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Annual Report 2016-17
Other bank balances
Deposits with banks having maturity of not more than twelve months from the Balance Sheet date including interest
thereon and the balance on unpaid dividend account are considered under other bank balances. These deposits
amounted to
`
47.05 Million as at March 31, 2017 as compared to
`
37.55 Million as at March 31, 2016. The deposits have
increased as a result of additional deposits made during the year and increase in interest accrued on the deposits. The
balance on unpaid dividend account was
`
1.20 Million as at March 31, 2017 as against
`
1.21 Million as at March 31, 2016.
Please refer Note 15 of the consolidated onancials for details.
Loans
Current loans include unsecured short term loans granted and the security deposits with short term maturity. The
amount of current loans as at March 31, 2017 was
`
14.00 Million as against
`
9.12 Million as at March 31, 2016. The
increase in the balance is mainly on account of unsecured loan granted during the current year. Please refer Note 16 of
the consolidated onancials for details.
Other current onancial assets
Other current onancial assets were
`
2,316.03 Million as at March 31, 2017 as compared to
`
1,763.98 Million as at
March 31, 2016. Following are the components of other current onancial assets:
(In
`
Million)
Particulars
As at
March 31, 2017
As at
March 31, 2016
Forward contracts receivable
412.80
164.40
Advances to suppliers
0.91
-
Deposit with onancial institutions (including interest accrued)
140.44
-
Unbilled revenue
1,761.88
1,599.58
TOTAL
2,316.03
1,763.98
The amount of forward contracts receivable represents favourable position (i.e. Mark To Market gain) as at the Balance
Sheet date in respect of the forward contracts entered by Company. During the year, the Company made an additional
deposit with a onancial institution which is maturing within twelve months from the date of Balance Sheet. Unbilled
revenue represents revenue recognized in relation to work done on time and material projects and o[ed price projects
until the Balance Sheet date for which billing has not taken place. The increase in unbilled revenue is mainly on account
of newly acquired IP /ed business where the invoicing schedule is on a quarterly basis as per the terms of the contract.
Please refer Note 17 of the consolidated onancials for details.
Other Current assets (other than onancial assets)
Other Current assets other than onancial assets include following:
(In
`
Million)
Particulars
As at
March 31, 2017
As at
March 31, 2016
Current ta[ assets (net)
94.42
153.12
Other current assets
855.39
803.32
Total
949.81
956.44
Other current assets include advances recoverable in cash or kind within period of twelve months from the Balance
Sheet date and VAT and Service Ta[ receivable. The net reduction in other current assets is mainly on account of
reduction in advance ta[ paid.