Computer including telecom equipment and software included under plant and machinery. Aggregate number of share allotted as fully paid up pursuant to contract s without payment being received in cash.
Allotted to the Wipro Inc Trust, the sole beneficiary of which is Wipro LLC, a wholly owned subsidiary of the Company, in consideration of acquisition of inter-company investments. Adjustment on account of amalgamation refer note Foreign currency translation reserve [refer note 2 x ].
Balances due to related parties[refer note 46 ]. Investments in debentures [refer note 44 ii ]. Raw materials [including goods in transit - Nil Finished goods [including goods in transit - 8 Amortisation in respect of share based compensation to Wipro Enterprises Limited WEL. Net income considered for computing EPS in Million.
Annual Report Glossary Feedback. Notes to the Financial Statement. Home Financial Statements Standalone Financial Statements Notes to the Financial Statement.
Notes to the Financial Statement in millions, except share and per share data, unless otherwise stated 1. Company overview Wipro Limited Wipro or the Companyis a leading India based provider of IT Services, including Business Process Services BPSglobally and IT Products. Wipro is a public limited company incorporated and domiciled in India.
Wipro Annual Report April
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. Significant accounting policies Basis of preparation of financial statements The financial statements are prepared in accordance with Generally Accepted Accounting Principles in India GAAP under the historical cost convention on the accrual basis, except for certain financial instruments which are measured on a fair value basis.
All amounts included in the 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.
Use of estimates The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities and the disclosure of contingent liabilities as at the date of financial statements and reported amounts of income and expenses during the year. Estimates and underlying assumptions are reviewed on an ongoing basis.
Revision to accounting estimates is recognised in the year in which the estimates are revised and in any future year affected. Goodwill The goodwill arising on acquisition of a group of assets is not amortized and is tested for impairment if indicators of impairment exist. Fixed Asset Tangible assets are stated at historical cost less accumulated depreciation and impairment loss, if any. Costs include expenditure directly attributable to the acquisition of the asset.
Borrowing costs directly attributable to the construction or production of qualifying assets are capitalized as part of the cost.
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.
Intangible assets are stated at the consideration paid for acquisition less accumulated amortization and impairment loss, if any. Cost of fixed assets not ready for use before the balance sheet date is disclosed as capital work-in-progress.
Advances paid towards the acquisition of fixed assets outstanding as of each balance sheet date is disclosed under long term loans and advances. Investments Non-current investments are stated at cost less other than temporary diminution in the value of such investments, if any.
Current investments are valued at lower of cost and fair value determined by category of investment. On disposal of the investment, the difference between its carrying amount and net disposal proceeds is charged or credited to the statement of profit and loss.
Inventories Inventories are valued at lower of cost and net realizable value, including necessary provision for obsolescence. Cost is determined using the weighted average method. Cost of work-in-progress and finished goods include material cost and appropriate share of manufacturing overheads. Cost of inventories comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Provisions and contingent liabilities Provisions are recognised when the Company has a present obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate can be made of the amount of obligation.
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources.
Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Provision for onerous contracts is recognized when the expected benefits to be derived from the contract are lower than the unavoidable cost of meeting the future obligations under the contract. The Company recognizes revenue when the significant terms of the arrangement are enforceable, services have been delivered and the collectability is reasonably assured.
The method of recognizing the revenues and costs depends on the nature of the services rendered: Time and material contracts Revenues and costs relating to time and material 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 profit and loss in the period in which such losses become probable based on the current contract estimates. Maintenance Contracts 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 by the customer is recognized as revenue on completion of the term. Revenue from sale of products is recognised when the significant risks and rewards of ownership has been transferred in accordance with the sales contract. Revenue from product sales is shown net of excise duty and net of sales tax separately charged and applicable discounts. Agency commission is accrued when shipment of consignment is dispatched by the principal.
Interest is recognized using the time-proportion method, based on rates implicit in the transaction. Leases Leases of assets, where the Company assumes substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalized at the lower of the fair value of the leased assets at inception and the present value of 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. Lease rentals in respect of assets taken under operating leases are charged to statement of profit and loss 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 interest income and the estimated residual value of the leased equipment on consummation of such leases.
Unearned interest 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 interest income as financing revenue over the lease term using the effective interest method.
Foreign currency transactions The Company is exposed to currency fluctuations on foreign currency transactions. Foreign currency transactions are accounted in the books of account at the exchange rates prevailing on the date of transaction. The difference between the rate at which foreign currency transactions are accounted and the rate at which they are realized is recognized in the statement of profit and loss.
Monetary foreign currency assets and liabilities at period-end are translated at the exchange rate prevailing at the date of Balance Sheet. The difference arising from the translation is recognised in the statement of profit and loss, except for the exchange difference arising on monetary items that qualify as hedging instruments in a cash flow hedge or hedge of a net investment in a non-integral foreign operation.
In such cases the exchange difference is initially recognised in hedging reserve or Foreign Currency Translation Reserve FCTRrespectively. Such exchange differences are subsequently recognised in the statement of profit and loss on occurrence of the underlying hedged transaction or on disposal of the investment, respectively. Further, 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.
When a foreign operation is disposed of, the relevant amount recognized in FCTR is transferred to the statement of profit and loss as part of the profit or loss on disposal. The amendment is applicable retroactively from the financial year beginning on or after December 7, The Company did not elect to exercise this option. Financial Instruments Financial instruments are recognised when the Company becomes a party to the contractual provisions of the instrument.
XE Currency Converter - Live Rates
Derivative instruments and Hedge accounting: The Company is exposed to foreign currency fluctuations on foreign currency assets, liabilities, net investment in a non-integral foreign operation and forecasted cash flows denominated in foreign currency.
The Company limits the effects 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. Exchange differences on such contracts are recognised in the statement of profit and loss of the reporting period in which the exchange rates change.
The Company has adopted the principles of Accounting Standard 30, Financial Instruments: Recognition and Measurement AS 30 issued by ICAI except to the extent the adoption of AS 30 does not conflict with existing accounting standards prescribed by Companies Accounts Rules, and other authoritative pronouncements.
Changes in the fair value relating to the ineffective portion of the hedges and derivative instruments that do not qualify for hedge accounting are recognised in the statement of profit and loss. The fair value of derivative financial instruments is determined based on observable market inputs including currency spot and forward rates, yield curves, currency volatility etc.
Depreciation and amortization The Company has provided for depreciation using straight line method over the useful life of the assets as prescribed under part C of Schedule II of the Companies Act, except in the case of following assets which are depreciated based on useful lives estimated by the Management: Class of asset Estimated useful life Buildings 28 — 40 years Computer including telecom equipment and software included under plant and machinery 2 — 7 years Furniture and fixtures 5 — 6 years Electrical installations included under plant and machinery 5 years Vehicles 4 years For the class of assets mentioned above, based on internal technical assessment the management believes that the useful lives as given above best represent the period over which management expects to use these assets.
Hence the useful lives for these assets are different from the useful lives as prescribed under Part C of Schedule II of the Companies Act, Freehold land is not depreciated. Intangible assets are amortized over their estimated useful life on a straight line basis. Payments for leasehold land are amortised over the period of lease. Assets under finance lease are amortised over their estimated useful life or the lease term, whichever is lower.
Impairment of assets Financial assets: The Company assesses at each balance sheet date whether there is any objective evidence that a financial asset or group of financial assets is impaired.
If any such indication exists, the Company estimates the amount of impairment loss. The amount of loss for receivables is measured as the difference between the assets carrying amount and undiscounted amount of future cash flows. Reduction, if any, is recognised in the statement of profit and loss. If at the balance sheet date there is any indication that a previously assessed impairment loss no longer exists, the recognised impairment loss is reversed, subject to maximum of initial carrying amount of the short-term receivable.
Other than financial assets: The Company assesses at each balance sheet date whether there is any indication that a non-financial asset including goodwill may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs to 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 recognised in the statement of profit and loss. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciated historical cost.
In respect of goodwill, the impairment loss will be reversed only when it was caused by specific external events of an exceptional nature that is not expected to recur and their effects have been reversed by subsequent external events.
Employee benefits Provident fund: Employees receive benefits from a provident fund. The employee and employer each make monthly contributions to the plan. A portion of the contribution is made to the provident fund trust managed by the Company, while the remainder of the contribution is made to the Government administered pension fund. The Company is generally liable for any shortfall in the fund assets based on the government specified minimum rate of return.
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 compensated absences based on actuarial valuation carried out by independent actuary using the projected unit credit method.
Non-accumulating compensated absences are recognized in the period in which the absences occur. The Company recognizes actuarial gains and losses immediately in the statement of profit and loss account. In accordance with the Payment of Gratuity Act,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 life and Birla Sun-life. The Company recognizes actuarial gains and losses immediately in the statement of profit and loss. Superannuation plan, a defined contribution scheme, is administered by the LIC and ICICI Prudential Life Insurance Company Limited.
Employee stock options The Company determines the compensation cost based on the intrinsic value method. The compensation cost is amortised on a straight line basis over the vesting period. The current charge for income taxes is calculated in accordance with the relevant tax regulations. Tax liability for domestic taxes has been computed under Minimum Alternate Tax MAT.
MAT credit are being recognized if there is convincing evidence that the Company will pay normal tax after the tax holiday period and the resultant asset can be measured reliably.
The excess tax paid under MAT provisions being over and above regular tax liability can be carried forward for a period of ten years from the year of recognition and is available for set off against future tax liabilities computed under regular tax provisions, to the extent of MAT liability. Deferred tax assets and liabilities are recognised for the future tax consequences attributable to timing differences that result between the profit offered for income taxes and the profit as per the financial statements of the Company.
Deferred taxes are recognised in respect of timing differences which originate during the tax holiday period but reverse after the tax holiday period. For this purpose, reversal of timing difference is determined using first in first out method. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the foreign exchange forex translation of foreign currency rental expenses sheet date. Deferred tax assets on timing differences are recognised only if there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.
However, deferred tax assets on the timing differences when unabsorbed depreciation and losses carried forward exist, are recognised only to the extent that there is virtual certainty that sufficient future taxable income will be available against bulls & bears in stock market such deferred tax assets can be realized.
Deferred tax assets are reassessed for the appropriateness of their respective carrying amounts at each balance sheet date. The Company offsets, on a year on year basis, the current and non-current tax assets and liabilities, where it has a legally enforceable right and where it intends to settle such assets and liabilities on a net basis. Earnings per share Basic: The number of equity shares used in computing basic earnings per share is the weighted average number of shares outstanding during the year excluding equity shares held by controlled trusts.
The number of equity shares used in computing diluted earnings per share comprises the weighted average number of equity shares considered for deriving basic earnings per share, and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares.
Dilutive potential equity shares are deemed converted as of the beginning of the period, unless issued at a later date. The number of equity shares and potentially dilutive equity shares are adjusted for any stock splits and bonus shares issued. Cash flow statement Cash flows are reported using the indirect method, whereby net profits before tax is adjusted for the effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments.
The cash flows from regular revenue generating, investing and financing activities of the Company are segregated. Share capital As at March 31, Authorised Capital 2,, Each holder of equity shares is entitled to one vote per share.
The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to shareholders approval in the ensuing Annual General Meeting.
Following is the summary of per share dividends recognised as distributions to equity share holders: Year ended March 31, Interim Dividend 5 3 Final Dividend 7 5 In the event of liquidation of the Company, the equity share holders will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts, if any, in proportion to the number of equity shares held by the shareholders. Azim Hasham Premji Partner representing Hasham Traders , Azim Hasham Premji Partner representing Prazim Traders , Azim Hasham Premji Partner representing Zash Traders , Share application money pending allotment Share application money pending allotment represents monies received against shares to be issued under the employee stock option plan formulated by the Company as at the year end.
The Company has sufficient authorized equity share capital to cover the share capital amount arising from allotment of shares pending allotment as at March 31, and and there are no interest accrued and due on amount due for refund as at March 31, and Long term borrowings As at March 31, Secured: Obligation under finance lease a 1, 1, 1, 1, Unsecured: External commercial borrowing b 9, 8, Others c 16 9, 9, 10, 10, a Obligation under finance lease is secured by underlying fixed assets.
These obligations are repayable in monthly installments up to year ending March 31, The interest rate for these obligations ranges from 1. Pursuant to this arrangement, the Company has availed ECB of USD million repayable in full in June The ECB is an unsecured borrowing and the Company is subject to certain customary restrictions on additional borrowings and quantum of payments for acquisitions in a financial year. As at March 31, andthe Company has complied with all the covenants under the loan arrangements.
Other long term liabilities As at March 31, Derivative liabilities 71 Others - 8. Long term provisions As at March 31, Employee benefit obligations 2, 2, Warranty provision [refer note 40 ] 5 6 2, 2, Employee benefit obligations include provision for gratuity, other retirement benefits and compensated absences.
Short term borrowings As at March 31, Unsecured: Loan repayable on demand from banks a 49, 35, Cash credit b - 49, 35, a Rate of Interest for PCFC loan ranges from 0. Trade payables As at March 31Trade payables 37, 36, Accrued expenses 20, 17, 57, 53, Other current liabilities As at March 31, Current maturities of long-term borrowings a Current maturities of obligation under finance lease a Unearned revenue 14, 11, Statutory liabilities 3, 3, Derivative liabilities 3, 4, Capital creditors Advances from customers 1, 2, Unclaimed dividends 25 27 Interest accrued but not due on borrowings Balances due to related buyback of shares ppt note 46 ] 25, 24, a For rate of interest and other terms and conditions, refer note 6 Short term provisions As at March 31, Employee benefit obligations 4, 4, Provision for tax 14, 15, Proposed dividend 17, 12, Tax on proposed dividend 3, 2, No deposit welcome bonus binary options provision [refer note 40 ] Provisions-others taxes [refer note 40 ] 1, 1, Others 41, 36, Employee benefit obligations include other retirement benefits and compensated absences Other non-current assets As at March 31, Secured, considered good: Finance lease receivables 2, 5, 2, 5, Unsecured, considered good: Derivative assets 3, 5, Finance lease receivables are secured by the underlying assets given on lease.
The remaining maturity of such outstanding future contracts does not exceed 12 months from the reporting date. Inventories At lower of cost and net realizable value As at March 31, Raw materials [including goods in transit - Nil Trade Receivables As at March 31, Unsecured: Over six months from the date they were due for payment Considered good 8, 14, Considered doubtful 4, 3, 13, 18, Less: Provision for doubtful receivables 4, 3, 8, 14, Other receivables Considered good 72, 70, Considered doubtful 72, 71, Less: Provision for doubtful receivables 72, 70, 81, 85, Short term loans and advances Unsecured, considered good unless otherwise stated As at March 31, Employee travel and other advances 3, 2, Psec prolific health option and trading incorporation to suppliers 1, 1, Balance with excise, customs and other authorities 1, Prepaid expenses 6, 4, Other deposits Security deposits 1, 1, Interest bearing deposits 30, 12, Deferred contract costs 3, 3, Others 3, 2, Others, considered doubtful 53, 30, Less: Provision for doubtful loans and advances 52, 29, Other current assets As at March 31, Secured and considered good: Finance lease receivables australian binary options brokers in united states, 2, 3, 2, Unsecured and considered good: Derivative assets 7, 5, Interest receivable 7, 4, Unbilled revenue 33, 32, 48, 42, 51, 45, Finance lease receivables are secured by the underlying assets given on lease.
Excise duty 2 79 27, 32, B Details of revenue from services rendered Year ended March 31, Software servicesmake money with meghan warrior forum, IT enabled services 27, 25, Others 1, Other income Year ended March 31, Income from current investments - Dividend on mutual fund units - Profit on sale of investments, net 3, 1, Interest income from banks and others 15, 12, Other exchange differences, net 4, 1, Miscellaneous income 24, 16, Cost of materials consumed Year ended March 31, Opening stock 36 Add: Purchases - 1, Less: Closing stock 2 36 34 2, A Details of materials consumed Year ended March 31, Singapore forex trading tax, processors and hard disks 7 1, Monitors and cabinets 8 Operating systems 5 Motherboards and power supplies 4 Peripherals and add-on 8 Others 2 7 Less: Internal capitalization - 34 2, Changes in inventories of finished goods, work in progress and Stock-in-trade Year ended March 31, Opening stock Work in progress 16 43 Traded goods 1, 1, Finished products 65 1, 1, Less: Employee benefits expense Year ended March 31, Salaries and wages, Contribution to provident and other funds 3, 3, Share based compensation 1, Staff welfare expenses 4, 3, Finance costs Year ended March 31, Interest Exchange fluctuations on foreign currency borrowings, net to the extent regarded as borrowing cost 3, 3, 3, 3, Corporate Social Responsibility a Gross amount required to be spent by the Company during the year is 1, Capital commitments The estimated amount of contracts remaining to be forex trading company in dubai on Capital account and not provided for, net of advances is Contingent Liabilities, to the extent not provided for Contingent liabilities in respect of: The consequence of not meeting this commitment in the future would be a retroactive levy of import duties on certain hardware previously imported duty free.
As at March 31,the Company has met all commitments required under the plan. The same issue was repeated in the successive assessments for the years ended March 31, to March 31, and the aggregate demand is 46, 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 March 31, For the year ended March 31,Marchthe appeals are pending before Income Tax Appellate Tribunal Tribunal.
For year ended March 31,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 March 31,the Company received the draft assessment order foreign exchange forex translation of foreign currency rental expenses Marchon similar grounds as that of earlier years, with a demand of 7, including interest of 2, for the financial year ended March 31, The Company is subject to legal proceedings and claims which have arisen in the ordinary course of its business.
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.
Adoption of AS 30 The Company has applied the principles of AS 30, Financial Instruments: The Company has designated USD Million USD MillionEuro Nil Euro 25 Million of forward contracts as hedges of its net investment in non- integral foreign operation and has also designated a dollar-denominated foreign currency borrowing amounting to USD Million USD Million as a hedging instrument to hedge net investment in non-integral foreign operations.
Derivatives As at March 31, the Company has recognised gain of 4, million Finance lease receivables The Company provides lease financing for the traded and manufactured products primarily through finance leases. The finance lease portfolio contains only the normal collection risk with no important uncertainties with respect to future costs. These receivables are generally due in monthly or quarterly installments over periods ranging from 1 to 7 years.
The components of finance lease receivables are as follows: As at March 31, Gross investment in lease Not later than one year 3, 3, Later than one year and not later than five years 2, 5, Later than five years 73 Unguaranteed residual values 62 90 6, 8, Unearned finance income Net investment in finance receivables 5, 8, Present value of minimum lease receivables are as follows: As at March 31, Present value of minimum lease payments receivables 5, 8, Not later than one year 3, 2, Later than one year and not later than five years 2, 4, Later than five years 57 93 Unguaranteed residual value 58 83 Assets taken on lease Finance leases: The following is a schedule of present value of future minimum lease payments under finance leases, together with the value of the minimum lease payments as at March 31, As at March 31, Present value of minimum lease payments Not later than one year Later than one year and not later than five years 1, 1, Total present value of minimum lease payments 1, 1, Add: Amount representing interest Total value of minimum lease payments 1, 1, Operating leases: Rental payments under such leases are 2, and 3, during the years ended March 31, andrespectively.
Details of contractual payments under non-cancelable leases are given below: As at March 31, Not later than one year 1, 1, Later than one year and not later than five years 2, 2, Later than five years 1, Total 5, 5, Employee benefit plans Gratuity: In accordance with applicable Indian laws, the Company provides for gratuity, a defined benefit retirement plan Gratuity Plan covering certain categories of employees. Under this plan, the settlement obligation remains with the Company, although the Insurer administers the plan and determines the contribution premium required to be paid by the Company.
Change in the benefit obligation As at March 31, Projected Benefit Obligation PBO at the beginning of the year 3, 3, Addition on account of amalgamation - 37 Current service cost Interest on obligation Benefits paid Actuarial loss Projected Benefit Obligation PBO at the end of the year 4, 3, Change in plan assets As at March 31, Fair value of plan assets at the beginning of the year 3, 3, Addition on account of amalgamation - 54 Expected return on plan assets Employer contributions 1, Benefits paid Actuarial gain 18 Fair value of plan assets at the end of the year 4, 3, Present value of unfunded obligation 38 Recognized liability 38 The Company has invested the plan assets in the insurer managed funds.
The expected rate of return on plan asset is based on expectation of the average long term rate of return expected on investments of the fund during the estimated term of the obligation. Expected contribution to the fund for the year ending March 31, is Net gratuity cost for the year ended March 31, and are as follows: Year ended March 31, Current service cost Interest on obligation Expected return on plan assets Actuarial loss 74 Net gratuity cost The weighted average actuarial assumptions used to determine benefit obligations and net periodic gratuity cost are: Assumptions As at March 31, Discount rate 7.
As at March 31, Experience adjustments: The estimates of future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employment market. Apart from being covered under the gratuity plan, the employees of the Company also participate in a defined contribution plan maintained by the Company.
This plan is administered by the Life Insurance Corporation of India and ICICI Prudential Insurance Company Limited. For the year ended March 31,the Company has contributed net to superannuation fund [ In addition to the above, all employees receive benefits from a provident fund. A portion of the contribution is made to the provident fund trust established by the Company, while the remainder of the contribution is made to the Government administered pension fund.
The interest rate payable by the trust to the beneficiaries is regulated by the statutory authorities. The Company has an obligation to make good the shortfall, if any, between the returns from its investments and the administered rate. The details of fund and plan assets are given below: These options generally vest over a period of three to five 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 generally 10 years. The stock compensation cost is computed under the intrinsic value method and amortised on a straight line basis over the total vesting period of five years. The intrinsic value on the date of grant approximates the fair value. For the year ended March 31,the Company has recorded stock compensation expense of 1, The compensation committee of the board evaluates the performance and other criteria of employees and approves the grant of options.
These options vest with employees over a specified period subject to fulfillment of certain conditions. The particulars of options granted under various plans are tabulated below. The number of shares in the table below is adjusted for any stock splits and bonus shares issues. Wipro Employee Stock Option Plans and Restricted Stock Unit Option Plans A summary of the general terms of grants under stock option plans and restricted stock unit option plans are as follows: As at March 31, Range of Exercise Prices Number Weighted Average Exercise Price Number Weighted Average Exercise Price Outstanding at the beginning of the period 1 — 33, The following table summarizes information about outstanding stock options: Range of Exercise price Numbers Weighted Average Remaining Life Months Weighted Average Exercise Price Numbers Weighted Average Remaining Life Months Weighted Average Exercise Price — 20, 24 The weighted average share price of options exercised during the year ended March 31, was The movement in Restricted Stock Unit reserve is summarized below: Year ended March 31, Opening balance Less: Amount transferred to share premium Add: This expense has been debited to respective subsidiaries.
Provisions Provision for warranty represent 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 from the balance sheet date.
Other provisions primarily include provisions for tax related contingencies and litigations. The timing of cash outflows in respect of such provision cannot be reasonably determined. The activity in the provision balance is summarized below: Earnings per share The computation of equity shares used in calculating basic and diluted earnings per share is set out below: Year ended March 31, Weighted average equity shares outstanding 2,, 2,, Share held by controlled trusts 16, 16, Weighted average equity shares for computing basic EPS 2,, 2,, Dilutive impact of employee stock options 7, 6, Weighted average equity shares for computing diluted EPS 2,, 2,, Net income considered for computing EPS in Million 81, 73, As at March 31, 22 Million is outstanding to Micro and Small Enterprises Includes 1 Million of interest due and outstanding on the same This information has been determined to the extent such parties have been identified on the basis of information available with the Company.
Details of Non-current investment i Investments in unquoted equity instruments fully paid up of Subsidiaries [Trade] Name of the subsidiary No. Hence the investment by the Company is considered as equity contribution. Note 2- As per the local laws of Japan, there is no concept of Face value of Shares. The Scheme became effective on April 9, with appointed date of April 1, when the sanction of the Honorable High Court of Karnataka and filing of the certified copy of the same with the Registrar of Companies.
Since the subsidiaries amalgamated were wholly owned subsidiaries of the Company, there was no exchange of shares to effect the amalgamation. The difference between the amounts recorded as investments of the Company and the amount of share capital of the aforesaid amalgamating subsidiaries have been adjusted in the reserves. Related party relationships and transactions List of subsidiaries as at March 31, are provided in the table below.
Subsidiaries Subsidiaries Subsidiaries Country of Incorporation Wipro LLC Formerly Wipro Inc. For and on behalf of the Board of Directors. M K Sharma Director M Sanaulla Khan Company Secretary. Issued, subscribed and fully paid-up capital. Aggregate number of share allotted as fully paid up pursuant to contract s without payment being received in cash Allotted to the Wipro Inc Trust, the sole beneficiary of which is Wipro LLC, a wholly owned subsidiary of the Company, in consideration of acquisition of inter-company investments.
Compensation cost related to Employee share based payment transaction. Amount transferred from surplus balance in the statement of profit and loss.
Translation (conversion) rules | Australian Taxation Office
Surplus from statement of profit and loss. Warranty provision [refer note 40 ]. Current maturities of obligation under finance lease a. Provisions-others taxes [refer note 40 ].
Addition on account of Amalgamation refer note Adjustment on account of Amalgamation refer note Investments in unquoted equity instruments. Investments in unquoted preference shares.
Investment in unquoted equity instruments. Aggregate book value of quoted investments current and non-current. Aggregate book value of unquoted investments current and non-current. Over six months from the date they were due for payment. Other Deposits with banks.
Deposit accounts with more than 3 months but less than 12 months maturity.
Monetary or Non-Monetary? - IFRSbox
Exchange fluctuations on foreign currency borrowings, net to the extent regarded as borrowing cost. Provision Reversal for diminution in the value of non-current investments. Disputed demands for excise duty, customs duty, sales tax and other matters. Performance and financial guarantees given by the banks on behalf of the Company. Non designated derivative Instruments.
Wipro Gallagher Solutions Inc Infocrossing Inc. Wipro Promax Analytics Solutions LLC Formerly Promax Analytics Solutions Americas LLC Wipro Insurance Solutions LLC. Opus Capital Markets Consultants LLC. USA USA USA USA USA USA.
Wipro Information Technologies Austria GmbH A Formerly Wipro Holdings Austria GmbH A 3D Networks U. Limited Wipro Europe Limited A Wipro Promax Analytics Solutions Europe Limited formerly Promax Analytics Solutions Europe Ltd. Wipro Doha LLC Wipro Technologies S. V Wipro BPO Philippines LTD. Wipro Technologies Nigeria Limited Wipro Portugal S. A Wipro Technologies Limited, Russia Wipro Technology Chile SPA Wipro Technologies Canada Limited A Wipro Information Technology Kazakhstan LLP Wipro Technologies W.
Sociedad Anonima Wipro Outsourcing Services Ireland Limited Wipro IT Services Ukraine LLC Wipro Technologies Norway AS Wipro Technologies VZ, C. Wipro Technologies Peru S. C Wipro Promax Holdings Pty Ltd Formerly Promax Holdings Pty Ltd A. Cyprus Qatar Mexico Philippines Hungary Argentina Egypt Saudi Arabia Poland Poland Australia Ghana South Africa Nigeria Netherland Portugal Russia Chile Canada Kazakhstan Costa Rica Ireland Ukraine Norway Venezuela Peru Romania Indonesia Australia Australia.
Wipro Thailand Co Limited Wipro Bahrain Limited WLL Wipro Gulf LLC Wipro Technologies Spain S. Thailand Bahrain Sultanate of Oman Spain. Wipro Networks Pte Limited Formerly 3D Networks Pte Limited. Wipro Technologies SDN BHD. Wipro Information Technologies Austria GmbH Formerly Wipro Holdings Austria GmbH. Wipro Technologies Austria GmbH New Logic Technologies SARL. Wipro Europe Limited Formerly SAIC Europe Limited. Wipro UK Limited Wipro Europe SARL.
SAS Wipro France Wipro Retail UK Limited Wipro do Brasil Technologia Ltda Wipro Technologies Gmbh Wipro Do Brasil Sistemetas De Informatica Ltd. Wipro Promax Holdings Pty Ltd Formerly Promax Holdings Pty Ltd. Wipro Promax IP Pty Ltd Formerly PAG IP Pty Ltd. Wipro solutions Canada limited Formerly ATCO I-Tek Inc.
Wipro Equity Reward Trust Wipro Inc Benefit Trust Azim Premji Foundation I Pvt. Trust Trust Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director Entity controlled by Director.
Fully controlled trust Fully controlled trust. Key management personnel Azim H Premji Suresh C Senapaty T K Kurien Rishad Azim Premji Jatin Pravinchandra Dalal.
Chairman and Managing Director Chief Financial Officer and Executive Director 1 Chief Executive Officer and Executive Director Chief Strategy Officer and Executive Director 2 Chief Financial Officer 3. Repayment of loans and advance given Balances as at the year end. Remuneration paid to key management personnel. Repayment of loans and advances given. Net amount remitted in Million.