Auditors Report

To

The Members of Infosys Australia Pty Limited

We have audited the attached Balance Sheet of Infosys Australia Pty Limited (‘The Company’) as at March 31 2010, the Profit and Loss account (‘Financial Statements’) of the Company for the year 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 31 March 2010; and
    2. in the case of the Profit and Loss account, of the profit of the Company for the year ended on that date

For Shenoy & Kamath
Chartered Accountants


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


Bangalore 
April 8, 2010

 

Financial statements of Infosys Technologies (Australia) Pty limited

In Rs.
Balance Sheet as at
Schedule
 March 31, 2010 March 31, 2009
SOURCES OF FUNDS      
SHAREHOLDERS’ FUNDS      
Share capital 1 4,36,92,227 4,36,92,227
Reserves and surplus 2 3,54,21,87,191 2,61,76,25,994
    3,58,58,79,418 2,66,13,18,221
APPLICATION OF FUNDS      
FIXED ASSETS 3    
Original cost   75,04,69,025 39,92,60,723
Less: Accumulated depreciation   52,02,14,742 30,82,64,234
Net book value   23,02,54,283 9,09,96,489
INVESTMENTS 4 13,24,40,329 13,24,40,280
DEFERRED TAX ASSETS 5 15,63,36,144 11,33,53,087
CURRENT ASSETS, LOANS AND ADVANCES      
Sundry debtors 6 30,69,64,195 30,36,69,275
Cash and bank balances 7 3,48,42,71,338 2,53,07,30,204
Loans and advances 8 15,20,80,304 9,30,60,666
    3,94,33,15,837 2,92,74,60,145
LESS: CURRENT LIABILITIES AND PROVISIONS      
Current liabilities 9 59,23,38,270 37,08,54,925
Provisions 10 28,41,28,905 23,20,76,855
    87,64,67,175 60,29,31,780
NET CURRENT ASSETS   3,06,68,48,662 2,32,45,28,365
    3,58,58,79,418 2,66,13,18,221
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS 16    

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		 K. Dinesh
Chairperson		 Jacqueline Korhonen
Chief Executive Officer and
Managing Director		 Srinath Batni
Director
       
  V.G. Dheeshjith
Director		 U. B. Pravin Rao
Director		 Subhash Dhar
Director
       
Bangalore 
April 8, 2010		      

 

In Rs.
Profit and Loss account for the
Schedule
Year ended March 31,
    2010 2009
Income from software services and business process management   7,11,34,64,769 5,49,43,80,833
Software development and business process management expenses 11 5,33,76,36,672 3,99,42,88,495
GROSS PROFIT   1,77,58,28,097 1,50,00,92,338
Selling and marketing expenses 12 46,58,81,276 30,06,87,193
General and administration expenses 13 55,64,42,342 59,35,25,608
    1,02,23,23,618 89,42,12,801
OPERATING PROFIT before interest and depreciation   75,35,04,479 60,58,79,537
Interest   – (392)
Depreciation   15,71,39,041 5,37,95,856
OPERATING PROFIT before tax   59,63,65,438 55,20,84,073
       
Other income, net 14 9,53,92,319 12,10,22,755
Provision for investments   – 18,96,000
NET PROFIT before tax   69,17,57,757 671,210,828
Provision for taxation 15 2,25,627,191 2,02,427,097
NET PROFIT after tax   4,66,130,566 46,87,83,731
EARNINGS PER SHARE    
Equity shares of par value AUD 0.11 /- each    
Basic 46.11 46.37
Number of shares used in computing earnings per share 1,01,08,869 1,01,08,869
SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS 16    

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		 K. Dinesh
Chairperson		 Jacqueline Korhonen
Chief Executive Officer and
Managing Director		 Srinath Batni
Director
       
  V.G. Dheeshjith
Director		 U. B. Pravin Rao
Director		 Subhash Dhar
Director
       
Bangalore 
April 8, 2010