (83) | (117) | ||||
Trade payables, accrued expenses and other liabilities | (663) | (350) | ||||
Net assets/ (liabilities) | 4,567 | 4,121 | ||||
Other currencies [member] | ||||||
Disclosure of foreign currency exchange risk on financial instruments [line items] | ||||||
Trade receivables | [1] | 4,078 | 4,196 | |||
Unbilled receivables | [1] | 2,335 | 821 | |||
Contract assets | [1] | 957 | 536 | |||
Cash and cash equivalents | [1] | 2,649 | 2,728 | |||
Other assets | [1] | 1,319 | 3,479 | |||
Lease liabilities | [1] | (1,420) | (1,548) | |||
Trade payables, accrued expenses and other liabilities | [1] | (6,193) | (2,622) | |||
Net assets/ (liabilities) | [1] | ₨ 3,725 | ₨ 7,590 | |||
|
Financial Instruments - Summary of Remaining Contractual Maturities of Significant Financial Liabilities at Reporting Date (Detail) - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of maturity analysis for significant financial liabilities [line items] | ||
Loans, borrowings and bank overdrafts | ₨ 151,696 | ₨ 83,332 |
Lease liabilities | 24,233 | 21,182 |
Trade payables and accrued expenses | 99,034 | 76,512 |
Derivative liabilities | 633 | 1,070 |
Other liabilities | 36,071 | 3,761 |
Loans, borrowings and bank overdrafts, undiscounted cash flows | 157,572 | 85,216 |
Lease Liabilities Undiscounted Cash Flows | 26,076 | 22,823 |
Trade payables and accrued expenses, undiscounted cash flows | 99,034 | 76,512 |
Derivative liabilities, undiscounted cash flows | 633 | 1,070 |
Other liabilities, undiscounted cash flows | 36,179 | 3,880 |
Not later than one year [member] | ||
Disclosure of maturity analysis for significant financial liabilities [line items] | ||
Loans, borrowings and bank overdrafts, undiscounted cash flows | 97,693 | 77,609 |
Lease Liabilities Undiscounted Cash Flows | 9,872 | 8,398 |
Trade payables and accrued expenses, undiscounted cash flows | 99,034 | 76,512 |
Derivative liabilities, undiscounted cash flows | 585 | 1,070 |
Other liabilities, undiscounted cash flows | 33,126 | 1,473 |
1-2 years [member] | ||
Disclosure of maturity analysis for significant financial liabilities [line items] | ||
Loans, borrowings and bank overdrafts, undiscounted cash flows | 912 | 166 |
Lease Liabilities Undiscounted Cash Flows | 6,947 | 6,317 |
Trade payables and accrued expenses, undiscounted cash flows | 0 | |
Derivative liabilities, undiscounted cash flows | 10 | 0 |
Other liabilities, undiscounted cash flows | 2,833 | 1,330 |
2-4 years [member] | ||
Disclosure of maturity analysis for significant financial liabilities [line items] | ||
Loans, borrowings and bank overdrafts, undiscounted cash flows | 1,706 | 7,441 |
Lease Liabilities Undiscounted Cash Flows | 6,913 | 6,017 |
Trade payables and accrued expenses, undiscounted cash flows | 0 | |
Derivative liabilities, undiscounted cash flows | 38 | 0 |
Other liabilities, undiscounted cash flows | 220 | 1,077 |
Beyond 4 years [member] | ||
Disclosure of maturity analysis for significant financial liabilities [line items] | ||
Loans, borrowings and bank overdrafts, undiscounted cash flows | 57,261 | |
Lease Liabilities Undiscounted Cash Flows | 2,344 | ₨ 2,091 |
Trade payables and accrued expenses, undiscounted cash flows | 0 | |
Derivative liabilities, undiscounted cash flows | 0 | |
Other liabilities, undiscounted cash flows | ₨ 0 |
Financial Instruments - Summary of Balanced View of Liquidity and Financial Indebtedness (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
---|---|---|---|---|
Disclosure of maturity analysis for financial assets held for managing liquidity risk [abstract] | ||||
Cash and cash equivalents | ₨ 103,836 | $ 1,369 | ₨ 169,793 | ₨ 144,499 |
Investments—Current | 241,655 | 175,707 | ||
Loans, borrowings and bank overdrafts | (151,696) | (83,332) | ||
Net cash position | ₨ 193,795 | ₨ 262,168 |
Foreign currency translation reserve and Other reserves - Summary of Movement in Foreign Currency Translation Reserve Attributable to Equity Holders (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of foreign currency translation reserves [line items] | ||||
Balance at the beginning of the year | ₨ 554,593 | ₨ 559,333 | ₨ 570,753 | |
Translation difference related to foreign operations, net | 4,121 | $ 54 | (656) | 8,447 |
Reclassification of foreign currency translation differences on sale of investment in associates and liquidation of subsidiaries to statement of income | (158) | (2) | 0 | 0 |
Balance at the end of the year | 658,673 | 8,682 | 554,593 | 559,333 |
Foreign currency translation reserve [member] | ||||
Disclosure of foreign currency translation reserves [line items] | ||||
Balance at the beginning of the year | 22,936 | 23,539 | 15,250 | |
Translation difference related to foreign operations, net | 4,072 | (603) | ||
Reclassification of foreign currency translation differences on sale of investment in associates and liquidation of subsidiaries to statement of income | (158) | |||
Balance at the end of the year | ₨ 26,850 | $ 354 | ₨ 22,936 | ₨ 23,539 |
Foreign currency translation reserve and Other reserves - Summary Of Movement In Other Reserve (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of reserves within equity [line items] | ||||
Beginning balance | ₨ 30,506 | |||
Other comprehensive income | 11,600 | $ 153 | ₨ 6,679 | ₨ 4,613 |
Ending balance | 42,057 | $ 554 | 30,506 | |
Remeasurements of the defined benefit plans | ||||
Disclosure of reserves within equity [line items] | ||||
Beginning balance | (897) | (1,120) | (70) | |
Other comprehensive income | 399 | 223 | (1,050) | |
Ending balance | (498) | (897) | (1,120) | |
Investment in Debt instruments measured at fair value through OCI | ||||
Disclosure of reserves within equity [line items] | ||||
Beginning balance | 4,237 | 2,386 | 1,164 | |
Other comprehensive income | (1,219) | 1,851 | 1,222 | |
Ending balance | 3,018 | 4,237 | 2,386 | |
Investment in Equity instruments measured at fair value through OCI | ||||
Disclosure of reserves within equity [line items] | ||||
Beginning balance | 1,378 | 162 | (562) | |
Other comprehensive income | 8,710 | 1,216 | 724 | |
Ending balance | 10,088 | 1,378 | 162 | |
Capital Redemption Reserve [member] | ||||
Disclosure of reserves within equity [line items] | ||||
Beginning balance | 1,122 | 647 | 1 | |
Buyback of equity shares | 475 | 646 | ||
Ending balance | ₨ 1,122 | ₨ 1,122 | ₨ 647 |
Income Taxes - Summary of Allocation of Income Tax Expense to Comprehensive Income (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Major components of tax expense (income) [abstract] | ||||
Income tax expense as per the consolidated statement of income | ₨ 28,946 | $ 382 | ₨ 30,345 | ₨ 24,799 |
Income tax included in other comprehensive income on: | ||||
Gains/(losses) on investment securities | 242 | 226 | (230) | |
Gains/(losses) on cash flow hedging derivatives | 14 | 1,013 | (1,165) | |
Remeasurements of the defined benefit plans | 3 | 111 | (196) | |
Total income taxes | ₨ 29,205 | ₨ 31,695 | ₨ 23,208 |
Income Taxes - Summary of Components of Income Tax Expense (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Current taxes | ||||
Domestic | ₨ 29,862 | ₨ 19,773 | ₨ 18,437 | |
Foreign | 2,553 | 6,292 | 5,887 | |
Current taxes | 32,415 | 26,065 | 24,324 | |
Deferred taxes | ||||
Domestic | (635) | 3,982 | 1,624 | |
Foreign | (2,834) | 298 | (1,149) | |
Deferred taxes | (3,469) | 4,280 | 475 | |
Income tax expense | ₨ 28,946 | $ 382 | ₨ 30,345 | ₨ 24,799 |
Income Taxes - Additional Information (Detail) - INR (₨) ₨ / shares in Units, ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of income tax expense [line items] | |||
Deferred tax asset of unused tax losses not recognized | ₨ 8,017 | ₨ 8,676 | |
Tax loss carry-forwards | 32,117 | 31,993 | |
Tax loss carry-forwards not currently subject to expiration dates | 29,993 | 17,691 | |
Tax loss carry-forwards expires in various years | ₨ 2,124 | 14,302 | |
Tax loss carry-forwards expiration period | 2038 | ||
Deferred tax liabilities on cumulative earnings of subsidiaries | ₨ 94,029 | 59,793 | |
Decrease of current tax expense due to tax holidays | ₨ 16,483 | ₨ 11,458 | ₨ 11,963 |
Tax incentives per share | ₨ 3.02 | ₨ 2.03 | ₨ 2.05 |
Branch profit tax percentage | 15.00% | ||
Expiry of tax holiday period | 2034-35 | ||
Effective minimum alternative tax rate percentage | 17.47% | ||
Term over which minimum alternative tax is eligible to be carried forward | 15 years | ||
Unused tax losses [member] | |||
Disclosure of income tax expense [line items] | |||
Recognized deferred tax assets of loss carry forward | ₨ 2,144 | ₨ 1,637 |
Income Taxes - Summary of Reconciliation of Income Tax Expense (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | ||||
Profit before tax | ₨ 151,275 | $ 1,994 | ₨ 139,007 | ₨ 122,512 |
Enacted income tax rate in India | 34.94% | 34.94% | 34.94% | 34.94% |
Computed expected tax expense | ₨ 52,855 | ₨ 48,569 | ₨ 42,806 | |
Income exempt from tax | (17,503) | (12,697) | (12,930) | |
Basis differences that will reverse during a tax holiday period | 1,348 | (2,268) | 480 | |
Income taxed at higher/ (lower) rates | (5,649) | (2,381) | (3,122) | |
Taxes related to prior years | (5,499) | (3,861) | (116) | |
Changes in unrecognized deferred tax assets | 669 | 1,096 | (3,898) | |
Expenses disallowed for tax purpose | 2,898 | 1,879 | 1,785 | |
Others, net | (173) | 8 | (206) | |
Income tax expense | ₨ 28,946 | $ 382 | ₨ 30,345 | ₨ 24,799 |
Effective income tax rate | 19.13% | 19.13% | 21.83% | 20.24% |
Income Taxes - Summary of Components of Deferred Tax Assets and Liabilities (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
||
---|---|---|---|---|---|
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |||||
Carry forward losses | [1] | ₨ 2,144 | ₨ 1,637 | ||
Trade payables, accrued expenses and other liabilities | 6,103 | 5,115 | |||
Allowances for lifetime expected credit loss | 2,987 | 3,208 | |||
Contract asset | 0 | 91 | |||
Others | 53 | 90 | |||
Deferred tax assets, Gross | 11,287 | 10,141 | |||
Property, plant and equipment | (1,058) | (1,268) | |||
Amortizable goodwill | (3,285) | (2,065) | |||
Intangible assets | (9,645) | (1,249) | |||
Interest income and fair value movement of investments | (1,067) | (1,582) | |||
Cash flow hedges | (466) | (452) | |||
Contract liabilities | (60) | 0 | |||
Special Economic Zone Re-investment Reserve | (5,549) | (6,494) | |||
Deferred tax liability, Gross | (21,130) | (13,110) | |||
Net deferred tax assets/(liabilities) | (9,843) | (2,969) | |||
Deferred tax assets | 2,298 | $ 30 | 1,664 | ||
Deferred tax liabilities | ₨ (12,141) | $ (160) | ₨ (4,633) | ||
|
Income Taxes - Movement in Deferred Tax Assets and Liabilities (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | ₨ (2,969) | ₨ 3,180 | ₨ 2,187 |
Credit/(charge) in the consolidated statement of income | 3,469 | (4,280) | (475) |
Credit/(charge) in other comprehensive income | (514) | (1,313) | 1,645 |
On account of business combination | (177) | ||
On account of business combinations and others | (9,829) | (556) | |
Ending balance | (9,843) | (2,969) | 3,180 |
Carry forward losses [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 1,637 | 2,044 | 3,149 |
Credit/(charge) in the consolidated statement of income | 1,083 | (230) | (1,287) |
Credit/(charge) in other comprehensive income | 101 | (22) | 182 |
On account of business combinations and others | (677) | (155) | |
Ending balance | 2,144 | 1,637 | 2,044 |
Trade payables, accrued expenses and other liabilities [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 5,115 | 4,994 | 3,713 |
Credit/(charge) in the consolidated statement of income | 363 | 279 | 1,033 |
Credit/(charge) in other comprehensive income | 41 | (171) | 248 |
On account of business combinations and others | 584 | 13 | |
Ending balance | 6,103 | 5,115 | 4,994 |
Allowances for lifetime expected credit loss [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 3,208 | 3,921 | 4,521 |
Credit/(charge) in the consolidated statement of income | (248) | (734) | (591) |
Credit/(charge) in other comprehensive income | 27 | 21 | (9) |
Ending balance | 2,987 | 3,208 | 3,921 |
Minimum alternate tax [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 3,425 | ||
Credit/(charge) in the consolidated statement of income | (3,425) | 3,425 | |
Ending balance | 3,425 | ||
Property, plant and equipment [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (1,268) | (686) | (1,840) |
Credit/(charge) in the consolidated statement of income | 289 | (649) | 1,150 |
Credit/(charge) in other comprehensive income | (30) | 66 | 4 |
On account of business combinations and others | (49) | 1 | |
Ending balance | (1,058) | (1,268) | (686) |
Amortizable goodwill [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (2,065) | (2,166) | (1,899) |
Credit/(charge) in the consolidated statement of income | (1,129) | 34 | (92) |
Credit/(charge) in other comprehensive income | (91) | 67 | (175) |
Ending balance | (3,285) | (2,065) | (2,166) |
Intangible assets [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (1,249) | (1,541) | (2,295) |
Credit/(charge) in the consolidated statement of income | 1,910 | 759 | 1,021 |
Credit/(charge) in other comprehensive income | (212) | (55) | (90) |
On account of business combination | (177) | ||
On account of business combinations and others | (10,094) | (412) | |
Ending balance | (9,645) | (1,249) | (1,541) |
Interest income and fair value movement of investments [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (1,582) | (626) | (1,455) |
Credit/(charge) in the consolidated statement of income | 424 | (730) | 599 |
Credit/(charge) in other comprehensive income | (245) | (226) | 230 |
On account of business combinations and others | 336 | ||
Ending balance | (1,067) | (1,582) | (626) |
Cash flow hedges [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (452) | 561 | (604) |
Credit/(charge) in other comprehensive income | (14) | (1,013) | 1,165 |
Ending balance | (466) | (452) | 561 |
Contract asset / (Contract liabilities) [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 91 | (11) | (289) |
Credit/(charge) in the consolidated statement of income | (205) | 101 | 285 |
Credit/(charge) in other comprehensive income | 7 | 4 | (7) |
On account of business combinations and others | 47 | (3) | |
Ending balance | (60) | 91 | (11) |
Special Economic Zone Re-investment Reserve | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | (6,494) | (6,614) | (1,132) |
Credit/(charge) in the consolidated statement of income | 945 | 120 | (5,482) |
Ending balance | (5,549) | (6,494) | (6,614) |
Others [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Beginning balance | 90 | (121) | 318 |
Credit/(charge) in the consolidated statement of income | 37 | 195 | (536) |
Credit/(charge) in other comprehensive income | (98) | 16 | 97 |
On account of business combinations and others | 24 | ||
Ending balance | ₨ 53 | ₨ 90 | ₨ (121) |
Dividends and Buyback of equity shares - Additional Information (Detail) ₨ / shares in Units, $ / shares in Units, ₨ in Millions, $ in Millions |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Apr. 19, 2022
INR (₨)
|
Mar. 31, 2022
INR (₨)
₨ / shares
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
₨ / shares
shares
|
Mar. 31, 2020
INR (₨)
₨ / shares
shares
|
Mar. 25, 2022
₨ / shares
|
Mar. 25, 2022
$ / shares
|
|
Disclosure of dividends [line items] | |||||||
Cash dividends paid per equity share | ₨ / shares | ₨ 1 | ₨ 1 | ₨ 1 | ||||
Interim dividend | ₨ 1 | ₨ 1 | ₨ 1 | ||||
Par value per share | ₨ / shares | ₨ 2 | ||||||
Number of shares approved for buyback | shares | 237,500,000 | 323,076,923 | |||||
Total cash outflow on buyback of shares | ₨ 116,445 | ₨ 105,000 | |||||
Payments on buyback of shares | 0 | $ 0 | 95,199 | 105,311 | |||
Reduction in share capital related to buyback | 475 | 646 | |||||
Tax on Buyback of Shares | 21,445 | ||||||
Interim dividend payable per share | (per share) | ₨ 5 | $ 0.07 | |||||
Interim dividend payable | 27,337 | 0 | |||||
Payment of interim dividend on ordinary shares | ₨ 27,337 | ||||||
Interim dividend declared as a percentage of par value per share | $ / shares | $ 250 | ||||||
Payment Of Interim Dividend Declared [Member] | |||||||
Disclosure of dividends [line items] | |||||||
Interim dividend payable | ₨ 27,337 | ||||||
Securities premium reserve [member] | |||||||
Disclosure of dividends [line items] | |||||||
Payments on buyback of shares | 1,427 | ||||||
Retained earnings [member] | |||||||
Disclosure of dividends [line items] | |||||||
Payments on buyback of shares | 115,018 | 105,000 | |||||
Capital Redemption Reserve [member] | |||||||
Disclosure of dividends [line items] | |||||||
Payments on buyback of shares | ₨ 475 | ₨ 646 |
Additional Capital Disclosures - Summary of Capital Structure (Detail) ₨ in Millions, $ in Millions |
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
---|---|---|---|
Capital structure [abstract] | |||
Equity attributable to the equity shareholders of the Company | ₨ 658,158 | $ 8,675 | ₨ 553,095 |
As percentage of total capital | 79.00% | 79.00% | 84.00% |
Current loans, borrowings and bank overdrafts | ₨ 95,233 | $ 1,255 | ₨ 75,874 |
Non-current long-term loans and borrowings | 56,463 | $ 744 | 7,458 |
Lease liabilities | 24,233 | 21,182 | |
Total loans, borrowings and bank overdrafts and lease liabilities | ₨ 175,929 | ₨ 104,514 | |
As percentage of total capital | 21.00% | 21.00% | 16.00% |
Total capital | ₨ 834,087 | ₨ 657,609 | |
Percentage of change, Equity attributable to the equity shareholders of the Company | 19.00% | 19.00% | |
Percentage of change, Total loans and borrowings | 68.30% | 68.30% | |
Percentage of change, Total capital (loans and borrowings and equity) | 26.80% | 26.80% |
Additional Capital Disclosures - Additional Information (Detail) |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Capital structure [abstract] | ||
Loans and borrowings as a percentage of total capital | 21.00% | 16.00% |
Revenue - Additional Information (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Text block [abstract] | |||
Revenue recognized from contract liabilities | ₨ 18,880 | ₨ 16,082 | |
Amounts reclassified from contract assets to receivables | 13,944 | 15,101 | |
Transaction price allocated to remaining performance obligations | ₨ 328,191 | ₨ 384,881 | ₨ 360,033 |
Percentage of transaction price allocated to remaining performance obligation as revenues | 59.00% | 59.00% | 62.00% |
Explanation of when entity expects to recognise transaction price allocated to remaining performance obligations as revenue | 62%, 59% and 59% respectively is expected to be recognized as revenues within two years, and the remainder thereafter. | 62%, 59% and 59% respectively is expected to be recognized as revenues within two years, and the remainder thereafter. | 62%, 59% and 59% respectively is expected to be recognized as revenues within two years, and the remainder thereafter. |
Revenue - Schedule of Disaggregation of Revenues (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | ₨ 790,934 | ₨ 619,430 | ₨ 610,232 |
Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 454,555 | 379,287 | 369,330 |
Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 330,206 | 232,480 | 229,220 |
IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 777,466 | 602,855 | 590,600 |
IT services [member] | Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 448,766 | 372,121 | 362,926 |
IT services [member] | Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 328,700 | 230,734 | 227,674 |
IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 232,021 | 164,498 | 156,598 |
IT services [member] | Europe [member] | Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 139,031 | 108,591 | 104,165 |
IT services [member] | Europe [member] | Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 92,990 | 55,907 | 52,433 |
IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 216,843 | 177,387 | 175,318 |
IT services [member] | Americas1 [Member] | Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 121,656 | 98,868 | 96,876 |
IT services [member] | Americas1 [Member] | Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 95,187 | 78,519 | 78,442 |
IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 238,123 | 178,920 | 180,404 |
IT services [member] | Americas2 [Member] | Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 131,975 | 110,143 | 108,665 |
IT services [member] | Americas2 [Member] | Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 106,148 | 68,777 | 71,739 |
IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 90,479 | 82,050 | 78,280 |
IT services [member] | Asia Pacific Middle East Africa [Member] | Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 56,104 | 54,519 | 53,220 |
IT services [member] | Asia Pacific Middle East Africa [Member] | Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 34,375 | 27,531 | 25,060 |
IT Products [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 6,173 | 7,663 | 11,682 |
India State Run Enterprise (ISRE) [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 7,295 | 8,912 | 7,950 |
India State Run Enterprise (ISRE) [member] | Fixed-price and volume based contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 5,789 | 7,166 | 6,404 |
India State Run Enterprise (ISRE) [member] | Time-and-materials contracts [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,506 | 1,746 | 1,546 |
Rendering of Services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 784,761 | 611,767 | 598,550 |
Rendering of Services [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 777,466 | 602,855 | 590,600 |
Rendering of Services [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 232,021 | 164,498 | 156,598 |
Rendering of Services [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 216,843 | 177,387 | 175,318 |
Rendering of Services [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 238,123 | 178,920 | 180,404 |
Rendering of Services [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 90,479 | 82,050 | 78,280 |
Rendering of Services [member] | India State Run Enterprise (ISRE) [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 7,295 | 8,912 | 7,950 |
Sales of Products [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 6,173 | 7,663 | 11,682 |
Sales of Products [member] | IT Products [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 6,173 | 7,663 | 11,682 |
Products [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 6,173 | 7,663 | 11,682 |
Products [member] | IT Products [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 6,173 | 7,663 | 11,682 |
Banking Financial Services and Insurance [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 269,772 | 185,152 | 183,373 |
Banking Financial Services and Insurance [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 93,039 | 56,275 | 53,869 |
Banking Financial Services and Insurance [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 2,609 | 2,609 | 2,151 |
Banking Financial Services and Insurance [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 144,076 | 103,040 | 106,694 |
Banking Financial Services and Insurance [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 30,048 | 23,228 | 20,659 |
Health [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 91,051 | 81,594 | 77,797 |
Health [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 13,975 | 12,390 | 10,090 |
Health [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 73,542 | 64,397 | 63,435 |
Health [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 127 | 18 | 105 |
Health [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 3,407 | 4,789 | 4,167 |
Consumer [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 136,441 | 98,839 | 96,512 |
Consumer [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 31,718 | 17,731 | 16,030 |
Consumer [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 89,824 | 68,258 | 67,980 |
Consumer [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 2,589 | 2,306 | 2,054 |
Consumer [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 12,310 | 10,544 | 10,448 |
Energy, Natural Resources and Utilities [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 94,584 | 78,819 | 75,957 |
Energy, Natural Resources and Utilities [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 38,421 | 31,271 | 29,854 |
Energy, Natural Resources and Utilities [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 712 | 426 | 418 |
Energy, Natural Resources and Utilities [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 36,413 | 27,405 | 26,024 |
Energy, Natural Resources and Utilities [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 19,038 | 19,717 | 19,661 |
Technology [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 93,759 | 78,350 | 75,445 |
Technology [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 18,696 | 16,245 | 18,678 |
Technology [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 40,570 | 35,180 | 32,924 |
Technology [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 27,049 | 21,689 | 20,931 |
Technology [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 7,444 | 5,236 | 2,912 |
Manufacturing [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 53,278 | 48,978 | 47,860 |
Manufacturing [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 23,220 | 22,339 | 20,324 |
Manufacturing [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 199 | 265 | 349 |
Manufacturing [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 26,662 | 23,350 | 23,548 |
Manufacturing [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 3,197 | 3,024 | 3,639 |
Communications [member] | IT services [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 38,581 | 31,123 | 33,656 |
Communications [member] | IT services [member] | Europe [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 12,952 | 8,247 | 7,753 |
Communications [member] | IT services [member] | Americas1 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 9,387 | 6,252 | 8,061 |
Communications [member] | IT services [member] | Americas2 [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 1,207 | 1,112 | 1,048 |
Communications [member] | IT services [member] | Asia Pacific Middle East Africa [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | ₨ 15,035 | ₨ 15,512 | ₨ 16,794 |
Expenses by Nature - Summary of Expenses by Nature (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||||
Expenses by nature [abstract] | |||||||
Employee compensation | ₨ 450,075 | ₨ 332,371 | ₨ 326,571 | ||||
Sub-contracting and technical fees | 108,589 | 83,609 | 90,521 | ||||
Cost of hardware and software | 6,431 | 7,684 | 11,491 | ||||
Travel | 7,320 | 5,258 | 18,169 | ||||
Facility expenses | 25,269 | 20,255 | 19,733 | ||||
Depreciation, amortization and impairment | [1] | 30,911 | 27,656 | 20,862 | |||
Communication | 5,760 | 6,069 | 4,812 | ||||
Legal and professional fees | 7,561 | 5,561 | 4,733 | ||||
Rates, taxes and insurance | 4,548 | 3,475 | 3,004 | ||||
Marketing and brand building | 2,010 | 1,011 | 2,532 | ||||
Lifetime expected credit loss/ (write-back) | (797) | 1,506 | 1,043 | ||||
Miscellaneous expenses | [2] | 9,512 | 4,836 | 5,344 | |||
Total cost of revenues, selling and marketing expenses and general and administrative expenses | ₨ 657,189 | ₨ 499,291 | ₨ 508,815 | ||||
|
Expenses by Nature - Summary of Expenses by Nature (Parenthetical) (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure Of Expense [line items] | |||
Impairment in certain software platforms, capital work-in-progress, property, plant and equipment and intangible assets | ₨ 0 | ₨ 2,418 | ₨ 0 |
Contributions made to Covid - 19 | ₨ 991 |
Other Operating Income/(Loss), Net - Additional Information (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of other operating income [line items] | ||||
Gain on sale | ₨ 2,186 | $ 29 | ₨ (81) | ₨ 1,144 |
Change in fair value of the callable units | 1,233 | (81) | 992 | |
Income tax relating to investment securities included in other comprehensive income | 242 | 226 | (230) | |
Consideration | 1,652 | $ 22 | ₨ 0 | 0 |
Denim group [member] | ||||
Disclosure of other operating income [line items] | ||||
Consideration | 1,652 | |||
Cumulative gain loss on disposal of investments in equity method | 953 | |||
Ensono holdings, llc [member] | ||||
Disclosure of other operating income [line items] | ||||
Cumulative gain loss on disposal of investments in equity instruments designated at fair value through other comprehensive income | 1,252 | |||
Income tax relating to investment securities included in other comprehensive income | 430 | |||
Consideration | ₨ 5,628 | |||
Workday business [member] | ||||
Disclosure of other operating income [line items] | ||||
Gain on sale | ₨ 152 |
Finance Expenses - Summary of Finance Expense (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of finance expense [abstract] | ||||
Interest expense | ₨ 5,325 | ₨ 4,298 | ₨ 5,136 | |
Exchange fluctuation on foreign currency borrowings, net | 790 | 2,192 | ||
Total | ₨ 5,325 | $ 70 | ₨ 5,088 | ₨ 7,328 |
Finance and Other Income and Foreign Exchange Gains/(Losses), Net - Summary of Finance and Other Income and Foreign Exchange Gains/(Losses), Net (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of finance and other income and Foreign exchange gains/(losses), net [abstract] | ||||
Interest income | ₨ 13,114 | ₨ 18,442 | ₨ 21,764 | |
Dividend income | 2 | 4 | 367 | |
Exchange fluctuation gain on foreign currency borrowings | 1,485 | 0 | 0 | |
Net gain from investments classified as FVTPL | 1,270 | 1,478 | 1,275 | |
Net gain from investments classified as FVTOCI | 386 | 988 | 675 | |
Finance and other income | 16,257 | $ 214 | 20,912 | 24,081 |
Foreign exchange gains/(losses), net, on financial instruments measured at FVTPL | 808 | 4,383 | 2,144 | |
Other foreign exchange gains/(losses), net | 3,547 | (1,388) | 1,025 | |
Foreign exchange gains/(losses), net | 4,355 | $ 57 | 2,995 | 3,169 |
Finance and other income and Foreign exchange gains/(losses), net | ₨ 20,612 | ₨ 23,907 | ₨ 27,250 |
Earnings Per Equity Share - Summary of Basic Earnings Per Share (Detail) ₨ / shares in Units, $ / shares in Units, ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
₨ / shares
shares
|
Mar. 31, 2022
USD ($)
$ / shares
shares
|
Mar. 31, 2021
INR (₨)
₨ / shares
shares
|
Mar. 31, 2020
INR (₨)
₨ / shares
shares
|
|
Earnings per share [abstract] | ||||
Profit attributable to equity holders of the Company | ₨ 122,191 | $ 1,610 | ₨ 107,946 | ₨ 97,218 |
Weighted average number of equity shares outstanding | 5,466,705,840 | 5,466,705,840 | 5,649,265,885 | 5,833,384,018 |
Basic earnings per share | (per share) | ₨ 22.35 | $ 0.29 | ₨ 19.11 | ₨ 16.67 |
Earnings Per Equity Share - Summary of Diluted Earnings Per Share (Detail) ₨ / shares in Units, $ / shares in Units, ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
₨ / shares
shares
|
Mar. 31, 2022
USD ($)
$ / shares
shares
|
Mar. 31, 2021
INR (₨)
₨ / shares
shares
|
Mar. 31, 2020
INR (₨)
₨ / shares
shares
|
|
Earnings per share [abstract] | ||||
Profit attributable to equity holders of the Company | ₨ 122,191 | $ 1,610 | ₨ 107,946 | ₨ 97,218 |
Weighted average number of equity shares outstanding | 5,466,705,840 | 5,466,705,840 | 5,649,265,885 | 5,833,384,018 |
Effect of dilutive equivalent share options | 15,377,598 | 15,377,598 | 12,391,937 | 14,439,221 |
Weighted average number of equity shares for diluted earnings per share | 5,482,083,438 | 5,482,083,438 | 5,661,657,822 | 5,847,823,239 |
Diluted earnings per share | (per share) | ₨ 22.29 | $ 0.29 | ₨ 19.07 | ₨ 16.62 |
Employee Stock Incentive Plans - Additional Information (Detail) ₨ / shares in Units, ₨ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
shares
₨ / shares
|
Mar. 31, 2021
INR (₨)
shares
₨ / shares
|
Mar. 31, 2020
INR (₨)
shares
₨ / shares
|
Oct. 10, 2019
Client
|
|||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stock compensation expense recognized | [1] | ₨ 4,164 | ₨ 2,897 | ₨ 1,262 | ||
Cash settled RSUs outstanding | Client | 561 | |||||
Effect of Modification | ₨ 739 | |||||
Employee stock option plans and restricted stock unit option [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Options vesting period description | one to four years | |||||
Weighted-average grant-date fair value of options granted | ₨ / shares | ₨ 603.47 | ₨ 354.78 | ₨ 260.65 | |||
Weighted average share price of options exercised | ₨ / shares | ₨ 604.47 | ₨ 354.45 | ₨ 267.04 | |||
Cash settled RSU financial liabilities | ₨ 20 | ₨ 31 | ||||
Employee stock option plans and restricted stock unit option [member] | Exercisable Units [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Cash settled RSU financial liabilities | ₨ 2 | ₨ 11 | ||||
Treasury shares [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Shares held by Wipro equity reward trust | shares | 14,689,729 | 19,401,215 | 22,746,081 | |||
WSRUP 2007 Plan [member] | Performance based restricted stock units [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number based stock options granted | shares | 1,135,949 | 2,969,860 | 2,461,500 | |||
WARSUP 2004 Plan [member] | Performance based ADS [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number based stock options granted | shares | 2,941,546 | 2,376,980 | 2,524,600 | |||
|
Employee Stock Incentive Plans - Summary of General Terms of Grants Under Stock Option Plans and Restricted Stock Unit Option Plans (Detail) |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
shares
₨ / shares
|
Mar. 31, 2022
USD ($)
shares
$ / shares
|
Mar. 31, 2021
shares
₨ / shares
$ / shares
|
Mar. 31, 2020
shares
|
Mar. 31, 2022
USD ($)
shares
$ / shares
|
|||||
Wipro ADS Restricted Stock Unit Plan (WARSUP 2004 plan) [member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Number of Options reserved under the plan | shares | [1] | 59,797,979 | 59,797,979 | ||||||
Range of Exercise Prices | $ / shares | [1] | $ 0.03 | |||||||
Outstanding at the end of the year | $ / shares | [1] | $ 0.03 | |||||||
Wipro Employee Restricted Stock Unit Plan 2005 (WSRUP 2005 plan) [member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Number of Options reserved under the plan | shares | [1] | 59,797,979 | 59,797,979 | ||||||
Range of Exercise Prices | [1] | ₨ 2 | |||||||
Outstanding at the end of the year | [1] | ₨ 2 | |||||||
Wipro Employee Restricted Stock Unit Plan 2007 (WSRUP 2007 plan) [member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Number of Options reserved under the plan | shares | [1] | 49,831,651 | 49,831,651 | ||||||
Range of Exercise Prices | [1] | ₨ 2 | |||||||
Outstanding at the end of the year | [1] | ₨ 2 | |||||||
Wipro Equity Reward Trust Employee Stock Purchase Plan, 2013 [member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Number of Options reserved under the plan | shares | [2] | 39,546,197 | 39,546,197 | ||||||
Range of Exercise Prices | [2] | ₨ 2 | |||||||
Outstanding at the end of the year | [2] | ₨ 2 | |||||||
Employee stock option plans and restricted stock unit option [member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Numbers, Outstanding at the beginning of the year | shares | 78,199 | 78,199 | 4,721,388 | ||||||
Numbers, Exercised | shares | (46,133) | (46,133) | (845,066) | ||||||
Numbers, Outstanding at the end of the year | shares | 24,600 | 24,600 | 78,199 | 4,721,388 | |||||
Numbers, Exercisable at the end of the year | shares | 2,800 | 23,999 | 2,800 | ||||||
Employee stock option plans and restricted stock unit option [member] | Exercise Price Rs. 2 [Member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Outstanding at the beginning of the year | ₨ 2 | ||||||||
Range of Exercise Prices | 2 | ||||||||
Granted | 2 | ||||||||
Adjustment of Performance based stock options on completion of performance measurement period | ₨ 2 | ||||||||
Exercised | ₨ | ₨ 2 | ||||||||
Forfeited and expired | ₨ 2 | ||||||||
Outstanding at the end of the year | ₨ 2 | ₨ 2 | |||||||
Exercisable at the end of the year | ₨ | ₨ 2 | ||||||||
Numbers, Outstanding at the beginning of the year | 15,831,948 | 15,831,948 | 15,594,190 | 17,607,463 | |||||
Numbers, Granted | 2,500,481 | 2,500,481 | 6,275,290 | 5,662,500 | |||||
Adjustment of Performance based stock options on completion of performance measurement period | shares | 608,435 | 608,435 | (1,291,500) | (2,182,667) | |||||
Numbers, Exercised | (4,712,311) | (4,712,311) | (3,356,199) | (4,610,572) | |||||
Numbers, Forfeited and expired | (1,985,881) | (1,985,881) | (1,389,833) | (882,534) | |||||
Numbers, Outstanding at the end of the year | 12,242,672 | 12,242,672 | 15,831,948 | 15,594,190 | |||||
Numbers, Exercisable at the end of the year | 2,478,568 | 2,679,538 | 1,502,957 | 2,478,568 | |||||
Weighted Average Exercise Price Of Share Options, Modification | ₨ 2 | ||||||||
Number Of Share Options, Modification | 0 | 0 | |||||||
Employee stock option plans and restricted stock unit option [member] | Exercise Price Range 0.03 [member] | |||||||||
Disclosure of range of exercise prices of outstanding share options [line items] | |||||||||
Outstanding at the beginning of the year | $ / shares | $ 0.03 | ||||||||
Range of Exercise Prices | $ / shares | ₨ 0.03 | $ 0.03 | |||||||
Granted | $ / shares | 0.03 | ||||||||
Adjustment of Performance based stock options on completion of performance measurement period | $ / shares | $ 0.03 | ||||||||
Exercised | $ | $ 0.03 | ||||||||
Forfeited and expired | $ / shares | $ 0.03 | ||||||||
Outstanding at the end of the year | $ / shares | $ 0.03 | ||||||||
Exercisable at the end of the year | $ | $ 0.03 | ||||||||
Numbers, Outstanding at the beginning of the year | 10,822,476 | 10,822,476 | 7,854,540 | 14,446,790 | |||||
Numbers, Granted | 10,470,026 | 10,470,026 | 5,033,648 | 5,341,000 | |||||
Adjustment of Performance based stock options on completion of performance measurement period | shares | 570,076 | 570,076 | (1,021,560) | (2,273,164) | |||||
Numbers, Exercised | (2,930,735) | (2,930,735) | (3,269,832) | (2,496,125) | |||||
Numbers, Forfeited and expired | (1,419,941) | (1,419,941) | (1,227,335) | (1,481,995) | |||||
Numbers, Outstanding at the end of the year | 17,511,902 | 17,511,902 | 10,822,476 | 7,854,540 | |||||
Numbers, Exercisable at the end of the year | 1,072,118 | 465,603 | 1,212,560 | 1,072,118 | |||||
Weighted Average Exercise Price Of Share Options, Modification | $ / shares | $ 0.03 | ||||||||
Number Of Share Options, Modification | 0 | 0 | 3,453,015 | (5,681,966) | |||||
|
Employee Stock Incentive Plans - Schedule of general terms of grants under stock option plans and restricted stock unit option plans (Detail) - Employee stock option plans and restricted stock unit option [member] |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022
shares
₨ / shares
|
Mar. 31, 2021
shares
₨ / shares
|
Mar. 31, 2020
shares
₨ / shares
|
Mar. 31, 2022
shares
$ / shares
|
Mar. 31, 2021
shares
$ / shares
|
Mar. 31, 2020
shares
$ / shares
|
|
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of outstanding share options | shares | 24,600 | 78,199 | 4,721,388 | 24,600 | 78,199 | 4,721,388 |
Exercise Price Rs. 2 [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of outstanding share options | 12,242,672 | 15,831,948 | 15,594,190 | 12,242,672 | 15,831,948 | 15,594,190 |
Weighted average remaining life (Months) | 13 months | 18 months | 23 months | |||
Weighted average exercise price | ₨ / shares | ₨ 2 | ₨ 2 | ₨ 2 | |||
Exercise Price US $ 0.03 [Member] | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of outstanding share options | 17,511,902 | 10,822,476 | 7,854,540 | 17,511,902 | 10,822,476 | 7,854,540 |
Weighted average remaining life (Months) | 20 months | 19 months | 23 months | |||
Weighted average exercise price | $ / shares | $ 0.03 | $ 0.03 | $ 0.03 |
Employee stock incentive plans - Disclosure of Activities in Cash Settled Stock Option Plans and Restricted Stock Unit Option Plan Explanatory (Detail) - Employee Stock Option Plans and Restricted Stock Unit Option[member] |
12 Months Ended | |
---|---|---|
Mar. 31, 2022
shares
|
Mar. 31, 2021
shares
|
|
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||
Numbers, Outstanding at the beginning of the year | 78,199 | 4,721,388 |
Modification | 0 | (3,453,015) |
Numbers, Exercised | (46,133) | (845,066) |
Forfeited and lapsed | (7,466) | (345,108) |
Numbers, Outstanding at the end of the year | 24,600 | 78,199 |
Exercisable at the end of the year | 2,800 | 23,999 |
Employee Benefits - Summary of Employee Costs (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||
Disclosure of defined benefit plans [abstract] | |||||
Salaries and bonus | ₨ 429,837 | ₨ 318,043 | ₨ 315,036 | ||
Employee benefits plans | 16,074 | 11,431 | 10,273 | ||
Share based compensation | [1] | 4,164 | 2,897 | 1,262 | |
Total employee cost | ₨ 450,075 | ₨ 332,371 | ₨ 326,571 | ||
|
Employee Benefits - Summary of Employee Benefit Costs (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure Of employee benefits cost [Line Items] | |||
Employee benefit cost | ₨ 450,075 | ₨ 332,371 | ₨ 326,571 |
Cost of revenues [member] | |||
Disclosure Of employee benefits cost [Line Items] | |||
Employee benefit cost | 382,446 | 282,983 | 279,356 |
Selling and marketing expenses [member] | |||
Disclosure Of employee benefits cost [Line Items] | |||
Employee benefit cost | 41,339 | 31,236 | 30,763 |
General and administrative expenses [member] | |||
Disclosure Of employee benefits cost [Line Items] | |||
Employee benefit cost | ₨ 26,290 | ₨ 18,152 | ₨ 16,452 |
Employee Benefits - Summary of Defined Benefit Plan Actuarial (Gains)/ Losses Recognized in Other Comprehensive Income (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Re-measurement of net defined benefit liability/(asset) | |||
Return on plan assets excluding interest income—Loss/(Gain) | ₨ (30) | ₨ (578) | ₨ 76 |
Actuarial loss/ (gain) arising from financial assumptions | (625) | 423 | 749 |
Actuarial loss/ (gain) arising from demographic assumptions | (667) | 155 | 227 |
Actuarial loss/ (gain) arising from experience adjustments | 920 | (334) | 194 |
Defined benefit plan actuarial (gains)/ losses | ₨ (402) | ₨ (334) | ₨ 1,246 |
Employee Benefits - Summary of Change in Plan Assets (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of net defined benefit liability (asset) [abstract] | |||
Current service cost | ₨ 2,674 | ₨ 2,085 | ₨ 1,782 |
Net interest on net defined benefit liability/(asset) | 64 | 131 | 63 |
Net charge to statement of income | 2,738 | 2,216 | 1,845 |
Actual return on plan assets | ₨ 715 | ₨ 1,127 | ₨ 513 |
Employee Benefits - Summary of Change in Present Value of Defined Obligation (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of net defined benefit liability (asset) [line items] | |||
Current service cost | ₨ 2,674 | ₨ 2,085 | ₨ 1,782 |
Interest on obligation | 64 | 131 | 63 |
Remeasurement loss/(gains) | |||
Actuarial loss/(gain) arising from financial assumptions | 625 | (423) | (749) |
Actuarial loss/(gain) arising from demographic assumptions | 667 | (155) | (227) |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Value at the beginning of the year | 15,475 | 13,465 | |
Acquisitions | 3,123 | 7 | |
Current service cost | 2,674 | 2,085 | |
Interest on obligation | 749 | 681 | |
Benefits paid | (2,731) | (1,069) | |
Remeasurement loss/(gains) | |||
Actuarial loss/(gain) arising from financial assumptions | (625) | 423 | |
Actuarial loss/(gain) arising from demographic assumptions | (667) | 155 | |
Actuarial loss/(gain) arising from experience adjustments | 920 | (334) | |
Translation adjustment | (25) | 62 | |
Value at the end of the year | ₨ 18,893 | ₨ 15,475 | ₨ 13,465 |
Employee Benefits - Summary of Defined Benefit Plans (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Remeasurement (loss)/gains | |||
Return on plan assets excluding interest income—(loss)/gain | ₨ 715 | ₨ 1,127 | ₨ 513 |
Present value of unfunded obligation | (1,192) | (1,838) | |
Recognized asset/(liability) | (1,192) | (1,838) | |
Plan assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Value at the beginning of the year | 13,637 | 10,535 | |
Acquisitions | 1,636 | 0 | |
Expected return on plan assets | 685 | 550 | |
Employer contributions | 2,213 | 1,993 | |
Benefits paid | (452) | (76) | |
Remeasurement (loss)/gains | |||
Return on plan assets excluding interest income—(loss)/gain | 30 | 578 | |
Translation adjustment | (48) | 57 | |
Value at the end of the year | ₨ 17,701 | ₨ 13,637 | ₨ 10,535 |
Employee Benefits - Summary of Principal Assumptions Used for Purpose of Actuarial Valuation of Defined Benefit Plans (Detail) |
12 Months Ended | |
---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Disclosure of actuarial assumptions [line items] | ||
Discount rate | 4.54% | 4.69% |
Expected return on plan assets | 4.54% | 4.69% |
Expected rate of salary increase | 6.12% | 6.57% |
Duration of defined benefit obligations | 8 years | 9 years |
Provident fund [member] | ||
Disclosure of actuarial assumptions [line items] | ||
Discount rate | 5.85% | 5.80% |
Average remaining tenure of investment portfolio | 6 years | 6 years |
Guaranteed rate of return | 8.10% | 8.50% |
Employee Benefits - Summary of Expected Future Contribution and Estimated Future Benefit Payments (Detail) ₨ in Millions |
12 Months Ended |
---|---|
Mar. 31, 2022
INR (₨)
| |
Disclosure of defined benefit plans [abstract] | |
Expected contribution to the fund during the year ending March 31, 2023 | ₨ 1,454 |
Estimated benefit payments from the fund for the year ending March 31, 2023 | 2,935 |
Estimated benefit payments from the fund for the year ending March 31, 2024 | 2,052 |
Estimated benefit payments from the fund for the year ending March 31, 2025 | 1,970 |
Estimated benefit payments from the fund for the year ending March 31, 2026 | 1,907 |
Expected benefit payments from the fund for the year ending March 31, 2027 | 1,920 |
Thereafter | 15,001 |
Total | ₨ 25,785 |
Employee Benefits - Additional Information (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||
---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|
Disclosure of defined benefit plans [line items] | |||
Total expense of Employee benefits plans | ₨ 16,074 | ₨ 11,431 | ₨ 10,273 |
Provident Fund Obligation [member] | |||
Disclosure of defined benefit plans [line items] | |||
Total expense of provident fund | 3,578 | 2,833 | 2,282 |
Defined contribution plans [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Total expense of Employee benefits plans | 9,822 | 6,513 | ₨ 6,209 |
Cash Settled RSU [Member] | |||
Disclosure of defined benefit plans [line items] | |||
Cash settled | ₨ 54 | 587 | |
Actuarial assumption of discount rates [member] | |||
Disclosure of defined benefit plans [line items] | |||
Percentage of reasonably possible increase in actuarial assumption | 1.00% | ||
Increase/ (decrease) in gratuity benefit obligation due to reasonably possible increase in actuarial assumption | ₨ (1,937) | (1,508) | |
Increase/ (decrease) in gratuity benefit obligation due to reasonably possible decrease in actuarial assumption | ₨ 1,000 | 1,440 | |
Actuarial assumption of expected rates of salary increases [member] | |||
Disclosure of defined benefit plans [line items] | |||
Percentage of reasonably possible decrease in actuarial assumption | 1.00% | ||
Increase/ (decrease) in gratuity benefit obligation due to reasonably possible increase in actuarial assumption | ₨ 634 | 864 | |
Increase/ (decrease) in gratuity benefit obligation due to reasonably possible decrease in actuarial assumption | ₨ (635) | ₨ (798) |
Employee Benefits - Summary of Fund and Plan Assets of Provident Fund (Detail) - Provident fund [member] - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of defined benefit plans [line items] | ||
Fair value of plan assets | ₨ 76,573 | ₨ 71,196 |
Present value of defined benefit obligation | (76,573) | (71,196) |
Net shortfall | ₨ 0 | ₨ 0 |
Related Party Relationships and Transactions - Summary of Subsidiaries and Associates (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Wipro, LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro, LLC |
Country of Incorporation | USA |
Wipro Gallagher Solutions, LLC. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Gallagher Solutions, LLC |
Country of Incorporation | USA |
Wipro Opus Risk Solutions LLC (formerly known as Wipro Opus Mortgage Solutions LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Opus Risk Solutions LLC (formerly known as Wipro Opus Mortgage Solutions LLC) |
Country of Incorporation | USA |
Wipro Insurance Solutions LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Insurance Solutions, LLC |
Country of Incorporation | USA |
Wipro IT Services, LLC. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Services, LLC |
Country of Incorporation | USA |
Health Plan Services, Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | HealthPlan Services, Inc. |
Country of Incorporation | USA |
Wipro Appirio, Inc. [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Appirio, Inc. |
Country of Incorporation | USA |
Wipro Appirio, K.K. (formerly known as Appirio, K.K) [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Appirio, K.K. (formerly known as Appirio, K.K) |
Country of Incorporation | Japan |
Designit North America Inc [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit North America, Inc. |
Country of Incorporation | USA |
Infocrossing, LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Infocrossing, LLC |
Country of Incorporation | USA |
Wipro US Foundation [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro US Foundation |
Country of Incorporation | USA |
International TechneGroup Incorporated [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | International TechneGroup Incorporated |
Country of Incorporation | USA |
Wipro Designit Services, Inc [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Designit Services, Inc. |
Country of Incorporation | USA |
Wipro VLSI Design Services LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro VLSI Design Services, LLC |
Country of Incorporation | USA |
Cardinal US Holdings, Inc. [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Cardinal US Holdings, Inc. |
Country of Incorporation | USA |
LeanSwift Solutions, Inc [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | LeanSwift Solutions, Inc. |
Country of Incorporation | USA |
Edgile, LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Edgile, LLC |
Country of Incorporation | USA |
Wipro Overseas IT Services Private Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Overseas IT Services Private Limited |
Country of Incorporation | India |
Wipro Japan KK [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Japan KK |
Country of Incorporation | Japan |
Designit Tokyo Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit Tokyo Ltd. |
Country of Incorporation | Japan |
Wipro Shanghai Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Shanghai Limited |
Country of Incorporation | China |
Wipro Trademarks Holding Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Trademarks Holding Limited |
Country of Incorporation | India |
Wipro Travel Services Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Travel Services Limited |
Country of Incorporation | India |
Wipro Holdings UK Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Holdings (UK) Limited |
Country of Incorporation | U.K. |
Designit AS [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit A/S |
Country of Incorporation | Denmark |
Designit Denmark A/S [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit Denmark A/S |
Country of Incorporation | Denmark |
Designit Germany GmbH [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit Germany GmbH |
Country of Incorporation | Germany |
Designit Oslo A/S [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit Oslo A/S |
Country of Incorporation | Norway |
Designit Sweden AB [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit Sweden AB |
Country of Incorporation | Sweden |
Designit T.L.V Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit T.L.V Ltd. |
Country of Incorporation | Israel |
Designit Spain Digital, S.L.U [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Designit Spain Digital, S.L.U |
Country of Incorporation | Spain |
Wipro Europe Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Europe Limited |
Country of Incorporation | U.K. |
Wipro UK Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro UK Limited |
Country of Incorporation | U.K. |
Wipro Financial Services UK Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Financial Services UK Limited |
Country of Incorporation | U.K. |
Wipro IT Services S.R.L. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Services S.R.L. |
Country of Incorporation | Romania |
Wipro Gulf LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Gulf LLC |
Country of Incorporation | Sultanate of Oman |
Wipro Bahrain Limited Co. W.L.L [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Bahrain Limited Co. W.L.L |
Country of Incorporation | Bahrain |
Wipro 4C NV [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro 4C NV |
Country of Incorporation | Belgium |
Wipro 4C Danmark ApS [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro 4C Danmark ApS |
Country of Incorporation | Denmark |
Wipro 4C Nederland B.V (formerly known as 4C Nederland B.V) | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro 4C Nederland B.V (formerly known as 4C Nederland B.V) |
Country of Incorporation | Netherlands |
Wipro Weare4C UK Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Weare4C UK Limited |
Country of Incorporation | U.K. |
Wipro 4C Consulting France SAS [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro 4C Consulting France SAS |
Country of Incorporation | France |
Wipro IT Services UK Societas [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Services UK Societas |
Country of Incorporation | U.K. |
Wipro Doha LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Doha LLC |
Country of Incorporation | Qatar |
Wipro Technologies SA DE CV [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies SA DE CV |
Country of Incorporation | Mexico |
Wipro Holdings Hungary Korlátolt Felelősségű Társaság [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Holdings Hungary Korlátolt Felelősségű Társaság |
Country of Incorporation | Hungary |
Wipro Holdings Investment Korlátolt Felelősségű Társaság [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Holdings Investment Korlátolt Felelősségű Társaság |
Country of Incorporation | Hungary |
Wipro Information Technology Egypt SAE [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Information Technology Egypt SAE |
Country of Incorporation | Egypt |
Wipro Arabia Co. Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Arabia Co. Limited |
Country of Incorporation | Saudi Arabia |
Women's Business Park Technologies Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Women’s Business Park Technologies Limited |
Country of Incorporation | Saudi Arabia |
Wipro Poland SP Z.O.O [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Poland SP Z.O.O |
Country of Incorporation | Poland |
Wipro IT Services Poland SP Z.O.O [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Services Poland SP Z.O.O |
Country of Incorporation | Poland |
Wipro Technologies Australia Pty Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies Australia Pty Ltd |
Country of Incorporation | Australia |
Ampion Holdings Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Ampion Holdings Pty Ltd |
Country of Incorporation | Australia |
Wipro Technologies South Africa (Proprietary) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies South Africa (Proprietary) Limited |
Country of Incorporation | South Africa |
Wipro Technologies Nigeria Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies Nigeria Limited |
Country of Incorporation | Nigeria |
Wipro IT Services Ukraine LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Service Ukraine, LLC |
Country of Incorporation | Ukraine |
Wipro Information Technology Netherlands BV. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Information Technology Netherlands BV. |
Country of Incorporation | Netherlands |
Wipro Portugal S.A. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Portugal S.A. |
Country of Incorporation | Portugal |
Wipro Technologies Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies Limited |
Country of Incorporation | Russia |
Wipro Technology Chile SPA [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technology Chile SPA |
Country of Incorporation | Chile |
Wipro Solutions Canada Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Solutions Canada Limited |
Country of Incorporation | Canada |
Wipro Information Technology Kazakhstan LLP [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Information Technology Kazakhstan LLP |
Country of Incorporation | Kazakhstan |
Wipro Technologies W.T. Sociedad Anonima [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies W.T. Sociedad Anonima |
Country of Incorporation | Costa Rica |
Wipro Outsourcing Services (Ireland) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Outsourcing Services (Ireland) Limited |
Country of Incorporation | Ireland |
Wipro Technologies Peru SAC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies Peru SAC |
Country of Incorporation | Peru |
Wipro do Brasil Technologia Ltda [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro do Brasil Technologia Ltda |
Country of Incorporation | Brazil |
Wipro Technologies SA [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies SA |
Country of Incorporation | Argentina |
Wipro Technologies S.R.L [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies S.R.L |
Country of Incorporation | Romania |
PT WT Indonesia [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | PT WT Indonesia |
Country of Incorporation | Indonesia |
Wipro (Thailand) Co. Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro (Thailand) Co. Limited |
Country of Incorporation | Thailand |
Rainbow Software LLC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Rainbow Software LLC |
Country of Incorporation | Iraq |
Cardinal Foreign Holdings S.á.r.l [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Cardinal Foreign Holdings S.á.r.l |
Country of Incorporation | Luxembourg |
Cardinal Foreign Holdings 2 S.á.r.l [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Cardinal Foreign Holdings 2 S.á.r.l |
Country of Incorporation | Luxembourg |
Wipro Networks Pte Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Networks Pte Limited |
Country of Incorporation | Singapore |
Wipro (Dalian) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro (Dalian) Limited |
Country of Incorporation | China |
Wipro Technologies SDN BHD [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies SDN BHD |
Country of Incorporation | Malaysia |
Wipro Chengdu Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Chengdu Limited |
Country of Incorporation | China |
Wipro Philippines, Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Philippines, Inc. |
Country of Incorporation | Philippines |
Wipro IT Services Bangladesh Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Services Bangladesh Limited |
Country of Incorporation | Bangladesh |
Wipro HR Services India Private Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro HR Services India Private Limited |
Country of Incorporation | India |
Encore Theme Technologies Private Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Encore Theme Technologies Private Limited |
Country of Incorporation | India |
Wipro VLSI Design Services India Private Limited (Formerly known as Eximius Design India Private Limited) [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro VLSI Design Services India Private Limited (Formerly known as Eximius Design India Private Limited) |
Country of Incorporation | India |
Capco Technologies Private Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Technologies Private Limited |
Country of Incorporation | India |
Wipro Technologies Gmbh [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technologies GmbH |
Country of Incorporation | Germany |
Wipro IT Services Austria GmbH [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro IT Services Austria GmbH |
Country of Incorporation | Austria |
Wipro Business Solutions GmbH (Formerly Known as Metronom GmbH) [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Business Solutions GmbH (formerly known as Metro-nom GmbH) |
Country of Incorporation | Germany |
Wipro Do Brasil Sistemetas De Informatica Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Do Brasil Sistemetas De Informatica Ltd |
Country of Incorporation | Brazil |
Wipro do Brasil Servicos Ltda [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro do Brasil Servicos Ltda |
Country of Incorporation | Brazil |
HealthPlan Services Insurance Agency, LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | HealthPlan Services Insurance Agency, LLC |
Country of Incorporation | USA |
International TechneGroup Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | International TechneGroup Ltd. |
Country of Incorporation | U.K. |
ITI Proficiency Ltd [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | ITI Proficiency Ltd |
Country of Incorporation | Israel |
MechWorks S.R.L. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | MechWorks S.R.L. |
Country of Incorporation | Italy |
Wipro Designit Services Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Designit Services Limited |
Country of Incorporation | Ireland |
Topcoder, LLC. [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Topcoder, LLC. |
Country of Incorporation | USA |
CloudSocius DMCC [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | CloudSocius DMCC |
Country of Incorporation | UAE |
Wipro Appirio (Ireland) Limited [member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Appirio (Ireland) Limited |
Country of Incorporation | Ireland |
Wipro Appirio UK Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Appirio UK Limited |
Country of Incorporation | U.K. |
LeanSwift Solutions, Inc. [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | LeanSwift Solutions, Inc. |
Country of Incorporation | USA |
Wipro Italia S.R.L. (formerly known as International TechneGroup S.R.L.) [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Italia S.R.L. (formerly known as International TechneGroup S.R.L.) |
Country of Incorporation | Italy |
Grove Holdings 2 S..r.l [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Grove Holdings 2 S.á.r.l |
Country of Incorporation | Luxembourg |
The Capital Markets Company BV [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company BV |
Country of Incorporation | Belgium |
Capco Brasil Serviços E Consultoria Em Informática Ltda [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Brasil Serviços E Consultoria Em Informática Ltda |
Country of Incorporation | Brazil |
The Capital Markets Company LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company LLC |
Country of Incorporation | USA |
CAPCO (US) LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | CAPCO (US) LLC |
Country of Incorporation | USA |
The Capital Markets Company S.á.r.l [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company S.á.r.l |
Country of Incorporation | Switzerland |
Andrion AG [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Andrion AG |
Country of Incorporation | Switzerland |
The Capital Markets Company BV [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company BV |
Country of Incorporation | Netherlands |
Capco Belgium BV [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Belgium BV |
Country of Incorporation | Belgium |
The Capital Markets Company (UK) Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company (UK) Ltd |
Country of Incorporation | UK |
Capco (UK) 1, Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco (UK) 1, Limited |
Country of Incorporation | UK |
The Capital Markets Company Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company Limited |
Country of Incorporation | Canada |
Capco (US) GP LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco (US) GP LLC |
Country of Incorporation | USA |
Revolution IT Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Revolution IT Pty Ltd |
Country of Incorporation | Australia |
Iris Holdco Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Iris Holdco Pty Ltd |
Country of Incorporation | Australia |
LeanSwift Solutions, LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | LeanSwift Solutions, LLC |
Country of Incorporation | USA |
LeanSwift AB [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | LeanSwift AB |
Country of Incorporation | Sweden |
Capco Consulting Services LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Consulting Services LLC |
Country of Incorporation | USA |
Capco RISC Consulting LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco RISC Consulting LLC |
Country of Incorporation | USA |
ATOM Solutions LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | ATOM Solutions LLC |
Country of Incorporation | USA |
NEOS Holdings LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | NEOS Holdings LLC |
Country of Incorporation | USA |
NEOS LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | NEOS LLC |
Country of Incorporation | USA |
NEOS Software LLC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | NEOS Software LLC |
Country of Incorporation | USA |
Ampion Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Ampion Pty Ltd |
Country of Incorporation | Australia |
Crowdsprint Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Crowdsprint Pty Ltd |
Country of Incorporation | Australia |
Capco Consulting Services (Guangzhou) Company Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Consulting Services (Guangzhou) Company Limited |
Country of Incorporation | China |
The Capital Markets Company s.r.o [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company s.r.o |
Country of Incorporation | Slovakia |
The Capital Markets Company S.A.S [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company S.A.S |
Country of Incorporation | France |
Capco Poland sp. z.o.o [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Poland sp. z.o.o |
Country of Incorporation | Poland |
CapAfric Consulting (Pty) Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | CapAfric Consulting (Pty) Ltd |
Country of Incorporation | South Africa |
Capco Consulting Singapore Pte. Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Consulting Singapore Pte. Ltd |
Country of Incorporation | Singapore |
The Capital Markets Company GmbH [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company GmbH |
Country of Incorporation | Germany |
Capco Austria GmbH [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Austria GmbH |
Country of Incorporation | Austria |
Capco Consultancy (Malaysia) Sdn. Bhd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Consultancy (Malaysia) Sdn. Bhd |
Country of Incorporation | Malaysia |
Capco Greece Single Member P.C [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Greece Single Member P.C |
Country of Incorporation | Greece |
Capco Consultancy (Thailand) Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco Consultancy (Thailand) Ltd |
Country of Incorporation | Thailand |
Wipro Technology Solutions S.R.L (formerly known as Metro Systems Romania S.R.L) [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Wipro Technology Solutions S.R.L (formerly known as Metro Systems Romania S.R.L) |
Country of Incorporation | Romania |
Iris Bidco Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Iris Bidco Pty Ltd |
Country of Incorporation | Australia |
Shelde Pty Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Shelde Pty Ltd |
Country of Incorporation | Australia |
The Capital Markets Company Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | The Capital Markets Company Limited |
Country of Incorporation | Hong Kong |
Capco (Canada) GP ULC [Member] | |
Disclosure of subsidiaries [line items] | |
Subsidiaries | Capco (Canada) GP ULC |
Country of Incorporation | Canada |
Related Party Relationships and Transactions - Additional Information (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Disclosure of transactions between related parties [line items] | |
Holding percentage | 100.00% |
Remaining ownership interest in Encore Theme Technologies Private Limited subject to regulatory approvals and confirmations [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of ownership interest | 3.32% |
Drivestream Inc [member] | |
Disclosure of transactions between related parties [line items] | |
Ownership interest | 43.70% |
Wipro Arabia Co. Limited [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of ownership interest | 66.67% |
Wipro Doha LLC [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of ownership interest by local shareholder | 51.00% |
Women's Business Park Technologies Limited [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of ownership interest | 55.00% |
Encore Theme Technologies Private Limited [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of ownership interest | 96.68% |
Related Party Relationships and Transactions - Summary of List of Controlled Trusts (Detail) |
12 Months Ended |
---|---|
Mar. 31, 2022 | |
Wipro Equity Reward Trust [member] | |
Disclosure Of List of Controlled Trusts [Line Items] | |
Name of the entity | Wipro Equity Reward Trust |
Country of incorporation | India |
Wipro Foundation [member] | |
Disclosure Of List of Controlled Trusts [Line Items] | |
Name of the entity | Wipro Foundation |
Country of incorporation | India |
Capco (Canada) LP [member] | |
Disclosure Of List of Controlled Trusts [Line Items] | |
Name of the entity | Capco (Canada) LP |
Country of incorporation | Canada |
Related Party Relationships and Transactions - Summary of Related Party Transactions (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||
Disclosure of transactions between related parties [line items] | |||||
Dividend | ₨ 2 | ₨ 4 | ₨ 367 | ||
Buyback of shares | [1] | 116,445 | 105,000 | ||
Entities controlled by directors [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Sales of goods and services | 182 | 171 | 43 | ||
Assets purchased | 158 | 423 | 741 | ||
Dividend | 3,760 | 3,760 | 3,987 | ||
Buyback of shares | 0 | 91,562 | 69,392 | ||
Rental income | 3 | 50 | 45 | ||
Rent Paid | 2 | 2 | 2 | ||
Others | 49 | 44 | 119 | ||
Remuneration and short-term benefits | 0 | ||||
Other benefits | 0 | ||||
Balance as at the year end | |||||
Receivables | 198 | 241 | 94 | ||
Payables | 23 | ||||
Key management personnel [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Sales of goods and services | 0 | ||||
Assets purchased | 0 | ||||
Dividend | 244 | 242 | 243 | ||
Buyback of shares | 0 | 0 | 4,076 | ||
Rental income | 0 | ||||
Rent Paid | 8 | 7 | 9 | ||
Others | 0 | ||||
Remuneration and short-term benefits | 805 | 741 | 354 | ||
Other benefits | 376 | 231 | 178 | ||
Balance as at the year end | |||||
Receivables | 0 | ||||
Payables | ₨ 293 | ₨ 333 | ₨ 166 | ||
|
Related Party Relationships and Transactions - Summary of Related Party Transactions (Parenthetical) (Detail) - INR (₨) ₨ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Mar. 31, 2022 |
Mar. 31, 2021 |
Mar. 31, 2020 |
|||
Disclosure of transactions between related parties [line items] | |||||
Share based compensation | [1] | ₨ 4,164 | ₨ 2,897 | ₨ 1,262 | |
Other benefits [member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Share based compensation | ₨ 368 | ₨ 219 | ₨ 170 | ||
|
Commitments and Contingencies - Additional Information (Detail) - INR (₨) ₨ in Millions |
Mar. 31, 2022 |
Mar. 31, 2021 |
---|---|---|
Disclosure of contingent liabilities [line items] | ||
Capital commitments | ₨ 11,376 | ₨ 7,490 |
Financial guarantee amount | 17,094 | 17,128 |
Tax contingent liability [member] | ||
Disclosure of contingent liabilities [line items] | ||
Contingent tax liability | 92,476 | 80,032 |
Excise duty, Custom duty, sales tax and other matters [member] | ||
Disclosure of contingent liabilities [line items] | ||
Contingent tax liability | ₨ 12,092 | ₨ 11,413 |
Segment Information - Summary of Information on Reportable Segments (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of operating segments [line items] | ||||
Revenue | ₨ 790,934 | $ 10,425 | ₨ 619,430 | ₨ 610,232 |
Other operating income/(loss), net | 2,186 | 29 | (81) | 1,144 |
Unallocated | 434 | 5,153 | 7,732 | |
Segment result total | 140,286 | 1,849 | 123,053 | 105,730 |
Finance expense | (5,325) | (70) | (5,088) | (7,328) |
Finance and other income | 16,257 | 214 | 20,912 | 24,081 |
Share of net profit/(loss) of associates accounted for using the equity method | 57 | 1 | 130 | 29 |
Profit before tax | 151,275 | 1,994 | 139,007 | 122,512 |
Income tax expense | (28,946) | (382) | (30,345) | (24,799) |
Profit for the year | 122,329 | $ 1,612 | 108,662 | 97,713 |
Depreciation, amortization and impairment | 30,911 | 27,656 | 20,862 | |
Information Technology Services [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 781,824 | 605,815 | 593,798 | |
Segment result | 136,458 | 117,778 | 98,797 | |
Unallocated | 434 | 5,153 | 7,732 | |
Segment result total | 139,078 | 122,850 | 107,673 | |
Information Technology Services [member] | Americas 1 [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 217,874 | 178,091 | 176,115 | |
Segment result | 42,820 | 33,040 | 27,289 | |
Information Technology Services [member] | Americas 2 [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 239,404 | 179,821 | 181,481 | |
Segment result | 47,376 | 41,589 | 34,341 | |
Information Technology Services [member] | Europe [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 233,443 | 165,441 | 157,526 | |
Segment result | 35,739 | 31,673 | 27,617 | |
Information Technology Services [member] | APMEA [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 91,103 | 82,462 | 78,676 | |
Segment result | 10,523 | 11,476 | 9,550 | |
Information Technology Products [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 6,173 | 7,685 | 11,657 | |
Segment result | 115 | 45 | (323) | |
Segment result total | 115 | 45 | (323) | |
India State Run Enterprise (ISRE) [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 7,295 | 8,912 | 7,950 | |
Segment result | 1,173 | 1,061 | (1,849) | |
Segment result total | 1,173 | 1,061 | (1,849) | |
Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 795,289 | 622,425 | 613,401 | |
Other operating income/(loss), net | 2,186 | (81) | 1,144 | |
Segment result | 137,666 | 117,981 | 96,854 | |
Operating Segments [member] | Information Technology Services [member] | ||||
Disclosure of operating segments [line items] | ||||
Other operating income/(loss), net | 2,186 | (81) | 1,144 | |
Material Reconciling Items [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | (3) | 13 | (4) | |
Segment result | (80) | (903) | 229 | |
Segment result total | ₨ (80) | ₨ (903) | ₨ 229 |
Segment Information - Additional Information (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 31, 2022
INR (₨)
Client
|
Mar. 31, 2022
USD ($)
Client
|
Mar. 31, 2021
INR (₨)
Client
|
Mar. 31, 2020
INR (₨)
Client
|
|||
Disclosure of operating segments [line items] | ||||||
No client individually accounted for more than 10% of revenues | Client | 0 | 0 | 0 | 0 | ||
Other operating income/(loss) | ₨ 2,186 | $ 29 | ₨ (81) | ₨ 1,144 | ||
Stock compensation expense recognized | [1] | 4,164 | 2,897 | 1,262 | ||
Revenues | 790,934 | $ 10,425 | 619,430 | 610,232 | ||
Contributions made to Covid - 19 | 991 | |||||
Marketing Related Intangible Assets and Software Platform Allocated to IT Services [Member] | ||||||
Disclosure of operating segments [line items] | ||||||
Impairment charge | 674 | |||||
Unallocated Marketing Related Intangible Assets and Software Platform [Member] | ||||||
Disclosure of operating segments [line items] | ||||||
Impairment charge | 302 | |||||
Customer-related intangible assets [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Additional amortization due to change in useful life | 795 | |||||
India [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Revenues | 25,939 | 27,156 | 29,374 | |||
Americas 1 [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Impairment charge | 1,250 | |||||
Europe [Member] | ||||||
Disclosure of operating segments [line items] | ||||||
Impairment charge | 192 | |||||
Operating Segments [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Other operating income/(loss) | 2,186 | (81) | 1,144 | |||
Revenues | 795,289 | 622,425 | 613,401 | |||
Information Technology Services [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Revenues | 781,824 | 605,815 | 593,798 | |||
Information Technology Services [member] | Americas 1 [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Revenues | 217,874 | 178,091 | 176,115 | |||
Information Technology Services [member] | Europe [Member] | ||||||
Disclosure of operating segments [line items] | ||||||
Revenues | 233,443 | 165,441 | 157,526 | |||
Information Technology Services [member] | Operating Segments [member] | ||||||
Disclosure of operating segments [line items] | ||||||
Other operating income/(loss) | 2,186 | (81) | 1,144 | |||
Stock compensation expense recognized | ₨ 4,164 | ₨ 2,897 | ₨ 1,262 | |||
|
Segment Information - Disclosure of Contribution of Revenue More than 10% from Geographical Areas (Detail) ₨ in Millions, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Mar. 31, 2022
INR (₨)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
INR (₨)
|
Mar. 31, 2020
INR (₨)
|
|
Disclosure of operating segments [line items] | ||||
Revenue | ₨ 790,934 | $ 10,425 | ₨ 619,430 | ₨ 610,232 |
Operating Segments [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 795,289 | 622,425 | 613,401 | |
Operating Segments [member] | Revenue greater than 10% percent benchmark | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 528,458 | 403,861 | 403,748 | |
Operating Segments [member] | United States of America [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | 427,021 | 336,009 | 338,490 | |
Operating Segments [member] | United Kingdom [member] | ||||
Disclosure of operating segments [line items] | ||||
Revenue | ₨ 101,437 | ₨ 67,852 | ₨ 65,258 |
Customer Contract With Metro AG - Additional Information (Details) - Metro AG [Member] ₨ in Millions |
Mar. 31, 2022
INR (₨)
|
---|---|
Disclosure of Bank Deposits [line items] | |
Total consideration paid for acquisition | ₨ 5,096 |
Net assets acquisition | ₨ 4,691 |
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