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• Annual Report 2018-19
Shaping the future of software driven business
Notes forming part of financial statements (Contd.)
31. Financial assets and liabilities
The carrying values and fair values of financial instruments by categories are as follows:
(In
`
Million)
Financial assets/ financial liabilities
Basis of
measurement
As at March 31, 2019
As at March 31, 2018
Fair value
hierarchy
Carrying value Fair value
Carrying value
Fair value
Assets:
Investments in subsidiaries and associates
Cost
3,406.42
3,406.42
2,695.25
2,695.25
Investments in other equity instruments
Fair value
6.00
6.00
6.00
6.00
Level 3
Investments in bonds*
Amortised cost
2,156.68
2,120.86
1,146.11
1,139.71
Investments in mutual funds
Fair value
5,270.44
5,270.44
7,573.80
7,573.80
Level 1
Loans
Amortised cost
122.64
122.64
950.28
950.28
Deposit with banks and financial institutions
Amortised cost
5,262.21
5,262.21
1,928.64
1,928.64
Cash and cash equivalents (including unpaid dividend)
Amortised cost
567.39
567.39
306.68
306.68
Trade receivables (net)
Amortised cost
2,429.85
2,429.85
3,425.07
3,425.07
Forward contracts receivable
Fair value
281.27
281.27
42.75
42.75
Level 2
Unbilled revenue
Amortised cost
1,577.47
1,577.47
715.47
715.47
Other current financial assets
Amortised cost
76.03
76.03
73.48
73.48
Other non current financial assets (Share application
money paid)
Cost
78.72
78.72
-
-
Total
21,235.12
21,199.30
18,863.53
18,857.13
Liabilities:
Borrowings (including accrued interest)
Amortised cost
16.72
16.72
21.91
21.91
Trade payables and deferred payment liabilities
Amortised cost
1,019.07
1,019.07
716.73
716.73
Other financial liabilities (excluding borrowings)
Amortised cost
135.25
135.25
285.50
285.50
Total
1,171.04
1,171.04
1,024.14
1,024.14
* Includes interest accrued.
Fair value hierarchy:
The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consists of the
following three levels:
Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 — Inputs are 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 are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on
assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.