Sd/- For, Swamy & Ravi Chartered Accountants Firm Registration number : S. Sd/- Bangalore. Balance sheet (Rs) As of March 31, As of March 31,

Transcription

1 Balance sheet SOURCES OF FUNDS As of As of Schedule SHAREHOLDERS' FUNDS Share capital 1 415, ,890 Reserves and surplus 2 92,454, ,794,025 92,870, ,209,915 APPLICATION OF FUNDS FIXED ASSETS AND INTANGIBLE ASSETS Gross block 3 155,861, ,873,004 Less: Accumulated depreciation and amortisation 149,622, ,212,756 Net block 6,238,892 16,660,248 CURRENT ASSETS, LOANS AND ADVANCES Sundry debtors 4-621,086 Cash and bank balances 5 15,840,089 14,443,131 Loans and advances 6 18,948, ,232,157 34,788, ,296,374 LESS: CURRENT LIABILITIES AND PROVISIONS Liabilities 7 474,672,574 77,865,717 Provisions 8 34,292,250 40,880, ,964, ,746,707 NET CURRENT ASSETS (474,176,709) 247,549,667 Debit balance in profit and loss account 560,808,021-92,870, ,209,915 Significant Accounting Policies 12 Notes to financial statements 13 The schedules referred to above form an integral part of the balance sheet As per our report attached For and on behalf of the Board of Directors For, Swamy & Ravi Chartered Accountants Firm Registration number : S Senthil Murugesan Director K.Ramesh Partner Membership No Bangalore June 15, 2010

2 Profit and loss account Year ended Year ended Schedule INCOME Net sales and services 229,185, ,657,750 Other income, net 9 5,058, ,168, ,244, ,825,993 EXPENDITURE Employee cost ,716, ,514,134 Depreciation 3 9,642,168 17,487,169 Other operating expenses ,587, ,646,296 1,013,946, ,647,599 PROFIT BEFORE TAXATION (779,701,968) 110,178,394 Provision for taxation 840,872 1,682,658 PROFIT FOR THE PERIOD (780,542,840) 108,495,736 Balance in the profit and loss account brought forward 219,734, ,239,083 AMOUNT TRANSFERRED TO BALANCE SHEET (560,808,021) 219,734,819 EARNINGS PER SHARE - EPS Equity Shares of par value Euro Each Basic and Diluted (in Rs.) (1,561,085.68) 216, Number of shares for calculating EPS Baisc and Diluted Significant Accounting Policies 12 Notes to Accounts 13 The schedules referred to above form an integral part of the profit and loss account As per our report attached For and on behalf of the Board of Directors For, Swamy & Ravi Chartered Accountants Firm Registration number : S Senthil Murugesan Director K.Ramesh Partner Membership No Bangalore June 15, 2010

3 Cash flow statement Year ended Year ended A. Cash flows from operating activities: Profit before tax (779,701,968) 110,178,394 Adjustments: Depreciation and amortization 9,642,168 17,487,169 Unrealised exchange differences - net 49,174,299 1,119,959 Dividend / interest - net (4,341,050) - (Increase)/ decrease debtors 621,086 (289,817) Loans and advances 334,052,615 (109,462,400) Other Current Liabilities 396,806,856 (7,427,737) Trade and other payables (6,588,739) (2,304,479) Net cash generated from operations (334,733) 9,301,089 Direct taxes paid (2,609,359) 989,136 Net cash generated by operating activities (2,944,092) 10,290,225 B. Cash flows from investing activities: Acquisition of property, fixed assets plant and equipment (including advances) - (7,034,108) Dividend / interest income received 4,341,050 - Net cash generated by / (used in) investing activities 4,341,050 (7,034,108) C. Cash flows from financing activities: Net cash generated by / (used in) financing activities - - Net (decrease) / increase in cash and cash equivalents during the period 1,396,958 3,256,117 Cash and cash equivalents at the beginning of the period 14,443,131 11,187,014 Cash and cash equivalents at the end of the period 15,840,089 14,443,131 As per our report attached For and on behalf of the Board of Directors For, Swamy & Ravi Chartered Accountants Firm Registration number : S Senthil Murugesan Director K.Ramesh Partner Membership No Bangalore June 15, 2010

4 SCHEDULE TO BALANCE SHEET As of As of SCHEDULE 1 SHARE CAPITAL Authorised capital 500 (2009: 500) Equity Shares of Euro Each 415, ,890 Issued, subscribed and paid-up capital 500 (2009: 500) Equity Shares of Euro Each (Of the above, 500 (2009: 500) Equity shares of Euro are held by New Logic AG, the holding company) 415, , , , , ,890 SCHEDULE 2 RESERVES AND SURPLUS Translation reserve Balance brought forward from previous year 44,059,203 41,714,269 Movement during the period 48,395,111 2,344,934 92,454,314 44,059,203 General reserve As at the beginning of the year - 111,239,086 Additions during the year - 108,495, ,734,822 Summary of reserves and surplus Balance brought forward from previous year 44,059, ,953,355 Movement during the period 48,395, ,840,670 92,454, ,794,025

5 SCHEDULE 3 PARTICULARS FIXED ASSETS As of April 1, 2009 Additions GROSS BLOCK ACCUMULATED DEPRECIATION AND AMORTISATION NET BLOCK Effect of Transalation* Deductions As of March 31, 2010 As of April 1, 2009 Depreciation and amortisation for the period Effect of Transalation* Deductions / adjustments As of March 31, 2010 As of March 31, 2010 As of March 31, 2009 (a) Tangible fixed assets Plant & machinery # 126,276,105 - (12,964,985) 154, ,156, ,305,598 4,333,408 (12,770,731) 154, ,713,750 1,442,845 5,970,507 Furniture, fixture and equipments 47,596,899 - (4,892,493) - 42,704,406 36,907,158 5,308,760 (4,307,559) - 37,908,359 4,796,047 10,689, ,873,004 - (17,857,478) 154, ,861, ,212,756 9,642,168 (17,078,290) 154, ,622,109 6,238,892 16,660,248 Previous year - 31 March ,694,133 7,034,108 (3,855,237) - 173,873, ,805,800 17,487,169 (5,080,213) - 157,212,756 16,660,248 * Represents translation of fixed assets of non-integral operations into Indian Rupee # Plant and machinery includes computers and computer software

6 SCHEDULE TO BALANCE SHEET (contd.) As of As of SCHEDULE 4 SUNDRY DEBTORS Other debts Considered good - 621, ,086 Less: Provision for doubtful debts ,086 SCHEDULE 5 CASH AND BANK BALANCES Balances with bank: In current account 15,786,646 14,365,283 Cash and cheques on hand 53,443 77,848 15,840,089 14,443,131 Maximum balance during the year Bank Austria USD /00 199,317,582 55,121,215

7 SCHEDULE TO BALANCE SHEET (contd.) As of As of SCHEDULE 6 LOANS AND ADVANCES Unsecured, considered good unless otherwise stated Advances recoverable in cash or in kind or for value to be received Considered good 7,599, ,640,333 - Others - 6,972,565 7,599, ,612,898 Advances from holding company 8,366, ,259 Advances dues from ultimate holding company 1,214,155 Advance income taxes 1,768,484-18,948, ,232,157 SCHEDULE 7 LIABILITIES Sundry creditors 1,182,697 2,993,467 Others 473,489,877 65,188,016 Advances dues to ultimate holding company - 9,684, ,672,574 77,865,717 SCHEDULE 8 PROVISIONS Employee retirement benefits 34,292,250 40,880,990 34,292,250 40,880,990

8 Schedules to profit and loss account Year ended Year ended SCHEDULE 9 OTHER INCOME, NET Interest on debt instruments and others 4,341,050 - Exchange differences, net 41, ,918 Miscellaneous income 676, ,585,325 5,058, ,168,243 SCHEDULE 10 EMPLOYEE COST Salaries, Wages and bonus including onsite staff expenses 871,202, ,685,611 Gratuity and pension 22,426,874 23,141,219 Workmen and Staff welfare 3,087,394 17,687, ,716, ,514,134 SCHEDULE 11 OTHER OPERATING EXPENSES Sub contracting / technical fees / third party application 997,028 11,945,955 Stores and spares 18, ,264 Rent 63,745,397 67,352,555 Travel 7,239,891 12,673,707 Rates and taxes 4,866,502 7,512,109 Repairs 2,804,686 2,908,975 Communication 3,442,755 4,779,674 Miscellaneous expenses 18,550,929 8,131,088 Power and fuel 675, ,665 Insurance 2,935,765 1,006,636 Auditors' remuneration 2,203,889 2,295,803 Advertisement and sales promotion 106, , ,587, ,646,296