Document and Entity Information
Document and Entity Information | 12 Months Ended |
Mar. 31, 2019shares | |
Document And Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Trading Symbol | INFY |
Entity Registrant Name | Infosys Ltd |
Entity Central Index Key | 0001067491 |
Current Fiscal Year End Date | --03-31 |
Entity Well Known Seasoned Issuer | Yes |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock Shares Outstanding | 4,356,279,444 |
Entity Voluntary Filers | No |
Entity Address, State or Province | Karnataka |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 2,829 | $ 3,041 |
Current investments | 958 | 982 |
Trade receivables | 2,144 | 2,016 |
Unbilled revenues | 777 | 654 |
Prepayments and other current assets | 827 | 662 |
Income tax assets | 61 | |
Derivative financial instruments | 48 | 2 |
Current assets other than asset held for sale | 7,644 | 7,357 |
Assets held for sale | 316 | |
Total current assets | 7,644 | 7,673 |
Non-current assets | ||
Property, plant and equipment | 1,931 | 1,863 |
Goodwill | 512 | 339 |
Intangible assets | 100 | 38 |
Non-current investments | 670 | 883 |
Deferred income tax assets | 199 | 196 |
Income tax assets | 914 | 931 |
Other non-current assets | 282 | 332 |
Total non-current assets | 4,608 | 4,582 |
Total assets | 12,252 | 12,255 |
Current liabilities | ||
Trade payables | 239 | 107 |
Derivative financial instruments | 2 | 6 |
Current income tax liabilities | 227 | 314 |
Client deposits | 4 | 6 |
Unearned revenues | 406 | 352 |
Employee benefit obligations | 234 | 218 |
Provisions | 83 | 75 |
Other current liabilities | 1,498 | 1,036 |
Current liabilities other than liabilities classified as held for sale | 2,693 | 2,114 |
Liabilities directly associated with assets held for sale | 50 | |
Total current liabilities | 2,693 | 2,164 |
Non-current liabilities | ||
Deferred income tax liabilities | 98 | 82 |
Employee benefit obligations | 6 | 7 |
Other non-current liabilities | 55 | 42 |
Total liabilities | 2,852 | 2,295 |
Equity | ||
Share capital – ₹5/- ($0.16) par value 4,800,000,000 (2,400,000,000) authorized equity shares, issued and outstanding 4,335,954,462 (2,173,312,301) equity shares fully paid up, net of 20,324,982, (10,801,956) treasury shares each as at March 31, 2019 (March 31, 2018), respectively | 339 | 190 |
Share premium | 277 | 247 |
Retained earnings | 11,248 | 11,587 |
Cash flow hedge reserve | 3 | |
Other reserves | 384 | 244 |
Capital redemption reserve | 10 | 9 |
Other components of equity | (2,870) | (2,317) |
Total equity attributable to equity holders of the company | 9,391 | 9,960 |
Non-controlling interests | 9 | |
Total equity | 9,400 | 9,960 |
Total liabilities and equity | $ 12,252 | $ 12,255 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) | Mar. 31, 2019₨ / sharesshares | Mar. 31, 2019$ / sharesshares | Mar. 31, 2018₨ / sharesshares | Mar. 31, 2018$ / sharesshares | |
Statement Of Financial Position [Abstract] | |||||
Par value per share | (per share) | ₨ 5 | $ 0.16 | ₨ 5 | $ 0.16 | |
Number of shares authorized | 4,800,000,000 | 4,800,000,000 | 2,400,000,000 | 2,400,000,000 | |
Number of shares issued, net | 4,335,954,462 | 4,335,954,462 | 2,173,312,301 | 2,173,312,301 | |
Number of shares outstanding | [1] | 4,335,954,462 | 4,335,954,462 | 2,173,312,301 | 2,173,312,301 |
Treasury shares | 20,324,982 | 20,324,982 | 10,801,956 | 10,801,956 | |
[1] | excludes treasury shares of 20,324,982 as of March 31, 2019, 10,801,956 as of March 31, 2018 and 11,289,514 as of March 31, 2017 and 11,323,576 April 1, 2016, held by consolidated trust. The treasury shares as at March 31, 2018, March 31, 2017 and April 1, 2016 have not been adjusted for the September 2018 bonus issue. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | ||
Comprehensive Income [Abstract] | ||||
Revenues | $ 11,799 | $ 10,939 | $ 10,208 | |
Cost of sales | 7,687 | 7,001 | 6,446 | |
Gross profit | 4,112 | 3,938 | 3,762 | |
Operating expenses: | ||||
Selling and marketing expenses | 638 | 552 | 535 | |
Administrative expenses | 778 | 727 | 707 | |
Total operating expenses | 1,416 | 1,279 | 1,242 | |
Operating profit | 2,696 | 2,659 | 2,520 | |
Other income, net | 411 | 513 | 459 | |
Reduction in the fair value of Disposal Group held for sale | (39) | (18) | ||
Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" | (65) | |||
Share in associate's profit/ (loss), including impairment | (11) | (5) | ||
Profit before income taxes | 3,003 | 3,143 | 2,974 | |
Income tax expense | 803 | 657 | 834 | |
Net profit | 2,200 | 2,486 | 2,140 | |
Items that will not be reclassified subsequently to profit or loss: | ||||
Re-measurements of the net defined benefit liability / asset, net | [1] | (3) | 9 | (7) |
Cumulative impact on reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 | (5) | |||
Equity instruments through other comprehensive income, net | [1] | 10 | 1 | (1) |
Other comprehensive income that will not be reclassified to profit or loss, net of tax | 7 | 10 | (13) | |
Items that will be reclassified subsequently to profit or loss: | ||||
Fair valuation of investments, net | [1] | (2) | ||
Fair value changes on derivatives designated as cash flow hedge, net | [1] | 3 | (6) | 6 |
Foreign currency translation | (560) | 18 | 198 | |
Total other comprehensive income that will be reclassified to profit or loss, net of tax | (557) | 12 | 202 | |
Total other comprehensive income/(loss), net of tax | (550) | 22 | 189 | |
Total comprehensive income | 1,650 | 2,508 | 2,329 | |
Profit attributable to: | ||||
Owners of the company | 2,199 | 2,486 | 2,140 | |
Non-controlling interests | 1 | |||
Net profit | 2,200 | 2,486 | 2,140 | |
Total comprehensive income attributable to: | ||||
Owners of the company | 1,649 | 2,508 | 2,329 | |
Non-controlling interests | 1 | |||
Total comprehensive income | $ 1,650 | $ 2,508 | $ 2,329 | |
Earnings per equity share | ||||
Basic (in $ per share) | $ 0.51 | $ 0.55 | $ 0.47 | |
Diluted (in $ per share) | $ 0.51 | $ 0.55 | $ 0.47 | |
Weighted average equity shares used in computing earnings per equity share | ||||
Basic (in shares) | 4,347,130,157 | 4,510,664,644 | 4,571,278,894 | |
Diluted (in shares) | 4,353,420,772 | 4,515,147,740 | 4,572,793,490 | |
[1] | net of taxes |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity $ in Millions | USD ($)shares | Share CapitalUSD ($) | Share PremiumUSD ($) | Retained EarningsUSD ($) | Other ReservesUSD ($) | Capital Redemption ReserveUSD ($) | Cash Flow Hedge ReserveUSD ($) | Other Components of EquityUSD ($) | Total equity attributable to equity holders of the companyUSD ($) | Non-controlling interestUSD ($) | |
Balance at Mar. 31, 2016 | $ 9,324 | $ 199 | $ 570 | $ 11,083 | $ (2,528) | $ 9,324 | |||||
Balance, Shares at Mar. 31, 2016 | shares | [1] | 2,285,621,088 | |||||||||
Changes in equity for the year | |||||||||||
Net profit | $ 2,140 | 2,140 | 2,140 | ||||||||
Re-measurement of the net defined benefit liability / asset* (Refer to Note 2.12 and 2.17) | [2] | (7) | (7) | (7) | |||||||
Fair value changes on derivatives designated as cash flow hedge* (Refer note 2.3 and 2.17) | [2] | 6 | $ 6 | 6 | |||||||
Equity instruments through other comprehensive income *(Refer note 2.2 and 2.17) | [2] | (1) | (1) | (1) | |||||||
Cumulative impact of Reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 (Refer note 2.3) | (5) | (5) | (5) | ||||||||
Fair valuation of investments (Refer note 2.2 and 2.17) * | [2] | (2) | (2) | (2) | |||||||
Exchange difference on translation of foreign operations | 198 | 198 | 198 | ||||||||
Total comprehensive income for the period | 2,329 | 2,140 | 6 | 183 | 2,329 | ||||||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16) | $ 0 | ||||||||||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16), Shares | shares | [1] | 34,062 | |||||||||
Transfer to other reserves (Refer note 2.13) | $ 0 | (142) | $ 142 | ||||||||
Transfer from other reserves on utilization (Refer note 2.13) | 0 | 142 | (142) | ||||||||
Employee stock compensation expense (Refer to note 2.16) | 17 | 17 | 17 | ||||||||
Dividends (including corporate dividend tax)(1) | [3] | (1,033) | (1,033) | (1,033) | |||||||
Balance at Mar. 31, 2017 | $ 10,637 | 199 | 587 | 12,190 | 6 | (2,345) | 10,637 | ||||
Balance, Shares at Mar. 31, 2017 | shares | [1] | 2,285,655,150 | |||||||||
Changes in equity for the year | |||||||||||
Net profit | $ 2,486 | 2,486 | 2,486 | ||||||||
Re-measurement of the net defined benefit liability / asset* (Refer to Note 2.12 and 2.17) | [2] | 9 | 9 | 9 | |||||||
Fair value changes on derivatives designated as cash flow hedge* (Refer note 2.3 and 2.17) | [2] | (6) | (6) | (6) | |||||||
Equity instruments through other comprehensive income *(Refer note 2.2 and 2.17) | [2] | 1 | 1 | 1 | |||||||
Exchange difference on translation of foreign operations | 18 | 18 | 18 | ||||||||
Total comprehensive income for the period | 2,508 | 2,486 | (6) | 28 | 2,508 | ||||||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16) | $ 1 | 1 | 1 | ||||||||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16), Shares | shares | [1] | 700,629 | |||||||||
Transfer to other reserves (Refer note 2.13) | $ 0 | (340) | 340 | ||||||||
Transfer from other reserves on utilization (Refer note 2.13) | 0 | 96 | (96) | ||||||||
Employee stock compensation expense (Refer to note 2.16) | 12 | 12 | 12 | ||||||||
Amount paid upon buyback* (refer note 2.13) | [2] | $ (2,035) | (9) | (346) | (1,680) | (2,035) | |||||
Amount paid upon buyback* (refer note 2.13) | shares | [1],[2] | (113,043,478) | |||||||||
Transaction costs related to buyback* (refer note 2.13) | [2] | $ (7) | (7) | (7) | |||||||
Amount transferred to capital redemption reserve upon Buyback (Refer note 2.13) | 0 | (9) | $ 9 | ||||||||
Dividends (including corporate dividend tax)(1) | [3] | (1,156) | (1,156) | (1,156) | |||||||
Balance at Mar. 31, 2018 | $ 9,960 | 190 | 247 | 11,587 | 244 | 9 | (2,317) | 9,960 | |||
Balance, Shares at Mar. 31, 2018 | shares | [1] | 2,173,312,301 | |||||||||
Changes in equity for the year | |||||||||||
Net profit | $ 2,200 | 2,199 | 2,199 | $ 1 | |||||||
Re-measurement of the net defined benefit liability / asset* (Refer to Note 2.12 and 2.17) | [2] | (3) | (3) | (3) | |||||||
Fair value changes on derivatives designated as cash flow hedge* (Refer note 2.3 and 2.17) | [2] | 3 | 3 | 3 | |||||||
Equity instruments through other comprehensive income *(Refer note 2.2 and 2.17) | [2] | 10 | 10 | 10 | |||||||
Exchange difference on translation of foreign operations | (560) | (560) | (560) | ||||||||
Total comprehensive income for the period | 1,650 | 2,199 | 3 | (553) | 1,649 | 1 | |||||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16) | $ 0 | ||||||||||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16), Shares | shares | [1] | 392,528 | |||||||||
Increase in share capital on account of Bonus issue (Refer to note 2.13) | [3] | $ 150 | 150 | 150 | |||||||
Increase in share capital on account of Bonus issue (Refer to note 2.13), shares | shares | [1],[3] | 2,173,704,829 | |||||||||
Amounts utilized for bonus issue (Refer to note 2.13) | [3] | $ (150) | (150) | (150) | |||||||
Shares issued on exercise of employee stock options - after bonus issue (Refer to note 2.13) | $ 1 | 1 | 1 | ||||||||
Shares issued on exercise of employee stock options - after bonus issue, Shares | shares | [1] | 1,196,804 | |||||||||
Buyback of equity shares (Refer to note 2.5 and 2.13) | $ (289) | (1) | (288) | (289) | |||||||
Buyback of equity shares (Refer to note 2.5 and 2.13), Shares | shares | [1] | (12,652,000) | |||||||||
Transfer to other reserves (Refer note 2.13) | $ 0 | (346) | 346 | ||||||||
Transfer from other reserves on utilization (Refer note 2.13) | 0 | 206 | (206) | ||||||||
Employee stock compensation expense (Refer to note 2.16) | 28 | 28 | 28 | ||||||||
Income tax benefit arising on exercise of stock options | 1 | 1 | 1 | ||||||||
Transaction costs related to buyback* (refer note 2.13) | [2] | (2) | (2) | (2) | |||||||
Amount transferred to capital redemption reserve upon Buyback (Refer note 2.13) | 0 | (1) | 1 | ||||||||
Non-controlling interests on acquisition of subsidiary (Refer to note 2.9) | 8 | 8 | |||||||||
Dividends (including corporate dividend tax)(1) | [3] | (1,957) | (1,957) | (1,957) | |||||||
Balance at Mar. 31, 2019 | $ 9,400 | $ 339 | $ 277 | $ 11,248 | $ 384 | $ 10 | $ 3 | $ (2,870) | $ 9,391 | $ 9 | |
Balance, Shares at Mar. 31, 2019 | shares | [1] | 4,335,954,462 | |||||||||
[1] | excludes treasury shares of 20,324,982 as of March 31, 2019, 10,801,956 as of March 31, 2018 and 11,289,514 as of March 31, 2017 and 11,323,576 April 1, 2016, held by consolidated trust. The treasury shares as at March 31, 2018, March 31, 2017 and April 1, 2016 have not been adjusted for the September 2018 bonus issue. | ||||||||||
[2] | net of taxes | ||||||||||
[3] | net of treasury shares |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - shares | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Apr. 01, 2016 |
Statement Of Changes In Equity [Abstract] | ||||
Treasury shares | 20,324,982 | 10,801,956 | 11,289,514 | 11,323,576 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ₨ in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | |
Operating activities: | |||
Net profit | $ 2,200 | $ 2,486 | $ 2,140 |
Adjustments to reconcile net profit to net cash provided by operating activities: | |||
Depreciation and amortization | 287 | 289 | 254 |
Interest and dividend income | (130) | (129) | (51) |
Income tax expense | 803 | 657 | 834 |
Effect of exchange rate changes on assets and liabilities | 10 | 3 | 6 |
Impairment loss under expected credit loss model | 34 | 5 | 20 |
Reduction in fair value of Disposal Group held for sale | 39 | 18 | |
Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" | 65 | ||
Share in net profit/(loss) of associate, including impairment | 11 | 5 | |
Stock compensation expense | 29 | 13 | 17 |
Other adjustments | (15) | (20) | 7 |
Changes in working capital | |||
Trade receivables and unbilled revenues | (411) | (237) | (260) |
Prepayments and other assets | (120) | (58) | (70) |
Trade payables | 131 | 51 | (3) |
Client deposits | (2) | 1 | 1 |
Unearned revenues | 48 | 104 | 66 |
Other liabilities and provisions | 269 | 122 | (24) |
Cash generated from operations | 3,237 | 3,316 | 2,942 |
Income taxes paid | (975) | (1,059) | (843) |
Net cash provided by operating activities | 2,262 | 2,257 | 2,099 |
Investing activities: | |||
Expenditure on property, plant and equipment | (349) | (310) | (411) |
Loans to employees | 2 | 4 | 4 |
Payment for acquisition of business, net of cash acquired | (77) | (4) | |
Payment of contingent consideration pertaining to acquisition of business | (3) | (5) | (5) |
Advance payment towards acquisition of business | (30) | ||
Deposits placed with corporation | (3) | (20) | (25) |
Interest and dividend received | 79 | 67 | 32 |
Investment in quoted debt securities | (145) | (16) | (638) |
Redemption of quoted debt securities | 123 | 18 | 1 |
Proceeds from sale of equity and preference securities | 16 | 5 | |
Investment in equity and preference securities | (3) | (4) | (10) |
Investment in other investments | (3) | (4) | (4) |
Redemption of other investments | 2 | ||
Investment in certificates of deposit | (342) | (1,032) | (1,167) |
Redemption of certificates of deposit | 791 | 1,503 | |
Investment in commercial papers | (70) | (45) | |
Redemption of commercial papers | 43 | ||
Escrow and other deposits pertaining to Buyback | (37) | ||
Investment in liquid mutual fund units and fixed maturity plan securities | (11,184) | (9,628) | (8,083) |
Redemption of liquid mutual fund units and fixed maturity plan securities | 10,965 | 9,953 | 7,759 |
Net cash (used)/ generated in investing activities | (225) | 482 | (2,547) |
Financing activities: | |||
Buyback of shares including transaction cost | (118) | (2,042) | |
Shares issued on exercise of employee stock options | 1 | 1 | |
Payment of dividends (including corporate dividend tax) | (1,956) | (1,156) | (1,032) |
Net cash used in financing activities | (2,073) | (3,197) | (1,032) |
Net increase/(decrease) in cash and cash equivalents | (36) | (458) | (1,480) |
Effect of exchange rate changes on cash and cash equivalents | (184) | 18 | 34 |
Cash and cash equivalents at the beginning | 3,049 | 3,489 | 4,935 |
Cash and cash equivalents at the end | 2,829 | 3,049 | 3,489 |
Supplementary information: | |||
Restricted cash balance | $ 52 | $ 82 | $ 88 |
Overview
Overview | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Overview | 1. Overview 1.1 Company overview Infosys Limited ('the Company' or Infosys) is a leading provider of consulting, technology, outsourcing and next-generation digital services, enabling clients to execute strategies for their digital transformation. Infosys strategic objective is to build a sustainable organization that remains relevant to the agenda of clients, while creating growth opportunities for employees and generating profitable returns for investors. Infosys strategy is to be a navigator for our clients as they ideate, plan and execute on their journey to a digital future. Infosys together with its subsidiaries and controlled trusts is herein after referred to as the “Group”. The Company is a public limited company incorporated and domiciled in India and has its registered office at Bengaluru, Karnataka, India. The Company has its primary listings on the BSE Limited and National Stock Exchange of India Limited in India. The Company’s American Depositary Shares representing equity shares are listed on the New York Stock Exchange (NYSE). Further, the Company's ADS were also listed on the Euronext London and Euronext Paris. On July 5, 2018, the Company voluntarily delisted its ADS from Euronext London and Euronext Paris due to low average daily trading volume of its ADS on these exchanges. The Group's consolidated financial statements are authorized for issue by the company’s Board of Directors on June 19, 2019. 1.2 Basis of preparation of financial statements These consolidated financial statements have been prepared in compliance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board, under the historical cost convention on the accrual basis except for certain financial instruments which have been measured at fair values. Accounting policies have been applied consistently to all periods presented in these consolidated financial statements. As the year-end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add up to the year-end figures reported in this statement. 1.3 Basis of consolidation Infosys consolidates entities which it owns or controls. The consolidated financial statements comprise the financial statements of the company, its controlled trusts and its subsidiaries. Control exists when the parent has power over the entity, is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant activities, those which significantly affect the entity's returns. Subsidiaries are consolidated from the date control commences until the date control ceases. The financial statements of the Group companies are consolidated on a line-by-line basis and intra-group balances and transactions including unrealized gain / loss from such transactions are eliminated upon consolidation. These financial statements are prepared by applying uniform accounting policies in use at the Group. Non-controlling interests which represent part of the net profit or loss and net assets of subsidiaries that are not, directly or indirectly, owned or controlled by the company, are excluded. Refer to note 2.19 for the list of subsidiaries and controlled trusts of the Company. 1.4 Use of estimates and judgements The preparation of the financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed in Note 1.5. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates and judgments are reflected in the consolidated financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the consolidated financial statements. 1.5 Critical accounting estimates and judgements a. Revenue recognition The group uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the percentage-of-completion method requires the group to estimate the efforts or costs expended to date as a proportion of the total efforts or costs to be expended. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Further, the Group uses significant judgements while determining the transaction price allocated to performance obligations using the expected cost plus margin approach. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the expected contract estimates at the reporting date. b. Income taxes The company's two major tax jurisdictions are India and the U.S., though the company also files tax returns in other overseas jurisdictions. Significant judgments are involved in determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions. In assessing the realizability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the group will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. (Refer to Note 2.17) c. Business combinations and intangible assets Business combinations are accounted for using IFRS 3 (Revised), Business Combinations. IFRS 3 requires the identifiable intangible assets and contingent consideration to be fair valued in order to ascertain the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. Significant estimates are required to be made in determining the value of contingent consideration and intangible assets. These valuations are conducted by independent valuation experts (Refer to Note 2.8 and 2.9). d. Property, plant and equipment Property, plant and equipment represent a significant proportion of the asset base of the Group. The charge in respect of periodic depreciation is derived after determining an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The useful lives and residual values of the Group's assets are determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology (Refer to Note 2.7). e. Impairment of Goodwill Goodwill is tested for impairment on an annual basis and whenever there is an indication that the recoverable amount of a cash generating unit is less than its carrying amount based on a number of factors including operating results, business plans, future cash flows and economic conditions. The recoverable amount of cash generating units is determined based on higher of value-in-use and fair value less cost to sell. The goodwill impairment test is performed at the level of the cash-generating unit or groups of cash-generating units which are benefitting from the synergies of the acquisition and which represents the lowest level at which goodwill is monitored for internal management purposes. Market related information and estimates are used to determine the recoverable amount. Key assumptions on which management has based its determination of recoverable amount include estimated long term growth rates, weighted average cost of capital and estimated operating margins. Cash flow projections take into account past experience and represent management’s best estimate about future developments (Refer to Note 2.8). f. Non-current assets and Disposal groups held for sale Assets and liabilities of disposal groups held for sale are measured at the lower of carrying amount and fair value less costs to sell. The determination of fair value less costs to sell includes use of management estimates and assumptions. The fair value of the disposal groups have been estimated using valuation techniques including income and market approach which includes unobservable inputs. Non-current assets and Disposal Group that ceases to be classified as held for sale shall be measured at the lower of carrying amount before the Non-current asset and Disposal Group was classified as held for sale adjusted for any depreciation/ amortization and its recoverable amount at the date when the Disposal Group no longer meets the " Held for sale" criteria. Recoverable amounts of assets reclassified from held for sale have been estimated using management’s assumptions which consist of significant unobservable inputs. 1.6 Recent accounting pronouncements 1.6.1 Standards issued but not yet effective IFRS 16 Leases: On January 13, 2016, the International Accounting Standards Board issued IFRS 16, Leases replacing the existing leases Standard, IAS 17 Leases and related Interpretations. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. IFRS 16 introduces a single lessee accounting model for a lessee and requires the lessee to recognize assets and liabilities for all leases unless the lease term is twelve months or less or unless the underlying asset is low value in nature. Currently, operating lease expenses are charged to the statement of comprehensive income. IFRS 16 will result in an increase in cash inflows from operating activities and an increase in cash outflows from financing activities on account of repayment of lease liabilities. The Standard also contains enhanced disclosure requirements for lessees. IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. The effective date for adoption of IFRS 16 is annual periods beginning on or after January 1, 2019 and the standard permits two possible methods of transition: • Full retrospective – Retrospectively to each prior period presented applying IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors • Modified retrospective – Retrospectively, with the cumulative effect of initially applying the Standard recognized at the date of initial application Under modified retrospective approach, the lessee records the lease liability as the present value of the remaining lease payments, discounted at the incremental borrowing rate and the right of use asset either as: • Its carrying amount as if the standard had been applied since the commencement date, but discounted at lessee’s incremental borrowing rate at the date of initial application or • An amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments related to that lease recognized under IAS 17 immediately before the date of initial application. Certain practical expedients are available under both the methods. On completion of evaluation of the effect of adoption of IFRS 16, the Group is proposing to use the ‘Modified Retrospective Approach’ for transitioning to IFRS 16, and take the cumulative adjustment to retained earnings, on the date of initial application (April 1, 2019). Accordingly, comparatives for the year ended March 31, 2019 will not be retrospectively adjusted. The Group has elected certain available practical expedients on transition. The effect of adoption as on transition date would majorly result in an increase in Right of use asset approximately by $395 million, net investment in sub-lease approximately by $60 million and an increase in lease liability approximately by $495 million. The cumulative effect of applying the standard would be adjusted in retained earnings, net of taxes IFRIC 23, Uncertainty over Income Tax Treatments: The International Accounting Standards Board (IASB) issued IFRS interpretation IFRIC 23 Uncertainty over Income Tax Treatments which is to be applied while performing the determination of taxable profit (or loss), tax bases, unused tax losses, unused tax credits and tax rates, when there is uncertainty over income tax treatments under IAS 12. According to IFRIC 23, companies need to determine the probability of the relevant tax authority accepting each tax treatment, or group of tax treatments, that the companies have used or plan to use in their income tax filing which has to be considered to compute the most likely amount or the expected value of the tax treatment when determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The standard permits two possible methods of transition - i) Full retrospective approach – Under this approach, IFRIC 23 will be applied retrospectively to each prior reporting period presented in accordance with IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors, without using hindsight and ii) Retrospectively with cumulative effect of initially applying IFRIC 23 recognized by adjusting equity on initial application, without adjusting comparatives. The effective date for adoption of IFRIC 23 is annual periods beginning on or after January 1, 2019, though early adoption is permitted. The Group will adopt the standard on April 1, 2019 and has decided to adjust the cumulative effect in equity on the date of initial application i.e. April 1, 2019 without adjusting comparatives. The effect on adoption of IFRIC 23 would be insignificant in the consolidated financial statements. Amendment to IAS 12 – Income taxes: In December 2017, the IASB issued amendments to the guidance in IAS 12, ‘Income Taxes’, in connection with accounting for dividend distribution taxes. The amendment clarifies that an entity shall recognize the income tax consequences of dividends in profit or loss, other comprehensive income or equity according to where the entity originally recognised those past transactions or events. Effective date for application of this amendment is annual period beginning on or after January 1, 2019, although early application is permitted. The Amendment to IAS 19 – plan amendment, curtailment or settlement- On February 7, 2018, the IASB issued amendments to the guidance in IAS 19, ‘Employee Benefits’, in connection with accounting for plan amendments, curtailments and settlements. The amendments require an entity: • to use updated assumptions to determine current service cost and net interest for the remainder of the period after a plan amendment, curtailment or settlement; and • to recognize in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a surplus, even if that surplus was not previously recognised because of the impact of the asset ceiling. Effective date for application of this amendment is annual period beginning on or after January 1, 2019, although early application is permitted. The Group does not have any impact on account of the amendment. Amendment to IFRS 3 Business Combinations - On October 22, 2018, the IASB issued amendments to the definition of a business in IFRS 3 Business Combinations. The amendments clarify the definition of a business, with the objective of assisting entities to determine whether a transaction should be accounted for as a business combination or as an asset acquisition. The amendment also introduces an optional concentration test that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The effective date for adoption of this amendment is annual periods beginning on or after January 1, 2020, although early adoption is permitted. The Group is currently evaluating the effect of this amendment on the consolidated financial statements. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Mar. 31, 2019 | |
Cash And Cash Equivalents [Abstract] | |
Cash and cash equivalents | 2.1 Cash and cash equivalents Cash and cash equivalents consist of the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Cash and bank deposits 2,052 2,021 Deposits with financial institutions 777 1,020 2,829 3,041 Cash and cash equivalents included under assets classified as held for sale (Refer note no 2.9) — 8 2,829 3,049 Cash and cash equivalents as of March 31, 2019 and March 31, 2018 include restricted cash and bank balances of $52 million and $82 million, respectively. The restrictions are primarily on account of bank balances held by irrevocable trusts controlled by the company and bank balances held as margin money deposits against guarantees. The deposits maintained by the Group with banks and financial institution comprise of time deposits, which can be withdrawn by the Group at any point without prior notice or penalty on the principal. Refer note 2.3 for accounting policies on financial instruments. The table below provides details of cash and cash equivalents: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current accounts ANZ Bank, Taiwan — 1 Axis Bank - Unpaid dividend account 1 — Banamex Bank, Mexico (U.S. Dollar account) 4 2 Banamex Bank, Mexico 1 — Bank of America, USA 168 180 Bank of America, Mexico 15 4 Bank of Leumni , Israel 1 — Bank of Zachodni WBK S.A., Poland — 3 Barclays Bank, UK 6 6 BNP Paribas Bank, Norway 4 14 China Merchants Bank, China — 1 Citibank N.A., Australia 13 34 Citibank N.A., Brazil 5 2 Citibank N.A., China 10 18 Citibank N.A., China (U.S. Dollar account) 2 1 Citibank N.A., Dubai 2 1 Citibank N.A., EEFC (U.S. Dollar account) — 1 Citibank N.A., Hungary — 1 Citibank N.A., Japan 3 3 Citibank N.A., New Zealand — 2 Citibank N.A., Portugal 1 1 Citibank N.A., Singapore 11 1 Citibank N.A., South Africa 3 5 Citibank N.A., USA 1 1 Citibank N.A., South Korea 2 — Citibank N.A., Luxembourg 1 — Deutsche Bank, Belgium 2 4 Deutsche Bank, Malaysia — 1 Deutsche Bank, Czech Republic 3 2 Deutsche Bank, Czech Republic (Euro account) 1 1 Deutsche Bank, Czech Republic (U.S. dollar account) 3 — Deutsche Bank, France 3 3 Deutsche Bank, Germany 16 16 Deutsche Bank, India 6 7 Deutsche Bank, Netherlands 5 2 Deutsche Bank, Philippines 1 4 Deutsche Bank, Philippines (U.S. dollar account) — 1 Deutsche Bank, Poland (PLN account) 4 3 Deutsche Bank, Poland (Euro account) 1 1 Deutsche Bank, Russia 1 1 Deutsche Bank, Russia (U.S. dollar account) — 1 Deutsche Bank, Singapore 2 3 Deutsche Bank, Switzerland 5 5 Deutsche Bank, United Kingdom 6 12 Deutsche Bank-EEFC (Euro account) 3 5 Deutsche Bank, EEFC (Swiss Franc account) 1 — Deutsche Bank-EEFC (U.S. dollar account) 31 5 Deutsche Bank-EEFC, India (United Kingdom Pound Sterling account) 1 1 Deutsche Bank, USA 9 — ICICI Bank, India 6 8 ICICI Bank-EEFC, India (U.S. dollar account) 5 6 ICICI Bank-EEFC, (United Kingdom pound sterling account) 1 2 ICICI Bank, EEFC (Euro account) 1 — HSBC Bank, United Kingdom 3 1 HSBC Bank, India 1 — Kotak Bank 1 — ICICI Bank - Unpaid dividend account 4 3 Nordea 3 — Nordbanken, Sweden 7 8 Raiffeisen Bank, Czech Republic — 1 Royal Bank of Canada, Canada 20 26 Punjab National Bank, India — 2 Silicon Valley Bank, USA 2 — Splitska Banka D.D., Societe Generale Group, Croatia 2 1 Washington Trust Bank 7 — 421 418 Deposit accounts Axis Bank 134 — Bank BGZ BNP Paribas S.A 34 22 Barclays Bank 72 31 Canara Bank, India 19 36 Citibank 26 35 Deutsche Bank, AG — 4 Deutsche Bank, Poland 18 32 HDFC Bank 7 383 HSBC Bank 29 — ICICI Bank 469 568 IDBI Bank — 38 IDFC Bank 354 230 Indusind Bank 80 154 Kotak Mahindra Bank 72 — South Indian Bank 25 69 Standard Chartered Bank 289 — Washington trust bank 3 — Yes Bank — 1 1,631 1,603 Deposits with financial institution HDFC Limited, India 600 836 LIC Housing Finance Limited 177 184 777 1,020 Total 2,829 3,041 |
Investments
Investments | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Abstract] | |
Investments | 2.2 Investments The carrying value of investments are as follows: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current investments Amortized cost: Quoted debt securities Cost 3 — Fair value through profit and loss: Liquid mutual funds Fair value 258 12 Fair Value through Other comprehensive income: Quoted debt securities Fair value 267 117 Commercial paper Fair value 72 45 Certificates of deposit Fair value 358 808 958 982 Non-Current investments Amortized cost: Quoted debt securities Cost 274 291 Fair value through Other comprehensive income: Quoted debt securities Fair value 310 493 Unquoted equity and preference securities Fair value 15 21 Fair value through profit and loss: Unquoted convertible promissory note Fair value — 2 Fixed maturity plan securities Fair value 66 66 Unquoted Preference securities Fair value 3 — Others: Fair value 2 10 670 883 Total Investments 1,628 1,865 Investment carried at amortized cost 277 291 Investments carried at fair value through other comprehensive income 1,022 1,484 Investments carried at fair value through profit and loss 329 90 Note: Uncalled capital commitments outstanding as of March 31, 2019 and March 31, 2018 was $12 million and $12 million, respectively. Refer note 2.3 for accounting policies on financial instruments. Details of amounts recorded in other comprehensive income: (Dollars in millions) Net gain / (loss) on Year ended March 31, 2019 Gross Tax Net Quoted debt securities 1 — 1 Certificate of deposits (1 ) — (1 ) Unquoted equity and preference securities 9 1 10 Net gain / (loss) on Year ended March 31, 2018 Gross Tax Net Quoted debt securities (2 ) — (2 ) Certificate of deposits 3 (1 ) 2 Unquoted equity and preference securities 1 — 1 Net gain / (loss) on Year ended March 31, 2017 Gross Tax Net Quoted debt securities (1 ) — (1 ) Certificate of deposits (1 ) — (1 ) Unquoted equity and preference securities (1 ) — (1 ) Method of fair valuation: (Dollars in millions) Fair value As at March 31 Class of investment Method 2019 2018 Liquid mutual funds Quoted price 258 12 Fixed Maturity Plan securities Market observable inputs 66 66 Quoted debt securities- carried at amortized cost Quoted price and market observable inputs 307 330 Quoted debt securities- carried at Fair value through other comprehensive income Quoted price and market observable inputs 577 610 Commercial paper Market observable inputs 72 45 Certificate of deposits Market observable inputs 358 808 Unquoted equity and preference securities at fair value through other comprehensive income Discounted cash flows method, Market multiples method, Option pricing model, etc 15 21 Unquoted equity and preference securities- carried at fair value through profit or loss Discounted cash flows method, Market multiples method, Option pricing model, etc 3 — Unquoted convertible promissory note Discounted cash flows method, Market multiples method, Option pricing model, etc — 2 Others Discounted cash flows method, Market multiples method, Option pricing model, etc 2 10 1,658 1,904 Note: Certain quoted investments are classified as Level 2 in the absence of active market for such investments. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial Instruments | 2.3 Financial instruments Accounting policy Effective April 1, 2016, the group has elected to early adopt IFRS 9 - Financial Instruments considering April 1, 2015 as the date of initial application of the standard even though the stipulated effective date for adoption is April 1, 2018. The group has classified its financial assets into the following categories based on the business model for managing those assets and the contractual cash flow characteristics: • Financial assets carried at amortized cost • Financial assets fair valued through other comprehensive income • Financial assets fair valued through profit and loss The adoption of IFRS 9 did not have any other material impact on the consolidated financial statements, hence prior period figures have not been restated and the cumulative impact of $5 million has been recorded in other comprehensive income for fiscal 2017. 2.3.1 Initial recognition The group recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to the fair value on initial recognition. Regular way purchase and sale of financial assets are accounted for at trade date. 2.3.2 Subsequent measurement a. Non-derivative financial instruments (i) Financial assets carried at amortized cost A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. (ii) Financial assets at fair value through other comprehensive income (FVOCI) A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Group has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model. (iii) Financial assets at fair value through profit or loss (FVTPL) A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss. (iv) Financial liabilities Financial liabilities are subsequently carried at amortized cost using the effective interest method, except for contingent consideration recognized in a business combination which is subsequently measured at fair value through profit or loss. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments. b. Derivative financial instruments The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a bank. (i) Financial assets or financial liabilities, at fair value through profit or loss This category includes derivative financial assets or liabilities which are not designated as hedges. Although the group believes that these derivatives constitute hedges from an economic perspective, they may not qualify for hedge accounting under IFRS 9, Financial Instruments. Any derivative that is either not designated a hedge, or is so designated but is ineffective as per IFRS 9, is categorized as a financial asset or financial liability, at fair value through profit or loss. Derivatives not designated as hedges are recognized initially at fair value and attributable transaction costs are recognized in the statement of comprehensive income when incurred. Subsequent to initial recognition, these derivatives are measured at fair value through profit or loss and the resulting exchange gains or losses are included in other income. Assets/ liabilities in this category are presented as current assets/current liabilities if they are either held for trading or are expected to be realized within 12 months after the balance sheet date. (ii) Cash flow hedge The group designates certain foreign exchange forward and options contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast cash transactions. When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and accumulated in the cash flow hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in the net profit in the statement of comprehensive income. If the hedging instrument no longer meets the criteria for hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the forecasted transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging reserve is transferred to the net profit in the statement of comprehensive income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, then the amount accumulated in cash flow hedging reserve is reclassified to the net profit in the statement of comprehensive income. 2.3.3 Derecognition of financial instruments The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IFRS 9. A financial liability (or a part of a financial liability) is derecognized from the group's balance sheet when the obligation specified in the contract is discharged or cancelled or expires. 2.3.4 Fair value of financial instruments In determining the fair value of its financial instruments, the Group uses a variety of methods and assumptions that are based on market conditions and risks existing at each reporting date. The methods used to determine fair value include discounted cash flow analysis, available quoted market prices and dealer quotes. All methods of assessing fair value result in general approximation of value, and such value may never actually be realized. Refer to table ‘Financial instruments by category’ below for the disclosure on carrying value and fair value of financial assets and liabilities. For financial assets and liabilities maturing within one year from the balance sheet date and which are not carried at fair value, the carrying amounts approximate fair value due to the short maturity of these instruments. 2.3.5 Impairment The Group recognizes loss allowances using the expected credit loss (ECL) model for the financial assets and unbilled revenue which are not fair valued through profit or loss. Loss allowance for trade receivables and unbilled revenue with no significant financing component is measured at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an impairment gain or loss in statement of comprehensive income. Financial instruments by category The carrying value and fair value of financial instruments by categories as of March 31, 2019 were as follows: (Dollars in millions) Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Amortised cost Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Total carrying value Total fair value Assets: Cash and cash equivalents (Refer to Note 2.1) 2,829 — — — — 2,829 2,829 Investments (Refer Note 2.2) Liquid mutual funds — — 258 — — 258 258 Fixed maturity plan securities — — 66 — — 66 66 Quoted debt securities 277 — — — 577 854 884 (1) Certificates of deposit — — — — 358 358 358 Commercial paper — — — — 72 72 72 Unquoted equity and preference securities — — 3 15 — 18 18 Unquoted investments others — — 2 — — 2 2 Trade receivables 2,144 — — — — 2,144 2,144 Unbilled revenues (3) 303 — — — — 303 303 Prepayments and other assets (Refer to Note 2.4) 529 — — — — 529 517 (2) Derivative financial instruments — — 43 — 5 48 48 Total 6,082 — 372 15 1,012 7,481 7,499 Liabilities: Trade payables 239 — — — — 239 239 Derivative financial instruments — — 2 — — 2 2 Other liabilities including contingent consideration (Refer note 2.5) 1,263 — 27 — — 1,290 1,290 Total 1,502 — 29 — — 1,531 1,531 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost of $12 million. (3) Excludes unbilled revenue for fixed price development contracts where right to consideration is conditional on factors other than passage of time. The carrying value and fair value of financial instruments by categories as of March 31, 2018 were as follows: (Dollars in millions) Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Amortised cost Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Total carrying value Total fair value Assets: Cash and cash equivalents (Refer to Note 2.1) 3,041 — — — — 3,041 3,041 Investments (Refer Note 2.2) Liquid mutual funds — — 12 — — 12 12 Fixed maturity plan securities — — 66 — — 66 66 Quoted debt securities 291 — — — 610 901 940 (1) Certificates of deposit — — — — 808 808 808 Commercial Paper — — — — 45 45 45 Unquoted equity and preference securities: — — — 21 — 21 21 Unquoted investments others — — 10 — — 10 10 Unquoted convertible promissory note: — — 2 — — 2 2 Trade receivables 2,016 — — — — 2,016 2,016 Unbilled revenues 654 — — — — 654 654 Prepayments and other assets (Refer to Note 2.4) 456 — — — — 456 443 (2) Derivative financial instruments — — — — 2 2 2 Total 6,458 — 90 21 1,465 8,034 8,060 Liabilities: Trade payables 107 — — — — 107 107 Derivative financial instruments — — 6 — — 6 6 Other liabilities including contingent consideration (Refer note 2.5) 836 — 8 — — 844 844 Total 943 — 14 — — 957 957 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost of $13 million. Fair value hierarchy Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). Fair value hierarchy of assets and liabilities as of March 31, 2019: (Dollars in millions) As of March 31, 2019 Fair value measurement at end of the reporting year using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 258 258 — — Investments in fixed maturity plan securities (Refer Note 2.2) 66 — 66 — Investments in quoted debt securities (Refer to Note 2.2) 884 630 254 — Investments in certificate of deposit (Refer Note 2.2) 358 — 358 — Investments in commercial paper (Refer Note 2.2) 72 — 72 — Investments in unquoted equity and preference securities (Refer to Note 2.2) 18 — — 18 Investment in unquoted investments others (Refer Note 2.2) 2 — — 2 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 48 — 48 — Liabilities Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts 2 — 2 — Liability towards contingent consideration (Refer note 2.5)* 27 — — 27 * Discount rate pertaining to contingent consideration ranges from During fiscal 2019, quoted debt securities of $108 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $49 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. Fair value hierarchy of assets and liabilities as of March 31, 2018: (Dollars in millions) Particulars As of March 31, 2018 Fair value measurement at end of the reporting period using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 12 12 — — Investments in fixed maturity plan securities (Refer Note 2.2) 66 — 66 — Investments in quoted debt securities (Refer to Note 2.2) 940 701 239 — Investments in certificate of deposit (Refer Note 2.2) 808 — 808 — Investments in commercial paper (Refer Note 2.2) 45 — 45 — Investments in unqouted equity and preference securities (Refer to Note 2.2) 21 — — 21 Investment in unquoted investments others (Refer Note 2.2) 10 — — 10 Investments in unqouted convertible promissory note (Refer to Note 2.2) 2 — — 2 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 2 — 2 — Liabilities Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts 6 — 6 — Liability towards contingent consideration (Refer note 2.5)* 8 — — 8 * Discounted contingent consideration at 10%. During fiscal 2018, quoted debt securities of $130 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $276 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. A one percentage point change in the unobservable inputs used in fair valuation of Level 3 assets and liabilities does not have a significant impact in its value. Income from financial assets (Dollars in millions) Year ended March 31, 2019 2018 2017 Interest income on financial assets carried at amortized cost 201 260 352 Interest income on financial assets fair valued through other comprehensive income 92 106 28 Dividend income on investments carried at fair value through profit or loss — 1 4 Gain / (loss) on investments carried at fair value through profit or loss 24 39 18 317 406 402 Financial risk management Financial risk factors The Group's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The Group's primary focus is to foresee the unpredictability of financial markets and seek to minimize potential adverse effects on its financial performance. The primary market risk to the Group is foreign exchange risk. The Group uses derivative financial instruments to mitigate foreign exchange related risk exposures. The Group's exposure to credit risk is influenced mainly by the individual characteristic of each customer and the concentration of risk from the top few customers. Market risk The Group operates internationally and a major portion of the business is transacted in several currencies and consequently the Group is exposed to foreign exchange risk through its sales and services in the United States and elsewhere, and purchases from overseas suppliers in various foreign currencies. The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The exchange rate between the Indian rupee and foreign currencies has changed substantially in recent years and may fluctuate substantially in the future. Consequently, the results of the Group’s operations are adversely affected as the rupee appreciates/ depreciates against these currencies. The following table analyzes foreign currency risk from monetary assets and liabilities as of March 31, 2019: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 237 38 16 31 161 483 Trade receivables 1,438 267 148 76 140 2,069 Unbilled revenues 540 111 36 40 63 790 Other assets 66 15 5 5 45 136 Trade payables (102 ) (19 ) (20 ) (12 ) (15 ) (168 ) Employee benefit obligations (98 ) (15 ) (3 ) (30 ) (24 ) (170 ) Other liabilities (509 ) (66 ) (28 ) (25 ) (86 ) (714 ) Net assets / (liabilities) 1,572 331 154 85 284 2,426 The following table analyzes foreign currency risk from monetary assets and liabilities as of March 31, 2018: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 197 33 23 54 183 490 Trade receivables 1,276 269 129 121 120 1,915 Unbilled revenues 356 98 46 24 57 581 Other assets 49 4 4 2 15 74 Trade payables (42 ) (12 ) (17 ) (5 ) (9 ) (85 ) Employee benefit obligations (88 ) (13 ) (4 ) (28 ) (20 ) (153 ) Other liabilities (263 ) (50 ) (29 ) (14 ) (72 ) (428 ) Net assets / (liabilities) 1,485 329 152 154 274 2,394 For the years ended March 31, 2019, 2018 and 2017, every percentage point depreciation / appreciation in the exchange rate between the Indian rupee and the U.S. dollar has affected the company's incremental operating margins by approximately 0.47%, 0.50% and 0.50%, respectively. Sensitivity analysis is computed based on the changes in the income and expenses in foreign currency upon conversion into functional currency, due to exchange rate fluctuations between the previous reporting period and the current reporting period. Derivative financial instruments The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a bank. These derivative financial instruments are valued based on quoted prices for similar assets and liabilities in active markets or inputs that are directly or indirectly observable in the marketplace. The following table gives details in respect of outstanding foreign exchange forward and options contracts: (In millions) As of March 31, 2019 March 31, 2018 Derivatives designated as cash flow hedges Option Contracts In Australian dollars 120 60 In Euro 135 100 In United Kingdom Pound Sterling 25 20 Other derivatives Forward contracts In Australian dollars 8 5 In Canadian dollars 13 20 In Euro 176 91 In Japanese Yen 550 550 In New Zealand dollars 16 16 In Norwegian Krone 40 40 In Singapore dollars 140 5 In South African Rand — 25 In Swedish Krona 50 50 In Swiss Franc 25 21 In U.S. Dollars 955 623 In United Kingdom Pound Sterling 80 51 Option contracts In Australian dollars 10 20 In Canadian dollars 13 — In Euro 60 45 In Swiss Franc 5 5 In U.S. Dollars 433 320 In United Kingdom Pound Sterling 10 25 The Group recognized a net gain of $35 million, less than $1 million and $89 million on derivative financial instruments not designated as cash flow hedges for fiscal 2019, 2018 and 2017, respectively, which are included under other income. The foreign exchange forward and option contracts mature within 12 months. The table below analyzes the derivative financial instruments into relevant maturity groupings based on the remaining period as of the balance sheet date: (Dollars in millions) As of March 31, 2019 March 31, 2018 Not later than one month 640 434 Later than one month and not later than three months 1,001 701 Later than three months and not later than one year 591 378 2,232 1,513 During fiscal 2019 and 2018, the Group has designated certain foreign exchange forward and option contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast cash transactions. The related hedge transactions for balance in cash flow hedging reserve as of March 31, 2019 are expected to occur and reclassified to statement of comprehensive income within 3 months. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument, including whether the hedging instrument is expected to offset changes in cash flows of hedged items. If the hedge ratio for risk management purposes is no longer optimal but the risk management objective remains unchanged and the hedge continues to qualify for hedge accounting, the hedge relationship will be rebalanced by adjusting either the volume of the hedging instrument or the volume of the hedged item so that the hedge ratio aligns with the ratio used for risk management purposes. Any hedge ineffectiveness is calculated and accounted for in profit or loss at the time of the hedge relationship rebalancing. The following table provides the reconciliation of cash flow hedge reserve: (Dollars in millions) Year ended March 31, 2019 Year ended March 31, 2018 Gain / (Loss) Balance at the beginning of the period — 6 Gain / (Loss) recognized in other comprehensive income during the period 17 (14 ) Amount reclassified to profit or loss during the period (13 ) 6 Tax impact on above (1 ) 2 Balance at the end of the period 3 — The Group offsets a financial asset and a financial liability when it currently has a legally enforceable right to set off the recognized amounts and the group intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. The following table provides quantitative information about offsetting of derivative financial assets and derivative financial liabilities: (Dollars in millions) As of As of March 31, 2019 March 31, 2018 Derivative financial asset Derivative financial liability Derivative financial asset Derivative financial liability Gross amount of recognized financial asset/liability 48 (2 ) 3 (7 ) Amount set off — — (1 ) 1 Net amount presented in balance sheet 48 (2 ) 2 (6 ) Credit risk Credit risk refers to the risk of default on its obligation by the counterparty resulting in a financial loss. The maximum exposure to the credit risk at the reporting date is primarily from trade receivables amounting to $2,144 million and $2,016 million as of March 31, 2019 and March 31, 2018, respectively and unbilled revenue amounting to $777 million and $654 million as of March 31, 2019 and March 31, 2018, respectively. Trade receivables and unbilled revenue are typically unsecured and are derived from revenue earned from customers primarily located in the United States. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Group grants credit terms in the normal course of business. The Group uses expected credit loss model to assess the impairment loss or gain. The group uses a provision matrix to compute the expected credit loss allowance for trade receivables and unbilled revenues. The provision matrix takes into account available external and internal credit risk factors such as credit default swap quotes, credit ratings from international credit rating agencies and the Group's historical experience for customers. The following table gives details in respect of percentage of revenues generated from top customer and top ten customers: (In %) Year ended March 31, 2019 2018 2017 Revenue from top customer 3.6 3.4 3.4 Revenue from top ten customers 19.0 19.3 21.0 Credit risk exposure The allowance for lifetime expected credit loss on customer balances was $34 million, $5 million and $20 million for fiscal 2019, 2018 and 2017, respectively. Movement in credit loss allowance (Dollars in millions) Year ended March 31, 2019 2018 2017 Balance at the beginning 69 63 44 Translation differences (2 ) 2 (1 ) Impairment loss recognized/(reversed) 34 5 20 Write offs (10 ) (1 ) — Balance at the end 91 69 63 The Group’s credit period generally ranges from 30-60 days. Credit exposure (Dollars in millions ) As of March 31, 2019 March 31, 2018 Trade receivables 2,144 2,016 Unbilled revenues 777 654 Days Sales Outstanding (DSO) as of March 31, 2019 and March 31, 2018 was 66 days and 67 days respectively. Credit risk on cash and cash equivalents is limited as we generally invest in deposits with banks and financial institutions with high credit ratings assigned by international and domestic credit rating agencies. Investments primarily include investment in liquid mutual fund units, fixed maturity plans, quoted bonds issued by government and quasi government organizations, non-convertible debentures, certificates of deposit, commercial papers and government securities. Liquidity risk The Group's principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The Group has no outstanding borrowings. The Group believes that the working capital is sufficient to meet its current requirements. As of March 31, 2019, the Group had a working capital of $4,951 million including cash and cash equivalents of $2,829 million and current investments of $958 million. As of March 31, 2018, the Group had a working capital of $5,243 million including cash and cash equivalents of $3,041 million and current investments of $982 million. As of March 31, 2019 and March 31, 2018, the outstanding employee benefit obligations were $240 million and $225 million, respectively, which have been substantially funded. Accordingly, no liquidity risk is perceived. Under the Company’s buyback program initiated in March 2019, the maximum buyback size is ` ` The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2019: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 239 — — — 239 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 1,260 2 1 — 1,263 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 17 12 — 5 34 The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2018: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 107 — — — 107 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 836 — — — 836 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 6 1 1 — 8 |
Prepayments and Other Assets
Prepayments and Other Assets | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Financial Instruments [Abstract] | |
Prepayments and other assets | 2.4 Prepayments and other assets Prepayments and other assets consist of the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current Rental deposits 2 2 Security deposits 1 1 Loans to employees 35 37 Prepaid expenses (1) 108 72 Interest accrued and not due 131 117 Withholding taxes and others (1) 215 158 Advance payments to vendors for supply of goods (1) 16 18 Deposit with corporation 242 236 Escrow and other deposits pertaining to buyback (Refer to Note No 2.13) 37 — Deferred contract cost (1) 8 7 Other assets 32 14 827 662 Non-current Loans to employees 3 6 Security deposits 8 8 Deposits with corporation 10 9 Prepaid gratuity (Refer note 2.12.1) (1) 6 7 Prepaid expenses (1) 23 17 Deferred contract cost (1) 40 40 Advance towards purchase of business (1) 30 — Withholding taxes and others (1) 134 219 Rental deposits 28 26 282 332 1109 994 Financial assets in prepayments and other assets 529 456 (1) Withholding taxes and others primarily consist of input tax credits and Cenvat recoverable from Government of India. Cenvat recoverable includes $76 million which are pending adjudication. The Group expects these amount to be sustainable on adjudication and recoverable on final resolution. Security deposits relate principally to leased telephone lines and electricity supplies. Deferred contract costs are upfront costs incurred for the contract and are amortized over the term of the contract. Deposit with corporation represents amounts deposited to settle certain employee-related obligations as and when they arise during the normal course of business. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Other Liabilities [Abstract] | |
Other Liabilities | 2.5 Other liabilities Other liabilities comprise the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current Accrued compensation to employees 372 385 Accrued expenses 480 376 Withholding taxes and others (1) 215 190 Retention money 16 20 Liabilities of controlled trusts 24 21 Liability towards contingent consideration (Refer note 2.9) 14 6 Financial liability on account of buyback (2) 174 — Deferred rent (1) 9 4 Capital creditors 98 24 Others 96 10 1,498 1,036 Non-current Liability towards contingent consideration (Refer note 2.9) 13 2 Accrued compensation to employees 3 — Accrued gratuity (Refer note 2.12.1) (1) 4 4 Deferred income - government grant on land use rights (1) 6 7 Deferred income (1) 4 5 Deferred rent (1) 25 24 55 42 1,553 1,078 Financial liabilities included in other liabilities 1,290 844 Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) 34 8 (1) (2) In accordance with IAS 32 Financial Instruments: Presentation, the Company has recorded a financial liability of $174 million for the obligation to acquire its own equity shares to the extent of standing instructions provided to its registered broker for the buyback as of March 31, 2019 (refer to note 2.13). The financial liability is recognised at the present value of the maximum amount that the Company would be required to pay to the registered broker for buy back, with a corresponding debit in general reserve / retained earnings . Accrued expenses primarily relate to cost of technical sub-contractors, telecommunication charges, legal and professional charges, brand building expenses, overseas travel expenses and office maintenance. |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Other Provisions [Abstract] | |
Provisions | 2.6 Provisions Accounting policy a. Provisions A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. b . Post sales client support The Group provides its clients with a fixed-period post-sales support on all its fixed-price, fixed-timeframe contracts. Costs associated with such support services are accrued at the time related revenues are recorded and included in cost of sales. The group estimates such costs based on historical experience and estimates are reviewed on a periodic basis for any material changes in assumptions and likelihood of occurrence. c. Onerous contracts Provisions for onerous contracts are recognized when the expected benefits to be derived by the Group from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established the Group recognizes any impairment loss on the assets associated with that contract. Provisions comprise the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Provision for post sales client support and other provisions 83 75 83 75 Provision for post sales client support and other provisions represents costs associated with providing sales support services which are accrued at the time of recognition of revenues and are expected to be utilized over a period of 6 months to 1 year. The movement in the provision for post sales client support and other provisions is as follows: (Dollars in millions) Year ended March 31, 2019 Balance at the beginning 75 Translation differences — Provision recognized / (reversed) 24 Provision utilized (16 ) Balance at the end 83 Provision for post sales client support and other provisions is included in cost of sales in the consolidated statement of comprehensive income. As of March 31, 2019 and March 31, 2018, claims against the Group, not acknowledged as debts, net of amounts paid (excluding demands from income tax authorities- Refer to Note 2.17) amounted to $33 million ( ₹ ₹ |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property, plant and equipment | 2.7 Property, plant and equipment Accounting policy Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as intended by management. The group depreciates property, plant and equipment over their estimated useful lives using the straight-line method. The estimated useful lives of assets are as follows: Buildings 22 - 25 years Plant and machinery (1) 5 years Computer equipment 3-5 years Furniture and fixtures 5 years Vehicles 5 years Leasehold improvements Over lease term (1) Includes solar plant with a useful life of 20 years. Depreciation methods, useful lives and residual values are reviewed periodically, including at each financial year end. Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date and the cost of assets not ready to use before such date are disclosed under ‘Capital work-in-progress’. Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Group and the cost of the item can be measured reliably. Repairs and maintenance costs are recognized in the statement of comprehensive income when incurred. The cost and related accumulated depreciation are eliminated from the financial statements upon sale or retirement of the asset and the resultant gains or losses are recognized in the net profit in the statement of comprehensive income. Impairment Property, plant and equipment are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the net profit in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the net profit in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated depreciation) had no impairment loss been recognized for the asset in prior years. Following are the changes in the carrying value of property, plant and equipment for fiscal 2019: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2018 292 1,247 518 749 285 5 3,096 Additions 8 132 98 173 58 1 470 Additions- Business Combinations (Refer note 2.9) — — 1 4 2 — 7 Deletions (7 ) (17 ) (15 ) (35 ) (9 ) — (83 ) Reclassified from assets held for sale (refer note 2.9) — — — 6 4 — 10 Translation difference (17 ) (71 ) (30 ) (42 ) (17 ) (1 ) (178 ) Gross carrying value as of March 31, 2019 276 1,291 572 855 323 5 3,322 Accumulated depreciation as of April 1, 2018 (5 ) (417 ) (359 ) (557 ) (203 ) (3 ) (1,544 ) Depreciation (1 ) (45 ) (62 ) (109 ) (37 ) (1 ) (255 ) Accumulated depreciation on deletions — 15 12 23 6 — 56 Reclassified from assets held for sale (refer note 2.9) — — — (4 ) (3 ) — (7 ) Translation difference 1 24 19 31 12 1 88 Accumulated depreciation as of March 31, 2019 (5 ) (423 ) (390 ) (616 ) (225 ) (3 ) (1,662 ) Capital work-in-progress as of March 31, 2019 271 Carrying value as of March 31, 2019 271 868 182 239 98 2 1,931 Capital work-in-progress as of April 1, 2018 311 Carrying value as of April 1, 2018 287 830 159 192 82 2 1,863 Following are the changes in the carrying value of property, plant and equipment for fiscal 2018: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2017 272 1,123 466 700 261 5 2,827 Additions 21 122 56 73 29 1 302 Deletions — — (3 ) (17 ) (3 ) (1 ) (24 ) Reclassified under held for sale (refer note 2.9) — — — (6 ) (4 ) — (10 ) Translation difference (1 ) 2 (1 ) (1 ) 2 — 1 Gross carrying value as of March 31, 2018 292 1,247 518 749 285 5 3,096 Accumulated depreciation as of April 1, 2017 (4 ) (376 ) (301 ) (471 ) (168 ) (3 ) (1,323 ) Depreciation (1 ) (43 ) (62 ) (107 ) (40 ) (1 ) (254 ) Accumulated depreciation on deletions — — 2 17 3 1 23 Reclassified under held for sale (refer note 2.9) — — — 4 3 — 7 Translation difference — 2 2 — (1 ) — 3 Accumulated depreciation as of March 31, 2018 (5 ) (417 ) (359 ) (557 ) (203 ) (3 ) (1,544 ) Capital work-in-progress as of March 31, 2018 311 Carrying value as of March 31, 2018 287 830 159 192 82 2 1,863 Capital work-in-progress as of April 1, 2017 303 Carrying value as of April 1, 2017 268 747 165 229 93 2 1,807 Following are the changes in the carrying value of property, plant and equipment for fiscal 2017: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2016 244 955 392 615 218 4 2,428 Additions 22 147 73 120 57 1 420 Deletions — — (8 ) (47 ) (17 ) (1 ) (73 ) Translation difference 6 21 9 12 3 1 52 Gross carrying value as of March 31, 2017 272 1,123 466 700 261 5 2,827 Accumulated depreciation as of April 1, 2016 (3 ) (332 ) (243 ) (395 ) (149 ) (3 ) (1,125 ) Depreciation (1 ) (35 ) (57 ) (101 ) (31 ) (1 ) (226 ) Accumulated depreciation on deletions — — 5 34 14 1 54 Translation difference — (9 ) (6 ) (9 ) (2 ) — (26 ) Accumulated depreciation as of March 31, 2017 (4 ) (376 ) (301 ) (471 ) (168 ) (3 ) (1,323 ) Capital work-in-progress as of March 31, 2017 303 Carrying value as of March 31, 2017 268 747 165 229 93 2 1,807 Capital work-in-progress as of April 1, 2016 286 Carrying value as of April 1, 2016 241 623 149 220 69 1 1,589 The aggregate depreciation expense is included in cost of sales in the statement of comprehensive income. Carrying value of land includes $83 million and $98 million as of March 31, 2019 and March 31, 2018, respectively, towards amounts paid under certain lease-cum-sale agreements to acquire land, including agreements where the company has an option to either purchase the properties or renew the lease on expiry of the lease period. The contractual commitments for capital expenditure were $249 million and $223 million as of March 31, 2019 and March 31, 2018, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Mar. 31, 2019 | |
Intangible Assets And Goodwill [Abstract] | |
Goodwill and Intangible Assets | 2.8 Goodwill and intangible assets 2.8.1 Goodwill Accounting policy Goodwill represents the purchase consideration in excess of the Group's interest in the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. When the net fair value of the identifiable assets, liabilities and contingent liabilities acquired exceeds the purchase consideration, a gain is recognized immediately in the net profit in the statement of comprehensive income. Goodwill is measured at cost less accumulated impairment losses. Impairment Goodwill is tested for impairment on an annual basis and whenever there is an indication that goodwill may be impaired, relying on a number of factors including operating results, business plans and future cash flows. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the Group's cash generating units (CGU) or groups of CGU’s expected to benefit from the synergies arising from the business combination. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. Impairment occurs when the carrying amount of a CGU including the goodwill, exceeds the estimated recoverable amount of the CGU. The recoverable amount of a CGU is the higher of its fair value less cost to sell and its value-in-use. Value-in-use is the present value of future cash flows expected to be derived from the CGU. Total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognized in the net profit in the statement of comprehensive income and is not reversed in the subsequent period. Following is a summary of changes in the carrying amount of goodwill: (Dollars in millions) As of March 31, 2019 March 31, 2018 Carrying value at the beginning 339 563 Goodwill on Brilliant Basics acquisition (Refer to note 2.9) — 5 Goodwill on Wongdoody acquisition (Refer to note 2.9) 25 — Goodwill on Fluido acquisition (Refer to note 2.9) 32 — Goodwill reclassified (to)/from assets held for sale, net of reduction (Refer note no 2.9) 138 (247 ) Translation differences (22 ) 18 Carrying value at the end 512 339 For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the cash generating units (CGU) or groups of CGUs, which are benefited from the synergies of the acquisition. The Chief Operating Decision Maker reviews the goodwill for any impairment at the operating segment level, which is represented through groups of CGUs. During the three months ended June 30, 2018, the Group internally reorganized some of its business segments to deepen customer relationships, improve focus of sales investments and increase management oversight. Consequent to the internal reorganization, there were changes in the reportable business segments based on “Management approach” as defined under IFRS 8, Operating Segments (Refer Note 2.20). Accordingly, the goodwill has been allocated to the new operating segments as at March 31, 2019. The following table presents the allocation of goodwill to operating segments as at March 31, 2019 (Dollars in millions) As of March 31, Segments 2019 Financial services 108 Retail 63 Communication 56 Energy, utilities, Resources and Services 54 Manufacturing 34 315 Operating segments without significant goodwill 61 Total 376 Consequent to reclassification from held for sale (refer note no. 2.9) the goodwill pertaining to Kallidus and Skava (together called as Skava) and Panaya acquisitions are tested for impairment at the respective entity Level which amounts to $136 million as of March 31, 2019. The following table presents the allocation of goodwill to operating segments (prior to reorganization) as at March 31, 2018: (Dollars in millions) As of March 31, Segments 2018 Financial services 73 Manufacturing 39 Retail, Consumer packaged goods and Logistics 48 Life Sciences, Healthcare and Insurance 68 Energy & utilities, Communication and Services 72 300 Operating segments without significant goodwill 39 Total 339 The recoverable amount of a CGU is the higher of its fair value less cost to sell and its value-in-use. The fair value of a CGU is determined based on the market capitalization. The value-in-use calculations use cash flow projections over a period of five years. An average of the range of each assumption used is mentioned below. As at March 31, 2019 and March 31, 2018, the estimated recoverable amount of the CGU exceeded its carrying amount. The key assumptions used for the calculations are as follows: (in %) March 31, 2019 March 31, 2018 Long term growth rate 8-10 8-10 Operating margins 17-20 17-20 Discount rate 12.5 13.5 The above discount rate is based on the Weighted Average Cost of Capital (WACC) of the Company. 2.8.2 Intangible assets Accounting policy Intangible assets are stated at cost less accumulated amortization and impairment. Intangible assets are amortized over their respective individual estimated useful lives on a straight-line basis, from the date that they are available for use. The estimated useful life of an identifiable intangible asset is based on a number of factors including the effects of obsolescence, demand, competition, and other economic factors (such as the stability of the industry, and known technological advances. Amortization methods and useful lives are reviewed periodically including at each financial year end. Research costs are expensed as incurred. Software product development costs are expensed as incurred unless technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Company has an intention and ability to complete and use or sell the software and the costs can be measured reliably. The costs which can be capitalized include the cost of material, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use. Impairment Intangible assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the net profit in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the net profit in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization) had no impairment loss been recognized for the asset in prior years. Following are the changes in the carrying value of acquired intangible assets for fiscal 2019: (Dollars in millions) Customer related Software related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2018 68 3 11 4 4 90 Additions during the period — 1 — — — 1 Acquisition through business combination (Refer note no. 2.9) 47 — — 5 9 61 Reclassified under assets held for sale (Refer note no. 2.9) 24 60 — 6 — 90 Translation differences (3 ) — (1 ) (1 ) (1 ) (6 ) Gross carrying value as of March 31, 2019 136 64 10 14 12 236 Accumulated amortization as of April 1, 2018 (44 ) (3 ) (1 ) (2 ) (2 ) (52 ) Amortization expense (16 ) (13 ) — (1 ) (2 ) (32 ) Reduction in value (Refer note no. 2.9) (13 ) — — — — (13 ) Reclassified under assets held for sale (Refer note no. 2.9) (9 ) (28 ) — (3 ) — (40 ) Translation differences 1 — — — — 1 Accumulated amortization as of March 31, 2019 (81 ) (44 ) (1 ) (6 ) (4 ) (136 ) Carrying value as of March 31, 2019 55 20 9 8 8 100 Carrying value as of April 1, 2018 24 — 10 2 2 38 Estimated Useful Life (in years) 1-10 3-8 50 5-10 3-5 Estimated Remaining Useful Life (in years) 0-7 1 42 2-8 2-3 Following are the changes in the carrying value of acquired intangible assets for fiscal 2018: (Dollars in millions) Customer related Software related Sub- contracting right related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2017 116 62 3 10 14 10 215 Addition through business combination (refer note no. 2.9) 2 — — — — — 2 Deletion/ retirals (27 ) — (3 ) — (4 ) (5 ) (39 ) Reclassified under assets held for sale (Refer note no. 2.9) (24 ) (60 ) — — (6 ) — (90 ) Translation differences 1 1 — 1 — (1 ) 2 Gross carrying value as of March 31, 2018 68 3 — 11 4 4 90 Accumulated amortization as of April 1, 2017 (59 ) (19 ) (3 ) (1 ) (7 ) (6 ) (95 ) Amortization expense (20 ) (12 ) — — (2 ) (1 ) (35 ) Deletion/ retirals 27 — 3 — 4 5 39 Reclassified under assets held for sale (Refer note no. 2.9) 9 28 — — 3 — 40 Translation differences (1 ) — — — — — (1 ) Accumulated amortization as of March 31, 2018 (44 ) (3 ) — (1 ) (2 ) (2 ) (52 ) Carrying value as of March 31, 2018 24 — — 10 2 2 38 Carrying value as of April 1, 2017 57 43 — 9 7 4 120 Estimated Useful Life (in years) 2-10 — — 50 5 5 Estimated Remaining Useful Life (in years) 1-5 — — 43 3 3 Following are the changes in the carrying value of acquired intangible assets for fiscal 2017: (Dollars in millions) Customer related Software related Sub- contracting right related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2016 117 62 3 11 14 10 217 Translation differences (1 ) — — (1 ) — — (2 ) Gross carrying value as of March 31, 2017 116 62 3 10 14 10 215 Accumulated amortization as of April 1, 2016 (46 ) (9 ) (3 ) (1 ) (5 ) (4 ) (68 ) Amortization expense (14 ) (9 ) — — (2 ) (3 ) (28 ) Translation differences 1 (1 ) — — — 1 1 Accumulated amortization as of March 31, 2017 (59 ) (19 ) (3 ) (1 ) (7 ) (6 ) (95 ) Carrying value as of March 31, 2017 57 43 — 9 7 4 120 Carrying value as of April 1, 2016 71 53 — 10 9 6 149 Estimated Useful Life (in years) 3-10 5-8 — 50 3-10 3-5 Estimated Remaining Useful Life (in years) 1-6 3-6 — 44 1 -8 1-4 The amortization expense has been included under depreciation and amortization expense in the consolidated statement of comprehensive income. During fiscal 2017, the management based on an internal evaluation reassessed the remaining useful life of certain software technology assets acquired as a part of business combinations. Accordingly, the remaining useful life of the said asset which was 8 years has been revised to 3 years. Amortization expense for fiscal 2017 is higher by $3 million due to the revision. The aggregate amortization expense is included in cost of sales in the consolidated statement of comprehensive income. Research and development expense recognized in the consolidated statement of comprehensive income, for the years ended March 31, 2019, 2018 and 2017 were $110 million, $116 million and $118 million, respectively. |
Business Combinations and Dispo
Business Combinations and Disposal Group Held for Sale | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Business Combinations [Abstract] | |
Business combinations and Disposal group held for sale | 2.9 Business combinations and Disposal group held for sale a. Business combinations Accounting Policy: Business combinations have been accounted for using the acquisition method under the provisions of IFRS 3 (Revised), Business Combinations. The cost of an acquisition is measured at the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of acquisition, which is the date on which control is transferred to the Group. The cost of acquisition also includes the fair value of any contingent consideration. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value on the date of acquisition. The interest of non-controlling shareholders is initially measured either at fair value or at the non-controlling interests’ proportionate share of the acquiree’s identifiable net assets. The choice of measurement basis is made on an acquisition-by-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 interests’ share of subsequent changes in equity of subsidiaries. Business combinations between entities under common control is outside the scope of IFRS 3 (Revised), Business Combinations and is accounted for at carrying value. Transaction costs that the Group incurs in connection with a business combination such as finders’ fees, legal fees, due diligence fees, and other professional and consulting fees are expensed as incurred. Brilliant Basics Holdings Limited: On September 8, 2017, Infosys acquired 100% of the voting interests in Brilliant Basics Holdings Limited., UK, (Brilliant Basics) a product design and customer experience innovator with experience in executing global programs. The business acquisition was completed by entering into a share purchase agreement for cash consideration of $4 million, contingent consideration of up to $3 million and an additional consideration of $2 million, referred to as retention bonus, payable to the employees of Brilliant Basics at each anniversary year over the next two years, subject to their continuous employment with the group at each anniversary. The payment of contingent consideration to sellers of Brilliant Basics is dependent upon the achievement of certain financial targets by Brilliant Basics over a period of 3 years ending on March, 2020. The fair value of contingent consideration is determined by discounting the estimated amount payable to the sellers of Brilliant Basics on achievement of certain financial targets. The key inputs used in determination of the fair value of contingent consideration are the discount rate of 10% and the probabilities of achievement of the financial targets. The undiscounted value of contingent consideration is $2 million for each of March 31, 2018 and March 31,2019. The excess of the purchase consideration paid over the fair value of assets acquired has been attributed to goodwill. The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* — — — Intangible assets – customer relationships — 2 2 Deferred tax liabilities on intangible assets — — — — 2 2 Goodwill 5 Total purchase price 7 * Includes cash and cash equivalents acquired of less than $1 million The goodwill is not tax deductible. The gross amount of trade receivables acquired and its fair value is less than $1 million and the amounts have been substantially The fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Paid 4 Fair value of contingent consideration 3 Total purchase price 7 The transaction costs of less than $1 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income for fiscal 2018 Wongdoody Holding Company Inc. On May 22, 2018, Infosys acquired 100% of the voting interests in WongDoody Holding Company Inc., (WongDoody) an US-based, full-service creative and consumer insights agency. The business acquisition was completed by entering into a share purchase agreement for a total consideration of up to $75 million, which includes a cash consideration of $38 million, contingent consideration of up to $28 million and an additional consideration of up to $9 million, referred to as retention bonus, payable to the certain employees of WongDoody over the next three years, subject to their continuous employment with the group. WongDoody, brings to Infosys the creative talent and marketing and brand engagement expertise. Further the acquisition is expected to strengthen Infosys’ creative, branding and customer experience capabilities to bring innovative thinking, talent and creativity to clients. The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 5 — 5 Intangible assets – customer contracts and relationships — 20 20 Intangible assets – Trade name — 1 1 5 21 26 Goodwill 25 Total purchase price 51 * Includes cash and cash equivalents acquired of $8 million. Goodwill is tax deductible The fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Consideration 38 Fair value of contingent consideration 13 Total purchase price 51 The gross amount of trade receivables acquired and its fair value is $2 million and the amount has been fully collected. The payment of contingent consideration to sellers of WongDoody is dependent upon the achievement of certain financial targets by WongDoody. At the acquisition date, the key inputs used in determination of the fair value of contingent consideration are the discount rate of 16% and the probabilities of achievement of the financial targets. The undiscounted value of contingent consideration as of March 31, 2019 is $17 million. The transaction costs of less than $1 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income for fiscal 2019. Infosys Compaz Pte Limited (formerly known as Trusted Source Pte Ltd) On November 16, 2018, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) acquired 60% stake in Infosys Compaz Pte. Ltd, a Singapore based IT services company. The business acquisition was completed by entering into a share purchase agreement for a total consideration of up to SGD 17 million (approximately $13 million on acquisition date), which includes a cash consideration of SGD 10 million (approximately $8 million on acquisition date), contingent consideration of up to SGD 7 million (approximately $5 million on acquisition date). The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 13 — 13 Intangible assets – customer contracts and relationships — 6 6 Deferred tax liabilities on intangible assets — (1 ) (1 ) 13 5 18 Less: Non-controlling interests (7 ) Total purchase price 11 * Includes cash and cash equivalents acquired of $ 9 million. The fair value of each major class of consideration as at the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Consideration 8 Fair value of contingent consideration 3 Total purchase price 11 The gross amount of trade receivables acquired and its fair value is $7 million and the amount has been substantially collected. The payment of contingent consideration to sellers of Infosys Compaz Pte. Ltd is dependent upon the achievement of certain revenue targets by Infosys Compaz Pte. Ltd. At the acquisition date, the key inputs used in determination of the fair value of contingent consideration are the discount rate of 9% and the probabilities of achievement of the financial targets. The undiscounted value of contingent consideration as at March 31, 2019 is $5 million (SGD 7 million). The transaction costs of less than $1 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income for fiscal 2019. Fluido Oy On October 11, 2018, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) acquired 100% of voting interests in Fluido Oy (Fluido), a Nordic-based salesforce advisor and consulting partner in cloud consulting, implementation and training services for a total consideration of upto Euro 65 million (approximately $75 million), comprising of cash consideration of Euro 45 million (approximately $52 million), contingent consideration of upto Euro 12 million (approximately $ 14 million) and retention payouts of upto Euro 8 million (approximately $9 million), payable to the employees of Fluido over the next three years, subject to their continuous employment with the group. Fluido brings to Infosys Salesforce expertise, alongside an agile delivery process that simplifies and scales digital efforts across channels and touchpoints. Further, Fluido strengthens Infosys’ presence across the Nordics region with developed assets and client relationships. The excess of the purchase consideration paid over the fair value of assets acquired has been attributed to goodwill. The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 2 — 2 Intangible assets – customer contracts and relationships — 21 21 Intangible assets – Salesforce Relationships — 8 8 Intangible assets – Brand — 4 4 Deferred tax liabilities on intangible assets — (7 ) (7 ) 2 26 28 Goodwill 32 Total purchase price 60 * Includes cash and cash equivalents acquired of $ 4 million. Goodwill is not tax deductible The fair value of each major class of consideration as of the acquisition date is as follows: (in $ million) Component Consideration settled Cash consideration 52 Fair value of contingent consideration 8 Total purchase price 60 The gross amount of trade receivables acquired and its fair value is $4 million and the amount is fully collected. The payment of contingent consideration to sellers of Fluido is dependent upon the achievement of certain financial targets by Fluido. At the acquisition date, the key inputs used in determination of the fair value of contingent consideration are the discount rate of 16% and the probabilities of achievement of the financial targets. The undiscounted value of contingent consideration as of March 31, 2019 was EUR 8 million ($9 million). The transaction costs of $1 million related to the acquisition have been included under administrative expenses in the statement of comprehensive income for fiscal 2019. Hitachi Procurement Service Co. Ltd On April 1, 2019, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) acquired 81% of the voting interests in Hitachi Procurement Service Co., Ltd.,(HIPUS), Japan, a wholly-owned subsidiary of Hitachi Ltd, Japan, for a total cash consideration of JPY 3.29 billion (approximately $30 million) after fulfilment of closing conditions. The company paid an advance of JPY 3.29 billion (approximately $30 million) to Hitachi towards cash consideration on March 29, 2019. HIPUS handles indirect materials purchasing functions for the Hitachi Group. The name of Hitachi Procurement Services Co., Ltd has been changed to HIPUS Co., Ltd with effect from April 1, 2019. As of June 19, 2019 the Company is in the process of finalizing the accounting for acquisition of HIPUS, including allocation of purchase consideration to identifiable assets and liabilities. Stater N.V. On May 23, 2019, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) acquired 75% of voting interests in Stater N.V (Stater), a wholly-owned subsidiary of ABN AMRO Bank N.V., Netherland, for a total consideration of upto Euro 154 Million (approximately $171 Million). As of June 19, 2019 the Company is in the process of finalizing the accounting for acquisition of Stater, including allocation of purchase consideration to identifiable assets and liabilities. b. Disposal group held for sale Accounting policy Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale. Non-current assets and disposal groups held for sale are measured at the lower of carrying amount and fair value less cost to sell. Non-current assets and Disposal Group that ceases to be classified as held for sale shall be measured at the lower of carrying amount before the non-current asset and Disposal Group was classified as held for sale adjusted for any depreciation/ amortization and its recoverable amount at the date when the Disposal Group no longer meets the "Held for sale" criteria. During the three months ended March 2018, the Company initiated identification and evaluation of potential buyers for its subsidiaries, Kallidus and Skava (together referred to as "Skava”) and Panaya, collectively referred to as the “Disposal Group”. The Disposal Group was classified and presented separately as “held for sale” and was carried at the lower of carrying value and fair value. Consequently, a reduction in the fair value of Disposal Group held for sale amounting to $18 million in respect of Panaya has been recognized in the consolidated statement of comprehensive income for fiscal 2018. During the three months ended June 30, 2018, on remeasurement, including consideration of progress in negotiations on offers from prospective buyers for Panaya, the Company recorded a reduction in the fair value of Disposal Group held for sale amounting to $39 million in respect of Panaya. During the three months ended December 31, 2018, based on evaluation of proposals received and progress of negotiations with potential buyers, the Company concluded that the Disposal Group does not meet the criteria for “Held for Sale’ classification because it is no longer highly probable that sale would be consummated by March 31, 2019 ( twelve months from date of initial classification “ as held for sale”) Accordingly, in accordance with IFRS 5 -" Non current Assets held for Sale and Discontinued Operations", the assets and liabilities of Panaya and Skava have been included on a line by line basis in the consolidated financial statements for fiscal ended and as at March 31, 2019. On reclassification from “Held for sale”, the assets of Panaya and Skava have been remeasured at the lower of cost and recoverable amount resulting in recognition of an adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" of $65 million (comprising of $52 million towards goodwill and $13 million towards value of customer relationships) in respect of Skava in the consolidated statement of comprehensive income for fiscal 2019. |
Revenue from Operations
Revenue from Operations | 12 Months Ended |
Mar. 31, 2019 | |
Revenue [Abstract] | |
Revenue from Operations | 2.10 Revenue from operations Accounting policy The Group derives revenues primarily from business IT services comprising of software development and related services, consulting and package implementation and from the licensing of software products and platforms across our core and digital offerings (“together called as software related services”) Effective April 1, 2018, the Group adopted IFRS 15 “Revenue from Contracts with Customers” using the cumulative catch-up transition method, applied to contracts that were not completed as of April 1, 2018. In accordance with the cumulative catch-up transition method, the comparatives have not been retrospectively adjusted. The following is a summary of new and/or revised significant accounting policies related to revenue recognition. Refer Note 2.10 "Revenue from operations" in the Company’s 2018 Annual Report on Form 20-F for the policies in effect for revenue prior to April 1, 2018. The effect on adoption of IFRS 15 was insignificant. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Arrangements with customers for software related services are either on a fixed-price, fixed-timeframe or on a time-and-material basis. Revenue on time-and-material contracts are recognized as the related services are performed and revenue from the end of the last invoicing to the reporting date is recognized as unbilled revenue. Revenue from fixed-price, fixed-timeframe contracts, where the performance obligations are satisfied over time and where there is no uncertainty as to measurement or collectability of consideration, is recognized as per the percentage-of-completion method. When there is uncertainty as to measurement or ultimate collectability, revenue recognition is postponed until such uncertainty is resolved. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Maintenance revenue is recognized ratably over the term of the underlying maintenance arrangement. Revenues in excess of invoicing are classified as unbilled revenue while invoicing in excess of revenues are classified as contract liabilities (which we refer to as unearned revenues). In arrangements for software development and related services and maintenance services, the Group has applied the guidance in IFRS 15, Revenue from contract with customer, by applying the revenue recognition criteria for each distinct performance obligation. The arrangements with customers generally meet the criteria for considering software development and related services as distinct performance obligations. For allocating the transaction price, the Group has measured the revenue in respect of each performance obligation of a contract at its relative standalone selling price. The price that is regularly charged for an item when sold separately is the best evidence of its standalone selling price. In cases where the Group is unable to determine the standalone selling price, the Group uses the expected cost plus margin approach in estimating the standalone selling price. For software development and related services, the performance obligations are satisfied as and when the services are rendered since the customer generally obtains control of the work as it progresses. Revenue from licenses where the customer obtains a “right to use” the licenses is recognized at the time the license is made available to the customer. Revenue from licenses where the customer obtains a “right to access” is recognized over the access period. Arrangements to deliver software products generally have three elements: license, implementation and Annual Technical Services (ATS). The Group has applied the principles under IFRS 15 to account for revenues from these performance obligations. When implementation services are provided in conjunction with the licensing arrangement and the license and implementation have been identified as two separate performance obligations, the transaction price for such contracts are allocated to each performance obligation of the contract based on their relative standalone selling prices. In the absence of standalone selling price for implementation, the performance obligation is estimated using the expected cost plus margin approach. Where the license is required to be substantially customized as part of the implementation service the entire arrangement fee for license and implementation is considered to be a single performance obligation and the revenue is recognized using the percentage-of-completion method as the implementation is performed. Revenue from client training, support and other services arising due to the sale of software products is recognized as the performance obligations are satisfied. ATS revenue is recognized ratably over the period in which the services are rendered. The Group accounts for volume discounts and pricing incentives to customers as a reduction of revenue based on the ratable allocation of the discounts/ incentives to each of the underlying performance obligation that corresponds to the progress by the customer towards earning the discount/ incentive. Also, when the level of discount varies with increases in levels of revenue transactions, the Group recognizes the liability based on its estimate of the customer's future purchases. If it is probable that the criteria for the discount will not be met, or if the amount thereof cannot be estimated reliably, then discount is not recognized until the payment is probable and the amount can be estimated reliably. The Group recognizes changes in the estimated amount of obligations for discounts in the period in which the change occurs. Deferred contract costs are incremental costs of obtaining a contract which are recognised as assets and amortized over the term of the contract. Contract modifications are accounted for when additions, deletions or changes are approved either to the contract scope or contract price. The accounting for modifications of contracts involves assessing whether the services added to an existing contract are distinct and whether the pricing is at the standalone 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 standalone selling price, or as a termination of the existing contract and creation of a new contract if not priced at the standalone selling price. The Group presents revenues net of indirect taxes in its statement of comprehensive income. Revenues for fiscal 2019, 2018 and 2017 are as follows: (Dollars in millions) Year ended March 31, Particulars 2019 2018 2017 Revenue from software services 11,184 10,371 9,669 Revenue from products and platforms 615 568 539 11,799 10,939 10,208 Disaggregate revenue information The table below presents disaggregated revenues from contracts with customers by geography, offerings and contract-type for each of our business segments. The Group believes this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors. Year ended March 31, 2019 (Dollars in millions) Particulars Financial Services (1) Retail (2) Communication (3) Energy, Utilities, resources and Services Manufacturing Hi Tech Life Sciences (4) Others (5) Total Revenues by Geography North America 2,290 1,255 796 838 619 844 438 61 7,141 Europe 698 548 271 507 499 15 287 22 2,847 India 172 3 8 — 12 20 2 75 292 Rest of the world 618 129 413 138 33 3 16 169 1,519 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Revenue by offerings Services Digital 1,076 630 491 427 327 285 156 44 3,436 Core 2,293 1,255 971 1,026 805 584 539 275 7,748 Subtotal 3,369 1,885 1,462 1,453 1,132 869 695 319 11,184 Products and platforms Digital 104 43 25 10 20 12 29 6 249 Core 305 7 1 20 11 1 19 2 366 Subtotal 409 50 26 30 31 13 48 8 615 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Digital 1,180 673 516 437 347 297 185 50 3,685 Core 2,598 1,262 972 1,046 816 585 558 277 8,114 Revenues by contract type Fixed Price 1,655 1,223 903 861 596 450 347 162 6,197 Time & Materials 2,123 712 585 622 567 432 396 165 5,602 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 (1) Financial Services include enterprises in Financial Services and Insurance (2) Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics (3) Communication includes enterprises in Communication, Telecom OEM and Media (4) Life Sciences includes enterprises in Life sciences and Health care (5) Others include operating segments of businesses in India, Japan, China, Infosys Public Services & other Public Service enterprises Digital Services Digital Services comprise of service and solution offerings of the Group that enable our clients to transform their businesses. These include offerings that enhance customer experience, leverage AI-based analytics and big data, engineer digital products and IoT, modernize legacy technology systems, migrate to cloud applications and implement advanced cyber security systems. Core Services Core Services comprise traditional offerings of the Group that have scaled and industrialized over a number of years. These primarily include application management services, proprietary application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support and integration services. Products & platforms The Group also derives revenues from the sale of products and platforms including Finacle – core banking solution, Edge Suite of products, Infosys Nia - Artificial Intelligence (AI) platform which applies next-generation AI and machine learning and Infosys McCamish- insurance platform Trade Receivables and Contract Balances The Group classifies the right to consideration in exchange for deliverables as either a receivable or as unbilled revenue. A receivable is a right to consideration that is unconditional upon passage of time. Revenue for time and material contracts are recognised as related service are performed. Revenue for fixed price maintenance contracts is recognized on a straight line basis over the period of the contract. Revenues in excess of billings is recorded as unbilled revenue and is classified as a financial asset for these cases as right to consideration is unconditional upon passage of time . Revenue recognition for fixed price development contracts is based on percentage of completion method. Invoicing to the clients is based on milestones as defined in the contract. This would result in the timing of revenue recognition being different from the timing of billing the customers. Unbilled revenue for fixed price development contracts (contract assets) is classified as non-financial asset as the contractual right to consideration is dependent on completion of contractual milestones. Invoicing in excess of earnings are classified as unearned revenue. Trade receivable and unbilled revenues are presented net of impairment in the consolidated statements of financial position. During fiscal 2019 , the company recognized revenue of $319 million arising from opening unearned revenue as of April 1, 2018. As of March 31, 2019, unbilled revenue for fixed price development contracts amounted to $474 million. Out of the unbilled revenues pertaining to fixed price development contracts amounting to $431 million as at April 01, 2018, $383 million has been reclassified to trade receivables upon billing to customers on completion of milestone during fiscal 2019. Performance obligations and remaining performance obligations The remaining performance obligation disclosure provides the aggregate amount of the transaction price yet to be recognized as of the end of the reporting period and an explanation as to when the Group expects to recognize these amounts in revenue. Applying the practical expedient as given in IFRS 15, the Group has not disclosed the remaining performance obligation related disclosures for contracts where the revenue recognized corresponds directly with the value to the customer of the entity's performance completed to date, typically those contracts where invoicing is on time and material basis. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustment for revenue that has not materialized and adjustments for currency. The aggregate value of performance obligations that are completely or partially unsatisfied as of March 31, 2019, other than those meeting the exclusion criteria mentioned above, is $ 7,414 million. Out of this, the Group expects to recognize revenue of around 50% within the next one year and the remaining thereafter. This includes contracts that can be terminated for convenience without a substantive penalty since, based on current assessment, the occurrence of the same is expected to be remote. The impact on account of applying the erstwhile IAS 18 - Revenue instead of IFRS 15- Revenue from contract with customers on the financials results of the Group for the year ended and as at March 31, 2019 is insignificant. On account of adoption of IFRS 15, unbilled revenues of $474 million as of March 31, 2019 has been considered as non-financial asset. |
Expenses by Nature
Expenses by Nature | 12 Months Ended |
Mar. 31, 2019 | |
Expense By Nature [Abstract] | |
Expenses by Nature | 2.11 Expenses by nature (Dollars in millions) Year ended March 31, 2019 2018 2017 Employee benefit costs 6,468 6,034 5,612 Depreciation and amortization charges (Refer to Note 2.7 and 2.8) 287 289 254 Travelling costs 348 310 333 Cost of technical sub-contractors 860 666 571 Cost of software packages for own use 133 138 118 Third party items bought for service delivery to clients 231 152 120 Operating lease payments (Refer to Note 2.15) 83 82 73 Consultancy and professional charges 189 162 114 Communication costs 67 76 82 Repairs and maintenance 188 174 191 Rates and Taxes 27 25 22 Provision for post-sales client support — 22 12 Power and fuel 32 32 34 Commission to non-whole time directors 1 1 2 Branding and marketing expenses 69 47 51 Impairment loss recognized/(reversed) under expected credit loss model 35 11 21 Insurance charges 10 9 8 Contribution towards Corporate Social Responsibility 38 24 34 Others 37 26 36 Total cost of sales, selling and marketing expenses and administrative expenses 9,103 8,280 7,688 Operating profit Operating profit for the Group is computed considering the revenues, net of cost of sales, selling and marketing expenses and administrative expenses. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Employee benefits | 2.12 Employee benefits Accounting policy Gratuity The Group provides for gratuity, a defined benefit retirement plan ('the Gratuity Plan') covering eligible employees of Infosys and its Indian subsidiaries. The Gratuity Plan provides a lump-sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment with the Group. Liabilities with regard to the Gratuity Plan are determined by actuarial valuation, performed by an independent actuary, at each balance sheet date using the projected unit credit method. The Company fully contributes all ascertained liabilities to the Infosys Limited Employees' Gratuity Fund Trust (the Trust). In case of Infosys BPM and EdgeVerve, contributions are made to the Infosys BPM Employees' Gratuity Fund Trust and EdgeVerve Systems Limited Employees' Gratuity Fund Trust, respectively. Trustees administer contributions made to the Trusts and contributions are invested in a scheme with Life Insurance Corporation of India as permitted by Indian law. The Group recognizes the net obligation of a defined benefit plan in its balance sheet as an asset or liability. Gains and losses through re-measurements of the net defined benefit liability / asset are recognized in other comprehensive income and not reclassified to profit or loss in subsequent period. The actual return of the portfolio of plan assets, in excess of the yields computed by applying the discount rate used to measure the defined benefit obligation is recognized in other comprehensive income. The effect of any plan amendments are recognized in net profits in the statement of comprehensive income. Provident fund Eligible employees of Infosys receive benefits from a provident fund, which is a defined benefit plan. Both the eligible employee and the company make monthly contributions to the provident fund plan equal to a specified percentage of the covered employee's salary. The company contributes a portion of the contributions to the Infosys Limited Employees' Provident Fund Trust. The trust invests in specific designated instruments as permitted by Indian law. The remaining portion is contributed to the government administered pension fund. The rate at which the annual interest is payable to the beneficiaries by the trust is being administered by the government. The company has an obligation to make good the shortfall, if any, between the return from the investments of the Trust and the notified interest rate. In respect of Indian subsidiaries, eligible employees receive benefits from a provident fund, which is a defined contribution plan. Both the eligible employee and the respective companies make monthly contributions to this provident fund plan equal to a specified percentage of the covered employee's salary. Amounts collected under the provident fund plan are deposited in a government administered provident fund. The companies have no further obligation to the plan beyond their monthly contributions. Superannuation Certain employees of Infosys, Infosys BPM and EdgeVerve are participants in a defined contribution plan. The Group has no further obligations to the Plan beyond its monthly contributions which are periodically contributed to a trust fund, the corpus of which is invested with the Life Insurance Corporation of India. Compensated absences The Group has a policy on compensated absences which are both accumulating and non-accumulating in nature. The expected cost of accumulating compensated absences is determined by actuarial valuation performed by an independent actuary at each balance sheet date using projected unit credit method on the additional amount expected to be paid/availed as a result of the unused entitlement that has accumulated at the balance sheet date. Expense on non-accumulating compensated absences is recognized in the period in which the absences occur. 2.12.1 Gratuity The following tables set out the funded status of the gratuity plans and the amounts recognized in the Group’s financial statements as of March 31, 2019 and March 31, 2018: (Dollars in millions) As of March 31, 2019 March 31, 2018 Change in benefit obligations Benefit obligations at the beginning 184 172 Service cost 23 23 Interest expense 12 11 Remeasurements - Actuarial losses / (gains) 5 (9 ) Transfer — 4 Benefits paid (18 ) (17 ) Translation differences (11 ) — Benefit obligations at the end 195 184 Change in plan assets Fair value of plan assets at the beginning 187 184 Interest Income 13 12 Remeasurements – Returns on plan assets excluding amounts included in interest income 1 2 Contributions 25 5 Benefits paid (18 ) (17 ) Translation differences (11 ) 1 Fair value of plan assets at the end 197 187 Funded status 2 3 Prepaid gratuity benefit 6 7 Accrued gratuity (4 ) (4 ) Net gratuity cost for fiscal 2019, 2018 and 2017 comprises the following components: (Dollars in millions) Year ended March 31, 2019 2018 2017 Service cost 23 23 19 Net interest on the net defined benefit liability / asset (1 ) (1 ) (2 ) Net gratuity cost 22 22 17 Amount for fiscal 2019, 2018 and 2017 recognized in statement of other comprehensive income: (Dollars in millions) Year ended March 31, 2019 2018 2017 Re-measurements of the net defined benefit liability / asset Actuarial (gains) / losses 5 (9 ) 10 (Return) / loss on plan assets excluding amounts included in the net interest on the net defined benefit liability / asset (1 ) (2 ) (2 ) Total 4 (11 ) 8 (Dollars in millions) Year ended March 31, 2019 2018 2017 (Gain) / loss from change in demographic assumptions — — — (Gain) / loss from change in financial assumptions 4 (6 ) 8 (Gain) / loss from change in experience adjustments 1 (3 ) 2 5 (9 ) 10 The gratuity cost recognized in the statement of comprehensive income apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost is as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 20 20 15 Selling and marketing expenses 1 1 1 Administrative expenses 1 1 1 22 22 17 The weighted-average assumptions used to determine benefit obligations as of March 31, 2019 and March 31, 2018 are set out below: As of March 31, 2019 March 31, 2018 Discount rate 7.1 % 7.5 % Weighted average rate of increase in compensation levels 8.0 % 8.0 % Weighted average duration of defined benefit obligation 5.9 years 6.1 years The weighted-average assumptions used to determine net periodic benefit cost for fiscal 2019, 2018 and 2017 are set out below: Year ended March 31, 2019 2018 2017 Discount rate for the year 7.5 % 6.9 % 7.8 % Weighted average rate of increase in compensation levels 8.0 % 8.0 % 8.0 % Discount rate In India, the market for high quality corporate bonds being not developed, the yield of government bonds is considered as the discount rate. The tenure has been considered taking into account the past long-term trend of employees’ average remaining service life which reflects the average estimated term of the post- employment benefit obligations. Weighted average rate of increase in compensation levels The average rate of increase in compensation levels is determined by the Company, considering factors such as, the Company’s past compensation revision trends and management’s estimate of future salary increases. Attrition rate Attrition rate considered is the management’s estimate based on the past long-term trend of employee turnover in the Company. Assumptions regarding future mortality experience are set in accordance with the published statistics by the Life Insurance Corporation of India. Gratuity is applicable majorly to employees drawing a salary in Indian rupees and there are no other significant foreign defined benefit gratuity plans. The company contributes all ascertained liabilities towards gratuity to the Infosys Employees' Gratuity Fund Trust. In case of Infosys BPM and EdgeVerve, contributions are made to the Infosys BPM Employees' Gratuity Fund Trust and EdgeVerve Systems Limited Gratuity Fund Trust, respectively. Trustees administer contributions made to the trusts. As of March 31, 2018 and March 31, 2017, the plan assets have been primarily invested in insurer managed funds. Actual return on assets for fiscal 2019, 2018 and 2017 was $14 million, $14 million and $14 million, respectively. Sensitivity of significant assumptions used for valuation of defined benefit obligation: (Dollars in millions) Impact from one percentage point increase / decrease in As at March 31, 2019 Discount rate 10 Weighted average rate of increase in compensation levels 8 Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation of the defined benefit obligation by one percentage, keeping all other actuarial assumptions constant. The Group expects to contribute $23 million to the gratuity trusts during fiscal 2020. Maturity profile of defined benefit obligation: (Dollars in millions) Within 1 year 29 1 - 2 year 30 2 - 3 year 31 3 - 4 year 32 4 - 5 year 34 5 - 10 years 168 2.12.2 Superannuation The Group contributed $31 million, $27 million and $25 million to the superannuation plan during fiscal 2019, 2018 and 2017, respectively. Superannuation contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 28 24 22 Selling and marketing expenses 2 2 2 Administrative expenses 1 1 1 31 27 25 2.12.3 Provident fund Infosys has an obligation to fund any shortfall on the yield of the trust’s investments over the administered interest rates on an annual basis. These administered rates are determined annually predominantly considering the social rather than economic factors and in most cases the actual return earned by the company has been higher in the past years. The actuary has provided a valuation for provident fund liabilities on the basis of guidance issued by Actuarial Society of India and based on the below provided assumptions there is no shortfall as at March 31, 2019 and March 31, 2018, respectively. The details of the benefit obligation is given below: (Dollars in millions) As of March 31, 2019 March 31, 2018 Benefit obligation at the period end 866 792 Net liability recognized in Balance Sheet — — The plan assets have been primarily invested in government securities. Assumptions used in determining the present value obligation of the interest rate guarantee under the Deterministic Approach: As of March 31, 2019 March 31, 2018 Government of India (GOI) bond yield 7.1 % 7.5 % Remaining term to maturity of portfolio 5.47 years 5.9 years Expected guaranteed interest rate First year 8.65 % 8.55 % Thereafter 8.60 % 8.55 % The Group contributed $78 million, $75 million and $69 million to the provident fund during fiscal 2019, 2018 and 2017, respectively. Provident fund contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 69 67 61 Selling and marketing expenses 6 5 5 Administrative expenses 3 3 3 78 75 69 2.12.4 Employee benefit costs include: (Dollars in millions) Year ended March 31, 2019 2018 2017 Salaries and bonus (1) 6,338 5,910 5,501 Defined contribution plans 44 40 37 Defined benefit plans 86 84 74 6,468 6,034 5,612 (1) Includes stock compensation expense of $29 million, $13 million and $17 million for fiscal respectively. (Refer to Note 2.16) The gratuity and provident plans are applicable only to employees drawing a salary in Indian rupees and there are no other significant foreign defined benefit plans. The employee benefit cost is recognized in the following line items in the consolidated statement of comprehensive income: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 5,780 5,379 4,987 Selling and marketing expenses 462 425 405 Administrative expenses 226 230 220 6,468 6,034 5,612 |
Equity
Equity | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Equity [Abstract] | |
Equity | 2.13 Equity Accounting policy Ordinary Shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares, share options and buyback are recognized as a deduction from equity, net of any tax effects. Treasury Shares When any entity within the Group purchases the company's ordinary shares, the consideration paid including any directly attributable incremental cost is presented as a deduction from total equity, until they are cancelled, sold or reissued. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is transferred to/ from share premium Share capital and share premium The amount received in excess of the par value has been classified as share premium. Additionally, share-based compensation recognized in the consolidated statement of comprehensive income is credited to share premium. Amounts have been utilized for bonus issue and share buyback from share premium account. The Company has only one class of shares referred to as equity shares having a par value of ₹ ₹ The company allotted 1,148,472,332 fully paid-up shares (not adjusted for September 2018 bonus issue) of face value ₹ 20,324,982 and 10,801,956 shares (not adjusted for September 2018 bonus issue) were held by controlled trust, as of March 31, 2019 and March 31, 2018, respectively. Retained earnings Retained earnings represent the amount of accumulated earnings of the Group. Other Reserves The Special Economic Zone Re-investment reserve has been created out of the profit of the eligible SEZ unit in terms of the provisions of Sec 10AA (1)(ii) of Income Tax Act, 1961. The reserve should be utilized by the Company for acquiring new plant and machinery for the purpose of its business in terms of the provisions of the Sec 10AA (2) of the Income Tax Act, 1961. Capital Redemption Reserve In accordance with section 69 of the Indian Companies Act, 2013, the Company creates capital redemption reserve equal to the nominal value of the shares bought back as an appropriation from general reserve. Other components of equity Other components of equity consist of currency translation, re-measurement of net defined benefit liability/asset, fair value changes of equity instruments fair valued through other comprehensive income, changes on fair valuation of investments, net of taxes. Capital Allocation Policy In line with the capital allocation policy announced in April 2018, the Board, in its meeting held on January 11, 2019, approved the following: (a) A special dividend of ` (b) Buyback of Equity Shares from the open market route through Indian stock exchanges of up to ₹8,260 crore (Maximum Buyback Size) at a price not exceeding ₹800/- per share (Maximum Buyback Price) subject to shareholders' approval by way of Postal Ballot. After the execution of the above, along with the special dividend of ₹5/- per share (approximately $0.08 per share) already paid in June 2018, the Company would complete the distribution of ₹13,000 crore, which was announced as part of its capital allocation policy in April 2018. The shareholders approved the proposal of buyback of Equity Shares recommended by its Board of Directors in its meeting held on January 11, 2019 through the postal ballot that concluded on March 12, 2019. At the Maximum buyback price of ₹ ₹ The buyback was offered to all eligible equity shareholders of the Company (other than the Promoters, the Promoter Group and Persons in Control of the Company) under the open market route through the stock exchange. The Company will fund the buyback from its free reserves as defined under Companies Act 2013. The buyback of equity shares through the stock exchange commenced on March 20, 2019 and is expected to be completed by September 2019. During fiscal 2019, 12,652,000 equity shares were purchased from the stock exchange which includes 1,818,000 shares which have been purchased but not extinguished as of March 31, 2019 and 3,636,000 shares which have been purchased but have not been settled and therefore not extinguished as of March 31, 2019. In accordance with section 69 of the Companies Act, 2013, during fiscal 2019 , the Company has created ‘Capital Redemption Reserve’ of $1 million equal to the nominal value of the shares bought back as an appropriation from general reserve. Subsequent to March 31, 2019, the Company has bought back 57,600,000 equity shares from the Indian stock exchanges. The Board, at its meeting on August 19, 2017, approved a proposal for the Company to buyback its fully paid-up equity shares of face value of ₹ ₹ ₹ The Company’s objective when managing capital is to safeguard its ability to continue as a going concern and to maintain an optimal capital structure so as to maximize shareholder value. In order to maintain or achieve an optimal capital structure, the Company may adjust the amount of dividend payment, return capital to shareholders, issue new shares or buy back issued shares. As of March 31, 2019, the Company has only one class of equity shares and has no debt. Consequent to the above capital structure there are no externally imposed capital requirements Bonus issue The Company has allotted 2,184,191,490 fully paid up equity shares (including treasury shares of 10,486,661) of face value ₹ The bonus shares allotted ranks pari passu in all respects and carry the same rights as the existing equity shareholders and are entitled to participate in full, in any dividend and other corporate action, recommended and declared after the new equity shares are allotted. The rights of equity shareholders are set out below. 2.13.1 Voting Each holder of equity shares is entitled to one vote per share. The equity shares represented by American Depositary Shares (ADS) carry similar rights to voting and dividends as the other equity shares. Each ADS represents one underlying equity share. 2.13.2 Dividends Accounting policy Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the company's Board of Directors. The Company declares and pays dividends in Indian rupees. The remittance of dividends outside India is governed by Indian law on foreign exchange and is subject to applicable distribution taxes. Dividend distribution tax paid by subsidiaries may be reduced / available as credit against dividend distribution tax payable by Infosys Limited. Effective from Financial Year 2018, the Company's policy is to payout up to 70% of the free cash flow of the corresponding Financial Year in such manner (including by way of dividend and / or share buyback) as may be decided by the Board from time to time, subject to applicable laws and requisite approvals, if any. Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IFRS. Dividend payout includes dividend distribution tax. The following table provides details of per share dividend recognized during fiscal 2019, 2018 and 2017: Fiscal 2019 Fiscal 2018 Fiscal 2017 Dividend per Equity Share ( ₹ (2) Interim dividend (3) 7.00 6.50 5.50 Final dividend (4) 10.25 7.38 7.13 Special dividend (5) 9.00 — — Dividend per Equity Share/ADS ($) (1)(2) Interim dividend (3) 0.10 0.10 0.09 Final dividend (4) 0.16 0.12 0.11 Special dividend (5) 0.14 — — (1) (2) Adjusted for September 2018 bonus share issue, wherever applicable. (3) (4) Represents final dividend for the preceding fiscal year (5) Represents special dividend of ₹ ` During fiscal 2019, on account of the final dividend for fiscal 2018, special dividend declared in fiscal 2018 and fiscal 2019 and interim dividend for fiscal 2019, the Company has incurred a net cash outflow of $1,956 million, (excluding dividend paid on treasury shares) inclusive of corporate dividend tax. The Board of Directors in their meeting on April 12, 2019 recommended a final dividend of ₹ ` 2.13.3 Liquidation In the event of liquidation of the company, the holders of shares shall be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently, other than the amounts held by irrevocable controlled trusts. The amount distributed will be in proportion to the number of equity shares held by the shareholders. For irrevocable controlled trusts, the corpus would be settled in favor of the beneficiaries. 2.13.4 Share options There are no voting, dividend or liquidation rights to the holders of options issued under the company's share option plans. |
Other income, net
Other income, net | 12 Months Ended |
Mar. 31, 2019 | |
Expense By Nature [Abstract] | |
Other income, net | 2.14 Other income, net Accounting policy Other income is comprised primarily of interest income, dividend income, gain/loss on investments and exchange gain/loss on forward and options contracts and on translation of other assets and liabilities. Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. Effective April 1, 2018, the Group has adopted IFRS interpretation IFRIC 22- Foreign Currency Transactions and Advance Consideration which clarifies the date of transaction for the purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income when an entity has received or paid advance consideration in a foreign currency. The effect on account of adoption of this amendment was insignificant. Functional currency and presentation currency The functional currency of Infosys, Infosys BPM, EdgeVerve, Skava and controlled trusts is the Indian rupee. The functional currencies for foreign subsidiaries are their respective local currencies. These financial statements are presented in U.S. dollars (rounded off to the nearest million) to facilitate the investors’ ability to evaluate Infosys’ performance and financial position in comparison to similar companies domiciled in other geographic locations. Transactions and translations Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect at the balance sheet date. The gains or losses resulting from such translations are included in the net profit in the statement of comprehensive income. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate prevalent at the date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled. Revenue, expense and cash-flow items denominated in foreign currencies are translated into the relevant functional currencies using the exchange rate in effect on the date of the transaction. The translation of financial statements of the entities of the group from functional currency to the presentation currency is performed for assets and liabilities using the exchange rate in effect at the balance sheet date and for revenue, expense and cash-flow items using the average exchange rate for the respective periods. The gains or losses resulting from such translation are included in currency translation reserves under other components of equity. When a subsidiary is disposed of, in full, the relevant amount is transferred to the net profit in the statement of comprehensive income. However, when a change in the parent's ownership does not result in loss of control of a subsidiary, such changes are recorded through equity. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate in effect at the balance sheet date. Government grants The Group recognizes government grants only when there is reasonable assurance that the conditions attached to them shall be complied with, and the grants will be received. Government grants related to assets are treated as deferred income and are recognized in the net profit in the statement of comprehensive income on a systematic and rational basis over the useful life of the asset. Government grants related to revenue are recognized on a systematic basis in the statement of comprehensive income over the periods necessary to match them with the related costs which they are intended to compensate. Other income consists of the following: (Dollars in millions) Year ended March 31, 2019 2018 2017 Interest income on financial assets carried at amortized cost 201 260 352 Interest income on financial assets fair valued through other comprehensive income 92 106 28 Dividend income on investments carried at fair value through profit or loss — 1 4 Gain / (loss) on investments carried at fair value through profit or loss 24 39 18 Exchange gains / (losses) on forward and options contracts 27 — 89 Exchange gains / (losses) on translation of other assets and liabilities 18 36 (54 ) Others 49 71 22 411 513 459 |
Leases
Leases | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |
Leases | 2.15 Leases Accounting policy Leases under which the group assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments under operating leases are recognized as an expense on a straight line basis in the statement of comprehensive income over the lease term. The Group has various operating leases, mainly for office buildings, that are renewable on a periodic basis. Rental expense for operating leases was $83 million, $82 million and $73 million for fiscal 2019, 2018 and 2017, respectively. The schedule of future minimum rental payments in respect of non-cancellable operating leases is set out below: (Dollars in millions) As of March 31, 2019 March 31, 2018 Within one year of the balance sheet date 90 70 Due in a period between one year and five years 259 213 Due after five years 128 134 A majority of the group’s operating lease arrangements extend up to a maximum of ten years from their respective dates of inception, and relate to rented premises. Some of these lease agreements contain a price escalation clause. |
Employees' Stock Option Plans (
Employees' Stock Option Plans (ESOP) | 12 Months Ended |
Mar. 31, 2019 | |
Employee Stock Option Plan | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Employees' Stock Option Plans (ESOP) | 2.16 Employees' Stock Option Plans (ESOP) Accounting policy The Group recognizes compensation expense relating to share-based payments in net profit using fair-value in accordance with IFRS 2, Share-Based Payment. The estimated fair value of awards is charged to income on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was in-substance, multiple awards with a corresponding increase to share premium. 2015 Stock Incentive Compensation Plan (formerly 2011 RSU Plan) (the 2015 Plan): On March 31, 2016, pursuant to the approval by the shareholders through postal ballot, the Board has been authorized to introduce, offer, issue and allot share-based incentives to eligible employees of the Company and its subsidiaries under the 2015 Stock Incentive Compensation Plan (the 2015 Plan). The maximum number of shares under the 2015 plan shall not exceed 24,038,883 equity shares (this includes 11,223,576 equity shares which are held by the trust towards the 2011 Plan as at March 31, 2016). These instruments will generally vest over a period of 4 years and the Company expects to grant the instruments under the 2015 Plan over the period of 4 to 7 years. The plan numbers mentioned above would further be adjusted for the September 2018 bonus issue. Consequent to the September 2018 bonus issue, all outstanding options granted under the stock option plan have been adjusted for bonus shares. Unless otherwise stated , all the prior period share numbers, share prices and weighted average exercise prices in this note have been adjusted to give effect to the September 2018 bonus issue Controlled trust holds 20,324,982 and 10,801,956 shares (not adjusted for September, 2018 bonus issue) as at March 31, 2019 and March 31, 2018, respectively under the 2015 plan, out of which 200,000 and 100,000 (not adjusted for September, 2018 bonus issue) equity shares have been earmarked for welfare activities of the employees as at March 31, 2019 and March 31, 2018, respectively. The following is the summary of grants made during fiscal 2019, 2018 and 2017 under the 2015 Plan: Particulars Fiscal 2019 Fiscal 2018 Fiscal 2017 RSU and ESOP Salil Parekh, CEO and MD - Refer Note 1 below 260,130 226,048 — U.B. Pravin Rao, COO and WTD- Refer Note 2 below 68,250 140,500 — Dr.Vishal Sikka* — 1,201,498 241,400 Other KMP** 368,100 631,100 1,497,600 Employees other than KMP 3,644,220 3,345,220 6,422,080 4,340,700 5,544,366 8,161,080 Incentive units- cash settled Other employees 74,090 100,080 224,420 74,090 100,080 224,420 Total grants 4,414,790 5,644,446 8,385,500 Information in the table above is adjusted for September 2018 bonus issue, wherever applicable. * Upon Dr. Vishal Sikka's resignation from the roles of the company, the unvested RSUs and ESOPs have been forfeited ** Refer note 2.19 for details on appointment and resignation of KMPs Note: 1. Stock incentives granted to Salil Parekh, CEO and MD Pursuant to the approval of the shareholders through a postal ballot on February 20, 2018, Salil Parekh (CEO & MD) is eligible to receive under the 2015 Plan and as per the terms of his employment agreement: a) an annual grant of RSUs of fair value ₹ b) a one-time grant of RSUs of fair value ₹ c) annual grant of performance based RSUs of fair value ₹ The Board based on the recommendations of the Nomination and Remuneration committee approved on February 27, 2018, the annual time based grant for fiscal 2018 of 56,512 RSUs (adjusted for September 2018 bonus issue) and the one-time time based grant of 169,536 RSUs (adjusted for September 2018 bonus issue). The grants were made effective February 27, 2018. Further, the Board, based on the recommendations of the Nomination and Remuneration Committee, granted 217,200 (adjusted for September 2018 bonus issue) performance based RSUs to Salil Parekh with an effective date of May 2, 2018. The grants would vest upon successful completion of three full fiscal years with the Company and will be determined based on achievement of certain performance targets for the said three-year period. The Board based on the recommendations of the Nomination and Remuneration committee approved on January 11, 2019, the annual time based grant for fiscal 2019 of 42,930 RSUs. The grant was made effective February 1, 2019. Though the annual time based grants for the remaining employment term ending on March 31, 2023 have not been granted as of March 31, 2019, since the service commencement date precedes the grant date, the company has recorded employment stock compensation expense in accordance with IFRS 2, Share based payments. 2. On the recommendation of the nomination and remuneration committee, in accordance with the terms of the employment agreement, under the 2015 Plan, the Board approved grant of 68,250 RSUs to U.B. Pravin Rao, based on his performance in fiscal 2018. The grants were made effective February 1, 2019. The RSUs and stock options would vest generally over a period of 4 years and shall be exercisable within the period as approved by the Committee. The exercise price of the RSUs will be equal to the par value of the shares and the exercise price of the stock options would be the market price as on the date of grant. As at March 31, 2019 and March 31, 2018, incentive units outstanding (net of forfeitures) were 1,77,454 and 223,514 (adjusted for September 2018 bonus issue), respectively. Break-up of employee stock compensation expense (Dollars in millions) Year ended March 31, 2019 2018 2017 Granted to: KMP (1) 5 (2 ) 5 Employees other than KMP 24 15 12 Total 29 13 17 Cash settled stock compensation expense included in the above 1 1 — (1) Included a reversal of stock compensation cost of $5 million for fiscal 2018, towards forfeiture of stock incentives granted to Dr. Vishal Sikka upon his resignation. The carrying value of liability towards cash settled share based payments was $1 million each respectively as at March 31, 2019 and March 31, 2018. The activity in the 2015 Plan (formerly 2011 RSU Plan) for equity-settled share based payment transaction during fiscal 2019 is set out below: Year ended March 31, 2019 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning 7,500,818 0.04 Granted 4,340,700 0.05 Exercised 1,864,510 0.04 Forfeited and expired 795,810 0.04 Outstanding at the end 9,181,198 0.05 Exercisable at the end 235,256 0.04 2015 Plan-ESOP Outstanding at the beginning 1,933,826 7.62 Granted — — Exercised 117,350 7.35 Forfeited and expired 193,300 7.43 Outstanding at the end 1,623,176 7.46 Exercisable at the end 698,500 7.46 Information in the above table is adjusted for September 2018 bonus issue, wherever applicable. The activity in the 2015 Plan for equity-settled share based payment transaction during fiscal 2018 is set out below: Year ended March 31, 2018 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning 5,922,746 0.04 Granted 4,561,216 0.04 Exercised 1,296,434 0.04 Forfeited and expired 1,686,710 0.04 Outstanding at the end 7,500,818 0.04 Exercisable at the end 48,410 0.04 2015 Plan-ESOP Outstanding at the beginning 2,395,300 7.63 Granted 983,150 7.31 Exercised 104,824 7.63 Forfeited and expired 1,339,800 7.42 Outstanding at the end 1,933,826 7.62 Exercisable at the end 393,824 7.63 Information in the above table is adjusted for September 2018 bonus issue. The activity in the 2015 Plan for equity-settled share based payment transaction during fiscal 2017 is set out below: Year ended March 31, 2017 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning 443,010 0.04 Granted 5,749,380 0.04 Forfeited and expired 201,520 0.04 Exercised 68,124 — Outstanding at the end 5,922,746 0.04 Exercisable at the end — — 2015 Plan-ESOP Outstanding at the beginning — — Granted 2,411,700 7.63 Forfeited and expired 16,400 7.63 Exercised — — Outstanding at the end 2,395,300 7.63 Exercisable at the end — — Information in the above table is adjusted for September 2018 bonus issue. During fiscal 2019, 2018 and 2017, the weighted average share price of options exercised under the 2015 Plan on the date of exercise was $10.01, $7.74 and $8.05 (adjusted for September 2018 bonus issue), respectively The following table summarizes information about equity settled RSUs and ESOPs outstanding as of March 31, 2019: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: ADS and IES 0 - 0.07 (RSU) 9,181,198 1.70 0.05 6 - 8 (ESOP) 1,623,176 5.04 7.46 10,804,374 2.20 1.16 Information in the above table is adjusted for September 2018 bonus issue, wherever applicable. The following table summarizes information about equity settled RSUs and ESOPs outstanding as at March 31, 2018: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: 0 - 0.04 (RSU) 7,500,818 1.89 0.04 6 - 8 (ESOP) 1,933,826 6.60 7.62 9,434,644 2.57 1.59 Information in the above table is adjusted for September 2018 bonus issue. The fair value of each equity settled award is estimated on the date of grant using the Black-Scholes-Merton model with the following assumptions: For options granted in Particulars Fiscal 2019- Equity Shares-RSU Fiscal 2019- ADS- RSU Weighted average share price ( ₹ 696 10.77 Exercise price ( ₹ 3.31 0.06 Expected volatility (%) 21-25 22-26 Expected life of the option (years) 1-4 1-4 Expected dividends (%) 2.65 2.65 Risk-free interest rate (%) 7-8 2-3 Weighted average fair value as on grant date ( ₹ 648 10.03 For options granted in Particulars Fiscal 2018- Equity Shares-RSU Fiscal 2018- Equity shares ESOP Fiscal 2018- ADS-RSU Fiscal 2018- ADS- ESOP Weighted average share price ( ₹ 572 461 8.31 7.32 Exercise price ( ₹ 2.50 459 0.04 7.33 Expected volatility (%) 20-25 25-28 21-26 25-31 Expected life of the option (years) 1 - 4 3 - 7 1 - 4 3 - 7 Expected dividends (%) 2.78 2.78 2.74 2.74 Risk-free interest rate (%) 6 - 7 6 - 7 1 - 2 1 - 2 Weighted average fair value as on grant date ( ₹ 533 127 7.74 1.47 For options granted in Particulars Fiscal 2017- Equity Shares-RSU Fiscal 2017- Equity shares ESOP Fiscal 2017- ADS-RSU Fiscal 2017- ADS- ESOP Weighted average share price ( ₹ 534 494.5 7.89 7.63 Exercise price ( ₹ 2.50 499 0.035 7.63 Expected volatility (%) 24-29 27-29 26-29 27-31 Expected life of the option (years) 1-4 3 - 7 1 - 4 3 - 7 Expected dividends (%) 2.37 2.37 2.29 2.29 Risk-free interest rate (%) 6-7 6 - 7 1 - 2 1 - 2 Weighted average fair value as on grant date ( ₹ 501 142.5 7.42 1.73 * Adjusted for September 2018 bonus issue The expected term of the RSU / ESOP is estimated based on the vesting term and contractual term of the RSU / ESOP, as well as expected exercise behavior of the employee who receives the RSU / ESOP. Expected volatility during the expected term of the RSU / ESOP is based on historical volatility of the observed market prices of the company's publicly traded equity shares during a period equivalent to the expected term of the RSU / ESOP. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2019 | |
Major Components Of Tax Expense Income [Abstract] | |
Income Taxes | 2.17 Income taxes Accounting policy Income tax expense comprises current and deferred income tax. Income tax expense is recognized in the net profit in the statement of comprehensive income except to the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income. Current income tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Deferred income tax assets and liabilities are recognized for all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment or the substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilized. Deferred income taxes are not provided on the undistributed earnings of subsidiaries and branches where it is expected that the earnings of the subsidiary or branch will not be distributed in the foreseeable future. The group offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Tax benefits of deductions earned on exercise of employee share options in excess of compensation charged to income are credited to share premium. Income tax expense in the consolidated statement of comprehensive income comprises: (Dollars in millions) Year ended March 31, 2019 2018 2017 Current taxes Domestic taxes 600 721 616 Foreign taxes 217 (12 ) 226 817 709 842 Deferred taxes Domestic taxes 3 (80 ) (1 ) Foreign taxes (17 ) 28 (7 ) (14 ) (52 ) (8 ) Income tax expense 803 657 834 During fiscal 2019, the Company entered into Advance Pricing Agreement (APA) in an overseas jurisdictions resulting in a reversal of income tax expense of $7 million which pertained to prior periods. In December 2017, the Company concluded an Advance Pricing Agreement (“APA”) with the US Internal Revenue Service (“IRS”) for the US branch covering fiscal years 2011 to 2021. Under the APA, the Company and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the Company’s US Branch operations. In accordance with the APA, the company reversed income tax expense provision of $225 million which pertained to previous periods which are no longer required. This comprises of reduction in current tax expense of $253 million, offset by a reversal of $21 million on account of deferred tax assets pertaining to the temporary differences which are no longer required and an increase in deferred tax liability of $7 million pertaining to Branch profit tax on account of conclusion of APA. The Company had to pay an adjusted amount of approximately $223 million due to the difference between the taxes payable for prior periods as per the APA and the actual taxes paid for such periods. The company paid $215 million till March 31, 2019. Additionally, income tax expense for fiscal 2019, 2018 and 2017 includes reversals (net of provisions) of $18 million, $45 million and $23 million, respectively, pertaining to prior periods on account of adjudication of certain disputed matters in favor of the company across various jurisdictions. Further, the “Tax Cuts and Jobs Act (H.R. 1)” was signed into law on December 22, 2017 (“US Tax Reforms”). The US tax reforms has reduced federal tax rates from 35% to 21% effective January 1, 2018 amongst other measures. During fiscal 2018, the US tax reforms has resulted in a positive impact of $24 million on account of credits pertaining to deferred tax liabilities on branch profit. The impact of US tax reforms is expected to be not significant for future periods. A reconciliation of the income tax provision to the amount computed by applying the statutory income tax rate to the income before income taxes is summarized below: (Dollars in millions) Year ended March 31, 2019 2018 2017 Profit before income taxes 3,003 3,143 2,974 Enacted tax rates in India 34.94 % 34.61 % 34.61 % Computed expected tax expense 1,049 1,088 1,029 Tax effect due to non-taxable income for Indian tax purposes (386 ) (321 ) (295 ) Overseas taxes 102 109 112 Tax provision (reversals) (25 ) (253 ) (23 ) Effect of differential overseas tax rates — 8 10 Effect of exempt non-operating income (8 ) (10 ) (10 ) Effect of unrecognized deferred tax assets 13 29 14 Effect of non-deductible expenses 50 9 4 Branch profit tax (net of credits) 4 (32 ) — Subsidiary dividend distribution tax — 27 — Others 4 3 (7 ) Income tax expense 803 657 834 The increase in the corporate statutory tax rate to 34.94% in fiscal 2019 from 34.61% in fiscal 2018 and 2017 is consequent to changes made in the Finance Act, 2018. The foreign tax expense is due to income taxes payable overseas, principally in the United States. In India, the company has benefited from certain income tax incentives that the Government of India had provided for export of software and services from the units registered under the Special Economic Zones Act, 2005 (SEZ). SEZ units which began the provision of services on or after April 1, 2005 are eligible for a deduction of 100 % of profits or gains derived from the export of services for the first five years from the financial year in which the unit commenced the provision of services and 50% of such profits or gains for a further five years. Up to 50% of such profits or gains is also available for a further five years subject to creation of a Special Economic Zone Re-investment Reserve out of the profit of the eligible SEZ units and utilization of such reserve by the Company for acquiring new plant and machinery for the purpose of its business as per the provisions of the Income Tax Act, 1961. (Refer to Other Reserves under note 2.13 Equity). During fiscal 2018, the Company received $130 million as dividend from Infosys BPM, its majority owned subsidiary. Dividend distribution tax paid by the subsidiary on such dividend has been reduced as credit against dividend distribution tax payable by Infosys. Accordingly, the group has recorded a charge of $27 million as income tax expense during fiscal 2018. Other income for fiscal 2019 and fiscal 2018, includes interest on income tax refund of $7 million and $41 million, respectively. Entire deferred income tax for fiscal 2019, 2018 and 2017 relates to origination and reversal of temporary differences except for a credit of $24 million (on account of US Tax Reforms explained above), for fiscal 2018. As a result of these tax incentives, a portion of the company’s pre-tax income has not been subject to tax in recent years. These tax incentives resulted in a decrease in our income tax expense of $386 million, $321 million and $295 million for the year ended March 31, 2019, 2018 and 2017, respectively, compared to the tax amounts that we estimate we would have been required to pay if these incentives had not been available. The per share effect of these tax incentives computed based on both basic and diluted weighted average number of equity shares for the year ended March 31, 2019, March 31, 2018 and March 31, 2017 was $0.09, $0.07 (adjusted for September 2018 bonus issue) and $0.07, (adjusted for September 2018 bonus issue), respectively. Infosys is subject to a 15% Branch Profit Tax (BPT) in the U.S. to the extent its U.S. branch's net profit during the year is greater than the increase in the net assets of the U.S. branch during the year, computed in accordance with the Internal Revenue Code. As of March 31, 2019, Infosys' U.S. branch net assets amounted to approximately $751 million. As at March 31, 2019, the Company has a deferred tax liability for branch profit of $29 million (net of credits), as the Company estimates that these branch profits are expected to be distributed in the foreseeable future. Deferred income tax liabilities have not been recognized on temporary differences amounting to $869 million and $774 million as of March 31, 2019 and March 31, 2018, respectively, associated with investments in subsidiaries and branches as it is probable that the temporary differences will not reverse in the foreseeable future. Deferred income tax assets have not been recognized on accumulated losses of $379 million and $297 million as of March 31, 2019 and March 31, 2018, respectively, as it is probable that future taxable profit will be not available against which the unused tax losses can be utilized in the foreseeable future. The balance as of March 31, 2018 excludes the accumulated losses of disposal groups held for sale. (Refer note 2.9) The following table provides details of expiration of unused tax losses for fiscal 2019: Dollars in millions Year 2020 25 2021 11 2022 20 2023 29 2024 27 Thereafter 267 Total 379 The following table provides details of expiration of unused tax losses for fiscal 2018: Dollars in millions Year 2019 14 2020 37 2021 12 2022 21 2023 39 Thereafter 174 Total 297 The following table provides the details of income tax assets and income tax liabilities as of March 31, 2019 and March 31, 2018: (Dollars in millions) As of March 31, 2019 March 31, 2018 Income tax assets 975 931 Current income tax liabilities (227 ) (314 ) Net current income tax assets / (liabilities) at the end 748 617 The gross movement in the current income tax asset / (liability) for fiscal 2019, 2018 and 2017 is as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Net current income tax asset / (liability) at the beginning 617 282 274 Translation differences (34 ) (8 ) 6 Income tax paid 975 1,059 843 Current income tax expense (817 ) (709 ) (842 ) Income tax on other comprehensive income 1 (2 ) 1 Reclassified under assets held for sale (refer note no 2.9) 3 (5 ) — Reclassified from held for sale (Refer note 2.9) 2 — — Income tax benefit arising on exercise of stock options 1 — — Tax impact on buyback expenses 1 — — Additions through business combination (1 ) — — Net current income tax asset / (liability) at the end 748 617 282 The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2019 is as follows: (Dollars in millions) Carrying value as of April 1, 2018 Changes through profit and loss Addition through business combination Changes through OCI Reclassified from Held for Sale Translation difference Carrying value as of March 31, 2019 Deferred income tax assets Property, plant and equipment 33 7 — — — (2 ) 38 Accrued compensation to employees 2 2 — — — — 4 Trade receivables 22 5 — — — (1 ) 26 Compensated absences 56 4 — — — (3 ) 57 Post sales client support 15 1 — — — (1 ) 15 Derivative financial instruments 2 (2 ) — 1 — — 1 Intangibles 1 1 — — — — 2 Credits related to branch profits 52 (3 ) — — — — 49 Others 18 11 — 1 5 (2 ) 33 201 26 — 2 5 (9 ) 225 Deferred income tax liabilities Intangible asset (6 ) 9 (8 ) — (12 ) (2 ) (19 ) Branch profit tax (77 ) (1 ) — — — — (78 ) Derivative financial instruments — (14 ) — (2 ) — — (16 ) Others (4 ) (6 ) (1 ) — (1 ) 1 (11 ) (87 ) (12 ) (9 ) (2 ) (13 ) (1 ) (124 ) The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2018 is as follows: (Dollars in millions) Carrying value as of April 1, 2017 Changes through profit and loss Changes through OCI Reclassified as Held for Sale Translation difference Carrying value as of March 31, 2018 Deferred income tax assets Property, plant and equipment 21 12 — — — 33 Computer software 6 (6 ) — — — — Accrued compensation to employees 9 (8 ) — — 1 2 Trade receivables 21 1 — — — 22 Compensated absences 58 — — — (2 ) 56 Post sales client support 15 — — — — 15 Derivative financial instruments — 2 — — — 2 Intangibles 3 (3 ) — — 1 1 Credits related to branch profits — 53 — — (1 ) 52 Others 22 (2 ) — (5 ) 3 18 155 49 — (5 ) 2 201 Deferred income tax liabilities Intangible asset (32 ) 13 — 13 — (6 ) Branch profit tax (50 ) (25 ) — — (2 ) (77 ) Derivative financial instruments (11 ) 11 — — — — Others (11 ) 4 2 — 1 (4 ) (104 ) 3 2 13 (1 ) (87 ) The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2017 is as follows: (Dollars in millions) Carrying value as of April 1, 2016 Changes through profit and loss Changes through OCI Translation difference Carrying value as of March 31, 2017 Deferred income tax assets Property, plant and equipment 27 (6 ) — — 21 Computer software 8 (2 ) — — 6 Accrued compensation to employees 10 — — (1 ) 9 Trade receivables 13 8 — — 21 Compensated absences 59 (3 ) — 2 58 Post sales client support 12 3 — — 15 Intangibles 1 2 — — 3 Others 7 14 — 1 22 137 16 — 2 155 Deferred income tax liabilities Intangible asset (38 ) 6 — — (32 ) Branch profit tax (51 ) — — 1 (50 ) Derivative financial instruments — (11 ) — — (11 ) Others * (6 ) (3 ) (1 ) (1 ) (11 ) (95 ) (8 ) (1 ) — (104 ) * included in others is the impact on adoption of IFRS 9 of $1 million The tax effects of significant temporary differences that resulted in deferred income tax assets and liability is as follows: (Dollars in millions) As of March 31, 2019 March 31, 2018 Deferred income tax assets after set off 199 196 Deferred income tax liabilities after set off (98 ) (82 ) Deferred income tax assets and deferred income tax liabilities have been offset wherever the group has a legally enforceable right to set off current income tax assets against current income tax liabilities and where the deferred income tax assets and deferred income tax liabilities relate to income taxes levied by the same taxation authority. In assessing the reliability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the group will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. As at March 31, 2019, claims against the Group not acknowledged as debts from the Income tax authorities amounted to ₹ Amount paid to statutory authorities against the above tax claims amounted to ₹ As at March 31, 2018, claims against the Group not acknowledged as debts from the Income tax authorities amounted to ₹ ₹ These matters are pending before various Appellate Authorities and the management including its tax advisors expect that its position will likely be upheld on ultimate resolution and will not have a material adverse effect on the Group's financial position and results of operations. |
Reconciliation of Basic And Dil
Reconciliation of Basic And Diluted Shares Used In Computing Earnings Per Equity Share | 12 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Shares Used in Computing Earnings Per Equity Share | 2.18 Reconciliation of basic and diluted shares used in computing earnings per equity share Accounting policy Basic earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any share splits and bonus shares issues including for changes effected prior to the approval of the financial statements by the Board of Directors. The following is a reconciliation of the equity shares used in the computation of basic and diluted earnings per equity share: Year ended March 31, 2019 2018 2017 Basic earnings per equity share - weighted average number of equity shares outstanding (1)(2) 4,347,130,157 4,510,664,644 4,571,278,894 Effect of dilutive common equivalent shares - share options outstanding 6,290,615 4,483,096 1,514,596 Diluted earnings per equity share - weighted average number of equity shares and common equivalent shares outstanding 4,353,420,772 4,515,147,740 4,572,793,490 (1) excludes treasury shares (2) adjusted for bonus shares, wherever applicable Refer to note 2.13 For fiscal 2019, 2018 and 2017, Nil, 134,476 and 224,380 number of options to purchase equity shares, respectively, had an anti-dilutive effect (adjusted for September 2018 bonus issue). |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related Party Transactions | 2.19 Related party transactions List of subsidiaries: Holding as of Particulars Country March 31, 2019 March 31, 2018 Infosys Technologies (China) Co. Limited (Infosys China) China 100 % 100 % Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) Mexico 100 % 100 % Infosys Technologies (Sweden) AB. (Infosys Sweden) Sweden 100 % 100 % Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) China 100 % 100 % Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) Brazil 100 % 100 % Infosys Nova Holdings LLC. (Infosys Nova) U.S. 100 % 100 % EdgeVerve Systems Limited (EdgeVerve) India 100 % 100 % Infosys Austria GmbH (1) Austria 100 % 100 % Skava Systems Pvt. Ltd. (Skava Systems) India 100 % 100 % Kallidus Inc. (Kallidus) U.S. 100 % 100 % Infosys Chile SpA (2) Chile 100 % — Infosys Arabia Limited (3) Saudi Arabia 70 % 70 % Infosys Consulting Ltda. (3) Brazil 99.99 % 99.99 % Infosys CIS LLC (1)(22) Russia — — Infosys Luxembourg S.a.r.l (1)(17) Luxembourg 100 % — Infosys Americas Inc., (Infosys Americas) U.S. 100 % 100 % Infosys Technologies (Australia) Pty. Limited (Infosys Australia) (4) Australia 100 % 100 % Infosys Public Services, Inc. USA (Infosys Public Services) U.S. 100 % 100 % Infosys Canada Public Services Inc (23) Canada — — Infosys Canada Public Services Ltd (24) Canada — — Infosys BPM Limited (formerly Infosys BPO Limited) India 99.98 % 99.98 % Infosys (Czech Republic) Limited s.r.o. (5) Czech Republic 99.98 % 99.98 % Infosys Poland, Sp z.o.o (5) Poland 99.98 % 99.98 % Infosys McCamish Systems LLC (5) U.S. 99.98 % 99.98 % Portland Group Pty Ltd (5) Australia 99.98 % 99.98 % Infosys BPO Americas LLC. (5) U.S. 99.98 % 99.98 % Infosys Consulting Holding AG (Infosys Lodestone) Switzerland 100 % 100 % Lodestone Management Consultants Inc. (6)(15) U.S. — 100 % Infosys Management Consulting Pty Limited (6) Australia 100 % 100 % Infosys Consulting AG (6) Switzerland 100 % 100 % Infosys Consulting GmbH (6) Germany 100 % 100 % Infosys Consulting SAS (6) France 100 % 100 % Infosys Consulting s.r.o. (6) Czech Republic 100 % 100 % Infosys Consulting (Shanghai) Co., Ltd.(formerly Lodestone Management Consultants Co., Ltd) (6) China 100 % 100 % Infy Consulting Company Ltd (6) U.K. 100 % 100 % Infy Consulting B.V. (6) The Netherlands 100 % 100 % Infosys Consulting Sp. z.o.o (6) Poland 100 % 100 % Lodestone Management Consultants Portugal, Unipessoal, Lda. (6) Portugal 100 % 100 % S.C. Infosys Consulting S.R.L. (1) Romania 100 % 100 % Infosys Consulting S.R.L. (6) Argentina 100 % 100 % Infosys Consulting (Belgium) NV (7) Belgium 99.90 % 99.90 % Panaya Inc. (Panaya) U.S. 100 % 100 % Panaya Ltd. (8) Israel 100 % 100 % Panaya GmbH (8) Germany 100 % 100 % Panaya Japan Co. Ltd (4)(8) Japan 100 % 100 % Noah Consulting LLC (Noah) (9) U.S. — — Noah Information Management Consulting Inc. (Noah Canada) (10) Canada — — Brilliant Basics Holdings Limited (Brilliant Basics) (11) U.K. 100 % 100 % Brilliant Basics Limited (12) U.K. 100 % 100 % Brilliant Basics (MENA) DMCC (12) Dubai 100 % 100 % Infosys Consulting Pte Limited (Infosys Singapore) (1) Singapore 100 % 100 % Infosys Middle East FZ LLC (13) Dubai 100 % 100 % Fluido Oy (13)(18) Finland 100 % — Fluido Sweden AB (Extero) (19) Sweden 100 % — Fluido Norway A/S (19) Norway 100 % — Fluido Denmark A/S (19) Denmark 100 % — Fluido Slovakia s.r.o (19) Slovakia 100 % — Fluido Newco AB (19) Sweden 100 % — Infosys Compaz Pte. Ltd (formerly Trusted Source Pte. Ltd) (20) Singapore 60 % — Infosys South Africa (Pty) Ltd (13)(21) South Africa — — WongDoody Holding Company Inc. (WongDoody) (14) U.S. 100 % — WDW Communications, Inc (16) U.S. 100 % — WongDoody, Inc (16) U.S. 100 % — (1) Wholly-owned subsidiary of Infosys Limited (2) Incorporated effective November 20, 2017 (3) Majority owned and controlled subsidiary of Infosys Limited (4) Under liquidation (5) Wholly owned subsidiary of Infosys BPM (6) (7) (8) Wholly owned subsidiary of Panaya Inc. (9) (10) Wholly owned subsidiary of Noah. Liquidated effective December 20, 2017 (11) On September 8, 2017, Infosys acquired 100% of the voting interests in Brilliant Basics Holding Limited (12) (13) (1 4 ) (15) (16) (17) (18) On October 11, 2018, Infosys Consulting Pte. Ltd, acquired 100% of the voting interests in Fluido Oy and its subsidiaries (19 ) (20 ) (21) (22) (23) (24) ) Infosys has provided guarantee for performance of certain contracts entered into by its subsidiaries. Associate During fiscal 2018, the Company has written down the entire carrying value of the investment in its associate DWA Nova LLC amounting to $11 million. DWA Nova LLC has been liquidated w.e.f November 17, 2017 Dividends During fiscal 2017, Infosys Consulting AG (formerly Lodestone Management Consultants AG) paid a dividend of $4 million to its holding company, Lodestone Holding AG and the tax on such dividend received was Nil. During fiscal 2019, 2018 and 2017, Infy Consulting Company Ltd. (formerly Lodestone Management Consultants Ltd.) paid a dividend of $Nil, $3 million and $5 million, respectively, to its holding company, Lodestone Holding AG and the tax on such dividend received was Nil. During fiscal 2018, the Company received $130 million as dividend from Infosys BPM. Dividend distribution tax paid by the subsidiary on such dividend has been reduced as credit against dividend distribution tax payable by Infosys. Accordingly, the group has recorded a charge of $27 million as income tax expense during fiscal 2018. During fiscal 2018, S.C. Infosys Consulting S.R.L. paid a dividend of $1 million respectively, to its holding company, Infosys Consulting Holding AG and the tax on such dividend received was Nil. During fiscal 2019 and 2018, Infosys Consulting s.r.o. paid a dividend of $1 million and $1 million respectively, to its holding company, Infosys Consulting Holding AG and the tax on such dividend received was Nil. During fiscal 2019 and 2018, Infosys Consulting B.V.. paid a dividend of $3 million and $1 million respectively, to its holding company, Infosys Consulting Holding AG and the tax on such dividend received was Nil. List of other related parties: Particulars Country Nature of relationship Infosys Limited Employees' Gratuity Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Provident Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Superannuation Fund Trust India Post-employment benefit plan of Infosys Infosys BPM Limited Employees’ Superannuation Fund Trust India Post-employment benefit plan of Infosys BPM Infosys BPM Limited Employees’ Gratuity Fund Trust India Post-employment benefit plan of Infosys BPM EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust India Post-employment benefit plan of EdgeVerve EdgeVerve Systems Limited Employees’ Superannuation Fund Trust India Post-employment benefit plan of EdgeVerve Infosys Employees’ Welfare Trust India Controlled Trust Infosys Employee Benefits Trust India Controlled Trust Infosys Science Foundation India Controlled Trust Refer to Note 2.12 for information on transactions relating to the post-employment benefit plans mentioned above. List of Key Managerial Personnel (KMP) Whole-time directors Salil Parekh was appointed as Chief Executive Officer and Managing Director effective January 2, 2018. The appointment is for a term of 5 years with effect from January 2, 2018 to January 1, 2023 and the remuneration is approved by shareholders through postal ballot dated February 20, 2018. U. B. Pravin Rao, Chief Operating officer was appointed as Interim-Chief Executive Officer and Managing Director effective August 18, 2017. Subsequently he stepped down as the interim CEO and Managing Director effective January 2, 2018 and to continue as Chief Operating Officer and a whole-time director of the Company. Dr. Vishal Sikka resigned as Chief Executive Officer and Managing Director effective August 18, 2017 and as Executive Vice Chairman effective August 24, 2017 Non-whole-time directors Nandan M. Nilekani (appointed as Non-executive and Non‑independent Chairman effective August 24, 2017) Michael Gibbs was appointed as an Independent Director effective July 13, 2018 Ravi Venkatesan, resigned from his position as Co-Chairman effective August 24, 2017 and resigned as member of the Board effective May 11, 2018. Kiran Mazumdar-Shaw Roopa Kudva Dr. Punita Kumar-Sinha D.N. Prahlad D. Sundaram (appointed effective July 14, 2017) Prof. Jeffrey Lehman, (resigned effective August 24, 2017) R. Seshasayee (resigned effective August 24, 2017) Prof. John Etchemendy (resigned effective August 24, 2017) Executive Officers Nilanjan Roy was appointed as Chief Financial Officer effective March 1, 2019 Ravi Kumar S, President and Deputy Chief Operating Officer Mohit Joshi, President Krishnamurthy Shankar, Group Head-Human Resources and Infosys Leadership Institute Inderpreet Sawhney, Group general Counsel and Chief Compliance Officer (appointed as executive officer effective July 14, 2017) Jayesh Sanghrajka was appointed as Interim Chief Financial Officer effective November 17, 2018. He resumed his responsibilities as Deputy Chief Financial Officer effective March 1, 2019. M.D. Ranganath resigned as Chief Financial Officer effective November 16, 2018. Sandeep Dadlani, President (resigned effective July 14, 2017) Gopi Krishnan Radhakrishnan, Acting General Counsel (resigned effective June 24, 2017) Rajesh K. Murthy, President (appointed effective October 13, 2016 and resigned effective January 31, 2018) Transactions with Key Managerial Personnel (KMP) The table below describes the related party transactions with key management personnel which comprises directors and executive officers under IAS 24: (Dollars in millions) Particulars Year ended March 31, 2019 2018 2017 Salaries and other employee benefits to whole-time directors and executive officers (1)(2) (3) (4) 14 8 12 Commission and other benefits to non-executive / independent directors 1 2 2 Total 15 10 14 (1) (2) for (3 ) (4 ) |
Segment Reporting
Segment Reporting | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Operating Segments [Abstract] | |
Segment Reporting | 2.20 Segment reporting IFRS 8 establishes standards for the way that public business enterprises report information about operating segments and related disclosures about products and services, geographic areas, and major customers. The Group's operations predominantly relate to providing end-to-end business solutions to enable clients to enhance business performance. During the three months ended June 30, 2018, the Group internally reorganized some of its business segments to deepen customer relationships, improve focus of sales investments and increase management oversight. Consequent to the internal reorganization, there were changes in the reportable business segments based on “Management approach” as defined under IFRS 8, Operating Segments. Therefore, enterprises in Insurance which was earlier considered under the Life Sciences, Healthcare and Insurance business segment are now considered under the Financial Services business segment and enterprises in Communication, Telecom OEM and Media which was earlier under Energy & Utilities, Communication and Services is now shown as a separate business segment. Segmental operating income has changed in line with these as well as changes in the allocation method. The CODM evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments, and are as set out in the accounting policies. Business segments of the Group are primarily enterprises in Financial Services and Insurance, enterprises in Manufacturing, enterprises in Retail, Consumer Packaged Goods and Logistics, enterprises in the Energy, Utilities, Resources and Services, enterprises in Communication, Telecom OEM and Media, enterprises in Hi-Tech, enterprises in Life Sciences and Healthcare and all other segments. The Financial services reportable segments has been aggregated to include the Financial Services operating segment and Finacle operating segment because of the similarity of the economic characteristics. All other segments represent the operating segments of businesses in India, Japan, China, Infosys Public Services & other Public Service enterprises. Consequent to the above change in the composition of reportable business segments, the prior year comparatives for fiscal 2018 and 2017 have been restated. Revenue and identifiable operating expenses in relation to segments are categorized based on items that are individually identifiable to that segment. Revenue for 'all other segments' represents revenue generated by Infosys Public Services and revenue generated from customers located in India, Japan and China and other Public Service enterprises. Allocated expenses of segments include expenses incurred for rendering services from the Group's offshore software development centres and on-site expenses, which are categorized in relation to the associated efforts of the segment. Certain expenses such as depreciation, which form a significant component of total expenses, are not specifically allocable to specific segments as the underlying assets are used interchangeably. The management believes that it is not practical to provide segment disclosures relating to those costs and expenses, and accordingly these expenses are separately disclosed as "unallocated" and adjusted against the total income of the Group. Assets and liabilities used in the Group's business are not identified to any of the reportable segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous. Business segment revenue information is collated based on individual customers invoiced or in relation to which the revenue is otherwise recognized. 2.20.1 Business segments (Dollars in millions) Year ended March 31, 2019 Financial Services Retail Communication Energy, Utilities, Resources and Services Manufacturing Hi-Tech Life Science All other segments Total Revenues 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Identifiable operating expenses 2,021 974 816 808 644 506 394 202 6,365 Allocated expenses 775 385 312 312 255 154 147 109 2,449 Segment profit 982 576 360 363 264 222 202 16 2,985 Unallocable expenses 289 Operating profit 2,696 Other income, net (refer note no. 2.14 and 2.9) 411 Reduction in the fair value of Disposal Group held for sale (Refer Note 2.9) (39 ) Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" (Refer Note 2.9) (65 ) Profit before Income taxes 3,003 Income tax expense 803 Net profit 2,200 Depreciation and amortisation 287 Non-cash expenses other than depreciation and amortisation 107 (Dollars in millions) Year ended March 31, 2018 Financial Services Retail Communication Energy, Utilities, Resources and Services Manufacturing Hi-Tech Life Science All other segments Total Revenues 3,594 1,760 1,378 1,287 1,035 796 729 360 10,939 Identifiable operating expenses 1,876 878 702 652 602 431 378 208 5,727 Allocated expenses 731 371 269 261 235 140 135 122 2,264 Segment profit 987 511 407 374 198 225 216 30 2,948 Unallocable expenses 289 Operating profit 2,659 Other income, net (refer note no. 2.14 and 2.9) 513 Reduction in the fair value of Disposal Group held for sale (Refer Note 2.9) (18 ) Share in associate's profit / (loss) including impairment (11 ) Profit before Income taxes 3,143 Income tax expense 657 Net profit 2,486 Depreciation and amortisation 289 Non-cash expenses other than depreciation and amortisation 29 (Dollars in millions) Year ended March 31, 2017 Financial Services Retail Communication Energy, Utilities, Resources and Services Manufacturing Hi-Tech Life Science All other segments Total Revenues 3,357 1,711 1,253 1,137 948 772 661 369 10,208 Identifiable operating expenses 1,747 863 602 552 538 403 328 220 5,253 Allocated expenses 701 368 257 245 213 134 129 133 2,180 Segment profit 909 480 394 340 197 235 204 16 2,775 Unallocable expenses 255 Operating profit 2,520 Other income, net 459 Share in associate's profit / (loss) including impairment (5 ) Profit before Income taxes 2,974 Income tax expense 834 Net profit 2,140 Depreciation and amortisation 254 Non-cash expenses other than depreciation and amortisation 1 2.20.2 Revenue by Geography The following table sets forth our revenue by geography for fiscal 2019, 2018 and 2017 : (Dollars in millions) North America Europe India Rest of the World Total 2019 7,141 2,847 292 1,519 11,799 2018 6,605 2,596 346 1,392 10,939 2017 6,320 2,295 325 1,268 10,208 2.20.3 Significant clients No client individually accounted for more than 10% of the revenues for fiscal 2019, 2018 and 2017. |
Litigation
Litigation | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Litigation [Abstract] | |
Litigation | 2.21 Litigation The company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The company’s management does not reasonably expect that these legal actions, when ultimately concluded and determined, will have a material and adverse effect on the company’s results of operations or financial condition. |
Overview (Policies)
Overview (Policies) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of preparation of financial statements | 1.2 Basis of preparation of financial statements These consolidated financial statements have been prepared in compliance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board, under the historical cost convention on the accrual basis except for certain financial instruments which have been measured at fair values. Accounting policies have been applied consistently to all periods presented in these consolidated financial statements. As the year-end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add up to the year-end figures reported in this statement. |
Basis of consolidation | 1.3 Basis of consolidation Infosys consolidates entities which it owns or controls. The consolidated financial statements comprise the financial statements of the company, its controlled trusts and its subsidiaries. Control exists when the parent has power over the entity, is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through existing rights that give the ability to direct relevant activities, those which significantly affect the entity's returns. Subsidiaries are consolidated from the date control commences until the date control ceases. The financial statements of the Group companies are consolidated on a line-by-line basis and intra-group balances and transactions including unrealized gain / loss from such transactions are eliminated upon consolidation. These financial statements are prepared by applying uniform accounting policies in use at the Group. Non-controlling interests which represent part of the net profit or loss and net assets of subsidiaries that are not, directly or indirectly, owned or controlled by the company, are excluded. Refer to note 2.19 for the list of subsidiaries and controlled trusts of the Company. |
Use of estimates and judgements | 1.4 Use of estimates and judgements The preparation of the financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed in Note 1.5. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates and judgments are reflected in the consolidated financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the consolidated financial statements. |
Critical accounting estimates and judgements | 1.5 Critical accounting estimates and judgements a. Revenue recognition The group uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the percentage-of-completion method requires the group to estimate the efforts or costs expended to date as a proportion of the total efforts or costs to be expended. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Further, the Group uses significant judgements while determining the transaction price allocated to performance obligations using the expected cost plus margin approach. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the expected contract estimates at the reporting date. b. Income taxes The company's two major tax jurisdictions are India and the U.S., though the company also files tax returns in other overseas jurisdictions. Significant judgments are involved in determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions. In assessing the realizability of deferred income tax assets, management considers whether some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. Management considers the scheduled reversals of deferred income tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets are deductible, management believes that the group will realize the benefits of those deductible differences. The amount of the deferred income tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. (Refer to Note 2.17) c. Business combinations and intangible assets Business combinations are accounted for using IFRS 3 (Revised), Business Combinations. IFRS 3 requires the identifiable intangible assets and contingent consideration to be fair valued in order to ascertain the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. Significant estimates are required to be made in determining the value of contingent consideration and intangible assets. These valuations are conducted by independent valuation experts (Refer to Note 2.8 and 2.9). d. Property, plant and equipment Property, plant and equipment represent a significant proportion of the asset base of the Group. The charge in respect of periodic depreciation is derived after determining an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The useful lives and residual values of the Group's assets are determined by management at the time the asset is acquired and reviewed periodically, including at each financial year end. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology (Refer to Note 2.7). e. Impairment of Goodwill Goodwill is tested for impairment on an annual basis and whenever there is an indication that the recoverable amount of a cash generating unit is less than its carrying amount based on a number of factors including operating results, business plans, future cash flows and economic conditions. The recoverable amount of cash generating units is determined based on higher of value-in-use and fair value less cost to sell. The goodwill impairment test is performed at the level of the cash-generating unit or groups of cash-generating units which are benefitting from the synergies of the acquisition and which represents the lowest level at which goodwill is monitored for internal management purposes. Market related information and estimates are used to determine the recoverable amount. Key assumptions on which management has based its determination of recoverable amount include estimated long term growth rates, weighted average cost of capital and estimated operating margins. Cash flow projections take into account past experience and represent management’s best estimate about future developments (Refer to Note 2.8). f. Non-current assets and Disposal groups held for sale Assets and liabilities of disposal groups held for sale are measured at the lower of carrying amount and fair value less costs to sell. The determination of fair value less costs to sell includes use of management estimates and assumptions. The fair value of the disposal groups have been estimated using valuation techniques including income and market approach which includes unobservable inputs. Non-current assets and Disposal Group that ceases to be classified as held for sale shall be measured at the lower of carrying amount before the Non-current asset and Disposal Group was classified as held for sale adjusted for any depreciation/ amortization and its recoverable amount at the date when the Disposal Group no longer meets the " Held for sale" criteria. Recoverable amounts of assets reclassified from held for sale have been estimated using management’s assumptions which consist of significant unobservable inputs. |
Recent accounting pronouncements | 1.6 Recent accounting pronouncements 1.6.1 Standards issued but not yet effective IFRS 16 Leases: On January 13, 2016, the International Accounting Standards Board issued IFRS 16, Leases replacing the existing leases Standard, IAS 17 Leases and related Interpretations. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. IFRS 16 introduces a single lessee accounting model for a lessee and requires the lessee to recognize assets and liabilities for all leases unless the lease term is twelve months or less or unless the underlying asset is low value in nature. Currently, operating lease expenses are charged to the statement of comprehensive income. IFRS 16 will result in an increase in cash inflows from operating activities and an increase in cash outflows from financing activities on account of repayment of lease liabilities. The Standard also contains enhanced disclosure requirements for lessees. IFRS 16 substantially carries forward the lessor accounting requirements in IAS 17. The effective date for adoption of IFRS 16 is annual periods beginning on or after January 1, 2019 and the standard permits two possible methods of transition: • Full retrospective – Retrospectively to each prior period presented applying IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors • Modified retrospective – Retrospectively, with the cumulative effect of initially applying the Standard recognized at the date of initial application Under modified retrospective approach, the lessee records the lease liability as the present value of the remaining lease payments, discounted at the incremental borrowing rate and the right of use asset either as: • Its carrying amount as if the standard had been applied since the commencement date, but discounted at lessee’s incremental borrowing rate at the date of initial application or • An amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments related to that lease recognized under IAS 17 immediately before the date of initial application. Certain practical expedients are available under both the methods. On completion of evaluation of the effect of adoption of IFRS 16, the Group is proposing to use the ‘Modified Retrospective Approach’ for transitioning to IFRS 16, and take the cumulative adjustment to retained earnings, on the date of initial application (April 1, 2019). Accordingly, comparatives for the year ended March 31, 2019 will not be retrospectively adjusted. The Group has elected certain available practical expedients on transition. The effect of adoption as on transition date would majorly result in an increase in Right of use asset approximately by $395 million, net investment in sub-lease approximately by $60 million and an increase in lease liability approximately by $495 million. The cumulative effect of applying the standard would be adjusted in retained earnings, net of taxes IFRIC 23, Uncertainty over Income Tax Treatments: The International Accounting Standards Board (IASB) issued IFRS interpretation IFRIC 23 Uncertainty over Income Tax Treatments which is to be applied while performing the determination of taxable profit (or loss), tax bases, unused tax losses, unused tax credits and tax rates, when there is uncertainty over income tax treatments under IAS 12. According to IFRIC 23, companies need to determine the probability of the relevant tax authority accepting each tax treatment, or group of tax treatments, that the companies have used or plan to use in their income tax filing which has to be considered to compute the most likely amount or the expected value of the tax treatment when determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates. The standard permits two possible methods of transition - i) Full retrospective approach – Under this approach, IFRIC 23 will be applied retrospectively to each prior reporting period presented in accordance with IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors, without using hindsight and ii) Retrospectively with cumulative effect of initially applying IFRIC 23 recognized by adjusting equity on initial application, without adjusting comparatives. The effective date for adoption of IFRIC 23 is annual periods beginning on or after January 1, 2019, though early adoption is permitted. The Group will adopt the standard on April 1, 2019 and has decided to adjust the cumulative effect in equity on the date of initial application i.e. April 1, 2019 without adjusting comparatives. The effect on adoption of IFRIC 23 would be insignificant in the consolidated financial statements. Amendment to IAS 12 – Income taxes: In December 2017, the IASB issued amendments to the guidance in IAS 12, ‘Income Taxes’, in connection with accounting for dividend distribution taxes. The amendment clarifies that an entity shall recognize the income tax consequences of dividends in profit or loss, other comprehensive income or equity according to where the entity originally recognised those past transactions or events. Effective date for application of this amendment is annual period beginning on or after January 1, 2019, although early application is permitted. The Amendment to IAS 19 – plan amendment, curtailment or settlement- On February 7, 2018, the IASB issued amendments to the guidance in IAS 19, ‘Employee Benefits’, in connection with accounting for plan amendments, curtailments and settlements. The amendments require an entity: • to use updated assumptions to determine current service cost and net interest for the remainder of the period after a plan amendment, curtailment or settlement; and • to recognize in profit or loss as part of past service cost, or a gain or loss on settlement, any reduction in a surplus, even if that surplus was not previously recognised because of the impact of the asset ceiling. Effective date for application of this amendment is annual period beginning on or after January 1, 2019, although early application is permitted. The Group does not have any impact on account of the amendment. Amendment to IFRS 3 Business Combinations - On October 22, 2018, the IASB issued amendments to the definition of a business in IFRS 3 Business Combinations. The amendments clarify the definition of a business, with the objective of assisting entities to determine whether a transaction should be accounted for as a business combination or as an asset acquisition. The amendment also introduces an optional concentration test that permits a simplified assessment of whether an acquired set of activities and assets is not a business. The effective date for adoption of this amendment is annual periods beginning on or after January 1, 2020, although early adoption is permitted. The Group is currently evaluating the effect of this amendment on the consolidated financial statements. |
Provisions | 2.6 Provisions Accounting policy a. Provisions A provision is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. b . Post sales client support The Group provides its clients with a fixed-period post-sales support on all its fixed-price, fixed-timeframe contracts. Costs associated with such support services are accrued at the time related revenues are recorded and included in cost of sales. The group estimates such costs based on historical experience and estimates are reviewed on a periodic basis for any material changes in assumptions and likelihood of occurrence. c. Onerous contracts Provisions for onerous contracts are recognized when the expected benefits to be derived by the Group from a contract are lower than the unavoidable costs of meeting the future obligations under the contract. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract. Before a provision is established the Group recognizes any impairment loss on the assets associated with that contract. |
Property, plant and equipment | 2.7 Property, plant and equipment Accounting policy Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as intended by management. The group depreciates property, plant and equipment over their estimated useful lives using the straight-line method. The estimated useful lives of assets are as follows: Buildings 22 - 25 years Plant and machinery (1) 5 years Computer equipment 3-5 years Furniture and fixtures 5 years Vehicles 5 years Leasehold improvements Over lease term (1) Includes solar plant with a useful life of 20 years. Depreciation methods, useful lives and residual values are reviewed periodically, including at each financial year end. Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date and the cost of assets not ready to use before such date are disclosed under ‘Capital work-in-progress’. Subsequent expenditures relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Group and the cost of the item can be measured reliably. Repairs and maintenance costs are recognized in the statement of comprehensive income when incurred. The cost and related accumulated depreciation are eliminated from the financial statements upon sale or retirement of the asset and the resultant gains or losses are recognized in the net profit in the statement of comprehensive income. Impairment Property, plant and equipment are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the net profit in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the net profit in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated depreciation) had no impairment loss been recognized for the asset in prior years. |
Goodwill and intangible assets | 2.8 Goodwill and intangible assets 2.8.1 Goodwill Accounting policy Goodwill represents the purchase consideration in excess of the Group's interest in the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. When the net fair value of the identifiable assets, liabilities and contingent liabilities acquired exceeds the purchase consideration, a gain is recognized immediately in the net profit in the statement of comprehensive income. Goodwill is measured at cost less accumulated impairment losses. Impairment Goodwill is tested for impairment on an annual basis and whenever there is an indication that goodwill may be impaired, relying on a number of factors including operating results, business plans and future cash flows. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to the Group's cash generating units (CGU) or groups of CGU’s expected to benefit from the synergies arising from the business combination. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. Impairment occurs when the carrying amount of a CGU including the goodwill, exceeds the estimated recoverable amount of the CGU. The recoverable amount of a CGU is the higher of its fair value less cost to sell and its value-in-use. Value-in-use is the present value of future cash flows expected to be derived from the CGU. Total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU. An impairment loss on goodwill is recognized in the net profit in the statement of comprehensive income and is not reversed in the subsequent period. 2.8.2 Intangible assets Accounting policy Intangible assets are stated at cost less accumulated amortization and impairment. Intangible assets are amortized over their respective individual estimated useful lives on a straight-line basis, from the date that they are available for use. The estimated useful life of an identifiable intangible asset is based on a number of factors including the effects of obsolescence, demand, competition, and other economic factors (such as the stability of the industry, and known technological advances. Amortization methods and useful lives are reviewed periodically including at each financial year end. Research costs are expensed as incurred. Software product development costs are expensed as incurred unless technical and commercial feasibility of the project is demonstrated, future economic benefits are probable, the Company has an intention and ability to complete and use or sell the software and the costs can be measured reliably. The costs which can be capitalized include the cost of material, direct labour, overhead costs that are directly attributable to preparing the asset for its intended use. Impairment Intangible assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the CGU to which the asset belongs. If such assets are considered to be impaired, the impairment to be recognized in the net profit in the statement of comprehensive income is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount of the asset. An impairment loss is reversed in the net profit in the statement of comprehensive income if there has been a change in the estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised recoverable amount, provided that this amount does not exceed the carrying amount that would have been determined (net of any accumulated amortization) had no impairment loss been recognized for the asset in prior years. |
Business combinations and Disposal group held for sale | Accounting Policy: Business combinations have been accounted for using the acquisition method under the provisions of IFRS 3 (Revised), Business Combinations. The cost of an acquisition is measured at the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the date of acquisition, which is the date on which control is transferred to the Group. The cost of acquisition also includes the fair value of any contingent consideration. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value on the date of acquisition. The interest of non-controlling shareholders is initially measured either at fair value or at the non-controlling interests’ proportionate share of the acquiree’s identifiable net assets. The choice of measurement basis is made on an acquisition-by-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 interests’ share of subsequent changes in equity of subsidiaries. Business combinations between entities under common control is outside the scope of IFRS 3 (Revised), Business Combinations and is accounted for at carrying value. Transaction costs that the Group incurs in connection with a business combination such as finders’ fees, legal fees, due diligence fees, and other professional and consulting fees are expensed as incurred. |
Disposal group held for sale | Accounting policy Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale. Non-current assets and disposal groups held for sale are measured at the lower of carrying amount and fair value less cost to sell. Non-current assets and Disposal Group that ceases to be classified as held for sale shall be measured at the lower of carrying amount before the non-current asset and Disposal Group was classified as held for sale adjusted for any depreciation/ amortization and its recoverable amount at the date when the Disposal Group no longer meets the "Held for sale" criteria. |
Operating profit | Operating profit for the Group is computed considering the revenues, net of cost of sales, selling and marketing expenses and administrative expenses. |
Employee benefits | 2.12 Employee benefits Accounting policy Gratuity The Group provides for gratuity, a defined benefit retirement plan ('the Gratuity Plan') covering eligible employees of Infosys and its Indian subsidiaries. The Gratuity Plan provides a lump-sum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee's salary and the tenure of employment with the Group. Liabilities with regard to the Gratuity Plan are determined by actuarial valuation, performed by an independent actuary, at each balance sheet date using the projected unit credit method. The Company fully contributes all ascertained liabilities to the Infosys Limited Employees' Gratuity Fund Trust (the Trust). In case of Infosys BPM and EdgeVerve, contributions are made to the Infosys BPM Employees' Gratuity Fund Trust and EdgeVerve Systems Limited Employees' Gratuity Fund Trust, respectively. Trustees administer contributions made to the Trusts and contributions are invested in a scheme with Life Insurance Corporation of India as permitted by Indian law. The Group recognizes the net obligation of a defined benefit plan in its balance sheet as an asset or liability. Gains and losses through re-measurements of the net defined benefit liability / asset are recognized in other comprehensive income and not reclassified to profit or loss in subsequent period. The actual return of the portfolio of plan assets, in excess of the yields computed by applying the discount rate used to measure the defined benefit obligation is recognized in other comprehensive income. The effect of any plan amendments are recognized in net profits in the statement of comprehensive income. Provident fund Eligible employees of Infosys receive benefits from a provident fund, which is a defined benefit plan. Both the eligible employee and the company make monthly contributions to the provident fund plan equal to a specified percentage of the covered employee's salary. The company contributes a portion of the contributions to the Infosys Limited Employees' Provident Fund Trust. The trust invests in specific designated instruments as permitted by Indian law. The remaining portion is contributed to the government administered pension fund. The rate at which the annual interest is payable to the beneficiaries by the trust is being administered by the government. The company has an obligation to make good the shortfall, if any, between the return from the investments of the Trust and the notified interest rate. In respect of Indian subsidiaries, eligible employees receive benefits from a provident fund, which is a defined contribution plan. Both the eligible employee and the respective companies make monthly contributions to this provident fund plan equal to a specified percentage of the covered employee's salary. Amounts collected under the provident fund plan are deposited in a government administered provident fund. The companies have no further obligation to the plan beyond their monthly contributions. Superannuation Certain employees of Infosys, Infosys BPM and EdgeVerve are participants in a defined contribution plan. The Group has no further obligations to the Plan beyond its monthly contributions which are periodically contributed to a trust fund, the corpus of which is invested with the Life Insurance Corporation of India. Compensated absences The Group has a policy on compensated absences which are both accumulating and non-accumulating in nature. The expected cost of accumulating compensated absences is determined by actuarial valuation performed by an independent actuary at each balance sheet date using projected unit credit method on the additional amount expected to be paid/availed as a result of the unused entitlement that has accumulated at the balance sheet date. Expense on non-accumulating compensated absences is recognized in the period in which the absences occur. |
Equity | Accounting policy Ordinary Shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares, share options and buyback are recognized as a deduction from equity, net of any tax effects. Treasury Shares When any entity within the Group purchases the company's ordinary shares, the consideration paid including any directly attributable incremental cost is presented as a deduction from total equity, until they are cancelled, sold or reissued. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus or deficit on the transaction is transferred to/ from share premium |
Dividends | 2.13.2 Dividends Accounting policy Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends are recorded as a liability on the date of declaration by the company's Board of Directors. |
Other income, net | 2.14 Other income, net Accounting policy Other income is comprised primarily of interest income, dividend income, gain/loss on investments and exchange gain/loss on forward and options contracts and on translation of other assets and liabilities. Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. Effective April 1, 2018, the Group has adopted IFRS interpretation IFRIC 22- Foreign Currency Transactions and Advance Consideration which clarifies the date of transaction for the purpose of determining the exchange rate to use on initial recognition of the related asset, expense or income when an entity has received or paid advance consideration in a foreign currency. The effect on account of adoption of this amendment was insignificant. |
Functional currency and presentation currency | Functional currency and presentation currency The functional currency of Infosys, Infosys BPM, EdgeVerve, Skava and controlled trusts is the Indian rupee. The functional currencies for foreign subsidiaries are their respective local currencies. These financial statements are presented in U.S. dollars (rounded off to the nearest million) to facilitate the investors’ ability to evaluate Infosys’ performance and financial position in comparison to similar companies domiciled in other geographic locations. Transactions and translations Foreign-currency denominated monetary assets and liabilities are translated into the relevant functional currency at exchange rates in effect at the balance sheet date. The gains or losses resulting from such translations are included in the net profit in the statement of comprehensive income. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate prevalent at the date when the fair value was determined. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled. Revenue, expense and cash-flow items denominated in foreign currencies are translated into the relevant functional currencies using the exchange rate in effect on the date of the transaction. The translation of financial statements of the entities of the group from functional currency to the presentation currency is performed for assets and liabilities using the exchange rate in effect at the balance sheet date and for revenue, expense and cash-flow items using the average exchange rate for the respective periods. The gains or losses resulting from such translation are included in currency translation reserves under other components of equity. When a subsidiary is disposed of, in full, the relevant amount is transferred to the net profit in the statement of comprehensive income. However, when a change in the parent's ownership does not result in loss of control of a subsidiary, such changes are recorded through equity. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate in effect at the balance sheet date. |
Government grants | Government grants The Group recognizes government grants only when there is reasonable assurance that the conditions attached to them shall be complied with, and the grants will be received. Government grants related to assets are treated as deferred income and are recognized in the net profit in the statement of comprehensive income on a systematic and rational basis over the useful life of the asset. Government grants related to revenue are recognized on a systematic basis in the statement of comprehensive income over the periods necessary to match them with the related costs which they are intended to compensate. |
Leases | 2.15 Leases Accounting policy Leases under which the group assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalized at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments under operating leases are recognized as an expense on a straight line basis in the statement of comprehensive income over the lease term. |
Employees' Stock Option Plans (ESOP) | 2.16 Employees' Stock Option Plans (ESOP) Accounting policy The Group recognizes compensation expense relating to share-based payments in net profit using fair-value in accordance with IFRS 2, Share-Based Payment. The estimated fair value of awards is charged to income on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was in-substance, multiple awards with a corresponding increase to share premium. |
Income taxes | 2.17 Income taxes Accounting policy Income tax expense comprises current and deferred income tax. Income tax expense is recognized in the net profit in the statement of comprehensive income except to the extent that it relates to items recognized directly in equity, in which case it is recognized in other comprehensive income. Current income tax for current and prior periods is recognized at the amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Deferred income tax assets and liabilities are recognized for all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Deferred income tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the period that includes the enactment or the substantive enactment date. A deferred income tax asset is recognized to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences and tax losses can be utilized. Deferred income taxes are not provided on the undistributed earnings of subsidiaries and branches where it is expected that the earnings of the subsidiary or branch will not be distributed in the foreseeable future. The group offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Tax benefits of deductions earned on exercise of employee share options in excess of compensation charged to income are credited to share premium. |
Consolidated Statements of Cash Flows | Accounting policy Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Group are segregated. The Group considers all highly liquid investments that are readily convertible to known amounts of cash to be cash equivalents. |
Accounting policy on financial instruments | Accounting policy Effective April 1, 2016, the group has elected to early adopt IFRS 9 - Financial Instruments considering April 1, 2015 as the date of initial application of the standard even though the stipulated effective date for adoption is April 1, 2018. The group has classified its financial assets into the following categories based on the business model for managing those assets and the contractual cash flow characteristics: • Financial assets carried at amortized cost • Financial assets fair valued through other comprehensive income • Financial assets fair valued through profit and loss The adoption of IFRS 9 did not have any other material impact on the consolidated financial statements, hence prior period figures have not been restated and the cumulative impact of $5 million has been recorded in other comprehensive income for fiscal 2017. 2.3.1 Initial recognition The group recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. All financial assets and liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities that are not at fair value through profit or loss are added to the fair value on initial recognition. Regular way purchase and sale of financial assets are accounted for at trade date. 2.3.2 Subsequent measurement a. Non-derivative financial instruments (i) Financial assets carried at amortized cost A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. (ii) Financial assets at fair value through other comprehensive income (FVOCI) A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Group has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model. (iii) Financial assets at fair value through profit or loss (FVTPL) A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss. (iv) Financial liabilities Financial liabilities are subsequently carried at amortized cost using the effective interest method, except for contingent consideration recognized in a business combination which is subsequently measured at fair value through profit or loss. For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments. b. Derivative financial instruments The Group holds derivative financial instruments such as foreign exchange forward and option contracts to mitigate the risk of changes in exchange rates on foreign currency exposures. The counterparty for these contracts is generally a bank. (i) Financial assets or financial liabilities, at fair value through profit or loss This category includes derivative financial assets or liabilities which are not designated as hedges. Although the group believes that these derivatives constitute hedges from an economic perspective, they may not qualify for hedge accounting under IFRS 9, Financial Instruments. Any derivative that is either not designated a hedge, or is so designated but is ineffective as per IFRS 9, is categorized as a financial asset or financial liability, at fair value through profit or loss. Derivatives not designated as hedges are recognized initially at fair value and attributable transaction costs are recognized in the statement of comprehensive income when incurred. Subsequent to initial recognition, these derivatives are measured at fair value through profit or loss and the resulting exchange gains or losses are included in other income. Assets/ liabilities in this category are presented as current assets/current liabilities if they are either held for trading or are expected to be realized within 12 months after the balance sheet date. (ii) Cash flow hedge The group designates certain foreign exchange forward and options contracts as cash flow hedges to mitigate the risk of foreign exchange exposure on highly probable forecast cash transactions. When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and accumulated in the cash flow hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in the net profit in the statement of comprehensive income. If the hedging instrument no longer meets the criteria for hedge accounting, then hedge accounting is discontinued prospectively. If the hedging instrument expires or is sold, terminated or exercised, the cumulative gain or loss on the hedging instrument recognized in cash flow hedging reserve till the period the hedge was effective remains in cash flow hedging reserve until the forecasted transaction occurs. The cumulative gain or loss previously recognized in the cash flow hedging reserve is transferred to the net profit in the statement of comprehensive income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, then the amount accumulated in cash flow hedging reserve is reclassified to the net profit in the statement of comprehensive income. |
Derecognition of financial instruments | 2.3.3 Derecognition of financial instruments The Group derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under IFRS 9. A financial liability (or a part of a financial liability) is derecognized from the group's balance sheet when the obligation specified in the contract is discharged or cancelled or expires. |
Fair value of financial instruments | 2.3.4 Fair value of financial instruments In determining the fair value of its financial instruments, the Group uses a variety of methods and assumptions that are based on market conditions and risks existing at each reporting date. The methods used to determine fair value include discounted cash flow analysis, available quoted market prices and dealer quotes. All methods of assessing fair value result in general approximation of value, and such value may never actually be realized. Refer to table ‘Financial instruments by category’ below for the disclosure on carrying value and fair value of financial assets and liabilities. For financial assets and liabilities maturing within one year from the balance sheet date and which are not carried at fair value, the carrying amounts approximate fair value due to the short maturity of these instruments. |
Impairment | 2.3.5 Impairment The Group recognizes loss allowances using the expected credit loss (ECL) model for the financial assets and unbilled revenue which are not fair valued through profit or loss. Loss allowance for trade receivables and unbilled revenue with no significant financing component is measured at an amount equal to lifetime ECL. For all other financial assets, expected credit losses are measured at an amount equal to the 12-month ECL, unless there has been a significant increase in credit risk from initial recognition in which case those are measured at lifetime ECL. The amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized is recognized as an impairment gain or loss in statement of comprehensive income. |
Earnings per equity share | Accounting policy Basic earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares outstanding during the period. Diluted earnings per equity share is computed by dividing the net profit attributable to the equity holders of the company by the weighted average number of equity shares considered for deriving basic earnings per equity share and also the weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable had the equity shares been actually issued at fair value (i.e. the average market value of the outstanding equity shares). Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined independently for each period presented. The number of equity shares and potentially dilutive equity shares are adjusted retrospectively for all periods presented for any share splits and bonus shares issues including for changes effected prior to the approval of the financial statements by the Board of Directors. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Cash And Cash Equivalents [Abstract] | |
Summary of Cash and Cash Equivalent | Cash and cash equivalents consist of the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Cash and bank deposits 2,052 2,021 Deposits with financial institutions 777 1,020 2,829 3,041 Cash and cash equivalents included under assets classified as held for sale (Refer note no 2.9) — 8 2,829 3,049 The table below provides details of cash and cash equivalents: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current accounts ANZ Bank, Taiwan — 1 Axis Bank - Unpaid dividend account 1 — Banamex Bank, Mexico (U.S. Dollar account) 4 2 Banamex Bank, Mexico 1 — Bank of America, USA 168 180 Bank of America, Mexico 15 4 Bank of Leumni , Israel 1 — Bank of Zachodni WBK S.A., Poland — 3 Barclays Bank, UK 6 6 BNP Paribas Bank, Norway 4 14 China Merchants Bank, China — 1 Citibank N.A., Australia 13 34 Citibank N.A., Brazil 5 2 Citibank N.A., China 10 18 Citibank N.A., China (U.S. Dollar account) 2 1 Citibank N.A., Dubai 2 1 Citibank N.A., EEFC (U.S. Dollar account) — 1 Citibank N.A., Hungary — 1 Citibank N.A., Japan 3 3 Citibank N.A., New Zealand — 2 Citibank N.A., Portugal 1 1 Citibank N.A., Singapore 11 1 Citibank N.A., South Africa 3 5 Citibank N.A., USA 1 1 Citibank N.A., South Korea 2 — Citibank N.A., Luxembourg 1 — Deutsche Bank, Belgium 2 4 Deutsche Bank, Malaysia — 1 Deutsche Bank, Czech Republic 3 2 Deutsche Bank, Czech Republic (Euro account) 1 1 Deutsche Bank, Czech Republic (U.S. dollar account) 3 — Deutsche Bank, France 3 3 Deutsche Bank, Germany 16 16 Deutsche Bank, India 6 7 Deutsche Bank, Netherlands 5 2 Deutsche Bank, Philippines 1 4 Deutsche Bank, Philippines (U.S. dollar account) — 1 Deutsche Bank, Poland (PLN account) 4 3 Deutsche Bank, Poland (Euro account) 1 1 Deutsche Bank, Russia 1 1 Deutsche Bank, Russia (U.S. dollar account) — 1 Deutsche Bank, Singapore 2 3 Deutsche Bank, Switzerland 5 5 Deutsche Bank, United Kingdom 6 12 Deutsche Bank-EEFC (Euro account) 3 5 Deutsche Bank, EEFC (Swiss Franc account) 1 — Deutsche Bank-EEFC (U.S. dollar account) 31 5 Deutsche Bank-EEFC, India (United Kingdom Pound Sterling account) 1 1 Deutsche Bank, USA 9 — ICICI Bank, India 6 8 ICICI Bank-EEFC, India (U.S. dollar account) 5 6 ICICI Bank-EEFC, (United Kingdom pound sterling account) 1 2 ICICI Bank, EEFC (Euro account) 1 — HSBC Bank, United Kingdom 3 1 HSBC Bank, India 1 — Kotak Bank 1 — ICICI Bank - Unpaid dividend account 4 3 Nordea 3 — Nordbanken, Sweden 7 8 Raiffeisen Bank, Czech Republic — 1 Royal Bank of Canada, Canada 20 26 Punjab National Bank, India — 2 Silicon Valley Bank, USA 2 — Splitska Banka D.D., Societe Generale Group, Croatia 2 1 Washington Trust Bank 7 — 421 418 Deposit accounts Axis Bank 134 — Bank BGZ BNP Paribas S.A 34 22 Barclays Bank 72 31 Canara Bank, India 19 36 Citibank 26 35 Deutsche Bank, AG — 4 Deutsche Bank, Poland 18 32 HDFC Bank 7 383 HSBC Bank 29 — ICICI Bank 469 568 IDBI Bank — 38 IDFC Bank 354 230 Indusind Bank 80 154 Kotak Mahindra Bank 72 — South Indian Bank 25 69 Standard Chartered Bank 289 — Washington trust bank 3 — Yes Bank — 1 1,631 1,603 Deposits with financial institution HDFC Limited, India 600 836 LIC Housing Finance Limited 177 184 777 1,020 Total 2,829 3,041 |
Investments - (Tables)
Investments - (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Abstract] | |
Schedule of Carrying Value of Investments | The carrying value of investments are as follows: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current investments Amortized cost: Quoted debt securities Cost 3 — Fair value through profit and loss: Liquid mutual funds Fair value 258 12 Fair Value through Other comprehensive income: Quoted debt securities Fair value 267 117 Commercial paper Fair value 72 45 Certificates of deposit Fair value 358 808 958 982 Non-Current investments Amortized cost: Quoted debt securities Cost 274 291 Fair value through Other comprehensive income: Quoted debt securities Fair value 310 493 Unquoted equity and preference securities Fair value 15 21 Fair value through profit and loss: Unquoted convertible promissory note Fair value — 2 Fixed maturity plan securities Fair value 66 66 Unquoted Preference securities Fair value 3 — Others: Fair value 2 10 670 883 Total Investments 1,628 1,865 Investment carried at amortized cost 277 291 Investments carried at fair value through other comprehensive income 1,022 1,484 Investments carried at fair value through profit and loss 329 90 Note: Uncalled capital commitments outstanding as of March 31, 2019 and March 31, 2018 was $12 million and $12 million, respectively. |
Schedule of Amounts Recorded in Other Comprehensive Income | Details of amounts recorded in other comprehensive income: (Dollars in millions) Net gain / (loss) on Year ended March 31, 2019 Gross Tax Net Quoted debt securities 1 — 1 Certificate of deposits (1 ) — (1 ) Unquoted equity and preference securities 9 1 10 Net gain / (loss) on Year ended March 31, 2018 Gross Tax Net Quoted debt securities (2 ) — (2 ) Certificate of deposits 3 (1 ) 2 Unquoted equity and preference securities 1 — 1 Net gain / (loss) on Year ended March 31, 2017 Gross Tax Net Quoted debt securities (1 ) — (1 ) Certificate of deposits (1 ) — (1 ) Unquoted equity and preference securities (1 ) — (1 ) |
Schedule of Method of Fair Valuation | Method of fair valuation: (Dollars in millions) Fair value As at March 31 Class of investment Method 2019 2018 Liquid mutual funds Quoted price 258 12 Fixed Maturity Plan securities Market observable inputs 66 66 Quoted debt securities- carried at amortized cost Quoted price and market observable inputs 307 330 Quoted debt securities- carried at Fair value through other comprehensive income Quoted price and market observable inputs 577 610 Commercial paper Market observable inputs 72 45 Certificate of deposits Market observable inputs 358 808 Unquoted equity and preference securities at fair value through other comprehensive income Discounted cash flows method, Market multiples method, Option pricing model, etc 15 21 Unquoted equity and preference securities- carried at fair value through profit or loss Discounted cash flows method, Market multiples method, Option pricing model, etc 3 — Unquoted convertible promissory note Discounted cash flows method, Market multiples method, Option pricing model, etc — 2 Others Discounted cash flows method, Market multiples method, Option pricing model, etc 2 10 1,658 1,904 Note: Certain quoted investments are classified as Level 2 in the absence of active market for such investments. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Financial Instruments [Abstract] | |
Schedule of Carrying Value and Fair Value of Financial Instruments by Categories | Financial instruments by category The carrying value and fair value of financial instruments by categories as of March 31, 2019 were as follows: (Dollars in millions) Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Amortised cost Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Total carrying value Total fair value Assets: Cash and cash equivalents (Refer to Note 2.1) 2,829 — — — — 2,829 2,829 Investments (Refer Note 2.2) Liquid mutual funds — — 258 — — 258 258 Fixed maturity plan securities — — 66 — — 66 66 Quoted debt securities 277 — — — 577 854 884 (1) Certificates of deposit — — — — 358 358 358 Commercial paper — — — — 72 72 72 Unquoted equity and preference securities — — 3 15 — 18 18 Unquoted investments others — — 2 — — 2 2 Trade receivables 2,144 — — — — 2,144 2,144 Unbilled revenues (3) 303 — — — — 303 303 Prepayments and other assets (Refer to Note 2.4) 529 — — — — 529 517 (2) Derivative financial instruments — — 43 — 5 48 48 Total 6,082 — 372 15 1,012 7,481 7,499 Liabilities: Trade payables 239 — — — — 239 239 Derivative financial instruments — — 2 — — 2 2 Other liabilities including contingent consideration (Refer note 2.5) 1,263 — 27 — — 1,290 1,290 Total 1,502 — 29 — — 1,531 1,531 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost of $12 million. (3) Excludes unbilled revenue for fixed price development contracts where right to consideration is conditional on factors other than passage of time. The carrying value and fair value of financial instruments by categories as of March 31, 2018 were as follows: (Dollars in millions) Financial assets/ liabilities at fair value through profit or loss Financial assets/liabilities at fair value through OCI Amortised cost Designated upon initial recognition Mandatory Equity instruments designated upon initial recognition Mandatory Total carrying value Total fair value Assets: Cash and cash equivalents (Refer to Note 2.1) 3,041 — — — — 3,041 3,041 Investments (Refer Note 2.2) Liquid mutual funds — — 12 — — 12 12 Fixed maturity plan securities — — 66 — — 66 66 Quoted debt securities 291 — — — 610 901 940 (1) Certificates of deposit — — — — 808 808 808 Commercial Paper — — — — 45 45 45 Unquoted equity and preference securities: — — — 21 — 21 21 Unquoted investments others — — 10 — — 10 10 Unquoted convertible promissory note: — — 2 — — 2 2 Trade receivables 2,016 — — — — 2,016 2,016 Unbilled revenues 654 — — — — 654 654 Prepayments and other assets (Refer to Note 2.4) 456 — — — — 456 443 (2) Derivative financial instruments — — — — 2 2 2 Total 6,458 — 90 21 1,465 8,034 8,060 Liabilities: Trade payables 107 — — — — 107 107 Derivative financial instruments — — 6 — — 6 6 Other liabilities including contingent consideration (Refer note 2.5) 836 — 8 — — 844 844 Total 943 — 14 — — 957 957 (1) On account of fair value changes including interest accrued (2) Excludes interest accrued on quoted debt securities carried at amortized cost of $13 million. |
Schedule of Fair Value Hierarchy of Assets and Liabilities | Fair value hierarchy of assets and liabilities as of March 31, 2019: (Dollars in millions) As of March 31, 2019 Fair value measurement at end of the reporting year using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 258 258 — — Investments in fixed maturity plan securities (Refer Note 2.2) 66 — 66 — Investments in quoted debt securities (Refer to Note 2.2) 884 630 254 — Investments in certificate of deposit (Refer Note 2.2) 358 — 358 — Investments in commercial paper (Refer Note 2.2) 72 — 72 — Investments in unquoted equity and preference securities (Refer to Note 2.2) 18 — — 18 Investment in unquoted investments others (Refer Note 2.2) 2 — — 2 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 48 — 48 — Liabilities Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts 2 — 2 — Liability towards contingent consideration (Refer note 2.5)* 27 — — 27 * Discount rate pertaining to contingent consideration ranges from Fair value hierarchy of assets and liabilities as of March 31, 2018: (Dollars in millions) Particulars As of March 31, 2018 Fair value measurement at end of the reporting period using Level 1 Level 2 Level 3 Assets Investments in liquid mutual fund units (Refer to Note 2.2) 12 12 — — Investments in fixed maturity plan securities (Refer Note 2.2) 66 — 66 — Investments in quoted debt securities (Refer to Note 2.2) 940 701 239 — Investments in certificate of deposit (Refer Note 2.2) 808 — 808 — Investments in commercial paper (Refer Note 2.2) 45 — 45 — Investments in unqouted equity and preference securities (Refer to Note 2.2) 21 — — 21 Investment in unquoted investments others (Refer Note 2.2) 10 — — 10 Investments in unqouted convertible promissory note (Refer to Note 2.2) 2 — — 2 Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts 2 — 2 — Liabilities Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts 6 — 6 — Liability towards contingent consideration (Refer note 2.5)* 8 — — 8 * Discounted contingent consideration at 10%. |
Summary of Income from Financial Assets or Liabilities | Income from financial assets (Dollars in millions) Year ended March 31, 2019 2018 2017 Interest income on financial assets carried at amortized cost 201 260 352 Interest income on financial assets fair valued through other comprehensive income 92 106 28 Dividend income on investments carried at fair value through profit or loss — 1 4 Gain / (loss) on investments carried at fair value through profit or loss 24 39 18 317 406 402 |
Schedule of Analysis of Foreign Currency Risk From Monetary Assets and Liabilities | The following table analyzes foreign currency risk from monetary assets and liabilities as of March 31, 2019: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 237 38 16 31 161 483 Trade receivables 1,438 267 148 76 140 2,069 Unbilled revenues 540 111 36 40 63 790 Other assets 66 15 5 5 45 136 Trade payables (102 ) (19 ) (20 ) (12 ) (15 ) (168 ) Employee benefit obligations (98 ) (15 ) (3 ) (30 ) (24 ) (170 ) Other liabilities (509 ) (66 ) (28 ) (25 ) (86 ) (714 ) Net assets / (liabilities) 1,572 331 154 85 284 2,426 The following table analyzes foreign currency risk from monetary assets and liabilities as of March 31, 2018: (Dollars in millions) U.S. dollars Euro United Kingdom Pound Sterling Australian dollars Other currencies Total Cash and cash equivalents 197 33 23 54 183 490 Trade receivables 1,276 269 129 121 120 1,915 Unbilled revenues 356 98 46 24 57 581 Other assets 49 4 4 2 15 74 Trade payables (42 ) (12 ) (17 ) (5 ) (9 ) (85 ) Employee benefit obligations (88 ) (13 ) (4 ) (28 ) (20 ) (153 ) Other liabilities (263 ) (50 ) (29 ) (14 ) (72 ) (428 ) Net assets / (liabilities) 1,485 329 152 154 274 2,394 |
Summary of Outstanding Foreign Forward and Options Contract | The following table gives details in respect of outstanding foreign exchange forward and options contracts: (In millions) As of March 31, 2019 March 31, 2018 Derivatives designated as cash flow hedges Option Contracts In Australian dollars 120 60 In Euro 135 100 In United Kingdom Pound Sterling 25 20 Other derivatives Forward contracts In Australian dollars 8 5 In Canadian dollars 13 20 In Euro 176 91 In Japanese Yen 550 550 In New Zealand dollars 16 16 In Norwegian Krone 40 40 In Singapore dollars 140 5 In South African Rand — 25 In Swedish Krona 50 50 In Swiss Franc 25 21 In U.S. Dollars 955 623 In United Kingdom Pound Sterling 80 51 Option contracts In Australian dollars 10 20 In Canadian dollars 13 — In Euro 60 45 In Swiss Franc 5 5 In U.S. Dollars 433 320 In United Kingdom Pound Sterling 10 25 |
Summary of Derivative Financial Instruments into Relevant Maturity Groupings | The table below analyzes the derivative financial instruments into relevant maturity groupings based on the remaining period as of the balance sheet date: (Dollars in millions) As of March 31, 2019 March 31, 2018 Not later than one month 640 434 Later than one month and not later than three months 1,001 701 Later than three months and not later than one year 591 378 2,232 1,513 |
Summary of Reconciliation of Cash Flow Hedge Reserve | The following table provides the reconciliation of cash flow hedge reserve: (Dollars in millions) Year ended March 31, 2019 Year ended March 31, 2018 Gain / (Loss) Balance at the beginning of the period — 6 Gain / (Loss) recognized in other comprehensive income during the period 17 (14 ) Amount reclassified to profit or loss during the period (13 ) 6 Tax impact on above (1 ) 2 Balance at the end of the period 3 — |
Summary of Quantitative Information About Offsetting of Derivative Financial Assets And Derivative Financial Liabilities | The following table provides quantitative information about offsetting of derivative financial assets and derivative financial liabilities: (Dollars in millions) As of As of March 31, 2019 March 31, 2018 Derivative financial asset Derivative financial liability Derivative financial asset Derivative financial liability Gross amount of recognized financial asset/liability 48 (2 ) 3 (7 ) Amount set off — — (1 ) 1 Net amount presented in balance sheet 48 (2 ) 2 (6 ) |
Summary of Percentage of Revenues | The following table gives details in respect of percentage of revenues generated from top customer and top ten customers: (In %) Year ended March 31, 2019 2018 2017 Revenue from top customer 3.6 3.4 3.4 Revenue from top ten customers 19.0 19.3 21.0 The table below presents disaggregated revenues from contracts with customers by geography, offerings and contract-type for each of our business segments. The Group believes this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors. Year ended March 31, 2019 (Dollars in millions) Particulars Financial Services (1) Retail (2) Communication (3) Energy, Utilities, resources and Services Manufacturing Hi Tech Life Sciences (4) Others (5) Total Revenues by Geography North America 2,290 1,255 796 838 619 844 438 61 7,141 Europe 698 548 271 507 499 15 287 22 2,847 India 172 3 8 — 12 20 2 75 292 Rest of the world 618 129 413 138 33 3 16 169 1,519 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Revenue by offerings Services Digital 1,076 630 491 427 327 285 156 44 3,436 Core 2,293 1,255 971 1,026 805 584 539 275 7,748 Subtotal 3,369 1,885 1,462 1,453 1,132 869 695 319 11,184 Products and platforms Digital 104 43 25 10 20 12 29 6 249 Core 305 7 1 20 11 1 19 2 366 Subtotal 409 50 26 30 31 13 48 8 615 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Digital 1,180 673 516 437 347 297 185 50 3,685 Core 2,598 1,262 972 1,046 816 585 558 277 8,114 Revenues by contract type Fixed Price 1,655 1,223 903 861 596 450 347 162 6,197 Time & Materials 2,123 712 585 622 567 432 396 165 5,602 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 (1) Financial Services include enterprises in Financial Services and Insurance (2) Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics (3) Communication includes enterprises in Communication, Telecom OEM and Media (4) Life Sciences includes enterprises in Life sciences and Health care (5) Others include operating segments of businesses in India, Japan, China, Infosys Public Services & other Public Service enterprises |
Summary of Credit Risk Exposure | (Dollars in millions) Year ended March 31, 2019 2018 2017 Balance at the beginning 69 63 44 Translation differences (2 ) 2 (1 ) Impairment loss recognized/(reversed) 34 5 20 Write offs (10 ) (1 ) — Balance at the end 91 69 63 |
Summary of Credit Receivable | (Dollars in millions ) As of March 31, 2019 March 31, 2018 Trade receivables 2,144 2,016 Unbilled revenues 777 654 |
Summary of Contractual Maturities of Significant Financial Liabilities | The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2019: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 239 — — — 239 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 1,260 2 1 — 1,263 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 17 12 — 5 34 The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2018: (Dollars in millions) Particulars Less than 1 year 1-2 years 2-4 years 4-7 years Total Trade payables 107 — — — 107 Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) 836 — — — 836 Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) 6 1 1 — 8 |
Prepayments and Other Assets (T
Prepayments and Other Assets (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Prepayments And Other Assets [Abstract] | |
Schedule of Prepayment and Other Assets | Prepayments and other assets consist of the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current Rental deposits 2 2 Security deposits 1 1 Loans to employees 35 37 Prepaid expenses (1) 108 72 Interest accrued and not due 131 117 Withholding taxes and others (1) 215 158 Advance payments to vendors for supply of goods (1) 16 18 Deposit with corporation 242 236 Escrow and other deposits pertaining to buyback (Refer to Note No 2.13) 37 — Deferred contract cost (1) 8 7 Other assets 32 14 827 662 Non-current Loans to employees 3 6 Security deposits 8 8 Deposits with corporation 10 9 Prepaid gratuity (Refer note 2.12.1) (1) 6 7 Prepaid expenses (1) 23 17 Deferred contract cost (1) 40 40 Advance towards purchase of business (1) 30 — Withholding taxes and others (1) 134 219 Rental deposits 28 26 282 332 1109 994 Financial assets in prepayments and other assets 529 456 (1) |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Other Liabilities [Abstract] | |
Schedule of Other Liabilities | Other liabilities comprise the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Current Accrued compensation to employees 372 385 Accrued expenses 480 376 Withholding taxes and others (1) 215 190 Retention money 16 20 Liabilities of controlled trusts 24 21 Liability towards contingent consideration (Refer note 2.9) 14 6 Financial liability on account of buyback (2) 174 — Deferred rent (1) 9 4 Capital creditors 98 24 Others 96 10 1,498 1,036 Non-current Liability towards contingent consideration (Refer note 2.9) 13 2 Accrued compensation to employees 3 — Accrued gratuity (Refer note 2.12.1) (1) 4 4 Deferred income - government grant on land use rights (1) 6 7 Deferred income (1) 4 5 Deferred rent (1) 25 24 55 42 1,553 1,078 Financial liabilities included in other liabilities 1,290 844 Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) 34 8 (1) (2) In accordance with IAS 32 Financial Instruments: Presentation, the Company has recorded a financial liability of $174 million for the obligation to acquire its own equity shares to the extent of standing instructions provided to its registered broker for the buyback as of March 31, 2019 (refer to note 2.13). The financial liability is recognised at the present value of the maximum amount that the Company would be required to pay to the registered broker for buy back, with a corresponding debit in general reserve / retained earnings . |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Other Provisions [Abstract] | |
Schedule of Provisions | Provisions comprise the following: (Dollars in millions) As of March 31, 2019 March 31, 2018 Provision for post sales client support and other provisions 83 75 83 75 |
Summary of Movement in the Provision for Post Sales Client Support and Other Provisions | The movement in the provision for post sales client support and other provisions is as follows: (Dollars in millions) Year ended March 31, 2019 Balance at the beginning 75 Translation differences — Provision recognized / (reversed) 24 Provision utilized (16 ) Balance at the end 83 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Schedule of Estimated Useful Lives of Assets | The estimated useful lives of assets are as follows: Buildings 22 - 25 years Plant and machinery (1) 5 years Computer equipment 3-5 years Furniture and fixtures 5 years Vehicles 5 years Leasehold improvements Over lease term (1) Includes solar plant with a useful life of 20 years. |
Schedule of Changes in Carrying Value of Property, Plant and Equipment | Following are the changes in the carrying value of property, plant and equipment for fiscal 2019: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2018 292 1,247 518 749 285 5 3,096 Additions 8 132 98 173 58 1 470 Additions- Business Combinations (Refer note 2.9) — — 1 4 2 — 7 Deletions (7 ) (17 ) (15 ) (35 ) (9 ) — (83 ) Reclassified from assets held for sale (refer note 2.9) — — — 6 4 — 10 Translation difference (17 ) (71 ) (30 ) (42 ) (17 ) (1 ) (178 ) Gross carrying value as of March 31, 2019 276 1,291 572 855 323 5 3,322 Accumulated depreciation as of April 1, 2018 (5 ) (417 ) (359 ) (557 ) (203 ) (3 ) (1,544 ) Depreciation (1 ) (45 ) (62 ) (109 ) (37 ) (1 ) (255 ) Accumulated depreciation on deletions — 15 12 23 6 — 56 Reclassified from assets held for sale (refer note 2.9) — — — (4 ) (3 ) — (7 ) Translation difference 1 24 19 31 12 1 88 Accumulated depreciation as of March 31, 2019 (5 ) (423 ) (390 ) (616 ) (225 ) (3 ) (1,662 ) Capital work-in-progress as of March 31, 2019 271 Carrying value as of March 31, 2019 271 868 182 239 98 2 1,931 Capital work-in-progress as of April 1, 2018 311 Carrying value as of April 1, 2018 287 830 159 192 82 2 1,863 Following are the changes in the carrying value of property, plant and equipment for fiscal 2018: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2017 272 1,123 466 700 261 5 2,827 Additions 21 122 56 73 29 1 302 Deletions — — (3 ) (17 ) (3 ) (1 ) (24 ) Reclassified under held for sale (refer note 2.9) — — — (6 ) (4 ) — (10 ) Translation difference (1 ) 2 (1 ) (1 ) 2 — 1 Gross carrying value as of March 31, 2018 292 1,247 518 749 285 5 3,096 Accumulated depreciation as of April 1, 2017 (4 ) (376 ) (301 ) (471 ) (168 ) (3 ) (1,323 ) Depreciation (1 ) (43 ) (62 ) (107 ) (40 ) (1 ) (254 ) Accumulated depreciation on deletions — — 2 17 3 1 23 Reclassified under held for sale (refer note 2.9) — — — 4 3 — 7 Translation difference — 2 2 — (1 ) — 3 Accumulated depreciation as of March 31, 2018 (5 ) (417 ) (359 ) (557 ) (203 ) (3 ) (1,544 ) Capital work-in-progress as of March 31, 2018 311 Carrying value as of March 31, 2018 287 830 159 192 82 2 1,863 Capital work-in-progress as of April 1, 2017 303 Carrying value as of April 1, 2017 268 747 165 229 93 2 1,807 Following are the changes in the carrying value of property, plant and equipment for fiscal 2017: (Dollars in millions) Land Buildings Plant and machinery Computer equipment Furniture and fixtures Vehicles Total Gross carrying value as of April 1, 2016 244 955 392 615 218 4 2,428 Additions 22 147 73 120 57 1 420 Deletions — — (8 ) (47 ) (17 ) (1 ) (73 ) Translation difference 6 21 9 12 3 1 52 Gross carrying value as of March 31, 2017 272 1,123 466 700 261 5 2,827 Accumulated depreciation as of April 1, 2016 (3 ) (332 ) (243 ) (395 ) (149 ) (3 ) (1,125 ) Depreciation (1 ) (35 ) (57 ) (101 ) (31 ) (1 ) (226 ) Accumulated depreciation on deletions — — 5 34 14 1 54 Translation difference — (9 ) (6 ) (9 ) (2 ) — (26 ) Accumulated depreciation as of March 31, 2017 (4 ) (376 ) (301 ) (471 ) (168 ) (3 ) (1,323 ) Capital work-in-progress as of March 31, 2017 303 Carrying value as of March 31, 2017 268 747 165 229 93 2 1,807 Capital work-in-progress as of April 1, 2016 286 Carrying value as of April 1, 2016 241 623 149 220 69 1 1,589 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Intangible Assets And Goodwill [Abstract] | |
Summary of Changes In Carrying Amount of Goodwill | Following is a summary of changes in the carrying amount of goodwill: (Dollars in millions) As of March 31, 2019 March 31, 2018 Carrying value at the beginning 339 563 Goodwill on Brilliant Basics acquisition (Refer to note 2.9) — 5 Goodwill on Wongdoody acquisition (Refer to note 2.9) 25 — Goodwill on Fluido acquisition (Refer to note 2.9) 32 — Goodwill reclassified (to)/from assets held for sale, net of reduction (Refer note no 2.9) 138 (247 ) Translation differences (22 ) 18 Carrying value at the end 512 339 |
Summary of Allocation of Goodwill to Operating Segments | The following table presents the allocation of goodwill to operating segments as at March 31, 2019 (Dollars in millions) As of March 31, Segments 2019 Financial services 108 Retail 63 Communication 56 Energy, utilities, Resources and Services 54 Manufacturing 34 315 Operating segments without significant goodwill 61 Total 376 |
Summary of Allocation of Goodwill to Operating Segments (Prior to Reorganization) | The following table presents the allocation of goodwill to operating segments (prior to reorganization) as at March 31, 2018: (Dollars in millions) As of March 31, Segments 2018 Financial services 73 Manufacturing 39 Retail, Consumer packaged goods and Logistics 48 Life Sciences, Healthcare and Insurance 68 Energy & utilities, Communication and Services 72 300 Operating segments without significant goodwill 39 Total 339 |
Summary of Key Assumptions Used for the Calculations | The key assumptions used for the calculations are as follows: (in %) March 31, 2019 March 31, 2018 Long term growth rate 8-10 8-10 Operating margins 17-20 17-20 Discount rate 12.5 13.5 |
Summary of Changes In Carrying Amount of Acquired Intangible Assets | Following are the changes in the carrying value of acquired intangible assets for fiscal 2019: (Dollars in millions) Customer related Software related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2018 68 3 11 4 4 90 Additions during the period — 1 — — — 1 Acquisition through business combination (Refer note no. 2.9) 47 — — 5 9 61 Reclassified under assets held for sale (Refer note no. 2.9) 24 60 — 6 — 90 Translation differences (3 ) — (1 ) (1 ) (1 ) (6 ) Gross carrying value as of March 31, 2019 136 64 10 14 12 236 Accumulated amortization as of April 1, 2018 (44 ) (3 ) (1 ) (2 ) (2 ) (52 ) Amortization expense (16 ) (13 ) — (1 ) (2 ) (32 ) Reduction in value (Refer note no. 2.9) (13 ) — — — — (13 ) Reclassified under assets held for sale (Refer note no. 2.9) (9 ) (28 ) — (3 ) — (40 ) Translation differences 1 — — — — 1 Accumulated amortization as of March 31, 2019 (81 ) (44 ) (1 ) (6 ) (4 ) (136 ) Carrying value as of March 31, 2019 55 20 9 8 8 100 Carrying value as of April 1, 2018 24 — 10 2 2 38 Estimated Useful Life (in years) 1-10 3-8 50 5-10 3-5 Estimated Remaining Useful Life (in years) 0-7 1 42 2-8 2-3 Following are the changes in the carrying value of acquired intangible assets for fiscal 2018: (Dollars in millions) Customer related Software related Sub- contracting right related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2017 116 62 3 10 14 10 215 Addition through business combination (refer note no. 2.9) 2 — — — — — 2 Deletion/ retirals (27 ) — (3 ) — (4 ) (5 ) (39 ) Reclassified under assets held for sale (Refer note no. 2.9) (24 ) (60 ) — — (6 ) — (90 ) Translation differences 1 1 — 1 — (1 ) 2 Gross carrying value as of March 31, 2018 68 3 — 11 4 4 90 Accumulated amortization as of April 1, 2017 (59 ) (19 ) (3 ) (1 ) (7 ) (6 ) (95 ) Amortization expense (20 ) (12 ) — — (2 ) (1 ) (35 ) Deletion/ retirals 27 — 3 — 4 5 39 Reclassified under assets held for sale (Refer note no. 2.9) 9 28 — — 3 — 40 Translation differences (1 ) — — — — — (1 ) Accumulated amortization as of March 31, 2018 (44 ) (3 ) — (1 ) (2 ) (2 ) (52 ) Carrying value as of March 31, 2018 24 — — 10 2 2 38 Carrying value as of April 1, 2017 57 43 — 9 7 4 120 Estimated Useful Life (in years) 2-10 — — 50 5 5 Estimated Remaining Useful Life (in years) 1-5 — — 43 3 3 Following are the changes in the carrying value of acquired intangible assets for fiscal 2017: (Dollars in millions) Customer related Software related Sub- contracting right related Land use rights related Marketing related Others Total Gross carrying value as of April 1, 2016 117 62 3 11 14 10 217 Translation differences (1 ) — — (1 ) — — (2 ) Gross carrying value as of March 31, 2017 116 62 3 10 14 10 215 Accumulated amortization as of April 1, 2016 (46 ) (9 ) (3 ) (1 ) (5 ) (4 ) (68 ) Amortization expense (14 ) (9 ) — — (2 ) (3 ) (28 ) Translation differences 1 (1 ) — — — 1 1 Accumulated amortization as of March 31, 2017 (59 ) (19 ) (3 ) (1 ) (7 ) (6 ) (95 ) Carrying value as of March 31, 2017 57 43 — 9 7 4 120 Carrying value as of April 1, 2016 71 53 — 10 9 6 149 Estimated Useful Life (in years) 3-10 5-8 — 50 3-10 3-5 Estimated Remaining Useful Life (in years) 1-6 3-6 — 44 1 -8 1-4 |
Business combinations and Dis_2
Business combinations and Disposal group held for sale (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Brilliant Basics Holdings Limited | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* — — — Intangible assets – customer relationships — 2 2 Deferred tax liabilities on intangible assets — — — — 2 2 Goodwill 5 Total purchase price 7 * Includes cash and cash equivalents acquired of less than $1 million |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Paid 4 Fair value of contingent consideration 3 Total purchase price 7 |
Wongdoody Holding Company Inc. | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 5 — 5 Intangible assets – customer contracts and relationships — 20 20 Intangible assets – Trade name — 1 1 5 21 26 Goodwill 25 Total purchase price 51 * Includes cash and cash equivalents acquired of $8 million. |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The fair value of each major class of consideration as of the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Consideration 38 Fair value of contingent consideration 13 Total purchase price 51 |
Infosys Compaz Pte Limited | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 13 — 13 Intangible assets – customer contracts and relationships — 6 6 Deferred tax liabilities on intangible assets — (1 ) (1 ) 13 5 18 Less: Non-controlling interests (7 ) Total purchase price 11 * Includes cash and cash equivalents acquired of $ 9 million. |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The fair value of each major class of consideration as at the acquisition date is as follows: (Dollars in millions) Component Consideration settled Cash Consideration 8 Fair value of contingent consideration 3 Total purchase price 11 |
Fluido Oy | |
Disclosure Of Business Combinations [Line Items] | |
Summary of Purchase Price Allocation | The purchase price has been allocated based on management’s estimates and independent appraisal of fair values as follows: (Dollars in millions) Component Acquiree's carrying amount Fair value adjustments Purchase price allocated Net Assets* 2 — 2 Intangible assets – customer contracts and relationships — 21 21 Intangible assets – Salesforce Relationships — 8 8 Intangible assets – Brand — 4 4 Deferred tax liabilities on intangible assets — (7 ) (7 ) 2 26 28 Goodwill 32 Total purchase price 60 * Includes cash and cash equivalents acquired of $ 4 million. |
Summary of Acquisition Date Fair Value of Each Major Class of Consideration | The fair value of each major class of consideration as of the acquisition date is as follows: (in $ million) Component Consideration settled Cash consideration 52 Fair value of contingent consideration 8 Total purchase price 60 |
Revenue from Operations (Tables
Revenue from Operations (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Revenue [Abstract] | |
Summary of Revenue | Revenues for fiscal 2019, 2018 and 2017 are as follows: (Dollars in millions) Year ended March 31, Particulars 2019 2018 2017 Revenue from software services 11,184 10,371 9,669 Revenue from products and platforms 615 568 539 11,799 10,939 10,208 |
Summary of Percentage of Revenues | The following table gives details in respect of percentage of revenues generated from top customer and top ten customers: (In %) Year ended March 31, 2019 2018 2017 Revenue from top customer 3.6 3.4 3.4 Revenue from top ten customers 19.0 19.3 21.0 The table below presents disaggregated revenues from contracts with customers by geography, offerings and contract-type for each of our business segments. The Group believes this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors. Year ended March 31, 2019 (Dollars in millions) Particulars Financial Services (1) Retail (2) Communication (3) Energy, Utilities, resources and Services Manufacturing Hi Tech Life Sciences (4) Others (5) Total Revenues by Geography North America 2,290 1,255 796 838 619 844 438 61 7,141 Europe 698 548 271 507 499 15 287 22 2,847 India 172 3 8 — 12 20 2 75 292 Rest of the world 618 129 413 138 33 3 16 169 1,519 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Revenue by offerings Services Digital 1,076 630 491 427 327 285 156 44 3,436 Core 2,293 1,255 971 1,026 805 584 539 275 7,748 Subtotal 3,369 1,885 1,462 1,453 1,132 869 695 319 11,184 Products and platforms Digital 104 43 25 10 20 12 29 6 249 Core 305 7 1 20 11 1 19 2 366 Subtotal 409 50 26 30 31 13 48 8 615 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Digital 1,180 673 516 437 347 297 185 50 3,685 Core 2,598 1,262 972 1,046 816 585 558 277 8,114 Revenues by contract type Fixed Price 1,655 1,223 903 861 596 450 347 162 6,197 Time & Materials 2,123 712 585 622 567 432 396 165 5,602 Total 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 (1) Financial Services include enterprises in Financial Services and Insurance (2) Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics (3) Communication includes enterprises in Communication, Telecom OEM and Media (4) Life Sciences includes enterprises in Life sciences and Health care (5) Others include operating segments of businesses in India, Japan, China, Infosys Public Services & other Public Service enterprises |
Expenses by Nature (Tables)
Expenses by Nature (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Expense By Nature [Abstract] | |
Disclosure of Detailed Information About Expenses by Nature Explanatory | (Dollars in millions) Year ended March 31, 2019 2018 2017 Employee benefit costs 6,468 6,034 5,612 Depreciation and amortization charges (Refer to Note 2.7 and 2.8) 287 289 254 Travelling costs 348 310 333 Cost of technical sub-contractors 860 666 571 Cost of software packages for own use 133 138 118 Third party items bought for service delivery to clients 231 152 120 Operating lease payments (Refer to Note 2.15) 83 82 73 Consultancy and professional charges 189 162 114 Communication costs 67 76 82 Repairs and maintenance 188 174 191 Rates and Taxes 27 25 22 Provision for post-sales client support — 22 12 Power and fuel 32 32 34 Commission to non-whole time directors 1 1 2 Branding and marketing expenses 69 47 51 Impairment loss recognized/(reversed) under expected credit loss model 35 11 21 Insurance charges 10 9 8 Contribution towards Corporate Social Responsibility 38 24 34 Others 37 26 36 Total cost of sales, selling and marketing expenses and administrative expenses 9,103 8,280 7,688 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Summary of Gratuity Plans Amount Recognized in Group's Financial Statements | The following tables set out the funded status of the gratuity plans and the amounts recognized in the Group’s financial statements as of March 31, 2019 and March 31, 2018: (Dollars in millions) As of March 31, 2019 March 31, 2018 Change in benefit obligations Benefit obligations at the beginning 184 172 Service cost 23 23 Interest expense 12 11 Remeasurements - Actuarial losses / (gains) 5 (9 ) Transfer — 4 Benefits paid (18 ) (17 ) Translation differences (11 ) — Benefit obligations at the end 195 184 Change in plan assets Fair value of plan assets at the beginning 187 184 Interest Income 13 12 Remeasurements – Returns on plan assets excluding amounts included in interest income 1 2 Contributions 25 5 Benefits paid (18 ) (17 ) Translation differences (11 ) 1 Fair value of plan assets at the end 197 187 Funded status 2 3 Prepaid gratuity benefit 6 7 Accrued gratuity (4 ) (4 ) |
Summary of Defined Benefit Plan | Net gratuity cost for fiscal 2019, 2018 and 2017 comprises the following components: (Dollars in millions) Year ended March 31, 2019 2018 2017 Service cost 23 23 19 Net interest on the net defined benefit liability / asset (1 ) (1 ) (2 ) Net gratuity cost 22 22 17 Amount for fiscal 2019, 2018 and 2017 recognized in statement of other comprehensive income: (Dollars in millions) Year ended March 31, 2019 2018 2017 Re-measurements of the net defined benefit liability / asset Actuarial (gains) / losses 5 (9 ) 10 (Return) / loss on plan assets excluding amounts included in the net interest on the net defined benefit liability / asset (1 ) (2 ) (2 ) Total 4 (11 ) 8 (Dollars in millions) Year ended March 31, 2019 2018 2017 (Gain) / loss from change in demographic assumptions — — — (Gain) / loss from change in financial assumptions 4 (6 ) 8 (Gain) / loss from change in experience adjustments 1 (3 ) 2 5 (9 ) 10 The gratuity cost recognized in the statement of comprehensive income apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost is as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 20 20 15 Selling and marketing expenses 1 1 1 Administrative expenses 1 1 1 22 22 17 Superannuation contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 28 24 22 Selling and marketing expenses 2 2 2 Administrative expenses 1 1 1 31 27 25 The details of the benefit obligation is given below: (Dollars in millions) As of March 31, 2019 March 31, 2018 Benefit obligation at the period end 866 792 Net liability recognized in Balance Sheet — — Provident fund contributions have been apportioned between cost of sales, selling and marketing expenses and administrative expenses on the basis of direct employee cost as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 69 67 61 Selling and marketing expenses 6 5 5 Administrative expenses 3 3 3 78 75 69 (1) Includes stock compensation expense of $29 million, $13 million and $17 million for fiscal respectively. (Refer to Note 2.16) The employee benefit cost is recognized in the following line items in the consolidated statement of comprehensive income: (Dollars in millions) Year ended March 31, 2019 2018 2017 Cost of sales 5,780 5,379 4,987 Selling and marketing expenses 462 425 405 Administrative expenses 226 230 220 6,468 6,034 5,612 |
Summary of Weighted-Average Assumptions | The weighted-average assumptions used to determine benefit obligations as of March 31, 2019 and March 31, 2018 are set out below: As of March 31, 2019 March 31, 2018 Discount rate 7.1 % 7.5 % Weighted average rate of increase in compensation levels 8.0 % 8.0 % Weighted average duration of defined benefit obligation 5.9 years 6.1 years The weighted-average assumptions used to determine net periodic benefit cost for fiscal 2019, 2018 and 2017 are set out below: Year ended March 31, 2019 2018 2017 Discount rate for the year 7.5 % 6.9 % 7.8 % Weighted average rate of increase in compensation levels 8.0 % 8.0 % 8.0 % Discount rate In India, the market for high quality corporate bonds being not developed, the yield of government bonds is considered as the discount rate. The tenure has been considered taking into account the past long-term trend of employees’ average remaining service life which reflects the average estimated term of the post- employment benefit obligations. Weighted average rate of increase in compensation levels The average rate of increase in compensation levels is determined by the Company, considering factors such as, the Company’s past compensation revision trends and management’s estimate of future salary increases. Attrition rate Attrition rate considered is the management’s estimate based on the past long-term trend of employee turnover in the Company. Assumptions used in determining the present value obligation of the interest rate guarantee under the Deterministic Approach: As of March 31, 2019 March 31, 2018 Government of India (GOI) bond yield 7.1 % 7.5 % Remaining term to maturity of portfolio 5.47 years 5.9 years Expected guaranteed interest rate First year 8.65 % 8.55 % Thereafter 8.60 % 8.55 % |
Summary of Sensitivity of Significant Assumptions Used for Valuation of Defined Benefit Obligation | Sensitivity of significant assumptions used for valuation of defined benefit obligation: (Dollars in millions) Impact from one percentage point increase / decrease in As at March 31, 2019 Discount rate 10 Weighted average rate of increase in compensation levels 8 |
Summary of Maturity Profile of Defined Benefit Obligation | Maturity profile of defined benefit obligation: (Dollars in millions) Within 1 year 29 1 - 2 year 30 2 - 3 year 31 3 - 4 year 32 4 - 5 year 34 5 - 10 years 168 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Equity [Abstract] | |
Summary of Dividend Payout | Effective from Financial Year 2018, the Company's policy is to payout up to 70% of the free cash flow of the corresponding Financial Year in such manner (including by way of dividend and / or share buyback) as may be decided by the Board from time to time, subject to applicable laws and requisite approvals, if any. Free cash flow is defined as net cash provided by operating activities less capital expenditure as per the consolidated statement of cash flows prepared under IFRS. Dividend payout includes dividend distribution tax. The following table provides details of per share dividend recognized during fiscal 2019, 2018 and 2017: Fiscal 2019 Fiscal 2018 Fiscal 2017 Dividend per Equity Share ( ₹ (2) Interim dividend (3) 7.00 6.50 5.50 Final dividend (4) 10.25 7.38 7.13 Special dividend (5) 9.00 — — Dividend per Equity Share/ADS ($) (1)(2) Interim dividend (3) 0.10 0.10 0.09 Final dividend (4) 0.16 0.12 0.11 Special dividend (5) 0.14 — — (1) (2) Adjusted for September 2018 bonus share issue, wherever applicable. (3) (4) Represents final dividend for the preceding fiscal year (5) Represents special dividend of ₹ ` |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Expense By Nature [Abstract] | |
Summary of Other Income | Other income consists of the following: (Dollars in millions) Year ended March 31, 2019 2018 2017 Interest income on financial assets carried at amortized cost 201 260 352 Interest income on financial assets fair valued through other comprehensive income 92 106 28 Dividend income on investments carried at fair value through profit or loss — 1 4 Gain / (loss) on investments carried at fair value through profit or loss 24 39 18 Exchange gains / (losses) on forward and options contracts 27 — 89 Exchange gains / (losses) on translation of other assets and liabilities 18 36 (54 ) Others 49 71 22 411 513 459 |
Schedule of Future Minimum Rent
Schedule of Future Minimum Rental Payments in Respect of Non-cancellable Operating Leases (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |
Schedule of Future Minimum Rental Payments in Respect of Non-cancellable Operating Leases | The schedule of future minimum rental payments in respect of non-cancellable operating leases is set out below: (Dollars in millions) As of March 31, 2019 March 31, 2018 Within one year of the balance sheet date 90 70 Due in a period between one year and five years 259 213 Due after five years 128 134 |
Employees' Stock Option Plans_2
Employees' Stock Option Plans (ESOP) (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Summary of Share Option Grant | The following is the summary of grants made during fiscal 2019, 2018 and 2017 under the 2015 Plan: Particulars Fiscal 2019 Fiscal 2018 Fiscal 2017 RSU and ESOP Salil Parekh, CEO and MD - Refer Note 1 below 260,130 226,048 — U.B. Pravin Rao, COO and WTD- Refer Note 2 below 68,250 140,500 — Dr.Vishal Sikka* — 1,201,498 241,400 Other KMP** 368,100 631,100 1,497,600 Employees other than KMP 3,644,220 3,345,220 6,422,080 4,340,700 5,544,366 8,161,080 Incentive units- cash settled Other employees 74,090 100,080 224,420 74,090 100,080 224,420 Total grants 4,414,790 5,644,446 8,385,500 Information in the table above is adjusted for September 2018 bonus issue, wherever applicable. * Upon Dr. Vishal Sikka's resignation from the roles of the company, the unvested RSUs and ESOPs have been forfeited ** Refer note 2.19 for details on appointment and resignation of KMPs |
Schedule of Break-up of Employee Stock Compensation Expense | Break-up of employee stock compensation expense (Dollars in millions) Year ended March 31, 2019 2018 2017 Granted to: KMP (1) 5 (2 ) 5 Employees other than KMP 24 15 12 Total 29 13 17 Cash settled stock compensation expense included in the above 1 1 — (1) Included a reversal of stock compensation cost of $5 million for fiscal 2018, towards forfeiture of stock incentives granted to Dr. Vishal Sikka upon his resignation. The carrying value of liability towards cash settled share based payments was $1 million each respectively as at March 31, 2019 and March 31, 2018. |
Restricted Stock Units (RSUs) | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Summary of Fair Value estimated on Date of Grant | The fair value of each equity settled award is estimated on the date of grant using the Black-Scholes-Merton model with the following assumptions: For options granted in Particulars Fiscal 2019- Equity Shares-RSU Fiscal 2019- ADS- RSU Weighted average share price ( ₹ 696 10.77 Exercise price ( ₹ 3.31 0.06 Expected volatility (%) 21-25 22-26 Expected life of the option (years) 1-4 1-4 Expected dividends (%) 2.65 2.65 Risk-free interest rate (%) 7-8 2-3 Weighted average fair value as on grant date ( ₹ 648 10.03 For options granted in Particulars Fiscal 2018- Equity Shares-RSU Fiscal 2018- Equity shares ESOP Fiscal 2018- ADS-RSU Fiscal 2018- ADS- ESOP Weighted average share price ( ₹ 572 461 8.31 7.32 Exercise price ( ₹ 2.50 459 0.04 7.33 Expected volatility (%) 20-25 25-28 21-26 25-31 Expected life of the option (years) 1 - 4 3 - 7 1 - 4 3 - 7 Expected dividends (%) 2.78 2.78 2.74 2.74 Risk-free interest rate (%) 6 - 7 6 - 7 1 - 2 1 - 2 Weighted average fair value as on grant date ( ₹ 533 127 7.74 1.47 For options granted in Particulars Fiscal 2017- Equity Shares-RSU Fiscal 2017- Equity shares ESOP Fiscal 2017- ADS-RSU Fiscal 2017- ADS- ESOP Weighted average share price ( ₹ 534 494.5 7.89 7.63 Exercise price ( ₹ 2.50 499 0.035 7.63 Expected volatility (%) 24-29 27-29 26-29 27-31 Expected life of the option (years) 1-4 3 - 7 1 - 4 3 - 7 Expected dividends (%) 2.37 2.37 2.29 2.29 Risk-free interest rate (%) 6-7 6 - 7 1 - 2 1 - 2 Weighted average fair value as on grant date ( ₹ 501 142.5 7.42 1.73 * Adjusted for September 2018 bonus issue |
2015 Stock Incentive Compensation Plan | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Schedule of Equity Settled Share Based Payment Transaction | The activity in the 2015 Plan (formerly 2011 RSU Plan) for equity-settled share based payment transaction during fiscal 2019 is set out below: Year ended March 31, 2019 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning 7,500,818 0.04 Granted 4,340,700 0.05 Exercised 1,864,510 0.04 Forfeited and expired 795,810 0.04 Outstanding at the end 9,181,198 0.05 Exercisable at the end 235,256 0.04 2015 Plan-ESOP Outstanding at the beginning 1,933,826 7.62 Granted — — Exercised 117,350 7.35 Forfeited and expired 193,300 7.43 Outstanding at the end 1,623,176 7.46 Exercisable at the end 698,500 7.46 Information in the above table is adjusted for September 2018 bonus issue, wherever applicable. The activity in the 2015 Plan for equity-settled share based payment transaction during fiscal 2018 is set out below: Year ended March 31, 2018 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning 5,922,746 0.04 Granted 4,561,216 0.04 Exercised 1,296,434 0.04 Forfeited and expired 1,686,710 0.04 Outstanding at the end 7,500,818 0.04 Exercisable at the end 48,410 0.04 2015 Plan-ESOP Outstanding at the beginning 2,395,300 7.63 Granted 983,150 7.31 Exercised 104,824 7.63 Forfeited and expired 1,339,800 7.42 Outstanding at the end 1,933,826 7.62 Exercisable at the end 393,824 7.63 Information in the above table is adjusted for September 2018 bonus issue. The activity in the 2015 Plan for equity-settled share based payment transaction during fiscal 2017 is set out below: Year ended March 31, 2017 Shares arising out of options Weighted average exercise price($) 2015 Plan -RSU Outstanding at the beginning 443,010 0.04 Granted 5,749,380 0.04 Forfeited and expired 201,520 0.04 Exercised 68,124 — Outstanding at the end 5,922,746 0.04 Exercisable at the end — — 2015 Plan-ESOP Outstanding at the beginning — — Granted 2,411,700 7.63 Forfeited and expired 16,400 7.63 Exercised — — Outstanding at the end 2,395,300 7.63 Exercisable at the end — — Information in the above table is adjusted for September 2018 bonus issue. |
Schedule of Equity Settled RSUs and ESOPs Outstanding | The following table summarizes information about equity settled RSUs and ESOPs outstanding as of March 31, 2019: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: ADS and IES 0 - 0.07 (RSU) 9,181,198 1.70 0.05 6 - 8 (ESOP) 1,623,176 5.04 7.46 10,804,374 2.20 1.16 Information in the above table is adjusted for September 2018 bonus issue, wherever applicable. The following table summarizes information about equity settled RSUs and ESOPs outstanding as at March 31, 2018: Options outstanding Range of exercise prices per share ($) No. of shares arising out of options Weighted average remaining contractual life Weighted average exercise price ($) 2015 Plan: 0 - 0.04 (RSU) 7,500,818 1.89 0.04 6 - 8 (ESOP) 1,933,826 6.60 7.62 9,434,644 2.57 1.59 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Major Components Of Tax Expense Income [Abstract] | |
Schedule of Income Tax Expense | Income tax expense in the consolidated statement of comprehensive income comprises: (Dollars in millions) Year ended March 31, 2019 2018 2017 Current taxes Domestic taxes 600 721 616 Foreign taxes 217 (12 ) 226 817 709 842 Deferred taxes Domestic taxes 3 (80 ) (1 ) Foreign taxes (17 ) 28 (7 ) (14 ) (52 ) (8 ) Income tax expense 803 657 834 |
Summary of Reconciliation of Income Tax Provision to Amount Computed by Applying Statutory Income Tax Rate to Income Before Income Taxes | A reconciliation of the income tax provision to the amount computed by applying the statutory income tax rate to the income before income taxes is summarized below: (Dollars in millions) Year ended March 31, 2019 2018 2017 Profit before income taxes 3,003 3,143 2,974 Enacted tax rates in India 34.94 % 34.61 % 34.61 % Computed expected tax expense 1,049 1,088 1,029 Tax effect due to non-taxable income for Indian tax purposes (386 ) (321 ) (295 ) Overseas taxes 102 109 112 Tax provision (reversals) (25 ) (253 ) (23 ) Effect of differential overseas tax rates — 8 10 Effect of exempt non-operating income (8 ) (10 ) (10 ) Effect of unrecognized deferred tax assets 13 29 14 Effect of non-deductible expenses 50 9 4 Branch profit tax (net of credits) 4 (32 ) — Subsidiary dividend distribution tax — 27 — Others 4 3 (7 ) Income tax expense 803 657 834 |
Summary of Expiration of Unused Tax Losses | The following table provides details of expiration of unused tax losses for fiscal 2019: Dollars in millions Year 2020 25 2021 11 2022 20 2023 29 2024 27 Thereafter 267 Total 379 The following table provides details of expiration of unused tax losses for fiscal 2018: Dollars in millions Year 2019 14 2020 37 2021 12 2022 21 2023 39 Thereafter 174 Total 297 |
Summary of Income Tax Assets and Income Tax Liabilities | The following table provides the details of income tax assets and income tax liabilities as of March 31, 2019 and March 31, 2018: (Dollars in millions) As of March 31, 2019 March 31, 2018 Income tax assets 975 931 Current income tax liabilities (227 ) (314 ) Net current income tax assets / (liabilities) at the end 748 617 The gross movement in the current income tax asset / (liability) for fiscal 2019, 2018 and 2017 is as follows: (Dollars in millions) Year ended March 31, 2019 2018 2017 Net current income tax asset / (liability) at the beginning 617 282 274 Translation differences (34 ) (8 ) 6 Income tax paid 975 1,059 843 Current income tax expense (817 ) (709 ) (842 ) Income tax on other comprehensive income 1 (2 ) 1 Reclassified under assets held for sale (refer note no 2.9) 3 (5 ) — Reclassified from held for sale (Refer note 2.9) 2 — — Income tax benefit arising on exercise of stock options 1 — — Tax impact on buyback expenses 1 — — Additions through business combination (1 ) — — Net current income tax asset / (liability) at the end 748 617 282 |
Summary of Movement in Gross Deferred Income Tax Assets and Liabilities | The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2019 is as follows: (Dollars in millions) Carrying value as of April 1, 2018 Changes through profit and loss Addition through business combination Changes through OCI Reclassified from Held for Sale Translation difference Carrying value as of March 31, 2019 Deferred income tax assets Property, plant and equipment 33 7 — — — (2 ) 38 Accrued compensation to employees 2 2 — — — — 4 Trade receivables 22 5 — — — (1 ) 26 Compensated absences 56 4 — — — (3 ) 57 Post sales client support 15 1 — — — (1 ) 15 Derivative financial instruments 2 (2 ) — 1 — — 1 Intangibles 1 1 — — — — 2 Credits related to branch profits 52 (3 ) — — — — 49 Others 18 11 — 1 5 (2 ) 33 201 26 — 2 5 (9 ) 225 Deferred income tax liabilities Intangible asset (6 ) 9 (8 ) — (12 ) (2 ) (19 ) Branch profit tax (77 ) (1 ) — — — — (78 ) Derivative financial instruments — (14 ) — (2 ) — — (16 ) Others (4 ) (6 ) (1 ) — (1 ) 1 (11 ) (87 ) (12 ) (9 ) (2 ) (13 ) (1 ) (124 ) The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2018 is as follows: (Dollars in millions) Carrying value as of April 1, 2017 Changes through profit and loss Changes through OCI Reclassified as Held for Sale Translation difference Carrying value as of March 31, 2018 Deferred income tax assets Property, plant and equipment 21 12 — — — 33 Computer software 6 (6 ) — — — — Accrued compensation to employees 9 (8 ) — — 1 2 Trade receivables 21 1 — — — 22 Compensated absences 58 — — — (2 ) 56 Post sales client support 15 — — — — 15 Derivative financial instruments — 2 — — — 2 Intangibles 3 (3 ) — — 1 1 Credits related to branch profits — 53 — — (1 ) 52 Others 22 (2 ) — (5 ) 3 18 155 49 — (5 ) 2 201 Deferred income tax liabilities Intangible asset (32 ) 13 — 13 — (6 ) Branch profit tax (50 ) (25 ) — — (2 ) (77 ) Derivative financial instruments (11 ) 11 — — — — Others (11 ) 4 2 — 1 (4 ) (104 ) 3 2 13 (1 ) (87 ) The movement in gross deferred income tax assets and liabilities (before set off) for fiscal 2017 is as follows: (Dollars in millions) Carrying value as of April 1, 2016 Changes through profit and loss Changes through OCI Translation difference Carrying value as of March 31, 2017 Deferred income tax assets Property, plant and equipment 27 (6 ) — — 21 Computer software 8 (2 ) — — 6 Accrued compensation to employees 10 — — (1 ) 9 Trade receivables 13 8 — — 21 Compensated absences 59 (3 ) — 2 58 Post sales client support 12 3 — — 15 Intangibles 1 2 — — 3 Others 7 14 — 1 22 137 16 — 2 155 Deferred income tax liabilities Intangible asset (38 ) 6 — — (32 ) Branch profit tax (51 ) — — 1 (50 ) Derivative financial instruments — (11 ) — — (11 ) Others * (6 ) (3 ) (1 ) (1 ) (11 ) (95 ) (8 ) (1 ) — (104 ) * included in others is the impact on adoption of IFRS 9 of $1 million The tax effects of significant temporary differences that resulted in deferred income tax assets and liability is as follows: (Dollars in millions) As of March 31, 2019 March 31, 2018 Deferred income tax assets after set off 199 196 Deferred income tax liabilities after set off (98 ) (82 ) |
Reconciliation of Basic And D_2
Reconciliation of Basic And Diluted Shares Used In Computing Earnings Per Equity Share (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Table of Equity Shares Used in Computation of Basic and Diluted Earnings Per Equity Share | The following is a reconciliation of the equity shares used in the computation of basic and diluted earnings per equity share: Year ended March 31, 2019 2018 2017 Basic earnings per equity share - weighted average number of equity shares outstanding (1)(2) 4,347,130,157 4,510,664,644 4,571,278,894 Effect of dilutive common equivalent shares - share options outstanding 6,290,615 4,483,096 1,514,596 Diluted earnings per equity share - weighted average number of equity shares and common equivalent shares outstanding 4,353,420,772 4,515,147,740 4,572,793,490 (1) excludes treasury shares (2) adjusted for bonus shares, wherever applicable Refer to note 2.13 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Related Party Transactions | List of subsidiaries: Holding as of Particulars Country March 31, 2019 March 31, 2018 Infosys Technologies (China) Co. Limited (Infosys China) China 100 % 100 % Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) Mexico 100 % 100 % Infosys Technologies (Sweden) AB. (Infosys Sweden) Sweden 100 % 100 % Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) China 100 % 100 % Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) Brazil 100 % 100 % Infosys Nova Holdings LLC. (Infosys Nova) U.S. 100 % 100 % EdgeVerve Systems Limited (EdgeVerve) India 100 % 100 % Infosys Austria GmbH (1) Austria 100 % 100 % Skava Systems Pvt. Ltd. (Skava Systems) India 100 % 100 % Kallidus Inc. (Kallidus) U.S. 100 % 100 % Infosys Chile SpA (2) Chile 100 % — Infosys Arabia Limited (3) Saudi Arabia 70 % 70 % Infosys Consulting Ltda. (3) Brazil 99.99 % 99.99 % Infosys CIS LLC (1)(22) Russia — — Infosys Luxembourg S.a.r.l (1)(17) Luxembourg 100 % — Infosys Americas Inc., (Infosys Americas) U.S. 100 % 100 % Infosys Technologies (Australia) Pty. Limited (Infosys Australia) (4) Australia 100 % 100 % Infosys Public Services, Inc. USA (Infosys Public Services) U.S. 100 % 100 % Infosys Canada Public Services Inc (23) Canada — — Infosys Canada Public Services Ltd (24) Canada — — Infosys BPM Limited (formerly Infosys BPO Limited) India 99.98 % 99.98 % Infosys (Czech Republic) Limited s.r.o. (5) Czech Republic 99.98 % 99.98 % Infosys Poland, Sp z.o.o (5) Poland 99.98 % 99.98 % Infosys McCamish Systems LLC (5) U.S. 99.98 % 99.98 % Portland Group Pty Ltd (5) Australia 99.98 % 99.98 % Infosys BPO Americas LLC. (5) U.S. 99.98 % 99.98 % Infosys Consulting Holding AG (Infosys Lodestone) Switzerland 100 % 100 % Lodestone Management Consultants Inc. (6)(15) U.S. — 100 % Infosys Management Consulting Pty Limited (6) Australia 100 % 100 % Infosys Consulting AG (6) Switzerland 100 % 100 % Infosys Consulting GmbH (6) Germany 100 % 100 % Infosys Consulting SAS (6) France 100 % 100 % Infosys Consulting s.r.o. (6) Czech Republic 100 % 100 % Infosys Consulting (Shanghai) Co., Ltd.(formerly Lodestone Management Consultants Co., Ltd) (6) China 100 % 100 % Infy Consulting Company Ltd (6) U.K. 100 % 100 % Infy Consulting B.V. (6) The Netherlands 100 % 100 % Infosys Consulting Sp. z.o.o (6) Poland 100 % 100 % Lodestone Management Consultants Portugal, Unipessoal, Lda. (6) Portugal 100 % 100 % S.C. Infosys Consulting S.R.L. (1) Romania 100 % 100 % Infosys Consulting S.R.L. (6) Argentina 100 % 100 % Infosys Consulting (Belgium) NV (7) Belgium 99.90 % 99.90 % Panaya Inc. (Panaya) U.S. 100 % 100 % Panaya Ltd. (8) Israel 100 % 100 % Panaya GmbH (8) Germany 100 % 100 % Panaya Japan Co. Ltd (4)(8) Japan 100 % 100 % Noah Consulting LLC (Noah) (9) U.S. — — Noah Information Management Consulting Inc. (Noah Canada) (10) Canada — — Brilliant Basics Holdings Limited (Brilliant Basics) (11) U.K. 100 % 100 % Brilliant Basics Limited (12) U.K. 100 % 100 % Brilliant Basics (MENA) DMCC (12) Dubai 100 % 100 % Infosys Consulting Pte Limited (Infosys Singapore) (1) Singapore 100 % 100 % Infosys Middle East FZ LLC (13) Dubai 100 % 100 % Fluido Oy (13)(18) Finland 100 % — Fluido Sweden AB (Extero) (19) Sweden 100 % — Fluido Norway A/S (19) Norway 100 % — Fluido Denmark A/S (19) Denmark 100 % — Fluido Slovakia s.r.o (19) Slovakia 100 % — Fluido Newco AB (19) Sweden 100 % — Infosys Compaz Pte. Ltd (formerly Trusted Source Pte. Ltd) (20) Singapore 60 % — Infosys South Africa (Pty) Ltd (13)(21) South Africa — — WongDoody Holding Company Inc. (WongDoody) (14) U.S. 100 % — WDW Communications, Inc (16) U.S. 100 % — WongDoody, Inc (16) U.S. 100 % — (1) Wholly-owned subsidiary of Infosys Limited (2) Incorporated effective November 20, 2017 (3) Majority owned and controlled subsidiary of Infosys Limited (4) Under liquidation (5) Wholly owned subsidiary of Infosys BPM (6) (7) (8) Wholly owned subsidiary of Panaya Inc. (9) (10) Wholly owned subsidiary of Noah. Liquidated effective December 20, 2017 (11) On September 8, 2017, Infosys acquired 100% of the voting interests in Brilliant Basics Holding Limited (12) (13) (1 4 ) (15) (16) (17) (18) On October 11, 2018, Infosys Consulting Pte. Ltd, acquired 100% of the voting interests in Fluido Oy and its subsidiaries (19 ) (20 ) (21) (22) (23) (24) ) List of other related parties: Particulars Country Nature of relationship Infosys Limited Employees' Gratuity Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Provident Fund Trust India Post-employment benefit plan of Infosys Infosys Limited Employees' Superannuation Fund Trust India Post-employment benefit plan of Infosys Infosys BPM Limited Employees’ Superannuation Fund Trust India Post-employment benefit plan of Infosys BPM Infosys BPM Limited Employees’ Gratuity Fund Trust India Post-employment benefit plan of Infosys BPM EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust India Post-employment benefit plan of EdgeVerve EdgeVerve Systems Limited Employees’ Superannuation Fund Trust India Post-employment benefit plan of EdgeVerve Infosys Employees’ Welfare Trust India Controlled Trust Infosys Employee Benefits Trust India Controlled Trust Infosys Science Foundation India Controlled Trust |
Summary of Related Party Transactions | Transactions with Key Managerial Personnel (KMP) The table below describes the related party transactions with key management personnel which comprises directors and executive officers under IAS 24: (Dollars in millions) Particulars Year ended March 31, 2019 2018 2017 Salaries and other employee benefits to whole-time directors and executive officers (1)(2) (3) (4) 14 8 12 Commission and other benefits to non-executive / independent directors 1 2 2 Total 15 10 14 (1) (2) for (3 ) (4 ) |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Disclosure Of Operating Segments [Abstract] | |
Schedule of Segmented Information | 2.20.1 Business segments (Dollars in millions) Year ended March 31, 2019 Financial Services Retail Communication Energy, Utilities, Resources and Services Manufacturing Hi-Tech Life Science All other segments Total Revenues 3,778 1,935 1,488 1,483 1,163 882 743 327 11,799 Identifiable operating expenses 2,021 974 816 808 644 506 394 202 6,365 Allocated expenses 775 385 312 312 255 154 147 109 2,449 Segment profit 982 576 360 363 264 222 202 16 2,985 Unallocable expenses 289 Operating profit 2,696 Other income, net (refer note no. 2.14 and 2.9) 411 Reduction in the fair value of Disposal Group held for sale (Refer Note 2.9) (39 ) Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" (Refer Note 2.9) (65 ) Profit before Income taxes 3,003 Income tax expense 803 Net profit 2,200 Depreciation and amortisation 287 Non-cash expenses other than depreciation and amortisation 107 (Dollars in millions) Year ended March 31, 2018 Financial Services Retail Communication Energy, Utilities, Resources and Services Manufacturing Hi-Tech Life Science All other segments Total Revenues 3,594 1,760 1,378 1,287 1,035 796 729 360 10,939 Identifiable operating expenses 1,876 878 702 652 602 431 378 208 5,727 Allocated expenses 731 371 269 261 235 140 135 122 2,264 Segment profit 987 511 407 374 198 225 216 30 2,948 Unallocable expenses 289 Operating profit 2,659 Other income, net (refer note no. 2.14 and 2.9) 513 Reduction in the fair value of Disposal Group held for sale (Refer Note 2.9) (18 ) Share in associate's profit / (loss) including impairment (11 ) Profit before Income taxes 3,143 Income tax expense 657 Net profit 2,486 Depreciation and amortisation 289 Non-cash expenses other than depreciation and amortisation 29 (Dollars in millions) Year ended March 31, 2017 Financial Services Retail Communication Energy, Utilities, Resources and Services Manufacturing Hi-Tech Life Science All other segments Total Revenues 3,357 1,711 1,253 1,137 948 772 661 369 10,208 Identifiable operating expenses 1,747 863 602 552 538 403 328 220 5,253 Allocated expenses 701 368 257 245 213 134 129 133 2,180 Segment profit 909 480 394 340 197 235 204 16 2,775 Unallocable expenses 255 Operating profit 2,520 Other income, net 459 Share in associate's profit / (loss) including impairment (5 ) Profit before Income taxes 2,974 Income tax expense 834 Net profit 2,140 Depreciation and amortisation 254 Non-cash expenses other than depreciation and amortisation 1 |
Summary of Revenue by Geography | 2.20.2 Revenue by Geography The following table sets forth our revenue by geography for fiscal 2019, 2018 and 2017 : (Dollars in millions) North America Europe India Rest of the World Total 2019 7,141 2,847 292 1,519 11,799 2018 6,605 2,596 346 1,392 10,939 2017 6,320 2,295 325 1,268 10,208 |
Overview - Additional Informati
Overview - Additional Information (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2019USD ($) | |
Overview [Abstract] | |
Name of reporting entity | Infosys Limited |
Description of nature of entity's operations and principal activities | Infosys Limited ('the Company' or Infosys) is a leading provider of consulting, technology, outsourcing and next-generation digital services, enabling clients to execute strategies for their digital transformation. Infosys strategic objective is to build a sustainable organization that remains relevant to the agenda of clients, while creating growth opportunities for employees and generating profitable returns for investors. Infosys strategy is to be a navigator for our clients as they ideate, plan and execute on their journey to a digital future. |
Domicile of entity | India |
Address of entity's registered office | Bengaluru, Karnataka, India |
Approximate amount of right-of-use assets | $ 395 |
Net investment in sub-lease | 60 |
Lease liabilities | $ 495 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalent (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Cash And Cash Equivalents [Abstract] | ||||
Cash and bank deposits | $ 2,052 | $ 2,021 | ||
Deposits with financial institutions | 777 | 1,020 | ||
Cash and cash equivalents | 2,829 | 3,041 | ||
Cash and cash equivalents included under assets classified as held for sale (Refer note no 2.9) | 8 | |||
Cash and cash equivalents | $ 2,829 | $ 3,049 | $ 3,489 | $ 4,935 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 |
Cash And Cash Equivalents [Abstract] | |||
Restricted cash and bank balances | $ 52 | $ 82 | $ 88 |
Cash and Cash Equivalents - Det
Cash and Cash Equivalents - Details of Cash and Cash Equivalent (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Cash And Cash Equivalent [Line Items] | ||
Cash | $ 421 | $ 418 |
Deposit accounts | 1,631 | 1,603 |
Deposits with financial institution | 777 | 1,020 |
Cash and cash equivalents | 2,829 | 3,041 |
ANZ Bank, Taiwan | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Axis Bank - Unpaid Dividend Account | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Banamex Bank, Mexico (U.S. Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 2 |
Banamex Bank, Mexico | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Bank of America, USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 168 | 180 |
Bank of America, Mexico | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 15 | 4 |
Bank of Zachodni WBK S.A., Poland | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | |
Bank of Leumni , Israel | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Barclays Bank, UK | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | 6 |
BNP Paribas Bank, Norway | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 14 |
China Merchants Bank, China | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., Australia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 13 | 34 |
Citibank N.A., Brazil | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 2 |
Citibank N.A., China | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 10 | 18 |
Citibank N.A., China (U.S. Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 1 |
Citibank N.A., Dubai | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 1 |
Citibank N.A., EEFC (U.S. Dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., Hungary | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., Japan | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 3 |
Citibank N.A., New Zealand | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
Citibank N.A., South Africa | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 5 |
Citibank N.A., Portugal | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Citibank N.A., USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Citibank N.A., Singapore | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 11 | 1 |
Deutsche Bank, Belgium | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 4 |
Deutsche Bank, Malaysia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Citibank N.A., South Korea | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
Deutsche Bank, Czech Republic | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 2 |
Citibank N.A., Luxembourg | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Deutsche Bank, Czech Republic (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, Czech Republic (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | |
Deutsche Bank, France | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 3 |
Deutsche Bank, Germany | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 16 | 16 |
Deutsche Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | 7 |
Deutsche Bank, Netherlands | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 2 |
Deutsche Bank, Philippines | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 4 |
Deutsche Bank, Philippines (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Deutsche Bank, Poland (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, Poland (PLN account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 3 |
Deutsche Bank, Singapore | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 3 |
Deutsche Bank, Switzerland | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 5 |
Deutsche Bank, Russia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, United Kingdom | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | 12 |
Deutsche Bank, Russia (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Deutsche Bank-EEFC (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 5 |
Deutsche Bank-EEFC (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 31 | 5 |
Deutsche Bank-EEFC, India (United Kingdom Pound Sterling account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 1 |
Deutsche Bank, USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 9 | |
ICICI Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 6 | 8 |
Deutsche Bank, EEFC (Swiss Franc account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
ICICI Bank-EEFC, India (U.S. dollar account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 5 | 6 |
ICICI Bank - Unpaid dividend account | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 4 | 3 |
Nordbanken, Sweden | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 7 | 8 |
ICICI Bank-EEFC, (United Kingdom pound sterling account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | 2 |
HSBC Bank, United Kingdom | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | 1 |
Raiffeisen Bank, Czech Republic | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Royal Bank of Canada, Canada | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 20 | 26 |
ICICI Bank, EEFC (Euro account) | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Punjab National Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
HSBC Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Kotak Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 1 | |
Silicon Valley Bank, USA | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | |
Nordea | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 3 | |
Splitska Banka D.D., Societe Generale Group, Croatia | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 2 | 1 |
Washington Trust Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Cash | 7 | |
Axis Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 134 | |
Bank BGZ BNP Paribas S.A | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 34 | 22 |
Barclays Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 72 | 31 |
Canara Bank, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 19 | 36 |
Citibank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 26 | 35 |
Deutsche Bank, AG | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 4 | |
Deutsche Bank, Poland | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 18 | 32 |
HDFC Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 7 | 383 |
HSBC Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 29 | |
ICICI Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 469 | 568 |
IDBI Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 38 | |
IDFC Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 354 | 230 |
Indusind Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 80 | 154 |
Kotak Mahindra Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 72 | |
South Indian Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 25 | 69 |
Washington Trust Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 3 | |
Yes Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 1 | |
Standard Chartered Bank | ||
Cash And Cash Equivalent [Line Items] | ||
Deposit accounts | 289 | |
HDFC Limited, India | ||
Cash And Cash Equivalent [Line Items] | ||
Deposits with financial institution | 600 | 836 |
LIC Housing Finance Limited | ||
Cash And Cash Equivalent [Line Items] | ||
Deposits with financial institution | $ 177 | $ 184 |
Investments - Schedule of Carry
Investments - Schedule of Carrying Value of Investments (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | $ 958 | $ 982 |
Carrying value of investments, Non-Current | 670 | 883 |
Total Investments | 1,628 | 1,865 |
Investment carried at amortized cost | 277 | 291 |
Investments carried at fair value through other comprehensive income | 1,022 | 1,484 |
Investments carried at fair value through profit and loss | 329 | 90 |
Cost | Quoted Debt Securities | Amortized Cost | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 3 | |
Carrying value of investments, Non-Current | 274 | 291 |
Fair Value | Quoted Debt Securities | Fair Value Through Other Comprehensive Income | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 267 | 117 |
Carrying value of investments, Non-Current | 310 | 493 |
Fair Value | Liquid Mutual Funds | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 258 | 12 |
Fair Value | Unquoted Preference Securities | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | 3 | |
Fair Value | Commercial Paper | Fair Value Through Other Comprehensive Income | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 72 | 45 |
Fair Value | Certificates of Deposit | Fair Value Through Other Comprehensive Income | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Current | 358 | 808 |
Fair Value | Unquoted Equity and Preference Securities | Fair Value Through Other Comprehensive Income | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | 15 | 21 |
Fair Value | Unquoted Convertible Promissory Note | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | 2 | |
Fair Value | Fixed Maturity Plan Securities | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | 66 | 66 |
Fair Value | Others | Fair Value Through Profit or Loss [Member] | ||
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items] | ||
Carrying value of investments, Non-Current | $ 2 | $ 10 |
Investments - Schedule of Car_2
Investments - Schedule of Carrying Value of Investments (Parentheticals) (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Abstract] | ||
Uncalled capital commitments outstanding | $ 12 | $ 12 |
Investments - Schedule of Amoun
Investments - Schedule of Amounts Recorded in Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | ||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | ||||
Other comprehensive income, Net | [1] | $ (2) | ||
Quoted Debt Securities | ||||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | ||||
Other comprehensive income, Gross | $ 1 | $ (2) | (1) | |
Other comprehensive income, Net | 1 | (2) | (1) | |
Certificates of Deposit | ||||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | ||||
Other comprehensive income, Gross | (1) | 3 | (1) | |
Other comprehensive income, Tax | (1) | |||
Other comprehensive income, Net | (1) | 2 | (1) | |
Unquoted Equity and Preference Securities | ||||
Disclosure Of Analysis Of Other Comprehensive Income By Item [Line Items] | ||||
Other comprehensive income, Gross | 9 | 1 | (1) | |
Other comprehensive income, Tax | 1 | |||
Other comprehensive income, Net | $ 10 | $ 1 | $ (1) | |
[1] | net of taxes |
Investments - Schedule of Metho
Investments - Schedule of Method of Fair Valuation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Fair value | $ 1,658 | $ 1,904 |
Mutual Funds | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Quoted price | |
Fair value | $ 258 | 12 |
Fixed Maturity Plan Securities | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Market observable inputs | |
Fair value | $ 66 | 66 |
Quoted Debt Securities- Carried at Amortized Cost | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Quoted price and market observable inputs | |
Fair value | $ 307 | 330 |
Quoted Debt Securities Carried At F V O C I | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Quoted price and market observable inputs | |
Fair value | $ 577 | 610 |
Commercial Paper | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Market observable inputs | |
Fair value | $ 72 | 45 |
Certificates of Deposit | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Market observable inputs | |
Fair value | $ 358 | 808 |
Unquoted Convertible Promissory Note | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model, etc | |
Fair value | 2 | |
Unquoted Equity And Preference Securities At FVOCI | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model, etc | |
Fair value | $ 15 | 21 |
Others | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model, etc | |
Fair value | $ 2 | $ 10 |
Unquoted Equity And Preference Securities Carried At FVPL | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||
Method | Discounted cash flows method, Market multiples method, Option pricing model, etc | |
Fair value | $ 3 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) | Jan. 11, 2019INR (₨) | Mar. 31, 2019USD ($) | Mar. 31, 2019INR (₨) | Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) |
Disclosure Of Financial Instruments [Line Items] | |||||
Cumulative impact on reversal of unrealized gain on quoted debt securities on adoption of IFRS 9 | $ 5,000,000 | ||||
Debt securities, transferred from Level 1 to Level 2 of fair value hierarchy | $ 108,000,000 | $ 130,000,000 | |||
Debt securities, transferred from Level 2 to Level 1 of fair value hierarchy | $ 49,000,000 | $ 276,000,000 | |||
Description of reasons for transfers out of level 1 in to level 2 of fair value hierarchy assets | During fiscal 2019, quoted debt securities of $108 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $49 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. | During fiscal 2019, quoted debt securities of $108 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $49 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. | During fiscal 2018, quoted debt securities of $130 million were transferred from Level 1 to Level 2 of fair value hierarchy, since these were valued based on market observable inputs and quoted debt securities of $276 million were transferred from Level 2 to Level 1 of fair value hierarchy, since these were valued based on quoted price. | ||
Percentage point change in unobservable inputs used in fair valuation of Level 3 assets and liabilities that does not have significant impact | 1.00% | 1.00% | 1.00% | ||
Exchange rate differences, percentage effect on incremental operating margins | 0.47% | 0.47% | 0.50% | 0.50% | |
Derivative maturity description | 12 months | 12 months | |||
Maximum exposure to credit risk from trade receivables | $ 2,144,000,000 | $ 2,016,000,000 | |||
Unbilled revenue | 777,000,000 | 654,000,000 | |||
Impairment loss under expected credit loss model | $ 34,000,000 | $ 5,000,000 | $ 20,000,000 | ||
Days Sales Outstanding- DSO | 66 days | 66 days | 67 days | ||
Outstanding bank borrowings | $ 0 | ||||
Working capital | 4,951,000,000 | $ 5,243,000,000 | |||
Cash and cash equivalents | 2,829,000,000 | 3,041,000,000 | |||
Current investments | 958,000,000 | 982,000,000 | |||
Outstanding employee benefit obligations | 240,000,000 | 225,000,000 | |||
Liquidity Risk | 0 | 0 | |||
Maximum share value available for buy back | ₨ 82,600,000,000 | 1,184,000,000 | ₨ 82,600,000,000 | ||
Share bought back including transaction cost | 118,000,000 | ₨ 8,130,000,000 | 2,042,000,000 | ||
Derivatives Not Designated As Cash Flow Hedges | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Net gain recognized on derivative financial instruments | $ 35,000,000 | $ 89,000,000 | |||
Top of Range | Derivatives Not Designated As Cash Flow Hedges | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Net gain recognized on derivative financial instruments | $ 1,000,000 |
Financial Instruments - Schedul
Financial Instruments - Schedule of Carrying Value and Fair Value of Financial Instruments by Categories (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | $ 6,082 | $ 6,458 |
Financial assets at fair value through profit or loss mandatory | 372 | 90 |
Financial assets at fair value through OCI equity instruments designated upon initial recognition | 15 | 21 |
Financial assets at fair value through OCI mandatory | 1,012 | 1,465 |
Financial assets total carrying value | 7,481 | 8,034 |
Financial assets total fair value | 7,499 | 8,060 |
Financial liabilities amortised cost | 1,502 | 943 |
Financial liabilities at fair value through profit or loss mandatory | 29 | 14 |
Financial liabilities total carrying value | 1,531 | 957 |
Financial liabilities total fair value | 1,531 | 957 |
Trade Payables | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial liabilities amortised cost | 239 | 107 |
Financial liabilities total carrying value | 239 | 107 |
Financial liabilities total fair value | 239 | 107 |
Derivative Financial Instruments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial liabilities at fair value through profit or loss mandatory | 2 | 6 |
Financial liabilities total carrying value | 2 | 6 |
Financial liabilities total fair value | 2 | 6 |
Other Liabilities Including Contingent Consideration | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial liabilities amortised cost | 1,263 | 836 |
Financial liabilities at fair value through profit or loss mandatory | 27 | 8 |
Financial liabilities total carrying value | 1,290 | 844 |
Financial liabilities total fair value | 1,290 | 844 |
Cash and Cash Equivalents | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 2,829 | 3,041 |
Financial assets total carrying value | 2,829 | 3,041 |
Financial assets total fair value | 2,829 | 3,041 |
Liquid Mutual Funds | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 258 | 12 |
Financial assets total carrying value | 258 | 12 |
Financial assets total fair value | 258 | 12 |
Fixed Maturity Plan Securities | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets total fair value | 66 | 66 |
Fixed Maturity Plan Securities | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 66 | 66 |
Financial assets total carrying value | 66 | 66 |
Financial assets total fair value | 66 | 66 |
Quoted Debt Securities | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 277 | 291 |
Financial assets at fair value through OCI mandatory | 577 | 610 |
Financial assets total carrying value | 854 | 901 |
Financial assets total fair value | 884 | 940 |
Certificates of Deposit | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets total fair value | 358 | 808 |
Certificates of Deposit | Investments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through OCI mandatory | 358 | 808 |
Financial assets total carrying value | 358 | 808 |
Financial assets total fair value | 358 | 808 |
Commercial Paper | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through OCI mandatory | 72 | 45 |
Financial assets total carrying value | 72 | 45 |
Financial assets total fair value | 72 | 45 |
Unquoted Equity and Preference Securities | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 3 | |
Financial assets at fair value through OCI equity instruments designated upon initial recognition | 15 | 21 |
Financial assets total carrying value | 18 | 21 |
Financial assets total fair value | 18 | 21 |
Unquoted Investments Others | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 2 | 10 |
Financial assets total carrying value | 2 | 10 |
Financial assets total fair value | 2 | 10 |
Trade Receivables | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 2,144 | 2,016 |
Financial assets total carrying value | 2,144 | 2,016 |
Financial assets total fair value | 2,144 | 2,016 |
Unbilled Revenue | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 303 | 654 |
Financial assets total carrying value | 303 | 654 |
Financial assets total fair value | 303 | 654 |
Prepayments and Other Assets | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets amortised cost | 529 | 456 |
Financial assets total carrying value | 529 | 456 |
Financial assets total fair value | 517 | 443 |
Derivative Financial Instruments | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 43 | |
Financial assets at fair value through OCI mandatory | 5 | 2 |
Financial assets total carrying value | 48 | 2 |
Financial assets total fair value | 48 | 2 |
Financial liabilities total fair value | $ 2 | 6 |
Unquoted Convertible Promissory Note | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets at fair value through profit or loss mandatory | 2 | |
Financial assets total carrying value | 2 | |
Financial assets total fair value | $ 2 |
Financial Instruments - Sched_2
Financial Instruments - Schedule of Carrying Value and Fair Value of Financial Instruments by Categories (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | ||
Interest accrued on quoted debt securities carried at amortized cost | $ 12 | $ 13 |
Financial Instruments - Sched_3
Financial Instruments - Schedule of Fair Value Hierarchy of Assets and Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 7,499 | $ 8,060 |
Financial liabilities | 1,531 | 957 |
Liability towards contingent consideration (Refer note 2.5) | 27 | 8 |
Liquid Mutual Fund | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 258 | 12 |
Fixed Maturity Plan Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | 66 |
Fixed Maturity Plan Securities | Investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | 66 |
Quoted Debt Securities | Investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 884 | 940 |
Certificates of Deposit | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 358 | 808 |
Certificates of Deposit | Investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 358 | 808 |
Commercial Paper | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 72 | 45 |
Unquoted Equity and Preference Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 18 | 21 |
Unquoted Investments Others | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2 | 10 |
Derivative Financial Instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 48 | 2 |
Financial liabilities | 2 | 6 |
Unquoted Convertible Promissory Note | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2 | |
Level 1 | Liquid Mutual Fund | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 258 | 12 |
Level 1 | Quoted Debt Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 630 | 701 |
Level 2 | Fixed Maturity Plan Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | 66 |
Level 2 | Quoted Debt Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 254 | 239 |
Level 2 | Certificates of Deposit | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 358 | 808 |
Level 2 | Commercial Paper | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 72 | 45 |
Level 2 | Derivative Financial Instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 48 | 2 |
Financial liabilities | 2 | 6 |
Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liability towards contingent consideration (Refer note 2.5) | 27 | 8 |
Level 3 | Unquoted Equity and Preference Securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 18 | 21 |
Level 3 | Unquoted Investments Others | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2 | 10 |
Level 3 | Unquoted Convertible Promissory Note | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2 |
Financial Instruments - Sched_4
Financial Instruments - Schedule of Fair Value Hierarchy of Assets and Liabilities (Parenthetical) (Details) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Other Liabilities Including Contingent Consideration | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Contingent consideration discount rate | 10.00% | |
Bottom of Range | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Contingent consideration discount rate | 9.00% | |
Top of Range | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Contingent consideration discount rate | 16.00% |
Financial Instruments - Summary
Financial Instruments - Summary of Income from Financial Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Income Expense Gains Or Losses Of Financial Instruments [Abstract] | |||
Interest income on financial assets carried at amortized cost | $ 201 | $ 260 | $ 352 |
Interest income on financial assets fair valued through other comprehensive income | 92 | 106 | 28 |
Dividend income on investments carried at fair value through profit or loss | 1 | 4 | |
Gain / (loss) on investments carried at fair value through profit or loss | 24 | 39 | 18 |
Income from financial assets or liabilities | $ 317 | $ 406 | $ 402 |
Financial Instruments - Sched_5
Financial Instruments - Schedule of Analysis of Foreign Currency Risk From Monetary Assets and Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | $ 2,829 | $ 3,041 |
Trade receivables | 2,144 | 2,016 |
Unbilled revenues | 777 | 654 |
Trade payables | (239) | (107) |
Employee benefit obligations | (240) | (225) |
Other liabilities | (1,553) | (1,078) |
Foreign Currency Risk | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 483 | 490 |
Trade receivables | 2,069 | 1,915 |
Unbilled revenues | 790 | 581 |
Other assets | 136 | 74 |
Trade payables | (168) | (85) |
Employee benefit obligations | (170) | (153) |
Other liabilities | (714) | (428) |
Net assets / (liabilities) | 2,426 | 2,394 |
Foreign Currency Risk | U.S. Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 237 | 197 |
Trade receivables | 1,438 | 1,276 |
Unbilled revenues | 540 | 356 |
Other assets | 66 | 49 |
Trade payables | (102) | (42) |
Employee benefit obligations | (98) | (88) |
Other liabilities | (509) | (263) |
Net assets / (liabilities) | 1,572 | 1,485 |
Foreign Currency Risk | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 38 | 33 |
Trade receivables | 267 | 269 |
Unbilled revenues | 111 | 98 |
Other assets | 15 | 4 |
Trade payables | (19) | (12) |
Employee benefit obligations | (15) | (13) |
Other liabilities | (66) | (50) |
Net assets / (liabilities) | 331 | 329 |
Foreign Currency Risk | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 16 | 23 |
Trade receivables | 148 | 129 |
Unbilled revenues | 36 | 46 |
Other assets | 5 | 4 |
Trade payables | (20) | (17) |
Employee benefit obligations | (3) | (4) |
Other liabilities | (28) | (29) |
Net assets / (liabilities) | 154 | 152 |
Foreign Currency Risk | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 31 | 54 |
Trade receivables | 76 | 121 |
Unbilled revenues | 40 | 24 |
Other assets | 5 | 2 |
Trade payables | (12) | (5) |
Employee benefit obligations | (30) | (28) |
Other liabilities | (25) | (14) |
Net assets / (liabilities) | 85 | 154 |
Foreign Currency Risk | Other Currencies | ||
Disclosure Of Financial Instruments [Line Items] | ||
Cash and cash equivalents | 161 | 183 |
Trade receivables | 140 | 120 |
Unbilled revenues | 63 | 57 |
Other assets | 45 | 15 |
Trade payables | (15) | (9) |
Employee benefit obligations | (24) | (20) |
Other liabilities | (86) | (72) |
Net assets / (liabilities) | $ 284 | $ 274 |
Financial Instruments - Summa_2
Financial Instruments - Summary of Outstanding Foreign Forward and Options Contract (Details) € in Millions, ¥ in Millions, £ in Millions, kr in Millions, kr in Millions, SFr in Millions, R in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions | Mar. 31, 2019USD ($)AUD ($)EUR (€)GBP (£)CAD ($)JPY (¥)NZD ($)NOK (kr)SGD ($)SEK (kr)CHF (SFr) | Mar. 31, 2018USD ($)AUD ($)EUR (€)GBP (£)CAD ($)JPY (¥)NZD ($)NOK (kr)SGD ($)ZAR (R)SEK (kr)CHF (SFr) |
Derivatives Designated As Cash Flow Hedges | Option contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 120 | 60 |
Derivatives Designated As Cash Flow Hedges | Option contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 135 | 100 |
Derivatives Designated As Cash Flow Hedges | Option contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 25 | 20 |
Other Derivatives | Option contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 10 | 20 |
Other Derivatives | Option contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 60 | 45 |
Other Derivatives | Option contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 10 | 25 |
Other Derivatives | Option contracts | U.S. Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 433 | 320 |
Other Derivatives | Option contracts | Swiss Franc | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | SFr | 5 | 5 |
Other Derivatives | Option contracts | Canadian dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 13 | |
Other Derivatives | Forward contracts | Australian Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 8 | 5 |
Other Derivatives | Forward contracts | Euro | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | € | 176 | 91 |
Other Derivatives | Forward contracts | United Kingdom Pound Sterling | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | £ | 80 | 51 |
Other Derivatives | Forward contracts | U.S. Dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 955 | 623 |
Other Derivatives | Forward contracts | Swiss Franc | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | SFr | 25 | 21 |
Other Derivatives | Forward contracts | Japanese Yen | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | ¥ | 550 | 550 |
Other Derivatives | Forward contracts | Singapore dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 140 | 5 |
Other Derivatives | Forward contracts | New Zealand dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 16 | 16 |
Other Derivatives | Forward contracts | Swedish Krona | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | kr | 50 | 50 |
Other Derivatives | Forward contracts | Norwegian Krone | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | kr | 40 | 40 |
Other Derivatives | Forward contracts | South African Rand | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | R | 25 | |
Other Derivatives | Forward contracts | Canadian dollars | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 13 | 20 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Derivative Financial Instruments into Relevant Maturity Groupings (Details) - Exchange Forward And Option Contracts - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 2,232 | 1,513 |
Not later than one month [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 640 | 434 |
Later than one month and not later than three months [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 1,001 | 701 |
Later than three months and not later than one year [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Nominal value | 591 | 378 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Reconciliation of Cash Flow Hedge Reserve (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | ||
Balance at the beginning of the period | $ 6 | |
Gain / (Loss) recognized in other comprehensive income during the period | $ 17 | (14) |
Amount reclassified to profit or loss during the period | (13) | 6 |
Tax impact on above | (1) | $ 2 |
Balance at the end of the period | $ 3 |
Financial Instruments - Summa_5
Financial Instruments - Summary of Quantitative Information About Offsetting of Derivative Financial Assets And Derivative Financial Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Abstract] | ||
Gross amount of recognized financial asset/liability | $ 48 | $ 3 |
Amount set off | (1) | |
Net amount presented in balance sheet | 48 | 2 |
Gross amount of recognized financial asset/liability | (2) | (7) |
Amount set off | 1 | |
Net amount presented in balance sheet | $ (2) | $ (6) |
Financial Instruments - Summa_6
Financial Instruments - Summary of Percentage of Revenues (Details) | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Instruments [Abstract] | |||
Revenue from top customer | 3.60% | 3.40% | 3.40% |
Revenue from top ten customers | 19.00% | 19.30% | 21.00% |
Financial Instruments - Summa_7
Financial Instruments - Summary of Credit Risk Exposure (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Financial Instruments [Abstract] | |||
Balance at the beginning | $ 69 | $ 63 | $ 44 |
Translation differences | (2) | 2 | (1) |
Impairment loss recognized/(reversed) | 34 | 5 | 20 |
Write offs | (10) | (1) | |
Balance at the end | $ 91 | $ 69 | $ 63 |
Financial Instruments - Summa_8
Financial Instruments - Summary of Credit Receivable (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Abstract] | ||
Trade receivables | $ 2,144 | $ 2,016 |
Unbilled revenues | $ 777 | $ 654 |
Financial Instruments - Summa_9
Financial Instruments - Summary of Contractual Maturities of Significant Financial Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Financial Instruments [Line Items] | ||
Trade payables | $ 239 | $ 107 |
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 1,263 | 836 |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | 34 | 8 |
Less Than 1 Year | ||
Disclosure Of Financial Instruments [Line Items] | ||
Trade payables | 239 | 107 |
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 1,260 | 836 |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | 17 | 6 |
1-2 Years | ||
Disclosure Of Financial Instruments [Line Items] | ||
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 2 | |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | 12 | 1 |
2-4 Years | ||
Disclosure Of Financial Instruments [Line Items] | ||
Other liabilities (excluding liabilities towards contingent consideration - Refer to note 2.5) | 1 | |
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | $ 1 | |
4-7 Years | ||
Disclosure Of Financial Instruments [Line Items] | ||
Liability towards contingent consideration on an undiscounted basis - (Refer to Note 2.5) | $ 5 |
Prepayments and Other Assets -
Prepayments and Other Assets - Schedule of Prepayment and Other Assets (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Current assets | ||
Rental deposits | $ 2 | $ 2 |
Security deposits | 1 | 1 |
Loans to employees | 35 | 37 |
Prepaid expenses | 108 | 72 |
Interest accrued and not due | 131 | 117 |
Withholding taxes and others | 215 | 158 |
Advance payments to vendors for supply of goods | 16 | 18 |
Deposit with corporation | 242 | 236 |
Escrow and other deposits pertaining to buyback | 37 | |
Deferred contract cost | 8 | 7 |
Other assets | 32 | 14 |
Current prepayments and other assets | 827 | 662 |
Non-current assets | ||
Loans to employees | 3 | 6 |
Security deposits | 8 | 8 |
Deposits with corporation | 10 | 9 |
Prepaid gratuity (Refer note 2.11.1) | 6 | 7 |
Prepaid expenses | 23 | 17 |
Deferred contract cost | 40 | 40 |
Advance towards purchase of business | 30 | |
Withholding taxes and others | 134 | 219 |
Rental deposits | 28 | 26 |
Non-current prepayments and other assets | 282 | 332 |
Total prepayments and other assets | 1,109 | 994 |
Financial assets in prepayments and other assets | $ 529 | $ 456 |
Prepayments and Other Assets _2
Prepayments and Other Assets - Additional Information (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2019USD ($) | |
INDIA | |
Disclosure Of Geographical Areas [Line Items] | |
Cenvat recoverable | $ 76 |
Other Liabilities - Schedule of
Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Current | ||
Accrued compensation to employees | $ 372 | $ 385 |
Accrued expenses | 480 | 376 |
Withholding taxes and others | 215 | 190 |
Retention money | 16 | 20 |
Liabilities of controlled trusts | 24 | 21 |
Liability towards contingent consideration (Refer note 2.9) | 14 | 6 |
Financial liability on account of buyback | 174 | |
Deferred rent | 9 | 4 |
Capital creditors | 98 | 24 |
Others | 96 | 10 |
Other current liabilities | 1,498 | 1,036 |
Non-current | ||
Liability towards contingent consideration (Refer note 2.9) | 13 | 2 |
Accrued compensation to employees | 3 | |
Accrued gratuity (Refer note 2.12.1) | 4 | 4 |
Deferred income - government grant on land use rights | 6 | 7 |
Deferred income | 4 | 5 |
Deferred rent | 25 | 24 |
Other non-current liabilities | 55 | 42 |
Other liabilities | 1,553 | 1,078 |
Financial liabilities included in other liabilities | 1,290 | 844 |
Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) | $ 34 | $ 8 |
Other Liabilities - Schedule _2
Other Liabilities - Schedule of Other Liabilities (Parenthetical) (Details) $ in Millions | Mar. 31, 2019USD ($) |
Disclosure Of Other Liabilities [Abstract] | |
Financial liability on account of buyback of equity shares | $ 174 |
Provisions - Schedule of Provis
Provisions - Schedule of Provisions (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Other Provisions [Abstract] | ||
Provision for post sales client support and other provisions | $ 83 | $ 75 |
Provisions - Additional Informa
Provisions - Additional Information (Details) ₨ in Millions, $ in Millions | 12 Months Ended | |||
Mar. 31, 2019USD ($) | Mar. 31, 2019INR (₨) | Mar. 31, 2018USD ($) | Mar. 31, 2018INR (₨) | |
Tax Other Than Income Tax Contingent Liability | ||||
Disclosure Of Provisions [Line Items] | ||||
Claims (excluding demands from Income tax authorities) | $ 33 | ₨ 2,300 | $ 40 | ₨ 2,600 |
Provision for Post Sales Client Support and Other Provisions | ||||
Disclosure Of Provisions [Line Items] | ||||
Description of expected period to be utilized | 6 months to 1 year |
Provisions - Summary of Movemen
Provisions - Summary of Movement in the Provision for Post Sales Client Support and Other Provisions (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2019USD ($) | |
Disclosure Of Other Provisions [Abstract] | |
Balance at the beginning | $ 75 |
Provision recognized / (reversed) | 24 |
Provision utilized | (16) |
Balance at the end | $ 83 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Estimated Useful Lives of Assets (Detail) | 12 Months Ended | |
Mar. 31, 2019 | ||
Buildings | Bottom of Range | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 22 years | |
Buildings | Top of Range | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 25 years | |
Plant and Machinery | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 5 years | [1] |
Computer Equipment | Bottom of Range | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 3 years | |
Computer Equipment | Top of Range | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 5 years | |
Furniture and Fixtures | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 5 years | |
Vehicles | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | 5 years | |
Leasehold Improvements | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Useful lives (in years) | Over lease term | |
[1] | Includes solar plant with a useful life of 20 years |
Property, Plant and Equipment_2
Property, Plant and Equipment - Schedule of Estimated Useful Lives of Assets (Paranthetical) (Detail) | 12 Months Ended |
Mar. 31, 2019 | |
Solar Plant | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives (in years) | 20 years |
Property, Plant and Equipment_3
Property, Plant and Equipment - Schedule of Changes in Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | $ 1,863 | $ 1,807 | $ 1,589 | |
Capital work-in-progress | 271 | 311 | 303 | $ 286 |
Property, plant and equipment, Ending balance | 1,931 | 1,863 | 1,807 | |
Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 3,096 | 2,827 | 2,428 | |
Additions | 470 | 302 | 420 | |
Additions- Business Combinations (Refer note 2.9) | 7 | |||
Deletions | (83) | (24) | (73) | |
Reclassified from assets held for sale (refer note 2.9) | 10 | (10) | ||
Translation difference | (178) | 1 | 52 | |
Property, plant and equipment, Ending balance | 3,322 | 3,096 | 2,827 | |
Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (1,544) | (1,323) | (1,125) | |
Deletions | 56 | 23 | 54 | |
Depreciation | (255) | (254) | (226) | |
Reclassified from assets held for sale (refer note 2.9) | (7) | 7 | ||
Translation difference | 88 | 3 | (26) | |
Property, plant and equipment, Ending balance | (1,662) | (1,544) | (1,323) | |
Land | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 287 | 268 | 241 | |
Property, plant and equipment, Ending balance | 271 | 287 | 268 | |
Land | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 292 | 272 | 244 | |
Additions | 8 | 21 | 22 | |
Deletions | (7) | |||
Translation difference | (17) | (1) | 6 | |
Property, plant and equipment, Ending balance | 276 | 292 | 272 | |
Land | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (5) | (4) | (3) | |
Depreciation | (1) | (1) | (1) | |
Translation difference | 1 | |||
Property, plant and equipment, Ending balance | (5) | (5) | (4) | |
Buildings | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 830 | 747 | 623 | |
Property, plant and equipment, Ending balance | 868 | 830 | 747 | |
Buildings | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 1,247 | 1,123 | 955 | |
Additions | 132 | 122 | 147 | |
Deletions | (17) | |||
Translation difference | (71) | 2 | 21 | |
Property, plant and equipment, Ending balance | 1,291 | 1,247 | 1,123 | |
Buildings | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (417) | (376) | (332) | |
Deletions | 15 | |||
Depreciation | (45) | (43) | (35) | |
Translation difference | 24 | 2 | (9) | |
Property, plant and equipment, Ending balance | (423) | (417) | (376) | |
Plant and Machinery | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 159 | 165 | 149 | |
Property, plant and equipment, Ending balance | 182 | 159 | 165 | |
Plant and Machinery | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 518 | 466 | 392 | |
Additions | 98 | 56 | 73 | |
Additions- Business Combinations (Refer note 2.9) | 1 | |||
Deletions | (15) | (3) | (8) | |
Translation difference | (30) | (1) | 9 | |
Property, plant and equipment, Ending balance | 572 | 518 | 466 | |
Plant and Machinery | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (359) | (301) | (243) | |
Deletions | 12 | 2 | 5 | |
Depreciation | (62) | (62) | (57) | |
Translation difference | 19 | 2 | (6) | |
Property, plant and equipment, Ending balance | (390) | (359) | (301) | |
Computer Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 192 | 229 | 220 | |
Property, plant and equipment, Ending balance | 239 | 192 | 229 | |
Computer Equipment | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 749 | 700 | 615 | |
Additions | 173 | 73 | 120 | |
Additions- Business Combinations (Refer note 2.9) | 4 | |||
Deletions | (35) | (17) | (47) | |
Reclassified from assets held for sale (refer note 2.9) | 6 | (6) | ||
Translation difference | (42) | (1) | 12 | |
Property, plant and equipment, Ending balance | 855 | 749 | 700 | |
Computer Equipment | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (557) | (471) | (395) | |
Deletions | 23 | 17 | 34 | |
Depreciation | (109) | (107) | (101) | |
Reclassified from assets held for sale (refer note 2.9) | (4) | 4 | ||
Translation difference | 31 | (9) | ||
Property, plant and equipment, Ending balance | (616) | (557) | (471) | |
Furniture and Fixtures | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 82 | 93 | 69 | |
Property, plant and equipment, Ending balance | 98 | 82 | 93 | |
Furniture and Fixtures | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 285 | 261 | 218 | |
Additions | 58 | 29 | 57 | |
Additions- Business Combinations (Refer note 2.9) | 2 | |||
Deletions | (9) | (3) | (17) | |
Reclassified from assets held for sale (refer note 2.9) | 4 | (4) | ||
Translation difference | (17) | 2 | 3 | |
Property, plant and equipment, Ending balance | 323 | 285 | 261 | |
Furniture and Fixtures | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (203) | (168) | (149) | |
Deletions | 6 | 3 | 14 | |
Depreciation | (37) | (40) | (31) | |
Reclassified from assets held for sale (refer note 2.9) | (3) | 3 | ||
Translation difference | 12 | (1) | (2) | |
Property, plant and equipment, Ending balance | (225) | (203) | (168) | |
Vehicles | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 2 | 2 | 1 | |
Property, plant and equipment, Ending balance | 2 | 2 | 2 | |
Vehicles | Gross Carrying Value | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | 5 | 5 | 4 | |
Additions | 1 | 1 | 1 | |
Deletions | (1) | (1) | ||
Translation difference | (1) | 1 | ||
Property, plant and equipment, Ending balance | 5 | 5 | 5 | |
Vehicles | Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property, plant and equipment, Beginning balance | (3) | (3) | (3) | |
Deletions | 1 | 1 | ||
Depreciation | (1) | (1) | (1) | |
Translation difference | 1 | |||
Property, plant and equipment, Ending balance | $ (3) | $ (3) | $ (3) |
Property, Plant and Equipment_4
Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Property Plant And Equipment [Abstract] | ||
Land acquired on lease | $ 83 | $ 98 |
Contractual commitments for capital expenditure | $ 249 | $ 223 |
Goodwill And Intangible Asset_2
Goodwill And Intangible Assets - Summary of Changes In Carrying Amount of Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Carrying value at the beginning | $ 339 | $ 563 |
Goodwill reclassified (to)/from assets held for sale, net of reduction (Refer note no 2.9) | 138 | (247) |
Translation differences | (22) | 18 |
Carrying value at the end | 512 | 339 |
Brilliant Basics Holdings Limited | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Goodwill on acquisition | $ 5 | |
Wongdoody Holding Company Inc. | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Goodwill on acquisition | 25 | |
Fluido Oy | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Goodwill on acquisition | $ 32 |
Goodwill And Intangible Asset_3
Goodwill And Intangible Assets - Summary of Allocation of Goodwill to Operating Segments (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | $ 376 | $ 339 |
Financial Services | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 108 | 73 |
Manufacturing | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 34 | 39 |
Retail | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 63 | |
Communication | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 56 | |
Energy, Utilities, Resources and Services | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 54 | |
Operating Segments With Significant Goodwill | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 315 | 300 |
Aggregate Not Significant Individual Assets or Cash Generating Units | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | $ 61 | $ 39 |
Goodwill And Intangible Asset_4
Goodwill And Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Intangible Assets [Line Items] | |||
Goodwill pertaining to subsidiaries | $ 136 | ||
Cash flow projections, number of years | 5 years | ||
Research and development expense | $ 110 | $ 116 | $ 118 |
Software Technology Assets | |||
Disclosure Of Intangible Assets [Line Items] | |||
Useful life of software technology asset | 3 years | 3 years | 8 years |
Accelerated amortization expense | $ 3 |
Goodwill And Intangible Asset_5
Goodwill And Intangible Assets - Summary of Allocation of Goodwill to Operating Segments (Prior to Reorganization) (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | $ 376 | $ 339 |
Financial Services | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 108 | 73 |
Manufacturing | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 34 | 39 |
Retail, Consumer Packaged Goods and Logistics | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 48 | |
Life Sciences, Healthcare and Insurance | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 68 | |
Energy & Utilities, Communication and Services | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 72 | |
Operating Segments With Significant Goodwill | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | 315 | 300 |
Aggregate Not Significant Individual Assets or Cash Generating Units | ||
Disclosure Of Information For Individual Asset Or Cashgenerating Unit With Significant Amount Of Goodwill Or Intangible Assets With Indefinite Useful Lives [Line Items] | ||
Goodwill allocated to operating segments | $ 61 | $ 39 |
Goodwill And Intangible Asset_6
Goodwill And Intangible Assets - Summary of Key Assumptions Used (Details) | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Key Assumptions Used [Line Items] | ||
Discount rate | 12.50% | 13.50% |
Bottom of Range | ||
Disclosure Of Key Assumptions Used [Line Items] | ||
Long term growth rate | 8.00% | 8.00% |
Operating margins | 17.00% | 17.00% |
Top of Range | ||
Disclosure Of Key Assumptions Used [Line Items] | ||
Long term growth rate | 10.00% | 10.00% |
Operating margins | 20.00% | 20.00% |
Goodwill And Intangible Asset_7
Goodwill And Intangible Assets - Summary of Changes In Carrying Amount of Acquired Intangible Assets (Details) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019USD ($)yr | Mar. 31, 2018USD ($)yr | Mar. 31, 2017USD ($)yr | |
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | $ 38 | $ 120 | $ 149 |
Intangible assets gross, Ending balance | 100 | 38 | 120 |
Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 90 | 215 | 217 |
Additions during the period | 1 | ||
Addition/acquisition through business combination (Refer note no. 2.9) | 61 | 2 | |
Deletion/ retirals | (39) | ||
Reclassified under assets held for sale | 90 | (90) | |
Translation differences | (6) | 2 | (2) |
Intangible assets gross, Ending balance | 236 | 90 | 215 |
Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (52) | (95) | (68) |
Amortization expense | (32) | (35) | (28) |
Reduction in value (Refer note no. 2.9) | (13) | ||
Deletion/ retirals | 39 | ||
Reclassified under assets held for sale | (40) | 40 | |
Translation differences | 1 | (1) | 1 |
Intangible assets gross, Ending balance | (136) | (52) | (95) |
Customer related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 24 | 57 | 71 |
Intangible assets gross, Ending balance | $ 55 | $ 24 | $ 57 |
Customer related | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 1 | 2 years | 3 years |
Estimated Remaining Useful Life (in years) | yr | 0 | 1 | 1 |
Customer related | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 10 | 10 years | 10 years |
Estimated Remaining Useful Life (in years) | yr | 7 | 5 | 6 |
Customer related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | $ 68 | $ 116 | $ 117 |
Addition/acquisition through business combination (Refer note no. 2.9) | 47 | 2 | |
Deletion/ retirals | (27) | ||
Reclassified under assets held for sale | 24 | (24) | |
Translation differences | (3) | 1 | (1) |
Intangible assets gross, Ending balance | 136 | 68 | 116 |
Customer related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (44) | (59) | (46) |
Amortization expense | (16) | (20) | (14) |
Reduction in value (Refer note no. 2.9) | (13) | ||
Deletion/ retirals | 27 | ||
Reclassified under assets held for sale | (9) | 9 | |
Translation differences | 1 | (1) | 1 |
Intangible assets gross, Ending balance | (81) | (44) | (59) |
Software related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 43 | 53 | |
Intangible assets gross, Ending balance | $ 20 | $ 43 | |
Estimated Remaining Useful Life (in years) | yr | 1 | ||
Software related | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 3 | 5 years | |
Estimated Remaining Useful Life (in years) | yr | 3 | ||
Software related | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 8 | 8 years | |
Estimated Remaining Useful Life (in years) | yr | 6 | ||
Software related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | $ 3 | 62 | $ 62 |
Additions during the period | 1 | ||
Reclassified under assets held for sale | 60 | (60) | |
Translation differences | 1 | ||
Intangible assets gross, Ending balance | 64 | 3 | 62 |
Software related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (3) | (19) | (9) |
Amortization expense | (13) | (12) | (9) |
Reclassified under assets held for sale | (28) | 28 | |
Translation differences | (1) | ||
Intangible assets gross, Ending balance | (44) | (3) | (19) |
Land use rights related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 10 | 9 | 10 |
Intangible assets gross, Ending balance | $ 9 | $ 10 | $ 9 |
Estimated Useful Life (in years) | 50 | 50 years | 50 years |
Estimated Remaining Useful Life (in years) | yr | 42 | 43 | 44 |
Land use rights related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | $ 11 | $ 10 | $ 11 |
Translation differences | (1) | 1 | (1) |
Intangible assets gross, Ending balance | 10 | 11 | 10 |
Land use rights related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (1) | (1) | (1) |
Intangible assets gross, Ending balance | (1) | (1) | (1) |
Marketing Related | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 2 | 7 | 9 |
Intangible assets gross, Ending balance | $ 8 | $ 2 | $ 7 |
Estimated Useful Life (in years) | 5 years | ||
Estimated Remaining Useful Life (in years) | yr | 3 | ||
Marketing Related | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 5 | 3 years | |
Estimated Remaining Useful Life (in years) | yr | 2 | 1 | |
Marketing Related | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 10 | 10 years | |
Estimated Remaining Useful Life (in years) | yr | 8 | 8 | |
Marketing Related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | $ 4 | $ 14 | $ 14 |
Addition/acquisition through business combination (Refer note no. 2.9) | 5 | ||
Deletion/ retirals | (4) | ||
Reclassified under assets held for sale | 6 | (6) | |
Translation differences | (1) | ||
Intangible assets gross, Ending balance | 14 | 4 | 14 |
Marketing Related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (2) | (7) | (5) |
Amortization expense | (1) | (2) | (2) |
Deletion/ retirals | 4 | ||
Reclassified under assets held for sale | (3) | 3 | |
Intangible assets gross, Ending balance | (6) | (2) | (7) |
Others | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 2 | 4 | 6 |
Intangible assets gross, Ending balance | $ 8 | $ 2 | $ 4 |
Estimated Useful Life (in years) | 5 years | ||
Estimated Remaining Useful Life (in years) | yr | 3 | ||
Others | Bottom of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 3 | 3 years | |
Estimated Remaining Useful Life (in years) | yr | 2 | 1 | |
Others | Top of Range | |||
Disclosure Of Intangible Assets [Line Items] | |||
Estimated Useful Life (in years) | 5 | 5 years | |
Estimated Remaining Useful Life (in years) | yr | 3 | 4 | |
Others | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | $ 4 | $ 10 | $ 10 |
Addition/acquisition through business combination (Refer note no. 2.9) | 9 | ||
Deletion/ retirals | (5) | ||
Translation differences | (1) | (1) | |
Intangible assets gross, Ending balance | 12 | 4 | 10 |
Others | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (2) | (6) | (4) |
Amortization expense | (2) | (1) | (3) |
Deletion/ retirals | 5 | ||
Translation differences | 1 | ||
Intangible assets gross, Ending balance | $ (4) | (2) | (6) |
Sub-contracting right related | Gross Carrying Value | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | 3 | 3 | |
Deletion/ retirals | (3) | ||
Intangible assets gross, Ending balance | 3 | ||
Sub-contracting right related | Accumulated Depreciation | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets gross, Beginning balance | (3) | (3) | |
Deletion/ retirals | $ 3 | ||
Intangible assets gross, Ending balance | $ (3) |
Business Combinations and Dis_3
Business Combinations and Disposal Group Held for Sale - Additional Information (Details) € in Millions, ¥ in Millions, $ in Millions, $ in Millions | Nov. 16, 2018USD ($) | Oct. 11, 2018USD ($) | May 22, 2018USD ($) | Sep. 08, 2017USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | May 23, 2019USD ($) | May 23, 2019EUR (€) | Apr. 01, 2019USD ($) | Apr. 01, 2019JPY (¥) | Mar. 31, 2019EUR (€) | Mar. 31, 2019SGD ($) | Mar. 29, 2019USD ($) | Mar. 29, 2019JPY (¥) | Nov. 16, 2018SGD ($) | Oct. 11, 2018EUR (€) |
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | $ 8 | $ 27 | $ 8 | |||||||||||||||
Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) | 8 | 34 | 8 | |||||||||||||||
Contingent consideration on acquisition, gross | 8 | 27 | $ 8 | |||||||||||||||
Advance towards purchase of business | 30 | |||||||||||||||||
Description of non-current asset or disposal group held for sale which were sold or reclassified | Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through sale rather than through continuing use. The condition for classification of held for sale is met when the non-current asset or the disposal group is available for immediate sale and the same is highly probable of being completed within one year from the date of classification as held for sale | |||||||||||||||||
Reduction in fair value of disposal group held for sale | 39 | $ 18 | ||||||||||||||||
Disposal group held for sale | (65) | |||||||||||||||||
Panaya Inc. | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Reduction in fair value of disposal group held for sale | $ 39 | 18 | ||||||||||||||||
Skava | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Disposal group held for sale | 65 | |||||||||||||||||
Skava | Goodwill | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Disposal group held for sale | 52 | |||||||||||||||||
Skava | Customer related | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Disposal group held for sale | 13 | |||||||||||||||||
Brilliant Basics Holdings Limited | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||||
Cash consideration | $ 4 | |||||||||||||||||
Additional consideration | $ 2 | |||||||||||||||||
Term for additional consideration payable based on retention bonus payable to the employees | 2 years | |||||||||||||||||
Description of condition explained for the payment of contingent consideration | The payment of contingent consideration to sellers of Brilliant Basics is dependent upon the achievement of certain financial targets by Brilliant Basics over a period of 3 years ending on March, 2020 | |||||||||||||||||
Payment of contingent consideration term | 3 years | |||||||||||||||||
Key input used in determining fair value of contingent consideration discount rate | 10.00% | |||||||||||||||||
Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) | $ 2 | 2 | 2 | |||||||||||||||
Total consideration | $ 7 | |||||||||||||||||
Brilliant Basics Holdings Limited | Top of Range | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | 3 | |||||||||||||||||
Trade receivables acquired | 1 | |||||||||||||||||
Transaction cost related to the acquisition | $ 1 | |||||||||||||||||
Contingent consideration on acquisition, gross | $ 3 | |||||||||||||||||
WoongDoody Holding Company Inc | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Percentage of voting interests | 100.00% | |||||||||||||||||
Cash consideration | $ 38 | |||||||||||||||||
Additional consideration | $ 9 | |||||||||||||||||
Term for additional consideration payable based on retention bonus payable to the employees | 3 years | |||||||||||||||||
Trade receivables acquired | $ 2 | |||||||||||||||||
Total consideration | 51 | |||||||||||||||||
WoongDoody Holding Company Inc | Top of Range | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | 28 | |||||||||||||||||
Transaction cost related to the acquisition | 1 | |||||||||||||||||
Total consideration | 75 | |||||||||||||||||
Contingent consideration on acquisition, gross | $ 28 | |||||||||||||||||
Wongdoody Holding Company Inc. | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Description of condition explained for the payment of contingent consideration | The payment of contingent consideration to sellers of WongDoody is dependent upon the achievement of certain financial targets by WongDoody. | |||||||||||||||||
Key input used in determining fair value of contingent consideration discount rate | 16.00% | |||||||||||||||||
Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) | 17 | |||||||||||||||||
Infosys Compaz Pte Limited | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Percentage of voting interests | 60.00% | 60.00% | ||||||||||||||||
Cash consideration | $ 8 | $ 10 | ||||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | $ 5 | $ 7 | ||||||||||||||||
Description of condition explained for the payment of contingent consideration | The payment of contingent consideration to sellers of Infosys Compaz Pte. Ltd is dependent upon the achievement of certain revenue targets by Infosys Compaz Pte. Ltd. | |||||||||||||||||
Key input used in determining fair value of contingent consideration discount rate | 9.00% | 9.00% | ||||||||||||||||
Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) | 5 | $ 7 | ||||||||||||||||
Trade receivables acquired | $ 7 | |||||||||||||||||
Total consideration | 11 | |||||||||||||||||
Contingent consideration on acquisition, gross | 5 | $ 7 | ||||||||||||||||
Infosys Compaz Pte Limited | Top of Range | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Total consideration | $ 13 | $ 17 | ||||||||||||||||
Infosys Compaz Pte Limited | Top of Range | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Transaction cost related to the acquisition | 1 | |||||||||||||||||
Fluido Oy | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Percentage of voting interests | 100.00% | 100.00% | ||||||||||||||||
Cash consideration | $ 52 | € 45 | ||||||||||||||||
Term for additional consideration payable based on retention bonus payable to the employees | 3 years | |||||||||||||||||
Description of condition explained for the payment of contingent consideration | The payment of contingent consideration to sellers of Fluido is dependent upon the achievement of certain financial targets by Fluido. | |||||||||||||||||
Key input used in determining fair value of contingent consideration discount rate | 16.00% | 16.00% | ||||||||||||||||
Financial liability towards contingent consideration on undiscounted basis (Refer note 2.9) | $ 9 | € 8 | ||||||||||||||||
Trade receivables acquired | $ 4 | |||||||||||||||||
Transaction cost related to the acquisition | 1 | |||||||||||||||||
Total consideration | 60 | |||||||||||||||||
Fluido Oy | Top of Range | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Liability towards contingent consideration (Refer note 2.5) | 14 | € 12 | ||||||||||||||||
Total consideration | 75 | 65 | ||||||||||||||||
Contingent consideration on acquisition, gross | 14 | 12 | ||||||||||||||||
Retention payables | $ 9 | € 8 | ||||||||||||||||
Hitachi Procurement Service Co Ltd | Infosys Consulting Pte Limited | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Advance towards purchase of business | $ 30 | ¥ 3,290 | ||||||||||||||||
Hitachi Procurement Service Co Ltd | Infosys Consulting Pte Limited | Business Combination | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Percentage of voting interests | 81.00% | 81.00% | ||||||||||||||||
Total consideration | $ 30 | ¥ 3,290 | ||||||||||||||||
Stater N.V | Infosys Consulting Pte Limited | Business Combination | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Percentage of voting interests | 75.00% | 75.00% | ||||||||||||||||
Stater N.V | Top of Range | Infosys Consulting Pte Limited | Business Combination | ||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||
Total consideration | $ 171 | € 154 |
Business Combinations and Dis_4
Business Combinations and Disposal Group Held for Sale - Summary of Purchase Price Allocation (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Nov. 16, 2018 | Oct. 11, 2018 | May 22, 2018 | Mar. 31, 2018 | Sep. 08, 2017 | Mar. 31, 2017 |
Disclosure Of Business Combinations [Line Items] | |||||||
Goodwill | $ 512 | $ 339 | $ 563 | ||||
Brilliant Basics Holdings Limited | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Intangible assets - customer contracts and relationships | $ 2 | ||||||
Total assets acquired | 2 | ||||||
Goodwill | 5 | ||||||
Total purchase price | 7 | ||||||
Brilliant Basics Holdings Limited | Fair Value Adjustments | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Intangible assets - customer contracts and relationships | 2 | ||||||
Total assets acquired | $ 2 | ||||||
WoongDoody Holding Company Inc | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Net assets | $ 5 | ||||||
Intangible assets - customer contracts and relationships | 20 | ||||||
Total assets acquired | 26 | ||||||
Goodwill | 25 | ||||||
Total purchase price | 51 | ||||||
Intangible assets – Trade name | 1 | ||||||
WoongDoody Holding Company Inc | Acquiree Carrying Amount | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Net assets | 5 | ||||||
Total assets acquired | 5 | ||||||
WoongDoody Holding Company Inc | Fair Value Adjustments | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Intangible assets - customer contracts and relationships | 20 | ||||||
Total assets acquired | 21 | ||||||
Intangible assets – Trade name | $ 1 | ||||||
Infosys Compaz Pte Limited | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Net assets | $ 13 | ||||||
Intangible assets - customer contracts and relationships | 6 | ||||||
Deferred tax liabilities on intangible assets | (1) | ||||||
Total assets acquired | 18 | ||||||
Total purchase price | 11 | ||||||
Less: Non-controlling interests | (7) | ||||||
Infosys Compaz Pte Limited | Acquiree Carrying Amount | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Net assets | 13 | ||||||
Total assets acquired | 13 | ||||||
Infosys Compaz Pte Limited | Fair Value Adjustments | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Intangible assets - customer contracts and relationships | 6 | ||||||
Deferred tax liabilities on intangible assets | (1) | ||||||
Total assets acquired | $ 5 | ||||||
Fluido Oy | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Net assets | $ 2 | ||||||
Intangible assets - customer contracts and relationships | 21 | ||||||
Deferred tax liabilities on intangible assets | (7) | ||||||
Total assets acquired | 28 | ||||||
Goodwill | 32 | ||||||
Total purchase price | 60 | ||||||
Intangible assets – Salesforce Relationships | 8 | ||||||
Intangible assets – Brand | 4 | ||||||
Fluido Oy | Acquiree Carrying Amount | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Net assets | 2 | ||||||
Total assets acquired | 2 | ||||||
Fluido Oy | Fair Value Adjustments | |||||||
Disclosure Of Business Combinations [Line Items] | |||||||
Intangible assets - customer contracts and relationships | 21 | ||||||
Deferred tax liabilities on intangible assets | (7) | ||||||
Total assets acquired | 26 | ||||||
Intangible assets – Salesforce Relationships | 8 | ||||||
Intangible assets – Brand | $ 4 |
Business Combinations and Dis_5
Business Combinations and Disposal Group Held for Sale - Summary of Purchase Price Allocation (Parenthetical) (Details) - USD ($) $ in Millions | Nov. 16, 2018 | May 22, 2018 | Sep. 08, 2017 |
Brilliant Basics Holdings Limited | Top of Range | |||
Disclosure Of Business Combinations [Line Items] | |||
Cash and cash equivalents acquired | $ 1 | ||
WoongDoody Holding Company Inc | |||
Disclosure Of Business Combinations [Line Items] | |||
Cash and cash equivalents acquired | $ 8 | ||
Infosys Compaz Pte Limited | |||
Disclosure Of Business Combinations [Line Items] | |||
Cash and cash equivalents acquired | $ 9 |
Business Combinations and Dis_6
Business Combinations and Disposal Group Held for Sale - Summary of Acquisition Date Fair Value of Each Major Class of Consideration (Details) € in Millions, $ in Millions, $ in Millions | Nov. 16, 2018USD ($) | Nov. 16, 2018SGD ($) | Oct. 11, 2018USD ($) | Oct. 11, 2018EUR (€) | May 22, 2018USD ($) | Sep. 08, 2017USD ($) |
Brilliant Basics Holdings Limited | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Cash consideration | $ 4 | |||||
Fair value of contingent consideration | 3 | |||||
Total purchase price | $ 7 | |||||
WoongDoody Holding Company Inc | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Cash consideration | $ 38 | |||||
Fair value of contingent consideration | 13 | |||||
Total purchase price | $ 51 | |||||
Infosys Compaz Pte Limited | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Cash consideration | $ 8 | $ 10 | ||||
Fair value of contingent consideration | 3 | |||||
Total purchase price | $ 11 | |||||
Fluido Oy | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Cash consideration | $ 52 | € 45 | ||||
Fair value of contingent consideration | 8 | |||||
Total purchase price | $ 60 |
Revenue from Operations - Summa
Revenue from Operations - Summary of Revenue (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Revenue Arising From Exchanges Of Goods Or Services [Line Items] | |||
Revenues | $ 11,799 | $ 10,939 | $ 10,208 |
Software Services | |||
Disclosure Of Revenue Arising From Exchanges Of Goods Or Services [Line Items] | |||
Revenues | 11,184 | 10,371 | 9,669 |
Products and Platforms | |||
Disclosure Of Revenue Arising From Exchanges Of Goods Or Services [Line Items] | |||
Revenues | $ 615 | $ 568 | $ 539 |
Revenue from Operations - Sum_2
Revenue from Operations - Summary of Disaggregated Revenues From Contracts with Customers (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | $ 11,799 | $ 10,939 | $ 10,208 |
Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 6,197 | ||
Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 5,602 | ||
Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 3,685 | ||
Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 8,114 | ||
Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 11,184 | ||
Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 3,436 | ||
Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 7,748 | ||
Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 615 | 568 | 539 |
Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 249 | ||
Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 366 | ||
Financial Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 3,778 | ||
Financial Services | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,655 | ||
Financial Services | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2,123 | ||
Financial Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,180 | ||
Financial Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2,598 | ||
Financial Services | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 3,369 | ||
Financial Services | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,076 | ||
Financial Services | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2,293 | ||
Financial Services | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 409 | ||
Financial Services | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 104 | ||
Financial Services | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 305 | ||
Retail | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,935 | ||
Retail | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,223 | ||
Retail | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 712 | ||
Retail | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 673 | ||
Retail | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,262 | ||
Retail | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,885 | ||
Retail | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 630 | ||
Retail | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,255 | ||
Retail | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 50 | ||
Retail | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 43 | ||
Retail | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 7 | ||
Communication | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,488 | ||
Communication | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 903 | ||
Communication | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 585 | ||
Communication | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 516 | ||
Communication | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 972 | ||
Communication | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,462 | ||
Communication | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 491 | ||
Communication | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 971 | ||
Communication | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 26 | ||
Communication | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 25 | ||
Communication | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1 | ||
Energy & Utilities, Communication and Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,483 | ||
Energy & Utilities, Communication and Services | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 861 | ||
Energy & Utilities, Communication and Services | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 622 | ||
Energy & Utilities, Communication and Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 437 | ||
Energy & Utilities, Communication and Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,046 | ||
Energy & Utilities, Communication and Services | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,453 | ||
Energy & Utilities, Communication and Services | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 427 | ||
Energy & Utilities, Communication and Services | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,026 | ||
Energy & Utilities, Communication and Services | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 30 | ||
Energy & Utilities, Communication and Services | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 10 | ||
Energy & Utilities, Communication and Services | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 20 | ||
Manufacturing | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,163 | ||
Manufacturing | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 596 | ||
Manufacturing | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 567 | ||
Manufacturing | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 347 | ||
Manufacturing | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 816 | ||
Manufacturing | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,132 | ||
Manufacturing | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 327 | ||
Manufacturing | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 805 | ||
Manufacturing | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 31 | ||
Manufacturing | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 20 | ||
Manufacturing | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 11 | ||
Hi Tech | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 882 | ||
Hi Tech | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 450 | ||
Hi Tech | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 432 | ||
Hi Tech | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 297 | ||
Hi Tech | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 585 | ||
Hi Tech | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 869 | ||
Hi Tech | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 285 | ||
Hi Tech | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 584 | ||
Hi Tech | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 13 | ||
Hi Tech | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 12 | ||
Hi Tech | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1 | ||
Life Science | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 743 | ||
Life Science | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 347 | ||
Life Science | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 396 | ||
Life Science | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 185 | ||
Life Science | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 558 | ||
Life Science | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 695 | ||
Life Science | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 156 | ||
Life Science | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 539 | ||
Life Science | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 48 | ||
Life Science | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 29 | ||
Life Science | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 19 | ||
All other segments | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 327 | ||
All other segments | Fixed Price | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 162 | ||
All other segments | Time & Materials | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 165 | ||
All other segments | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 50 | ||
All other segments | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 277 | ||
All other segments | Software Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 319 | ||
All other segments | Software Services | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 44 | ||
All other segments | Software Services | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 275 | ||
All other segments | Products and Platforms | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 8 | ||
All other segments | Products and Platforms | Digital | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 6 | ||
All other segments | Products and Platforms | Core | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2 | ||
North America | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 7,141 | 6,605 | 6,320 |
North America | Financial Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2,290 | ||
North America | Retail | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,255 | ||
North America | Communication | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 796 | ||
North America | Energy & Utilities, Communication and Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 838 | ||
North America | Manufacturing | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 619 | ||
North America | Hi Tech | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 844 | ||
North America | Life Science | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 438 | ||
North America | All other segments | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 61 | ||
Europe | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2,847 | 2,596 | 2,295 |
Europe | Financial Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 698 | ||
Europe | Retail | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 548 | ||
Europe | Communication | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 271 | ||
Europe | Energy & Utilities, Communication and Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 507 | ||
Europe | Manufacturing | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 499 | ||
Europe | Hi Tech | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 15 | ||
Europe | Life Science | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 287 | ||
Europe | All other segments | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 22 | ||
INDIA | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 292 | 346 | 325 |
INDIA | Financial Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 172 | ||
INDIA | Retail | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 3 | ||
INDIA | Communication | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 8 | ||
INDIA | Manufacturing | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 12 | ||
INDIA | Hi Tech | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 20 | ||
INDIA | Life Science | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 2 | ||
INDIA | All other segments | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 75 | ||
Rest of the World | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 1,519 | $ 1,392 | $ 1,268 |
Rest of the World | Financial Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 618 | ||
Rest of the World | Retail | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 129 | ||
Rest of the World | Communication | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 413 | ||
Rest of the World | Energy & Utilities, Communication and Services | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 138 | ||
Rest of the World | Manufacturing | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 33 | ||
Rest of the World | Hi Tech | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 3 | ||
Rest of the World | Life Science | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | 16 | ||
Rest of the World | All other segments | |||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | |||
Revenues | $ 169 |
Revenue from Operations - Addit
Revenue from Operations - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Apr. 01, 2018 | |
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | ||
Revenue recognized from unearned revenue at the beginning of period | $ 319 | |
Contract assets | 474 | $ 431 |
Revenue recognized as unbilled revenue | $ 383 | |
Explanation of whether practical expedient is applied for disclosure of transaction price allocated to remaining performance obligations | Applying the practical expedient as given in IFRS 15, the Group has not disclosed the remaining performance obligation related disclosures for contracts where the revenue recognized corresponds directly with the value to the customer of the entity's performance completed to date, typically those contracts where invoicing is on time and material basis. | |
Aggregate value of performance obligations | $ 7,414 | |
Percentage of revenue to be recognized within one year | 50.00% | |
Percentage of remaining revenue to be recognized | 50.00% | |
Performance obligations, description | The aggregate value of performance obligations that are completely or partially unsatisfied as of March 31, 2019, other than those meeting the exclusion criteria mentioned above, is $ 7,414 million. Out of this, the Group expects to recognize revenue of around 50% within the next one year and the remaining thereafter. This includes contracts that can be terminated for convenience without a substantive penalty since, based on current assessment, the occurrence of the same is expected to be remote. | |
Revenue recognizing period | 1 year | |
Revenue from Contract With Customers | ||
Disclosure Of Disaggregated Revenues from Contracts with Customers by Geography, Offerings and Contract Type [Line Items] | ||
Unbilled revenues - Non financial asset | $ 474 | |
Impact on accounts, description | The impact on account of applying the erstwhile IAS 18 - Revenue instead of IFRS 15- Revenue from contract with customers on the financials results of the Group for the year ended and as at March 31, 2019 is insignificant. On account of adoption of IFRS 15, unbilled revenues of $474 million as of March 31, 2019 has been considered as non-financial asset. |
Expenses by Nature - Schedule o
Expenses by Nature - Schedule of Expense by Nature (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Expense By Nature [Abstract] | |||
Employee benefit costs | $ 6,468 | $ 6,034 | $ 5,612 |
Depreciation and amortization charges | 287 | 289 | 254 |
Travelling costs | 348 | 310 | 333 |
Cost of technical sub-contractors | 860 | 666 | 571 |
Cost of software packages for own use | 133 | 138 | 118 |
Third party items bought for service delivery to clients | 231 | 152 | 120 |
Operating lease payments | 83 | 82 | 73 |
Consultancy and professional charges | 189 | 162 | 114 |
Communication costs | 67 | 76 | 82 |
Repairs and maintenance | 188 | 174 | 191 |
Rates and Taxes | 27 | 25 | 22 |
Provision for post-sales client support | 22 | 12 | |
Power and fuel | 32 | 32 | 34 |
Commission to non-whole time directors | 1 | 1 | 2 |
Branding and marketing expenses | 69 | 47 | 51 |
Impairment loss recognized/(reversed) under expected credit loss model | 35 | 11 | 21 |
Insurance charges | 10 | 9 | 8 |
Contribution towards Corporate Social Responsibility | 38 | 24 | 34 |
Others | 37 | 26 | 36 |
Total cost of sales, selling and marketing expenses and administrative expenses | $ 9,103 | $ 8,280 | $ 7,688 |
Employee Benefits - Summary of
Employee Benefits - Summary of Gratuity Plans Amount Recognized in Group's Financial Statements (Details) - USD ($) $ in Millions | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | ||
Funded status | $ 2 | $ 3 |
Prepaid gratuity benefit | 6 | 7 |
Accrued gratuity | (4) | (4) |
Defined Benefit Obligations | ||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | ||
Benefit obligations at the beginning | 184 | 172 |
Service cost | 23 | 23 |
Interest expense | 12 | 11 |
Remeasurements - Actuarial losses / (gains) | 5 | (9) |
Transfer | 4 | |
Benefits paid | (18) | (17) |
Translation differences | (11) | |
Benefit obligations at the end | 195 | 184 |
Plan Assets | ||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | ||
Fair value of plan assets at the beginning | 187 | 184 |
Interest Income | 13 | 12 |
Remeasurements – Returns on plan assets excluding amounts included in interest income | 1 | 2 |
Contributions | 25 | 5 |
Benefits paid | (18) | (17) |
Translation differences | (11) | 1 |
Fair value of plan assets at the end | $ 197 | $ 187 |
Employee Benefits - Summary o_2
Employee Benefits - Summary of Net Gratuity Cost (Details) - Gratuity - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Service cost | $ 23 | $ 23 | $ 19 |
Net interest on the net defined benefit liability / asset | (1) | (1) | (2) |
Net gratuity cost | $ 22 | $ 22 | $ 17 |
Employee Benefits - Re-measurem
Employee Benefits - Re-measurements Of Net Defined Benefit Liability - Assets (Details) - Gratuity - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Re-measurements of the net defined benefit liability / asset | |||
Actuarial (gains) / losses | $ 5 | $ (9) | $ 10 |
(Return) / loss on plan assets excluding amounts included in the net interest on the net defined benefit liability / asset | (1) | (2) | (2) |
Total | 4 | (11) | 8 |
(Gain) / loss from change in financial assumptions | 4 | (6) | 8 |
(Gain) / loss from change in experience adjustments | 1 | (3) | 2 |
Actuarial (gains) / losses | $ 5 | $ (9) | $ 10 |
Employee Benefits - Summary o_3
Employee Benefits - Summary of Cost Recognized in Net Profit in Statement of Comprehensive Income Apportioned (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | $ 6,468 | $ 6,034 | $ 5,612 |
Gratuity | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 22 | 22 | 17 |
Gratuity | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 20 | 20 | 15 |
Gratuity | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 1 | 1 | 1 |
Gratuity | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 1 | 1 | 1 |
Superannuation | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 31 | 27 | 25 |
Superannuation | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 28 | 24 | 22 |
Superannuation | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 2 | 2 | 2 |
Superannuation | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 1 | 1 | 1 |
Provident Fund | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 78 | 75 | 69 |
Provident Fund | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 69 | 67 | 61 |
Provident Fund | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 6 | 5 | 5 |
Provident Fund | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 3 | 3 | 3 |
Employee Benefit Cost | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 86 | 84 | 74 |
Cost | 6,468 | 6,034 | 5,612 |
Employee Benefit Cost | Cost Of Sales | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 5,780 | 5,379 | 4,987 |
Employee Benefit Cost | Sales And Marketing Expense | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | 462 | 425 | 405 |
Employee Benefit Cost | Administrative Expenses | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Cost | $ 226 | $ 230 | $ 220 |
Employee Benefits - Summary o_4
Employee Benefits - Summary of Weighted-Average Assumptions (Details) - yr | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Benefit Obligations | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 7.10% | 7.50% | |
Benefit Obligations | Weighted Average | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Weighted average rate of increase in compensation levels | 8.00% | 8.00% | |
Gratuity | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Weighted average duration of defined benefit obligation | 5.9 | 6.1 | |
Net Periodic Benefit Cost | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 7.50% | 6.90% | 7.80% |
Discount rate | In India, the market for high quality corporate bonds being not developed, the yield of government bonds is considered as the discount rate. The tenure has been considered taking into account the past long-term trend of employees’ average remaining service life which reflects the average estimated term of the post- employment benefit obligations. | ||
Attrition rate | Attrition rate considered is the management’s estimate based on the past long-term trend of employee turnover in the Company. | ||
Net Periodic Benefit Cost | Weighted Average | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Weighted average rate of increase in compensation levels | 8.00% | 8.00% | 8.00% |
Weighted average rate of increase in compensation levels | The average rate of increase in compensation levels is determined by the Company, considering factors such as, the Company’s past compensation revision trends and management’s estimate of future salary increases. | ||
Provident Fund | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 7.10% | 7.50% | |
Weighted average duration of defined benefit obligation | 5.47 | 5.9 | |
Provident Fund | First Year | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
First year | 8.65% | 8.55% | |
Provident Fund | Thereafter | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
First year | 8.60% | 8.55% |
Employee Benefits - Additional
Employee Benefits - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Actual return | $ 14 | $ 14 | $ 14 | |
Sensitivity analysis | Sensitivity for significant actuarial assumptions is computed by varying one actuarial assumption used for the valuation of the defined benefit obligation by one percentage, keeping all other actuarial assumptions constant. In practice, this is not probable, and changes in some of the assumptions may be correlated. | |||
Gratuity | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Cost | $ 22 | 22 | 17 | |
Superannuation | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Amount contributed under benefit plan | 31 | 27 | 25 | |
Provident Fund | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Cost | $ 78 | $ 75 | $ 69 | |
Events After Reporting Period | Gratuity | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Expected contribution to gratuity trusts | $ 23 |
Employee Benefits - Summary o_5
Employee Benefits - Summary of Sensitivity of Significant Assumptions Used for Valuation of Defined Benefit Obligation (Details) - Benefit Obligations $ in Millions | Mar. 31, 2019USD ($) |
Discount Rate | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Impact from percentage point increase / decrease | $ 10 |
Increase in Compensation Levels | Weighted Average | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Impact from percentage point increase / decrease | $ 8 |
Employee Benefits - Summary o_6
Employee Benefits - Summary of Maturity Profile of Defined Benefit Obligation (Details) $ in Millions | Mar. 31, 2019USD ($) |
Less Than 1 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | $ 29 |
1-2 Years | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 30 |
2 - 3 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 31 |
3 - 4 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 32 |
4 - 5 Year | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | 34 |
5 - 10 Years | |
Disclosure Of Defined Benefit Plans [Line Items] | |
Gross amount of benefit obligation at period end | $ 168 |
Employee Benefits - Details of
Employee Benefits - Details of Benefit Obligation (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Provident Fund | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Benefit obligation at the period end | $ 866 | $ 792 |
Employee Benefits - Employee Be
Employee Benefits - Employee Benefit Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Employee benefit cost | $ 6,468 | $ 6,034 | $ 5,612 |
Employee Benefit Cost | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Salaries and bonus | 6,338 | 5,910 | 5,501 |
Defined contribution plans | 44 | 40 | 37 |
Defined benefit plans | 86 | 84 | 74 |
Employee benefit cost | $ 6,468 | $ 6,034 | $ 5,612 |
Employee Benefits - Employee _2
Employee Benefits - Employee Benefit Costs (Parenthetical) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Abstract] | |||
Stock compensation expense | $ 29 | $ 13 | $ 17 |
Equity - Additional Information
Equity - Additional Information (Details) | Jun. 22, 2019USD ($) | Apr. 12, 2019₨ / shares | Apr. 12, 2019$ / shares | Apr. 01, 2019shares | Jan. 11, 2019$ / shares | Jan. 11, 2019INR (₨)₨ / sharesshares | Jun. 30, 2018$ / shares | Jun. 30, 2018INR (₨)₨ / shares | Mar. 31, 2019USD ($)Vote$ / sharesshares | Mar. 31, 2019USD ($)Vote$ / sharesshares | Mar. 31, 2019INR (₨)₨ / sharesshares | Mar. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2017USD ($)shares | Mar. 31, 2019₨ / shares | Sep. 30, 2018₨ / sharesshares | Mar. 31, 2018₨ / shares | Oct. 07, 2017USD ($) | Oct. 07, 2017INR (₨) | Aug. 19, 2017shares | Apr. 01, 2016shares | Jun. 30, 2015₨ / sharesshares | |
Disclosure Of Equity [Line Items] | ||||||||||||||||||||||
Par value per share | (per share) | $ 0.16 | $ 0.16 | $ 0.16 | ₨ 5 | ₨ 5 | ₨ 5 | ₨ 5 | |||||||||||||||
Bonus shares issued | 2,184,191,490 | 1,148,472,332 | ||||||||||||||||||||
Treasury shares issued | 10,486,661 | |||||||||||||||||||||
Number of bonus equity shares for every equity share held | 1 | 1 | ||||||||||||||||||||
Number of ADS stock dividend for every ADS held | 1 | 1 | ||||||||||||||||||||
Treasury shares | 20,324,982 | 20,324,982 | 10,801,956 | 11,289,514 | 11,323,576 | |||||||||||||||||
Maximum share value available for buy back | ₨ 82,600,000,000 | $ 1,184,000,000 | ₨ 82,600,000,000 | |||||||||||||||||||
Maximum buyback price per share | ₨ / shares | ₨ 800 | |||||||||||||||||||||
Capital redemption reserve | $ | $ 10,000,000 | $ 10,000,000 | $ 9,000,000 | |||||||||||||||||||
Number of votes per equity share | Vote | 1 | 1 | ||||||||||||||||||||
Dividends paid | $ | [1] | $ 1,957,000,000 | 1,156,000,000 | $ 1,033,000,000 | ||||||||||||||||||
Final dividend proposed | (per share) | ₨ 10.50 | $ 0.15 | $ 0.15 | ₨ 10.50 | ||||||||||||||||||
Dividend paid | $ | $ 1,956,000,000 | $ 1,156,000,000 | $ 1,032,000,000 | |||||||||||||||||||
Top of Range | ||||||||||||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||||||||||||
Percentage of free cash flow as dividend payout | 70.00% | |||||||||||||||||||||
Nonadjusting Events After Reporting Period | ||||||||||||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||||||||||||
Dividend paid | $ | $ 780,000,000 | |||||||||||||||||||||
Buyback Program | ||||||||||||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||||||||||||
Par value per share | ₨ / shares | 5 | |||||||||||||||||||||
Special dividend declared per share | (per share) | $ 0.06 | ₨ 4 | $ 0.08 | ₨ 5 | ||||||||||||||||||
Maximum share value available for buy back | ₨ | ₨ 82,600,000,000 | |||||||||||||||||||||
Maximum buyback price per share | ₨ / shares | ₨ 800 | |||||||||||||||||||||
Share value available for buy back | ₨ | ₨ 130,000,000,000 | |||||||||||||||||||||
Maximum number of shares buy backed | 103,250,000 | |||||||||||||||||||||
Percentage of equity shares repurchased | 2.36% | 2.36% | 4.92% | |||||||||||||||||||
Buyback of shares commencement date | Mar. 20, 2019 | Mar. 20, 2019 | ||||||||||||||||||||
Buyback of shares expected completion date | September 2019 | September 2019 | ||||||||||||||||||||
Equity shares repurchased | 12,652,000 | 12,652,000 | 113,043,478 | |||||||||||||||||||
Number of equity shares purchased not extinguished | 1,818,000 | 1,818,000 | ||||||||||||||||||||
Number of equity shares purchased not settled and extinguished | 3,636,000 | 3,636,000 | ||||||||||||||||||||
Capital redemption reserve | $ | $ 1,000,000 | $ 1,000,000 | $ 9,000,000 | |||||||||||||||||||
Amount authorized to be paid out to shareholders | $ 2,000,000,000 | ₨ 130,000,000,000 | ||||||||||||||||||||
Per share price of stock repurchased | ₨ / shares | ₨ 1,150 | |||||||||||||||||||||
Borrowings | $ | 0 | $ 0 | ||||||||||||||||||||
Buyback Program | Nonadjusting Events After Reporting Period | ||||||||||||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||||||||||||
Number of equity shares repurchased subsequent to balance sheet date | 57,600,000 | |||||||||||||||||||||
Equity A D S | ||||||||||||||||||||||
Disclosure Of Equity [Line Items] | ||||||||||||||||||||||
Special dividend declared per share | $ / shares | $ 0.14 | |||||||||||||||||||||
Dividends paid | $ | $ 1,956,000,000 | |||||||||||||||||||||
[1] | net of treasury shares |
Equity - Summary of Dividend Pa
Equity - Summary of Dividend Payout (Details) | 12 Months Ended | |||||
Mar. 31, 2019₨ / shares | Mar. 31, 2019$ / shares | Mar. 31, 2018₨ / shares | Mar. 31, 2018$ / shares | Mar. 31, 2017₨ / shares | Mar. 31, 2017$ / shares | |
Dividend per Equity Share | ||||||
Disclosure Of Equity [Line Items] | ||||||
Interim dividend | ₨ / shares | ₨ 7 | ₨ 6.50 | ₨ 5.50 | |||
Final dividend | ₨ / shares | 10.25 | ₨ 7.38 | ₨ 7.13 | |||
Special dividend | ₨ / shares | ₨ 9 | |||||
Equity A D S | ||||||
Disclosure Of Equity [Line Items] | ||||||
Interim dividend | $ / shares | $ 0.10 | $ 0.10 | $ 0.09 | |||
Final dividend | $ / shares | 0.16 | $ 0.12 | $ 0.11 | |||
Special dividend | $ / shares | $ 0.14 |
Equity - Summary of Dividend _2
Equity - Summary of Dividend Payout (Parethetical) (Details) | 12 Months Ended | |||
Mar. 31, 2019₨ / shares | Mar. 31, 2019$ / shares | Mar. 31, 2018₨ / shares | Mar. 31, 2018$ / shares | |
Disclosure Of Equity [Abstract] | ||||
Special dividend | (per share) | ₨ 4 | $ 0.06 | ₨ 5 | $ 0.08 |
Other income net - Summary of O
Other income net - Summary of Other Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Revenue [Abstract] | |||
Interest income on financial assets carried at amortized cost | $ 201 | $ 260 | $ 352 |
Interest income on financial assets fair valued through other comprehensive income | 92 | 106 | 28 |
Dividend income on investments carried at fair value through profit or loss | 1 | 4 | |
Gain / (loss) on investments carried at fair value through profit or loss | 24 | 39 | 18 |
Exchange gains / (losses) on forward and options contracts | 27 | 89 | |
Exchange gains / (losses) on translation of other assets and liabilities | 18 | 36 | (54) |
Others | 49 | 71 | 22 |
Other income | $ 411 | $ 513 | $ 459 |
Leases - Additional Information
Leases - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |||
Rental expense for operating leases | $ 83 | $ 82 | $ 73 |
Operating lease arrangements period | 10 years |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Rental Payments in Respect of Non-cancellable Operating Leases (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Less Than 1 Year | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Future minimum rental payments in respect of non-cancellable operating leases | $ 90 | $ 70 |
Due in a period between one year and five years | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Future minimum rental payments in respect of non-cancellable operating leases | 259 | 213 |
Due after five years | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Future minimum rental payments in respect of non-cancellable operating leases | $ 128 | $ 134 |
Employees' Stock Option Plans_3
Employees' Stock Option Plans (ESOP) - Additional Information (Details) ₨ in Millions | Feb. 01, 2019shares | May 02, 2018shares | Feb. 27, 2018shares | Feb. 20, 2018USD ($)Installment | Feb. 20, 2018INR (₨)Installment | Oct. 14, 2016 | Mar. 31, 2016shares | Mar. 31, 2019USD ($)shares | Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares | Apr. 01, 2016shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Number of shares authorized | 4,800,000,000 | 2,400,000,000 | ||||||||||
Number of shares outstanding | [1] | 2,285,621,088 | 4,335,954,462 | 2,173,312,301 | 2,285,655,150 | |||||||
Treasury shares | 20,324,982 | 10,801,956 | 11,289,514 | 11,323,576 | ||||||||
Vesting period, maximum term | three years | three years | ||||||||||
Total granted | 4,414,790 | 5,644,446 | 8,385,500 | |||||||||
Cash settled stock compensation expense | $ | $ 1,000,000 | $ 1,000,000 | ||||||||||
2015 Stock Incentive Compensation Plan | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Instruments average vesting period | 4 years | |||||||||||
Treasury shares | 20,324,982 | 10,801,956 | ||||||||||
Number of shares earmarked for welfare activities of the employees | 200,000 | 100,000 | ||||||||||
Weighted average share price, exercised | $ | $ 10.01 | $ 7.74 | $ 8.05 | |||||||||
2015 Stock Incentive Compensation Plan | Restricted Stock Units and Employee Stock Option Plan | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Vesting period | 4 years | |||||||||||
2015 Stock Incentive Compensation Plan | Chief Executive Officer and Managing Director | Annual Grant of Restricted Stock Units (RSUs) | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Fair value of instruments eligibility annual equity grants | $ 500,000 | ₨ 32.5 | ||||||||||
Vesting period | will vest over time in 3 equal annual installments upon completion of each year of service from the respective grant date | will vest over time in 3 equal annual installments upon completion of each year of service from the respective grant date | ||||||||||
Number of annual installments | Installment | 3 | 3 | ||||||||||
Total granted | 42,930 | 217,200 | 56,512 | |||||||||
2015 Stock Incentive Compensation Plan | Chief Executive Officer and Managing Director | One Time Grant Restricted Stock Units (RSUs) | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Vesting period | will vest over time in 2 equal annual installments upon completion of each year of service from the grant date | will vest over time in 2 equal annual installments upon completion of each year of service from the grant date | ||||||||||
Number of annual installments | Installment | 2 | 2 | ||||||||||
Fair value of instruments eligibility for one time equity grants | $ 1,500,000 | ₨ 97.5 | ||||||||||
Total granted | 169,536 | |||||||||||
2015 Stock Incentive Compensation Plan | Chief Executive Officer and Managing Director | Annual Grant Performance Based Restricted Stock Units (RSUs) | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Vesting period | will vest after completion of three years the first of which concludes on March 31, 2021, subject to achievement of performance targets set by the Board or its committee. | will vest after completion of three years the first of which concludes on March 31, 2021, subject to achievement of performance targets set by the Board or its committee. | ||||||||||
Fair value of instruments annual grant performance based RSU | $ 2,000,000 | ₨ 130 | ||||||||||
2015 Stock Incentive Compensation Plan | U.B. Pravin Rao | Restricted Stock Units (RSUs) | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Total granted | 68,250 | |||||||||||
2015 Stock Incentive Compensation Plan | Top of Range | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Number of shares authorized | 24,038,883 | |||||||||||
Expected period to grant instruments | 7 years | |||||||||||
2015 Stock Incentive Compensation Plan | Bottom of Range | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Expected period to grant instruments | 4 years | |||||||||||
2011 Restricted Stock Units Plan | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Number of shares outstanding | 11,223,576 | |||||||||||
Incentive Units Cash Settled | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Total granted | 74,090 | 100,080 | 224,420 | |||||||||
Incentive Units Cash Settled | Annual Grant of Restricted Stock Units (RSUs) | ||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||
Incentive units outstanding net of forfeitures | 177,454 | 223,514 | ||||||||||
[1] | excludes treasury shares of 20,324,982 as of March 31, 2019, 10,801,956 as of March 31, 2018 and 11,289,514 as of March 31, 2017 and 11,323,576 April 1, 2016, held by consolidated trust. The treasury shares as at March 31, 2018, March 31, 2017 and April 1, 2016 have not been adjusted for the September 2018 bonus issue. |
Employees' Stock Option Plans_4
Employees' Stock Option Plans (ESOP) - Summary of Stock Option Grant (Details) - shares | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 4,414,790 | 5,644,446 | 8,385,500 |
ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 4,340,700 | 5,544,366 | 8,161,080 |
Incentive Units Cash Settled | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 74,090 | 100,080 | 224,420 |
Salil Parekh, CEO and MD | RSU | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 260,130 | 226,048 | |
U.B. Pravin Rao, COO and WTD | RSU | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 68,250 | 140,500 | |
Dr.Vishal Sikka | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 1,201,498 | 241,400 | |
Other K M P | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 368,100 | 631,100 | 1,497,600 |
Employees Other Than K M P | ESOP | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 3,644,220 | 3,345,220 | 6,422,080 |
Other Employees | Incentive Units Cash Settled | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Total grants | 74,090 | 100,080 | 224,420 |
Employees' Stock Option Plans_5
Employees' Stock Option Plans (ESOP) - Schedule of Break-up of Employee Stock Compensation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |||
Granted to KMP | $ 5 | $ (2) | $ 5 |
Granted to employees other than KMP | 24 | 15 | 12 |
Total | 29 | 13 | $ 17 |
Cash settled stock compensation expense included in the above | $ 1 | $ 1 |
Employees' Stock Option Plans_6
Employees' Stock Option Plans (ESOP) - Schedule of Break-up of Employee Stock Compensation Expense (Parentheticals) (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2018USD ($) | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Reversal of stock compensation cost toward forfeiture of stock incentives | $ 5 |
Employees' Stock Option Plans_7
Employees' Stock Option Plans (ESOP) - Schedule of Equity Settled Share Based Payment Transaction (Details) | 12 Months Ended | |||
Mar. 31, 2019USD ($)shares | Mar. 31, 2018USD ($)shares | Mar. 31, 2017USD ($)shares | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options, Granted | 4,414,790 | 5,644,446 | 8,385,500 | |
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16), Shares | [1] | 392,528 | 700,629 | 34,062 |
2015 Stock Incentive Compensation Plan | ||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options outstanding, Beginning balance | 9,434,644 | |||
Shares arising out of options, Ending balance | 10,804,374 | 9,434,644 | ||
2015 Stock Incentive Compensation Plan | RSU | ||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options outstanding, Beginning balance | 7,500,818 | 5,922,746 | 443,010 | |
Shares arising out of options, Granted | 4,340,700 | 4,561,216 | 5,749,380 | |
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16), Shares | 1,864,510 | 1,296,434 | 68,124 | |
Shares arising out of options, Forfeited and expired | 795,810 | 1,686,710 | 201,520 | |
Shares arising out of options, Ending balance | 9,181,198 | 7,500,818 | 5,922,746 | |
Shares arising out of options, Exercisable at the end | 235,256 | 48,410 | ||
Weighted average exercise price outstanding, Beginning balance | $ | $ 0.04 | $ 0.04 | $ 0.04 | |
Weighted average exercise price, Granted | $ | 0.05 | 0.04 | 0.04 | |
Weighted average exercise price, Exercised | $ | 0.04 | 0.04 | ||
Weighted average exercise price, Forfeited and expired | $ | 0.04 | 0.04 | 0.04 | |
Weighted average exercise price outstanding, Ending balance | $ | 0.05 | 0.04 | $ 0.04 | |
Weighted average exercise price, Exercisable at the end | $ | $ 0.04 | $ 0.04 | ||
2015 Stock Incentive Compensation Plan | Employee Stock Option Plan | ||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||
Shares arising out of options outstanding, Beginning balance | 1,933,826 | 2,395,300 | ||
Shares arising out of options, Granted | 983,150 | 2,411,700 | ||
Shares issued on exercise of employee stock options - before bonus issue (Refer to note 2.16), Shares | 117,350 | 104,824 | ||
Shares arising out of options, Forfeited and expired | 193,300 | 1,339,800 | 16,400 | |
Shares arising out of options, Ending balance | 1,623,176 | 1,933,826 | 2,395,300 | |
Shares arising out of options, Exercisable at the end | 698,500 | 393,824 | ||
Weighted average exercise price outstanding, Beginning balance | $ | $ 7.62 | $ 7.63 | ||
Weighted average exercise price, Granted | $ | 7.31 | $ 7.63 | ||
Weighted average exercise price, Exercised | $ | 7.35 | 7.63 | ||
Weighted average exercise price, Forfeited and expired | $ | 7.43 | 7.42 | 7.63 | |
Weighted average exercise price outstanding, Ending balance | $ | 7.46 | 7.62 | $ 7.63 | |
Weighted average exercise price, Exercisable at the end | $ | $ 7.46 | $ 7.63 | ||
[1] | excludes treasury shares of 20,324,982 as of March 31, 2019, 10,801,956 as of March 31, 2018 and 11,289,514 as of March 31, 2017 and 11,323,576 April 1, 2016, held by consolidated trust. The treasury shares as at March 31, 2018, March 31, 2017 and April 1, 2016 have not been adjusted for the September 2018 bonus issue. |
Employees' Stock Option Plans_8
Employees' Stock Option Plans (ESOP) - Schedule of Equity Settled RSUs and ESOPs Outstanding (Details) - 2015 Stock Incentive Compensation Plan | Mar. 31, 2019USD ($)shares | Mar. 31, 2018USD ($)shares |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Options oustanding, No.of shares arising out of options | shares | 10,804,374 | 9,434,644 |
Options outstanding, Weighted average remaining contractual life | shares | 2.20 | 2.57 |
Options outstanding, Weighted average exercise price | $ 1.16 | $ 1.59 |
0 - 0.07 (RSU) | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Options oustanding, No.of shares arising out of options | shares | 9,181,198 | 7,500,818 |
Options outstanding, Weighted average remaining contractual life | shares | 1.70 | 1.89 |
Options outstanding, Weighted average exercise price | $ 0.05 | $ 0.04 |
0 - 0.07 (RSU) | Bottom of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | 0 | 0 |
0 - 0.07 (RSU) | Top of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | $ 0.07 | $ 0.04 |
6-8 (ESOP) | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Options oustanding, No.of shares arising out of options | shares | 1,623,176 | 1,933,826 |
Options outstanding, Weighted average remaining contractual life | shares | 5.04 | 6.60 |
Options outstanding, Weighted average exercise price | $ 7.46 | $ 7.62 |
6-8 (ESOP) | Bottom of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | 6 | 6 |
6-8 (ESOP) | Top of Range | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Range of exercise price per share | $ 8 | $ 8 |
Employees' Stock Option Plans_9
Employees' Stock Option Plans (ESOP) - Summary of Fair Value estimated on Date of Grant (Details) - Black-Scholes-Merton Model | 12 Months Ended | ||||||||
Mar. 31, 2019USD ($)yr | Mar. 31, 2019INR (₨)yr | Mar. 31, 2018USD ($)yr | Mar. 31, 2018INR (₨)yr | Mar. 31, 2017USD ($)yr | Mar. 31, 2017INR (₨)yr | Mar. 31, 2019INR (₨) | Mar. 31, 2018INR (₨) | Mar. 31, 2017INR (₨) | |
Restricted Stock Units (RSU) Grant Date | ₹ | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Weighted average share price | ₨ | ₨ 696 | ₨ 572 | ₨ 534 | ||||||
Exercise price | ₨ | ₨ 3.31 | ₨ 2.50 | ₨ 2.50 | ||||||
Expected dividends | 2.65% | 2.65% | 2.78% | 2.78% | 2.37% | 2.37% | |||
Weighted average fair value as on grant date | ₨ | ₨ 648 | ₨ 533 | ₨ 501 | ||||||
Restricted Stock Units (RSU) Grant Date | ₹ | Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 21.00% | 21.00% | 20.00% | 20.00% | 24.00% | 24.00% | |||
Expected life of the option (years) | 1 | 1 | 1 | 1 | 1 | 1 | |||
Risk-free interest rate | 7.00% | 7.00% | 6.00% | 6.00% | 6.00% | 6.00% | |||
Restricted Stock Units (RSU) Grant Date | ₹ | Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 25.00% | 25.00% | 25.00% | 25.00% | 29.00% | 29.00% | |||
Expected life of the option (years) | 4 | 4 | 4 | 4 | 4 | 4 | |||
Risk-free interest rate | 8.00% | 8.00% | 7.00% | 7.00% | 7.00% | 7.00% | |||
Restricted Stock Units (RSU) Grant Date | U.S. Dollars | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Weighted average share price | $ | $ 10.77 | $ 8.31 | $ 7.89 | ||||||
Exercise price | $ | $ 0.06 | $ 0.04 | $ 0.035 | ||||||
Expected dividends | 2.65% | 2.65% | 2.74% | 2.74% | 2.29% | 2.29% | |||
Weighted average fair value as on grant date | $ | $ 10.03 | $ 7.74 | $ 7.42 | ||||||
Restricted Stock Units (RSU) Grant Date | U.S. Dollars | Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 22.00% | 22.00% | 21.00% | 21.00% | 26.00% | 26.00% | |||
Expected life of the option (years) | 1 | 1 | 1 | 1 | 1 | 1 | |||
Risk-free interest rate | 2.00% | 2.00% | 1.00% | 1.00% | 1.00% | 1.00% | |||
Restricted Stock Units (RSU) Grant Date | U.S. Dollars | Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 26.00% | 26.00% | 26.00% | 26.00% | 29.00% | 29.00% | |||
Expected life of the option (years) | 4 | 4 | 4 | 4 | 4 | 4 | |||
Risk-free interest rate | 3.00% | 3.00% | 2.00% | 2.00% | 2.00% | 2.00% | |||
Employee Stock Option Plan Grant Date | ₹ | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Weighted average share price | ₨ | ₨ 461 | ||||||||
Exercise price | ₨ | ₨ 459 | ||||||||
Expected dividends | 2.78% | 2.78% | |||||||
Weighted average fair value as on grant date | ₨ | ₨ 127 | ||||||||
Employee Stock Option Plan Grant Date | ₹ | Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 25.00% | 25.00% | |||||||
Expected life of the option (years) | 3 | 3 | |||||||
Risk-free interest rate | 6.00% | 6.00% | |||||||
Employee Stock Option Plan Grant Date | ₹ | Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 28.00% | 28.00% | |||||||
Expected life of the option (years) | 7 | 7 | |||||||
Risk-free interest rate | 7.00% | 7.00% | |||||||
Employee Stock Option Plan Grant Date | U.S. Dollars | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Weighted average share price | $ | $ 7.32 | ||||||||
Exercise price | $ | $ 7.33 | ||||||||
Expected dividends | 2.74% | 2.74% | |||||||
Weighted average fair value as on grant date | $ | $ 1.47 | ||||||||
Employee Stock Option Plan Grant Date | U.S. Dollars | Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 25.00% | 25.00% | |||||||
Expected life of the option (years) | 3 | 3 | |||||||
Risk-free interest rate | 1.00% | 1.00% | |||||||
Employee Stock Option Plan Grant Date | U.S. Dollars | Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 31.00% | 31.00% | |||||||
Expected life of the option (years) | 7 | 7 | |||||||
Risk-free interest rate | 2.00% | 2.00% | |||||||
Employee Stock Option Plan Grant Date | ₹ | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Weighted average share price | ₨ | ₨ 494.5 | ||||||||
Exercise price | ₨ | ₨ 499 | ||||||||
Expected dividends | 2.37% | 2.37% | |||||||
Weighted average fair value as on grant date | ₨ | ₨ 142.5 | ||||||||
Employee Stock Option Plan Grant Date | ₹ | Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 27.00% | 27.00% | |||||||
Expected life of the option (years) | 3 | 3 | |||||||
Risk-free interest rate | 6.00% | 6.00% | |||||||
Employee Stock Option Plan Grant Date | ₹ | Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 29.00% | 29.00% | |||||||
Expected life of the option (years) | 7 | 7 | |||||||
Risk-free interest rate | 7.00% | 7.00% | |||||||
Employee Stock Option Plan Grant Date | U.S. Dollars | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Weighted average share price | $ | $ 7.63 | ||||||||
Exercise price | $ | $ 7.63 | ||||||||
Expected dividends | 2.29% | 2.29% | |||||||
Weighted average fair value as on grant date | $ | $ 1.73 | ||||||||
Employee Stock Option Plan Grant Date | U.S. Dollars | Bottom of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 27.00% | 27.00% | |||||||
Expected life of the option (years) | 3 | 3 | |||||||
Risk-free interest rate | 1.00% | 1.00% | |||||||
Employee Stock Option Plan Grant Date | U.S. Dollars | Top of Range | |||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||||||||
Expected volatility | 31.00% | 31.00% | |||||||
Expected life of the option (years) | 7 | 7 | |||||||
Risk-free interest rate | 2.00% | 2.00% |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Income Taxes [Line Items] | |||
Current taxes | $ 817 | $ 709 | $ 842 |
Deferred taxes | (14) | (52) | (8) |
Income tax expense | 803 | 657 | 834 |
Domestic Countries | |||
Income Taxes [Line Items] | |||
Current taxes | 600 | 721 | 616 |
Deferred taxes | 3 | (80) | (1) |
Foreign Countries | |||
Income Taxes [Line Items] | |||
Current taxes | 217 | (12) | 226 |
Deferred taxes | $ (17) | $ 28 | $ (7) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) $ / shares in Units, ₨ in Millions, $ in Millions | 12 Months Ended | ||||
Mar. 31, 2019USD ($)$ / shares | Mar. 31, 2019INR (₨) | Mar. 31, 2018USD ($)$ / shares | Mar. 31, 2018INR (₨) | Mar. 31, 2017USD ($)$ / shares | |
Income Taxes [Line Items] | |||||
Additional income tax provision reversed | $ 18 | $ 45 | $ 23 | ||
Applicable tax rate | 34.94% | 34.94% | 34.61% | 34.61% | 34.61% |
Tax reduction period | 5 years | 5 years | |||
Dividends received from owned subsidiary | $ 130 | ||||
Tax effect due to non-taxable income for Indian tax purposes | $ 386 | $ 321 | $ 295 | ||
Basic and diluted weighted average number of equity shares | $ / shares | $ 0.09 | $ 0.07 | $ 0.07 | ||
Deferred income tax liabilities not recognized amount of temporary differences | $ 869 | $ 774 | |||
Deferred income tax assets, not recognized on accumulated losses | 379 | 297 | |||
Group | |||||
Income Taxes [Line Items] | |||||
Income tax on dividend from subsidiary | 27 | ||||
Income tax claims not acknowledged as debt | 412 | ₨ 28,510 | |||
Group | Indian Income Tax Authorities | |||||
Income Taxes [Line Items] | |||||
Income tax claims not acknowledged as debt | 467 | ₨ 30,410 | |||
Amount paid to statutory authority | 857 | ₨ 59,240 | 1,003 | ₨ 65,400 | |
Other Income | |||||
Income Taxes [Line Items] | |||||
Interest on income tax refund | $ 7 | $ 41 | |||
First Five Year | |||||
Income Taxes [Line Items] | |||||
Percentage of tax reduction | 100.00% | 100.00% | |||
Second Five Year | Top of Range | |||||
Income Taxes [Line Items] | |||||
Percentage of tax reduction | 50.00% | 50.00% | |||
Third Five Year | Top of Range | |||||
Income Taxes [Line Items] | |||||
Percentage of tax reduction | 50.00% | 50.00% | |||
UNITED STATES | |||||
Income Taxes [Line Items] | |||||
Applicable tax rate | 21.00% | 21.00% | 35.00% | ||
Tax reforms impact on deferred tax liabilities | $ 24 | ||||
Branch profit tax | 15.00% | 15.00% | |||
Branch net assets | $ 751 | ||||
Deferred tax liability on branch profit tax, net of tax credits | 29 | ||||
Advanced Pricing Agreement | |||||
Income Taxes [Line Items] | |||||
Reversal of income tax expense pertaining to prior periods | 7 | 225 | |||
Expects to income tax to be paid | 223 | ||||
Amount paid | $ 215 | ||||
Reduction in current tax expense | 253 | ||||
Reversal of deferred tax assets | 21 | ||||
Increase in deferred tax liabilities | $ 7 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Income Tax Provision to Amount Computed by Applying Statutory Income Tax Rate to Income Before Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||
Profit before income taxes | $ 3,003 | $ 3,143 | $ 2,974 |
Applicable tax rate | 34.94% | 34.61% | 34.61% |
Computed expected tax expense | $ 1,049 | $ 1,088 | $ 1,029 |
Tax effect due to non-taxable income for Indian tax purposes | (386) | (321) | (295) |
Overseas taxes | 102 | 109 | 112 |
Tax provision (reversals) | (25) | (253) | (23) |
Effect of differential overseas tax rates | 8 | 10 | |
Effect of exempt non-operating income | (8) | (10) | (10) |
Effect of unrecognized deferred tax assets | 13 | 29 | 14 |
Effect of non-deductible expenses | 50 | 9 | 4 |
Branch profit tax (net of credits) | 4 | (32) | |
Subsidiary dividend distribution tax | 27 | ||
Others | 4 | 3 | (7) |
Income tax expense | $ 803 | $ 657 | $ 834 |
Income Taxes - Summary of Expir
Income Taxes - Summary of Expiration of Unused Tax Losses (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | $ 379 | $ 297 |
Less Than 1 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 25 | 14 |
1-2 Years | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 11 | 37 |
2 - 3 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 20 | 12 |
3 - 4 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 29 | 21 |
4 - 5 Year | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | 27 | 39 |
Due after five years | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred income tax assets, not recognized on accumulated losses | $ 267 | $ 174 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Assets and Income Tax Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2016 |
Major Components Of Tax Expense Income [Abstract] | ||||
Income tax assets | $ 975 | $ 931 | ||
Current income tax liabilities | (227) | (314) | ||
Net current income tax assets / (liabilities) at the end | $ 748 | $ 617 | $ 282 | $ 274 |
Income Taxes - Summary Gross Mo
Income Taxes - Summary Gross Movement in Current Income Tax Asset / (Liability) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Current Tax Expense Income And Adjustments For Current Tax Of Prior Periods [Abstract] | |||
Net current income tax asset / (liability) at the beginning | $ 617 | $ 282 | $ 274 |
Translation differences | (34) | (8) | 6 |
Income tax paid | 975 | 1,059 | 843 |
Current income tax expense | (817) | (709) | (842) |
Income tax on other comprehensive income | 1 | (2) | 1 |
Reclassified under assets held for sale (refer note no 2.9) | 3 | (5) | |
Reclassified from held for sale (Refer note 2.9) | 2 | ||
Income tax benefit arising on exercise of stock options | 1 | ||
Tax impact on buyback expenses | 1 | ||
Additions through business combination | (1) | ||
Net current income tax asset / (liability) at the end | $ 748 | $ 617 | $ 282 |
Income Taxes - Summary of Movem
Income Taxes - Summary of Movement in Gross Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Income Taxes [Line Items] | |||
Deferred income tax assets after set off | $ 199 | $ 196 | |
Deferred income tax liabilities after set off | (98) | (82) | |
Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 201 | 155 | $ 137 |
Changes through profit and loss | 26 | 49 | 16 |
Changes through OCI | 2 | ||
Reclassified from Held for Sale | 5 | ||
Reclassified as Held for Sale | (5) | ||
Translation difference | (9) | 2 | 2 |
Carrying value, ending balance | 225 | 201 | 155 |
Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (87) | (104) | (95) |
Changes through profit and loss | (12) | 3 | (8) |
Addition through business combination | (9) | ||
Changes through OCI | (2) | 2 | (1) |
Reclassified from Held for Sale | (13) | ||
Reclassified as Held for Sale | 13 | ||
Translation difference | (1) | (1) | |
Carrying value, ending balance | (124) | (87) | (104) |
Property, plant and equipment [member] | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 33 | 21 | 27 |
Changes through profit and loss | 7 | 12 | (6) |
Translation difference | (2) | ||
Carrying value, ending balance | 38 | 33 | 21 |
Accrued compensation to employees | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 2 | 9 | 10 |
Changes through profit and loss | 2 | (8) | |
Translation difference | 1 | (1) | |
Carrying value, ending balance | 4 | 2 | 9 |
Trade Receivables | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 22 | 21 | 13 |
Changes through profit and loss | 5 | 1 | 8 |
Translation difference | (1) | ||
Carrying value, ending balance | 26 | 22 | 21 |
Compensated absences | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 56 | 58 | 59 |
Changes through profit and loss | 4 | (3) | |
Translation difference | (3) | (2) | 2 |
Carrying value, ending balance | 57 | 56 | 58 |
Post sales client support | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 15 | 15 | 12 |
Changes through profit and loss | 1 | 3 | |
Translation difference | (1) | ||
Carrying value, ending balance | 15 | 15 | 15 |
Derivative financial instruments | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 2 | ||
Changes through profit and loss | (2) | 2 | |
Changes through OCI | 1 | ||
Carrying value, ending balance | 1 | 2 | |
Derivative financial instruments | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (11) | ||
Changes through profit and loss | (14) | 11 | (11) |
Changes through OCI | (2) | ||
Carrying value, ending balance | (16) | (11) | |
Credits related to branch profits | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 52 | ||
Changes through profit and loss | (3) | 53 | |
Translation difference | (1) | ||
Carrying value, ending balance | 49 | 52 | |
Others | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 18 | 22 | 7 |
Changes through profit and loss | 11 | (2) | 14 |
Changes through OCI | 1 | ||
Reclassified from Held for Sale | 5 | ||
Reclassified as Held for Sale | (5) | ||
Translation difference | (2) | 3 | 1 |
Carrying value, ending balance | 33 | 18 | 22 |
Others | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (4) | (11) | (6) |
Changes through profit and loss | (6) | 4 | (3) |
Addition through business combination | (1) | ||
Changes through OCI | 2 | (1) | |
Reclassified from Held for Sale | (1) | ||
Translation difference | 1 | 1 | (1) |
Carrying value, ending balance | (11) | (4) | (11) |
Branch profit tax | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (77) | (50) | (51) |
Changes through profit and loss | (1) | (25) | |
Translation difference | (2) | 1 | |
Carrying value, ending balance | (78) | (77) | (50) |
Computer software | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 6 | 8 | |
Changes through profit and loss | (6) | (2) | |
Carrying value, ending balance | 6 | ||
Intangible assets | Deferred income tax assets | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | 1 | 3 | 1 |
Changes through profit and loss | 1 | (3) | 2 |
Translation difference | 1 | ||
Carrying value, ending balance | 2 | 1 | 3 |
Intangible assets | Deferred income tax liabilities | |||
Income Taxes [Line Items] | |||
Carrying value, beginning balance | (6) | (32) | (38) |
Changes through profit and loss | 9 | 13 | 6 |
Addition through business combination | (8) | ||
Reclassified from Held for Sale | (12) | ||
Reclassified as Held for Sale | 13 | ||
Translation difference | (2) | ||
Carrying value, ending balance | $ (19) | $ (6) | $ (32) |
Income Taxes - Summary of Mov_2
Income Taxes - Summary of Movement in Gross Deferred Income Tax Assets and Liabilities (Parenthetical) (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2017USD ($) | |
Impact on Adoption of IFRS 9 | |
Income Taxes [Line Items] | |
Increase (decrease) in deferred tax liability (asset) | $ 1 |
Reconciliation of Basic and D_3
Reconciliation of Basic and Diluted Shares Used in Computing Earnings Per Equity Share - Table of Equity Shares Used in Computation of Basic and Diluted Earnings Per Equity Share (Details) - shares | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Weighted Average Shares And Adjusted Weighted Average Shares [Abstract] | |||
Basic earnings per equity share - weighted average number of equity shares outstanding (1)(2) | 4,347,130,157 | 4,510,664,644 | 4,571,278,894 |
Effect of dilutive common equivalent shares - share options outstanding | 6,290,615 | 4,483,096 | 1,514,596 |
Diluted earnings per equity share - weighted average number of equity shares and common equivalent shares outstanding | 4,353,420,772 | 4,515,147,740 | 4,572,793,490 |
Reconciliation of Basic and D_4
Reconciliation of Basic and Diluted Shares Used in Computing Earnings Per Equity Share - Additional Information (Details) - shares | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Weighted Average Shares And Adjusted Weighted Average Shares [Abstract] | |||
Number of options with anti-dilutive effect | 0 | 134,476 | 224,380 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related Party Transactions (Details) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Infosys Technologies (China) Co. Limited (Infosys China) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (China) Co. Limited (Infosys China) | |
Country | China | |
Holding as of | 100.00% | 100.00% |
Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies S. de R. L. de C. V. (Infosys Mexico) | |
Country | Mexico | |
Holding as of | 100.00% | 100.00% |
Infosys Technologies (Sweden) AB. (Infosys Sweden) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (Sweden) AB. (Infosys Sweden) | |
Country | Sweden | |
Holding as of | 100.00% | 100.00% |
Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (Shanghai) Company Limited (Infosys Shanghai) | |
Country | China | |
Holding as of | 100.00% | 100.00% |
Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Tecnologia DO Brasil LTDA. (Infosys Brasil) | |
Country | Brazil | |
Holding as of | 100.00% | 100.00% |
Infosys Public Services, Inc. USA (Infosys Public Services) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Public Services, Inc. USA (Infosys Public Services) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Austria GmbH formerly Lodestone Management Consultants GmbH | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Austria GmbH(1) (formerly Lodestone Management Consultants GmbH) | |
Country | Austria | |
Holding as of | 100.00% | 100.00% |
Infosys Americas Inc., (Infosys Americas) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Americas Inc., (Infosys Americas) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Chile SpA | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Chile SpA | |
Country | Chile | |
Holding as of | 100.00% | |
Infosys Arabia Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Arabia Limited | |
Country | Saudi Arabia | |
Holding as of | 70.00% | 70.00% |
Infosys McCamish Systems LLC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys McCamish Systems LLC | |
Country | U.S. | |
Holding as of | 99.98% | 99.98% |
Portland Group Pty Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Portland Group Pty Ltd | |
Country | Australia | |
Holding as of | 99.98% | 99.98% |
Infosys CIS LLC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys CIS LLC | |
Country | Russia | |
Infosys BPO Americas LLC. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys BPO Americas LLC. | |
Country | U.S. | |
Holding as of | 99.98% | 99.98% |
Infosys Luxembourg S.a.r.l | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Luxembourg S.a.r.l | |
Country | Luxembourg | |
Holding as of | 100.00% | |
Infosys Technologies (Australia) Pty. Limited (Infosys Australia) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Technologies (Australia) Pty. Limited (Infosys Australia) | |
Country | Australia | |
Holding as of | 100.00% | 100.00% |
EdgeVerve Systems Limited (EdgeVerve) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | EdgeVerve Systems Limited (EdgeVerve) | |
Country | India | |
Holding as of | 100.00% | 100.00% |
Infosys BPM Limited (formerly Infosys BPO Limited) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys BPM Limited (formerly Infosys BPO Limited) | |
Country | India | |
Holding as of | 99.98% | 99.98% |
Infosys (Czech Republic) Limited s.r.o. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys (Czech Republic) Limited s.r.o. | |
Country | Czech Republic | |
Holding as of | 99.98% | 99.98% |
Lodestone Management Consultants Inc | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Management Consultants Inc. | |
Country | U.S. | |
Holding as of | 100.00% | |
Infosys Canada Public Services Inc | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Canada Public Services Inc | |
Country | Canada | |
Infosys Poland, Sp z.o.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Poland, Sp z.o.o | |
Country | Poland | |
Holding as of | 99.98% | 99.98% |
Infosys Consulting Holding AG (Infosys Lodestone) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Holding AG (Infosys Lodestone) | |
Country | Switzerland | |
Holding as of | 100.00% | 100.00% |
Infosys Management Consulting Pty Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Management Consulting Pty Limited | |
Country | Australia | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting AG | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting AG | |
Country | Switzerland | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting GmbH | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting GmbH | |
Country | Germany | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting SAS | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting SAS | |
Country | France | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting s.r.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting s.r.o. | |
Country | Czech Republic | |
Holding as of | 100.00% | 100.00% |
Infy Consulting Company Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infy Consulting Company Ltd | |
Country | U.K. | |
Holding as of | 100.00% | 100.00% |
Infy Consulting B.V. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infy Consulting B.V. | |
Country | The Netherlands | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting Sp. z.o.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Sp. z.o.o | |
Country | Poland | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting (Shanghai) Co., Ltd.(formerly Lodestone Management Consultants Co., Ltd) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting (Shanghai) Co., Ltd.(formerly Lodestone Management Consultants Co., Ltd) | |
Country | China | |
Holding as of | 100.00% | 100.00% |
Lodestone Management Consultants Portugal, Unipessoal, Lda. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Lodestone Management Consultants Portugal, Unipessoal, Lda. | |
Country | Portugal | |
Holding as of | 100.00% | 100.00% |
S.C. Infosys Consulting S.R.L. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | S.C. Infosys Consulting S.R.L. | |
Country | Romania | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting S.R.L. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting S.R.L. | |
Country | Argentina | |
Holding as of | 100.00% | 100.00% |
Infosys Canada Public Services Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Canada Public Services Ltd. | |
Country | Canada | |
Infosys Nova Holdings LLC (Infosys Nova) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Nova Holdings LLC. (Infosys Nova) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Panaya Inc (Panaya) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Inc. (Panaya) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting Ltda | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Ltda. | |
Country | Brazil | |
Holding as of | 99.99% | 99.99% |
Panaya Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Ltd. | |
Country | Israel | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting (Belgium) NV | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting (Belgium) NV | |
Country | Belgium | |
Holding as of | 99.90% | 99.90% |
Panaya Gmbh | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya GmbH | |
Country | Germany | |
Holding as of | 100.00% | 100.00% |
Panaya Japan Co. Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Panaya Japan Co. Ltd | |
Country | Japan | |
Holding as of | 100.00% | 100.00% |
Skava Systems Pvt Ltd (Skava Systems) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Skava Systems Pvt. Ltd. (Skava Systems) | |
Country | India | |
Holding as of | 100.00% | 100.00% |
Kallidus Inc.(Kallidus) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Kallidus Inc. (Kallidus) | |
Country | U.S. | |
Holding as of | 100.00% | 100.00% |
Noah Consulting LLC (Noah) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Noah Consulting LLC (Noah) | |
Country | U.S. | |
Noah Information Management Consulting Inc (Noah Canada) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Noah Information Management Consulting Inc. (Noah Canada) | |
Country | Canada | |
Brilliant Basics Holdings Limited (Brilliant Basics) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Brilliant Basics Holdings Limited (Brilliant Basics) | |
Country | U.K. | |
Holding as of | 100.00% | 100.00% |
Brilliant Basics Limited | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Brilliant Basics Limited | |
Country | U.K. | |
Holding as of | 100.00% | 100.00% |
Brilliant Basics (MENA) DMCC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Brilliant Basics (MENA) DMCC | |
Country | Dubai | |
Holding as of | 100.00% | 100.00% |
Infosys Consulting Pte Limited (Infosys Singapore) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Consulting Pte Limited (Infosys Singapore) | |
Country | Singapore | |
Holding as of | 100.00% | 100.00% |
Infosys Middle East FZ LLC | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Middle East FZ LLC | |
Country | Dubai | |
Holding as of | 100.00% | 100.00% |
Fluido Oy | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Fluido Oy | |
Country | Finland | |
Holding as of | 100.00% | |
Fluido Sweden AB (Extero) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Fluido Sweden AB (Extero) | |
Country | Sweden | |
Holding as of | 100.00% | |
Fluido Norway A/S | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Fluido Norway A/S | |
Country | Norway | |
Holding as of | 100.00% | |
Fluido Denmark A/S | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Fluido Denmark A/S | |
Country | Denmark | |
Holding as of | 100.00% | |
Fluido Slovakia s.r.o | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Fluido Slovakia s.r.o | |
Country | Slovakia | |
Holding as of | 100.00% | |
Fluido Newco AB | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Fluido Newco AB | |
Country | Sweden | |
Holding as of | 100.00% | |
Infosys Compaz Pte. Ltd (formerly Trusted Source Pte. Ltd) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys Compaz Pte. Ltd (formerly Trusted Source Pte. Ltd) | |
Country | Singapore | |
Holding as of | 60.00% | |
Infosys South Africa (Pty) Ltd | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | Infosys South Africa (Pty) Ltd | |
Country | South Africa | |
WoongDoody Holding Company Inc | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | WongDoody Holding Company Inc. (WongDoody) | |
Country | U.S. | |
Holding as of | 100.00% | |
WDW Communications, Inc | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | WDW Communications, Inc | |
Country | U.S. | |
Holding as of | 100.00% | |
Wong Doody, Inc | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Particulars | WongDoody, Inc | |
Country | U.S. | |
Holding as of | 100.00% |
Related Party Transactions - _2
Related Party Transactions - Schedule of Related Party Transactions (Parenthetical) (Details) | Nov. 16, 2018 | Oct. 11, 2018 | Mar. 31, 2019 |
Infosys Chile SpA | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Incorporation Effective Date | Nov. 20, 2017 | ||
Noah Consulting LLC (Noah) | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Liquidation effective date | Nov. 9, 2017 | ||
Noah Information Management Consulting Inc (Noah Canada) | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Liquidation effective date | Dec. 20, 2017 | ||
Brilliant Basics Holdings Limited | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Voting interest in subsidiary | 100.00% | ||
Wongdoody Holding Company Inc. | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Voting interest in subsidiary | 100.00% | ||
Lodestone Management Consultants Inc | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Liquidation effective date | May 4, 2018 | ||
Infosys Luxembourg S.a.r.l | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Incorporation Effective Date | Aug. 6, 2018 | ||
Infosys South Africa (Pty) Ltd | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Incorporation Effective Date | Dec. 19, 2018 | ||
Fluido Oy | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Voting interest in subsidiary | 100.00% | ||
Infosys CIS LLC | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Incorporation Effective Date | Nov. 29, 2018 | ||
Infosys Compaz Pte Limited | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Voting interest in subsidiary | 60.00% | ||
Infosys Canada Public Services Inc | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Incorporation Effective Date | Nov. 27, 2018 | ||
Infosys Canada Public Services Ltd. | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Liquidation effective date | May 9, 2017 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | $ 130 | ||
Chief Executive Officer and Managing Director | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Appointment term | 5 years | ||
DWA Nova LLC | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Write down of Investment | 11 | ||
Infosys Consulting AG | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | $ 4 | ||
Tax on dividend | |||
Infy Consulting Company Ltd. | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 3 | 5 | |
Tax on dividend | |||
Infosys BPM Limited (formerly Infosys BPO Limited) | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Tax on dividend | 27 | ||
Dividends received from owned subsidiary | 130 | ||
S.C. Infosys Consulting S.R.L. | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 1 | ||
Tax on dividend | |||
Infosys Consulting s.r.o | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 1 | 1 | |
Tax on dividend | |||
Infy Consulting B.V. | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Dividends received from owned subsidiary | 3 | 1 | |
Tax on dividend |
Related Party Transactions - _3
Related Party Transactions - Schedule of List of Other Related Parties (Details) | 12 Months Ended |
Mar. 31, 2019 | |
Infosys Limited Employees' Gratuity Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Limited Employees' Gratuity Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys |
Infosys Limited Employees' Provident Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Limited Employees' Provident Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys |
Infosys Limited Employees' Superannuation Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Limited Employees' Superannuation Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys |
Infosys BPM Limited Employees’ Superannuation Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys BPM Limited Employees’ Superannuation Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys BPM |
Infosys BPM Limited Employees’ Gratuity Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys BPM Limited Employees’ Gratuity Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of Infosys BPM |
EdgeVerve Systems Limited Employees' Gratuity Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | EdgeVerve Systems Limited Employees‘ Gratuity Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of EdgeVerve |
EdgeVerve Systems Limited Employees' Superannuation Fund Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | EdgeVerve Systems Limited Employees’ Superannuation Fund Trust |
Country | India |
Nature of relationship | Post-employment benefit plan of EdgeVerve |
Infosys Employees' Welfare Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Employees’ Welfare Trust |
Country | India |
Nature of relationship | Controlled Trust |
Infosys Employee Benefits Trust | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Employee Benefits Trust |
Country | India |
Nature of relationship | Controlled Trust |
Infosys Science Foundation | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Name of other related parties | Infosys Science Foundation |
Country | India |
Nature of relationship | Controlled Trust |
Related Party Transactions - _4
Related Party Transactions - Schedule of Related Party Transactions with Key Management Personnel (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Key Management Personnel Stock Compensation Expense [Abstract] | |||
Salaries and other employee benefits to whole-time directors and executive officers | $ 14 | $ 8 | $ 12 |
Commission and other benefits to non-executive / independent directors | 1 | 2 | 2 |
Total compensation | $ 15 | $ 10 | $ 14 |
Related Party Transactions - _5
Related Party Transactions - Schedule of Related Party Transactions with Key Management Personnel (Parenthetical) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Employee stock compensation expense towards KMP | $ 5,000 | $ (2,000) | $ 5,000 |
Reversal of stock compensation cost toward forfeiture of stock incentives | 5,000 | ||
Former Chief Executive Officer and Managing Director | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Reversal of stock compensation cost toward forfeiture of stock incentives | 5,000 | ||
Whole Time Directors And Executive Officers | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Employee stock compensation expense towards KMP | $ 5,000 | $ (2,000) | 5,000 |
General Counsel and Chief Compliance Officer | |||
Disclosure Of Key Management Personnel Stock Compensation Expense [Line Items] | |||
Amount payable under severance agreement | $ 870 |
Segment Reporting - Schedule of
Segment Reporting - Schedule of Segmented Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of Operating Segments [Line Items] | |||
Revenues | $ 11,799 | $ 10,939 | $ 10,208 |
Identifiable operating expenses | 6,365 | 5,727 | 5,253 |
Allocated expenses | 2,449 | 2,264 | 2,180 |
Segment profit | 2,985 | 2,948 | 2,775 |
Unallocable expenses | 289 | 289 | 255 |
Operating profit | 2,696 | 2,659 | 2,520 |
Other income, net | 411 | 513 | 459 |
Reduction in the fair value of Disposal Group held for sale (Refer Note 2.9) | (39) | (18) | |
Share in associate's profit/ (loss), including impairment | (11) | (5) | |
Adjustment in respect of excess of carrying amount over recoverable amount on reclassification from "Held for Sale" | (65) | ||
Profit before income taxes | 3,003 | 3,143 | 2,974 |
Income tax expense | 803 | 657 | 834 |
Net profit | 2,200 | 2,486 | 2,140 |
Depreciation and amortisation | 287 | 289 | 254 |
Non-cash expenses other than depreciation and amortisation | 107 | 29 | 1 |
Financial Services | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 3,778 | ||
Retail | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,935 | ||
Communication | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,488 | ||
Manufacturing | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,163 | ||
Hi-Tech | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 882 | ||
Life Science | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 743 | ||
All other segments | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 327 | ||
Operating Segments | Financial Services | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 3,778 | 3,594 | 3,357 |
Identifiable operating expenses | 2,021 | 1,876 | 1,747 |
Allocated expenses | 775 | 731 | 701 |
Segment profit | 982 | 987 | 909 |
Operating Segments | Retail | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,935 | 1,760 | 1,711 |
Identifiable operating expenses | 974 | 878 | 863 |
Allocated expenses | 385 | 371 | 368 |
Segment profit | 576 | 511 | 480 |
Operating Segments | Communication | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,488 | 1,378 | 1,253 |
Identifiable operating expenses | 816 | 702 | 602 |
Allocated expenses | 312 | 269 | 257 |
Segment profit | 360 | 407 | 394 |
Operating Segments | Energy, Utilities, Resources and Services | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,483 | 1,287 | 1,137 |
Identifiable operating expenses | 808 | 652 | 552 |
Allocated expenses | 312 | 261 | 245 |
Segment profit | 363 | 374 | 340 |
Operating Segments | Manufacturing | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 1,163 | 1,035 | 948 |
Identifiable operating expenses | 644 | 602 | 538 |
Allocated expenses | 255 | 235 | 213 |
Segment profit | 264 | 198 | 197 |
Operating Segments | Hi-Tech | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 882 | 796 | 772 |
Identifiable operating expenses | 506 | 431 | 403 |
Allocated expenses | 154 | 140 | 134 |
Segment profit | 222 | 225 | 235 |
Operating Segments | Life Science | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 743 | 729 | 661 |
Identifiable operating expenses | 394 | 378 | 328 |
Allocated expenses | 147 | 135 | 129 |
Segment profit | 202 | 216 | 204 |
Operating Segments | All other segments | |||
Disclosure of Operating Segments [Line Items] | |||
Revenues | 327 | 360 | 369 |
Identifiable operating expenses | 202 | 208 | 220 |
Allocated expenses | 109 | 122 | 133 |
Segment profit | $ 16 | $ 30 | $ 16 |
Segment Reporting - Summary of
Segment Reporting - Summary of Revenue by Geography (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure Of Geographical Areas [Line Items] | |||
Revenues | $ 11,799 | $ 10,939 | $ 10,208 |
North America | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenues | 7,141 | 6,605 | 6,320 |
Europe | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenues | 2,847 | 2,596 | 2,295 |
INDIA | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenues | 292 | 346 | 325 |
Rest of the World | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenues | $ 1,519 | $ 1,392 | $ 1,268 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Details) - Customer | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 | |
Information About Major Customers [Abstract] | |||
Number of client individually accounted for more than 10% of revenue | 0 | 0 | 0 |