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HCL Technologies Directors Report, HCL Tech Reports by Directors
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HCL Technologies
BSE: 532281|NSE: HCLTECH|ISIN: INE860A01027|SECTOR: Computers - Software
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Directors Report Year End :   
201412 - Quarter 2

1. The financial results for the quarter ended 31 December 2014 were
approved by the Audit Committee
and have been approved and taken on record by the Board of Directors
at its meeting held on 30
January 2015.

2. Ratios have been computed as under:-

a. Debt service coverage ratio = (Profit from ordinary activities before tax + interest on long-term loans) / (interest on long-term loans + repayment of long-term loans).

b. Interest service coverage ratio = (Profit from ordinary activities before tax + interest on long-term loans) / interest on long-term loans.

3. During the quarter ended 31 December 2014, the Board of Directors has declared an interim dividend of Rs. 8 per share (400% on par value of Rs. 2 per share), amounting to Rs. 56,190 Lacs, which takes total dividend for the six month ended 31 December 2014 to Rs. 182,327 Lacs.

4. During the quarter ended 30 September 2014, the management based on technical evaluation reassessed the useful life of assets with effect from 01 July 2014. Accordingly the useful lives of certain assets required a change from the previous estimates. If the Company had continued with the previously assessed useful lives, charge for depreciation for the quarter and half year ended 31 December 2014 would have been higher by Rs. 5,107 lacs and Rs. 10,705 lacs respectively, for the assets held as at 01 July 2014.

5. The Board at its meeting held on 30 January 2015 has considered, approved and recommended a Bonus issue of Shares of one equity share for every one equity share held by the equity shareholders of the Company. The bonus issue of equity shares is subject to the approval of the shareholders and any other applicable statutory and regulatory approvals.

6. The figures of previous periods/year have been rearranged to conform to current period classification.

Shiv Nadar
Chairman and Chief Strategy Officer

Anant Gupta
President and Chief Executive Officer

Anil Chanana
Chief Financial Officer
Source : Dion Global Solutions Limited
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