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Notes forming part of consolidated onancial statements (Contd.)
210
•
Annual Report 2016-17
Ageing of trade receivables
(In
`
million)
As at
March 31, 2017
March 31, 2016
Within the credit period
3,350.54
2,968.53
1 to 30 days past due
745.16
562.40
31 to 60 days past due
193.57
259.17
61 to 90 days past due
178.98
303.36
91 to 120 days past due
121.26
111.62
121 and above past due
447.94
341.03
/ess: Expected credit loss
(283.62)
(270.62)
Net trade receivables
4,753.83
4,275.49
Movement in expected credit loss allowance
(In
`
Million)
As at
March 31, 2017
March 31, 2016
Opening balance
270.62
437.76
Movement in expected credit loss allowance
25.64
(196.10)
Translation differences
(12.64)
28.96
Closing balance
283.62
270.62
Credit risk on cash and cash equivalents is limited as the Group generally invests in deposits with banks and onancial
institutions with high credit ratings. Investments primarily include investment in debts mutual funds, tax free quoted
bonds.
Liquidity risk
The Group’s principal sources of liquidity are cash and cash equivalents and the cash pow 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 sufocient to meet
its current requirements. Accordingly, no liquidity risk is perceived.
As at March 31, 2017, the Group had a working capital of
`
9,870.20 million including cash and cash equivalents and
current oxed deposits of
`
1,639.40 million and current investments of
`
4,499.66 million. As at March 31, 2016, the
Group had a working capital of
`
8,888.89 million including cash and cash equivalents of
`
1,431.17 million and current
investments of
`
4,914.36 million.
The table below provides details regarding the contractual maturities of signiocant onancial liabilities:
(In
`
Million)
As at March 31, 2017
As at March 31, 2016
Less than
1 year
More than
1 year
/ess than
1 year
More than
1 year
Borrowings (including accrued interest)
5.53
21.71
5.77
26.91
Trade payables and deferred payment liabilities
1,210.22
19.74
1,603.66
-
Other onancial liabilities (excluding borrowings)
447.19
-
528.86
-