Together good things happen - Airtel
Together good things happen - Airtel Together good things happen - Airtel
Particulars Schedule As at As at No. March 31, 2010 March 31, 2009 SOURCES OF FUNDS Shareholders' Funds Share Capital 1 18,987,650 18,982,398 Share Application Money Pending Allotment - 2,933 Employee Stock Options Outstanding 4,261,794 2,901,620 Less: Deferred Stock Compensation 1,642,167 2,619,627 1,495,823 1,405,797 (Refer Note 22 on Schedule 21 and Note 19 on Schedule 22) Reserves and Surplus 2 377,181,854 270,888,116 Loan Funds Secured Loans 3 49,584,322 14,287,304 Unsecured Loans 4 53,297,098 120,884,165 Deferred Tax Liability (Net) (Refer Note 14 on Schedule 21 and Note 18 on Schedule 22) 4,046,897 - Minority Interest 28,555,329 12,297,540 (Refer Note 2 on Schedule 21 and Note 9 on Schedule 22) Total 534,272,777 438,748,253 APPLICATION OF FUNDS Fixed Assets Gross Block 5 721,163,372 586,616,050 Less: Accumulated Depreciation/ Amortisation 212,672,788 147,129,637 Net Block 508,490,584 439,486,413 Capital Work in Progress (Including Capital Advances) 24,359,372 41,436,526 532,849,956 480,922,939 Investments 6 51,620,710 23,489,524 Deferred Tax Asset (Net) - 292,978 (Refer Note 14 on Schedule 21 and Note 18 on Schedule 22) Current Assets , Loans and Advances Inventory 7 483,866 962,676 Sundry Debtors 8 31,824,837 28,997,771 Cash and Bank Balances 9 25,786,322 27,659,715 Other Current Assets 10 732,268 1,552,235 Loans and Advances 11 55,800,023 60,534,722 114,627,316 119,707,119 Less: Current Liabilities and Provisions 12 Current Liabilities 151,692,262 168,621,781 Provisions 13,132,943 17,043,399 164,825,205 185,665,180 Net Current Assets (50,197,889) (65,958,061) Miscellaneous Expenditure 13 (To the extent not written off or adjusted) - 873 Total 534,272,777 438,748,253 Statement of Significant Accounting Policies 21 Notes to the Financial Statements 22 (Rs '000) As per our report of even date The Schedules referred to above and Notes to the Financial Statements form an integral part of the Balance Sheet For S.R. BATLIBOI & ASSOCIATES For and on behalf of the Board of Directors of Bharti Airtel Limited Firm Registration No: 101049W Chartered Accountants per Prashant Singhal Sunil Bharti Mittal Manoj Kohli Partner Chairman and Managing Director CEO (International) & Membership No: 93283 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
Bharti Airtel Annual Report 2009-10 (Rs '000) Particulars Schedule For the year ended For the year ended No. March 31, 2010 March 31, 2009 INCOME Service Revenue 417,294,885 372,328,114 Sale of Goods 999,731 1,192,696 418,294,616 373,520,810 EXPENDITURE Access Charges 44,806,463 52,908,719 Network Operating 14 89,123,912 62,465,716 Cost of Goods Sold 15 858,915 998,537 Personnel 16 17,534,371 17,022,941 Sales and Marketing 17 27,896,807 24,473,799 Administrative and Other 18 28,725,570 24,522,970 208,946,038 182,392,682 Profit before Licence Fee, Other Income, Finance Expenses (Net),Depreciation, Amortisation, Share of Loss in Associates, Charity and Donation and Taxation 209,348,578 191,128,128 Licence fee and Spectrum charges (revenue share) 40,875,218 38,269,861 Profit before Other Income, Finance Expenses (Net), Depreciation Amortisation, Charity and Donation, Share of Loss in Associates, and Taxation 168,473,360 152,858,267 Other Income 19 1,224,744 1,523,814 Finance Expense (Net) 20 (5,029,953) 18,612,828 Depreciation 64,337,218 49,051,901 Less : Amount withdrawn from Reserve for Business Restructuring as per Scheme of Arrangement (2,343,123) 61,994,095 (2,324,209) 46,727,692 Amortisation 3,549,989 2,911,290 Charity and Donation (Rs 30,000 thousand paid to Satya Electoral Trust for political purposes (March 31, 2009 Rs Nil) ) 181,324 220,141 Loss of Assosiates 48,283 - Profit before Tax 108,954,366 85,910,130 MAT credit (11,320,155) (2,317,983) [Includes Rs 886,285 thousand for earlier years (March 31, 2009 Rs 1,364,058 thousand)] Tax Expenses - Current Tax [Includes Rs 1,033,095 thousand for earlier years 22,317,715 10,400,288 (March 31, 2009 Rs Nil)] - Deferred Tax 4,341,623 (3,022,126) (Refer Note 14 on Schedule 21 and Note 18 on Schedule 22) - Fringe Benefit Tax - 408,131 Profit after Tax before Minority Interest 93,615,183 80,441,820 Minority Interest (Refer Note 2 on Schedule 21 and Note 9 on Schedule 22) 1,983,899 1,852,275 Profit for the year 91,631,284 78,589,545 Transferred from Debenture Redemption Reserve 38,160 4,411 Transferred to General Reserve 7,100,000 6,000,000 Dividend Proposed 3,797,530 3,796,480 Dividend Paid 362 - Tax on Dividend Proposed / Paid 645,452 645,212 Profit after Appropriation 80,126,100 68,152,264 Profit brought forward (Refer Schedule 2) 188,310,180 120,157,916 Profit carried to Balance Sheet 268,436,280 188,310,180 Earnings per share in Rs (Basic) 24.13 20.70 Earnings per share in Rs (Diluted) 24.13 20.70 (Refer Note 19 on Schedule 21 and Note 20 on Schedule 22) Nominal value of share in Rs 5 5 Statement of Significant Accounting Policies 21 Notes to the Financial Statements 22 As per our report of even date The Schedules referred to above and Notes to the Financial Statements form an integral part of the Profit and Loss Account For S.R. BATLIBOI & ASSOCIATES For and on behalf of the Board of Directors of Bharti Airtel Limited Firm Registration No: 101049W Chartered Accountants per Prashant Singhal Sunil Bharti Mittal Manoj Kohli Partner Chairman and Managing Director CEO (International) & Membership No: 93283 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 117
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Particulars Schedule<br />
As at As at<br />
No. March 31, 2010 March 31, 2009<br />
SOURCES OF FUNDS<br />
Shareholders' Funds<br />
Share Capital 1 18,987,650 18,982,398<br />
Share Application Money Pending Allotment - 2,933<br />
Employee Stock Options Outstanding 4,261,794 2,901,620<br />
Less: Deferred Stock Compensation 1,642,167 2,619,627 1,495,823 1,405,797<br />
(Refer Note 22 on Schedule 21 and Note 19 on<br />
Schedule 22)<br />
Reserves and Surplus 2 377,181,854 270,888,116<br />
Loan Funds<br />
Secured Loans 3 49,584,322 14,287,304<br />
Unsecured Loans 4 53,297,098 120,884,165<br />
Deferred Tax Liability (Net)<br />
(Refer Note 14 on Schedule 21 and Note 18 on Schedule 22) 4,046,897 -<br />
Minority Interest 28,555,329 12,297,540<br />
(Refer Note 2 on Schedule 21 and Note 9 on Schedule 22)<br />
Total 534,272,777 438,748,253<br />
APPLICATION OF FUNDS<br />
Fixed Assets<br />
Gross Block 5 721,163,372 586,616,050<br />
Less: Accumulated Depreciation/ Amortisation 212,672,788 147,129,637<br />
Net Block 508,490,584 439,486,413<br />
Capital Work in Progress (Including Capital Advances) 24,359,372 41,436,526<br />
532,849,956 480,922,939<br />
Investments 6 51,620,710 23,489,524<br />
Deferred Tax Asset (Net) - 292,978<br />
(Refer Note 14 on Schedule 21 and Note 18 on Schedule 22)<br />
Current Assets , Loans and Advances<br />
Inventory 7 483,866 962,676<br />
Sundry Debtors 8 31,824,837 28,997,771<br />
Cash and Bank Balances 9 25,786,322 27,659,715<br />
Other Current Assets 10 732,268 1,552,235<br />
Loans and Advances 11 55,800,023 60,534,722<br />
114,627,316 119,707,119<br />
Less: Current Liabilities and Provisions 12<br />
Current Liabilities 151,692,262 168,621,781<br />
Provisions 13,132,943 17,043,399<br />
164,825,205 185,665,180<br />
Net Current Assets (50,197,889) (65,958,061)<br />
Miscellaneous Expenditure 13<br />
(To the extent not written off or adjusted) - 873<br />
Total 534,272,777 438,748,253<br />
Statement of Significant Accounting Policies 21<br />
Notes to the Financial Statements 22<br />
(Rs '000)<br />
As per our report of even date The Schedules referred to above and Notes to the Financial Statements<br />
form an integral part of the Balance Sheet<br />
For S.R. BATLIBOI & ASSOCIATES For and on behalf of the Board of Directors of Bharti <strong>Airtel</strong> Limited<br />
Firm Registration No: 101049W<br />
Chartered Accountants<br />
per Prashant Singhal Sunil Bharti Mittal Manoj Kohli<br />
Partner Chairman and Managing Director CEO (International) &<br />
Membership No: 93283 Joint Managing Director<br />
Place : New Delhi Sanjay Kapoor Vijaya Sampath Srikanth Balachander<br />
Date: April 28, 2010 CEO (India & South Asia) Group General Counsel & Chief Financial Officer<br />
Company Secretary
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