1. Corporate information
Excel Infoways Limited (the Company) is a public company domiciled in
India and incorporated under the provisions of the Companies Act, 1956.
Its shares are listed on two stock exchanges in India. The Company is
engaged in the IT enabled BPO Services and development of
2. Basis of preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956 and guidelines
issued by SEBI. The financial statements have been prepared on an
accrual basis and under the historical cost convention.
The'' accounting policies adopted in the preparation of financial
statements are consistent with those of previous year, except for the
change in accounting policy explained below.
3.1 Rights, preferences and restrictions attached to shares
The Company has one class of equity shares having a par value of Rs 10
each. Each shareholder is eligible for one vote per share held.
4.1 - The Company makes Provident Fund to defined contribution
retirement benefit plans for qualifying employees.
Under the schemes, the Company are required to contribute a specified
percentage of the payroll costs to fund the benefits. In case of
Provident Fund, the contributions specified under the law are paid to
the Provident Fund set up to the respective Regional Provident Fund
5.1 - Prior Period Items comprises short provision of Income tax of
earlier years Rs 875.23 thousands ( Previous year Rs 12.66 thousands).
5.2- Miscellaneous Expenses includes Misc. Expenditure W/off Rs 8700
thousands (Previous Year Rs 7762.70 thousands).
6.1 Acquisitions I Disinvestments
On 18.11.2011, the company has sold 25000 shares of Excel Infra N
Realty Pvt. Ltd and hence M/s Excel Infra N Realty Pvt. Ltd is no more
subsidiary of Excel Info ways Ltd.
7. Segment reporting
7.1 Identification of segments
The Company''s operating businesses are organized and managed separately
according to the nature of business and services provided, with each
segment representing a strategic business unit.
7.2 Allocation of common costs
Common allocable costs are allocated to each segment according to the
relative contribution of each segment to the total common costs.
7.3 Unallocated items
Unallocated items include general corporate income and expense items
which are not allocated to any business segment.
7.4 Segment accounting policies
The Company prepares its segment information in conformity with the
accounting policies adopted for preparing and presenting the financial
statements of the company as a whole.
8. Contingent Liability
Guarantee to Custom Department 474.74 313.00
9. Certain balance in loans & advances & Debtors accounts are
subjected to confirmation/reconciliation.
10. In the opinion of Board of Directors of the Company current
assets, loans & advances are of approximately the value stated, if
realized in ordinary course of business.
11. These financial statements have been prepared in the format
prescribed by the Revised Schedule VI to the Companies Act 1956.
Previous period figures have been recanted / restated to conform to the
classification of the current period.