Together good things happen - Airtel

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• With Cisco to create and launch unique products, including managed data services, hosted unified communications, connected branch services and Cisco TelePresence • With HTMT and Firstsource, expanding the call center contracts to include two more partners, thereby achieving a capability to handle 1.4 bn minutes of customer calls • With Limelight Networks for global content delivery network • With global telcos in launching unity cable system to boost Trans-Pacific connectivity • With global telcos to build and operate the Southeast Asia Japan Cable System rated among the highest capacity cable systems in the world • With Twitter, allowing its customers to send and receive SMS tweets on Twitter • With Dow Jones to launch The Wall Street Journal India mobile application providing the latest international and Indian financial and business news from The Wall Street Journal and Dow Jones Newswires, exclusively for Airtel customers on the mobile platform • Investment in Asia America Gateway (AAG), Unity North, South East Asia Japan Cable system (SJC), India Middle East Western Europe (IMEWE), East African Submarine System (EASSy) cable systems with consortium partners for extending global reach to 50 countries across 5 continents NEW PRODUCTS/ INITIATIVES During the year, the Company launched various new and innovative products and services, which enabled it to strengthen its leadership position in an intensely competitive market. Few of the key launches of the year included: • World’s first Windows-based Online Desktop powered by Microsoft and Nivio on Airtel broadband • India’s first mobile application store - Airtel App Central which offers over 1,500 applications for download across 550+ devices categorised under 25 customer categories • ‘Airtel Hosted Mail’ - powered by Microsoft Exchange Server 2007, a corporate mailing solution for Small and Medium Business (SMB) across the country to offer a robust enterprise grade mailing solution with an inbox as big as 4 GB along with a wider range of communication tools enabling them to share email messages, contacts, calendars, work folders, task list and documents from either their PC or mobile phone • HTC Smart, world’s first commercial 3G Smartphone based on brew MP platform in partnership with HTC and Qualcomm • Ultra fast 50 MBPS broadband offering the fastest wire line broadband in the country. The service will be initially available in Delhi and Gurgaon, with phased roll-out in cities of Mumbai, Chennai and Bengaluru • “VPN in a box”, a bundled product offering - MPLS bundled with last mile connective and customer premise hardware • Website Builder for customers with 15,000 built-in templates, domain names and e-commerce capabilities • mChek on voice, thereby expanding the range of mobile commerce application • Digital Media Exchange (DMX) and Teleport services for integrated content delivery for Media customers thereby marking Airtel’s foray into the “4th screen” for digital cinema content delivery • Airtel Digital TV Recorder, an enhanced Set Top Box (STB) with capability to record live television, anytime, anywhere • Mobile Comics Portal on Airtel Live, allowing its subscribers to access more than 300 Indian and International comics via WAP • Freedom Plan, giving its customers to choose from a variety of plans based on usage and calling patterns and; Turbo Plan allowing its customers to enjoy substantial advantage while roaming anywhere • Far-East Connect Network to serve global wholesale by linking Singapore and US via Asia America Gateway (AAG) cable landing in Singapore • Ethernet Services in more than 25 global cities across Asia, Europe, North America and Australia • Mobile Application Tool for Enterprises (MATE) that enables mobile devices to become an integral part of enterprise network, by allowing seamless, secure and On-Demand access to enterprise business data from anywhere, anytime CAPITAL MARKET RATINGS As at March 31, 2010, Bharti Airtel Limited has outstanding ratings with four institutions, two of them domestic, viz. CRISIL and ICRA, and two international, viz. Fitch Ratings and S&P. • CRISIL and ICRA have rated Airtel at the top end of their rating scales, both for short term (P1+ / A1+) as well as long term (AAA / LAAA) • Both Fitch Ratings and S&P have rated Airtel at the level of the sovereign rating of India (BBB-) Subsequent to March 31, 2010, and pursuant to the closure of the Zain transaction and related acquisition debt, while CRISIL, ICRA and Fitch Ratings have reaffirmed the above ratings, S&P has moved the rating to BB+. SHARE CAPITAL During the year, the Company issued 919,734 (sub-divided) equity shares of Rs 5 each upon exercise of stock options under ESOP Scheme 2005 of the Company. Further, the Company also allotted 65,385 (pre-split) equity shares of Rs 10 each upon conversion of Foreign Currency Convertible Bonds (FCCB’s) by their holders in May 2009.
In July 2009, the Company has sub-divided its 1 equity share of Rs 10 each into 2 equity shares of Rs 5 each. Due to these corporate actions, the issued, subscribed and paid-up equity share capital of the Company increased from 3,796,479,592 (sub-divided) (March 31, 2009) to 3,797,530,096 equity shares as of March 31, 2010. MANAGEMENT DISCUSSION & ANALYSIS REPORT In accordance with the listing agreement requirements, the Management Discussion & Analysis report is presented in a separate section forming part of the Annual Report. CORPORATE GOVERNANCE The Company is committed to maintain the highest standards of Corporate Governance. The directors adhere to the requirements set out by the Securities and Exchange Board of India’s Corporate Governance Practices and have implemented all the stipulations prescribed. A detailed report on Corporate Governance pursuant to the requirements of clause 49 of the listing agreement forms part of the annual report. A certificate from the auditors of the Company, S.R. Batliboi & Associates, Chartered Accountants, Gurgaon confirming compliance of conditions of Corporate Governance as stipulated under clause 49 is annexed to this report as Annexure A. SECRETARIAL AUDIT REPORT Keeping with the high standards of corporate governance adopted by the Company and also to ensure proper compliance with the provisions of various applicable corporate laws, regulations and guidelines issued by the Securities and Exchange Board of India and other statutory authorities, the Company has voluntarily started a practice of secretarial audit from a practicing company secretary. The Board had appointed M/s. Chandrasekaran Associates, Company Secretaries, New Delhi, to conduct secretarial audit of the Company for the financial year ended March 31, 2010, who has submitted their report confirming the compliance with all the applicable provisions of various corporate laws. The Secretarial Audit Report is provided separately in the annual report. CORPORATE SOCIAL RESPONSIBILITY At Bharti Airtel, Corporate Social Responsibility (CSR) encompasses much more than social outreach programs and is an integral part of the way the Company conducts its business. Detailed information on the initiatives of the Company towards CSR activities is provided in the Corporate Social Responsibility section of the annual report. DIRECTORS Since last Directors’ Report, Paul O’Sullivan, Quah Kung Yang and Mauro Sentinelli have resigned from the Board due to personal reasons and Bashir Currimjee has retired from the Board in terms of the policy on independent directors adopted by the Company. During the year, Tan Yong Choo and Lim Chuan Poh were appointed as directors. The Board places on record its sincere appreciation for the services rendered by Paul O’Sullivan, Quah Kung Yang, Mauro Sentinelli and Bashir Currimjee during their tenure on the Board. Chua Sock Koong, Pulak Chandan Prasad, Rajan Bharti Mittal and Rakesh Bharti Mittal retire by rotation at the forthcoming annual general meeting and being eligible, offer themselves for re-appointment. A brief resume containing nature of expertise, details of directorships held in other public limited companies of the directors proposing re-appointment along with their shareholding in the Company as stipulated under clause 49 of the listing agreement with the stock exchanges is appended as an annexure to the notice of ensuing annual general meeting. FIXED DEPOSITS The Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as on the balance sheet date. AUDITORS The Statutory Auditors of the Company, M/s. S. R. Batliboi & Associates, Chartered Accountants, Gurgaon, retire at the conclusion of the ensuing annual general meeting of the Company and have confirmed their willingness and eligibility for re-appointment and have also confirmed that their re-appointment, if made, will be within the limits under section 224(1B) of the Companies Act, 1956. AUDITORS’ REPORT The Board has duly examined the Statutory Auditors’ report to accounts which is self explanatory and clarifications wherever necessary, have been included in the notes to accounts section of the annual report. As regards the comment under para xxi of Annexure to the Auditors’ Report, to address the issues of fraud by employees and external parties, the Company has taken appropriate steps including issuance of warning letters, termination of service of the errant employees, termination of the contract / agreements with the external parties, legal action against the external parties involved, blacklisting the contractors, etc. The Company is focused on further strengthening its internal control systems to reduce the probability of occurrence of such events in future. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO For the Company, being a service provider organisation, most of the information as required under section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988, as amended is not applicable. However, the information, as applicable, has been given in Annexure B to this report. EMPLOYEES STOCK OPTION PLAN Bharti Airtel Annual Report 2009-10 The Company values its human resource and is committed to adopt the best HR practices. The employees of the Company are presently benefited from two ESOP schemes under 2001 and 2005 Employee Stock Option Policy. Besides attraction of 35
Page 1 and 2: Together good things happen... Bhar
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Page 5 and 6: Corporate history and Top 30 shareh
Page 7 and 8: Awards & honours With a belief that
Page 9 and 10: Chairman’s message Closer home, w
Page 11 and 12: To be provided Akhil Gupta Chua Soc
Page 13 and 14: Pulak Chandan Prasad Rakesh Bharti
Page 15 and 16: Bharti Airtel Annual Report 2009-10
Page 17 and 18: CEO (India & South Asia)’s Airtel
Page 19 and 20: Airtel Experience Last year was tru
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Page 23 and 24: Together good things happen Bharti
Page 27 and 28: Taking everybody along Bharti Airte
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Page 35: exemption to the Company from attac
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Page 41 and 42: Information regarding the Employees
Page 43 and 44: • Restriction on Sale of Equity O
Page 45 and 46: FINANCIAL PERFORMANCE (Amount in Rs
Page 47 and 48: INTERNAL CONTROL SYSTEMS The Compan
Page 49 and 50: consent. The appointments of such d
Page 51 and 52: g) Tenure of independent directors
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Page 57 and 58: Key Responsibilities Key responsibi
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Page 61 and 62: MEANS OF COMMUNICATION The quarterl
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Page 77 and 78: Particulars SCHEDULE : 6 INVESTMENT
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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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Bharti Airtel Annual Report 2009-10
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Related Party Transaction for 2009-
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24.Operating lease - As a Lessee Th
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(v) The Information concerning stoc
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Particulars As at As at March 31, 2
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Auditors' Report to The Board of Di
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Particulars C. Cash flow from finan
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Particulars SCHEDULE : 2 (Cont.) Pr
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Particulars SCHEDULE : 6 INVESTMENT
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Particulars SCHEDULE : 12 CURRENT L
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ecognised over the period of servic
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Standard 15 (revised), “Employee
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SCHEDULE: 22 NOTES TO THE FINANCIAL
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obligations fully due to certain no
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c) Reconciliation of opening and cl
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Joint Venture Entities: b) The Comp
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13. Particulars of securities charg
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(Rs '000) Related Party Transaction
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17. Leases a) Operating Lease - As
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d) 2006 Plan under the Old Scheme T
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24. As at March 31, 2010 the accumu
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Notice is hereby given that the fif
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EXPLANATORY STATEMENT (Under sectio
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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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Together good things happen - Airtel

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