in a Dynamic Environment - Domain-b

More documents

Recommendations

Info

Annual Report 2008-09Name of the Company Country of Percentage of Percentage ofIncorporation voting power voting poweras at March 31, as at March 31,2009 2008Tata Consultancy Services BPO Chile SA Chile 100.00 100.00Syscrom S.A. Chile 100.00 100.00Custodia De Documentos Interes Limitada Chile 100.00 100.00TATASOLUTION CENTER S.A Ecuador 100.00 100.00TCS Financial Solutions Australia Australia 100.00 100.00Holdings Pty LimitedTCS Financial Solutions Australia Pty Limited Australia 100.00 100.00TCS Management Pty Ltd. Australia 100.00 100.00Financial Network Services (Europe) Plc UK - 100.00PT Financial Network Services Indonesia 100.00 100.00PT Tata Consultancy Services Indonesia Indonesia 100.00 100.00Financial Network Services (Africa) (Pty) South Africa 100.00 100.00Ltd.Financial Network Services (H.K.) Limited Hong Kong 100.00 100.00Tata Consultancy Services Switzerland Ltd. Switzerland 100.00 100.00Tata Consultancy Services France SAS France 100.00 100.00Tata Consultancy Services South Africa 75.00 100.00(South Africa) (PTY) Ltd.TCS Financial Management, LLC USA 100.00 100.00Tata Consultancy Services (Thailand) Limited Thailand 100.00 -(w.e.f. 12.05.2008)Tata Consultancy Services (Philippines) Inc. Philippines 100.00 -(w.e.f. 19.09.2008)TCS e-Serve International Limited India 100.00 -(w.e.f. 31.12.2008) (formerly CGSLInternational Limited)TCS e-Serve America, Inc (w.e.f. 10.02.2009) USA 100.00 -AssociatesExegenix Research Inc. Canada 49.90 49.90Firstech Solution Co. Limited Thailand 15.38 20.00(ceased to be an associate w.e.f. 12.01.2009)National Power Exchange Limited India 50.00 -(w.e.f. 11.12.2008)b) The contribution of the subsidiaries formed or acquired during the year is as under:(Rs. in crores)Name of Subsidiary Revenue Net Profit/(Loss) Net Assets(post acquisition) (post acquisition)Tata Consultancy Services (Thailand) Limited - (0.28) 0.86Tata Consultancy Services (Philippines) Inc. - 0.08 0.99TCS e-Serve Limited 324.47 117.48 621.15TCS e-Serve International Limited 17.06 (25.46) (17.18)TCS e-Serve America, Inc - - -174
3) Acquisitions / Divestmenta) On May 12, 2008, the Company, through its wholly owned subsidiary, Tata Consultancy Services Asia Pacific Pte Ltd.,subscribed to 100 percent share capital of Tata Consultancy Services (Thailand) Limited.b) On September 19, 2008, the Company, through its wholly owned subsidiary, Tata Consultancy Services Asia PacificPte Ltd., subscribed to 100 percent share capital of Tata Consultancy Services (Philippines) Inc.c) On October 22, 2008, Tata Infotech Deutschland GmbH has merged with Tata Consultancy Services DeutschlandGmbH. The merged entity is a wholly owned subsidiary of Tata Consultancy Services Limited.d) On December 2, 2008, Financial Network Services (Europe) Plc (subsidiary of TCS FNS Pty Limited) has been voluntarilyliquidated.e) On December 11, 2008 the Company subscribed to 50 percent share capital of National Power Exchange Limited,established to promote trading of electrical power in India.f) On December 31, 2008 the Company acquired 96.26 percent equity interest in TCS e-Serve Limited (formerly knownas Citigroup Global Services Limited (CGSL)), a business process outsourcing provider in the Banking and FinancialServices sector, for a total consideration of Rs. 2449.48 crores (USD 504.54 million).g) On February 10, 2009, the Company, through its subsidiary, TCS e-Serve International Limited, subscribed to 100percent share capital of TCS e-Serve America, Inc.4) The Company has given undertakings to (a) Bank of China Co. Limited, not to transfer its controlling interest inTCS Financial Solutions Australia Pty Limited (formerly Financial Network Services Pty. Limited), (b) The Government ofMadhya Pradesh not to divest its shareholding in MP Online Limited except to an affiliate, (c) State Bank of India not to sell,transfer or otherwise dispose off its share or any interest in C-Edge Technologies Limited. In addition the Company's whollyowned subsidiary Tata Consultancy Services Asia Pacific Pte Ltd. has given undertakings to Beijing Zhongguancun SoftwarePark Development Co. Limited, Tianjin Huayuan Software Area Construction and Development Co. Limited and UniwareCo. Limited not to divest its shareholding in Tata Consultancy Services (China) Co., Ltd.5) Consequent to the Guidance on implementing Accounting Standard 15 "Employee Benefits" (AS-15) which clarifies theapplicability of the Accounting Standard, the Company has considered certain entitlements to earned leave which can becarried forward to future periods as a long-term employee benefit. The resultant reduction of Rs. Nil (March 31, 2008:Rs. 31.25 crores - net of deferred tax) in the net liability in respect of employee benefit arising on April 1, 2006, the date ofadoption has been adjusted to General Reserves6) Retirement benefit plansa) Defined contribution plansThe Company and its subsidiaries make Provident Fund and Superannuation Fund contributions to definedcontribution retirement benefit plans for qualifying employees. Under the schemes, the Company and its subsidiariesare required to contribute a specified percentage of the payroll costs to fund the benefits. The Provident Fundscheme additionally requires the Company and its subsidiaries to guarantee payment of interest at rates notified bythe Central Government from time to time, for which shortfall has been provided for as at the Balance Sheet date.The Group recognised to Rs. 232.06 crores (Previous year: Rs. 202.51 crores) for provident fund contributions and Rs.97.66 crores (Previous year: Rs. 70.22 crores) for superannuation contributions in the profit and loss account. Thecontributions payable to these plans by the Group are at rates specified in the rules of the schemes.The Group has contributed Rs 31.88 crores (Previous year: Rs. 17.72 crores) towards foreign defined contributionplans.b) Defined benefit plansIn accordance with Indian law, the Company and its subsidiaries in India provide for gratuity, post retirement medicalbenefit and pension plan, a defined benefit retirement plan covering eligible employees in India. The plan providesfor a lump sum payment to vested employees at retirement, death while in employment or on termination ofemployment in an amount equivalent to 15 to 30 days salary payable for each completed year of service. Vestingoccurs upon completion of five years of service. The measurement date used for determining retirement benefits forgratuity is March 31. Certain overseas subsidiaries of the Company also provide for retirement benefit plans inaccordance with the local laws.The present value of the defined benefit obligation and the related current service cost were measured using theProjected Unit Credit Method, with actuarial valuation being carried out at each balance sheet date.The following table set out the funded status of the retirement benefit plans and the amounts recognised in thefinancial statements:175
Page 1 and 2:
Annual Report 2008 - 09agilityina D
Page 3 and 4:
ContentsBoard of Directors 2Our Lea
Page 5 and 6:
Laura M ChaIndependentDirectorDr. R
Page 7 and 8:
N ChandrasekaranChief Operating Off
Page 9 and 10:
Your Company remained focused on he
Page 11 and 12:
"TCS is a valued customer, supplier
Page 13 and 14:
“Nielsen is moving quickly to tra
Page 19 and 20:
Board of DirectorsR N Tata (Chairma
Page 21 and 22:
Management TeamFunctionNameIndustry
Page 23 and 24:
3. DividendBased on the Company's p
Page 25 and 26:
The Company has also been rated by
Page 27 and 28:
11. Corporate SustainabilityIn keep
Page 29 and 30:
13. Corporate Governance Report and
Page 31 and 32:
Annexure to the Directors’ Report
Page 33 and 34:
Expenditure on R&D(Rs. in crore)Yea
Page 35 and 36:
Sr. Name Age Designation Gross Net
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
DECLARATION REGARDING COMPLIANCE BY
Page 51 and 52:
Chart 3: IT Services spends by indu
Page 53 and 54:
B. FOCUS AREAS OF THE COMPANY1. Vis
Page 55 and 56:
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
Page 61 and 62:
Chart 24: Diversity: Global work fo
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
Page 81 and 82:
obligations under finance lease was
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 and 108:
INCOMEProfit and Loss Account for t
Page 109 and 110:
Schedules forming part of the Balan
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126: 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
Page 139 and 140: 3) The Company has given undertakin
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
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: Name of the Company Country of Perc
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
show all

in a Dynamic Environment - Domain-b

Create successful ePaper yourself

Delete template?

Save as template?