TATA CONSULTANCY SERVICES LIMITED UNAUDITED CONDENSED BALANCE SHEET UNDER INDIAN GAAP (EXCLUDING SUBSIDIARIES) AS AT SEPTEMBER 30,2004

Transcription

1 UNAUDITED CONDENSED BALANCE SHEET UNDER INDIAN GAAP (EXCLUDING SUBSIDIARIES) AS AT SEPTEMBER 30,2004 Schedule SOURCES OF FUNDS 1 SHAREHOLDERS' FUND (a) Share Capital A (b) Reserves and Surplus B 2, LOAN FUNDS (a) Secured C (b) Unsecured D DEFERRED TAX LIABILITY, (NET) E TOTAL FUNDS EMPLOYED 3, APPLICATION OF FUNDS 5 FIXED ASSETS F (a) Gross block (b) Less :- Accumulated depreciation (c) Net block (d) Capital work-in-progress INVESTMENTS G 1, CURRENT ASSETS, LOANS AND ADVANCES (a) Unbilled Revenues (b) Sundry Debtors H 1, (c) Cash and Bank Balances I (d) Loans and Advances J CURRENT LIABILITIES AND PROVISIONS 2, (a) Current Liabilities K (b) Provisions L , NET CURRENT ASSETS [ (7) less (8) ] 1, (219.88) TOTAL ASSETS (NET) 3,

2 UNAUDITED CONDENSED PROFIT AND LOSS ACCOUNT UNDER INDIAN GAAP (EXCLUDING SUBSIDIARIES) FOR THE PERIOD FROM APRIL 1, 2004 TO SEPTEMBER 30,2004 Schedules For the period ended September 30, 2004 Rupees in Crores INCOME 1 Consultancy services 3, Software licences Other income M , EXPENDITURE 4 Employee costs N Operation and Other expenses O 1, , PROFIT BEFORE INTEREST, DEPRECIATION, EXCEPTIONAL ITEMS AND TAXES 1, Interest expense Depreciation F PROFIT BEFORE EXCEPTIONAL ITEMS AND TAXES 1, Tax on transfer of overseas subsidiary and branches (9.82) 9 Charge on account of Employee Stock Purchase Scheme (186.65) PROFIT BEFORE TAXES PROVISION FOR TAXES (a) Current tax expense (125.94) (b) Deferred tax expense (18.13) NET PROFIT AFTER TAX Balance brought forward 0.64 AMOUNT AVAILABLE FOR APPROPRIATIONS APPROPRIATIONS (a) Interim dividend (b) Tax on dividend BALANCE CARRIED TO BALANCE SHEET Earnings per share - excluding exceptional items including exceptional items 16.51

3 SCHEDULE 'A' SHARE CAPITAL Authorised 60,00,00,000 equity shares of Re.1 each (March 31,2004 : 4,00,00,000 equity shares of Rs.10 each) Issued, Subscribed and Paid up 48,01,02,429 equity shares of Re.1 each (March 31,2004 : 3,64,40,002 equity shares of Re.10 each) Notes: a) Equity Shares of Rs.10 each have been sub-divided into ten equity shares of Re. 1 each pursuant to the resolution passed by the shareholders at the Annual General Meeting on May 5, b) The Authorised Share Capital was increased from 40,00,00,000 to 60,00,00,000 equity shares of Re.1 each pursuant to a shareholders' resolution passed at the Annual General Meeting on May 5, c) The Company allotted 91,100,009 equity shares as fully paid up bonus shares, pursuant to the shareholders' resolution passed at the Annual General Meeting on May 5, d) On August 19, 2004, the Company issued 2,27,75,000 equity shares of Re. 1 each under an Initial Public Offer. e) On September 29, 2004, the Company issued 18,27,400 equity shares of Re.1 each under an Employee Share Purchase Scheme

4 SCHEDULE 'B' RESERVE AND SURPLUS (a) (b) Securities Premium Account (i) Premium on issue of equity shares 2, (ii) Less: Share issue expenses (48.30) - 2, General Reserve (i) Opening balance (ii) Transferred from profit and loss account (iii) Less Bonus shares issued (9.11) (c) Capital Suspense Account (d) Balance in Profit and Loss Account Note: Premium of Rs. 849 and Rs. 1, per share on issue of 2,27,75,000 equity shares under an Initial Public Offer and 18,27,400 equity shares under Employee Share Purchase Scheme, respectively. 2,

5 SCHEDULE 'C' LOANS - SECURED Pre/Post Shipment Loans from banks Note: The Pre / post shipment loans are secured by pari-passu hypothecation of foreign book debts. SCHEDULE 'D' LOANS - UNSECURED SHORT TERM LOANS (a) Inter-Corporate deposits from Tata Sons Limited (b) From Others (Includes Rs crores repayable within one year)

6 SCHEDULE 'E' DEFERRED TAX LIABILITY, (NET) Deferred Tax Liabilities (i) Foreign branch profit tax (ii) Others Total (A) Deferred Tax Assets (i) Provision for Leave Salary (4.02) - (ii) Others (0.65) - Total (B) (4.67) - (A) less (B)

7 SCHEDULE 'F' FIXED ASSETS (Rupees in Crores) Description Gross Block as at April 1, 2004 Additions Deletions Gross Block as at Sep 30, 2004 Accumulated Depreciation as at April 1, 2004 Depreciation for the period Accumulated Depreciation as at Sep 30, 2004 Net book value as at Sep 30, 2004 Net book value as at March 31, 2004 a. Freehold Land b. Leasehold Land (0.25) (0.43) (0.68) c. Freehold Building (0.70) (13.00) (13.70) d. Leasehold Building (0.49) (0.49) e. Computer Equipment (0.03) (22.58) (22.58) f. Motor Cars (0.76) (4.15) (4.15) g. Office Equipment (0.22) (8.41) (8.41) h. Electrical Installations (0.07) (7.29) (7.29) i. Furniture and Fixtures (4.60) (4.60) - - Total (1.08) (0.95) (60.95) (61.90) Capital Work In Progress (including Capital Advance Rs Crore) Grand Total Previous year , (0.11) (0.84) (0.95) Notes: 1 Additions include fixed assets of Rs crores and Capital work-in-progress includes Rs crores obtained on acquisition of the TCS Division. 2 Freehold buildings include Rs.0.02 crores (March 31, 2004 Rs.0.02 crores) being value of investment in shares of Nirmal Commercial Ltd. and Powai Developers in Mumbai and Sanand Members Association in Ahmedabad. 3 Freehold buildings include Rs.2.65 crores (March 31, Rs.2.65 crores) being cost of share in Co - operative Housing Societies and Limited Companies.

8 SCHEDULE 'G' In Numbers Currency Face Value TRADE INVESTMENTS (at cost) Subsidiary Companies Fully paid Equity Shares (Quoted) 77,44,961 INR 10 CMC Ltd Fully paid Equity Shares (Unquoted) 5,54,23,845 Peso 1 # TCS Iberoamerica SA ,75,300 INR 10 # AP Online Limited - - 1,300 Euro 325 # Tata Consultancy Services, Belgium S.A NLG 1000 # Tata Consultancy Services, Netherlands B.V ,000 SEK 100 # Tata Consultancy Services, Sverige AB DM - # Tata Consultancy Services, Deutschland GmbH ,500 FER 100 # Tata Consultancy Services, France S.A ,000 USD 10 # Tata America International Corporation ,25,000 SGD 1 # Tata Consultancy Services, Asia Pacific Pte Limited ,00,000 INR 10 # Airline Financial Support Services India Limited ,00,002 INR 10 # Aviation Software Development Consultancy India Limited ,23,24,035 INR 10 Phoenix Global Solutions (India) Private Limited (1,23,24,035 acquired during the year) 10,08,500 INR 10 WTI Advanced Technology Limited ( refer note 3 below) (5,03,500 acquired during the year) 23,75,000 USD # eaf Pte Ltd ( 3,75,000 shares acquired during the year as sweat equity ) Others INR WTI Advanced Technology Limited ZAR 1 # Conscripti (Pty) Ltd ,63,865 USD # Yodlee, Inc. - - INR INR INR OTHER INVESTMENTS Investment in Mutual Funds (Unquoted) Standard Chartered Mutual Funds- GSSG GSSIF- Investment Plan - Growth option Franklin Templeton Investment - India Income builder Plan A Tata Mutual Fund - TLSD Tata Liquid Super High Investment Fund Less: Provision for Diminution in Value of Investments (1.70) - 1, # - Investments of TCS Division transferred with effect from April 1, Notes : (1) Book value of quoted investment Book value of unquoted investments (net of provisions) Market value of quoted investment (2) All investments other than in mutual funds are long-term. (3) (4) During the period, the Company acquired an additional equity interest in WTI Advanced Technology Limited ("WTI"). Consequently, WTI became a subsidiary company. 2,75,00,000 shares in Intelenet Global Services Limited held by the TCS Division were sold for Rs. 161 crores prior to the effective date of Transfer.

9 SCHEDULE 'H' SUNDRY DEBTORS (a) (b) Over six months (unsecured) (i) Considered good Others (unsecured) (i) Considered good 1, (ii) Considered doubtful , Less: Provision for doubtful debts (1.96) - 1,

10 SCHEDULE 'I' CASH AND BANK BALANCES (a) Cash and cheques on hand (b) Remittances in transit (c) Bank Balances (i) with Scheduled Banks (1) In Current Account (2) Deposit account (Under lien to Customs Authority) (ii) with Foreign Banks - in current account

11 SCHEDULE 'J' LOANS AND ADVANCES (Unsecured) Considered good (i) Employee loans (ii) Subsidiary Companies (iii) Advances recoverable in cash or kind or for value to be received (iv) Advance tax (including refunds receivable) Note : Loans and advances in the nature of loans to subsidiary companies : TCS Iberoamerica SA Tata Consultancy Services De Espana, SA SCHEDULE 'K' CURRENT LIABILITIES (a) Sundry Creditors (b) Subsidiary companies (c) Advances from customers (d) Advance billing and deferred revenues (e) Interest accrued but not due (f) Equity Share Application Monies Refundable

12 SCHEDULE 'L' PROVISIONS (a) Current taxes (b) Contingencies (c) Employee retirement benefits (d) Proposed Dividend (e) Proposed Interim Dividend (f) Tax on Dividends

13 SCHEDULE 'M' For the period ended September 30, 2004 Rupees in Crores OTHER INCOME (a) Interest (includes Rs.0.12 crores from a subsidiary) 4.24 (Tax deducted at source Rs.Nil, previous year Rs.Nil) (b) Dividend from a subsidiary company 4.26 (c) Dividend from other long-term investments 6.51 (d) Dividend from mutual funds 0.32 (e) Miscellaneous income (f) Profit on sale of fixed assets 0.21 (g) Profit on redemption of mutual funds

14 SCHEDULE 'N' For the period ended September 30, 2004 Rupees in Crores EMPLOYEE COSTS (a) Salaries, Wages and Bonus (b) Contribution to - (i) Provident Fund (ii) Superannuation Scheme (iii) Employees State Insurance Scheme 0.06 (iv) Group Gratuity (c) Staff welfare expenses

15 SCHEDULE 'O' For the period ended September 30, 2004 Rupees in Crores OPERATION AND OTHER EXPENSES (a) Overseas business expenses (b) Services rendered by business associates and others (c) Product/software expenses (d) Communication (e) Travelling and conveyance (f) Rent (g) Legal and professional (h) Repairs and maintenance (i) Electricity (j) Bad debts 5.05 (k) Recruitment and training expenses (l) Diminution in value of long-term investments 1.68 (m) Commission and brokerage 2.29 (n) Motor car expenses (o) Brand equity contribution to Tata Sons Limited 9.50 (p) Provision for doubtful debts 1.96 (q) Printing and stationery 6.06 (r) Insurance 4.77 (s) Advertisement and publicity 4.49 (t) Freight and carriage 3.22 (u) Rates and taxes 3.98 (v) Entertainment 1.96 (w) Loss on sale of fixed assets 0.33 (x) Exchange loss (net) (y) Other expenses , Note : Repairs and maintenance includes: Buildings Office and computer equipment 12.92