Financials & Filings

Indian GAAP | US GAAP

US GAAP - Q1 FY01

Infosys Technologies Limited

Balance Sheet as of
in Rs
Particulars Schedule June 30, 2000 June 30, 1999 March 31, 2000
SOURCES OF FUNDS
SHAREHOLDERS' FUNDS
Share capital133,07,58,33533,06,95,50033,07,55,000
Reserves and surplus2927,12,34,168599,94,93,896800,22,73,248
960,19,92,503633,01,89,396833,30,28,248
APPLICATION OF FUNDS
FIXED ASSETS3
Gross block373,65,25,244190,40,05,553284,03,05,143
Less : Depreciation151,26,93,56592,02,83,178133,65,20,594
Net block222,38,31,67998,37,22,375150,37,84,549
Add : Capital work-in-progress53,04,58,78414,21,61,43856,96,03,505
275,42,90,463112,58,83,813207,33,88,054
INVESTMENTS436,16,97,12975,48,46913,83,48,469
CURRENT ASSETS, LOANS AND ADVANCES
Sundry debtors5228,39,91,832106,75,75,082136,17,81,253
Cash and bank balances6426,00,41,918389,99,38,741431,79,35,730
Loans and advances7196,24,84,174123,67,02,392210,12,77,161
850,65,17,924620,42,16,215778,09,94,144
Less : Current liabilities8116,79,86,40355,69,78,55967,15,06,459
Provisions985,25,26,61045,04,80,54298,81,95,960
NET CURRENT ASSETS648,60,04,911519,67,57,114612,12,91,725
960,19,92,503633,01,89,396833,30,28,248
SIGNIFICANT ACCOUNTING POLICIES AND
NOTES ON ACCOUNTS
13

The Schedules referred to above and the notes thereon form an integral part of the Balance Sheet.

This is the Balance Sheet referred
to in our report of even date. for Bharat S Raut & Co.
Chartered Accountants

Balaji Swaminathan
Partner
N. R. Narayana Murthy
Chairman and
Chief Executive Officer
Nandan M. Nilekani
Managing Director, President
and Chief Operating Officer
Marti G. Subrahmanyam
Director
S. Gopalakrishnan
Deputy Managing Director
K. Dinesh
Director
S. D. Shibulal
Director
T. V. Mohandas Pai
Director and
Chief Financial Officer
Phaneesh Murthy
Director
Srinath Batni
Director
Place : Bangalore
Date : July 11, 2000
V. Vishwanathan
Company Secretary

Infosys Technologies Limited

Schedules to the Balance Sheet as at
in Rs.
June 30, 2000 June 30, 1999 March 31, 2000
1SHARE CAPITAL
AUTHORIZED
10,00,00,000 (5,00,00,000) equity shares of Rs. 5 (Rs. 10) each50,00,00,00050,00,00,00050,00,00,000
ISSUED, SUBSCRIBED AND PAID UP
6,61,51,367 (3,30,69,400) equity shares of Rs. 5 (Rs. 10)
each fully paid up
33,07,56,83533,06,94,00033,07,53,500
[Of the above, 5,78,88,200 (2,89,44,100) equity shares of Rs. 5 (Rs. 10)
each fully paid up have been issued as bonus shares by
capitalization of the general reserve]
Add: Forfeited shares1,5001,5001,500
33,07,58,33533,06,95,50033,07,55,000
2RESERVES AND SURPLUS
Capital reserve as at April 1,5,93,54,1035,93,54,1035,93,54,103
5,93,54,1035,93,54,1035,93,54,103
Share premium account as at April 1, 318,37,81,595319,99,15,445319,99,15,445
Add : Received during the period
On conversion of ADS linked stock options9,98,171-1,75,65,777
318,47,79,766319,99,15,445321,74,81,222
Less : ADS linked stock option issue expenses--1,01,93,113
ADS issue expenses -2,02,03,6902,35,06,514
318,47,79,766317,97,11,755318,37,81,595
General reserve as at April 1, 475,91,37,550215,43,46,200215,43,46,200
Add: Transferred from Profit and Loss Account--260,47,91,350
Balance in Profit and Loss Account126,79,62,74960,60,81,838-
602,71,00,299276,04,28,038475,91,37,550
927,12,34,168599,94,93,896800,22,73,248

Infosys Technologies Limited

Schedules to the Balance Sheet as at
in Rs.
June 30, 2000 June 30, 1999 March 31, 2000
4INVESTMENTS No. of shares
TRADE (UNQUOTED)-at cost
Long- term investments
Yantra Corporation, a subsidiary company
incorporated in the USA
Common stock at US$ 0.20 each, fully paid,
par value US$ 0.01 each
75,00,000
(75,00,000)
5,32,51,6005,32,51,6005,32,51,600
Series A Convertible Preferred Stock at
US$ 0.75 each, fully paid, par value US$ 0.01 each
6,36,363
(6,36,363)
1,73,44,0741,73,44,0741,73,44,074
7,05,95,6747,05,95,6747,05,95,674
Less: Provision for investment in subsidiary7,05,95,6747,05,95,6747,05,95,674
Cidra Corporation (Series D Convertible Preferred Stock
at US$ 90 each fully paid up, par value US$ 0.01 each)
33,333
(nil)
13,40,08,660--
EC Cubed, Inc. (Series D Convertible Preferred Stock
at US$ 2.3075 each fully paid up, par value US$ 0.0001 each
13,00,108
(nil)
13,08,00,000-13,08,00,000
JASDIC Park Company
(common stock at Yen 50,000 each, fully paid up)
480
(480)
75,38,10975,38,10975,38,109
Onscan Inc.,
Common Stock at US$ 0.4348 each, fully paid,
Par value US$ 0.01 each
1,00,000
(nil)
19,42,162
Series A Voting Convertible Preferred Stock at
US$ 0.4348 each, fully paid, par value US$ 0.0001 each
1,00,000
(nil)
19,42,162--
Series A Nonvoting Convertible Preferred Stock at
US$ 0.4348 each, fully paid, par value US$ 0.0001 each
44,00,000
(nil)
8,54,55,676--
Software Services Support Education Center Limited
(Equity shares of Rs. 10 each fully paid up)
1
(1)
101010
The Saraswat Co-operative Bank Limited
(Equity shares of Rs. 10 each fully paid up)
1,035
(1,035)
10,35010,35010,350
36,16,97,12975,48,46913,83,48,469
Aggregate of unquoted investments - carrying value / cost36,16,97,12975,48,46913,83,48,469
5SUNDRY DEBTORS
Debts outstanding for a period exceeding six months
Unsecured
considered good
considered doubtful2,62,13,9042,47,43,1332,21,26,448
Other debts - unsecured, considered good* 228,39,91,832106,75,75,082136,17,81,253
231,02,05,736109,23,18,215138,39,07,701
Less: Provision for doubtful debts2,62,13,9042,47,43,1332,21,26,448
228,39,91,832106,75,75,082136,17,81,253
*Due by subsidiary - Yantra Corporation1,68,19,59059,82,287Nil

Infosys Technologies Limited

Schedules to the Balance Sheet as at
in Rs
June 30, 2000 June 30, 1999 March 31, 2000
6CASH AND BANK BALANCES
Cash on hand8398761,328.70
Balances with scheduled banks 795634.03
in current accounts *7,1373,8322,384.58
in deposit accounts in Indian rupees
in deposit accounts in foreign currency
Balances with non-scheduled banks
In deposit accounts in foreign currency
HSBC Bank Middle East, Bahrain69,43,99,799-66,76,98,310
In current accounts
ABN Amro Bank, Heerlen, Netherlands15,95,54418,99,76715,69,661
ABN Amro Bank, Brussels, Belgium13,26,688-16,26,311
Bank of America, Los Angeles, USA11,88,50229,59,29750,60,500
Bank of America, Milpitas, USA3,52,03,13079,73,87222,81,065
Bank of America, Palo Alto, USA51,53,93,17518,77,75,78257,93,97,557
Bank of Boston, Boston, USA5,46,03531,94,27016,88,886
Bank of Melbourne, Melbourne, Australia11,10,636-2,49,124
Barclays Bank, London, UK37,03,57313,62,20044,92,122
Deutsche Bank, Frankfurt, Germany36,94,39111,27,39936,15,221
First Chicago Bank, Chicago, USA16,42,69349,23,82821,98,743
Hongkong Bank of Canada, Toronto, Canada38,77,9938,02,04522,42,324
Michigan National Bank, Detroit, USA13,58,24310,98,0663,87,308
Nations Bank, Dallas, USA1,28,80,58354,39,9611,11,76,052
Nations Bank, Georgia, USA16,88,45618,23,59812,41,385
Nordbanken, Stockholm, Sweden16,97,129-3,45,518
Nova Scotia Bank, Toronto, Canada1,28,52,421-89,98,950
Seafirst Bank, Seattle, USA25,84,4996,72,21717,70,378
Sanwa Bank, Tokyo, Japan39,29,64041,33,07440,43,674
Summit Bank, Bridgewater, USA30,99,6749,66,78816,09,958
426,00,41,918389,99,38,741431,79,35,730
Maximum balance held during the period :
in deposit accounts in foreign currency
HSBC Bank Middle East, Bahrain69,43,99,799-66,76,98,310
in current accounts
ABN Amro Bank, Heerlen, Netherlands15,95,54419,12,86919,68,084
ABN Amro Bank, Brussels, Belgium16,26,311-16,74,689
Bank of America, Los Angeles, USA50,65,14329,59,29759,13,227
Bank of America, Milpitas, USA3,52,03,1301,60,46,0334,57,78,346
Bank of America, Palo Alto, USA69,60,58,19243,06,19,24071,03,42,796
Bank of Boston, Boston, USA28,18,99440,82,31468,26,703
Bank of Melbourne, Melbourne, Australia11,56,382-2,92,425
Barclays Bank, London, UK57,24,18639,15,19167,59,209
Deutsche Bank, Frankfurt, Germany36,94,39114,50,16040,36,519
First Chicago Bank, Chicago, USA22,07,08549,23,82849,23,828
Hongkong Bank of Canada, Toronto, Canada1,01,66,68818,78,0611,89,92,669
Michigan National Bank, Detroit, USA17,44,66013,34,28213,34,282
Nations Bank, Dallas, USA2,04,48,13760,97,6011,45,77,623
Nations Bank, Georgia, USA21,33,61218,23,59818,23,598
Nordbanken, Stockholm, Sweden16,97,129-3,45,518
Nova Scotia Bank, Toronto, Canada1,28,52,421-89,98,950
Seafirst Bank, Seattle, USA31,46,1588,19,84524,05,174
Sanwa Bank, Tokyo, Japan48,69,51758,34,32579,10,422
Summit Bank, Bridgewater, USA35,11,05630,83,72935,18,916

* Includes Rs. 1,37,40,241, Rs. 5,17,67,201, Rs. 28,72,035 being the balance in unclaimed dividend account as on June 30, 2000, June 30, 1999 and March 31, 2000 respectively.

Infosys Technologies Limited

Schedules to the Balance Sheet as at
in Rs.
June 30, 2000 June 30, 1999 March 31, 2000
7LOANS AND ADVANCES
Unsecured, considered good
Advances recoverable in cash or
in kind or for value to be received:
prepaid expenses11,60,57,0656,33,49,02311,58,60,415
advances paid for supplies of goods and rendering of services3,81,14,0402,32,48,2223,10,07,019
others1,32,38,0191,32,40,6341,01,94,327
16,74,09,1249,98,37,87915,70,61,761
Costs in excess of billings1,00,00,940--
Advance income tax 63,07,28,82821,86,13,11954,40,96,353
Loans and advances to employees *
housing and other loans40,69,17,05123,57,43,25638,74,34,827
salary advances17,01,47,6836,17,95,56513,61,51,037
Other advances3,58,01,1201,12,24,9943,23,06,323
Rent and maintenance deposits8,21,49,5446,21,95,5157,84,24,995
Deposits with Financial Institutions / body corporate45,93,29,88454,72,92,06476,58,01,865
196,24,84,174123,67,02,392210,12,77,161
Unsecured, considered doubtful
Deposit with a company-1,19,02,331-
Loans and advances to employees -4,01,814-
196,24,84,174124,90,06,537210,12,77,161
Less: Provision for doubtful loans and advances-1,23,04,145-
196,24,84,174123,67,02,392210,12,77,161
* includes due by non-director officers of the Company1,51,84,3362,42,70,9311,35,08,825
Maximum amounts due at any time during the period2,27,36,8922,57,85,2192,30,09,790
8CURRENT LIABILITIES
Sundry creditors
for goods2,10,91,18224,07,7774,25,90,239
for accrued salaries and benefits32,98,10,69415,54,66,73022,44,51,291
for other liabilities
provision for expenses6,65,40,3106,90,52,4647,67,74,570
retention monies5,85,96,6651,49,87,2014,91,19,373
withholding taxes payable--6,67,44,284
others2,08,18,1673,71,73,4641,47,21,153
49,68,57,01827,90,87,63647,44,00,910
Advances received from clients1,48,23,9016,79,7711,85,61,551
Unearned revenue64,25,65,24322,54,44,21717,56,71,963
Unclaimed dividend1,37,40,2415,17,66,93528,72,035
116,79,86,40355,69,78,55967,15,06,459
9PROVISIONS
Proposed dividend--19,84,18,210
Provision for taxation79,75,15,74230,96,79,38464,78,45,745
Provision for contingencies-9,99,00,000-
Provision for e-inventing the Company--39,00,977
Provision for post-sales client support5,50,10,8684,09,01,1585,51,91,028
Provision for gratuity--8,28,40,000
85,25,26,61045,04,80,54298,81,95,960