Together good things happen - Airtel

Particulars
As at As at
March 31, 2010 March 31, 2009
Basic and Diluted Earnings per Share :
(Post Split) (Post Split)
Nominal value of equity shares (Rs)
Profit attributable to equity
5 5
shareholders(Rs '000) (A)
Weighted average number of equity
94,261,547 77,438,385
shares outstanding during the year (B) 3,796,858,204 3,796,210,078
Basic earnings per Share (Rs) (A / B) 24.826 20.399
Dilutive effect on profit (Rs '000) (C )*
Profit attributable to equity
shareholders for computing Diluted
(3,172) 2,097
EPS (Rs'000) (D)=(A+C)
Dilutive effect on weighted
average number of equity shares
94,258,375 77,440,482
outstanding during the year (E)*
Weighted Average number of Equity
shares and Equity Equivalent shares for
1,071,751 1,130,094
computing Diluted EPS (F)=(B+E) 3,797,929,955 3,797,340,172
Diluted earnings per share (Rs) (D/ F) 24.818 20.393
*Diluted effect on weighted average number of equity shares and profit
attributable is on account of Foreign Currency Convertible Bonds and
Employee Stock Option Plan (ESOP)
29.Forward Contracts & Derivative Instruments
The Company’s activities expose it to a variety of financial
risks, including the effects of changes in foreign currency
exchange rates and interest rates. The Company uses
derivative financial instruments such as foreign exchange
contracts, Option contracts and interest rate swaps to
manage its exposures to interest rate and foreign
exchange fluctuations
The following table details the status of the Company’s
exposure as on March 31, 2010:
Sr Particulars Notional Value Notional Value
No (March 31, 2010) (March 31, 2009)
A For Loan related exposures *
a) Forwards 25,777,373 58,581,419
b) Options 15,985,406 16,087,384
c) Interest Rate Swaps 10,965,195 12,572,404
Total 52,727,974 87,241,206
B For Trade related exposures *
a) Forwards 1,467,050 5,347,203
b) Options 1,986,160 534,975
Total 3,453,210 5,882,178
C Unhedged foreign currency borrowing 22,127,125 34,834,314
D Unhedged foreign currency payables 17,663,020 28,273,925
E Unhedged foreign currency receivables 742,125 -
*All derivatives are taken for hedging purposes only and trade related
exposure includes hedges taken for forecasted receivables
Bharti Airtel Annual Report 2009-10
The Company has accounted for derivatives, which are
covered under the Announcement issued by the ICAI, on
marked-to-market basis and has recognized reversal of
losses of Rs 42,467 thousand for the year ended March 31,
2010 [recorded reversals of losses for earlier period of
Rs 1,835,399 thousand for the year ended March 31, 2009
(including reversal of losses recognised in earlier periods
Rs 1,230,080 thousand towards embedded derivatives)]
30.The Board of directors in its meeting held on April 29, 2009
had approved sub-division (share split) of existing equity
shares of Rs 10 each into 2 equity shares of Rs 5 each, which
was duly approved by postal ballot by the shareholders of
the Company on July 11, 2009
31.a) The Board of directors in its meeting held on April 29,
2009 had proposed dividend of Rs 2 per share for the
financial year 2008-09, which was duly approved by the
shareholders of the Company in the annual general
meeting held on August 21, 2009. Accordingly, dividend
and tax thereon on shares issued from April 1, 2009 to
August 21, 2009 (record date for payment of dividend),
has been accounted for
b) Net Dividend remitted in foreign exchange :
Particulars For the year For the year
ended March ended March
31, 2010 31, 2009
Number of non-resident shareholders 8 NA
Number of equity shares held on which
dividend was due (in ‘000) 424,254 NA
Amount remitted (Rs in ‘000) 848,508 NA
Amount remitted (USD in ‘000) 17,423 NA
Dividend of Rs 2 per share (Face value per share Rs 10 ) was declared for the
year 2008-09
32.The Company has undertaken to provide financial
support, to its subsidiaries Bharti Airtel Services Limited,
Bharti Airtel (USA) Limited, Bharti Airtel (Canada) Limited,
Bharti Airtel Hongkong Limited, Bharti Infratel Ventures
Limited, Bharti Telemedia Limited, Bharti Airtel
(Singapore) Private Limited, Bharti Airtel Holdings
(Singapore) Pte Limited, Bharti Airtel Lanka (Pvt) Limited
and Bharti Airtel (UK) Limited
33.The Board of directors recommended a final dividend of
Re 1 per equity share of Rs 5 each (20% of face value) for
financial year 2009-10. The payment is subject to the approval
of the shareholders in the ensuing Annual General Meeting of
the Company
34.Previous year figures have been regrouped / reclassified
where necessary to conform to current year’s
classification
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