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Annual Report 2008-09Fixed assetsAddition to the gross block (excluding capital work-inprogress)in fiscal 2009 amounted to Rs.1,183.19 crore(Rs.943.87 crore in fiscal 2008). The significant additionswere: land and buildings of Rs.430.91 crore in fiscal 2009(Rs.303.90 crore in fiscal 2008) leasehold improvements of Rs.140.78 crore in fiscal2009 (Rs.87.05 crore in fiscal 2008) computers of Rs.329.51 crore in fiscal 2009(Rs.293.59 crore in fiscal 2008) office equipment, electrical installations andfurniture and fixtures of Rs.278.87 crore in fiscal2009 (Rs.256.05 crore in fiscal 2008).In fiscal 2009 the following premises were added:Facility Location Built-up Area(in square feet)Infocity Tower 3 Ahmedabad 89,016Rameshwar Baroda 55,297Pioneer (ITPL) Bangalore 472,698Sirusseri Chennai 1,394,958Synergy Park Hyderabad 99,205Kalinga Park Bhubaneshwar 132,381Kensington Mumbai 174,580Empire Plaza Mumbai 132,800DLF Akruti Pune 222,120Awadh Park Lucknow 123,365DLF Gurgaon Gurgaon 138,093Total 3,034,513The amount of capital work in progress (CWIP) ofRs.685.13 crore as at March 31, 2009 (Rs.889.74 crore asat March 31, 2008) mostly relates to construction/improvement of facilities which are expected to be readyfor use during fiscal 2010 and beyond.The Company made contractual commitments to vendorswho are executing various infrastructure projects. Theestimated amount of such contracts remaining to beexecuted on capital account were Rs.637.87 crore as atMarch 31, 2009 (Rs.503.40 crore as at March 31, 2008).The number of seats available in India as atMarch 31, 2009 was 101,623 (89,622 seats as atMarch 31, 2008).InvestmentsSummary of the Company's investments:Amount in Rs. croreAs at As atMarch March31, 2009 31, 2008Trade investments, bonds anddebentures 4,530.11 2,108.32Investments in mutual funds 1,410.42 2,405.51Total investments 5,940.53 4,513.83Less: provision for diminutionin value of investments 4.50 4.50Net investments 5,936.03 4,509.33The Company had been investing in various mutual funds.These are typically investments in short-term debt fundsto gainfully use the excess cash balances with theCompany. Investments in mutual funds aggregatedRs.1,410.42 crore as at March 31, 2009 (Rs.2,405.51 croreas at March 31, 2008), a reduction of Rs.995.09 crore.While investing in short-term instruments, the Companybalances tax-efficient returns with risks involved in suchinvestments. Consequently, there has been an increase ininvestments in bank fixed deposits of duration greaterthan three months, Rs.1,125.33 crore as at March31, 2009(Rs.125.28 crore as at March 31, 2008).During fiscal 2009, the Company has made the followingtrade investments:InvestmentsDetailsAcquisition of TCS e-Serve During the fiscal 2009 TCSLimited (formerly Limited acquired 1,19,36,313Citigroup Global Services shares (96.26 percent equityLimited)interest) for a considerationof Rs.2,449.48 crore.Investment in National During the fiscal 2009 TCSPower Exchange Limited invested in 25,00,000 shares(representing 50% ofNational Power ExchangeLimited share capital)for a consideration ofRs.2.50 crore. Thiscompany was established topromote trading of electricalpower in India.70
Deferred tax assets (net)Details of deferred tax assets (net) have been explainedunder the head of ‘Deferred tax liabilities (net)’.InventoriesThe Company had inventories of Rs.16.95 crore as atMarch 31, 2009 (Rs.17.19 crore as at March 31, 2008) atits Goa manufacturing plant. The inventory constitutesraw materials, components, sub-assemblies and finishedgoods.Current assets, loans and advancesUnbilled revenuesUnbilled revenues comprise revenues recognised inrelation to efforts incurred on fixed-price-fixed-timecontracts and time and material contracts not billed as ofthe year-end. Unbilled revenues were at Rs.817.06 croreas at March 31, 2009 (Rs.870.18 crore as at March 31,2008) representing 3.65% of the revenues for fiscal 2009(4.76% for fiscal 2008).Sundry debtorsSundry debtors as at March 31, 2009 aggregatedRs.3,717.73 crore (Rs.3,747.01 crore as at March 31, 2008).Provision for bad and doubtful debts in fiscal 2009 wasRs.110.08 crore (Rs.69.75 crore in fiscal 2008). Theamounts considered bad and doubtful as a percentage oftotal revenues was 0.49% as at March 31, 2009 (0.38%as at March 31, 2008). The increase in provisions for badand doubtful debts is mainly attributed to a few overseasclients facing economic difficulties and some domesticclients whose dues fell beyond stipulated period.Sundry debtors as at March 31, 2009 were 16.59 % ofrevenues for fiscal 2009 (20.49% as at March 31, 2008).Days Sales Outstanding (DSO) improved by 14 days,from 75 days as at March 31, 2008 to 61 days as atMarch 31, 2009.Cash and bank balancesThe Company had cash and bank balances ofRs.1,605.26 crore as at March 31, 2009 (Rs.527.52crore asat March 31, 2008). The balances with scheduled banks(including bank deposits and cash in transit) in Indiaaggregated Rs.1,205.58 crore as at March 31, 2009(Rs.192.09 crore as at March 31, 2008). This increase indeposits with scheduled banks is in line with the shortterminvestment strategy adopted in the presenteconomic climate. The balances with foreign banks wereRs.398.55 crore as at March 31, 2009 (Rs.333.78 crore asat March 31, 2008).Loans and advancesLoans and advances as at March 31, 2009 wereRs.3,089.85 crore (Rs.2,166.60 crore as at March 31, 2008).Significant items of loans and advances are: loans to subsidiary companies of Rs.536.79 crore asat March 31, 2009 (Rs.446.74 crore as at March 31,2008) advances recoverable in cash or kind or for value tobe received Rs.1,316.54 crore as at March 31, 2009(Rs.970.77 crore as at March 31, 2008) net advance tax (including refunds receivable)Rs.337.86 crore as at March 31, 2009 (Rs.178.47crore as at March 31, 2008) MAT credit entitlement of Rs.775.14 crore as atMarch 31, 2009 (Rs.351.58 crore as at March 31,2008) reduction in loans and advances to employeesRs.123.52 crore as at March 31, 2009 (Rs.219.04crore as at March 31, 2008).Current liabilitiesCurrent liabilities went up to Rs.3,501.13 crore as atMarch 31, 2009 as compared to Rs.2,404.18 crore as atMarch 31, 2008. This increase is primarily due to: change in fair values of foreign exchange forwardand currency option contracts Rs.683.18 crore asat March 31, 2009 (Rs.191.08 crore as at March 31,2008) increase in payables to subsidiary companiesRs.381.41 crore as at March 31, 2009 (Rs.229.56crore as at March 31, 2008) higher advances from customers Rs.197.38 crore asat March 31, 2009 (Rs.44.76 crore as at March 31,2008) increases in ‘other liabilities’, mainly on account ofsubcontracting expenses, selling and administrativeexpenses and employee incentives which are in linewith the increase in business, infrastructure andemployee base.ProvisionsProvisions made towards taxes, employee retirementbenefits, proposed dividend, tax on dividend andwarranties aggregated Rs.1,450.23 crore as atMarch 31, 2009 (Rs.1,187.44 crore as at March 31, 2008).The increase is mainly attributable to higher income taxprovisions of Rs.460.97 crore as at March 31, 2009(Rs.277.15 crore as at March 31, 2008), provision forincreased employee benefits Rs.407.29 crore as at March31, 2009 (Rs.334.83 crore as at March 31, 2008) and anadditional provision of Rs.8.19 crore for the proposeddividend on redeemable preference shares (including taxon dividend).71
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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
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 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: FINANCIAL POSITION - TCS LIMITED(UN
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
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Schedules forming part of the Balan
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Schedules forming part of the Profi
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SCHEDULE ‘Q’ - NOTES TO ACCOUNT
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services are rendered. Revenue from
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3) The Company has given undertakin
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The estimate of future salary incre
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Particulars Geographic Segment (Rs.
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ii) TCS Financial Solutions Austral
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(Rs. in crores)Particulars Holding
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(Rs. in crores)2009 2008Remuneratio
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19) Micro and Small Enterprises(Rs.
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Number of Number of Gross AmountNon
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No. of Shares* Tata Consultancy Ser
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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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