Together good things happen - Airtel

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I Registration Details Registration No. State Code 70609 Balance Sheet Date 31-Mar-10 II Capital raised during the year (Amount in Rs thousands) Public Issue Rights Issue Nil Nil Bonus Issue Private Placement Nil Nil III Position of mobilisation and deployment of funds (Amount in Rs thousands) Total Liabilities Total Assets 417,793,542 417,793,542 Sources of funds Paid up Capital Reserves & Surplus 18,987,650 346,523,215 Secured Loans Unsecured Loans 394,296 49,994,936 Share Application Money Employee Stock Options Pending Allotment Outstanding Nil 1,860,902 Application of funds Net Fixed Assets Investments 296,197,000 157,733,191 Net Current Assets Micscellaneous Expenditure (36,136,649) Nil Deferred Tax Asset (Net) (32,543) IV Performance of the Company (Amount in Rs thousands) Turnover Total Expenditure 356,095,407 250,000,216 Profit / (Loss) Before Tax Profit / (Loss) After Tax 106,992,486 94,261,547 Earning per Share in Rs Dividend Rate 24.83 20% V Generic names of three principal products / services of the company (as per monetary terms) Item code No. (ITC code) Not applicable Product Description Basic and cellular telephone services, broadband and long distance communication services On behalf of the Board Sunil Bharti Mittal Manoj Kohli Chairman and Managing Director CEO (International) & Joint Managing Director Place : New Delhi Sanjay Kapoor Vijaya Sampath Srikanth Balachander Date: April 28, 2010 CEO (India & South Asia) Group General Counsel & Chief Financial Officer Company Secretary 55
Auditors' Report to The Board of Directors of Bharti Airtel Limited 1. We have audited the attached Consolidated Balance Sheet of Bharti Airtel Limited (‘the Company’) and its subsidiaries, joint ventures and associates [together referred to as the ‘the Group’ as described in Note 2 on Schedule 21] as at March 31, 2010 and also the Consolidated Profit and Loss Account and the Consolidated Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Group’s management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 3. We report that the consolidated financial statements have been prepared by the Group in accordance with the requirements of Accounting Standards (AS) 21, Consolidated Financial Statements, Accounting Standard (AS) 23, Accounting for investment in associates and Accounting Standard (AS) 27, Financial Reporting of Interests in Joint Ventures in Consolidated Financial Statement as notified pursuant to Companies (Accounting Standards) Rules, 2006 (as amended). In respect of the consolidated financial statements, we did not audit the financial statements of a joint venture company and a subsidiary, included herein, the Company’s share of total assets as at March 31, 2010 of Rs 59,958,606 thousands, revenue (including recovery of power and fuel charges) and net profit for the year then ended of Rs 37,246,412 thousands and Rs 86,933 thousands, respectively, on the basis of amounts reflected in the audited financial statement of these companies and before elimination of inter-company transactions on consolidation. These financial statements and other financial information have been audited by other auditors whose reports have been furnished to us, and our opinion is based solely on the report of other auditors. 4. Based on our audit and on consideration of the reports of the other auditors on the separate financial statements and on the other financial information of the components and to the best of our information and according to the explanations given to us, we are of the opinion that the attached consolidated financial statements give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the consolidated balance sheet, of the state of affairs of the Group as at March 31, 2010; (b) in the case of the consolidated profit and loss account, of the profit for the year ended on that date; and (c) in the case of the consolidated cash flow statement, of the cash flows for the year ended on that date. For S.R. BATLIBOI & ASSOCIATES Firm Registration No. 101049W Chartered Accountants per Prashant Singhal Partner Membership No.93283 Place: Gurgaon Date: April 28, 2010 Bharti Airtel Annual Report 2009-10 115
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Together good things happen... Bhar
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Table of contents 1 2 3 4 5 6 7 8 9
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Corporate history and Top 30 shareh
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Awards & honours With a belief that
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Chairman’s message Closer home, w
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To be provided Akhil Gupta Chua Soc
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Pulak Chandan Prasad Rakesh Bharti
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Bharti Airtel Annual Report 2009-10
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CEO (India & South Asia)’s Airtel
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Airtel Experience Last year was tru
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Together good things happen custome
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Together good things happen Bharti
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Taking everybody along Bharti Airte
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Photos by Amit Bhatia, Legal & Regu
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exemption to the Company from attac
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In July 2009, the Company has sub-d
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egarding compliance of conditions o
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Information regarding the Employees
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• Restriction on Sale of Equity O
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FINANCIAL PERFORMANCE (Amount in Rs
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INTERNAL CONTROL SYSTEMS The Compan
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consent. The appointments of such d
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g) Tenure of independent directors
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directors will be entitled to commi
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- Matters required to be included i
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Key Responsibilities Key responsibi
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Special resolutions passed at the l
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MEANS OF COMMUNICATION The quarterl
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Distribution of shareholding By num
Page 65 and 66: The Board of directors, Bharti Airt
Page 67 and 68: Annexure referred to in paragraph 4
Page 69 and 70: (x) The Company has no accumulated
Page 71 and 72: Bharti Airtel Annual Report 2009-10
Page 73 and 74: Particulars C. Cash flow from finan
Page 75 and 76: Particulars SCHEDULE : 3 SECURED LO
Page 77 and 78: Particulars SCHEDULE : 6 INVESTMENT
Page 79 and 80: Particulars SCHEDULE : 9 CASH AND B
Page 83 and 84: SCHEDULE: 21 STATEMENT OF SIGNIFICA
Page 85 and 86: Forward Exchange Contracts covered
Page 87 and 88: Minimum Alternative Tax (MAT) credi
Page 89 and 90: Unless otherwise stated below, the
Page 91 and 92: 6. Employee benefits a) During the
Page 93 and 94: e) The estimates of future salary i
Page 95 and 96: epayable on disconnection, net of o
Page 97 and 98: 2008-09 Particulars Year ended Purc
Page 99 and 100: ) Details of trade investments purc
Page 103 and 104: Related Party Transaction for 2009-
Page 111 and 112: 24.Operating lease - As a Lessee Th
Page 113 and 114: (v) The Information concerning stoc
Page 115: Particulars As at As at March 31, 2
Page 121 and 122: Particulars C. Cash flow from finan
Page 123 and 124: Particulars SCHEDULE : 2 (Cont.) Pr
Page 125 and 126: Particulars SCHEDULE : 6 INVESTMENT
Page 127 and 128: Particulars SCHEDULE : 12 CURRENT L
Page 133 and 134: ecognised over the period of servic
Page 135 and 136: Standard 15 (revised), “Employee
Page 137 and 138: SCHEDULE: 22 NOTES TO THE FINANCIAL
Page 139 and 140: obligations fully due to certain no
Page 141 and 142: c) Reconciliation of opening and cl
Page 143 and 144: Joint Venture Entities: b) The Comp
Page 145 and 146: 13. Particulars of securities charg
Page 151 and 152: (Rs '000) Related Party Transaction
Page 153 and 154: 17. Leases a) Operating Lease - As
Page 155 and 156: d) 2006 Plan under the Old Scheme T
Page 159 and 160: 24. As at March 31, 2010 the accumu
Page 161 and 162: Notice is hereby given that the fif
Page 163 and 164: EXPLANATORY STATEMENT (Under sectio
Page 165: Mr. Rakesh Bharti Mittal Date of bi
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To Karvy Computershare Private Limi
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Bharti Airtel Limited, Bharti Cresc
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