in a Dynamic Environment - Domain-b

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Annual Report 2008-09Net loss on derivative instruments of Rs. 462.63 crores recognised in Hedging Reserve as of March 31, 2009, isexpected to be reclassified to the profit and loss account by March 31, 2010.The movement in Hedging Reserve during the year ended March 31, 2009, for derivatives designated as CashFlow Hedges is as follows:Year endedYear endedMarch 31, 2009 March 31, 2008(Rs. in crores)(Rs. in crores)Balance at the beginning of the year (15.15) 73.71Gains / (losses) transferred to income statement onoccurrence of forecasted hedge transaction 21.83 (64.91)Changes in the fair value of effective portion ofoutstanding cash flow derivatives (630.73) (174.78)Net derivative (losses) / gain related to discontinuedcash flow hedges (97.81) 150.83Balance at the end of the year (721.86) (15.15)In addition to the above cash flow hedges, the Company has outstanding foreign exchange forward contractsand currency option contracts aggregating Rs. 4058.50 crores (March 31, 2008: Rs. 2141.23 crores) whose fairvalue showed a gain of Rs. 7.26 crores as on March 31, 2009 (March 31, 2008: loss of Rs. 4.46 crores). Althoughthese contracts are effective as hedges from an economic perspective, they do not qualify for hedge accountingand accordingly these are accounted as derivatives instruments at fair value with changes in fair value recordedin the profit and loss account. Exchange loss of Rs. 400.49 crores (March 31, 2008: exchange gain Rs. 283.76crores) on foreign exchange forward contracts and currency option contracts have been recognised in the yearended March 31, 2009.As of balance sheet date, the Company has net foreign currency exposures that are not hedged by a derivativeinstrument or otherwise amounting to Rs.1209.54 crores. (March 31, 2008: Rs. 1717.17 crores).28) Disclosure required by Clause 32 of the Listing AgreementAmount of loans and advances in nature of loans outstanding from subsidiaries for the year ended March 31, 2009.Subsidiary Company Outstanding as at Maximum AmountMarch 31, 2009 outstanding during the year(Rs. in crores)(Rs. in crores)MP Online Limited 1.70 1.701.70 1.70Tata Consultancy Services Asia Pacific Pte Ltd. * - 45.7537.10 40.21TCS FNS Pty Limited ** 187.97 216.99185.16 189.76TCS Iberoamerica SA *** 300.05 301.25186.89 186.89CMC Limited **** 34.49 34.4928.93 28.93Tata Consultancy Services Morocco SARL AU 12.05 12.104.15 4.15152
No. of Shares* Tata Consultancy Services Asia Pacific Pte Ltd. has made the following investmentsin its subsidiaries:(a) Tata Consultancy Services Malaysia Sdn Bhd 20,00,000(b) Tata Consultancy Services Japan Ltd. 1,200(c) Tata Consultancy Services (China) Co., Ltd. 7,27,97,760(d) PT Tata Consultancy Services Indonesia 99(e) Tata Information Technology (Shanghai) Company Limited 50,00,000(f) Tata Consultancy Services (Thailand) Limited 7,99,998(g) Tata Consultancy Services (Philippines) Inc. 85,995** TCS FNS Pty Limited has made the following investments in its subsidiaries:(a) TCS Financial Solutions Australia Holdings Pty Limited(formerly Financial Network Services (Holdings) Pty Limited) 65,58,424(b) TCS Management Pty Ltd. 3,12,494*** TCS Iberoamerica SA has made the following investments in its subsidiaries:(a) TCS Solution Centre S.A. 50,00,000(b) Tata Consultancy Services Argentina S.A. 69,240(c) Tata Consultancy Services Do Brasil Ltda 8,67,31,803(d) Tata Consultancy Services De Mexico S.A., De C.V. 49,500(e) Tata Consultancy Services De Espana S.A. 59,598(f) TCS Inversiones Chile Limitada 3,10,10,000**** CMC Limited has made the following investments in its subsidiaries:(a) CMC Americas Inc 16,00,01,00029) Earning per share :(Rs. in crores)March 31, 2009 March 31, 2008Net profit for the year 4696.21 4508.76Less: Preference share dividend (including dividend tax) 8.19 0.08Amount available for Equity shareholder 4688.02 4508.68Weighted Average No. of Shares 97,86,10,498 97,86,10,498Earning per share basic and diluted (Rs.) 47.91 46.07Face value per Equity share (Rs.) 1 130) Subsequent eventThe Board of directors have recommended the issue of bonus shares in the proportion of one new equity share for everyexisting equity share by utilization of Securities Premium Account, subject to the approval of the shareholders.31) Previous year's figures have been recast/restated wherever necessary.32) Previous year's figures are in italics.153
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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,
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Company also offers PerformanceMana
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4. R&D and Innovation Labs: TCS est
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Chart 24: Diversity: Global work fo
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The Company’s ability to bid for
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Corporate Governance practices and
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TCS LIMITED (UNCONSOLIDATED)RESULTS
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eduction in cost of software licens
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FINANCIAL POSITION - TCS LIMITED(UN
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Deferred tax assets (net)Details of
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Cash flow from investing activities
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RevenuesRevenues from operationsThe
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The primary reasons for the decreas
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obligations under finance lease was
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Rs.137.03 crore as at March 31, 200
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COMPANY'S CONSOLIDATED PERFORMANCE
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INTERNAL CONTROL SYSTEMS AND THEIR
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Name of Category Number of Board Wh
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(v)The composition of the Audit Com
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(ix)Group Health Insurance as separ
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Capital and revenue budgets and cap
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(vi)Market Price Data:High, Low (ba
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(xi) Shareholding as on March 31, 2
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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 and 108: INCOMEProfit and Loss Account for t
Page 109 and 110: 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: Number of Number of Gross AmountNon
Page 157 and 158: AUDITORS’ REPORT ON CONSOLIDATED
Page 159 and 160: Consolidated Profit and Loss Accoun
Page 161 and 162: Schedules forming part of the Conso
Page 163 and 164: SCHEDULE ‘D’UNSECURED LOANSSche
Page 171 and 172: e) DepreciationDepreciation other t
Page 173 and 174: Dividends are recorded when the rig
Page 175 and 176: Name of the Company Country of Perc
Page 177 and 178: 3) Acquisitions / Divestmenta) On M
Page 179 and 180: Funded retirement benefits Indian F
Page 181 and 182: 7) Unbilled revenue as at March 31,
Page 183 and 184: Particulars Geographic Segment (Rs.
Page 185 and 186: B) Transactions with related partie
Page 187 and 188: 2009 2008(Rs. in crores)(Rs. in cro
Page 189 and 190: Net loss on derivative instruments
Page 191 and 192: Rs. in croresSr. Name of the Subsid
Page 193 and 194: Awards and RecognitionsWall Street
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