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Bank borrowings - General (Details)
¥ in Millions, $ in Millions
12 Months Ended
May 31, 2023
Mar. 31, 2024
CNY (¥)
Mar. 31, 2023
CNY (¥)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Bank borrowings          
Current bank borrowings   ¥ 12,749 ¥ 7,466 $ 1,766  
Non-current bank borrowings   55,686 52,023 7,712  
Bank borrowings          
Bank borrowings          
Non-current bank borrowings   55,686 52,023    
Collateral amount pledged   34,056 23,767    
Short-term other borrowings | Bank loans          
Bank borrowings          
Current bank borrowings [1]   12,749 7,466    
US$4.0 billion syndicated loan denominated in US$ | Bank loans          
Bank borrowings          
Non-current bank borrowings [2]   ¥ 28,828 ¥ 27,393    
Principal amount | $       $ 4,000 $ 4,000
US$4.0 billion syndicated loan denominated in US$ | Bank loans | LIBOR          
Bank borrowings          
Spread over variable rate   0.85% 0.85%    
US$4.0 billion syndicated loan denominated in US$ | Bank loans | SOFR          
Bank borrowings          
Spread over variable rate   0.80%      
Long-term other borrowings | Bank loans          
Bank borrowings          
Non-current bank borrowings [3]   ¥ 26,858 ¥ 24,630    
Long-term borrowings | Bank loans          
Bank borrowings          
Weighted average interest rate for the year   3.50% 3.80%    
Short-term borrowings | Bank loans          
Bank borrowings          
Weighted average interest rate for the year   2.60% 2.70%    
Short-term borrowings | Bank loans | Minimum          
Bank borrowings          
Interest rates   1.40% 1.60% 1.40% 1.60%
Short-term borrowings | Bank loans | Maximum          
Bank borrowings          
Interest rates   4.60% 12.50% 4.60% 12.50%
USD6.5 billion revolving credit facility agreement | Bank facility          
Bank borrowings          
Amount of loan facility | $       $ 6,500 $ 6,500
USD6.5 billion revolving credit facility agreement | Bank facility | LIBOR          
Bank borrowings          
Spread over variable rate 0.80%        
USD6.5 billion revolving credit facility agreement | Bank facility | SOFR          
Bank borrowings          
Spread over variable rate 0.80%        
[1] As of March 31, 2023 and 2024, the Company had short-term borrowings from banks which were repayable within one year or on demand and charged interest rates ranging from 1.6% to 12.5% and 1.4% to 4.6% per annum, respectively. As of March 31, 2023 and 2024, the weighted average interest rate of these borrowings was 2.7% and 2.6% per annum, respectively. The borrowings are primarily denominated in RMB.
[2] As of March 31, 2023 and 2024, the Company had a US$4.0 billion syndicated loan, which was initially entered into with a group of eight lead arrangers. The loan was priced at 85 basis points over LIBOR with maturity in May 2024. During the year ended March 31, 2024, the loan terms were modified such that the interest rate of the loan was adjusted to 80 basis points over Secured Overnight Financing Rate (“SOFR”) with a credit adjustment spread and the maturity of the loan was extended to May 2028. Certain related floating interest payments are hedged by certain interest rate swap contracts entered into by the Company. The proceeds of the loan were used for general corporate and working capital purposes (including acquisitions).
[3] As of March 31, 2023 and 2024, the Company had long-term borrowings from banks with weighted average interest rates of 3.8% and 3.5% per annum, respectively. The borrowings are primarily denominated in RMB.