Key management personnel comprise directors and members of the Executive Council.
Particulars of remuneration and other benefits paid to key management personnel during the years ended March 31, 2010 and March 31, 2009 have been detailed in Schedule 12. The aggregate managerial remuneration under Section 198 of the Companies Act 1956, to the directors (including the managing director) is as follows :
Particulars | Year ended March 31, |
||
2010 | 2009 | ||
Whole-time directors | |||
Salary | 2 | 2 | |
Contribution to provident and other funds | – | – | |
Perquisites and incentives | 7 | 6 | |
Total remuneration | 9 | 8 | |
Non-whole-time directors | |||
Commission | 6 | 6 | |
Reimbursement of expenses | 1 | 1 | |
Total remuneration | 7 | 7 |
Computation of net profit in accordance with Section 349 of the Companies Act, 1956, and calculation of commission payable to non-whole-time directors are as follows :
Particulars | Year ended March 31,
| ||
2010 | 2009 | ||
Net profit after tax before exceptional item | 5,755 | 5,819 | |
Add : | |||
Whole-time directors' remuneration | 9 | 8 | |
Commission to non-whole-time directors | 6 | 6 | |
Provision for bad and doubtful debts | (1) | 74 | |
Provision for doubtful loans and advances | – | 1 | |
Depreciation as per books of account | 807 | 694 | |
Provision for taxation | 1,717 | 895 | |
8,293 | 7,497 | ||
Less : | |||
Depreciation as envisaged under Section 350 of the Companies Act(1) | 807 | 694 | |
Net profit on which commission is payable | 7,486 | 6,803 | |
Commission payable to non-whole-time directors : | |||
Maximum allowed as per the Companies Act, 1956 at 1% | 75 | 68 | |
Maximum approved by the shareholders at 1% (1%) | 75 | 68 | |
Commission approved by the Board | 6 | 6 |
During the years ended March 31, 2010 and March 31, 2009, Infosys BPO has provided for commission of Rs. 0.12 crore and Rs. 0.12 crore to a non-whole-time director of Infosys.
(Refer to Note 23.2.8 in the Notes to Accounts of the annual standalone financial statements).
The Company has no dues to micro and small enterprises during the years ended March 31, 2010 and March 31, 2009 and as at March 31, 2010 and March 31, 2009.
(Refer to Note 23.2.24 in the Notes to Accounts of the annual standalone financial statements).
As at March 31, 2010 and March 31, 2009, the aggregate fair value of unquoted investments is Rs. 3,507 crore and Rs. Nil.
(Refer to Note 23.2.15 in the Notes to Accounts of the annual standalone financial statements).
Particulars | As at March 31,
| ||
2010 | 2009 | ||
As per the Balance Sheet | 9,797 | 9,039 | |
Add : Deposits with financial institutions (excluding interest accrued but not due)(1) | 1,500 | 1,250 | |
11,297 | 10,289 |
Ratio | Year ended March 31, |
||
2010 | 2009 | ||
Sales to total assets ratio | 0.95 | 1.14 | |
Operating profit / Average capital employed ratio (%) | 32.89 | 39.69 | |
Return on average net worth – before exceptional item (%) | 28.89 | 37.18 | |
Return on average net worth – after exceptional item (%) | 29.13 | 37.18 | |
Profit after tax to sales ratio – before exceptional item (%) | 27.22 | 28.72 | |
Profit after tax to sales ratio – after exceptional item (%) | 27.45 | 28.72 |
The abridged financial statements are represented in Rs. crore as per the approval received from Department of Company Affairs (DCA) earlier. Those items which were not represented in the abridged financial statement due to rounding off to the nearest Rs. crore are as follows :
Schedule | Description | As at March 31,
| ||
2010 | 2009 | |||
5 | Related party transactions | |||
Debtors | ||||
Infosys BPO s.r.o. | 0.04 | 0.02 | ||
Infosys China | 19.18 | 0.16 | ||
Infosys Consulting | 26.37 | 0.34 | ||
Infosys Thailand | 0.04 | 0.01 | ||
Infosys Sweden | 0.08 | 0.06 | ||
Infosys Brazil | 0.62 | – | ||
Creditors | ||||
Infosys BPO s.r.o. | 0.16 | 0.09 | ||
Infosys Mexico | 4.97 | 0.04 | ||
Infosys Thailand | 0.02 | – |
Schedule | Description | Year ended March 31,
| ||
2010 | 2009 | |||
5 | Related party transactions | |||
Revenue transactions | ||||
Purchase of services – Infosys BPO s.r.o. |
0.44 | 1.10 | ||
Purchase of services – Infosys BPO (Poland) |
0.03 | – | ||
Sale of services – Infosys Mexico | – | 0.07 |
Schedule | Description | Year ended March 31,
| |
2010 | 2009 | ||
Cash flow statement | |||
Profit / (loss) on sale of fixed assets | – | 0.16 | |
Proceeds on disposal of fixed assets | – | 0.21 | |
Provision for investments | – | 1.95 |