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Bharti <strong>Airtel</strong> Annual Report 2009-10<br />
<strong>Together</strong> <strong>good</strong> <strong>things</strong> <strong>happen</strong><br />
investors<br />
Proactive would be the right word to describe Bharti <strong>Airtel</strong>'s approach to disclosures, interaction with analysts, and investor<br />
relations. It consistently looks beyond mere compliance requirements and fulfils the highest international standards.<br />
In order to bring transparency and adhere to best practices beyond compliance, some of the initiatives Bharti <strong>Airtel</strong> takes are:<br />
As per the listing agreement, while the Company has an option to submit either audited or unaudited quarterly and year<br />
to date financial results to the stock exchange, company has opted to furnish the audited accounts. In addition to the<br />
preparation of the financial statements under Indian GAAP as per the statutory requirements, the Company also prepares<br />
quarterly as well as annual financial statements under US GAAP, which are duly audited<br />
The Company will soon lead in IFRS accounting as well<br />
The Company has laid down a roadmap to comply with provisions of Sarbanes-Oxley (SOX) Act. a US federal law enacted<br />
on July 30, 2002, also known as the 'Public Company Accounting Reform and Investor Protection Act' and 'Corporate and<br />
Auditing Accountability and Responsibility Act'<br />
Bharti <strong>Airtel</strong> has a auditor rotation policy approved by the Board for Statutory as well as Internal Auditors.<br />
The Company displays adequate disclosures and transparency in its quarterly reports and shares<br />
optimal information to the extent permitted by the regulation and/or the competition.<br />
Frequent and transparent communication with investors keeps the Company closer and<br />
accessible to the investors. The Company conducts frequent interactions with stakeholders<br />
through personal meetings and/or through conference calls. Then there are conferences hosted<br />
by leading global brokerage houses which are a common ground to meet with a lot of investors<br />
– current as well as prospective. The Company aims at attending at least 10 such conferences<br />
across geographies every year, in order to ensure maximum reach to various profiles and classes<br />
of investors. In order to ensure better accessibility to its stakeholders, company has also created<br />
an email drop. Most of the meeting /interaction management processes at its end have been<br />
streamlined and automated via feed through this email and hence requests are easier to get<br />
right attention and execution.<br />
As a responsible corporate, interaction with opinion makers is equally important as they serve<br />
the interest of investors. The Company is aligned on day-to-day basis with majority of the<br />
analysts and research desks. It provides right information, which is transparent in nature while<br />
letting them form their own informed opinion. In case of major industry/company related<br />
developments, the Company attempts to provide them insights from it’s perspective. It also tries<br />
to disseminate important press releases which may be relevant to investing community.<br />
Company’s website is also kept updated with all shareable information almost on a real-time<br />
basis.<br />
As a commitment towards highest level of corporate governance, the Company stays away from<br />
interactions during the silent period which starts from the close of the business on the last day<br />
of the quarter till the declaration of results for that quarter.<br />
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