Financial information presented in substantial compliance with GAAP requirements of Canada

Consolidated Balance Sheets (unaudited) as of March 31,

Canadian dollars (CAD) in million, except share data
  2010 2009
Assets    
Current Assets    
Cash and cash equivalents 2,742 2,712
Investments in liquid mutual fund units 578 –
Investments in certificate of deposits 269 –
Trade accounts receivable 791 906
Unbilled revenue 190 185
Prepaid expenses and other current assets 167 101
Total current assets 4,737 3,904
Property, plant and equipment 1,005 1,151
Goodwill 186 169
Intangible assets, net 12 9
Deferred tax assets 79 101
Advance income taxes 150 68
Other assets 78 65
Total assets 6,247 5,467
Liabilities and stockholders’ equity    
Current liabilities    
Accounts payable 2 6
Income taxes payable 164 144
Client deposits 2 1
Unearned revenue 120 81
Other current liabilities 660 662
Total current liabilities 948 894
Non-current liabilities    
Deferred income tax liabilities 26 –
Other non-current liabilities 52 60
Parent company stockholders’ equity    
Common stock, INR Rs. 5/- par value 600,000,000 equity shares authorized, issued and outstanding – 570,991,592 and 572,830,043 as of March 31, 2010 and March 31, 2009 respectively 73 73
Additional paid-in capital 705 841
Accumulated other comprehensive income (397) (179)
Retained earnings 4,840 3,778
Total parent company stockholder’s equity 5,221 4,513
Non-controlling interest – –
Total equity 5,221 4,513
Total liabilities and stockholders’ equity 6,247 5,467

Consolidated statement of earnings and retained earnings (unaudited) for the years ended March 31,

Canadian dollars (CAD) in million, except share data
  2010 2009
Sales 5,232 5,250
Cost of sales 2,994 3,039
Gross margin 2,238 2,211
Expenses    
Selling, general and administration expenses 648 664
Income from operations 1,590 1,547
Provision for investments (1) –
Interest and other income 215 114
Gain on sale of long term investment 12 –
Earnings before income taxes 1,818 1,661
Provision for income taxes 388 219
Net earnings before non-controlling interest 1,430 1,442
Non-controlling interest – –
Net earnings after non-controlling interest 1,430 1,442
Cash dividend declared 379 363
  1,051 1,079
Retained earnings, beginning of the year 3,778 2,699
Reserves on consolidation of trusts(1) 11 –
Retained earnings, end of the year 4,840 3,778
Earnings per share    
Net earnings    
Basic (CAD) 2.51 2.53
Fully diluted (CAD) 2.50 2.53
Weighted average number of shares    
Basic 570,475,923 569,656,611
Fully diluted
 571,116,031 570,629,581
(1) Effective fiscal 2010 treasury shares held by controlled trusts were consolidated

Notes :
1. The functional currency of the Company is the Indian Rupee. These financial statements have been presented by translating revenue and expenditure at an average rate for the year; current assets, current liabilities, property, plant and equipment, long-term borrowings at the year-end rate; and accretions to stockholders’ equity at an average rate for the year. The difference arising on translation is shown under accumulated other comprehensive income

2.

Exchange rate (1 CAD =)
in Rs.
  2010 2009
Average rate 43.55 41.34
Period end rate 44.18 40.53