in a Dynamic Environment - Tata Consultancy Services

Number of Number of Gross Amount
Non-Resident Equity of dividend
Shareholders Shares Held
(Rs. in crores)
2009 2008
Final dividend for 2006-2007 declared in
June 2007 7,768 8,04,32,379 - 32.17
Interim dividend declared in July 2007 7,833 8,18,07,102 - 24.54
Interim dividend declared in October 2007 7,823 8,67,04,469 - 26.01
Interim dividend declared in January 2008
Final dividend for 2007-2008 declared in
8,027 10,48,97,650 - 31.47
June 2008 8,289 11,15,49,408 55.78 -
Interim dividend declared in July 2008 8,395 11,20,08,775 33.60 -
Interim dividend declared in October 2008 8,716 11,15,59,826 33.47 -
Interim dividend declared in January 2009 8,775 11,26,77,140 33.80 -
27) Derivative Financial Instruments
The Company, in accordance with its risk management policies and procedures, enters into foreign currency forward
contracts and currency option contracts to manage its exposure in foreign exchange rates. The counter party is
generally a bank. These contracts are for a period between one day and eight years.
The Company has following outstanding derivative instruments as on March 31, 2009:
(i) The following are outstanding foreign exchange forward contracts, which have been designated as Cash Flow
Hedges, as on:
March 31, 2009 March 31, 2008
Foreign No. of Notional Fair Value No. of Notional Fair Value
Currency Contracts amount of (Rs. in crores) Contracts amount of (Rs. in crores)
Forward Forward
contracts contracts
(million) (million)
Gain / (Loss) Gain / (Loss)
U.S. Dollar 14 153.50 (92.00) 14 290.00 (25.21)
Sterling Pound - - - 3 15.00 (3.91)
Euro - - - 3 19.00 (11.78)
(ii) The following are outstanding Currency Option contracts, which have been designated as Cash Flow Hedges,
as on:
March 31, 2009 March 31, 2008
Foreign No. of Notional Fair Value No. of Notional Fair Value
Currency Contracts amount of (Rs. in crores) Contracts amount of (Rs. in crores)
Currency Currency
Option Option
contracts contracts
(million) (million)
Gain / (Loss) Gain / (Loss)
U.S. Dollar 26 907.60 (587.03) 67 3871.50 (88.70)
Sterling Pound 1 4.00 (0.85) 7 55.65 (2.23)
Euro 1 5.00 (5.59) 12 99.25 (38.75)
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