The details of balances as on Balance Sheet dates with non-scheduled banks are as follows :
| Balances with non-scheduled banks | As at March 31, | |
| 2010 | 2009 | |
| Cash balance | 5,13,821 | 89,615 |
| 5,13,821 | 89,615 | |
| In current accounts | ||
| Deutsche Bank, PLN | 2,34,40,967 | 1,730,386 |
| Deutsche Bank, PLN ES Fund | 2,28,729 | 419,533 |
| Deutsche Bank, Euro | 73,79,595 | 1,207,047 |
| Citibank | – | 82,712 |
| 3,10,49,291 | 3,439,678 | |
| In deposit accounts | ||
| Deutsche Bank, Poland | 7,81,50,000 | – |
| 7,81,50,000 | – | |
| Total cash and bank balances as per Balance Sheet | 10,97,13,112 | 35,29,293 |
The details of maximum balances during the period with non-scheduled banks are as follows:
| Maximum balance with non-scheduled banks during the period | Year ended March 31, | |
| 2010 | 2009 | |
| In current accounts | ||
| Deutsche Bank, Poland | 25,61,55,488 | 48,22,33,915 |
| Citibank N.A., Poland | – | 82,712 |
The provision for service level agreement compliance is based on estimates made by the management for on going contracts. In accordance with paragraphs 66 and 67 of the Accounting Standard 29, the movement in provision for service level agreement is given below
| As at March 31, | ||
| 2010 | 2009 | |
| Balance at the beginning of the period | 6,332,706 | 3,538,973 |
| Additional provision made during the period | 9,939,203 | 4,830,033 |
| Provision used during the period | ||
| Unused amounts reversed during the period | 6,039,408 | 2,036,300 |
| Balance at the end of the period | 10,232,501 | 6,332,706 |
Management believes that the aforesaid provision will be utilized within a year.
The company's operations primarily relate to providing business process management services to organizations that outsource their business processes. Accordingly, revenues represented along industry classes comprise the primary basis of segmental information set out in these financial statements. Secondary segmental reporting is performed on the basis of the geographical location of customers.
The accounting principles consistently used in the preparation of the financial statements are also consistently applied to record income in individual segments. These are set out in the note on significant accounting policies.
Industry segments at the company primarily comprise customers relating to financial services, manufacturing, telecom, retail and other industries. Income in relation to segments is categorized based on items that are individually identified to those segments while expenditure is categorized in relation to the associated turnover of the segment. Expenses which form a significant component of total expenses are not specifically allocable to specific segments as the underlying services are used interchangeably. These expenses are separately disclosed as "unallocated" and adjusted only against the total income of the company. The company believes that it is not practical to provide segment disclosures relating to these costs and expenses, and accordingly these expenses are separately disclosed as unallocated and directly charged against total income. Fixed assets or liabilities contracted have not been identified to any reportable segments, as these are used interchangeably between segments. Accordingly no disclosure relating to total segment assets and liabilities are made.
Geographical segments are segregated based on the location of the customers, or in relation to which the revenue is otherwise recognized.
All direct costs are identified to its respective verticals/ geographies on the basis of revenues from the respective verticals/ geographies while unallocable cost consists of depreciation only.
Years ended March 31, 2010 and March 31, 2009
Particulars |
Financial services | Manufacturing | Telecom | Retail | Others | Total |
| Revenues | 2,26,77,914 | 135,88,65,900 | – | – | – | 138,15,43,814 |
| – | 126,14,49,031 | – | – | – | 126,14,49,031 | |
| Identifiable operating expenses | 21,43,851 | 62,11,04,650 | – | – | – | 62,32,48,501 |
| 19,39,007 | 71,59,10,169 | – | – | – | 71,78,49,176 | |
| Allocated expenses | 77,53,148 | 47,11,09,173 | – | – | – | 47,88,62,321 |
| – | 47,12,22,335 | – | – | – | 47,12,22,335 | |
| Segmental operating profit | 1,27,80,915 | 26,66,52,077 | – | – | – | 27,94,32,992 |
| 7,23,77,520 | ||||||
| Unallocable expenses | 2,61,85,155 | |||||
| 2,32,46,440 | ||||||
| Operating profit | 25,32,47,837 | |||||
| 4,91,31,080 | ||||||
| Other income net | (81,32,042) | |||||
| (56,38,563) | ||||||
| Net profit before taxes | 24,51,15,795 | |||||
| 4,34,92,517 | ||||||
| Taxes | 4,77,32,658 | |||||
| (1,58,95,200) | ||||||
| Net profit after taxes | 19,73,83,137 | |||||
| 2,75,97,317 |
Years ended March 31, 2010 and March 31, 2009
Particulars |
United States of America | Europe | Others | Total |
| Revenues | – | 138,15,43,814 | – | 138,15,43,814 |
| – | 126,14,49,031 | – | 126,14,49,031 | |
| Identifiable operating expenses | – | 62,32,48,501 | – | 62,32,48,501 |
| – | 71,78,49,176 | – | 71,78,49,176 | |
| Allocated expenses | – | 47,88,62,321 | – | 47,88,62,321 |
| – | 47,12,22,335 | – | 47,12,22,335 | |
| Segmental operating profit | – | 27,94,32,992 | – | 27,94,32,992 |
| – | 138,15,43,814 | – | 7,23,77,520 | |
| Unallocable expenses | 2,61,85,155 | |||
| 2,32,46,440 | ||||
| Operating profit | 25,32,47,837 | |||
| 4,91,31,080 | ||||
| Other income net | (81,32,042) | |||
| (56,38,563) | ||||
| Net profit before taxes | 24,51,15,795 | |||
| 4,34,92,517 | ||||
| Taxes | 4,77,32,658 | |||
| (1,58,95,200) | ||||
| Net profit after taxes | 19,73,83,137 | |||
| 2,75,97,317 |