Schedules to the financial statements for the year ended March 31, 2011


23.2.3. Quantitative details

The Company is primarily engaged in the development and maintenance of computer software. The production and sale of such software cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of part II of Schedule VI to the Companies Act, 1956.

23.2.4. Imports (valued on the cost, insurance and freight basis)

in Rupee Symbolcrore

Particulars

Year ended March 31,

2011

2010

Capital goods

161

91

Software packages

4

10

165

101

23.2.5. Activity in foreign currency

in Rupee Symbolcrore

Particulars

Year ended March 31,

2011

2010

Earnings in foreign currency (on receipts basis)

Income from software services and products

23,954

21,072

Interest received from banks and others

6

3

Expenditure in foreign currency (on payments basis)

Overseas travel expenses (including visa charges)

535

404

Professional charges

159

150

Technical sub-contractors – subsidiaries

1,568

1,210

Overseas salaries and incentives

6,907

5,950

Other expenditure incurred overseas for software development

1,431

675

Net earnings in foreign currency

13,360

12,686

23.2.6. Obligations on long-term, non-cancelable operating leases

The lease rentals charged during the year and the maximum obligations on long-term, non-cancelable operating leases payable as per the rentals stated in the respective agreements are as follows :

in Rupee Symbolcrore

Particulars

Year ended March 31,

2011

2010

Lease rentals recognized during the year

68

62

in Rupee Symbolcrore

Lease obligations payable

As at March 31,

2011

2010

Within one year of the Balance Sheet date

63

48

Due in a period between one year and five years

152

149

Due after five years

30

24

The operating lease arrangements, are renewable on a periodic basis and extend up to a maximum of ten years from their respective dates of inception and relates to rented overseas premises. Some of these lease agreements have a price escalation clause.

Fixed assets provided on operating lease to Infosys BPO, a subsidiary company, as at March 31, 2011 and March 31, 2010 are as follows :

 

Particulars

Cost

Accumulated depreciation

Net book value

Buildings

60

25

35

59

21

38

Plant and machinery

3

2

1

18

15

3

Computer equipment

1

1

–

1

1

–

Furniture and fixtures

1

1

–

3

2

1

Total

65

29

36

81

39

42

The aggregate depreciation charged on the above assets during the year ended March 31, 2011 amounted to Rupee Symbol6 crore (Rupee Symbol7 crore for the year ended March 31, 2010).

The rental income from Infosys BPO for the year ended March 31, 2011 amounted to Rupee Symbol17 crore (Rupee Symbol16 crore for the year ended March 31, 2010).

23.2.7. Related party transactions

List of related parties :

Name of subsidiaries

Country

Holding as at March 31,

2011

2010

Infosys BPO

India

99.98%

99.98%

Infosys Australia

Australia

100%

100%

Infosys China (1)

China

100%

100%

Infosys Consulting

U.S.

100%

100%

Infosys Mexico (2)

Mexico

100%

100%

Infosys Sweden

Sweden

100%

100%

Infosys Shanghai (3)

China

100%

–

Infosys Brasil (4)

Brazil

100%

100%

Infosys Public Services, Inc.

U.S.

100%

100%

Infosys BPO s.r.o. (5)

Czech Republic

99.98%

99.98%

Infosys BPO (Poland) Sp.Z.o.o (5)

Poland

99.98%

99.98%

Infosys BPO (Thailand) Limited (5)

Thailand

–

99.98%

Infosys Consulting India Limited (6)

India

100%

100%

McCamish Systems LLC (5)(7)

U.S.

99.98%

99.98%
Notes : (1) During the year ended March 31, 2011 the Company made an additional investment of Rupee Symbol42 crore (US$ 9 million) in Infosys China, which is a wholly-owned subsidiary. As of March 31, 2011 and March 31, 2010, the Company has invested an aggregate of Rupee Symbol107 crore (US$ 23 million) and Rupee Symbol65 crore (US$ 14 million), respectively, in the subsidiary.
  (2) During the year ended March 31, 2011 the Company made an additional investment of Rupee Symbol14 crore (Mexican Peso 40 million) in Infosys Mexico, which is a wholly-owned subsidiary. As of March 31, 2011 and March 31, 2010, the Company has invested an aggregate of Rupee Symbol54 crore (Mexican Peso 150 million) and Rupee Symbol40 crore (Mexican Peso 110 million), respectively, in the subsidiary.
  (3) On February 21, 2011 the Company incorporated a wholly-owned subsidiary, Infosys Technologies (Shanghai) Company Limited and invested Rupee Symbol11 crore (US$ 3 million) in the subsidiary. As of March 31, 2011 the Company has invested an aggregate of Rupee Symbol11 crore (US$ 3 million) in the subsidiary.
  (4) During the year ended March 31, 2011 the Company made an additional investment of Rupee Symbol10 crore (BRL 4 million) in the subsidiary. As of March 31, 2011 and March 31, 2010 the Company has invested an aggregate of Rupee Symbol38 crore (BRL 15 million) and Rupee Symbol28 crore (BRL 11 million), respectively, in the subsidiary.
  (5) Infosys BPO s.r.o, Infosys BPO (Poland) Sp.Z.o.o, Infosys BPO (Thailand) Limited and McCamish Systems LLC are wholly-owned subsidiaries of Infosys BPO. During the year ended March 31, 2011 Infosys BPO (Thailand) Limited was liquidated.
  (6) During the year ended March 31, 2010, Infosys Consulting incorporated a wholly-owned subsidiary, Infosys Consulting India Limited. As of March 31, 2011 and March 31, 2010 Infosys Consulting has invested an aggregate of Rupee Symbol1 crore in the subsidiary.
  (7) During the year ended March 31, 2010, Infosys BPO acquired 100% of the voting interests in McCamish Systems LLC (McCamish), a business process solutions provider based in Atlanta, Georgia, in the United States. The business acquisition was conducted by entering into Membership Interest Purchase Agreement for a cash consideration of Rupee Symbol173 crore and a contingent consideration of Rupee Symbol67 crore. The acquisition was accounted as a business combination which resulted in goodwill of Rupee Symbol227 crore.

Infosys guarantees the performance of certain contracts entered into by its subsidiaries.

The details of amounts due to or due from as at March 31, 2011 and March 31, 2010 are as follows :

in Rupee Symbolcrore

Particulars

As at March 31,

2011

2010

Loans and advances

Infosys China

23

46

Infosys Brasil

9

–

Sundry debtors

Infosys China

39

19

Infosys Australia

5

7

Infosys Mexico

1

1

Infosys Consulting

24

26

Infosys Brasil

–

1

Infosys BPO (including subsidiaries)

3

2

Sundry creditors

Infosys China

32

18

Infosys Australia

–

20

Infosys BPO (including subsidiaries)

3

7

Infosys Brasil

–

–

Infosys Consulting

17

43

Infosys Consulting India

1

1

Infosys Mexico

1

5

Infosys Sweden

1

1

Deposit taken for shared services

Infosys BPO

7

7

The details of the related party transactions entered into by the Company and maximum dues from subsidiaries, in addition to the lease commitments described in note 23.2.6, for the year ended March 31, 2011 and March 31, 2010 are as follows :

in Rupee Symbolcrore

Particulars

Year ended March 31,

2011
2010

Capital transactions

Financing transactions

Infosys Mexico

14

18

Infosys China

42

–

Infosys Shanghai

11

–

Infosys Brasil

10

28

Infosys Public services

–

24

Infosys Consulting

–

50

Loans / Advances

Infosys Brasil

9

–

Infosys China

(23)

–

Revenue transactions

Purchase of services

Infosys Australia

889

634

Infosys China

240

134

Infosys Consulting

353

378

Infosys Consulting India

5

–

Infosys BPO (including subsidiaries)

17

3

Infosys Sweden

12

11

Infosys Mexico

49

45

Infosys Brasil

3

5

Purchase of shared services including facilities and personnel

Infosys BPO (including subsidiaries)

114

53

Interest income

Infosys China

2

3

Sale of services

Infosys Australia

33

25

Infosys China

6

10

Infosys BPO (including subsidiaries)

21

–

Infosys Consulting

73

25

Sale of shared services including facilities and personnel

Infosys BPO (including subsidiaries)

78

71

Infosys Consulting

4

4

Maximum balances of loans and advances

Infosys Australia

81

51

Infosys China

48

48

Infosys Brasil

9

–

Infosys BPO (including subsidiaries)

–

4

Infosys Mexico

4

4

Infosys Consulting

35

35

During the year ended March 31, 2011, an amount of Nil (Rupee Symbol34 crore for the year ended March 31, 2010) was donated to Infosys Foundation, a not-for-profit foundation, in which certain directors of the Company are trustees.

During the year ended March 31, 2011, an amount of Rupee Symbol12 crore (Rupee Symbol23 crore for the year ended March 31, 2010) has been granted to Infosys Science Foundation, a not-for-profit foundation, in which certain directors and officers of the Company are trustees.