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AUDITORS’ REPORTThe Board of DirectorsHCL Technologies LimitedWe have audited the attached consolidated balance sheet ofHCL Technologies Limited, its subsidiaries and joint ventures(together refer to as ‘Group’), as at June 30, 2010, and also theconsolidated prot and loss account and the consolidated cashow statement for the year ended on that date annexed thereto.These nancial statements are the responsibility of the Group’smanagement. Our responsibility is to express an opinion onthese nancial statements based on our audit.We conducted our audit in accordance with the auditingstandards generally accepted in India. Those Standardsrequire that we plan and perform the audit to obtain reasonableassurance about whether the nancial statements are freeof material misstatement. An audit includes examining, on atest basis, evidence supporting the amounts and dis closuresin the nancial statements. An audit also includes assessingthe accounting principles used and signicant estimates madeby management, as well as evaluating the overall nancialstatement presentation. We believe that our audit provides areasonable basis for our opinion.We report that the consolidated nancial statements havebeen prepared by the Company’s management in accordancewith the requirements of Accounting Standards (AS) 21,Consolidated nancial statements and Accounting Standard(AS) 27, Financial Reporting of Interests in Joint Ventures[notied pursuant to the Companies (Accounting Standards)Rules, 2006, (as amended)].In our opinion and to the best of our information and accordingto the explanations given to us, the consolidated nancialstatements give a true and fair view in conformity with theaccounting principles generally accepted in India:(a) in the case of the consolidated balance sheet, of the stateof affairs of the Group as at June 30, 2010;(b) in the case of the consolidated prot and loss account, ofthe prot for the year ended on that date; and(c) in the case of the consolidated cash ow statement, of thecash ows for the year ended on that date.For S.R. Batliboi & Co.Firm registration number: 301003EChartered Accountantsper Tridibes BasuPartnerMembership No.: 17401Gurgaon (India)July 29, 2010105
Consolidated Balance Sheet(All amounts in crores of rupees)As at30 June 2010As at30 June 2009ScheduleSources of FundsShareholders’ fundsShare capital 1 135.76 134.05Share application money pending allotment 2.01 0.47Reserves and surplus 2 6,151.06 4,808.286,288.83 4,942.80Minority interest 3.68 2.97Loan fundsSecured Loans 3 2,345.90 2,595.37Unsecured loans 4 378.34 420.852,724.24 3,016.229,016.75 7, 961.99Application of fundsFixed assets 5Gross block 7,061.60 6,779.64Less : Accumulated depreciation and amortisation 2,221.98 1,863.87Net block 4,839.62 4,915.77Capital work-in-progress (including capital advances) 609.13 489.135,448.75 5,404.90Investments 6 831.70 40.34Deferred tax assets (net) 20 (7) 375.67 456.52Current assets, loans and advancesInventories 7 65.17 169.56Sundry debtors 8 2,521.06 2,175.05Cash and bank balances 9 1,580.37 1,898.70Other current assets 10 946.21 940.54Loans and advances 11 833.79 677.86(A) 5,946.60 5,861.71Less: Current liabilities and ProvisionsCurrent liabilities 12 2,979.93 3,278.00Provisions 13 606.04 523.48(B) 3,585.97 3,801.48Net current assets (A-B) 2,360.63 2,060.239,016.75 7,961.99Signicant accounting policies and notes to accounts 20The schedules referred to above and notes to accounts form an integral part of the Consolidated Balance Sheet.As per our report of even dateFor HCL Technologies LimitedFor S. R. Batliboi & Co.Firm Registration Number: 301003EChartered Accountantsper Tridibes BasuPartnerMembership Number: 17401Gurgaon, India29 July 2010Shiv NadarChairman and Chief Strategy OfcerVineet NayarCEO & Wholetime DirectorSandip GuptaDeputy Chief Financial OfcerRaj Kumar WaliaSenior Vice President - Finance & AccountsNoida (UP), India29 July 2010106T S R SubramanianDirectorAnil ChananaChief Financial OfcerPrahlad Rai BansalCorporate Vice President - FinanceManish AnandDeputy Company Secretary
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CONTENTSBoard of Directors 2Managem
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MANAGEMENT DISCUSSION AND ANALYSISI
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When looking at the growth opportun
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on reusable components and framewor
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developing best practices, developm
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Outsourcing costs includes (a) outs
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FISCAL 2010 COMPARED TO FISCAL 2009
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DIRECTORS’ REPORTDear Shareholder
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DEBENTURESDuring the year, the Comp
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eing, if the employee is satised, h
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(iii) Future plan of actionYour Com
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ANNEXURE 3 TO THE DIRECTORS’ REPO
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Administrator’s interpretation of
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independent view to the Company’s
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Nature of expertise in functional a
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5. Ms. Robin AbramsS. No. Name of t
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usiness environment including busin
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management, or their relatives, etc
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Nominations CommitteeThe Nomination
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General Body MeetingsThe location a
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The Bombay Stock Exchange Ltd. (BSE
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f) Categories of shareholders as on
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158, Arcot Road VadapalaniChennai-
Page 55 and 56: Hyderabad CentersGround & First Flo
Page 57 and 58: AUDITORS’ CERTIFICATEREGARDING CO
Page 60: Financial Statements
Page 63 and 64: (iv)(v)(vi)(vii)(viii)(ix)In our op
Page 65 and 66: Balance Sheet as at 30 June 2010(Al
Page 67 and 68: Cash Flow statement for the year en
Page 69 and 70: Schedules to the accounts(All amoun
Page 77 and 78: Schedules forming part of the accou
Page 104: Consolidated Statements
Page 109: Consolidated Cash flow statement(Al
Page 112 and 113: Schedules to the consolidated accou
Page 118 and 119: Schedules to the consolidated finan
Page 142 and 143: Statement regarding Subsidiary Comp
Page 144 and 145: Statement regarding Subsidiary Comp
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