Financials & Filings

Indian GAAP | US GAAP

Indian GAAP - Q2 FY01

Infosys Technologies Limited

in Rs
Balance Sheet as atScheduleJune 30, 2000June 30, 1999March 31, 2000
SOURCES OF FUNDS
SHAREHOLDERS' FUNDS
Share capital133,07,58,33533,06,95,50033,07,55,000
Reserves and surplus21060,95,95,077654,61,29,197800,22,73,248
1094,03,53,412687,68,24,697833,30,28,248
APPLICATION OF FUNDS
FIXED ASSETS3
Gross block435,74,18,072201,20,83,575284,03,05,143
Less : Depreciation175,13,71,312102,07,57,018133,65,20,594
Net block260,60,46,76099,13,26,557150,37,84,549
Add : Capital work-in-progress104,58,25,08041,28,99,28556,96,03,505
365,18,71,840140,42,25,842207,33,88,054
INVESTMENTS445,73,06,73775,48,46913,83,48,469
Sundry debtors5243,05,68,746133,47,09,804136,17,81,253
Cash and bank balances6424,28,92,315377,68,71,030431,79,35,730
Loans and advances7288,54,93,594164,28,14,672210,12,77,161
955,89,54,655675,43,95,506778,09,94,144
Less : Current liabilities8150,82,14,07758,78,14,18167,15,06,459
Provisions9121,95,65,74370,15,30,93998,81,95,960
NET CURRENT ASSETS683,11,74,835546,50,50,386612,12,91,725
1094,03,53,412687,68,24,697833,30,28,248
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
Deepak M. Satwalekar
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 : October 10, 2000
V. Vishwanathan
Company Secretary

INFOSYS TECHNOLOGIES LIMITED

in Rs.
Schedules to the Balance Sheet as at Sep 30, 2000Sep 30, 1999Mar 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
Equity shares, Rs. 5 (Rs. 10 ; Rs.5) par value 6,61,51,367 (3,30,69,400; 6,61,50,700) equity shares, fully paid up [Of the above, 5,78,88,200 (2,89,44,100; 5,78,88,200) equity shares fully paid up have been issued as bonus shares by capitalization of the general reserve]33,07,56,83533,06,94,00033,07,53,500
Add: Forfeited shares1,5001,5001,500
33,07,58,33533,06,95,50033,07,55,000
2RESERVES AND SURPLUS
Capital reserve 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 options
9,98,171-1,75,65,777
318,47,79,766319,99,15,445321,74,81,222
Less : ADS linked stock option issue expenses--1,01,93,113
ADS issue expenses -2,05,30,0902,35,06,514
318,47,79,766317,93,85,355318,37,81,595
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 Account260,63,23,658115,30,43,539-
736,54,61,208330,73,89,739475,91,37,550
1060,95,95,077654,61,29,197800,22,73,248

INFOSYS TECHNOLOGIES LIMITED

in Rs.
Schedules to the Balance Sheet as atSep 30, 2000Sep 30, 1999Mar 31, 2000
4INVESTMENTS
TRADE (UNQUOTED)-at cost
Long- term investments
Yantra Corporation, a subsidiary company
incorporated in the USA
75,00,000 (75,00,000; 75,00,000) common stock
at US$ 0.20 each, fully paid, par value US$ 0.01 each
5,32,51,6005,32,51,6005,32,51,600
6,36,363 (6,36,363; 6,36,363) Series A convertible preferred stock,
at US$ 0.75 each, fully paid, par value US$ 0.01 each
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
Alpha Thinx Mobile Phone Services AG, Austria2,20,98,608--
27,790 (nil; nil) bearer shares
at € 20 each, fully paid, par value € 1 each
Asia Net Media BVI Ltd, the British Virgin Islands6,84,75,000--
3,00,00,000 (nil; nil) common stock
at US$ 0.05 each, fully paid, par value US$ 0.01 each
CiDRA Corporation, USA13,40,08,660--
33,333 (nil; nil) Series D convertible preferred stock
at US$ 90 each, fully paid, par value US$ 0.01 eachv
EC Cubed, Inc., USA13,08,00,000-13,08,00,000
13,00,108 (nil; 13,00,108) Series D convertible preferred stock
at US$ 2.3075 each, fully paid up, par value US$ 0.0001 each
JASDIC Park Company, Japan75,38,10975,38,10975,38,109
480 (480; 480) common stock
at ¥ 50,000 each, fully paid, par value ¥ 50,000 each
M-Commerce Ventures Pte Ltd, Singapore Units in the company, each unit representing 1 common stock of Singapore $1 each, fully paid, par value Singapore $1 and 9 redeemable preferred stock of Singapore $1, fully paid, at a premium of Singapore $1,110 per redeemable preferred stock
20 (nil; nil) common stock504--
180 (nil; nil) redeemable preference stock50,35,496--
Onscan Inc., USA
1,00,000 (nil; nil) common stock
at US$ 0.4348 each, fully paid, par value US$ 0.01 each
19,42,162--
1,00,000 (nil; nil) Series A voting convertible preferred stock
at US$ 0.4348 each, fully paid, par value US$ 0.0001 each
19,42,162--
44,00,000 (nil; nil) Series A non-voting convertible preferred stock
at US$ 0.4348 each, fully paid, par value US$ 0.0001 each
8,54,55,676--
Software Services Support Education Center Limited101010
1 (1; 1) equity share of Rs. 10 each, fully paid, par value Rs. 10
The Saraswat Co-operative Bank Limited10,35010,35010,350
1,035 (1,035; 1,035) equity shares of Rs. 10 each, fully paid, par value Rs. 10
45,73,06,73775,48,46913,83,48,469
Aggregate of unquoted investments - carrying value / cost45,73,06,73775,48,46913,83,48,469
5SUNDRY DEBTORS
Debts outstanding for a period exceeding six months
Unsecured
considered good
considered doubtful3,49,20,5573,15,66,5862,21,26,448
Other debts
unsecured243,05,68,746133,47,09,804136,17,81,253
considered good* 3,64,00,351--
considered doubtful250,18,89,654136,62,76,390138,39,07,701
Less: Provision for doubtful debts7,13,20,9083,15,66,5862,21,26,448
243,05,68,746133,47,09,804136,17,81,253
*includes due by subsidiary - Yantra Corporation1,79,19,0541,06,19,816Nil

INFOSYS TECHNOLOGIES LIMITED

in Rs
Schedules to the Balance Sheet as at Sep 30, 2000Sep 30, 1999Mar 31, 2000
6CASH AND BANK BALANCES
Cash on hand28,77,2769,68,92313,17,773
Balances with scheduled banks
in current accounts *28,92,56,12012,87,53,87910,16,77,272
in deposit accounts in Indian rupees106,56,60,78111,44,59,30522,91,45,764
in deposit accounts in foreign currency136,32,75,391321,80,22,575268,41,01,874
Balances with non-scheduled banks
In deposit accounts in foreign currency
HSBC Bank Middle East, Bahrain72,78,38,970-66,76,98,310
In current accounts
ABN Amro Bank, Heerlen, Netherlands15,33,75919,66,21215,69,661
ABN Amro Bank, Brussels, Belgium14,41,7448,72,26516,26,311
Bank of America, Concord, USA1,49,58,076--
Bank of America, Los Angeles, USA9,06,84243,69,33350,60,500
Bank of America, Milpitas, USA2,24,10,0182,77,54,96922,81,065
Bank of America, Palo Alto, USA66,35,52,08725,40,88,59157,93,97,557
Bank of Boston, Boston, USA18,63,00612,88,08716,88,886
Bank of Melbourne, Melbourne, Australia4,12,696-2,49,124
Barclays Bank, London, UK2,58,61,41017,10,62544,92,122
Deutsche Bank, Frankfurt, Germany20,02,01722,23,66636,15,221
First Chicago Bank, Chicago, USA1,07,79733,86,70621,98,743
Hongkong Bank of Canada, Toronto, Canada30,84,44232,28,33922,42,324
Michigan National Bank, Detroit, USA9,33,2494,08,9653,87,308
Nations Bank, Dallas, USA1,22,37,22657,75,7471,11,76,052
Nations Bank, Georgia, USA12,11,41311,41,02912,41,385
Nordbanken, Stockholm, Sweden10,42,268-3,45,518
Nova Scotia Bank, Toronto, Canada2,95,46,101-89,98,950
Seafirst Bank, Seattle, USA23,30,5259,64,71317,70,378
Sanwa Bank, Tokyo, Japan14,76,75942,69,89240,43,674
Summit Bank, Bridgewater, USA70,72,34212,17,20916,09,958
424,28,92,315377,68,71,030431,79,35,730
Maximum balance held during the period :
in deposit accounts in foreign currency
HSBC Bank Middle East, Bahrain72,78,38,970-66,76,98,310
in current accounts
ABN Amro Bank, Heerlen, Netherlands15,95,54419,68,08419,68,084
ABN Amro Bank, Brussels, Belgium16,97,3528,72,26516,74,689
Bank of America, Concord, USA1,89,84,569--
Bank of America, Los Angeles, USA50,65,14343,69,33359,13,227
Bank of America, Milpitas, USA5,42,67,6203,49,94,8664,57,78,346
Bank of America, Palo Alto, USA69,60,58,19243,06,19,24071,03,42,796
Bank of Boston, Boston, USA41,81,11968,26,70368,26,703
Bank of Melbourne, Melbourne, Australia13,42,430-2,92,425
Barclays Bank, London, UK2,58,61,41041,17,53867,59,209
Deutsche Bank, Frankfurt, Germany36,94,39123,45,43640,36,519
First Chicago Bank, Chicago, USA22,07,08549,23,82849,23,828
Hongkong Bank of Canada, Toronto, Canada1,01,66,6881,89,92,6691,89,92,669
Michigan National Bank, Detroit, USA17,44,66013,34,28213,34,282
Nations Bank, Dallas, USA2,19,16,24082,25,0841,45,77,623
Nations Bank, Georgia, USA21,33,61218,23,59818,23,598
Nordbanken, Stockholm, Sweden16,97,129-3,45,518
Nova Scotia Bank, Toronto, Canada2,95,46,101-89,98,950
Seafirst Bank, Seattle, USA31,46,15810,80,91724,05,174
Sanwa Bank, Tokyo, Japan48,69,51758,34,32579,10,422
Summit Bank, Bridgewater, USA88,91,86130,83,72935,18,916

* Includes Rs. 43,57,995, Rs. 24,38,605, Rs. 28,72,035 being the balance in unclaimed dividend account as on Sep 30, 2000, Sep 30, 1999 and March 31, 2000 respectively.

INFOSYS TECHNOLOGIES LIMITED

in Rs.
Schedules to the Balance Sheet as at Sep 30, 2000Sep 30, 1999Mar 31, 2000
7LOANS AND ADVANCES
Unsecured, considered good
Advances recoverable in cash or
in kind or for value to be received:
prepaid expenses14,25,23,4976,84,65,02011,58,60,415
advances paid for supplies of goods and rendering of services4,68,10,7402,14,63,2403,10,07,019
others1,13,95,85799,19,2751,01,94,327
20,07,30,0949,98,47,53515,70,61,761
Costs in excess of billings32,54,234--
Advance income tax 84,61,76,88932,78,45,49654,40,96,353
Loans and advances to employees *
housing and other loans41,62,65,71629,17,85,54938,74,34,826
salary advances18,31,60,4937,62,14,76413,61,51,038
Other advances2,79,55,7551,64,81,0953,23,06,323
Rent and maintenance deposits9,18,07,3486,94,77,2967,84,24,995
Deposits with Financial Institutions / body corporate111,61,43,06576,11,62,93776,58,01,865
288,54,93,594164,28,14,672210,12,77,161
Unsecured, considered doubtful
Deposit with a company-1,19,02,331-
288,54,93,594165,47,17,003210,12,77,161
Less: Provision for doubtful loans and advances-1,19,02,331-
288,54,93,594164,28,14,672210,12,77,161
* includes due by non-director officers of the Company94,19,6311,67,22,3411,35,08,825
Maximum amounts due at any time during the period1,53,41,5241,77,89,7952,29,89,747
8CURRENT LIABILITIES
Sundry creditors
for goods20,51,44522,95,0194,25,90,239
for accrued salaries and benefits39,58,43,15718,67,09,81522,44,51,291
for other liabilities
provision for expenses13,16,84,9557,58,23,5687,67,74,570
retention monies10,88,93,2782,53,98,3414,91,19,373
withholding taxes payable--6,67,44,284
others3,56,75,3131,37,30,0911,47,21,153
67,41,48,14830,39,56,83447,44,00,910
Advances received from clients9,48,68,48338,63,0381,85,61,551
Unearned revenue73,48,39,45127,75,55,70417,56,71,963
Unclaimed dividend43,57,99524,38,60528,72,035
150,82,14,07758,78,14,18167,15,06,459
9PROVISIONS
Proposed dividend16,53,78,4189,92,08,20019,84,18,210
Provision for tax on dividend363,83,2521,09,12,9022,18,26,003
Provision for taxation95,45,64,48740,46,85,28162,60,19,742
Provision for contingencies-9,99,00,000-
Provision for e-inventing the Company-3,50,00,00039,00,977
Provision for post-sales client support6,32,39,5865,18,24,5565,51,91,028
Provision for gratuity--8,28,40,000
121,95,65,74370,15,30,93998,81,95,960