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AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS To The Board of Directors VIDEOCON INDUSTRIES LIMITED We have audited the attached consolidated Balance Sheet of Videocon Industries Limited (the Company) and its subsidiaries as at 30th September 2008 and the Consolidated Profit and Loss Account and the Consolidated Cash Flow Statement for the year ended on that date annexed thereto. These consolidated financial statements are the responsibility of the Company’s management and have been prepared by them on the basis of separate financial statements and other financial information regarding components. Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards in India. These Standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting frame work and are free of material misstatements. An audit includes, examining on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statements presentation. We believe that our audit provides a reasonable basis for our opinion. We did not jointly audit the financial statements of the Subsidiaries, whose financial statements reflect total assets of Rs. 80,468.19 million as at 30th September 2008, total revenues of Rs. 46,366.49 million and cash flows amounting Rs. 2,001.49 million for the year ended on that date. These financial statements have been audited by either of us singly or by other auditors whose reports have been furnished to us and our opinion, in so far as it relates to the amounts included in respect of these entities, is based solely on the reports of those respective auditors. We report that the consolidated financial statements have been prepared by the Company in accordance with the requirements of the Accounting Standard (AS) 21 on “Consolidated Financial Statements”, Accounting Standard (AS) 23 on “Accounting for Investments in Associates ” and Accounting Standard (AS) 27 “Financial Reporting of Interest in Joint Ventures” issued by the Institute of Chartered Accountants of India and on the basis of the separate audited financial statements of the Company, and its subsidiaries included in Consolidated Financial Statements. On the basis of the information and explanations given to us and on the consideration of the separate audit report on individual audited financial statements of the Company, its Joint Ventures and its subsidiaries, we are of the opinion that the attached consolidated financial statements, read with the notes and the significant accounting policies thereon, give a true and fair view in conformity with the accounting principles generally accepted in India: a. in the case of the Consolidated Balance Sheet, of the state of affairs of the Company and its subsidiaries as at 30th September 2008; b. in the case of the Consolidated Profit and Loss Account, of the consolidated results of operations of the Company and its subsidiaries for the year ended on that date; and c. in the case of the Consolidated Cash Flow Statement, of the consolidated cash flows of the company and its subsidiaries for the year ended on that date. For KHANDELWAL JAIN & CO. Chartered Accountants For KADAM & CO. Chartered Accountants SHIVRATAN AGARWAL U.S.KADAM Partner Partner Membership No.: 104180 Membership No.: 31055 Place : Mumbai Date : February 26, 2009. 42
Particulars CONSOLIDATED BALANCE SHEET AS AT 30TH SEPTEMBER, 2008 43 Schedule No. As at 30th Sept., 2008 (Rupees in Million) As at 30th Sept., 2007 (Rupees in Million) I. SOURCES OF FUNDS 1. Share Holders’ Funds a. Share Capital 1 2,753.11 2,669.54 b. Reserves & Surplus 2 66,004.40 51,187.97 c. Capital Reserve on Consolidation - 15,486.57 2. Minority Interest 540.00 296.73 3. Share Application Money Pending Allotment 8,022.49 2,081.46 4. Deferred Tax Liability ( Net ) 4,237.77 2,579.13 5. Loan Funds a. Secured Loans 3 77,014.12 45,090.45 b. Unsecured Loans 4 36,378.09 24,437.05 TOTAL 194,949.98 143,828.90 II. APPLICATION OF FUNDS 1. Fixed Assets 5 a. Gross Block 134,177.28 132,839.90 b. Less : Depreciation / Amortisation / Impairment 43,328.48 57,698.19 c. Net Block 90,848.80 75,141.71 2. Investments 6 24,528.42 6,525.13 3. Goodwill on Consolidation 103.79 - 4. Current Assets, Loans and Advances 7 a. Inventories 16,048.24 21,362.59 b. Sundry Debtors 17,685.26 26,095.37 c. Cash and Bank Balances 16,205.40 19,212.16 d. Other Current Assets 240.73 227.06 e. Loans and Advances 42,565.98 21,883.66 92,745.61 88,780.84 Less : Current Liabilities and Provisions 8 a. Current Liabilities 11,498.34 22,395.35 b. Provisions 1,778.30 4,223.43 13,276.64 26,618.78 Net Current Assets 79,468.97 62,162.06 Significant Accounting Policies and Notes to Accounts 15 TOTAL 194,949.98 143,828.90 As per our report of even date For KHANDELWAL JAIN & CO. For KADAM & CO. For and on behalf of the Board Chartered Accountants Chartered Accountants SHIVRATAN AGARWAL U.S.KADAM V.N.DHOOT S. PADMANABHAN Partner Partner Chairman and Director Membership No. 104180 Membership No. 31055 Managing Director VINOD KUMAR BOHRA Place : Mumbai Company Secretary Date : February 26, 2009
Page 1 and 2: VIDEOCON INDUSTRIES LIMITED Annual
Page 3 and 4: NOTICE is hereby given that the Twe
Page 5 and 6: Dear Shareholders, The Board of Dir
Page 7 and 8: market. As result, TN 32” TV desi
Page 9 and 10: ANNEXURE TO DIRECTORS REPORT STATEM
Page 11 and 12: + Includes meeting(s) participated
Page 13 and 14: GENERAL BODY MEETING(S) 1. Location
Page 15 and 16: ) Distribution of Shareholding as o
Page 17 and 18: Glass shells Glass Shells (glass pa
Page 19 and 20: Nature of the Statute Nature of the
Page 21 and 22: Particulars PROFIT AND LOSS ACCOUNT
Page 23 and 24: As at 30th Sept., 2008 (Rupees in M
Page 25 and 26: SCHEDULE 6 : INVESTMENTS As at 30th
Page 27 and 28: SCHEDULE 6 : INVESTMENTS (Continued
Page 33 and 34: Year ended on 30th Sept., 2008 (Rup
Page 35 and 36: Arbitration Award at US$ 27.02 mill
Page 37 and 38: 30th September, 2008 Funded Gratuit
Page 39 and 40: 30th Sept., 2008 30th Sept., 2007 U
Page 41 and 42: STATEMENT PURSUANT TO SECTION 212 O
Page 43: Statement pursuant to exemption rec
Page 47 and 48: CONSOLIDATED CASH FLOW STATEMENT FO
Page 49 and 50: hypothecation of all the movables,
Page 51 and 52: SCHEDULES TO PROFIT AND LOSS ACCOUN
Page 53 and 54: Name of the Associate VB (Brazil) P
Page 55 and 56: application on July 7th, 2005 and a
Page 57 and 58: ii) Key Management Personnel - Mr.
Page 59 and 60: PROXY FORM VIDEOCON INDUSTRIES LIMI

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