Together good things happen - Airtel

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(Rs '000) Particulars For the year ended For the year ended March 31, 2010 March 31, 2009 SCHEDULE : 18 ADMINISTRATIVE AND OTHER EXPENDITURE Legal and Professional 967,042 746,185 Rates and Taxes 204,142 107,561 Power and Fuel 749,151 596,648 IT and call Center Outsourcing 9,566,406 10,943,342 Traveling and Conveyance 818,548 942,806 Rent 1,568,104 1,087,509 Repairs and Maintenance - Building 131,163 106,231 - Others 468,855 398,890 Insurance 77,087 28,490 Bad debts written off 718,460 756,695 Provision for doubtful debts and advances 2,267,530 2,684,358 Provision for Diminution in Stock/ CWIP/ Security Deposit 487,332 228,944 Collection and Recovery Expenses 2,743,897 1,708,114 Loss on sale of Fixed Assets (net) 170,856 - Miscellaneous Expenses 1,462,903 539,555 SCHEDULE : 19 22,401,476 20,875,328 OTHER INCOME Liabilities/Provisions no longer required written back 444,478 497,718 Profit on Sale of Fixed Assets (Net) - 38,899 Miscellaneous 452,817 870,751 SCHEDULE : 20 FINANCE EXPENSE / (INCOME) (Net) 897,295 1,407,368 Interest : - On Term Loan 979,423 2,010,561 - On Debentures 53,652 58,457 - On Others 39,776 35,189 Amortisation of Premium on Redemption of FCCB's 957 573 Exchange fluctuation (gain) / loss (Net) (8,513,486) 17,142,195 Loss from swap arrangements (Net) 87,713 65,433 Other Finance Charges 1,671,984 2,171,412 (5,679,981) 21,483,820 Less : Income Profit on sale of Current Investments (other than trade) 1,839,461 2,354,840 Interest Income : - from Current Investments and Fixed Deposits (other than Trade) 552,464 739,406 [Gross of TDS of Rs 124,582 thousand (March 31, 2009 Rs 132,610 thousand)] - from other advances 484,568 749,732 [Gross of TDS of Rs 41,282 thousand (March 31, 2009 Rs 171,212 thousand)] 2,876,493 3,843,978 (8,556,474) 17,639,842
SCHEDULE: 21 STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2010 1 BASIS OF PREPARATION The financial statements have been prepared to comply in all material respects with the Notified accounting standards by Companies (Accounting Standards) Rules, 2006, (‘as amended’) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under the historical cost convention on an accrual basis except in case of assets for which revaluation is carried out. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. 2. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting year end. Although these estimates are based upon management’s best knowledge of current events and actions, actual results could differ from these estimates. 3. FIXED ASSETS Fixed Assets are stated at cost of acquisition and subsequent improvements thereto, including taxes & duties (net of cenvat credit), freight and other incidental expenses related to acquisition and installation. Capital work-in-progress is stated at cost. Site restoration cost obligations are capitalized when it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount can be made. The intangible component of license fee payable by the Company for cellular and basic circles, upon migration to the National Telecom Policy (NTP 1999), i.e. Entry Fee, has been capitalised as an asset and the one time license fee paid by the Company for acquiring new licences (post NTP-99) (basic, cellular, national long distance and international long distance services) has been capitalised as an intangible asset. 4. DEPRECIATION / AMORTISATION Depreciation on fixed assets is provided on the straight line method based on useful lives of respective assets as estimated by the management or at the rates prescribed under Schedule XIV of the Companies Act, 1956, whichever is higher. Leasehold land is amortised over the period of lease. Depreciation rates adopted by the Company are as follows: Useful lives Leasehold Land Period of lease Building 20 years Building on Leased Land 20 years Leasehold Improvements Period of lease or 10 years whichever is less Plant & Machinery 3 years to 20 years Computer & Software 3 years Office Equipment 2 years/5 years Furniture and Fixtures 5 years Vehicles 5 years Software up to Rs 500 thousand is fully depreciated in the financial year placed in service. Bandwidth capacity is amortised on straight line basis over the period of the agreement subject to a maximum of 18 years. The Entry Fee capitalised is amortised over the period of the license and the one time licence fee is amortised over the balance period of licence from the date of commencement of commercial operations. The site restoration cost obligation capitalized is depreciated over the period of the useful life of the related asset. Fixed Assets costing upto Rs 5 thousand are being fully depreciated within one year from the date of acquisition. 5. REVENUE RECOGNITION AND RECEIVABLES Mobile Services Bharti <strong>Airtel</strong> Annual Report 2009-10 Service revenue is recognised on completion of provision of services. Service revenue includes income on roaming commission and an access charge recovered from other operators, and is net of discounts and waivers. Revenue, net of discount, is recognised on transfer of all significant risks and rewards to the customer and when no significant uncertainty exists regarding realisation of consideration. Processing fees on recharge is being recognised over the estimated customer relationship period or voucher validity period, as applicable. Revenue from prepaid calling cards packs is recognised on the actual usage basis. Telemedia Services (Erstwhile Broadband & Telephone Services) Service revenue is recognised on completion of provision of services. Revenue is recognised when no significant uncertainty exists regarding realisation of consideration. 81
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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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Page 31 and 32: Bharti Airtel Annual Report 2009-10
Page 33 and 34: Photos by Amit Bhatia, Legal & Regu
Page 35 and 36: exemption to the Company from attac
Page 37 and 38: In July 2009, the Company has sub-d
Page 39 and 40: egarding compliance of conditions o
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
Page 53 and 54: directors will be entitled to commi
Page 55 and 56: - Matters required to be included i
Page 57 and 58: Key Responsibilities Key responsibi
Page 59 and 60: Special resolutions passed at the l
Page 61 and 62: MEANS OF COMMUNICATION The quarterl
Page 63 and 64: Distribution of shareholding By num
Page 65 and 66: The Board of directors, Bharti Airt
Page 67 and 68: Annexure referred to in paragraph 4
Page 69 and 70: (x) The Company has no accumulated
Page 73 and 74: Particulars C. Cash flow from finan
Page 75 and 76: Particulars SCHEDULE : 3 SECURED LO
Page 77 and 78: Particulars SCHEDULE : 6 INVESTMENT
Page 79 and 80: Particulars SCHEDULE : 9 CASH AND B
Page 81: Bharti Airtel Annual Report 2009-10
Page 85 and 86: Forward Exchange Contracts covered
Page 87 and 88: Minimum Alternative Tax (MAT) credi
Page 89 and 90: Unless otherwise stated below, the
Page 91 and 92: 6. Employee benefits a) During the
Page 93 and 94: e) The estimates of future salary i
Page 95 and 96: epayable on disconnection, net of o
Page 97 and 98: 2008-09 Particulars Year ended Purc
Page 99 and 100: ) Details of trade investments purc
Page 103 and 104: 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 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
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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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Related Party Transaction for 2009-
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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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