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KPIT Infosystems Inc., USA Consolidated Cash Flow Statement for the year ended (Pursuant to Section 212 of the Companies Act, 1956) March 31, 2011 March 31, 2010 Particulars A] Cash fl ow from operating activities USD ` USD ` Net profi t/(loss) before tax and extraordinary items Adjustments for 1,423,877 64,919,236 1,166,625 55,239,684 (Profi t)/loss on sale of fi xed assets - - - - Depreciation 80,626 3,675,990 124,164 5,604,730 Interest and fi nancial charges (1,061) (48,333) 32,691 1,547,967 Interest income (87,565) (3,992,390) - - Provision for doubtful debts/(Write back of excess provision for bad and doubtful debts) - - - - Dividend received - - - - Foreign exchange (gain)/loss - - - - Cash fl ow before working capital changes Adjustments for 1,415,876 64,554,503 1,323,480 62,392,381 (Increase)/decrease in receivables (10,664,705) (470,755,771) 929,626 111,669,120 (Increase)/decrease in loans and advances (4,340,411) (191,090,991) (1,688,007) (55,321,856) Increase/(decrease) in accounts payable 15,117,600 668,867,989 (2,613,131) (205,247,854) Cash infl ow/(outfl ow) from operations Direct taxes and extra-ordinary items 1,528,361 71,575,731 (2,048,032) (86,508,208) Taxes paid (1,106,946) (50,469,321) (900,458) (42,636,686) Deferred tax 3,129 135,538 (3,494) (227,480) Exceptional Items - - - - Net cash infl ow/(outfl ow) from operations B] Cash fl ow from investing activity 424,544 21,241,949 (2,951,984) (129,372,374) Purchase of fi xed assets (97,048) (6,206,695) (6,775) (136,431) Goodwill on acquisition of CPG (5,774,827) (257,846,019) - - (Increase)/decrease in investments - 6,331,878 (10,760,867) (473,188,179) Interest received 87,565 3,992,390 - - Net Cash from/(used) in investing activity C] Cash fl ow from fi nancing activity (5,784,310) (253,728,445) (10,767,642) (473,324,610) Issue of shares 6,000,000 269,558,219 12,750,000 596,781,250 Increase/(decrease) in capital reserve - - - - Profi t distributed to shareholders 2,383 - - - Increase/(decrease) in working capital loan 450,000 20,092,500 - - Interest and fi nance charges 1,061 48,333 (32,691) (1,547,967) Net cash used in fi nancing activity 6,453,444 289,699,051 12,717,309 595,233,283 D] Exchange Gain/(Loss) Net Increase/(decrease ) in cash and - (9,495,582) - (56,833,220) cash equivalents (A + B + C + D) 1,093,679 47,716,973 (1,002,316) (64,296,921) Cash and cash equivalents at close of the year (refer note below) 3,370,607 150,497,512 2,276,928 102,780,539 Cash and cash equivalents at beginning of the year (refer note below) 2,276,928 102,780,539 3,279,244 167,077,460 Cash surplus/(defi cit) for the year Note: Cash and cash equivalents include: 1,093,679 47,716,973 (1,002,316) (64,296,921) Remittance in Transit Balance with non-scheduled banks - - - - - On current accounts 3,370,605 150,497,512 2,276,928 102,780,539 - On deposit account - - - - 3,370,605 150,497,512 2,276,928 102,780,539 For and on behalf of the Board of Directors Pune Kishor Patil Ajay Bhagwat April 25, 2011 Chairman Director 8 Schedules forming part of the Balance Sheet as on (Pursuant to Section 212 of the Companies Act, 1956) March 31, 2011 March 31, 2010 USD ` USD ` SCHEDULE - I SHARE CAPITAL Authorised 100,000 common shares with no par value 5,590,000 334,782,764 5,590,000 334,782,764 Issued, Subscribed and Paid Up 10,892 common shares (Previous year 10,592) 10,892 shares are held by the holding company KPIT Cummins Infosystems Limited 24,209,854 1,110,577,204 18,209,854 841,018,985 Total 24,209,854 1,110,577,204 18,209,854 841,018,985 SCHEDULE - II RESERVES AND SURPLUS Capital reserve As per last Balance Sheet 31,780 1,418,977 31,780 1,434,549 Additions during the year - - - - General reserve 31,780 1,418,977 31,780 1,434,549 As per last Balance Sheet 1,208,317 90,113,736 939,767 77,510,739 Transferred from Profi t and Loss Account 316,931 14,449,915 266,167 12,602,998 Translation reserve 1,525,248 104,563,651 1,205,934 90,113,736 As per last Balance Sheet - (55,789,297) - 859,281 Additions during the year - (9,480,010) - (56,648,578) - (65,269,308) - (55,789,297) Total 1,557,028 40,713,320 1,237,714 35,758,988 SCHEDULE - III UNSECURED LOANS Loan from KPSO 450,000 20,092,500 - - Total 450,000 20,092,500 - -
Schedules forming part of the Balance Sheet as on (Pursuant to Section 212 of the Companies Act, 1956) SCHEDULE - IV FIXED ASSETS Particulars As on April 1, 2010 Opening Balance as per CPG 9 Financial Statement of the Subsidiaries F.Y. 2010-2011 Gross Block Depreciation Net Block Additions Deductions/ Discarded Exchange Gain/Loss As on March 31, 2011 Upto April 1, 2010 Opening Balance as per CPG For the Period On Deduction/ Discarded Exchange Gain/Loss Up to March 31, 2011 As on March 31, 2011 USD As on March 31, 2010 Building - - 14,228 - - 14,228 - - - - - - 14,228 - Computer Hardware 178,743 90,999 19,250 10,771 - 278,221 159,561 40,986 22,618 8,609 - 214,556 63,665 19,182 Offi ce Equipment 26,840 - 860 1,137 - 26,563 26,416 - 295 303 - 26,408 155 424 Furniture and Fixtures 55,716 3,956 12,808 - - 72,480 45,570 1,072 6,351 - - 52,992 19,488 10,146 Electrical Equipments 1,850 - - - - 1,850 1,850 - - - - 1,850 - - Goodwilll 308,016 - - - - 308,016 256,654 - 51,362 - - 308,016 - 51,361 Total 571,164 94,955 47,146 11,908 - 701,357 490,051 42,058 80,626 8,912 - 603,822 97,536 81,113 Previous Year 564,389 - 6,775 - - 571,164 365,887 - 124,163 - - 490,050 81,113 198,502 Particulars As on April 1, 2010 Opening Balance as per CPG Gross Block Depreciation Net Block Additions Deductions/ Discarded Exchange Gain/Loss As on March 31, 2011 Upto April 1, 2010 Opening Balance as per CPG For the Period On Deduction / Discarded Exchange Gain/Loss Up to March 31, 2011 As on March 31, 2011 ` As on March 31, 2010 Building - - 635,290 - - 635,290 - - - - - - 635,290 - Computer Hardware 7,880,163 4,087,658 830,462 (480,924) (24,570) 12,292,789 7,186,280 1,841,085 1,031,239 384,399 (23,669) 7,809,452 4,483,337 693,883 Offi ce Equipment 1,243,273 - 38,629 (50,771) - 1,231,131 1,225,927 - 13,457 13,533 - 1,225,851 5,279 17,346 Furniture and Fixtures 2,426,478 177,716 571,883 - (1,068) 3,175,009 1,998,612 48,145 289,550 - (790) 2,287,372 887,637 427,866 Electrical Equipments 85,100 - - - - 85,100 81,336 - - - - 81,336 3,764 3,764 Goodwill 12,228,223 - - - - 12,228,223 10,747,646 - 2,341,743 - - 13,089,390 (861,167) 1,480,577 Total 23,863,237 4,265,374 2,076,263 (531,695) - 29,647,541 21,239,802 1,889,230 3,675,990 397,932 (24,459) 24,493,401 5,154,140 2,623,435 Previous Year 23,726,806 - 136,431 - - 23,863,238 15,635,071 - 5,604,730 - - 21,239,802 2,623,436 8,091,735 March 31, 2011 March 31, 2010 USD ` USD ` SCHEDULE - V INVESTMENTS Long-term investments Trade (Unquoted) Investment in Subsidiaries Solvcentral.com, Inc. A subsidiary company incorporated in USA 2550 equity shares at par - Solvcentre 4,861,334 217,058,559 4,861,334 219,440,613 Sparta Consulting Inc., USA 8,060,867 359,917,704 8,060,867 363,867,529 Investment in shares of Findant Inc. 342,136 15,276,372 342,136 15,444,019 Provision for decline in the value of investments (342,136) (15,276,372) (342,136) (15,444,019) Total 12,922,201 576,976,263 12,922,201 583,308,141 SCHEDULE - VI SUNDRY DEBTORS Unsecured Outstanding for a period exceeding six months Considered good - - - - Considered doubtful - - 213,015 9,615,480 Other Debts - - 213,015 9,615,480 Considered good 21,732,635 970,362,157 10,860,423 490,239,487 Considered doubtful - - 4,404 198,801 21,732,635 970,362,157 10,864,827 490,438,289 Less: Reserve for doubtful debts - - (9,911) (447,383) 21,732,635 970,362,157 11,067,931 499,606,386 Total 21,732,635 970,362,157 11,067,931 499,606,386 March 31, 2011 March 31, 2010 USD ` USD ` SCHEDULE - VII CASH AND BANK BALANCES Cash on hand Cheques on hand Balance with scheduled banks On current accounts Ro CITI Bank 3,370,605 150,497,512 2,276,928 102,780,539 Total 3,370,605 150,497,512 2,276,928 102,780,539 SCHEDULE - VIII LOANS AND ADVANCES [Unsecured, considered good] Advances recoverable in cash or in kind or for value to be received 90,340 4,033,689 179,101 8,084,602 Due from Group companies 12,167 543,264 9,871 445,569 Loan to Sparta Consulting Inc. 5,563,976 248,431,522 3,001,772 135,499,998 Advance Tax 4,037,818 180,288,590 2,252,864 101,694,266 Prepaid expenses 134,263 5,994,852 54,684 2,468,416 Deposits 29,070 1,297,993 28,934 1,306,068 Total 9,867,635 440,589,910 5,527,225 249,498,919 SCHEDULE - IX CURRENT LIABILITIES AND PROVISIONS Current liabilities Sundry creditors For goods and services 2,738,321 122,266,035 624,929 28,256,606 For accrued salaries and benefi ts 1,531,746 68,392,476 769,783 34,747,992 Due to Group companies 19,298,549 861,680,227 8,084,698 364,943,269 23,568,617 1,052,338,738 9,479,410 427,947,868 Provisions For expenses 450,763 20,126,576 526,189 23,752,164 For Taxation 3,517,533 157,057,848 2,413,716 108,955,140 3,968,296 177,184,424 2,939,905 132,707,304 Total 27,536,915 1,229,523,162 12,419,314 560,655,172
Page 1 and 2: Connected world FINANCIAL STATEMENT
Page 3 and 4: KPIT Infosystems Limited Registered
Page 5 and 6: Schedules to the Balance Sheet as a
Page 7 and 8: Contingent Assets are not recognize
Page 9: KPIT Infosystems Inc. Registered Of
Page 13 and 14: Sr. No. No Provisions is recognized
Page 15 and 16: KPIT Infosystems GmbH Registered Of
Page 17 and 18: Schedules annexed to and forming pa
Page 19 and 20: Such obligations are recorded as Co
Page 21 and 22: Cash Flow Statement for the year en
Page 23 and 24: Schedules to Profi t and Loss Accou
Page 25 and 26: KPIT Infosystems France SAS (former
Page 27 and 28: Schedules to the Balance Sheet as a
Page 29 and 30: h) Conversion into Indian Rupees Th
Page 31 and 32: Statement of Profi t and Loss for t
Page 35 and 36: h) Investments Long-term Investment
Page 37 and 38: Balance Sheet as at Schedule March
Page 41 and 42: 2.6 Earning in foreign currency (On
Page 43 and 44: Cash Flow Statement for the year en
Page 47 and 48: Statement pursuant to Section 212 o
Page 49 and 50: Notes
Page 52: REGISTERED OFFICE, CORPORATE OFFICE

Connected world - KPIT Cummins

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