Together good things happen - Airtel
Together good things happen - Airtel Together good things happen - Airtel
iii) The Group has acquired Property, Plant and Equipment by means of finance lease to the aggregate value of Rs 144,011 thousand (March 31, 2009 Rs 206,104 thousand). 18.The breakup of Net Deferred Tax Asset / (Liability) into major components of the respective balances is as follows: (Rs '000) Particulars As at As at Deferred Tax Assets Provision for doubtful debts/advances charged in financial statement but allowed as deduction under the Income Tax Act in future years March 31, 2010 March 31, 2009 (to the extend considered realisable) 5,122,527 4,402,962 Lease Rent Equilization charged in financial statement but allowed as deduction under the Income Tax Act in future years on actual payment basis 819,868 782,254 Foreign exchange fluctuation and MTM losses charged in financial statement but allowed as deduction under the Income Tax Act in future years (by way of depreciation and actual realisation, respectively) 878,179 3,800,510 Brought Forward Loss 2,015,590 1,471,136 Other expenses claimed as deduction in the financial statement but allowed as deduction under Income Tax Act in future year on actual payment (Net) 3,088,026 1,523,802 Gross Deferred Tax Assets 11,924,190 11,980,664 Deferred Tax Liabilities Depreciation claimed as deduction under Income Tax Act but chargeable in the financial statement in future years (15,971,087) (11,687,686) Gross Deferred Tax Liabilities (15,971,087) (11,687,686) Net Deferred Tax Assets / (Liability) (Net) (4,046,897) 292,978 The tax impact for the above purpose has been arrived at by applying a tax rate of 33.99% being the substantively enacted tax for Indian Companies under Income Tax Act, 1961 and applicable tax rate for subsidiary companies under other jurisdictions 19.Employee stock compensation (i) Pursuant to the shareholders’ resolutions dated February 27, 2001 and September 25, 2001, the Company introduced the “Bharti Tele-Ventures Employees’ Stock Option Plan” (hereinafter called “the Old Scheme”) under which the Company decided to grant, from time to time, options to the employees of the Company and its subsidiaries. The grant of options to the employees under the ESOP Scheme is on the basis of their performance and other eligibility criteria. (ii) On August 31, 2001 and September 28, 2001, the Company issued a total of 1,440,000 equity shares at a price of Rs 565 per equity share to the Trust. The Company issued bonus shares in the ratio of 10 equity shares for every one equity share held as of September 30, 2001, as a result of which the total number of shares allotted to the trust increased to 15,840,000 equity shares. (iii) Pursuant to the shareholders’ further resolution dated September 6, 2005, the Company announced a new Employee Stock Option Scheme (hereinafter called “the New Scheme”) under which the maximum quantum of options was determined at 9,367,276 options to be granted to employees from time to time on the basis of their performance and other eligibility criteria. (iv) All above options are planned to be settled in equity at the time of exercise and have maximum period of 7 years from the date of respective grants. The plans existing during the year are as follows: a) 2001 Plan under the Old Scheme The options under this plan have an exercise price of Rs 11.25 per share (post split, refer Note 20 on Schedule 22) and vest on a graded basis as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 20% period of 36 months: On completion of 24 months 30% On completion of 36 months 50% For options with a vesting On completion of 12 months 15% period of 42 months: On completion of 18 months 15% On completion of 30 months 30% On completion of 42 months 40% For options with a vesting On completion of 12 months 10% period of 48 months: On completion of 24 months 20% On completion of 36 months 30% On completion of 48 months 40% b) 2004 Plan under the Old Scheme. The options under this plan have an exercise price of Rs 35 per share (post split, refer Note 20 on Schedule 22) and vest on a graded basis as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 10% period of 48 months: On completion of 24 months 20% On completion of 36 months 30% On completion of 48 months 40% c) Super-pot Plan under the Old Scheme The options under this plan have an exercise price of Rs Nil per share and vest on a graded basis as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 30% period of 36 months: On completion of 24 months 30% On completion of 36 months 40%
d) 2006 Plan under the Old Scheme The options under this plan have an exercise price of Rs 5 per share (post split, refer Note 20 on Schedule 22) and vest on a graded basis from the effective date of grant as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 36 months 50% period of 48 months: On completion of 48 months 50% e) 2005 Plan under the New Scheme The options under this plan have an exercise price in the range of Rs 5 to Rs 461 per share (post split, refer Note 20 on Schedule 22) and vest on a graded basis from the effective date of grant as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 10% period of 48 months: On completion of 24 months 20% On completion of 36 months 30% On completion of 48 months 40% f) 2008 Plan and Annual Grant Plan (AGP) under the New Scheme The options under this plan have an exercise price in the range of Rs 295 to Rs 336.5 per share (post split, refer Note 20 on Schedule 22) and vest on a graded basis from the effective date of grant as follows: 2008 Plan AGP# Vesting period from Vesting Vesting the grant date schedule schedule For options with a On completion of 12 months 25% 33% vesting period of On completion of 24 months 35% 33% 36 months: On completion of 36 months 40% 33% # The above plan has been withdrawn w.e.f. January 1, 2010. g) Infratel Options Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 20% period of 60 months: On completion of 24 months 20% h) Indus Options Bharti Airtel Annual Report 2009-10 The options under this plan have an exercise price of Rs 340 per share and vest on a graded basis from the effective date of grant as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 15% period of 48 months: On completion of 24 months 20% On completion of 36 months 30% On completion of 48 months 35% On completion of 36 months 20% On completion of 48 months 20% On completion of 60 months 20% The options under this plan have an exercise price of Rs 249 per share and vest on a graded basis from the effective date of grant as follows: Vesting period from Vesting the grant date schedule For options with a vesting On completion of 12 months 15% period of 48 months: On completion of 24 months 20% On completion of 36 months 30% On completion of 48 months 35% (v) The information Concerning stock options granted, exercised, forfeited and outstanding at the year-end is as follows: (Shares in Thousands) As of March 31, 2010 As of March 31, 2009 Number of Weighted Weighted Number of Weighted Weighted stock options average average stock average average In (000) exercise remaining options exercise remaining price (Rs.) contractual In (000) price (Rs.) contractual life (in Years) life (in Years) 2001 Plan Number of shares under option: Outstanding at beginning of year 36 11.25 73 11.25 Granted - - - - Exercised* 4 11.25 23 11.25 Cancelled or expired 16 - 14 - Outstanding at the year end 16 11.25 0.00 to 2.25 36 11.25 0.00 to 3.25 Exercisable at end of year 16 11.25 36 11.25 Weighted average grant date fair value/exercise price per option for options granted during the year/period at less than market value - - - - - - 2004 Plan Number of shares under option: Outstanding at beginning of year 576 35.00 955 35.00 Granted - - - - Exercised* 406 35.00 379 35.00 153
- Page 103 and 104: Related Party Transaction for 2009-
- Page 105 and 106: Related Party Transaction for 2009-
- Page 107 and 108: Related Party Transaction for 2008-
- Page 109 and 110: Related Party Transaction for 2008-
- Page 111 and 112: 24.Operating lease - As a Lessee Th
- Page 113 and 114: (v) The Information concerning stoc
- Page 115 and 116: Particulars As at As at March 31, 2
- Page 117 and 118: Auditors' Report to The Board of Di
- Page 119 and 120: Bharti Airtel Annual Report 2009-10
- 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 129 and 130: Bharti Airtel Annual Report 2009-10
- Page 131 and 132: Bharti Airtel Annual Report 2009-10
- 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 147 and 148: Bharti Airtel Annual Report 2009-10
- Page 149 and 150: Related Party Transaction for 2009-
- Page 151 and 152: (Rs '000) Related Party Transaction
- Page 153: 17. Leases a) Operating Lease - As
- Page 157 and 158: Bharti Airtel Annual Report 2009-10
- 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
- Page 169: To Karvy Computershare Private Limi
- Page 172: Bharti Airtel Limited, Bharti Cresc
d) 2006 Plan under the Old Scheme<br />
The options under this plan have an exercise price of Rs 5<br />
per share (post split, refer Note 20 on Schedule 22) and<br />
vest on a graded basis from the effective date of grant as<br />
follows:<br />
Vesting period from Vesting<br />
the grant date schedule<br />
For options with a vesting On completion of 36 months 50%<br />
period of 48 months: On completion of 48 months 50%<br />
e) 2005 Plan under the New Scheme<br />
The options under this plan have an exercise price in the<br />
range of Rs 5 to Rs 461 per share (post split, refer Note 20<br />
on Schedule 22) and vest on a graded basis from the<br />
effective date of grant as follows:<br />
Vesting period from Vesting<br />
the grant date schedule<br />
For options with a vesting On completion of 12 months 10%<br />
period of 48 months: On completion of 24 months 20%<br />
On completion of 36 months 30%<br />
On completion of 48 months 40%<br />
f) 2008 Plan and Annual Grant Plan (AGP) under the<br />
New Scheme<br />
The options under this plan have an exercise price in the<br />
range of Rs 295 to Rs 336.5 per share (post split, refer Note<br />
20 on Schedule 22) and vest on a graded basis from the<br />
effective date of grant as follows:<br />
2008 Plan AGP#<br />
Vesting period from Vesting Vesting<br />
the grant date schedule schedule<br />
For options with a On completion of 12 months 25% 33%<br />
vesting period of On completion of 24 months 35% 33%<br />
36 months: On completion of 36 months 40% 33%<br />
# The above plan has been withdrawn w.e.f. January 1, 2010.<br />
g) Infratel Options<br />
Vesting period from Vesting<br />
the grant date schedule<br />
For options with a vesting On completion of 12 months 20%<br />
period of 60 months: On completion of 24 months 20%<br />
h) Indus Options<br />
Bharti <strong>Airtel</strong> Annual Report 2009-10<br />
The options under this plan have an exercise price of Rs<br />
340 per share and vest on a graded basis from the<br />
effective date of grant as follows:<br />
Vesting period from Vesting<br />
the grant date schedule<br />
For options with a vesting On completion of 12 months 15%<br />
period of 48 months: On completion of 24 months 20%<br />
On completion of 36 months 30%<br />
On completion of 48 months 35%<br />
On completion of 36 months 20%<br />
On completion of 48 months 20%<br />
On completion of 60 months 20%<br />
The options under this plan have an exercise price of Rs<br />
249 per share and vest on a graded basis from the<br />
effective date of grant as follows:<br />
Vesting period from Vesting<br />
the grant date schedule<br />
For options with a vesting On completion of 12 months 15%<br />
period of 48 months: On completion of 24 months 20%<br />
On completion of 36 months 30%<br />
On completion of 48 months 35%<br />
(v) The information Concerning stock options granted, exercised, forfeited and outstanding at the year-end is as follows:<br />
(Shares in Thousands) As of March 31, 2010<br />
As of March 31, 2009<br />
Number of Weighted Weighted Number of Weighted Weighted<br />
stock options average average stock average average<br />
In (000) exercise remaining options exercise remaining<br />
price (Rs.) contractual In (000) price (Rs.) contractual<br />
life (in Years) life (in Years)<br />
2001 Plan<br />
Number of shares under option:<br />
Outstanding at beginning of year 36 11.25 73 11.25<br />
Granted - - - -<br />
Exercised* 4 11.25 23 11.25<br />
Cancelled or expired 16 - 14 -<br />
Outstanding at the year end 16 11.25 0.00 to 2.25 36 11.25 0.00 to 3.25<br />
Exercisable at end of year 16 11.25 36 11.25<br />
Weighted average grant date fair value/exercise price per<br />
option for options granted during the year/period<br />
at less than market value - - - - - -<br />
2004 Plan<br />
Number of shares under option:<br />
Outstanding at beginning of year 576 35.00 955 35.00<br />
Granted - - - -<br />
Exercised* 406 35.00 379 35.00<br />
153
Change language