Directors' report

Consolidated Balance Sheet

As at March 31,

in crore

	Schedule	2011	2010
SOURCES OF FUNDS
SHAREHOLDERS’ FUNDS
Share capital	1	286	286
Reserves and surplus	2	25,690	22,763
		25,976	23,049
DEFERRED TAX LIABILITIES	5	176	232
MINORITY INTEREST		–	–
		26,152	23,281
APPLICATION OF FUNDS
FIXED ASSETS	3
Original cost		8,501	7,839
Less : Accumulated depreciation and amortization		3,266	2,893
Net book value		5,235	4,946
Add : Capital work-in-progress		525	409
		5,760	5,355
INVESTMENTS	4	144	3,702
DEFERRED TAX ASSETS	5	497	432
CURRENT ASSETS, LOANS AND ADVANCES
Sundry debtors	6	4,653	3,494
Cash and bank balances	7	15,095	10,556
Loans and advances	8	5,320	4,197
		25,068	18,247
LESS : CURRENT LIABILITIES AND PROVISIONS
Current liabilities	9	2,677	2,343
Provisions	10	2,640	2,112
NET CURRENT ASSETS		19,751	13,792
		26,152	23,281
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS	24

Note : The schedules referred to above form an integral part of the consolidated Balance Sheet.

As per our report attached

for B S R & Co.
Chartered Accountants
Firm’s registration number : 101248W

Natrajh Ramakrishna Partner Membership No. 32815	N. R. Narayana Murthy Chairman and Chief Mentor	S. Gopalakrishnan Chief Executive Officer and Managing Director	S. D. Shibulal Chief Operating Officer and Director	Deepak M. Satwalekar Director
	Prof. Marti G. Subrahmanyam Director	Dr. Omkar Goswami Director	Sridar A. Iyengar Director	David L. Boyles Director
	Prof. Jeffrey S. Lehman Director	K. V. Kamath Director	R. Seshasayee Director	K. Dinesh Director
Bangalore April 15, 2011	T. V. Mohandas Pai Director	Srinath Batni Director	V. Balakrishnan Chief Financial Officer	K. Parvatheesam Company Secretary