IDFC ASSET MANAGEMENT COMPANY LIMITED - IDFC Mutual Fund

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Notes to financial statements FOR THE YEAR ENDED MARCH 31, 2013 16 Current investments AS AT MARCH 31, 2013 AS AT MARCH 31, 2012 QUANTITY (`) QUANTITY (`) INVESTMENT IN MUTUAL FUNDS (UNQUOTED) IDFC Money Manager Fund - Treasury Plan C - Growth 106,171 1,353,723 12,341,175 157,040,224 IDFC Dynamic Bond Fund - Growth - (Regular Plan) 23,164,171 299,914,946 4,098,293 50,000,000 IDFC Super Saver Income Fund - Medium Term Plan B - Growth 4,838,615 55,137,949 4,838,615 55,137,949 IDFC Dynamic Bond Fund - Growth - (Direct Plan) 13,305,186 185,000,000 - - IDFC Ultra Short Term Fund - Growth - (Direct Plan) 3,705,119 60,313,039 - - 601,719,657 262,178,173 Aggregate amount of investments in unquoted mutual funds Cost 601,719,657 262,178,173 Market value (Net asset value) 637,879,101 264,514,914 Market value of investments in unquoted mutual funds represents the repurchase price of the units issued by the mutual funds. INVESTMENT IN MUTUAL FUNDS (QUOTED) IDFC Fixed Term Plan Series 9 Direct Plan - Growth 3,000,000 30,000,000 - - IDFC Fixed Maturity Plan 366 Days Series 82 - Growth 10,000,000 100,000,000 - - 130,000,000 - Aggregate amount of investments in quoted mutual funds Cost 130,000,000 - Market value (Net asset value) 132,731,900 - TOTAL CURRENT INVESTMENTS 731,719,657 262,178,173 17 Trade receivables (unsecured, considered good) NON-CURRENT PORTION AS AT MARCH 31, 2013 AS AT MARCH 31, 2012 CURRENT MATURITIES NON-CURRENT PORTION CURRENT MATURITIES (`) (`) (`) (`) Outstanding for a period less than six months - 62,858,097 - 21,920,692 - 62,858,097 - 21,920,692 18 Cash and bank balances CASH AND CASH EQUIVALENTS NON-CURRENT PORTION AS AT MARCH 31, 2013 AS AT MARCH 31, 2012 CURRENT MATURITIES NON-CURRENT PORTION CURRENT MATURITIES (`) (`) (`) (`) Balances with banks: In current accounts - 31,838,753 - 21,753,567 31,838,753 21,753,567 OTHER BANK BALANCES Fixed deposits with original maturity for more than 12 months 1,050,000 - - 1,050,000 1,050,000 - - 1,050,000 Amount disclosed under non current assets (1,050,000) - - - - 31,838,753 - 22,803,567 IDFC ASSET MANAGEMENT COMPANY LIMITED | 285
Notes to financial statements FOR THE YEAR ENDED MARCH 31, 2013 19 Revenue from operations YEAR ENDED MARCH 31, 2013 ` YEAR ENDED MARCH 31, 2012 ` Management fees 1,596,643,521 1,100,023,010 (Net of service tax `197,356,010/- ; Previous year `113,293,375/-) 1,596,643,521 1,100,023,010 20 Other income YEAR ENDED MARCH 31, 2013 ` YEAR ENDED MARCH 31, 2012 ` Interest on income tax refund 16,486,196 6,561,958 Other interest 89,000 90,423 Dividend income 5,494,234 8,061,499 Net gain/loss on sale of current investments 2,341,206 6,305,457 Miscellaneous income 152,852 200,176 Provision written back (refer note (a) below) 15,915,000 - 40,478,488 21,219,513 (a) Property tax provided for corporate office upto March 2012 has been written back as the liability is extinguised as per the new terms of the lease. 21 Employee benefits expense YEAR ENDED MARCH 31, 2013 ` YEAR ENDED MARCH 31, 2012 ` Salaries and bonus 419,983,344 385,470,683 Contribution to provident and other funds 12,758,995 11,845,082 Gratuity 11,568,967 10,553,957 Expense under the ESOS 458,441 5,222,944 Staff welfare expenses 18,158,927 22,131,666 462,928,674 435,224,332 (a) Expense under the ESOS is paid to IDFC Limited towards ESOS grants given to the employees of the Company by the parent company under the IDFC ESOS scheme. The parent company follows the intrinsic method for computing the compensation cost, for options granted under the scheme. The difference if any, between the intrinsic value and the grant price, being the compensation cost is amortised over the vesting period of the options. (b) Salaries and bonus includes shortfall of bonus provision for year ended March 31, 2012 of ` 11,943,000/- on account of change in estimate in provision of bonus. 22 Other expenses YEAR ENDED MARCH 31, 2013 ` YEAR ENDED MARCH 31, 2012 ` Rent 91,168,502 121,899,446 Rates & taxes 1,727,286 7,228,873 Electricity 11,825,344 10,782,667 Repairs and maintenance Buildings 959 119,338 Equipments 2,537,387 1,845,659 Others 23,351,203 21,389,822 286 | IDFC ANNUAL REPORT 2012–2013
Page 1 and 2: IDFC ASSET MANAGEMENT COMPANY LIMIT
Page 3 and 4: Directors' Report As required under
Page 5 and 6: Compliance Certificate (UNDER SUB-S
Page 7 and 8: Annexure - A Registers as maintaine
Page 9 and 10: Annexure to the Auditors’ Report
Page 11 and 12: Balance Sheet AS AT MARCH 31, 2013
Page 13 and 14: Cash Flow Statement FOR THE YEAR EN
Page 15 and 16: Notes to financial statements FOR T
Page 19: Notes to financial statements FOR T
Page 27: Statement Pursuant to Section 212 O

IDFC ASSET MANAGEMENT COMPANY LIMITED - IDFC Mutual Fund

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