Together good things happen - Airtel

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(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 exercise remaining options exercise remaining price (Rs.) contractual price (Rs.) contractual life (in Years) life (in Years) Cancelled or expired - - - - Outstanding at the year end 170 35.00 0.76 to 1.25 576 35.00 1.76 to 2.25 Exercisable at end of year 170 35.00 576 35.00 Weighted average grant date fair value/exercise price per option for options granted during the year/period at less than market value - - - - - - Superpot Plan Number of shares under option: Outstanding at beginning of year 12 - 12 - Granted - - - - Exercised* - - - - Cancelled or expired - - - - Outstanding at the year end 12 - 1.25 12 - 2.25 Exercisable at end of year 12 - 12 - Weighted average grant date fair value/exercise price per value for options granted during the year/period at less than market value - - - - - - 2006 Plan Number of shares under option: Outstanding at beginning of year 2,410 5.00 2,785 5.00 Granted 454 5.00 261 5.00 Exercised* 640 5.00 36 5.00 Cancelled or expired 128 - 600 - Outstanding at the year end 2,096 5.00 3.17 to 6.77 2,410 5.00 5.07 to 5.35 Exercisable at end of year 357 5.00 68 5.00 Weighted average grant date fair value/exercise price per value for options granted during the year/ period at less than market value 454 299.93 260.93 263.25 Scheme 2005 Number of shares under option: Outstanding at beginning of year 5,998 237.30 7,682 237.30 Granted 1,323 5.00 - - Exercised 920 128.37 478 134.08 Cancelled or expired 604 - 1,206 - Outstanding at the year end 5,797 192.53 2.44 to 6.34 5,998 237.30 3.44 to 5.92 Exercisable at end of year 2,576 192.53 1,876 237.30 Weighted average grant date fair value/exercise price per option for options granted during the year/ period at less than market value 1,323 401.40 - - Scheme 2008 & Annual Grant Plan Number of shares under option: Outstanding at beginning of period 5,794 331.22 - - Granted 2,566 402.50 6,216 330.36 Exercised 1 - - - Cancelled or expired 1,328 - 422 - Outstanding at period end 7,031 352.05 5.25 to 6.25 5,794 331.22 6.25 to 6.76 Exercisable at end of period 1,282 352.05 - - Weighted average grant date fair value/exercise price per option for options granted during the period at less than market value 2,566 169.45 6,216 154.44 Infratel Options Number of shares under option: Outstanding at beginning of period 2,450 340.00 - - Granted 995 340.00 2,450 340 Exercised - - - -
Bharti <strong>Airtel</strong> Annual Report 2009-10 (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 exercise remaining options exercise remaining price (Rs.) contractual price (Rs.) contractual life (in Years) life (in Years) Cancelled or expired 450 - - - Outstanding at period end 2,995 340.00 5.42 to 6.76 2,450 340 0 Exercisable at end of period 471 340.00 - - Weighted average grant date fair value/exercise price per option for options granted during the period at less than market value 995 478.01 2,450 374.81 Indus Options ** Number of shares under option: Outstanding at beginning of period - - - - Granted 2,134 249.00 - - Exercised - - - - Cancelled or expired 137 - - - Outstanding at period end 1,997 249.00 5.43 - - Exercisable at end of period - - - - Weighted average grant date fair value/exercise price per option for options granted during the period at less than market value 2,134 368.00 - - *Options have been exercised out of the shares issued to the trust ** The above represents details of all the ESOS of Indus. The weighted average share price during the year was Rs.365.42. (vi) The fair value of the options granted was estimated on the date of grant using the Black-Scholes / Lattice valuation model with the following assumptions Particulars For the year For the year ended March ended March 31, 2010 31, 2009 Risk free interest rates 5.35% to 8.50% 4.45% to 9.70% Expected life 48 to 84 months 48 to 72 months Volatility 36.13% to 58% 36.23% to 49.26% Dividend yield 0% to 0.31% 0.00% Weighted average share price on the date of grant 307.42 to 680 616.80 to 832.55 The volatility of the options is based on the historical volatility of the share price since the Group’s equity shares became publicly traded, which may be shorter than the term of the options. (vii) The balance of deferred stock compensation as on March 31, 2010 is Rs 1,642,167 thousand (March 31, 2009 Rs 1,495,823 thousand) and total employee compensation cost recognized for the year then ended is Rs 1,446,351 thousand (March 31, 2009 Rs 893,527 thousand). 20. Earnings per Share The board of directors in its meeting held on April 29, 2009 have 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. Accordingly, EPS for the year ended March 31, 2010 and previous year has been restated, as applicable, below: Particulars As at As at March 31, 2010 March 31, 2009 (Post Split) (Post Split) Basic and Diluted Earnings per Share : Nominal value of equity shares (Rs.) 5 5 Profit attributable to equity shareholders (Rs'000) (A) 91,631,284 78,589,545 Weighted average number of equity shares outstanding during the year (B) 3,796,858,204 3,796,210,078 Basic earnings per Share (Rs.) (A / B) 24.133 20.702 Dilutive effect on profit (Rs.'000) (C )* (3,172) 2,097 Profit attributable to equity shareholders for computing Diluted EPS (Rs'000) (D)=(A+C) 91,628,112 78,591,642 Dilutive effect on weighted average number of equity shares outstanding during the year (E)* 1,071,751 1,130,095 Weighted Average number of Equity shares and Equity Equivalent shares for computing Diluted EPS (F)=(B+E) 3,797,929,955 3,797,340,173 Diluted earnings per share (Rs..) (D/ F) 24.126 20.696 *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). 155
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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
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The Board of directors, Bharti Airt
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Annexure referred to in paragraph 4
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(x) The Company has no accumulated
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Particulars C. Cash flow from finan
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Particulars SCHEDULE : 3 SECURED LO
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Particulars SCHEDULE : 6 INVESTMENT
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Particulars SCHEDULE : 9 CASH AND B
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SCHEDULE: 21 STATEMENT OF SIGNIFICA
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Forward Exchange Contracts covered
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Minimum Alternative Tax (MAT) credi
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Unless otherwise stated below, the
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6. Employee benefits a) During the
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e) The estimates of future salary i
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epayable on disconnection, net of o
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2008-09 Particulars Year ended Purc
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) Details of trade investments purc
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Related Party Transaction for 2009-
Page 105 and 106: 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 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 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: 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
Page 169: To Karvy Computershare Private Limi
Page 172: Bharti Airtel Limited, Bharti Cresc
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Together good things happen - Airtel

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