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Annual Report 2008-09Statement of Cash Flows for the year ended March 31, 20092009 2008Rs. in croresRs. in crores1 CASH FLOWS FROM OPERATING ACTIVITIESProfit before taxes 5139.69 5003.86Adjustments for:Depreciation 417.46 458.78Provision for doubtful advances 6.15 8.74Provision for doubtful debts 40.33 10.36Interest expense 7.44 3.42(Profit) / Loss on sale of fixed assets (net) (8.27) 0.36Loss from sale of long term investment - 5.14Unrealised exchange (gain) / loss (11.72) 11.22Exchange difference on translation of foreign currency cash and cash equivalents (18.21) 27.86Dividend income (127.85) (111.08)Interest income (82.24) (36.48)Profit on sale of mutual funds and other current investments (net) (48.98) (13.49)Operating Profit before working capital changes 5313.80 5368.69Inventories 0.24 (5.13)Unbilled revenues 53.12 (346.30)Sundry debtors (11.05) (957.57)Loans and advances (198.73) (106.18)Current liabilities and provisions 516.16 647.99Cash generated from operations 5673.54 4601.50Taxes paid (799.42) (773.59)Net cash provided by operating activities 4874.12 3827.912 CASH FLOWS FROM INVESTING ACTIVITIESPurchase of fixed assets (978.58) (1075.76)Proceeds from sale of fixed assets 45.45 4.81Purchase of trade investments (2451.98) (4.92)Proceeds from sale / transfer of trade investments - 4.23Purchase of mutual fund and other investments (28870.90) (28142.14)Sale of mutual fund and other investments 30047.76 26979.86Loans given to subsidiaries (75.36) (203.67)Loans repaid by subsidiaries 46.08 7.26Inter-corporate deposits placed (170.00) (42.00)Inter-corporate deposits refunded 90.00 22.00Fixed deposit with banks (net) having maturity over three months (935.00) (0.13)Dividends received from subsidiaries 8.52 6.20Dividends received from other investments 16.73 18.53Interest received 65.06 20.70Net cash used in investing activities (3162.22) (2405.03)3 CASH FLOWS FROM FINANCING ACTIVITIESIssue of preference shares (net of issue expenses) - 98.58Borrowings (net) 22.12 (32.49)Dividend paid, including dividend tax (1602.88) (1488.40)Interest paid (7.49) (3.30)Net cash used in financing activities (1588.25) (1425.61)Net increase / (decrease) in cash and cash equivalents 123.65 (2.73)Cash and cash equivalents at beginning of the year 398.79 429.38Exchange difference on translation of foreign currency cash and cash equivalents 18.21 (27.86)Cash and cash equivalents at end of the year 540.65 398.79Deposits with original maturity over three months 1060.16 125.16Restricted Cash 4.45 3.57Cash and Bank balance at the end of the year as per Schedule J 1605.26 527.52As per our report attachedFor Deloitte Haskins & SellsChartered AccountantsN. VenkatramPartnerS. RamadoraiCEO and Managing DirectorPhiroz VandrevalaHead Global Corporate Affairsand Executive DirectorFor and on behalf of the BoardRatan N. TataChairmanS. MahalingamChief Financial Officerand Executive DirectorAman MehtaDirectorN. ChandrasekaranChief Operating Officerand Executive DirectorNaresh ChandraDirectorV. ThyagarajanDirectorLaura M. ChaDirectorDr. Ron SommerDirectorMumbai, April 20, 2009Suprakash MukhopadhyayCompany SecretaryMumbai, April 20, 2009106
Schedules forming part of the Balance SheetAs atAs atMarch 31, 2009 March 31, 2008Rs. in croresRs. in croresSCHEDULE ‘A’SHARE CAPITAL(a) Authorised(i) 120,00,00,000 equity shares of Re.1 each 120.00 120.00(March 31, 2008 : 120,00,00,000 equity shares of Re.1 each)(ii) 100,00,00,000 redeemable preference shares of Re.1 each 100.00 100.00(March 31, 2008 : 100,00,00,000 redeemable preference sharesof Re.1 each)220.00 220.00(b) Issued, Subscribed and Paid up(i) 97,86,10,498 equity shares of Re.1 each 97.86 97.86(March 31, 2008 : 97,86,10,498 equity shares of Re.1 each)(ii) 100,00,00,000 redeemable preference shares of Re.1 each 100.00 100.00(March 31, 2008 : 100,00,00,000 redeemable preference sharesof Re.1 each)197.86 197.86Notes:1. Equity Shares of Rs.10 each have been sub-divided into ten equity shares ofRe. 1 each pursuant to the resolution passed by the shareholders at theAnnual General Meeting on May 5, 2004.2. The Company allotted 9,11,00,009 equity shares as fully paid up bonusshares by capitalisation of profits transferred from General Reserve, pursuantto a shareholders’ resolution passed at the Annual General Meeting onMay 5, 2004.3. The Authorised Share Capital was increased to 120,00,00,000 equity sharesof Re.1 each pursuant to a shareholders’ resolution passed at the AnnualGeneral Meeting on June 29, 2006.4. The Company allotted 48,93,05,249 equity shares as fully paid up bonusshares on July 31, 2006 by utilisation of Securities Premium Account.5. 91,90,440 equity shares of Re. 1 each, had been allotted in 2005-06 as fullypaid up to the Shareholders of erstwhile Tata Infotech Limited pursuant tothe Scheme of Amalgamation.6. The Authorized Share Capital was increased to Rs. 220 crores by creation of100,00,00,000 redeemable preference shares of face value of Re.1 eachpursuant to a shareholders’ resolution passed by postal ballot onMarch 17, 2008.7. Effective March 28, 2008, the Issued, Subscribed and Paid up capital increasedto Rs. 197.86 crores by allotment of 100,00,00,000 redeemable preferenceShares of face value of Re.1 each. These shares would be redeemable at parat the end of six years from the date of allotment but may be redeemed atany time after 3 years from the date of allotment at the option ofshareholder. These shares would carry a fixed cumulative dividend of 1%per annum and a variable non-cumulative dividend of 1% of the differencebetween the rate of dividend declared during the year on the equity sharesof the Company and the average rate of dividend declared on the equityshares of the Company for three years preceding the year of issue of theredeemable preference shares.8. 72,17,02,199 equity shares (March 31,2008 : 73,41,04,023 equity shares) and100,00,00,000 redeemable preference shares (March 31, 2008 : 100,00,00,000redeemable preference shares) are held by Tata Sons Limited, the holdingcompany.107
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Annual Report 2008 - 09agilityina D
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ContentsBoard of Directors 2Our Lea
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Laura M ChaIndependentDirectorDr. R
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N ChandrasekaranChief Operating Off
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Your Company remained focused on he
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"TCS is a valued customer, supplier
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“Nielsen is moving quickly to tra
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Board of DirectorsR N Tata (Chairma
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Management TeamFunctionNameIndustry
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3. DividendBased on the Company's p
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The Company has also been rated by
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11. Corporate SustainabilityIn keep
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13. Corporate Governance Report and
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Annexure to the Directors’ Report
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Expenditure on R&D(Rs. in crore)Yea
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Sr. Name Age Designation Gross Net
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DECLARATION REGARDING COMPLIANCE BY
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Chart 3: IT Services spends by indu
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B. FOCUS AREAS OF THE COMPANY1. Vis
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2.6 Organisation: From April 2008,
Page 57 and 58: Company also offers PerformanceMana
Page 59 and 60: 4. R&D and Innovation Labs: TCS est
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Page 63 and 64: The Company’s ability to bid for
Page 65 and 66: Corporate Governance practices and
Page 67 and 68: TCS LIMITED (UNCONSOLIDATED)RESULTS
Page 69 and 70: eduction in cost of software licens
Page 71 and 72: FINANCIAL POSITION - TCS LIMITED(UN
Page 73 and 74: Deferred tax assets (net)Details of
Page 75 and 76: Cash flow from investing activities
Page 77 and 78: RevenuesRevenues from operationsThe
Page 79 and 80: The primary reasons for the decreas
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Page 83 and 84: Rs.137.03 crore as at March 31, 200
Page 85 and 86: COMPANY'S CONSOLIDATED PERFORMANCE
Page 87 and 88: INTERNAL CONTROL SYSTEMS AND THEIR
Page 89 and 90: Name of Category Number of Board Wh
Page 91 and 92: (v)The composition of the Audit Com
Page 93 and 94: (ix)Group Health Insurance as separ
Page 95 and 96: Capital and revenue budgets and cap
Page 97 and 98: (vi)Market Price Data:High, Low (ba
Page 99 and 100: (xi) Shareholding as on March 31, 2
Page 101 and 102: COMPLIANCE CERTIFICATETO THE MEMBER
Page 103 and 104: ANNEXURE TO THE AUDITORS' REPORT(Re
Page 105 and 106: trading in shares, securities, debe
Page 107: INCOMEProfit and Loss Account for t
Page 111 and 112: Schedules forming part of the Balan
Page 133 and 134: Schedules forming part of the Profi
Page 135 and 136: SCHEDULE ‘Q’ - NOTES TO ACCOUNT
Page 137 and 138: services are rendered. Revenue from
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Page 141 and 142: The estimate of future salary incre
Page 143 and 144: Particulars Geographic Segment (Rs.
Page 145 and 146: ii) TCS Financial Solutions Austral
Page 147 and 148: (Rs. in crores)Particulars Holding
Page 149 and 150: (Rs. in crores)2009 2008Remuneratio
Page 151 and 152: 19) Micro and Small Enterprises(Rs.
Page 153 and 154: Number of Number of Gross AmountNon
Page 155 and 156: No. of Shares* Tata Consultancy Ser
Page 157 and 158: AUDITORS’ REPORT ON CONSOLIDATED
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Consolidated Profit and Loss Accoun
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Schedules forming part of the Conso
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SCHEDULE ‘D’UNSECURED LOANSSche
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e) DepreciationDepreciation other t
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Dividends are recorded when the rig
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Name of the Company Country of Perc
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3) Acquisitions / Divestmenta) On M
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Funded retirement benefits Indian F
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7) Unbilled revenue as at March 31,
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Particulars Geographic Segment (Rs.
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B) Transactions with related partie
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2009 2008(Rs. in crores)(Rs. in cro
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Net loss on derivative instruments
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Rs. in croresSr. Name of the Subsid
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Awards and RecognitionsWall Street
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