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Shaping the future of software driven business
Consolidated Financials •
247
Notes forming part of consolidated financial statements (Contd.)
Ageing of trade receivables
In
`
Million
As at
March 31, 2019
March 31, 2018
Within the credit period
4,180.82
3,350.59
1 to 30 days past due
320.33
774.61
31 to 60 days past due
153.87
347.81
61 to 90 days past due
118.34
249.37
91 to 120 days past due
70.02
50.33
121 and above past due
214.17
221.66
Less: Expected credit loss
(134.54)
(146.97)
Net trade receivables
4,923.01
4,847.40
Movement in expected credit loss allowance
In
`
Million
As at
March 31, 2019
March 31, 2018
Opening balance
146.97
283.62
Movement in expected credit loss allowance
(4.89)
(151.38)
Translation differences
(7.54)
14.73
Closing balance
134.54
146.97
Credit risk on cash and cash equivalents is limited as the Group generally invests in deposits with banks and financial institutions
with high credit ratings. Investments primarily include investment in debt mutual funds, quoted bonds.
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 bank borrowings. The investment of surplus cash is governed by the Group’s investment policy
approved by the Board of Directors. The Group believes that the working capital is sufficient to meet its current requirements.
Accordingly, no liquidity risk is perceived.
As at March 31, 2019, the Group had a working capital of
`
14,055.68 million including cash and cash equivalents and current
fixed deposits of
`
2,123.77 million and current investments of
`
3,295.53 million. As at March 31, 2018, the Group had a working
capital of
`
12,750.04 million including cash and cash equivalents and current fixed deposits of
`
3,278.01 million and current
investments of
`
5,916.31 million.
The table below provides details regarding the contractual maturities of significant financial liabilities:
In
`
Million
As at March 31, 2019
As at March 31, 2018
Less than
1 year
More than
1 year
Less than
1 year
More than
1 year
Borrowings (including accrued interest)
4.75
11.97
5.36
16.55
Trade payables and deferred payment liabilities
1,517.07
-
1,673.08
-
Other financial liabilities (excluding borrowings)
437.18
-
390.97
-
34. Derivative instruments and un-hedged foreign currency exposures
(i) Forward contracts outstanding at the end of the year:
(In
`
Million)
As at March 31, 2019
As at March 31, 2018
Forward contracts to sell USD: Hedging of expected future
receivables of USD 112 Million (Previous year USD 103 Million)
8,175.45
6,895.53