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Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2022

Disclosure Of Financial Instruments [Abstract]

Disclosure of Financial Instruments and Fair Value Measurements Explanatory

The carrying value and fair value of financial instruments by categories as of March 31, 2022 were as follows:

(Dollars in millions)
			Financial assets/ liabilities at fair value through profit or loss				Financial assets/liabilities at fair value through OCI
	Amortised cost		Designated upon initial recognition		Mandatory		Equity instruments designated upon initial recognition		Mandatory		Total carrying value		Total fair value
Assets:
Cash and cash equivalents (Refer to Note 2.1)		2,305		—		—		—		—		2,305		2,305
Investments (Refer to Note 2.2)
Liquid mutual funds		—		—		266		—		—		266		266
Quoted debt securities		280		—		—		—		1,634		1,914	1,957⁽¹⁾
Certificates of deposit		—		—		—		—		452		452		452
Unquoted equity and preference securities		—		—		3		26		—		29		29
Unquoted Compulsorily convertible debentures		—		—		1		—		—		1		1
Unquoted investments others		—		—		19		—		—		19		19
Trade receivables		2,995		—		—		—		—		2,995		2,995
Unbilled revenues (Refer to Note 2.12) ⁽³⁾		838		—		—		—		—		838		838
Prepayments and other assets (Refer to Note 2.4)		526		—		—		—		—		526	514⁽²⁾
Derivative financial instruments		—		—		16		—		3		19		19
Total		6,944		—		305		26		2,089		9,364		9,395
Liabilities:
Trade payables		545		—		—		—		—		545		545
Lease liabilities		722		—		—		—		—		722		722
Derivative financial instruments		—		—		8		—		—		8		8
Financial liability under option arrangements (Refer to Note 2.5)		—		—		86		—		—		86		86
Other liabilities including contingent consideration (Refer to Note 2.5)		1,989		—		16		—		—		2,005		2,005
Total		3,256		—		110		—		—		3,366		3,366

⁽¹⁾	^{On account of fair value changes including interest accrued}

⁽²⁾	^{Excludes interest accrued on quoted debt securities carried at amortized cost of $12 million}

⁽³⁾	^{Excludes unbilled revenue on contracts where the right to consideration is dependent on completion of contractual milestones}

The carrying value and fair value of financial instruments by categories as of March 31, 2021, were as follows:

(Dollars in millions)
			Financial assets/ liabilities at fair value through profit or loss				Financial assets/liabilities at fair value through OCI
	Amortised cost		Designated upon initial recognition		Mandatory		Equity instruments designated upon initial recognition		Mandatory		Total carrying value		Total fair value
Assets:
Cash and cash equivalents (Refer to Note 2.1)		3,380		—		—		—		—		3,380		3,380
Investments (Refer to Note 2.2)
Liquid mutual funds		—		—		205		—		—		205		205
Quoted debt securities		294		—		—		—		1,408		1,702	1,755⁽¹⁾
Unquoted equity and preference securities		—		—		2		23		—		25		25
Unquoted Compulsorily convertible debentures		—		—		1		—		—		1		1
Unquoted investments others		—		—		10		—		—		10		10
Trade receivables		2,639		—		—		—		—		2,639		2,639
Unbilled revenues (Refer to Note 2.12) ⁽³⁾		489		—		—		—		—		489		489
Prepayments and other assets (Refer to Note 2.4)		544		—		—		—		—		544	531⁽²⁾
Derivative financial instruments		—		—		23		—		3		26		26
Total		7,346		—		241		23		1,411		9,021		9,061
Liabilities:
Trade payables		362		—		—		—		—		362		362
Lease liabilities		728		—		—		—		—		728		728
Derivative financial instruments		—		—		8		—		—		8		8
Financial liability under option arrangements (Refer to Note 2.5)		—		—		95		—		—		95		95
Other liabilities including contingent consideration (Refer to Note 2.5)		1,351		—		22		—		—		1,373		1,373
Total		2,441		—		125		—		—		2,566		2,566

⁽¹⁾	^{On account of fair value changes including interest accrued}

⁽²⁾	^{Excludes interest accrued on quoted debt securities carried at amortized cost of $13 million}

⁽³⁾	^{Excludes unbilled revenue on contracts where the right to consideration is dependent on completion of contractual milestones}

Schedule of Fair Value Hierarchy of Assets and Liabilities

Fair value hierarchy of assets and liabilities as of March 31, 2022:

(Dollars in millions)
	As of March 31, 2022		Fair value measurement at end of the reporting year using
			Level 1		Level 2		Level 3
Assets
Investments in liquid mutual fund units (Refer to Note 2.2)		266		266		—		—
Investments in quoted debt securities (Refer to Note 2.2)		1,957		1,721		236		—
Investments in certificates of deposit (Refer to Note 2.2)		452		—		452		—
Investments in unquoted equity and preference securities (Refer to Note 2.2)		29		—		—		29
Investments in unquoted compulsorily convertible debentures (Refer to Note 2.2)		1		—		—		1
Investment in unquoted investments others (Refer to Note 2.2)		19		—		—		19
Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts		19		—		19		—
Liabilities
Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts		8		—		8		—
Financial liability under option arrangements (Refer to Note 2.5)		86		—		—		86
Liability towards contingent consideration (Refer to Note 2.5)*		16		—		—		16

*	Discount rate pertaining to contingent consideration ranges from 8% to 14.5%

Fair value hierarchy of assets and liabilities as of March 31, 2021:

(Dollars in millions)
	As of March 31, 2021		Fair value measurement at end of the reporting period using
			Level 1		Level 2		Level 3
Assets
Investments in liquid mutual fund units (Refer to Note 2.2)		205		205		—		—
Investments in quoted debt securities (Refer to Note 2.2)		1,755		1,556	199			—
Investments in unquoted equity and preference securities (Refer to Note 2.2)		25		—		—		25
Investments in unquoted compulsorily convertible debentures (Refer to Note 2.2)		1		—		—		1
Investment in unquoted investments others (Refer to Note 2.2)		10		—		—		10
Derivative financial instruments- gain on outstanding foreign exchange forward and option contracts		26		—		26		—
Liabilities
Derivative financial instruments- loss on outstanding foreign exchange forward and option contracts		8		—	8			—
Financial liability under option arrangements (Refer to Note 2.5)		95		—		—		95
Liability towards contingent consideration (Refer to Note 2.5)*		22		—		—		22

*	Discount rate pertaining to contingent consideration ranges from 8% to 14.5%

Summary of Income from Financial Assets or Liabilities

Income from financial assets

(Dollars in millions)
	Year ended March 31,
	2022		2021		2020
Interest income on financial assets carried at amortized cost	135		161		181
Interest income on financial assets fair valued through other comprehensive income	86		55		46
Dividend income on investments carried at fair value through profit or loss		—		1		—
Gain / (loss) on investments carried at fair value through profit or loss	24		10		26
Gain / (loss) on investments carried at fair value through other comprehensive income		—		11		6
		245		238	259

Schedule of Analysis of Foreign Currency Risk From Monetary Assets and Liabilities

The following table analyzes foreign currency risk from financial assets and liabilities as of March 31, 2022:

(Dollars in millions)
	U.S. dollars			Euro			United Kingdom Pound Sterling			Australian dollars			Other currencies			Total
Net financial assets		2,404			657			199			178			279			3,717
Net financial liabilities		(1,214	)		(417	)		(88	)		(129	)		(238	)		(2,086	)
Total		1,190			240			111			49			41			1,631

The following table analyzes foreign currency risk from financial assets and liabilities as of March 31, 2021:

(Dollars in millions)
	U.S. dollars			Euro			United Kingdom Pound Sterling			Australian dollars			Other currencies			Total
Net financial assets		2,140			466			181			167			232			3,186
Net financial liabilities		(957	)		(352	)		(85	)		(110	)		(187	)		(1,691	)
Total		1,183			114			96			57			45			1,495

Summary of Outstanding Foreign Forward and Options Contract

The following table gives details in respect of outstanding foreign exchange forward and options contracts:

	As of
	March 31, 2022				March 31, 2021
	In Million		In $ Million		In Million		In $ Million
Derivatives designated as cash flow hedges

Forward contracts
In Euro	8		9			—		—

Option Contracts
In Australian dollars		185		139		92		70
In Euro		280		311		165		194
In United Kingdom Pound Sterling		32		42		35		48
Other derivatives
Forward contracts
In Brazilian Real		6		1		—		—
In Canadian dollars		34		27		33		26
In Chinese Yuan		38		6		105		16
In Czech Koruna		296		14		313		14
In Euro		297		330		171		201
In New Zealand dollars		20		14		16		11
In Norwegian Krone		80		9		25		3
In Philippine Peso		—		—		800		16
In Romanian Leu		—		—		10		2
In Singapore dollars		252		180		241		194
In Swiss Franc		15		17		27		29
In U.S. Dollars		1,166		1,166		1,139		1,139
In United Kingdom Pound Sterling		65		86		28		39
In South African rand		45		3		—		—
Option contracts
In Euro		81		90		65		76
In U.S. Dollars		677		677		404		404
				3,121				2,482

Summary of Derivative Financial Instruments into Relevant Maturity Groupings

The table below analyzes the derivative financial instruments into relevant maturity groupings based on the remaining period as of the balance sheet date:

(Dollars in millions)
	As of
	March 31, 2022		March 31, 2021
Not later than one month		823		842
Later than one month and not later than three months		1,642		1,104
Later than three months and not later than one year		656		536
		3,121		2,482

Summary of Reconciliation of Cash Flow Hedge Reserve

The following table provides the reconciliation of cash flow hedge reserve:

(Dollars in millions)
	Year ended March 31, 2022			Year ended March 31, 2021
Gain / (Loss)
Balance at the beginning of the period		2			(2	)
Gain / (Loss) recognized in other comprehensive income during the period		14			(16	)
Amount reclassified to profit or loss during the period		(15	)		21
Tax impact on above		—			(1	)
Balance at the end of the period		1			2

Summary of Quantitative Information About Offsetting of Derivative Financial Assets And Derivative Financial Liabilities

The following table provides quantitative information about offsetting of derivative financial assets and derivative financial liabilities:

(Dollars in millions)
	As of
	March 31, 2022						March 31, 2021
	Derivative financial asset			Derivative financial liability			Derivative financial asset			Derivative financial liability
Gross amount of recognized financial asset/liability		24			(13	)		28			(10	)
Amount set off		(5	)		5			(2	)		2
Net amount presented in balance sheet		19			(8	)		26			(8	)

Summary of Percentage of Revenues

The following table gives details in respect of percentage of revenues generated from top five customers and top ten customers:

	(In %)
	Year ended March 31,
	2022		2021		2020
Revenue from top five customers	11.4			11.0	11.6
Revenue from top ten customers		19.3		18.1		19.2

The table below presents disaggregated revenues from contracts with customers by geography and offerings for each of our business segments. The Group believes this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors.

Year ended March 31, 2022
													(Dollars in millions)
Particulars	Financial Services⁽¹⁾		Retail⁽²⁾		Communication⁽³⁾		Energy, Utilities, resources and Services		Manufacturing		Hi Tech		Life Sciences⁽⁴⁾		Others⁽⁵⁾		Total
Revenues by Geography*
North America		3,274		1,608		1,136		996		845		1,253		828		126		10,066
Europe		905		639		483		773		884		30		295		30		4,039
India		259		12		42		21		9		55		4		78		480
Rest of the world		780		120		374		152		49		8		15		228		1,726
Total		5,218		2,379		2,035		1,942		1,787		1,346		1,142		462		16,311
Revenue by offerings
Digital		2,735		1,456		1,247		1,128		1,103		780		660		194		9,303
Core		2,483		923		788		814		684		566		482		268		7,008
Total		5,218		2,379		2,035		1,942		1,787		1,346		1,142		462		16,311

Year ended March 31, 2021
													(Dollars in millions)
Particulars	Financial Services⁽¹⁾		Retail⁽²⁾		Communication⁽³⁾		Energy, Utilities, resources and Services		Manufacturing		Hi Tech		Life Sciences⁽⁴⁾		Others⁽⁵⁾		Total
Revenues by Geography*
North America		2,636		1,313		916		935		692		1,086		638		104		8,320
Europe		865		562		390		605		535		22		272		29		3,280
India		212		8		31		5		7		40		2		87		392
Rest of the world		686		108		366		147		41		7		15		199		1,569
Total		4,399		1,991		1,703		1,692		1,275		1,155		927		419		13,561
Revenue by offerings
Digital		2,100		1,040		874		821		617		562		408		155		6,577
Core		2,299		951		829		871		658		593		519		264		6,984
Total		4,399		1,991		1,703		1,692		1,275		1,155		927		419		13,561

Year ended March 31, 2020
													(Dollars in millions)
Particulars	Financial Services⁽¹⁾		Retail⁽²⁾		Communication⁽³⁾		Energy, Utilities, resources and Services		Manufacturing		Hi Tech		Life Sciences⁽⁴⁾		Others⁽⁵⁾		Total
Revenues by Geography*
North America		2,358		1,298		1,033		908		722		920		537		79		7,855
Europe		842		558		271		592		503		27		267		25		3,085
India		184		7		27		2		12		29		6		66		333
Rest of the world		645		113		356		150		48		5		12		178		1,507
Total		4,029		1,976		1,687		1,652		1,285		981		822		348		12,780
Revenue by offerings
Digital		1,626		867		681		631		489		357		260		97		5,008
Core		2,403		1,109		1,006		1,021		796		624		562		251		7,772
Total		4,029		1,976		1,687		1,652		1,285		981		822		348		12,780

⁽¹⁾	Financial Services include enterprises in Financial Services and Insurance

⁽²⁾	Retail includes enterprises in Retail, Consumer Packaged Goods and Logistics

⁽³⁾	Communication includes enterprises in Communication, Telecom OEM and Media

⁽⁴⁾	Life Sciences includes enterprises in Life sciences and Health care

⁽⁵⁾	Others include operating segments of businesses in India, Japan, China, Infosys Public Services & other enterprises in Public Services

*	Geographical revenues are based on the domicile of customer

Summary of Trade Receivables Ageing Schedule

Trade receivables ageing schedule for fiscal 2022 is as follows:

							(Dollars in millions)
			Outstanding for following periods from due date of payment
	Not Due		Less than 6 months		6 months to 1 year		1-2 years		2-3 years		More than 3 years		Total
Trade receivables		2,295		734		31		10		9		4		3,083
Less: Allowance for credit loss														88
Total Trade receivables														2,995

Trade receivables ageing schedule for fiscal 2021 is as follows:

							(Dollars in millions)
			Outstanding for following periods from due date of payment
	Not Due		Less than 6 months		6 months to 1 year		1-2 years		2-3 years		More than 3 years		Total
Trade receivables		2,147		542		18		10		2		5		2,724
Less: Allowance for credit loss														85
Total Trade receivables														2,639

Summary of Credit Risk Exposure

	(Dollars in millions)
	Year ended March 31,
	2022			2021			2020
Balance at the beginning		103			93			91
Translation differences		(1	)		2			(7	)
Impairment loss recognized / (reversed), net		19			25			23
Amounts written off		(8	)		(17	)		(14	)
Balance at the end		113			103			93

Summary of Credit Receivable

The Group’s credit period generally ranges from 30-75 days.

(Dollars in millions)
	As of
	March 31, 2022		March 31, 2021
Trade receivables		2,995		2,639
Unbilled revenues		1,650		1,111

Summary of Contractual Maturities of Significant Financial Liabilities

The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2022:

							(Dollars in millions)
	Less than 1 year		1-2 years		2-4 years		4-7 years		Total
Trade payables		545		—		—		—		545
Financial liability under option arrangements (Refer to Note 2.5)		—		9		11		66		86
Other financial liabilities (excluding liabilities towards contingent consideration) on an undiscounted basis (Refer to Note 2.5)		1,787		144		60		1		1,992
Liability towards contingent consideration on an undiscounted basis (Refer to Note 2.5)	9		3			5		—		17

The table below provides details regarding the contractual maturities of significant financial liabilities as of March 31, 2021:

							(Dollars in millions)
	Less than 1 year		1-2 years		2-4 years		4-7 years		Total
Trade payables		362		—		—		—		362
Financial liability under option arrangements (Refer to Note 2.5)		—		84		11		—		95
Other financial liabilities (excluding liabilities towards contingent consideration) (Refer to Note 2.5)		1,264		56		27		4		1,351
Liability towards contingent consideration on an undiscounted basis (Refer to Note 2.5)	10		10			5		—		25