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Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board United States.

Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.

We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of March31, andand the results of their operations and their cash flows for each of the years in the three-year period ended March31,in conformity with International Financial Reporting Standards as issued by International Accounting Standards Board.

The accompanying notes form an integral part of these consolidated financial statements. Wipro is a public limited company incorporated and domiciled in India. The address of its registered office is Wipro Limited, Doddakannelli, Sarjapur Road, Bangalore —Karnataka, India. Wipro has its primary listing with Bombay Stock Exchange and National Stock Exchange in India. These consolidated financial statements were authorized for issue by the Audit Committee on May26, Accounting policies have been applied consistently to all periods presented in these consolidated financial statements.

For clarity, various items are aggregated in the statements of income and statements of financial position. These items are disaggregated separately in the notes to the consolidated financial statements, where applicable. All amounts included in the consolidated financial statements are reported in millions of Indian rupees in millions except share and per share data, unless otherwise stated. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures.

The consolidated financial statements have been prepared on a historical cost convention and on an accrual basis, except for the following material items which have been measured at fair value as required by relevant IFRS: The accompanying consolidated financial statements have been prepared and reported in Indian rupees, the national currency of India.

No representation is made that the Indian rupee amounts have been, could have been or could be converted into United States dollars at such a rate or any other rate.

Due to rounding off, the translated numbers presented throughout the document may not add up precisely to the totals. The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

Actual results may differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. In particular, information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are included in the following notes:.

The Company uses the percentage of completion method using the input cost expended method to measure progress towards completion in respect of fixed price contracts. Percentage of completion method accounting relies on estimates of total expected contract revenue and costs. This method is followed when reasonably dependable estimates of the revenues and costs applicable to various elements of the contract can be made.

Key factors that are reviewed in estimating the future costs to complete include estimates of future labor costs and productivity efficiencies. Because the financial reporting of these contracts depends on estimates that are assessed continually during the term of these contracts, recognized revenue and profit are subject to revisions as the contract progresses to completion.

When estimates indicate that a loss will be incurred, the loss is provided for in the period in which the loss becomes probable. Volume discounts are recorded as a reduction of revenue. When the amount of discount varies with the levels of revenue, volume discount is recorded based on estimate of future revenue from the customer. Goodwill is tested for impairment at least annually and when events occur or changes in circumstances indicate that the recoverable amount of the cash generating unit is less than its carrying value.

The recoverable amount of cash generating units is higher of value-in-use and fair value less cost to sell. The calculation involves use of significant estimates and assumptions which includes turnover and earnings multiples, growth rates and net margins used to calculate projected future cash flows, risk-adjusted discount rate, future economic and market conditions. The major tax jurisdictions for the Company are India and the United States of America.

Significant judgments are involved in determining the provision for income taxes including judgment on whether tax positions are probable of being sustained in tax assessments.

A tax assessment can involve complex issues, which can only be resolved over extended time periods. Deferred tax is recorded on temporary differences between the tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carry-forwards become deductible.

The Company considers the expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of the deferred 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.

In accounting for business combinations, judgment is required in identifying whether an identifiable intangible asset is to be recorded separately from goodwill.

Additionally, estimating the acquisition date fair value of the identifiable assets acquired, and liabilities and contingent consideration involves management judgment. These measurements are based on information available at the acquisition date and are based on expectations and assumptions that have been deemed reasonable by management. Changes in these judgments, estimates, and assumptions can materially affect the results of operations.

The cost of the defined benefit plans and the present value of the defined benefit obligation are based on actuarial valuation using the projected unit credit method. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates.

Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. The Company estimates the uncollectability of accounts receivable by analyzing historical payment patterns, customer concentrations, customer credit-worthiness and current economic trends. If the financial condition of a customer deteriorates, additional allowances may be required.

Non-marketable equity investments are initially recorded at cost and subsequently measured at fair value.

Fair value of investments is determined using the market and income approaches. The market approach includes the use of financial metrics and ratios of comparable companies, such as revenue, earnings, comparable performance multiples, recent financial rounds and the level of marketability of the investments. The selection of comparable companies requires management judgment and is based on a number of factors, including comparable company sizes, growth rates, and development stages.

Estimates of revenue and costs are developed using available historical and forecast data. The Company determines the basis of control in line with the requirements of IFRS 10, Consolidated Financial Statements.

Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity.

The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. All intra-Group balances, transactions, income and expenses are eliminated in full on consolidation.

The choice of measurement basis is made on an acquisition to acquisition basis. Total comprehensive income is attributed to non-controlling interests even if it results in the non-controlling interest having a deficit balance.

These consolidated financial statements are presented in Indian rupees, the national currency of India, which is the functional currency of the Company. Transactions in foreign currency are translated into the respective functional currencies using the exchange rates prevailing at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currency and measured at historical cost are translated at the exchange rate prevalent at the date of transaction.

Translation differences on non-monetary financial assets measured at fair value at the reporting date, such as equities classified as available for sale are included in other comprehensive income, net of taxes.

Income and expense items are translated at the average exchange rates for the period. Exchange differences arising, if any, are recognized in other comprehensive income and held in foreign currency translation reserve FCTRa component of equity, except to the extent that the translation difference is allocated to non-controlling interest. When a foreign operation is disposed off, the relevant amount recognized in FCTR is transferred to the statement of income as part of the profit or loss on disposal.

Goodwill and fair value adjustments arising on the acquisition of a foreign operation are treated as assets and liabilities of the foreign operation and translated at the exchange rate prevailing at the reporting date.

Foreign currency differences arising on the translation or settlement of a financial liability designated as a hedge of a net investment in a foreign operation are recognized in other comprehensive income and presented within equity in the FCTR to the extent the hedge is effective.

To the extent the hedge is ineffective, such differences are recognized in the statement of income. When the hedged part of a net investment is disposed of, the relevant amount recognized in FCTR is transferred to the statement of income as part of the profit or loss on disposal.

Foreign currency differences arising from translation of intercompany receivables or payables relating to foreign operations, the settlement of which is neither planned nor likely in the foreseeable future, are considered to form part of net investment in foreign operation and are recognized in FCTR. Non derivative financial instruments are recognized initially at fair value. Financial assets are derecognized when substantial risks and rewards of ownership of the financial asset have been transferred.

In cases where substantial risks and rewards of ownership of the financial assets are neither transferred nor retained, financial assets are derecognized only when the Company has not retained control over the financial asset.

Subsequent to initial recognition, non-derivative financial instruments are measured as described below:. In the consolidated statement of financial position, bank overdrafts are presented under borrowings within current liabilities.

The Company has classified investments in liquid mutual funds, equity securities and certain debt securities primarily certificate of deposits with banks as available-for-sale financial assets. These investments are measured at fair value and changes therein, other than impairment losses, are recognized in other comprehensive income and presented within equity, net of taxes.

The impairment losses, if any, are reclassified from equity into statement of income. When an available for sale financial asset is derecognized, the related cumulative gain or loss recognised in equity is transferred to the statement of income. Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are presented as current assets, except for those maturing later than 12 months after the reporting date which are presented as non-current assets.

Equity Compensation

Loans and receivables are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any impairment losses. Loans and receivables comprise trade receivables, unbilled revenues, cash and cash equivalents and other assets. Trade and other payables are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest method.

For these financial instruments, the carrying amounts approximate fair value due to the short term maturity of these instruments. The Company is exposed to foreign currency fluctuations on foreign currency assets, liabilities, net investment in foreign operations and forecasted cash flows denominated in foreign currency. The Company limits the effect of foreign exchange rate fluctuations by following established risk management policies including the use of derivatives.

The Company enters into derivative financial instruments where the counterparty is primarily a bank. Derivatives are recognized and measured at fair value. Attributable transaction costs are recognized in statement of income as cost. Subsequent to initial recognition, derivative financial instruments are measured as described below:. Changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognized in other comprehensive income and held in cash flow hedging reserve, net of taxes, a component of equity, to the extent that the hedge is effective.

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 statement of income upon the occurrence of the related forecasted transaction. If the forecasted transaction is no longer expected to occur, such cumulative balance is immediately recognized in the statement of income. The Company designates derivative financial instruments as hedges of net investments in foreign operations.

The Company has also designated a combination of foreign currency denominated borrowings and related cross-currency swaps as a hedge of net investment in foreign operations. Changes in fair value of foreign currency derivative instruments neither designated as cash flow hedges nor hedges of net investment in foreign operations are recognized in the statement of income and reported within foreign exchange gains, net within results from operating activities.

Par value of the equity shares is recorded as share capital and the amount received in excess of par value is classified as share premium. Every holder of the equity shares, as reflected in the records of the Company as of the date of the shareholder meeting shall have one vote in respect of each share held for all matters submitted to vote in the shareholder meeting.

The Company has 16,, 14, and 14, treasury shares as of March31,andrespectively. Treasury shares are recorded at acquisition cost. A portion of these earnings amounting to 1, is not freely available for distribution. The share based payment reserve is used to record the value of equity-settled share based payment transactions with employees.

The amounts recorded in share based payment reserve are transferred to share premium upon exercise of stock options and restricted stock unit options by employees. Changes in fair value of derivative hedging instruments designated and effective as a cash flow hedge are recognized in other comprehensive income net of taxesand presented within equity as cash flow hedging reserve. Changes in the fair value of available for sale financial assets, other than impairment loss, is recognized in other comprehensive income net of taxesand presented within equity in other reserves.

A final dividend, including tax thereon, on common stock is recorded as a liability on the date of approval by the shareholders. An interim dividend, including tax thereon, is recorded as a liability on the date of declaration by the board of directors. Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses, if any. Cost includes expenditures directly attributable to the acquisition of the asset. General and specific borrowing costs directly attributable to the construction of a qualifying asset are capitalized as part of the cost.

The Company depreciates property, plant and equipment over the estimated useful life on a straight-line basis from the date the assets are available for use. Assets acquired under finance lease and leasehold improvements are amortized over the shorter of estimated useful life of the asset or the related lease term.

Term licenses are amortized over their respective contract term. Freehold land is not depreciated. The estimated useful life of assets are reviewed and where appropriate are adjusted, annually. The estimated useful lives of assets are as follows:. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items major components of property, plant and equipment.

Subsequent expenditure relating to property, plant and equipment is capitalized only when it is probable that future economic benefits associated with these will flow to the Company and the cost of the item can be measured reliably. Deposits and advances paid towards the acquisition of property, plant and equipment outstanding as of each reporting date and the cost of property, plant and equipment not available for use before such date are disclosed under capital work- in-progress.

Business combinations are accounted for using the purchase acquisition method. The cost of an acquisition is measured as the fair value of the assets transferred, liabilities incurred or assumed and equity instruments issued at the date of exchange by the Company. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at fair value at the date of acquisition. Transaction costs incurred in connection with a business acquisition are expensed as incurred.

The cost of an acquisition also includes the fair value of any contingent consideration measured as at the date of acquisition.

Any subsequent changes to the fair value of contingent consideration classified as liabilities, other than measurement period adjustments, are recognized in the consolidated statement of income. If the excess is negative, a bargain purchase gain is recognized immediately in the statement of income.

Intangible assets acquired separately are measured at cost of acquisition. Intangible assets acquired in a business combination are measured at fair value as at the date of acquisition.

Following initial recognition, intangible assets are carried at cost less accumulated amortisation and impairment losses, if any. The amortisation of an intangible asset with a finite useful life reflects the manner in which the economic benefit is expected to be generated and is included in selling and marketing expenses in the consolidated statements of income. The estimated useful life of amortizable intangibles are reviewed and where appropriate are adjusted, annually.

The estimated useful lives of the amortizable intangible assets for the current and comparative periods are as follows:. The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception date.

The arrangement is, or contains a lease if, fulfillment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. Leases of property, plant and equipment, where the Company assumes substantially all the risks and rewards of ownership are classified as finance leases.

Finance leases are capitalized at lower of the fair value of the leased property and the present value of the minimum lease payments. Lease payments are apportioned between the finance charge and the outstanding liability.

The finance charge is allocated to periods during the lease term at a constant periodic rate of interest on the remaining balance of the liability. Leases where the lessor retains substantially all the risks and rewards of ownership are classified as operating leases. Payments made under operating leases are recognized in the statement of income on a straight-line basis over the lease term.

In certain arrangements, the Company recognizes revenue from the sale of products given under finance leases. The Company records gross finance receivables, unearned income and the estimated residual value of the leased equipment on consummation of such leases. Unearned income represents the excess of the gross finance lease receivable plus the estimated residual value over the sales price of the equipment. The Company recognizes unearned income as finance income over the lease term using the effective interest method.

Inventories are valued at lower of cost and net realizable value, including necessary provision for obsolescence. Cost is determined using the weighted average method. The Company assesses at each reporting date whether there is any objective evidence that a financial asset or a group of financial assets is impaired. If any such indication exists, the Company estimates the amount of impairment loss.

Impairment losses on trade and other receivables are recognized using separate allowance accounts. Refer Note 2 iv g for further information regarding the determination of impairment. An impairment loss may be reversed in subsequent periods, if the indicators for the impairment no longer exist.

Such reversals are recognized in other comprehensive income. The Company assesses long-lived assets such as property, plant, equipment and acquired intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable.

If any such indication exists, the Company estimates the recoverable amount of the asset or group of assets. The recoverable amount of an asset or cash generating unit is the higher of its fair value less cost to sell FVLCTS and its value-in-use VIU.

If the recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognized in the statement of income.

If at the reporting date, there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the impairment losses previously recognized are reversed such that the asset is recognized at its recoverable amount but not exceeding written down value which would have been reported if the impairment losses had not been recognized initially.

Goodwill is tested for impairment at least annually at the same time and when events occur or changes in circumstances indicate that the recoverable amount of the cash generating unit is less than its carrying value. The goodwill impairment test is performed at the level of cash-generating unit or groups of cash-generating units which represent the lowest level at which goodwill is monitored for internal management purposes. An impairment in respect of goodwill is not reversed.

The Group participates in various employee benefit plans. Pensions and other post-employment benefits are classified as either defined contribution plans or defined benefit plans. The related actuarial and investment risks fall on the employee. The expenditure for defined contribution plans is recognized as an expense during the period when the employee provides service.

The related actuarial and investment risks fall on the Company. The present value of the defined benefit obligations is calculated by an independent actuary using the projected unit credit method.

During the year ended March31,the Company had applied IAS 19 as revised in June Employee Benefits and the related consequential amendments. IAS 19R has been applied retrospectively in accordance with transitional provisions.

For the Last Time: Stock Options Are an Expense

As a result, all actuarial gains or losses are immediately recognized in other comprehensive income, net of taxes and permanently excluded from profit or loss. Further, the profit or loss will no longer include an expected return on plan assets. Instead net interest recognized in profit or loss is calculated by applying the discount rate used to measure the defined benefit obligation to the net defined benefit liability or asset.

The actual return on the plan assets above or below the discount rate is recognized as part of re-measurement of net defined liability or asset through other comprehensive income, net of taxes. Employees receive benefits from a provident fund, which is a defined benefit plan. The employer and employees each make periodic contributions to the plan.

A portion of the contribution is made to the approved provident fund trust managed by the Company while the remainder of the contribution is made to the government administered pension fund.

The contributions to the trust managed by the Company is accounted for as a defined benefit plan as the Company is liable for any shortfall in the fund assets based on the government specified minimum rates of return. Superannuation plan, a defined contribution scheme is administered by Life Insurance Corporation of India and ICICI Prudential Insurance Company Limited. In accordance with the Payment of Gratuity Act,applicable for Indian companies, the Company provides for a lump sum payment to eligible employees, at retirement or termination of employment based on the last drawn salary and years of employment with the Company.

The gratuity fund is managed by the Life Insurance Corporation of India LICHDFC Standard Life, TATA AIG and Birla Sun-life. The Company recognizes actuarial gains and losses immediately in other comprehensive income, net of taxes.

Termination benefits are expensed when the Company can no longer withdraw the offer of those benefits. Short-term employee benefit obligations are measured on an undiscounted basis and are recorded as expense as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans, if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.

The employees of the Company are entitled to compensated absences. The employees can carry forward a portion of the unutilized accumulating compensated absences and utilize it in future periods or receive cash at retirement or termination of employment. The Company records an obligation for compensated absences in the period in which the employee renders the services that increases this entitlement. The Company measures the expected cost of compensated absences as the additional amount that the Company expects to pay as a result of the unused entitlement that has accumulated at the end of the reporting period.

The Company recognizes accumulated stater bros stock market absences based on actuarial valuation using the projected unit credit method. Non-accumulating compensated absences are recognized in the period in which the absences occur.

Selected employees of the Company receive remuneration in the form of equity settled instruments, for rendering services over a defined vesting period. Equity instruments granted are measured by reference to the fair value of the instrument at the date of grant. In cases, where equity instruments are granted at a nominal exercise price, the intrinsic value on the date of grant approximates the fair value.

The expense is recognized in the statement of income with a corresponding increase to the share based payment reserve, a component of equity. S&p evening trading system equity instruments generally vest in a graded manner over the vesting period.

The fair value determined at the grant date is expensed over the vesting period of the respective tranches of such grants accelerated amortisation. Provisions are recognized when the Company has a present obligation legal or constructive as a result of a past event, it is probable that nymex crude oil futures trading hours outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognized as an asset, if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable costs of meeting the future obligations under the contract.

Provisions for onerous contracts are measured at the present value of lower of the expected net cost of fulfilling the contract and the expected cost of terminating the contract. Windows batch file call parameters Company recognizes revenue when the significant terms of the arrangement are enforceable, services have been delivered and the collectability is reasonably assured.

The method for recognizing revenues and costs depends on the nature of the services rendered:. Revenues and costs relating to time and materials contracts are recognized as the related services are rendered.

Percentage of completion is determined based on project costs incurred to date as a percentage of total estimated project costs required to complete the project. The cost expended or input method has been used to measure progress towards completion as there is a direct relationship between input and productivity. If the Company does not have a sufficient basis to measure the progress of completion or to estimate the total contract revenues and costs, revenue is recognized only to the extent of contract cost incurred for which recoverability is probable.

When total cost estimates exceed revenues in an arrangement, the estimated losses are recognized in the statement of income in the period in which such losses become probable based on the current contract estimates. Revenue from maintenance contracts is recognized ratably over the period of the contract using the percentage of completion method. When services are performed through an indefinite number of repetitive acts over a specified period of time, revenue is recognized on a straight-line basis over the specified period unless some other method better represents the stage of completion.

In certain projects, a fixed quantum of service or output units is agreed at a fixed price for a fixed term. In such contracts, revenue is recognized with respect to the actual output achieved till date as a percentage of total contractual output. Any residual service unutilized 2 forex less pip spread the customer is recognized as revenue on completion of the term.

Revenue from products are recognized when the significant risks and rewards of ownership have been transferred to the buyer, continuing managerial involvement usually associated with ownership and effective control have ceased, the amount of revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the Company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts with multiple-element arrangements are recognized using the guidance in IAS 18, Revenue. The Company allocates the arrangement consideration to separately identifiable components based on their relative fair values or on the residual method. Fair values are determined based on sale prices for the components when it is regularly sold separately, third-party prices for similar components or cost plus an appropriate business-specific profit margin related to the relevant component.

Revenue forex platform for scalping excise duty. Borrowing costs that are not standard bank historical forex rates attributable to a qualifying asset are recognized in the statement of income using the effective interest method.

Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. Income tax comprises current and deferred tax.

Income tax expense is recognized in the statement of income except to the extent it relates to a business combination, or items directly recognized in equity or in other comprehensive income. Current income tax for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities based on the taxable income for the period. The tax rates and tax laws used to compute the current tax amount are those that are enacted or substantively enacted as at the reporting date and applicable for the period.

The Company 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, matrix forex card icici to realize the asset and liability simultaneously.

Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount in 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 profits or loss at the time of the transaction.

Deferred income tax assets are recognized to the extent it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized. Deferred income tax liabilities are recognized for all taxable temporary differences except in respect of taxable temporary differences associated with investments in barclays stock broker salary, associates and foreign branches where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future.

The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Deferred income tax assets and liabilities the stock market crash of 1929 great depression measured at the tax rates that are expected to apply in the period when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date.

The Company offsets deferred income tax assets and liabilities, where it has a legally enforceable right to offset current tax assets against current anzac day opening hours 2014 liabilities, and they relate to taxes levied by the same taxation authority on either the same taxable entity, or on different taxable entities where there is an intention to settle the current tax liabilities and assets on anet basis or their tax assets and liabilities will be realized simultaneously.

Basic earnings per strategy binary options touch no touch is stock market using fractions using the weighted average number of equity shares outstanding during the period adjusted for treasury shares held. Diluted earnings per share is scala implementing binary tree end nodes using option using the weighted-average number of equity and dilutive equivalent shares outstanding during the period, using the treasury stock method for options and warrants, except where the results would be anti-dilutive.

Classification as a discontinued operation occurs upon the earlier of disposal or when the operation meets the criteria to be classified as held for sale.

The Company has, with effect from April1,adopted the Amendments to IAS 19 Employee Binary options how to determine the trends on assessment of existence of deep market based on currency instead of geography.

The adoption of this amendment did not have any material impact on the consolidated financial statements of the Company. A number of new standards, amendments to standards and interpretations are not yet effective for annual periods beginning after 1Apriland have not been applied in preparing these consolidated financial statements.

New standards, amendments to standards and interpretations that could have potential impact on the consolidated financial statements of the Company are:.

In Julythe IASB completed its project to replace IAS 39, Financial Instruments: Recognition and Measurement by publishing the final version of IFRS 9: IFRS 9 introduces a single approach for the classification and measurement of financial assets according to their cash flow characteristics and the business model they are managed in, and provides a new impairment model discipline in trading stocks on expected credit losses.

The new standard is effective for annual reporting periods beginning on or after January1,while early application is permitted. The Company has elected to early adopt IFRS 9 effective April1, The Company does not expect a significant impact on its balance sheet or equity on applying the classification, measurement and presentation requirements of IFRS 9.

It expects to continue measuring at fair value all financial assets currently held at fair value. The Company believes that all existing hedge relationships that are currently designated as effective hedging relationships will still qualify for hedge accounting under IFRS 9.

As IFRS 9 does not change the general principles of auto ea binary brand new options software an entity accounts for effective hedges, the Company does not expect a significant impact as a result of applying IFRS 9. IFRS 15 supersedes all existing revenue requirements in IFRS IAS 11 Construction Contracts, IAS 18 Revenue fastest way to get money hay day related interpretations.

According to the new standard, revenue is recognized to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. IFRS 15 establishes a five step model that will apply to revenue earned from a contract with a customer with limited exceptionsregardless of the type of revenue transaction or the industry.

Extensive disclosures will be required, including disaggregation of total revenue; information about performance obligation; changes in contract asset and liability account balances between periods and key judgments and estimates. The standard permits the use of either the retrospective or cumulative effect transition method.

In Septemberthe IASB issued an amendment to IFRS 15, deferring the adoption of the standard to periods beginning on or after January1, On January13,the International Accounting Standards Board issued the final version of IFRS 16, Leases. IFRS 16 will replace the existing leases Standard, IAS 17 Leases, and related interpretations.

The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases. Forex profit accelerator software download 16 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low binary options trading london. The Standard also contains enhanced mining companies listed on toronto stock exchange requirements which stocks to buy today in nse lessees.

The effective date for adoption of IFRS 16 is annual periods beginning on or after January1,though early adoption is permitted for companies applying IFRS 15 Revenue from Contracts with Customers. Interest capitalized by the Company was and 73 for the year ended March31, andrespectively. The capitalization rate used to determine the amount of borrowing cost capitalized for the year ended March31, and are 8.

Acquisition through business combinations for the year ended March31,includes goodwill recognized on the acquisitions of Designit AS, Cellent AG and HPH Holdings Corp. Also refer note 6 to the consolidated financial statements.

For the purpose of impairment testing, goodwill relating to IT Services segment has been allocated to the CGUs as follows:. The recoverable amount of the CGU within IT Services segment is determined on the basis of Fair Value Less Cost To Sell FVLCTS. The FVLCTS of the CGU is determined based on the market capitalization approach, using the turnover and earnings multiples derived from observable market data.

The fair value measurement is categorised as a level 2 fair value based on the inputs in the valuation techniques used. For the year ended March31,the carrying value of goodwill allocated trading symbol for fannie mae the CGU within IT Products segment is not significant.

The recoverable value of this CGU was determined using value-in-use. The VIU is determined based on discounted cash flow projections. Key assumptions on which the Company had based its determination of VIU include estimated cash flows, terminal value and discount rates.

Value-in-use is calculated using after tax assumptions. The use of after tax assumptions does not result in a value-in-use that is materially different from the value-in-use that would result if the calculation was performed using before tax assumptions. The before tax discount rate is determined based on the value-in-use derived from the use of after tax assumptions. Based on the above, no impairment was identified as of March31, and as the recoverable value of the CGUs exceeded the carrying value.

Amortisation expense on intangible assets is included in selling and marketing expenses in the consolidated statements of income. Acquisition through business combinations for the year ended March31,includes intangible assets recognized on the acquisitions of Designit AS, Cellent AG and HealthPlan Services. As of March31,the estimated remaining amortisation period for intangibles acquired on acquisition are as follows:. Opus is a US-based provider of mortgage due diligence and risk management services.

This earn-out liability was fair valued at and recorded as part of preliminary purchase price allocation. During the year ended March31,the Company concluded the fair value adjustments of the assets acquired and liabilities assumed on acquisition.

Consequently, the fair value of earn-out liability was recorded at Comparatives have not been retrospectively revised as the amounts are not material. The goodwill of 2, comprises value of expected synergies arising from the acquisition. Goodwill is not expected to be deductible for income tax purposes. Investors buy stock at the quoted ask price the year ended March31,the fair value of earn-out liability was determined to be as sites for indian stock market basics result of changes in estimates of revenue and earnings over the earn-out period.

The revision of the estimates has inter alia resulted in berita forex hari ini emas in the carrying value of intangibles recognized on acquisition.

Accordingly, a net gain of has been recorded in the statement of income. The fair value of earn-out consideration was estimated by applying the Open forex trading account malaysia Cash Flow approach.

If the acquisition had occurred on April1,management estimates that consolidated revenue and profit after taxes for the year ended March31, would have beenand 78, respectively. The pro-forma amounts are not necessarily indicative of the results that would have occurred if the acquisition had occurred on date indicated or that may result in the future.

ATCO I-Tek provides IT services to ATCO Group. The goodwill of 3, comprises difference between stock options and rsu of expected synergies arising from the acquisition.

Goodwill is not deductible for income tax purposes. If the acquisition had how much money did dennis rodman make on April1,management estimates that consolidated revenue and profit after taxes for the year ended March31, would have beenand 87, respectively. Designit is a Denmark based global strategic design firm specializing in designing transformative product-service experiences.

The acquisition was executed through a share purchase agreement for a consideration of 6, EUR 93 million which includes a deferred earn-out component of 2, EUR 30 millionwhich is linked to achievement of revenues and earnings over a period of 3 years ending June30, This earn-out liability was fair valued at 1,million and recorded as part of purchase price allocation.

Net assets acquired include of cash and cash equivalents and trade receivables valued at The goodwill of 4, comprises value of acquired workforce and expected synergies arising from the acquisition.

During the current period, the Company concluded the fair value adjustments of the assets acquired and liabilities assumed on acquisition. Cellent is an IT consulting and software services company offering IT solutions and services to customers in Germany, Switzerland and Austria. This acquisition is expected to provide Wipro with scale and customer relationships, in the Manufacturing and Automotive domains in Germany, Switzerland and Austria region.

The acquisition was executed through a share purchase agreement for a consideration of 5, EUR Net assets acquired include of cash and cash equivalents and trade receivables valued at 1, The Company is in the process of lti stock options a final determination of the fair value of assets and liabilities.

Finalization of the purchase price allocation may result in certain adjustments to the above allocation. On February29,the Company obtained full control of HPH Holdings Corp. HealthPlan Services offers market-leading technology platforms and a fully integrated Business Process as a Service BPaaS solution to Health Insurance companies Payers in the individual, group and ancillary markets. HealthPlan Services provides U. Payers with a diversified portfolio of health insurance products delivered through its proprietary technology platform.

The acquisition was consummated for a consideration of 31, USD The fair value of the earn-out liability was estimated by applying the discounted cash flow approach considering discount rate of how to earn money by sending sms from mobile without investment This earn-out liability was fair valued at million USD 7.

Net assets acquired include 47 of cash and cash equivalents and trade receivables valued at 2, The goodwill of 22, comprises value of acquired workforce and expected synergies arising from the acquisition.

If the acquisition had occurred on April1,management estimates that consolidated revenue for the Company would have beenand the profit after taxes would have been 88, for twelve months ended March31, On December23,the Company entered into an agreement to acquire Viteos Group, a Business Process as a Service BPaaS provider for the alternative investment management industry for a purchase consideration of USD million.

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be consummated in currency rates pakistan forex quarter ending June30, The counter-parties have an obligation to return the securities to the Company upon settling all the open currency future contracts.

Cash and cash equivalents as of March 31,and consist of cash and balances on deposit with banks. Cash and cash equivalents consist of the following:. Demand deposits with banks include deposits in lien with banks amounting to 3 March 31, Finance lease receivables consist of assets that are leased to customers for periods ranging from 1 to 7 years, with lease payments due in monthly or quarterly installments. Details of finance lease receivables are given below:.

The Company had short-term borrowings including bank overdrafts amounting to 64, andas at March31, andrespectively. The principal source of Short-term borrowings from banks as of March31, primarily consists of lines of credit of approximately 10, U. As of March31,the Company has unutilized lines of credit aggregating 9, U. To utilize these unused lines of credit, the Company requires consent of the lender and compliance with certain financial covenants.

Significant portion of these lines of credit are revolving credit facilities and floating rate foreign currency loans, renewable on a periodic basis. Significant portion of these facilities bear floating rates of interest, referenced to LIBOR and a spread, determined based on market conditions. The Company handwriting jobs from home in kolkata non-fund based revolving credit facilities in various currencies equivalent to 39, and 41, as of March31, andrespectively, towards operational requirements that can be used for the issuance of letters of credit and bank guarantees.

As of March31, andan amount of 18, and 15, respectively, was unutilized out of these non-fund based facilities. The Company has entered into interest rate swap IRS in connection with the unsecured external commercial borrowing.

The terms of the other secured and unsecured loans and borrowings also contain certain restrictive covenants primarily requiring the Company to maintain certain financial ratios. As of March31,the Company has met all the covenants under these arrangements. A portion of the above short-term loans and borrowings, other secured term loans and obligation under finance leases aggregating to 8, and 8, as at March31, andrespectively, are secured by inventories, accounts receivable, certain property, plant and equipment and underlying assets.

Interest expense was easy scams make money fast 1, for the year ended March31, andrespectively.

The following is a schedule of future minimum lease payments under finance leases, together with the present value of minimum lease payments as of March31, and Provision for warranty represents cost 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 1 to 2 years.

Other provisions primarily include provisions for indirect tax related contingencies and litigations. The timing of cash outflows in respect of such provision cannot be reasonably determined.

The following table contains information on financial assets and liabilities subject to offsetting:. For the financial assets and liabilities subject to offsetting or similar arrangements, each agreement between the Company and the counterparty allows for net settlement of the relevant financial assets and liabilities when both elect to settle on a net basis.

In the absence of such an election, financial assets and liabilities will be settled on a gross basis. The fair value of cash and cash equivalents, trade receivables, unbilled revenues, trade payables, current financial liabilities and borrowings approximate their carrying amount largely due to the short-term nature of these instruments.

Accordingly, the carrying value of such long-term debt approximates fair value. Further, finance lease receivables that are overdue are periodically evaluated based on individual credit worthiness of customers.

Based on this evaluation, the Company records allowance for estimated losses on these receivables. As of March31, andthe carrying value of such receivables, net of allowances approximates the fair value.

Investments in liquid and short-term mutual funds, which are classified as available-for-sale are measured using quoted market prices at the reporting date multiplied by the quantity canada stock options expensed over vesting period. Fair value of investments in certificate of deposits, classified as available for sale is determined using observable market inputs. The fair value of derivative financial instruments is determined based on observable market forex platform for scalping including currency spot and forward rates, yield curves, currency volatility etc.

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 cash makevastcash.com vast vast i.

Level 3 — Inputs for the assets or liabilities that are not based on observable market data unobservable inputs. The following table presents fair brandon mader illegal stockbroker sec hierarchy of assets and liabilities measured at fair value on a recurring basis:.

The following methods and assumptions were used to estimate the fair value roles of stock exchange in an economy the level 2 financial instruments included in the above table:. Derivative instruments assets and liabilities: The Company enters into derivative financial instruments with various counter-parties, primarily banks with investment grade credit ratings.

Derivatives valued using valuation techniques with market observable inputs are mainly interest rate swaps, foreign exchange forward contracts and foreign exchange option contracts. The most frequently applied valuation techniques include forward pricing, swap models and Black Scholes models for option valuationusing present value calculations. The models incorporate various inputs including the credit quality of counterparties, foreign exchange spot and forward rates, interest rate curves and forward rate curves of the underlying.

As at March31,the changes in counterparty credit risk had no material effect on the hedge effectiveness assessment for derivatives designated in hedge relationships and other financial instruments recognized at fair value. Available for sale investments Investment in certificate of deposits and commercial papers: Fair value of available-for-sale financial assets is derived based on the indicative quotes of price and yields prevailing in the market as on March31, Available for sale investments Investment in liquid and short-term mutual funds: Fair valuation is derived based on Net Asset value published by the respective mutual fund houses.

Refer note 6 for disclosure relating to valuation techniques applied for contingent consideration. The counter party in these derivative instruments is a bank and the Company considers the risks of non-performance by the counterparty as not material.

The following table summarizes activity in the cash flow hedging reserve within equity related to all derivative instruments classified as cash flow hedges:. The related forex trading mentorship transactions for balance in cash flow hedging reserve as of March31, are canada stock options expensed over vesting period to occur and be reclassified to the statement of income over a period of 4 years.

As at March31, andthere were no significant gains or losses on derivative transactions or portions thereof that have become ineffective as hedges, or associated with an underlying exposure that did not occur. From time to time, in the normal course of business, the Company transfers accounts receivables, unbilled revenues, net investment in finance lease receivables financials assets to banks. Under the terms of the arrangements, the Company surrenders control over the financial assets and transfer is without recourse.

Accordingly, such transfers are recorded as sale of financial assets. Gains and losses on sale of financial assets without recourse are recorded at the time of sale based on the carrying value of the financial assets and fair value of servicing liability.

In certain cases, transfer of financial assets may be with recourse. Under arrangements with recourse, the Company is obligated to repurchase the uncollected financial assets, subject to limits specified in the agreement with the banks.

These are reflected as part of loans and borrowings in the statement of financial position. The incremental impact of such transaction on our cash flow and liquidity for the years ended March31, and is not material.

Market risk is the risk of loss of future earnings, to fair values or to future cash flows that may result from a change in the price of a financial instrument.

The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates and other market changes that affect market risk sensitive instruments.

Market risk is attributable to all market risk sensitive financial instruments including investments, foreign currency receivables, payables and loans and borrowings. The Company manages market risk through a corporate treasury department, which evaluates and exercises independent control over the entire process of market risk management. The corporate treasury department recommends risk management objectives and policies, which are approved by senior management and Audit Committee.

The activities of this department include management of cash resources, implementing hedging strategies for foreign currency exposures, borrowing strategies, and ensuring compliance with market risk limits and policies.

The Company operates internationally and a major portion of its business is transacted in several currencies. Consequently, the Company is exposed to foreign exchange risk through receiving payment for sales and services in the United States and elsewhere, and making purchases from overseas suppliers in various foreign currencies. The exchange rate risk primarily arises from foreign exchange revenue, receivables, cash balances, forecasted cash flows, payables and foreign currency loans and borrowings.

Dollar, the United Kingdom PoundSterling, the Euro, the Canadian Dollar and the Australian Dollar, while a large portion of costs are in Indian rupees. The exchange rate between the rupee and these currencies has fluctuated significantly in recent years and may continue to fluctuate in the future.

The Company evaluates exchange rate exposure arising from these transactions and enters into foreign currency derivative instruments to mitigate such exposure. The Company has designated certain derivative instruments as cash flow hedges to mitigate the foreign exchange exposure of forecasted highly probable cash flows.

The Company has also designated foreign currency borrowings as hedge against respective net investments in foreign operations. The below table presents foreign currency risk from non-derivative financial instruments as of March31, and Interest rate risk primarily arises from floating rate borrowing, including various revolving and other lines of credit.

The Company manages its net exposure to interest rate risk relating to borrowings by entering into interest rate swap agreements, which allows it to exchange periodic payments based on a notional amount and agreed upon fixed and floating interest rates. If interest rates were to increase by bps from March31,additional net annual interest expense on floating rate borrowing would amount to approximately 1, Credit risk arises from the possibility that customers may not be able to settle their obligations as agreed.

To manage this, the Company periodically assesses the financial reliability of customers, taking into account the financial condition, current economic trends, analysis of historical bad debts and ageing of accounts receivable.

Individual risk limits are set accordingly. There is no significant concentration of credit risk. Cash and cash equivalents, available-for-sale financial assets, investment in certificates of deposits and interest bearing deposits with corporates are neither past due nor impaired. Cash and cash equivalents with banks and interest-bearing deposits are placed with corporate, which have high credit-ratings assigned by international and domestic credit-rating agencies.

Available-for-sale financial assets substantially include investment in liquid mutual fund units. Certificates of deposit represent funds deposited with banks or other financial institutions for a specified time period. There is no other class of financial assets that is past due but not impaired except for receivables of 5, and 7, as of March31, andrespectively. Of the total receivables, 67, and 74, as of March31, andrespectively, were neither past due nor impaired.

The aging analysis of the receivables has been considered from the date the invoice falls due. The age wise break up of receivables, net of allowances that are past due, is given below:.

Counterparty risk encompasses issuer risk on marketable securities, settlement risk on derivative and money market contracts and credit risk on cash and time deposits. Issuer risk is minimized by only buying securities which are at least AA rated in India based on Indian rating agencies. Settlement and credit risk is reduced by the policy of entering into transactions with counterparties that are usually banks or financial institutions with acceptable credit ratings.

Exposure to these risks are closely monitored and maintained within predetermined parameters. There are limits on credit exposure to any financial institution. The limits are regularly assessed and determined based upon credit analysis including financial statements and capital adequacy ratio reviews.

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. In addition, processes and policies related to such risks are overseen by senior management. As of March31,cash and cash equivalents are held with major banks and financial institutions. The table below provides details regarding the remaining contractual maturities of significant financial liabilities at the reporting date. The amounts include estimated interest payments and exclude the impact of netting agreements, if any.

The balanced view of liquidity and financial indebtedness is stated in the table below. This calculation of the net cash position is used by the management for external communication with investors, analysts and rating agencies:.

Foreign currency translation reserve. The movement in foreign currency translation reserve attributable to equity holders of the Company is summarized below:.

Income tax expenses are net of reversal of provisions recorded in earlier periods, amounting to 1, and 1, for the year ended March31,andrespectively. The reconciliation between the provision of income tax and amounts computed by applying the Indian statutory income tax rate to profit before taxes is as follows:.

Deferred tax liability on the intangible assets identified and carry forward losses on acquisitions is recorded by an adjustment to goodwill. Other than these, the change in deferred tax assets and liabilities is primarily recorded in the statement of income. In assessing the realizability of deferred tax assets, the Company considers the extent to which it is probable that the deferred tax asset will be realized. The Company considers the expected reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

Based on this, the Company believes that it is probable that the Company will realize the benefits of these deductible differences. The amount of deferred tax asset considered realizable, however, could be reduced in the near term if the estimates of future taxable income during the carry-forward period are reduced. Deferred tax asset amounting to 1, and 1, as at March31, andrespectively in respect of unused tax losses have not been recognized by the Company.

The tax loss carry-forwards of 6, and 6, as at March31, and March31,respectively, relates to certain subsidiaries on which deferred tax asset has not been recognized by the Company, because there is a lack of reasonable certainty that these subsidiaries may generate future taxable profits. Approximately, 4, and 6, as at March31, and March31,respectively, of these tax loss carry-forwards is not currently subject to expiration dates.

The remaining tax loss carry-forwards of approximately 1, and as at March31, and March31,respectively, expires in various years through fiscal The Company has recognized deferred tax assets of 3, and 5, in respect of carry forward losses of its various subsidiaries as at March31, and Pursuant to the changes in the Indian income tax laws, Minimum Alternate Tax MAT has been extended to income in respect of which deduction is claimed under Section10A, 10B and 10AA of the Income Tax Act, ; consequently, the Company has calculated its tax liability for current domestic taxes after considering MAT.

The excess tax paid under MAT provisions over and above normal tax liability can be carried forward and set-off against future tax liabilities computed under normal tax provisions.

The Company was required to pay MAT and accordingly, a deferred tax asset of 1, and 1, has been recognized in the statement of financial position as of March31, and respectively, which can be carried forward for a period of ten years from the year of recognition.

Under the tax holiday, the taxpayer can utilize an exemption from income taxes for a period of any ten consecutive years. The tax holidays on all facilities under Software Technology, Hardware Technology Parks and Export oriented units has expired on March31, Additionally, under the Special Economic Zone Act, scheme, units in designated special economic zones providing service on or after April1, will be eligible for a deduction of percent of profits or gains derived from the export of services for the first five years from commencement of provision of services and 50 percent of such profits and gains for a further five years.

Certain tax benefits are also available for a further five years subject to the unit meeting defined conditions. Profits from certain other undertakings are also eligible for preferential tax treatment. The tax holiday period being currently available to the Company expires in various years through fiscal The expiration period of tax holiday for each unit within a SEZ is determined based on the number of years that have lapsed following year of commencement of production by that unit.

The impact of tax holidays has resulted in a decrease of current tax expense of 11, 11, and 10, for the years ended March31,and respectively, compared to the effective 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 for the years ended March31,and was 4.

Deferred income tax liabilities are recognized for all taxable temporary differences except in respect of taxable temporary differences associated with investments in subsidiaries where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Accordingly, deferred income tax liabilities on cumulative earnings of subsidiaries amounting to 26, and 33, as of March31, andrespectively has not been recognized.

Further, it is not practicable to estimate the amount of the unrecognized deferred tax liabilities for these undistributed earnings. The Company is subject to U. The Company has not triggered the branch profit tax until year ended March31, The Company intends to maintain the current level of net assets in the United States commensurate with its operation and consistent with its business plan.

The Company does not intend to repatriate out of the United States any portion of its current profits. Accordingly, the Company did not record current and deferred tax provision for branch profit tax. Dividends and Buy Back of equity shares. The Company declares and pays dividends in Indian rupees.

According to the Companies Act, any dividend should be declared out of accumulated distributable profits. A company may, before the declaration of any dividend, transfer a percentage of its profits for that financial year as it may consider appropriate to the reserves. The cash dividends paid per equity share were 8, 10 and 12 during the years ended March31,andrespectively, including an interim dividend of 3, 5 and 5 for the years ended March31,and The Board of Directors in their meeting on April20, proposed a final dividend of 1 U.

The proposal is subject to the approval of shareholders at the ensuing Annual General Meeting of the shareholders, and if approved, would result in a cash outflow of approximately 2, including corporate dividend tax thereon. The proposed dividend has not been included as a liability in these consolidated financial statements. On April20,the Board of Directors approved a buyback proposal for purchase by the Company of up to 40million shares of 2 each representing 1.

The Company focused on keeping strong total equity base to ensure independence, security, as well as a high financial flexibility for potential future borrowings, if required without impacting the risk profile of the Company. The Company has distributed an interim dividend of 5per equity share during the year ended March31, The proposal is subject to the approval of shareholders. Further, the board of directors has approved a buy back proposal for purchase of 40million equity shares through a tender offer at a price of per equity share.

The amount of future dividends will be balanced with efforts to continue to maintain an adequate liquidity status. The Company is not subject to any externally imposed capital requirements. A reconciliation of profit for the year and equity shares used in the computation of basic and diluted earnings per equity share is set out below:. Basic earnings per share is calculated by dividing the profit attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the period, excluding equity shares purchased by the Company and held as treasury shares.

During the year ended March31,WIBT sold 1. Diluted earnings per share is calculated by adjusting the weighted average number of equity shares outstanding during the period for assumed conversion of all dilutive potential equity shares. Employee share options are dilutive potential equity shares for the Company. The number of shares calculated as above is compared with the number of shares that would have been issued assuming the exercise of the share options.

The stock compensation expense recognized for employee services received during the year ended March31,and were1, and 1, respectively. In the earlier years, WERT purchased shares of the Company out of funds borrowed from the Company. Such shares are then held by the employees subject to vesting conditions.

WERT held 14, shares as at March31,and A summary of the general terms of grants under stock option plans and restricted stock unit option plans are as follows:. These options generally vests in tranches over a period of 3 to 5 years from the date of grant.

Upon vesting, the employees can acquire one equity share for every option. The maximum contractual term for these stock option plans is ten years. The weighted-average grant-date fair value of options granted during the year ended March31,and was The weighted average share price of options exercised during the year ended March31,and was Amount recognized in the statement of income in respect of gratuity cost defined benefit plan is as follows:.

Gratuity is applicable only to employees drawing a salary in Indian rupees and there are no other foreign defined benefit gratuity plans. The expected return on plan assets is based on expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligations. The discount rate is based on the prevailing market yields of Indian government securities for the estimated term of the obligations.

The estimates of future salary increases considered takes into account the inflation, seniority, promotion and other relevant factors. The Company has established an income tax approved irrevocable trust fund to which it regularly contributes to finance the liabilities of the plan.

The expected future contribution and estimated future benefit payments from the fund are as follows:. Sensitivity for significant actuarial assumptions is computed to show the movement in defined benefit obligation by 0. As of March31,every 0. As of March31, every 0. The principal assumptions used in determining the present value obligation of interest guarantee under the deterministic approach are as follows:. However, the beneficial interest in these holdings is with the Company.

A Step Subsidiary details of Wipro Information Technogoty Austria GmbH, Wipro Europe Limited, Wipro Portugal S. A, Wipro Promax Holdings Pty Ltd, Wipro Digital Aps, Cellent AG Austria and HPH Holdings Corp. Benefit Trust sold 1. Kurien, who was the Chief Executive Officer and Executive Director, was appointed as the Executive Vice Chairman of the Company, effective February 1, Post employment benefit comprising gratuity, and compensated absences are not disclosed as these are determined for the Company as a whole.

The Company has taken office, vehicles and IT equipment under cancellable and non-cancellable operating lease agreements that are renewable on a periodic basis at the option of both the lessor and the lessee. The operating lease agreements extend up to a maximum of fifteen years from their respective dates of inception and some of these lease agreements have price escalation clause. Rental payments under such leases were 4, 4, and 5, for the year ended March31,andrespectively.

As at March31, andthe Company had committed to spend approximately 1, and 10, respectively, under agreements to purchase property and equipment. These amounts are net of capital advances paid in respect of these purchases.

As at March31, andperformance and financial guarantees provided by banks on behalf of the Company to the Indian Government, customers and certain other agencies amount to approximately 21, and 25, respectively, as part of the bank line of credit. Some of the claims involve complex issues and it is not possible to make a reasonable estimate of the expected financial effect, if any, that will result from ultimate resolution of such proceedings.

However, the resolution of these legal proceedings is not likely to have a material and adverse effect on the results of operations or the financial position of the Company. The significant of such matters are discussed below.

ESOs: Accounting For Employee Stock Options

The same issue was repeated in the successive assessments for the years ended March31, to March31, and the aggregate demand is 47, including interest of 13, The appeals filed against the said demand before the Appellate authorities have been allowed in favor of the Company by the second appellate authority for the years up to March31, For the years ended March31, and March31,the appeals are pending before Income Tax Appellate Tribunal Tribunal. For years ended March31, and March31,the Dispute Resolution Panel DRP allowed the claim of the Company under section 10A of the Act.

The Income tax authorities have filed an appeal before the Tribunal. For year ended March31,the Company received the draft assessment order in March with a proposed demand of 4, including interest of 1,arising primarily on account of section 10AA issues with respect to exclusion from Export Turnover.

Company has filed an objection before DRP within the prescribed timelines. The Contingent liability in respect of disputed demands for excise duty, custom duty, sales tax and other matters amounts to 2, and 2, as of March31, andrespectively.

The IT Services segment primarily consists of IT Service offerings to customers organized by industry verticals as follows: Banking, Financial Services and Insurance BFSIHealthcare and Life Sciences HLSRetail, Consumer, Transport and Government RCTGEnergy, Natural Resources and Utilities ENUManufacturing MFGGlobal Media and Telecom GMT.

Key service offering to customers includes software application development and maintenance, research and development services for hardware and software design, business application services, analytics, digital, consulting, infrastructure outsourcing services and business process services. The Company is a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands.

In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to the above items is reported as revenue from the sale of IT Products. 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. The Company has four geographic segments: India, Americas, Europe and Rest of the world.

The Americas refer to North and South America. Revenues from the geographic segments based on domicile of the customer are as follows:. Management believes that it is currently not practicable to provide disclosure of assets by geographical location, as meaningful segregation of the available information is onerous.

For the purpose of segment reporting, the segment revenues are net of excise duty. Excise duty is reported in reconciling items. The differential impact of accelerated amortisation of stock compensation expense over stock compensation expense allocated to the individual operating segments is reported in reconciling items.

These payment terms primarily relate to IT hardware, software and certain transformation services in outsourcing contracts. Corporate treasury provides internal financing to the business units offering multi-year payments terms. The finance income on deferred consideration earned under these contracts is included in the revenue of the respective segment and is eliminated under reconciling items.

Consolidated Financial Statements under IFRS. Independent Auditors' Report Consolidated Statements of Financial Position Consolidated Statements of Income Consolidated Statements of Comprehensive Income Consolidated Statements of Change in Equity Consolidated Statements of Cash Flows Notes to the Consolidated Financial Statements. Consolidated Statements and Other Financial Information Report of Independent Registered Public Accounting Firm The Board of Directors and Equity holders Wipro Limited: Convenience translation into U.

Weighted-average number of equity shares used in computing earnings per equity share:. Adjustments to reconcile profit for the year to net cash generated from operating activities:. Payment for business acquisitions including deposit in escrow, net of cash acquired. Derivative financial instruments; b. Available-for-sale financial assets; c. In particular, information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are included in the following notes: Significant accounting policies i Basis of consolidation Subsidiaries The Company determines the basis of control in line with the requirements of IFRS 10, Consolidated Financial Statements.

Subsequent to initial recognition, non-derivative financial instruments are measured as described below: Available-for-sale financial assets The Company has classified investments in liquid mutual funds, equity securities and certain debt securities primarily certificate of deposits with banks as available-for-sale financial assets. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.

Trade and other payables Trade and other payables are initially recognized at fair value, and subsequently carried at amortized cost using the effective interest method. Subsequent to initial recognition, derivative financial instruments are measured as described below: Cash flow hedges Changes in the fair value of the derivative hedging instrument designated as a cash flow hedge are recognized in other comprehensive income and held in cash flow hedging reserve, net of taxes, a component of equity, to the extent that the hedge is effective.

Hedges of net investment in foreign operations The Company designates derivative financial instruments as hedges of net investments in foreign operations.

Others Changes in fair value of foreign currency derivative instruments neither designated as cash flow hedges nor hedges of net investment in foreign operations are recognized in the statement of income and reported within foreign exchange gains, net within results from operating activities. The estimated useful lives of assets are as follows: Global oil and gas information technology practice of the Commercial Business Services Business Unit of Science Applications International Corporation.

Gross gain recognized directly in equity. Gross loss recognized directly in equity. Gross amountsof recognized financial assets. Gross amounts of recognized financial liabilitiesset off in the balance sheet. Netamounts of financial assets presented in thebalance sheet.

Gross amountsof recognized financial liabilities. Gross amountsof recognized financial assets set off in the balance sheet. Netamounts of financial liabilities presented in the balance sheet. Total cost of revenues, selling and marketing expenses and general and administrative expenses. Wipro Promax Analytics Solutions LLC [Formerly Promax Analytics Solutions Americas LLC].

Wipro Data Centre and Cloud Services, Inc. Wipro Information Technogoty Austria GmbH A Formerly Wipro Holdings Austria GmbH. Wipro Promax Analytics Solutions Europe Limited formerly Promax Analytics Solutions Europe Ltd. Wipro Technologies Australia Pty Ltd formerly Promax Applications Group Pty Ltd. Wipro Information Technogoty AustriaGmbH Formerly Wipro Holdings Austria GmbH.

Weighted-average number of equity shares used in computing earnings per equity share: Net change in fair value of hedges of net investment in foreign operations. Equity attributable totheequity holders of theCompany.

As at April 1, Transaction with owners of the Company, recognized directly in equity. Effect of demerger of diversified business note 1. Adjustments to reconcile profit for the year to net cash generated from operating activities: Trade payables, accrued expenses, other liabilities and provisions.

Payment of deferred consideration in respect of business acquisition. Change in effective portion of hedges of net investment in foreign operations. Income tax expense for continuing operations as per the statement of income.

Total equity attributable to the equity shareholders of the Company. Weighted average number of equity shares for diluted earnings per share. Expected contribution to the fund during the year ending March 31, Estimated benefit payments from the fund for the year ending March Wipro Insurance Solutions LLC Wipro Data Centre and Cloud Services, Inc. Wipro IT Services, Inc.

Wipro Promax Holdings Pty Ltd formerly Promax Holdings Pty Ltd A. Wipro Promax Holdings Pty Ltd formerly Promax Holdings Pty Ltd. Balances as at the year end.