Auditors Report

To

The Members of Infosys Tecnologia Do Brasil LTDA

We have audited the attached Balance Sheet of Infosys Tecnologia DO Brasil LTDA (‘the Company') as at December 31, 2009, the Profit and Loss account (‘Financial Statements') of the Company for the period ended on that date. These Financial Statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these Financial Statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free of material misstatement.

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the Financial Statements. An audit also includes assessing the accounting principles used and significant estimates made by the Management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

Further, we report that:

  1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;
  2. in our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;
  3. the Balance Sheet and the Profit and Loss account dealt with by this report are in agreement with the books of account;
  4. in our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Act, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:
    1. in the case of the Balance Sheet, of the state of affairs of the Company as at December 31, 2009; and
    2. in the case of the Profit and Loss account, of the loss of the Company for the period ended on that date

 For Shenoy & Kamath
Chartered Accountants


M Rathnakar Kamath
Membership No. 202841
Reg. No. 006673S


Bangalore 
January 7, 2010

 

Financial statements of Infosys Tecnologia DO Brasil LTDA

in Rs.
Balance Sheet as at
Schedule
 December 31, 2009
SOURCES OF FUNDS    
SHAREHOLDERS' FUNDS    
Share capital 1 17,14,11,417
    17,14,11,417
APPLICATION OF FUNDS    
FIXED ASSETS 2  
Original cost   9,03,89,201
Less: Accumulated depreciation   83,14,652
Net book value   8,20,74,549
Add: Capital work-in-progress   48,365
    8,21,22,914
CURRENT ASSETS, LOANS AND ADVANCES    
Sundry debtors 3 1,07,63,754
Cash and bank balances 4 5,71,00,613
Loans and advances 5 2,17,35,105
    8,95,99,472
LESS: CURRENT LIABILITIES AND PROVISIONS    
Current liabilities 6 4,21,67,566
    4,21,67,566
NET CURRENT ASSETS   4,74,31,906
Profit and Loss account   4,18,56,597
    17,14,11,417
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS 11  

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

For Shenoy & Kamath
Chartered Accountants		  
 
M Rathnakar Kamath
Membership No. 202841		 V. G. Dheeshjith
Sole Manager
 
Bangalore
January 7, 2010		  

 

in Rs.
Profit and Loss Account for the
Schedule
 Period ended
December 31,
    2009
Income from software services and business process management   2,72,07,679
Software development and business process management expenses 7 3,55,77,587
GROSS PROFIT   (83,69,908)
Selling and marketing expenses 8 1,41,744
General and administration expenses 9 2,84,09,626
    2,85,51,370
OPERATING PROFIT before interest and depreciation   (3,69,21,278)
Interest   –
Depreciation   83,17,391
OPERATING PROFIT before tax   (4,52,38,669)
Other income, net 10 5,77,304
Provision for investments   –
NET PROFIT before tax   (4,46,61,365)
Provision for taxation   –
NET PROFIT after tax   (4,46,61,365)
EARNINGS PER SHARE (EPS)    
Equity shares of par value 1 BRL each    
Basic   (30.2)
Number of shares used in computing basic earnings per share   14,77,062
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS 11  

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

For Shenoy & Kamath
Chartered Accountants		  
   
M Rathnakar Kamath
Membership No. 202841		 V. G. Dheeshjith
Sole Manager
   
Bangalore
January 7, 2010