Financials & Filings

Three Year Overview (IFRS) - P & L Ratios

Three Year Overview IFRS (Consolidated INR Basis)

P & L Ratios

ParticularsFY 19FY 18FY 17
Export revenue/ revenue (%)97.596.896.8
Cost of sales/ revenue (%)65.264.063.2
Gross Profit/ revenue (%)34.836.036.8
Selling and marketing, General and administrative expenses/ revenue (%)12.011.712.2
Aggregate employee costs/ revenue (%)54.855.255.0
Operating profit/ revenue (%)22.824.324.7
Other Income / revenue (%)3.54.74.5
Profit before tax (PBT) / revenue (%) 25.528.729.1
Tax / revenue (%) (1)6.96.08.2
Effective tax rate - Tax/PBT (%) (1)26.820.928.1
Profit after tax (PAT) / Revenue (%) (1)18.622.721.0
Return on Capital Employed (ROCE)
(Profit before interest and taxes (PBIT) / Average Capital Employed) (%) (2)(3)
32.430.330.5
Return on average invested capital (%) (4)41.144.843.4

(1)During the quarter ended December 31, 2017, on account of the conclusion of an Advance Pricing Agreement (“APA”) with the U.S. Internal Revenue Service (“IRS”), the Company has, in accordance with the APA, reversed income tax expense provision of ₹1,432 crore which pertains to previous periods which are no longer required. Consequently, profit for the period has increased and therefore has led to an increase in Basic earnings per equity share by ₹6.29 for quarter ended December 31, 2017.

(2)During the year ended March 2018, Kallidus and Skava (together referred to as “Skava”) and Panaya were classified under ‘Held for Sale’, resulting in a reduction in fair value in respect of Panaya amounting to ₹118 crore. During the year ended March 31, 2019, a further reduction of ₹270 crore was recorded in respect of Panaya and on reclassification of Panaya and Skava from ‘Held for Sale’, the Company recognized an adjustment in respect of excess of carrying amount over recoverable amount of ₹451 crore in respect of Skava.

(3)In line with the Capital Allocation Policy announced in April 2018, shareholders approved a buyback of equity shares from the open market route through Indian stock exchanges of up to ₹8,260 crore (maximum buyback size) at a price not exceeding ₹800 per share (maximum buyback price). The buyback shall close within six months from the date of opening of the buyback, i.e March 20, 2019, or such other period as may be permitted under the Act or Buyback Regulations. Accordingly, during the year ended March 31, 2019, 1,26,52,000 equity shares were purchased from the Indian stock exchanges. Subsequent to the year end, the Company has purchased 81,31,000 shares till the date of the Board’s report. During the previous year, 11,30,43,478 (not adjusted for the September 2018 bonus issue) equity shares were bought back by the Company for a total amount of ₹13,000 crore.

(3)During the year ended March 31, 2019, 12,652,000 equity shares were purchased from the stock exchange which includes 1,818,000 shares which have been purchased but not extinguished as of March 31, 2019 and 3,636,000 shares which have been purchased but have not been settled and therefore not extinguished as of March 31, 2019. During the previous year, 11,30,43,478 equity shares were bought back by the Company for a total amount of ₹13,000 crore.

(4)Liquid assets include cash and cash equivalents and investments other than investments in unquoted equity and preference securities, convertible promissory notes and others

Growth Ratios

ParticularsFY 19FY 18FY 17
Export revenue (%)18.13.09.0
Revenue (%)17.23.09.7
Operating profit (%)10.11.58.2
Net profit (%)-3.911.76.4
Basic EPS (%) (1)-0.313.26.4

(1)Adjusted for bonus shares issued during the quarter ended September 30, 2018