1. At balance sheet date, there were outstanding commitments for
capital expenditure (net of advances) to the tune ofRs 69,068,704
(previous year Rs 104,993,301) of the total contractual obligation
entered up to the end of the year.
2. The claims against the company not acknowledged as debt wereRs
65,233,873. contingent liability on account of income tax matter
amounts to Rs 9,249,439 (previous yearRs 7,695,910) the company has filed
appeals with the tax authorities against the said demands.
3. The company has provided corporate Guarantee on behalf of the
following subsidiaries.
4. The company has implemented employee Stock Options Scheme 2005,
2007 and 2008 (ESOP Schemes) and has outstanding options granted under
the said schemes. the options vest in graded manner and must be
exercised within a specified period as per the terms of grants by the
compensation / Remuneration committee and ESOP Schemes.
5. Pursuant to the resolution passed by the Board of Director of the
company and in accordance with the provisions of the companies act,
1956 and the Securities and exchange Board of India (Buyback of
Securities) Regulations, 1998, the company made a public announcement
on December 24, 2010, to buy-back the companys equity shares at a
price not exceeding Rs 99 share, aggregating to Rs 1,040 mn. the buy-back
was successfully completed and the company bought back 12,998,877
equity shares and utilised maximum offer size of Rs 1,040 mn.
6. The company recognised deferred tax assets since the management is
reasonably / virtually certain of its profitable operations in future.
as per accounting Standard 22 accounting for taxes on income, the
timing differences mainly relates to following items and result in a
net deferred tax asset.
7. Company has pledged fixed deposits to the extent ofRs 2,670.00 mn
(previous year Rs 2,515.14 mn) with banks for bank guarantees/ overdraft
facilities and with the stock exchanges.
8. In the opinion of the management, there is only one reportable
business segment as envisaged by AS 17 Segment Reporting.
accordingly, no separate disclosure for segment reporting is required
to be made in the financial statements of the company.
Secondary segmentation based on geography has not been presented as the
company operates primarily in India and the company perceives that
there is no significant difference in its risk and returns in operating
from different geographic areas within India.
9. Financial income includes dividend on non trade and other
investments of Rs 158,066,959 (previous year Rs 55,160,035), interest of
Rs 696,477,129 (previous yearRs 186,282,511) and Profit on sale of
investments Rs 150,992,725 (previous year Rs 80,746,527 ).
10. Interest expenses include the interest on debentures Rs 22,681,825
(Previous year Rs 71,881,046) and discount on commercial paper Rs
810,600,446 (Previous yearRs 22,623,911).
11. The company provides for the use by its subsidiaries certain
facilities like use of premises, infrastructure and other
facilities/services and the same are termed as Shared Services. the
cost of such Shared Services are recovered from subsidiaries either on
actual basis or on reasonable management estimates, which are
constantly refined in the light of additional knowledge gained relevant
to such estimation.
12. There are no dues to micro & small enterprises (MSEs) outstanding
for more than 45 days.
13. Other requirements of Para 3 and 4 of part ii to Schedule VI of
the companies act, 1956 are not applicable to the company.
14. Previous year figures have been regrouped, reclassified &
rearranged, wherever considered necessary to conform to current years
presentation. |