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18TH ANNUAL REPORT2006 - 07
blending
engineering and creativity
01
Abo
ut U
s
04
Busi
ness
Uni
ts
07
Boar
d of
Dire
ctor
s
09
Not
ice
of A
GM
13
Dire
ctor
s' R
epor
t
18
Corp
orat
e G
over
nanc
e Re
port
27
Man
agem
ent D
iscu
ssio
n &
Ana
lysi
s
31
Aud
itors
' Rep
ort
34
Bala
nce
Shee
t
35
Profi
t & L
oss
Acc
ount
36
Cas
h Fl
ow S
tate
men
t
37
Sche
dule
s
47
Bala
nce
Shee
t Abs
trac
t
155.
0
186.
9
236.
3
308.
4
050100
150
200
250
300
350
2004
2005
2006
2007
Turn
over
(Rs
. Cro
res)
2004
2005
2006
2007
17.5
26.3
34.3
52.1
0102030405060Profi
t afte
r tax
(Rs
. Cro
res)
2004
2005
2006
2007
40
55
6570
01020304050607080Div
iden
d (%
)
2004
2005
2006
2007
35.0
46.1
49.5
54.1
0102030405060Retu
rn o
n ca
pita
l em
ploy
ed (
%)
2004
2005
2006
2007
5.63
8.44
11.0
2
16.7
4
024681012141618Earn
ing
per s
hare
(Rs
.)
FINAN
CIAL
HIG
HLIG
HTS
CONT
ENTS
At Ta
ta El
xsi,
we h
ave c
reat
ed an
d fo
ster
ed a
cultu
re
embo
died
by cr
eativ
e tec
hnol
ogy,
best
-fit s
olut
ions
,
seam
less
del
ivery
, res
pons
ive p
eopl
e and
abid
ing
valu
es.
Toda
y we b
oast
of st
rong
com
pete
ncie
s acro
ss th
e
prod
uct d
esig
n lif
ecyc
le in
vert
icals
such
as au
tom
otive
,
stor
age,
cons
umer
elec
troni
cs, m
edia
, scie
ntifi
c
inst
rum
enta
tion,
sem
icond
ucto
rs, an
d ne
twor
king
and
com
mun
icatio
n…
abou
t us
01
Tata
Elx
si ha
s arc
hite
cted
solu
tions
w
ith to
ugh-
to-b
eat v
alue
: ful
l life
cy
cle
prod
uct d
esig
n se
rvic
es
(incl
udin
g ha
rdw
are,
softw
are,
en
clos
ures
and
em
bedd
ed
syst
ems)
; sty
ling
and
Clas
s A
surfa
cing
serv
ices
for a
utom
otiv
e in
dust
ry; a
nim
atio
n an
d vi
sual
eff
ects
for fi
lm, t
elev
ision
and
ga
mes
; and
syst
ems i
nteg
ratio
n se
rvic
es fo
r des
ign
tool
s, vi
sual
izat
ion,
adv
ance
d co
mpu
te
infra
stru
ctur
e, n
etw
orki
ng a
nd
stor
age
syst
ems,
and
med
ia a
nd
broa
dcas
t.
solu
tions
tech
nolo
gy
Sinc
e in
corp
orat
ion
in 1
989,
Tata
Elx
si ha
s bui
lt st
rong
com
pete
ncie
s acr
oss t
he p
rodu
ct
desig
n lif
ecyc
le in
ver
tical
s suc
h as
aut
omot
ive,
st
orag
e, c
onsu
mer
ele
ctro
nics
, med
ia, s
cien
tific
inst
rum
enta
tion,
sem
icon
duct
ors,
netw
orki
ng
and
com
mun
icat
ion.
The
com
pany
’s co
re p
ract
ices
enc
ompa
ss
Embe
dded
Pro
duct
Des
ign
Serv
ices
, Ind
ustr
ial
Des
ign
and
Engi
neer
ing,
Ani
mat
ion
and
Visu
al
Effec
ts, a
nd S
yste
ms I
nteg
ratio
n Se
rvic
es.
Tata
Elx
si br
ings
con
tem
pora
ry te
chno
logi
es to
cu
stom
ers t
hrou
gh p
artn
ersh
ips w
ith g
loba
l le
ader
s suc
h as
ARM
, TI,
Supe
rH, I
ntel
, M
icro
soft,
Tens
ilica
and
Xili
nx; a
nd a
llian
ces
with
stan
dard
s bod
ies s
uch
as F
lexR
ay, S
NIA
an
d U
PnP
Foru
m.
Tata
Elx
si pr
ovid
es e
xper
tise
in V
LSI d
esig
n,
embe
dded
softw
are,
net
wor
king
, tel
ecom
, m
ultim
edia
, sto
rage
, visu
al a
nd
high
-per
form
ance
com
putin
g, m
echa
nica
l pr
oduc
t des
ign
and
digi
tal c
onte
nt c
reat
ion.
Tata
Elx
si’s s
peci
alist
s hel
p bu
ild si
licon
, sys
tem
an
d so
ftwar
e la
yers
acr
oss p
rodu
ct li
fe c
ycle
s, co
mpl
emen
ted
by a
uni
que
IP p
ortfo
lio
com
prisi
ng re
usab
le so
ftwar
e co
mpo
nent
s and
re
ady-
to-d
eplo
y pr
oduc
t fra
mew
orks
.
Driv
en b
y a
pass
ion
for e
xcel
lenc
e an
d ba
cked
by
SEI
CM
Mi L
evel
5, I
SO 9
001:
200
0 an
d BS
779
9 ce
rtifi
ed p
roce
sses
, Tat
a El
xsi
acce
lera
tes c
usto
mer
s’ tim
e-to
-mar
ket w
hile
lo
wer
ing
desig
n ris
ks. T
ata
Elxs
i is t
he w
orld
’s fir
st c
ompa
ny to
be
cert
ified
at S
EI C
MM
i Lev
el
5 fo
r pro
duct
des
ign
wor
kflow
s – a
test
imon
y to
its q
ualit
y fo
cus.
peop
letec
hnolo
tech
nolog
yee
alues
vayysoo
lution
sss
deliv
dve
ryss
02
peop
leva
lues
deliv
ery
engi
neer
ing
crea
tivity
03
Tata
Elx
si is
driv
en b
y Tr
ust,
Qua
lity
and
Lead
ersh
ip –
the
valu
es
cham
pion
ed b
y th
e Ta
ta G
roup
for
over
a 1
00 y
ears
.
Tata
Elx
si is
a ca
ring
corp
orat
e ci
tizen
with
a so
lid h
istor
y of
de
mon
stra
ted
resp
onsib
ility
to th
e co
untr
ies,
com
mun
ities
and
en
viro
nmen
ts in
whi
ch it
ope
rate
s.
Wor
king
out
of 2
0 in
tern
atio
nal
office
s, fo
ur In
dia
deve
lopm
ent
cent
ers,
a st
ate-
of-t
he-a
rt
pre/
post
pro
duct
ion
cent
er in
M
umba
i for
visu
al e
ffect
s, a
rich
netw
ork
of 1
2 offi
ces a
cros
s In
dia
supp
ortin
g In
dian
cu
stom
ers,
and
a ne
ar-s
hore
ce
nter
in Ja
pan
– Ta
ta E
lxsi’
s te
chno
logi
sts o
ffer
time-
to-m
arke
t sol
utio
ns
seam
less
ly to
an
expa
ndin
g gl
obal
clie
nt-b
ase.
Hea
dqua
rter
ed in
Ban
galo
re, T
ata
Elxs
i is a
25
00+
com
bina
tion
of h
igh-
end
engi
neer
ing
and
crea
tive
min
ds –
left
and
right
bra
in th
inke
rs: s
oftw
are
and
hard
war
e en
gine
ers;
styl
ing
mec
hani
cal,
grap
hic
and
inte
rface
des
igne
rs, a
nim
ator
s an
d vi
sual
effe
cts e
xper
ts.
Rath
er th
an sp
read
ing
expe
rtise
thin
ly
acro
ss m
arke
ts a
nd in
dust
ries –
tryi
ng to
m
ean
ever
ythi
ng to
eve
ryon
e w
ith
mid
dle-
of th
e-ro
ad so
lutio
ns –
Elx
sians
do
wha
t the
y ar
e go
od a
t: cr
eativ
ity, d
esig
n an
d em
ergi
ng te
chno
logi
es.
Com
pete
nce
and
cont
ribut
ion
dete
rmin
e th
e ca
reer
traj
ecto
ry o
f eve
ry E
lxsia
n,
ensu
ring
ever
yone
find
s a p
lace
in a
th
rivin
g or
gani
zatio
n.
Embe
dded
Pro
duct
Des
ign
Serv
ices
Indu
stria
l Des
ign
and
Engi
neer
ing
Tata
Elx
si pr
ovid
es fu
ll se
rvic
e m
echa
nica
l pro
duct
des
ign
prog
ram
s to
glob
al
cust
omer
s in
tran
spor
tatio
n, F
MCG
, con
sum
er a
nd in
dust
rial e
lect
roni
cs, a
nd
appl
ianc
es se
ctor
s. Th
ese
incl
ude
com
plet
e de
sign
lifec
ycle
serv
ices
for n
ew
prod
uct d
evel
opm
ent c
over
ing
conc
ept i
deat
ion,
pro
duct
stra
tegy
, pro
toty
pe
deve
lopm
ent a
nd im
plem
enta
tion.
Thes
e m
echa
nica
l pro
duct
des
ign
prog
ram
s are
ena
bled
by
a la
rge
spec
ialis
t tea
m o
f ind
ustr
ial d
esig
ners
and
mec
hani
cal e
ngin
eers
, gra
phic
s and
br
and
desig
ners
em
ploy
ing
adva
nced
dig
ital s
tylin
g, C
AD to
ols
and
conc
urre
nt d
esig
n pr
oces
ses.
Tata
Elx
si’s E
mbe
dded
Pro
duct
Des
ign
Serv
ices
incl
udes
full
serv
ice
softw
are,
ha
rdw
are,
and
syst
em d
esig
n an
d de
velo
pmen
t pro
gram
s for
tech
nolo
gy
prod
ucts
. Em
bedd
ed P
rodu
ct D
esig
n Se
rvic
es o
ffers
a ri
ch p
ortfo
lio o
f re
usab
le so
ftwar
e co
mpo
nent
s, re
ady-
to-d
eplo
y pr
oduc
t fra
mew
orks
, lic
ensa
ble
IPs (
inte
llect
ual p
rope
rty)
and
pro
duct
dev
elop
men
t ser
vice
s. It
serv
ices
sect
ors s
uch
as a
utom
otiv
e, a
eros
pace
, con
sum
er p
rodu
cts,
netw
orki
ng, s
emic
ondu
ctor
s, m
ultim
edia
, tel
ecom
, sto
rage
and
in
stru
men
tatio
n w
ith c
ost e
ffect
ive
prod
uct e
ngin
eerin
g, ti
me-
to-m
arke
t ad
vant
age,
mul
ti-sit
e de
liver
y m
odel
and
qua
lity
stan
dard
s.
Tata
Elx
si dr
aws o
n its
cor
e do
mai
n an
d te
chno
logy
exp
ertis
e in
VLS
I des
ign,
em
bedd
ed so
ftwar
e, n
etw
orki
ng, t
elec
om, m
ultim
edia
, sto
rage
, visu
al a
nd
high
-per
form
ance
com
putin
g, m
echa
nica
l pro
duct
des
ign
and
digi
tal c
onte
nt
crea
tion.
busin
ess
uni
ts
04
Ani
mat
ion
and
Visu
al E
ffect
s
Visu
al C
ompu
ting
Labs
(VCL
) is a
n An
imat
ion,
Visu
al E
ffect
s and
Gam
e As
set B
uild
ing
faci
lity
serv
icin
g pr
oduc
tion
hous
es w
orld
wid
e, in
ters
ectin
g hi
gh c
reat
ivity
with
le
adin
g-ed
ge te
chno
logy
.
VCL
addr
esse
s its
cus
tom
ers’
pre-
prod
uctio
n, p
rodu
ctio
n an
d po
st-p
rodu
ctio
n re
quire
men
ts (i
nclu
ding
Cha
ract
er D
esig
n, A
sset
Bui
ldin
g, A
nim
atio
n, H
igh
end
Visu
al
Effec
ts, C
ompo
sitin
g, V
irtua
l Set
s).
VCL
boas
ts o
f a d
iver
se p
ortfo
lio o
f Hol
lyw
ood
prod
uctio
ns in
clud
ing
Spid
er-M
an 3
(fo
r Son
y Pi
ctur
es Im
agew
orks
), In
to th
e Bl
ue (f
or M
GM
), an
d O
ne N
ight
with
the
King
. Its
equ
ally
stro
ng In
dia
port
folio
com
prise
s of m
ovie
s suc
h as
Ta
Ra R
um P
um, K
abhi
A
lvid
a N
aa K
ehna
, Dho
om 2
, Fan
aa a
nd R
ang
De
Basa
nti.
VCL
has c
reat
ed 3
D a
nim
atio
n fo
r pop
ular
inte
rnat
iona
l tel
evisi
on se
ries a
nd c
omm
erci
als
for c
lient
s as d
iver
se a
s Cok
e, H
indu
stan
Lev
er, R
eebo
k an
d W
rigle
y.
Syst
ems
Inte
grat
ion
Serv
ices
Tata
Elx
si’s S
yste
ms I
nteg
ratio
n Se
rvic
es im
plem
ents
des
ign
solu
tions
in
the
auto
mot
ive,
aer
ospa
ce, e
nter
tain
men
t, m
anuf
actu
ring,
go
vern
men
t and
edu
catio
n se
gmen
ts. T
his i
s bac
ked
by a
net
wor
k of
offi
ces;
a te
am o
f spe
cial
ists i
n de
sign
tool
s, vi
sual
izat
ion,
com
pute
sy
stem
s, st
orag
e, a
nd n
etw
orki
ng; a
nd a
llian
ces w
ith w
orld
lead
ers.
Syst
ems I
nteg
ratio
n Se
rvic
es in
clud
es th
e Pr
ofes
siona
l Ser
vice
s Gro
up
(PSG
) tha
t fur
ther
ext
ends
serv
ices
to a
pplic
atio
ns, d
ata
min
ing,
fa
cilit
ies m
anag
emen
t, ne
twor
k m
anag
emen
t, st
orag
e co
nsul
tanc
y an
d m
anag
emen
t, an
d ov
erse
as su
ppor
t and
serv
ices
.
05
02
Our
Cha
irman
, Mr.
Syam
al G
upta
rece
ives
a m
emen
to
from
Mr.
Rata
n Ta
ta, G
roup
Cha
irman
on
his c
ompl
etio
n of
50
year
s w
ith th
e Ta
ta G
roup
.
50 G
LORI
OU
S YE
ARS
WIT
H T
HE
TATA
GRO
UP
07
Mr.
S Ra
mad
orai
Mr.
Syam
al G
upta
Mr.
Cyr
us
Pallo
nji
Mis
try
Mr.
E A
K F
aizu
llab
hoy
Mr.
Ho
shie
Mal
gh
am
Mr.
Patr
ick
McG
old
rick
Mr.
Piyu
sh G
Man
kad
Mr.
Sujit
Gu
pta
Mr.
Mad
huka
r Dev
Dr.
R N
atar
ajan
Boar
d O
f D
irect
ors
BOA
RD O
F D
IREC
TORS
Syam
al G
upta
Ch
airm
an
S Ra
mad
orai
Vi
ce C
hairm
an
E A
K F
aizu
llabh
oy
Sujit
Gup
ta
H H
Mal
gham
P
G M
anka
d P
McG
oldr
ick
C P
Mis
try
Dr.
R N
atar
ajan
M
adhu
kar D
ev
Man
agin
g D
irect
or
STAT
UTO
RY C
OM
MIT
TEES
(P
ursu
ant t
o th
e Li
stin
g Ag
reem
ent w
ith th
e St
ock
Exch
ange
s)
AU
DIT
CO
MM
ITT
EE
H H
Mal
gham
Ch
airm
an
S Ra
mad
orai
E
A K
Fai
zulla
bhoy
INV
ES
TO
R G
RIE
VA
NC
E C
OM
MIT
TE
E
E A
K F
aizu
llabh
oy
Chai
rman
H
H M
algh
amP
G M
anka
d
Vija
y Kr
ishn
amur
thy
CFO
& C
ompa
ny S
ecre
tary
Re
gis
tra
rs &
Sh
are
Tra
ns
fer
Ag
en
ts
TSR
Dar
asha
w L
imite
d 6-
10, H
aji M
oosa
Pat
raw
ala
Ind.
Est
ate
20, D
r. E.
Mos
es R
oad
Mah
alax
mi,
Mum
bai -
400
011
Au
dit
ors
M/s
. RSM
& C
o.Ch
arte
red
Acco
unta
nts
Re
gis
tere
d &
Co
rpo
rate
Offi
ce
ITPB
Roa
d, W
hite
field
, Ban
galo
re -
560
048,
Indi
a
08
Glo
bal o
ffice
s
ITPB
Roa
d W
hite
field
Ban
galo
re 5
60 0
48 I
ndia
Te
l +9
1 80
229
7 91
23
| F
ax +
91 8
0 22
97 1
474
|
e-m
ail
info
@ta
tael
xsi.c
omw
ww
.tata
elxs
i.com
9
NO
TIC
EN
otic
e is
her
eby
give
n th
at th
e E
IGH
TE
EN
TH
AN
NU
AL
GE
NE
RA
L M
EE
TIN
G o
f TA
TA
EL
XS
I L
IMIT
ED
will
be
held
at S
t. Jo
hn’s
Aud
itoriu
m, 1
00Fe
et R
oad,
opp
. BD
A C
ompl
ex, K
oram
anga
la, B
anga
lore
560
034
on
27th
July
, 200
7 at
12.
00 n
oon
to tr
ansa
ct th
e fo
llow
ing
busi
ness
:
1.To
rece
ive
and
adop
t the
Dire
ctor
s’ Re
port
and
the
Audi
ted
Prof
it an
d Lo
ss A
ccou
nt fo
r the
yea
r end
ed M
arch
31,
200
7 an
d th
e Ba
lanc
eSh
eet a
s at
that
dat
e an
d th
e Au
dito
r’s R
epor
t the
reon
.
2.To
dec
lare
div
iden
d fo
r the
yea
r end
ed 3
1st M
arch
, 200
7.
3.To
app
oint
a D
irect
or in
pla
ce o
f Mr.
S. R
amad
orai
who
retir
es b
y ro
tatio
n an
d is
elig
ible
for r
eapp
oint
men
t.
4.To
app
oint
a D
irect
or in
pla
ce o
f Mr.
H. H
. Mal
gham
who
retir
es b
y ro
tatio
n an
d is
elig
ible
for r
eapp
oint
men
t.
5.To
app
oint
a D
irect
or in
pla
ce o
f Mr.
C. P
. Mis
try
who
retir
es b
y ro
tatio
n an
d is
elig
ible
for r
eapp
oint
men
t.
SP
EC
IAL
BU
SIN
ES
S
6.To
con
side
r and
if th
ough
t fit,
to p
ass,
with
or w
ithou
t mod
ifica
tion,
the
follo
win
g re
solu
tion
as a
n O
rdin
ary
Reso
lutio
n:
“RES
OLV
ED t
hat
in p
arti
al m
odifi
cati
on o
f th
e re
solu
tion
s pa
ssed
at
the
Ann
ual
Gen
eral
Mee
ting
s of
the
Com
pany
hel
d on
22nd
Jul
y, 2
005
and
28th
Jul
y, 2
006,
and
pur
suan
t to
the
prov
isio
ns o
f Sec
tions
198
, 269
, 30
9, 3
10,
Sche
dule
XIII
and
oth
er a
pplic
able
pro
visi
ons,
if
any,
of
the
Com
pan
ies
Act
, 19
56 t
he C
omp
any
here
by
app
rove
s th
e an
nual
rev
isio
n in
the
bas
ic s
alar
y of
Mr.
Mad
huka
r Dev
, Man
agin
g D
irect
or to
Rs.1
65,0
00/-
p.m
. fro
m 1
6th
Janu
ary,
200
7 til
l 15t
h Ja
nuar
y, 2
008,
with
such
ben
efits
, per
quis
ites
and
allo
wan
ces a
s may
be
dete
rmin
ed b
y th
e Bo
ard
from
tim
e to
tim
e an
d an
nual
ince
ntiv
e re
mun
erat
ion/
com
mis
sion
bas
ed o
n ce
rtai
npe
rfor
man
ce c
riter
ia p
resc
ribed
by
the
Boar
d”.
7.To
con
side
r and
if th
ough
t fit,
to p
ass,
with
or w
ithou
t mod
ifica
tion,
the
follo
win
g re
solu
tion
as a
n O
rdin
ary
Reso
lutio
n:
“RES
OLV
ED p
ursu
ant
to t
he p
rovi
sion
s of
Sec
tions
224
, 225
and
oth
er a
pplic
able
pro
visi
ons,
if an
y, o
f the
Com
pani
es A
ct, 1
956,
tha
tM
/s D
eloi
tte
Has
kins
& S
ells
, Cha
rter
ed A
ccou
ntan
ts, b
e an
d ar
e he
reby
app
oint
ed a
s St
atut
ory
Audi
tors
of t
he C
ompa
ny in
pla
ce o
f the
retir
ing
Aud
itors
, M/s
RSM
& C
o., t
o ho
ld o
ffice
from
the
conc
lusi
on o
f thi
s Ann
ual G
ener
al M
eetin
g to
the
conc
lusi
on o
f the
nex
t Ann
ual
Gen
eral
Mee
ting
and
to e
xam
ine
and
audi
t the
acc
ount
s of t
he C
ompa
ny fo
r the
Fin
anci
al Y
ear 2
007-
08 a
t a re
mun
erat
ion
to b
e de
cide
dby
the
Boar
d of
Dire
ctor
s an
d re
ason
able
out
of p
ocke
t exp
ense
s in
curr
ed b
y th
em in
con
nect
ion
with
the
audi
t”.
By
Ord
er
of
the
Bo
ard
of
Dir
ec
tors
For T
AT
A E
LX
SI
LIM
ITE
D
VIJ
AY
KR
ISH
NA
MU
RT
HY
Chie
f Fin
anci
al O
ffice
r&
Com
pany
Sec
reta
ry
Mum
bai,
20th
Apr
il, 2
007,
Re
gis
tere
d O
ffic
e :
ITPB
Roa
d, W
hite
field
,Ba
ngal
ore
560
048.
NO
TE
S :
a)Th
e re
leva
nt d
etai
ls in
resp
ect o
f ite
m N
os. 3
to 5
abo
ve p
ursu
ant t
o Cl
ause
49
of th
e Li
stin
g A
gree
men
t are
ann
exed
her
eto.
b)A
MEM
BER
ENTI
TLED
TO
ATT
END
AN
D V
OTE
IS E
NTI
TLED
TO
APP
OIN
T A
PRO
XY T
O A
TTEN
D A
ND
VO
TE IN
STEA
D O
F H
IMSE
LF A
ND
TH
EPR
OXY
NEE
D N
OT
BE A
MEM
BER.
c)M
embe
rs d
esiro
us o
f get
ting
any
info
rmat
ion
in re
spec
t of A
ccou
nts
of th
e Co
mpa
ny a
re re
ques
ted
to s
end
thei
r que
ries
in w
ritin
g to
the
Com
pany
at t
he R
egis
tere
d O
ffice
so
as to
reac
h at
leas
t 7 d
ays
befo
re th
e da
te o
f the
Mee
ting
so th
at th
e re
quire
d in
form
atio
n ca
nbe
mad
e av
aila
ble
at th
e M
eetin
g.
d)M
embe
rs /
Prox
ies a
tten
ding
the
Mee
ting
are
requ
este
d to
brin
g th
eir c
opy
of th
e A
nnua
l Rep
ort f
or re
fere
nce
at th
e M
eetin
g as
als
o th
eAt
tend
ance
Slip
dul
y fil
led
in fo
r att
endi
ng th
e M
eetin
g.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
10
e)Th
e Re
gist
er o
f Mem
bers
and
Tra
nsfe
r Boo
ks o
f the
Com
pany
will
be
clos
ed fr
om 1
7th
July
, 200
7 to
27t
h Ju
ly, 2
007
(bot
h da
tes i
nclu
sive
)fo
r the
pur
pose
of d
eter
min
ing
the
shar
ehol
ders
ent
itled
to th
e pa
ymen
t of D
ivid
end
decl
ared
, if a
ny, a
t the
Ann
ual G
ener
al M
eetin
g on
27th
July
, 200
7 fo
r the
yea
r end
ed M
arch
31,
200
7.
Div
iden
d on
shar
es, w
hen
decl
ared
, will
be
paid
onl
y to
thos
e m
embe
rs w
hose
nam
es a
re re
gist
ered
as s
uch
in th
e Re
gist
er o
f Mem
bers
of t
he
Com
pan
y af
ter
giv
ing
eff
ect
to v
alid
sh
are
tran
sfer
s in
phy
sica
l fo
rm l
odg
ed w
ith
th
e C
omp
any
on o
r b
efor
e16
th Ju
ly, 2
007
and
to th
e Be
nefic
ial H
olde
rs a
s pe
r the
Ben
efic
iary
Lis
t as
on 1
6th
July
, 200
7, p
rovi
ded
by th
e N
SDL
and
CDSL
.
f)M
embe
rs h
oldi
ng s
hare
s in
ele
ctro
nic
form
may
ple
ase
note
tha
t as
per
the
regu
latio
ns o
f Nat
iona
l Sec
uriti
es D
epos
itory
Ltd
. (N
SDL)
and
Cent
ral D
epos
itory
Ser
vice
s (In
dia)
Ltd
. (CD
SL),
the
Com
pany
is o
blig
ed to
prin
t the
ban
k de
tails
on
the
divi
dend
war
rant
s as f
urni
shed
by t
hese
Dep
osito
ries
to t
he C
ompa
ny a
nd t
he C
ompa
ny c
anno
t en
tert
ain
any
requ
est
for
dele
tion
/ ch
ange
of b
ank
deta
ils a
lread
ypr
inte
d on
div
iden
d w
arra
nts
as p
er in
form
atio
n re
ceiv
ed fr
om t
he c
once
rned
Dep
osito
ries.
In t
his
rega
rd, M
embe
rs s
houl
d co
ntac
tth
eir D
epos
itory
Par
ticip
ant (
DP)
and
furn
ish
part
icul
ars
of a
ny c
hang
es d
esire
d by
them
.
g)
Me
mb
ers
wh
o h
av
e n
ot
rec
eiv
ed
th
eir
div
ide
nd
pa
id b
y t
he
Co
mp
an
y i
n r
esp
ec
t o
f e
arl
ier
ye
ars
are
re
qu
est
ed
to
ch
ec
k w
ith
th
e
Co
mp
an
y’s
Re
gis
tra
rs &
Tra
ns
fer
Ag
en
ts i
.e.
M/s
. T
SR
Da
ras
ha
w L
imit
ed
, 6
-10
Ha
ji M
oo
sa
Pa
tra
wa
la I
nd
us
tria
l E
sta
te,
20
, D
r. E
. M
ose
s R
oa
d,
Ma
ha
lax
mi,
Mu
mb
ai
40
0 0
11
. M
em
be
rs a
re r
eq
ue
ste
d t
o n
ote
th
at
in t
erm
s o
f S
ec
tio
n 2
05
C o
f th
e
Co
mp
an
ies
Ac
t, 1
95
6 a
ny
div
ide
nd
un
pa
id /
un
cla
ime
d f
or
a p
eri
od
of
7 y
ea
rs f
rom
th
e d
ate
th
ese
fir
st b
ec
am
e d
ue
fo
r p
ay
me
nt
are
re
qu
ire
d t
o b
e t
ran
sfe
rre
d t
o t
he
Ce
ntr
al
Go
ve
rnm
en
t to
th
e c
red
it o
f th
e I
nv
est
or
Ed
uc
ati
on
& P
rote
cti
on
Fu
nd
. Th
ere
aft
er,
no
cla
im s
ha
ll b
e e
nte
rta
ine
d i
n r
esp
ec
t o
f th
e d
ivid
en
d t
ran
sfe
rre
d t
o t
he
Fu
nd
.
Me
mb
ers
wh
o h
av
e n
ot
ye
t e
nc
as
he
d t
he
ir d
ivid
en
ds
fo
r th
e f
ina
nc
ial
ye
ar
en
de
d 3
1s
t M
arc
h,
20
00
on
wa
rds
are
be
ing
ind
ivid
ua
lly
in
tim
ate
d a
nd
are
re
qu
est
ed
to
ma
ke
th
eir
cla
ims
to t
he
Co
mp
an
y’s
Re
gis
tra
rs &
Tra
nsf
er
Ag
en
ts a
cco
rdin
gly
,
wit
ho
ut
un
du
e d
ela
y.
It m
ay
be
no
ted
th
at
the
un
cla
ime
d d
ivid
en
d f
or
the
fin
an
cia
l y
ea
r e
nd
ed
31
st
Ma
rch
, 2
00
0 a
nd
31
st
Ma
rch
, 2
00
1
are
d
ue
fo
r tr
an
sfe
r to
th
e
Inv
es
tor
Ed
uc
ati
on
&
P
rote
cti
on
F
un
d
on
2
5th
J
un
e,
20
07
a
nd
6th
Oc
tob
er,
20
08
re
spe
cti
ve
ly.
Ex
pla
na
tory
Sta
tem
en
t p
urs
ua
nt
to S
ec
tio
n 1
73
of
the
Co
mp
an
ies
Ac
t, 1
95
6
Ite
m N
o.
6
The
Mem
bers
had
, at t
he A
nnua
l Gen
eral
Mee
tings
hel
d on
22n
d Ju
ly, 2
005
and
28th
July
, 200
6, fi
xed
Rs.1
50,0
00 p
.m. a
s th
e m
axim
um c
eilin
gon
the
mon
thly
bas
ic sa
lary
of M
r. M
adhu
kar D
ev, M
anag
ing
Dire
ctor
, with
libe
rty
to th
e Bo
ard
to d
ecid
e th
e an
nual
revi
sion
s the
reto
, alo
ngw
ithbe
nefit
s, pe
rqui
site
s an
d al
low
ance
s su
bjec
t to
the
max
imum
spe
cifie
d pe
rcen
tage
of h
is a
nnua
l sal
ary
and
annu
al in
cent
ive
rem
uner
atio
n/co
mm
issi
on b
ased
on
cert
ain
perf
orm
ance
crit
eria
pre
scrib
ed b
y th
e Bo
ard,
and
as m
ay b
e de
term
ined
by
the
Boar
d fr
om ti
me
to ti
me,
with
inth
e ov
eral
l lim
its p
resc
ribed
und
er S
ectio
n 19
8, 2
69, 3
09, 3
10, S
ched
ule
XIII
and
othe
r app
licab
le p
rovi
sion
s, if
any,
of t
he C
ompa
nies
Act
, 195
6.
The
Rem
uner
atio
n Co
mm
ittee
of t
he B
oard
of D
irect
ors a
t the
ir m
eetin
g on
15t
h M
arch
, 200
7 an
d su
bseq
uent
ly th
e Bo
ard
at th
eir m
eetin
g on
26th
Mar
ch, 2
007,
app
rove
d an
ann
ual r
evis
ion
in th
e ba
sic
sala
ry o
f Mr.
Dev
to R
s.165
,000
/- p
.m. e
ffect
ive
16th
Jan
uary
, 200
7, s
ubje
ct to
the
Mem
bers
app
rova
l at
the
fort
hcom
ing
Ann
ual G
ener
al M
eetin
g. T
he M
embe
rs a
ppro
val i
s no
w b
eing
sou
ght
to r
evis
e th
e m
onth
ly b
asic
sala
ry o
f Mr.
Dev
in e
xces
s of
the
ceili
ng e
arlie
r fix
ed b
y th
e M
embe
rs, w
ith c
onse
quen
tial i
mpa
ct o
n th
e be
nefit
s, pe
rqui
site
s an
d al
low
ance
san
d an
nual
ince
ntiv
e re
mun
erat
ion/
com
mis
sion
pay
able
to M
r. D
ev.
Not
with
stan
ding
any
thin
g to
the
cont
rary
her
ein
cont
aine
d, w
here
in a
ny fi
nanc
ial y
ear d
urin
g th
e cu
rren
cy o
f Mr.
Dev
’s te
nure
, the
Com
pany
has
no p
rofit
s or
its
prof
its a
re in
adeq
uate
, the
Com
pany
will
pay
rem
uner
atio
n by
way
of s
alar
y, p
erqu
isite
s an
d al
low
ance
s an
d in
cent
ive
rem
uner
atio
n, a
s sp
ecifi
ed a
bove
.
The
Boar
d co
mm
ends
the
Reso
lutio
n fo
r app
rova
l by
the
Mem
bers
.
Non
e of
the
Dire
ctor
s of
the
Com
pany
exc
ept M
r. D
ev is
con
cern
ed o
r int
eres
ted
in th
e af
ores
aid
revi
sion
.
11
Ite
m N
o.
7
The
Com
pany
has
rece
ived
a s
peci
al n
otic
e fr
om a
mem
ber p
ursu
ant t
o Se
ctio
n 22
5 re
ad w
ith S
ectio
n 19
0 of
the
Com
pani
es A
ct, 1
956
and
Artic
le 1
32 o
f the
Com
pany
’s A
rtic
les
of A
ssoc
iatio
n, p
ropo
sing
the
app
oint
men
t of
M/s
Del
oitt
e H
aski
ns &
Sel
ls (m
embe
r firm
of D
eloi
tte’
s,on
e of
the
Big
4 g
loba
l acc
ount
ing
firm
s) a
s th
e St
atut
ory
Aud
itors
to
hold
offi
ce fr
om t
he c
oncl
usio
n of
the
fort
hcom
ing
Ann
ual G
ener
alM
eetin
g til
l the
con
clus
ion
of t
he f
ollo
win
g A
nnua
l Gen
eral
Mee
ting
of t
he C
ompa
ny. T
he r
equi
site
cer
tific
ate
has
been
obt
aine
d fr
omM
/s D
eloi
tte
Has
kins
& S
ells
that
thei
r app
oint
men
t, if
mad
e, w
ould
be
with
in th
e lim
its p
resc
ribed
und
er S
ectio
n 22
4(1B
) of t
he C
ompa
nies
Act,
1956
and
that
they
are
not
dis
qual
ified
in a
ny w
ay in
term
s of
Sec
tion
226
of th
e Co
mpa
nies
Act
, 195
6 fr
om a
ppoi
ntm
ent a
s th
e au
dito
rsof
the
Com
pany
.
The
Boar
d of
Dire
ctor
s of
you
r Co
mpa
ny a
ccep
ted
the
reco
mm
enda
tions
of t
he A
udit
Com
mitt
ee t
o ap
poin
t M
/s D
eloi
tte
Has
kins
& S
ells
,Ch
arte
red
Acc
ount
ants
, as
the
stat
utor
y au
dito
rs o
f the
Com
pany
, as
abov
e.
Non
e of
the
Dire
ctor
s of
the
Com
pany
is c
once
rned
or i
nter
este
d in
this
reso
lutio
n.
By
Ord
er
of
the
Bo
ard
of
Dir
ec
tors
For T
AT
A E
LX
SI
LIM
ITE
D
VIJ
AY
KR
ISH
NA
MU
RT
HY
Chie
f Fin
anci
al O
ffice
r&
Com
pany
Sec
reta
ry
Mum
bai,
20th
Apr
il, 2
007,
Re
gis
tere
d O
ffic
e :
ITPB
Roa
d, W
hite
field
,Ba
ngal
ore
560
048.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
12
AN
NE
XU
RE
Na
me
of
the
Dir
ec
tor
S.
Ra
ma
do
rai
H.H
. M
alg
ha
mC
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Mis
try
Dat
e of
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h O
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22nd
Jun
e, 1
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4th
July
, 196
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Dat
e of
app
oint
men
t26
th J
une,
199
526
th A
pril,
200
124
th S
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r, 19
90
Spec
ialis
ed E
xper
tise
Info
rmat
ion
Tech
nolo
gy &
Fina
nce,
Com
mer
cial
Law
&G
ener
alM
anag
emen
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ener
al M
anag
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Qua
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ectr
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ivil)
; Mas
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f Sci
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mun
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ngla
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in M
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ondo
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Com
pute
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usin
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Scho
ol
Dire
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ship
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oth
erTa
ta In
dust
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s Lt
d.Sh
apoo
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Co.
Ltd
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mpa
nies
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Tata
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s Lt
d.Ta
ta P
roje
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Ltd.
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td.
at 3
1st M
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dvan
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td.
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BP
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td.
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Ltd
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are
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Inte
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iona
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nsul
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dia
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indu
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Ltd
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sulta
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fras
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Cap
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dia)
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ahar
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td.
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mit
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mitt
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ta T
echn
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ies
Ltd.
Tata
Pro
ject
s Lt
d.Sh
apoo
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td.
as a
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Tata
BP
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ia L
td.
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mb
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it C
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mit
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Me
mb
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ever
Ltd
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ta C
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Ltd.
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mb
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are
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nv
es
tor
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Co
mm
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Tata
Con
sulta
ncy
Serv
ices
Ltd
.
No.
of s
hare
s he
ld in
the
1,00
01,
000
—Co
mpa
ny a
s on
31st
Mar
ch, 2
007
*Ex
clud
es p
rivat
e/fo
reig
n co
mpa
nies
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nly
Aud
it an
d Sh
areh
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vest
or G
rieva
nce
Com
mitt
ee c
onsi
dere
d
Info
rmat
ion
purs
uant
to C
laus
e 49
of t
he L
istin
g A
gree
men
t reg
ardi
ng a
ppoi
ntm
ent o
f a n
ew D
irect
or o
r rea
ppoi
ntm
ent o
f a D
irect
or
13
1.
Your
Dire
ctor
s pr
esen
t the
Eig
htee
nth
Ann
ual R
epor
t tog
ethe
r with
the
audi
ted
Stat
emen
ts o
f Acc
ount
s of
you
r Com
pany
for t
he y
ear
ende
d 31
st M
arch
, 200
7.
2.
Fin
anci
al H
igh
ligh
ts
Dur
ing
the
finan
cial
yea
r 200
6-07
, the
ope
ratio
ns o
f the
Com
pany
resu
lted
in th
e fo
llow
ing
:
(Rs.
Cro
res)
20
06
-07
2005
-06
Sale
s an
d Se
rvic
e3
07
.96
235.
63
Oth
er in
com
e0
.42
0.68
To
tal
Inc
om
e3
08
.38
236.
31
Prof
it be
fore
fina
ncia
l exp
ense
s an
d de
prec
iatio
n6
9.5
147
.35
Less
: Fi
nanc
ial e
xpen
ses
0.2
90.
22
Dep
reci
atio
n8
.69
6.73
Ne
t p
rofi
t fo
r th
e y
ea
r6
0.5
340
.40
Less
:Pr
ovis
ion
for I
ncom
e ta
x8
.41
6.07
Pro
fit
aft
er
tax
52
.12
34.3
3
Add
:Pro
fit b
roug
ht fo
rwar
d2
0.1
912
.94
Ba
lan
ce
av
ail
ab
le f
or
ap
pro
pri
ati
on
wh
ich
ha
s b
ee
n a
pp
rop
ria
ted
as
un
de
r :
72
.31
47.2
7
Div
iden
d2
1.8
020
.24
Div
iden
d Ta
x th
ereo
n3
.70
2.84
Tran
sfer
to G
ener
al R
eser
ve6
.00
4.00
Bala
nce
of P
rofit
car
ried
to B
alan
ce S
heet
40
.81
20.1
9
Tota
l App
ropr
iatio
ns7
2.3
147
.27
3.
Div
ide
nd
Your
Dire
ctor
s re
com
men
d fo
r yo
ur a
ppro
val a
div
iden
d of
70%
(Rs.
7 pe
r sh
are)
[pre
viou
s ye
ar 6
5% (R
s. 6.
50) p
er s
hare
] for
the
yea
ren
ded
31st
Mar
ch, 2
007,
invo
lvin
g an
out
go o
f Rs.
21.
80 c
rore
s (pr
evio
us y
ear R
s. 20
.24
cror
es).
Add
ition
ally
, div
iden
d di
strib
utio
n ta
x at
16.9
9% (p
revi
ous
year
: 14.
03%
) (in
clud
ing
surc
harg
e) w
ill in
volv
e an
out
lay
of R
s. 3.
70 c
rore
s (p
revi
ous
year
Rs.
2.84
cro
re).
4.
Re
vie
w o
f O
pe
rati
on
s
Your
Com
pany
del
iver
s te
chno
logy
ser
vice
s to
glo
bal c
usto
mer
s in
var
ious
indu
strie
s.Yo
ur C
ompa
ny h
as a
ctiv
ely
purs
ued
reve
nue
grow
th in
all
its b
usin
ess
area
s, t
hrou
gh a
num
ber
of s
trat
egie
s in
clud
ing
geog
raph
yex
pans
ion,
hig
h-va
lue
serv
ices
in n
ew t
echn
olog
y ar
eas,
and
cons
tant
rev
iew
and
enh
ance
men
t of
all
serv
ice
area
s to
ena
ble
dept
h,co
mpl
eten
ess
and
cust
omer
val
ue in
its
serv
ices
and
sol
utio
ns p
ortf
olio
.As
you
r Com
pany
con
tinue
s to
exp
and
its g
loba
l geo
grap
hica
l rea
ch a
nd o
vers
eas
cust
omer
bas
e, it
con
tinue
s to
face
indu
stry
rela
ted
chal
leng
es s
uch
as d
elay
s in
vis
a pr
oces
sing
and
trav
el o
f eng
inee
ring
pers
onne
l for
ove
rsea
s cu
stom
er p
roje
cts,
and
fore
ign
curr
ency
exch
ange
rate
risk
s co
ncom
itant
with
ope
ratin
g in
diff
eren
t cou
ntrie
s.Th
ere
is a
con
tinue
d tr
end
for
pote
ntia
l ove
rsea
s cu
stom
ers
to s
et u
p su
bsid
iarie
s an
d au
gmen
t en
gine
erin
g st
aff
in c
aptiv
e In
dia
deve
lopm
ent c
ente
rs, t
here
by c
urta
iling
pot
entia
l eng
agem
ent o
ppor
tuni
ties
for y
our C
ompa
ny in
add
ress
ing
thei
r ove
rsea
s pr
oduc
ten
gine
erin
g ne
eds.
Your
Com
pany
con
sequ
ently
see
ks t
o en
gage
with
the
se s
ubsi
diar
ies
for
loca
l out
sour
cing
and
acc
eler
atin
g th
eir
deliv
ery
requ
irem
ents
.Th
ere
is a
gro
win
g tr
end
of e
xist
ing
IT a
nd IT
-ena
bled
com
pani
es in
itiat
ing
serv
ices
del
iver
y in
out
sour
ced
R &
D a
nd p
rodu
ct e
ngin
eerin
gw
ith a
vie
w to
exp
and
thei
r por
tfol
io o
fferin
gs a
nd a
ccel
erat
e gr
owth
, the
reby
add
ing
to c
ompe
titio
n an
d pr
essu
re o
n sk
illed
man
pow
erav
aila
bilit
y an
d w
age
bills
.
DIR
EC
TO
RS
’ R
EP
OR
T T
O T
HE
ME
MB
ER
S
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
14
Tech
nolo
gy o
bsol
esce
nce
is a
noth
er k
ey c
halle
nge,
as
the
indu
stry
sec
tors
tar
gete
d by
you
r Co
mpa
ny, a
dopt
new
and
em
ergi
ngte
chno
logi
es, r
equi
ring
empl
oyee
re-t
rain
ing
and
cont
inuo
us t
echn
olog
y sk
ills
upgr
adat
ion.
Your
Com
pany
man
ages
crit
ical
issu
es o
f in
crea
sing
sca
le, b
illab
ility
and
pro
duct
ivity
by
impl
emen
ting
key
stra
tegi
es fo
r em
ploy
eere
tent
ion
and
augm
enta
tion,
in-h
ouse
tec
hnol
ogy
expe
rtis
e de
velo
pmen
t, co
ntin
uous
tra
inin
g pr
ogra
ms,
and
long
-ter
m c
apac
itybu
ildin
g th
roug
h th
e se
ttin
g up
of n
ew d
eliv
ery
cent
ers
in In
dia
and
over
seas
, and
aug
men
tatio
n of
exi
stin
g de
velo
pmen
t cen
ters
.M
ore
deta
ils a
re s
et o
ut in
the
atta
ched
Man
agem
ent D
iscu
ssio
n an
d A
naly
sis
Stat
emen
t.A
bus
ines
s-w
ise
anal
ysis
of y
our C
ompa
ny’s
two
mai
n se
gmen
ts v
iz. S
oftw
are
Dev
elop
men
t & S
ervi
ces a
nd S
yste
ms I
nteg
ratio
n &
Supp
ort
follo
ws
here
unde
r.S
oft
wa
re D
ev
elo
pm
en
t &
Se
rvic
es
:
The
busi
ness
es c
onst
itutin
g th
is s
egm
ent a
re E
mbe
dded
Pro
duct
Des
ign
Serv
ices
(Des
ign
& D
evel
opm
ent o
f Har
dwar
e an
d So
ftw
are)
,In
dust
rial D
esig
n an
d En
gine
erin
g (M
echa
nica
l Des
ign
with
a fo
cus
on In
dust
rial D
esig
n) a
nd A
nim
atio
n an
d Vi
sual
Effe
cts
(Ani
mat
ion
and
Spec
ial E
ffect
s).
This
bus
ines
s se
gmen
t gr
ew t
o Rs
. 262
.58
cror
es d
urin
g 20
06-0
7 fr
om R
s. 18
8.82
cr.
in t
he p
revi
ous
year
with
corr
espo
ndin
g in
crea
se in
the
segm
ent r
esul
ts to
Rs.
61.6
6 cr
. fro
m R
s. 40
.47
cr.
Em
be
dd
ed
Pro
du
ct
De
sig
n S
erv
ice
s :
Your
Com
pany
’s Em
bedd
ed P
rodu
ct D
esig
n Se
rvic
es s
erve
s ha
rdw
are
and
embe
dded
sof
twar
e de
sign
and
dev
elop
men
t req
uire
men
tsof
a v
arie
ty o
f ind
ustr
ies
such
as
Auto
mot
ive,
Con
sum
er E
lect
roni
cs, N
etw
orki
ng, S
emic
ondu
ctor
s, Te
leco
m a
nd S
tora
ge.
Har
dwar
e de
sign
and
dev
elop
men
t : Y
our
Com
pany
des
igns
and
dev
elop
s va
rious
typ
es o
f in
tegr
ated
ele
ctro
nic
circ
uits
, inc
ludi
ngA
SICs
and
FPG
As.
Serv
ices
ext
end
to fu
ll su
bsys
tem
and
com
plet
e pr
oduc
t dev
elop
men
t acr
oss
a br
oad
spec
trum
of t
echn
olog
y ar
eas.
Soft
war
e sy
stem
des
ign
and
deve
lopm
ent
: You
r Co
mpa
ny p
rovi
des
for
the
deve
lopm
ent
of v
ario
us la
yers
of
embe
dded
sof
twar
e,in
clud
ing
firm
war
e, m
iddl
ewar
e, c
onne
ctiv
ity a
nd c
omm
unic
atio
n pr
otoc
ols,
real
-tim
e co
ntro
ls a
nd a
pplic
atio
ns.
Dur
ing
the
year
, you
r Com
pany
est
ablis
hed
a ne
ar-s
hore
dev
elop
men
t cen
ter i
n Ja
pan
to a
id c
usto
mer
acc
ess t
o ke
y te
chni
cal r
esou
rces
,co
mm
unic
atio
ns a
nd p
roje
ct e
xecu
tion.
Capa
city
has
bee
n au
gmen
ted
on a
con
tinui
ng b
asis
at i
ts e
xist
ing
cent
ers i
n Ba
ngal
ore,
Pun
e an
d Ch
enna
i, w
hile
con
stru
ctio
n of
a n
ewca
mpu
s in
Tec
hnop
ark
has
been
com
mis
sion
ed fo
r its
exi
stin
g ce
nter
in T
hiru
vana
ntha
pura
m w
hich
is c
urre
ntly
ope
ratin
g fr
om h
ired
prem
ises
. Th
is n
ew c
ampu
s, sc
hedu
led
for p
hase
d co
mpl
etio
n th
roug
h 20
07-0
9, w
ill p
rovi
de c
apac
ity a
nd w
orld
-cla
ss in
fras
truc
ture
on
com
plet
ion.
Ind
ust
ria
l D
esi
gn
an
d E
ng
ine
eri
ng
:
This
Div
isio
n ad
dres
ses
indu
stria
l des
ign
and
styl
ing,
and
bra
ndin
g re
quire
men
ts o
f cu
stom
ers
in a
utom
otiv
e, c
onsu
mer
pro
duct
s,FM
CG a
nd m
edic
al d
evic
es in
dust
ries.
This
bus
ines
s ha
s de
liver
ed s
usta
ined
gro
wth
, with
new
cus
tom
er a
dditi
ons
in e
ach
of th
e ta
rget
indu
strie
s.Th
e D
ivis
ion
has
adde
d hu
man
mac
hine
inte
rfac
e de
sign
cap
abili
ties
to e
nhan
ce it
s se
rvic
es p
ortf
olio
and
add
to it
s cu
stom
er b
ase.
Vis
ua
l C
om
pu
tin
g L
ab
s (A
nim
ati
on
an
d V
isu
al
Eff
ec
ts)
:
VCL
deliv
ers 3
D co
mpu
ter g
raph
ics,
Ani
mat
ion
and
Vis
ual E
ffect
s, to
offe
r ser
vice
s in
the
pre-
prod
uctio
n, p
rodu
ctio
n an
d po
st-p
rodu
ctio
nof
con
tent
for t
he fi
lm, t
elev
isio
n, g
amin
g an
d ad
vert
isin
g in
dust
ry.
VCL
deliv
ered
sig
nific
ant p
roje
cts
and
won
inte
rnat
iona
l rec
ogni
tion
for i
ts w
ork
on fi
lms,
incl
udin
g no
min
atio
ns in
thre
e ca
tego
ries
for
the
FICC
I-BA
F in
tern
atio
nal a
war
ds.
Sy
ste
ms
Inte
gra
tio
n a
nd
Su
pp
ort
:
This
bus
ines
s se
gmen
t cat
ers
to th
e do
mes
tic m
arke
t and
offe
rs in
tegr
ated
har
dwar
e an
d pa
ckag
ed s
oftw
are
solu
tions
, sou
rced
from
lead
ing
inte
rnat
iona
l tec
hnol
ogy
and
solu
tion
prov
ider
s, to
add
ress
the
com
plex
tech
nica
l com
putin
g re
quire
men
ts o
f Ind
ian
cust
omer
s.Th
is G
roup
offe
rs a
wid
e ra
nge
of t
echn
ical
com
putin
g so
lutio
ns s
pann
ing
high
-end
com
putin
g pl
atfo
rms,
netw
orki
ng, m
echa
nica
lde
sign
aut
omat
ion
tool
s, en
terp
rise
stor
age
solu
tions
, dig
ital m
edia
and
life
sci
ence
s so
lutio
ns. D
urin
g th
e ye
ar, t
he s
egm
ent t
urno
ver
and
resu
lts w
ere
Rs. 4
5.39
cr.
and
Rs. 6
.95
cr. r
espe
ctiv
ely,
com
pare
d to
Rs.
46.8
2 cr
. and
Rs.
7.00
cr.
resp
ectiv
ely
durin
g 20
05-0
6.A
ntic
ipat
ing
grea
ter d
eman
d fo
r con
tent
cre
atio
n an
d de
liver
y th
roug
h th
e pr
olife
ratio
n of
regi
onal
and
nat
iona
l cha
nnel
s an
d st
udio
s,th
is se
gmen
t und
erto
ok a
stra
tegi
c in
itiat
ive
to e
nhan
ce th
e Br
oadc
ast s
olut
ions
por
tfol
io la
st y
ear,
to p
rovi
de c
usto
mer
s with
a c
ompl
ete
end-
to-e
nd s
olut
ions
thro
ugh
allia
nces
with
wor
ld-le
adin
g te
chno
logy
pro
vide
rs. T
his
stra
tegy
has
del
iver
ed re
sults
this
yea
r with
som
eof
the
lead
ing
Indi
an b
road
cast
cha
nnel
s.5
.F
ina
nc
e
Inte
rest
cos
ts in
crea
sed
mar
gina
lly to
Rs.
0.29
cr.
(pre
viou
s ye
ar R
s. 0.
22 c
r.) n
otw
ithst
andi
ng h
ighe
r out
lay
tow
ards
div
iden
d pa
ymen
tsan
d ca
pita
l exp
endi
ture
bot
h of
whi
ch w
ere
inte
rnal
ly fu
nded
out
of a
ccru
als.
DIR
EC
TO
RS
’ R
EP
OR
T T
O T
HE
ME
MB
ER
S (
Co
ntd
...)
15
DIR
EC
TO
RS
’ R
EP
OR
T T
O T
HE
ME
MB
ER
S (
Co
ntd
...)
6.
Dir
ec
tors
Mr.
S. R
amad
orai
, Mr.
H.H
. Mal
gham
and
Mr.
C.P.
Mis
try
retir
e by
rota
tion
and
bein
g el
igib
le, o
ffer t
hem
selv
es fo
r rea
ppoi
ntm
ent.
7.
Dir
ec
tors
Re
spo
nsi
bil
ity
Sta
tem
en
t
Purs
uant
to S
ectio
n 21
7 (2
AA)
of t
he C
ompa
nies
Act
, 195
6, y
our D
irect
ors,
base
d on
the
repr
esen
tatio
ns re
ceiv
ed fr
om th
e O
pera
ting
Man
agem
ent,
conf
irm th
at -
(i)In
the
prep
arat
ion
of th
e an
nual
acc
ount
s, th
e ap
plic
able
acc
ount
ing
stan
dard
s hav
e be
en fo
llow
ed a
nd th
at th
ere
are
no m
ater
ial
depa
rtur
es;
(ii)
they
hav
e, in
the
sele
ctio
n of
the
acco
untin
g po
licie
s, co
nsul
ted
the
Stat
utor
y A
udito
rs a
nd h
ave
appl
ied
them
con
sist
ently
and
mad
e ju
dgem
ents
and
est
imat
es th
at a
re re
ason
able
and
pru
dent
so
as to
giv
e a
true
and
fair
view
of t
he s
tate
of a
ffairs
of t
heCo
mpa
ny a
t the
end
of t
he fi
nanc
ial y
ear a
nd o
f the
pro
fit o
f the
Com
pany
for t
hat y
ear;
(iii)
they
hav
e ta
ken
prop
er a
nd su
ffici
ent c
are,
to th
e be
st o
f the
ir kn
owle
dge
and
abili
ty, f
or th
e m
aint
enan
ce o
f ade
quat
e ac
coun
ting
reco
rds
in a
ccor
danc
e w
ith t
he p
rovi
sion
s of
the
Com
pani
es A
ct,1
956,
fo
r sa
fegu
ardi
ng t
he a
sset
s of
the
Com
pany
and
for
prev
entin
g an
d de
tect
ing
frau
d an
d ot
her i
rreg
ular
ities
;
(iv)
they
hav
e pr
epar
ed th
e an
nual
acc
ount
s on
a g
oing
con
cern
bas
is.
8.
Pe
rso
nn
el
Your
Com
pany
is a
kno
wle
dge-
driv
en c
ompa
ny, a
nd re
lies
on th
e qu
ality
and
siz
e of
its
hum
an c
apita
l for
con
tinue
d gr
owth
.
With
incr
easi
ng c
ompe
titio
n in
out
sour
ced
engi
neer
ing
serv
ices
and
gro
win
g di
rect
pre
senc
e of
larg
e m
ulti-
natio
nal c
ompa
nies
inIn
dia
thro
ugh
capt
ive
R &
D a
nd d
evel
opm
ent c
ente
rs, a
key
cha
lleng
e fo
r gro
wth
lies
in th
e ab
ility
to a
ttra
ct, r
etai
n an
d co
ntin
uous
lyen
hanc
e th
e hu
man
cap
ital i
n yo
ur C
ompa
ny.
Your
Com
pany
has
impl
emen
ted
empl
oyee
-frie
ndly
pol
icie
s tha
t hel
p at
trac
t and
reta
in e
ngin
eerin
g re
sour
ces.
By in
vest
ing
in a
dvan
ced
hard
war
e an
d so
ftw
are
tool
s, yo
ur C
ompa
ny s
eeks
to
prov
ide
its e
mpl
oyee
s op
port
uniti
es t
o w
ork
with
cut
ting
edge
too
ls, t
here
bypr
ovid
ing
exci
tem
ent
and
a te
chni
cally
ric
h en
viro
nmen
t th
at le
ads
to c
ontin
uous
upg
rada
tion
of t
echn
ical
ski
lls. Y
our C
ompa
ny a
lso
cont
inuo
usly
inve
sts
in te
chni
cal t
rain
ing
of it
s em
ploy
ees,
both
fres
h re
crui
ts a
s w
ell a
s ex
istin
g em
ploy
ees.
Lead
ersh
ip p
rogr
ams
have
been
con
duct
ed fo
r a la
rge
pool
of m
id-le
vel e
mpl
oyee
s, w
hile
a k
ey s
et o
f sen
ior m
anag
ers
have
bee
n sp
onso
red
for t
rain
ing
in g
loba
lm
anag
emen
t pr
actic
es.
9.
Dis
clo
sure
of
Pa
rtic
ula
rs
Part
icul
ars r
equi
red
to b
e fu
rnis
hed
unde
r the
Com
pani
es (P
artic
ular
of E
mpl
oyee
s) R
ules
, 197
5 an
d Co
mpa
nies
(Dis
clos
ure
of P
artic
ular
sin
the
Repo
rt o
f Boa
rd o
f Dire
ctor
s) R
ules
, 198
8, to
the
exte
nt a
pplic
able
to th
e Co
mpa
ny a
re g
iven
in th
e A
nnex
ure.
10
.C
orp
ora
te G
ov
ern
an
ce
Purs
uant
to C
laus
e 49
of t
he L
istin
g Ag
reem
ent,
the
Man
agem
ent D
iscu
ssio
n &
Ana
lysi
s St
atem
ent,
Corp
orat
e G
over
nanc
e Re
port
, the
Audi
tors
’ Cer
tific
ate
rega
rdin
g Co
mpl
ianc
e of
Con
ditio
ns o
f Cor
pora
te G
over
nanc
e an
d th
e M
anag
ing
Dire
ctor
’s af
firm
atio
n re
gard
ing
com
plia
nce
with
the
Code
s of
Con
duct
are
par
t of t
his
Ann
ual R
epor
t.
11
.C
ha
ng
e i
n A
ud
ito
rs
In v
iew
of
the
grow
ing
inte
rnat
iona
l ope
ratio
ns o
f yo
ur C
ompa
ny,
your
Boa
rd f
eels
it d
esira
ble
to r
ecom
men
d ap
poin
tmen
t of
an
inte
rnat
iona
l acc
ount
ing
firm
, M
/s D
eloi
tte
Has
kins
& S
ells
, mem
ber f
irm o
f Del
oitt
e, o
ne o
f the
Big
4 g
loba
l acc
ount
ing
firm
s in
plac
e of
the
exis
ting
exte
rnal
aud
itors
, M/s
. RSM
& C
o. T
he n
eces
sary
reso
lutio
n in
this
rega
rd fo
r you
r app
rova
l is
cont
aine
d in
the
Not
ice
of th
efo
rthc
omin
g A
nnua
l Gen
eral
Mee
ting.
For
sim
ilar
reas
ons,
M/s
Ern
st &
You
ng w
hich
is a
lso
one
of t
he B
ig 4
glo
bal a
ccou
ntin
g fir
ms,
is b
eing
app
oint
ed a
s yo
ur C
ompa
ny’s
inte
rnal
aud
itors
in p
lace
of t
he e
xist
ing
inte
rnal
aud
itors
, M/s
. SN
B A
ssoc
iate
s.
12
.A
ck
no
wle
dg
em
en
ts
The
Dire
ctor
s w
ish
to th
ank
the
Com
pany
’s es
teem
ed c
usto
mer
s, as
soci
ates
, sup
plie
rs, a
nd a
bove
all,
its
shar
ehol
ders
and
inve
stor
s fo
rth
eir c
ontin
ued
supp
ort a
nd c
o-op
erat
ion.
On
be
ha
lf o
f th
e B
oa
rd o
f D
ire
cto
rs
SY
AM
AL
GU
PT
A
Mum
bai,
20th
Apr
il, 2
007
Chai
rman
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
16
AN
NE
XU
RE
“A
” T
O D
IRE
CT
OR
S’ R
EP
OR
TP
art
icu
lars
pu
rsu
an
t to
Se
cti
on
21
7 (
1)(
e)
of
the
Co
mp
an
ies
Ac
t, 1
95
6 r
ea
d w
ith
Co
mp
an
ies
(Dis
clo
sure
of
Pa
rtic
ula
rs i
n t
he
Re
po
rt o
f
Bo
ard
of
Dir
ec
tors
) R
ule
s, 1
98
8
1.
Co
nse
rva
tio
n o
f E
ne
rgy
Thou
gh y
our C
ompa
ny d
oes
not h
ave
ener
gy in
tens
ive
oper
atio
ns, i
t con
tinue
s to
pur
sue
ener
gy c
onse
rvat
ion
mea
sure
s.
Ener
gy c
onse
rvat
ion
prog
ram
s ad
opte
d by
you
r Com
pany
are
:
(i)Co
ntin
uous
mon
itorin
g of
ene
rgy
cons
umpt
ion;
(ii)
Sche
dule
d Pr
even
tive
Mai
nten
ance
for H
VAC
and
othe
r pla
nt &
mac
hine
ry s
yste
ms;
(iii)
Regu
lar
“Cos
t rev
iew
” w
ith a
ctio
n pl
ans
on e
ffect
ive
utili
satio
n of
Pow
er, i
nclu
ding
pur
chas
e/us
e of
ene
rgy
savi
ng d
evic
es b
ased
on t
echn
o-co
mm
erci
al e
valu
atio
n.
Your
Com
pany
will
con
tinue
to ti
ghtly
mon
itor a
nd c
ontr
ol o
vera
ll en
ergy
exp
ense
s, ev
en a
s it i
s exp
ecte
d to
incr
ease
in d
irect
pro
port
ion
to th
e in
crea
sed
infr
astr
uctu
re b
uild
-up
and
spac
e ut
iliza
tion
as p
art o
f its
gro
wth
.
2.
Te
ch
no
log
y A
bso
rpti
on
a.
Re
sea
rch
& D
ev
elo
pm
en
t
Your
Com
pany
is k
now
ledg
e dr
iven
, ser
vici
ng cu
stom
ers f
or o
utso
urce
d te
chno
logy
and
pro
duct
R&D
and
dev
elop
men
t of h
ardw
are
and
soft
war
e fo
r em
bedd
ed p
rodu
cts,
such
as
mul
timed
ia a
nd c
onsu
mer
ele
ctro
nics
, aut
omot
ive
elec
tron
ics,
netw
orki
ng a
ndte
leco
m, s
emic
ondu
ctor
, etc
..
Your
Com
pany
dev
otes
a c
erta
in p
ortio
n of
its
hum
an c
apita
l in
deve
lopi
ng e
xper
tise
in c
urre
nt a
nd e
mer
ging
tec
hnol
ogie
s,th
roug
h te
chno
logy
par
tner
ship
s, ac
tive
part
icip
atio
n in
tech
nolo
gy fo
rum
s, te
chno
logy
trai
ning
and
in-h
ouse
R &
D p
roje
cts.
b.
Be
ne
fits
de
riv
ed
ou
t o
f th
e a
bo
ve
R &
D
The
in-h
ouse
tec
hnol
ogy
expe
rtis
e de
velo
pmen
t an
d R
& D
pro
gram
s al
low
s yo
ur C
ompa
ny t
o de
liver
hig
h va
lue
serv
ices
to
cust
omer
s de
man
ding
exp
ertis
e in
cur
rent
and
late
st te
chno
logi
es. T
his
also
pro
vide
s yo
ur C
ompa
ny w
ith a
com
petit
ive
edge
inw
inni
ng a
nd r
etai
ning
cus
tom
ers.
Furt
her,
som
e of
the
se p
rogr
ams
are
aim
ed a
t de
velo
ping
tec
hnol
ogy
Inte
llect
ual P
rope
rty
(IP),
whi
ch p
rovi
de f
or r
even
uem
axim
izat
ion
thro
ugh
IP li
cens
ing
to c
usto
mer
s an
d re
-use
for m
ultip
le c
usto
mer
s. Yo
ur C
ompa
ny is
eng
aged
in IP
dev
elop
men
tin
com
mun
icat
ion
and
mul
timed
ia t
echn
olog
ies
c.
Fu
ture
pla
n o
f a
cti
on
Your
Com
pany
inte
nds
to c
ontin
ue b
uild
ing
com
pete
ncie
s an
d fa
mili
arity
with
tec
hnol
ogie
s an
d st
anda
rds,
to h
elp
expa
nd in
-ho
use
expe
rtis
e an
d th
e re
sour
ce b
ase
of e
ngin
eerin
g st
aff.
Your
Com
pany
als
o pl
ans
to c
ontin
ue it
s ac
tive
focu
s in
dev
elop
ing
tech
nolo
gy IP
, to
prov
ide
cust
omer
s with
tim
e-to
-mar
ket a
nd p
rodu
ctiv
ity a
dvan
tage
s, an
d in
crea
sed
reve
nue
thro
ugh
IP li
cens
ing.
d.
Ex
pe
nd
itu
re o
n R
& D
du
rin
g t
he
ye
ar
i.Ca
pita
l:
Rs. 3
.28.
crs
ii.Re
curr
ing
: Rs
. 7.6
3 cr
s.
iii.
Tota
l:
Rs. 1
0.91
crs
iv.
Tota
l R &
D e
xpen
ditu
re a
s a
perc
enta
ge to
tal t
urno
ver
: 3.
54%
3.
Te
ch
no
log
y a
bso
rpti
on
, a
da
pta
tio
n a
nd
in
no
va
tio
n
Your
Com
pany
’s qu
ality
syst
ems a
re ce
rtifi
ed a
t the
hig
hest
leve
l of I
SO 9
001
and
CMM
I Lev
el 5
, with
BS
7799
Sec
urity
Sta
ndar
ds a
long
with
mat
ure
proc
esse
s, te
chni
ques
and
met
hodo
logi
es t
hat
have
bee
n im
plem
ente
d, c
ontin
uous
ly v
alid
ated
and
ref
ined
, ref
lect
ing
the
enha
ncem
ent o
f ove
rall
qual
ity a
nd p
rodu
ctiv
ity, a
nd h
igh
degr
ee o
f tec
hnol
ogy
abso
rptio
n, a
dapt
atio
n an
d in
nova
tion.
Your
Com
pany
is a
lso
enga
ged
in o
n-go
ing
effo
rts
to s
tudy
and
tra
ck v
ario
us e
mer
ging
and
evo
lvin
g te
chno
logy
seg
men
ts, t
o he
lpid
entif
y te
chno
logi
es w
ith m
arke
t po
tent
ial a
nd d
evel
op in
-hou
se e
xper
tise,
res
ultin
g in
enh
ance
men
t of
add
ress
able
cus
tom
erop
port
uniti
es in
the
futu
re.
4.
Fo
reig
n E
xc
ha
ng
e e
arn
ing
s a
nd
ou
tgo
Your
Com
pany
’s gr
owin
g Se
rvic
es s
egm
ent a
nd a
lso
the
agen
cy b
usin
ess
with
ove
rsea
s pr
inci
pals
in th
e Sy
stem
s In
tegr
atio
n se
gmen
ten
sure
a c
ontin
ued
expo
rt th
rust
. The
par
ticul
ars
of fo
reig
n ex
chan
ge e
arni
ngs
and
outg
o ar
e gi
ven
in It
em N
os. 1
9 an
d 20
of S
ched
ule
15 to
the
Acc
ount
s.
17
Aff
irm
ati
on
re
ga
rdin
g C
om
pli
an
ce
wit
h t
he
Co
de
of
Co
nd
uc
t
The
Com
pany
has
ado
pted
a C
ode
of C
ondu
ct fo
r all
its e
mpl
oyee
s, in
clud
ing
the
Man
agin
g D
irect
or. I
n ad
ditio
n, th
e Co
mpa
ny h
as a
dopt
eda
Code
of C
ondu
ct fo
r its
Non
-Exe
cutiv
e D
irect
ors.
Both
thes
e Co
des
are
avai
labl
e on
the
Com
pany
’s W
ebsi
te (w
ww
.tata
elxs
i.com
).
I her
eby
conf
irm th
at a
ll Bo
ard
mem
bers
and
Sen
ior M
anag
emen
t per
sonn
el h
ave
affir
med
com
plia
nce
with
the
Code
of C
ondu
ct a
pplic
able
to th
em in
resp
ect o
f the
yea
r end
ed 3
1st M
arch
, 200
7.
MA
DH
UK
AR
DE
V
Mum
bai,
20th
Apr
il, 2
007
Man
agin
g D
irect
or
AN
NE
XU
RE
“B
” T
O D
IRE
CT
OR
S’ R
EP
OR
T
Info
rmat
ion
as p
er S
ectio
n 21
7(2A
) of
the
Com
pani
es A
ct, 1
956,
rea
d w
ith t
he C
ompa
nies
(Par
ticul
ars
of E
mpl
oyee
s) R
ules
, 197
5 an
d fo
rmin
g pa
rt o
f th
eD
irect
ors’
Repo
rt fo
r the
yea
r end
ed M
arch
31,
200
7
Sl.
Na
me
De
sig
na
tio
nR
em
un
era
tio
nQ
ua
lifi
ca
tio
nE
xp
eri
en
ce (
Yrs
)C
om
me
nc
em
en
tA
ge
Pa
rtic
ula
rs o
f L
ast
Em
plo
ym
en
t/
No
. (
Rs.
)o
f E
mp
loy
me
nt
(Yrs
)E
mp
loy
er
/La
st P
ost
& P
eri
od
fo
r
wh
ich
po
st h
eld
1Ch
andr
ashe
kar K
.G
ener
al M
anag
er -
VCL
2,52
4,58
8B.
Sc.,
MM
S20
10.0
5.19
9345
HCL
-Hew
lett
Pac
kard
, Acc
ount
Man
ager
- 2
year
s 6
mon
ths
2D
ev M
.M
anag
ing
Dire
ctor
9,19
6,03
8M
.Sc.
, M.B
.A29
03.0
6.19
9152
Benn
et C
olem
an &
Co.
Ltd
. - C
hief
Man
ager
(RM
D) -
1 y
ear
3Kr
ishn
amur
thy
V.CF
O &
Com
pany
2,75
1,83
3B.
Com
., FC
A,22
22.0
9.19
9947
Adva
nta
Indi
a Lt
d. -
Gen
eral
Man
ager
Secr
etar
y F
CS, B
GL
(Fin
ance
) & C
ompa
ny S
ecre
tary
-4
year
s 6
mon
ths
4N
atar
ajan
R.
Gen
eral
Man
ager
-2,
436,
875
M.T
ech.
3030
.04.
2001
52Vi
kram
Sar
abha
i Spa
ce C
entr
e -
Triv
andr
um C
entr
eEn
gine
er -
SG, H
ead
- Flig
ht C
ompu
ter
Div
isio
n - 2
3 ye
ars
5N
ath
A.
Gen
eral
Man
ager
-2,
749,
799
M.S
c.(T
ech)
.27
09.0
8.19
9951
Avne
t Max
Ltd
., Hea
d- D
esig
n Ce
ntre
-Pr
oduc
t Des
ign
4 ye
ars
Serv
ices
6Pr
akas
h S.
Gen
eral
Man
ager
&2,
997,
996
M.E
1808
.02.
1993
43H
indu
stan
Info
mat
ics
Ltd.
, Eng
inee
r.-H
ead
- Pro
duct
Des
ign
8 m
onth
sSe
rvic
es
7Ra
jesh
Kum
arG
ener
al M
anag
er &
4,13
9,54
1B.
Tech
.23
10.0
4.19
9746
C-D
AC, T
eam
Coo
rdin
ator
(Vis
ual
Hea
d - P
rodu
ct D
esig
nco
mpu
ting
and
Mul
timed
ia),
7 ye
ars
Serv
ices
5 m
onth
s
8Sh
ah V
.G
ener
al M
anag
er -
2,75
1,89
8B.
E21
27.0
8.20
0142
Sele
ctiv
a Sy
stem
s In
corp
orat
ion,
Nor
th A
mer
ica
Calif
orni
a - V
ice-
Pres
iden
t - 2
yea
rs
9So
ndur
A.
Gen
eral
Man
ager
- ID
E2,
487,
342
B.Sc
.23
04.0
2.20
0245
Har
ita In
fors
erve
Ltd
., H
ead-
Busi
ness
Dev
elop
men
t - 6
mon
ths
10Th
anga
raja
n M
.G
ener
al M
anag
er -
3,23
8,49
0B.
E21
02.0
9.19
9643
Lars
en &
Tou
bro
Ltd.
, - S
r. Ex
ecut
ive
-D
&D O
pera
tions
Qua
lity
Ass
uran
ce-5
yrs
8 m
onth
s
Not
es:
1N
one
of th
e ab
ove
empl
oyee
s ar
e re
late
d to
any
Dire
ctor
of t
he C
ompa
ny.
2Re
mun
erat
ion
rece
ived
incl
udes
Sal
ary,
Com
mis
sion
, Hou
se R
ent
Allo
wan
ce, C
ontr
ibut
ion
to P
rovi
dent
, Sup
eran
nuat
ion
and
Gra
tuity
Fun
ds a
nd o
ther
Perq
uisi
tes
eval
uate
d in
acc
orda
nce
with
the
Inco
me-
Tax
Rule
s as
app
licab
le.
On
beha
lf of
the
Boar
d of
Dire
ctor
s
Mum
bai
SY
AM
AL
GU
PT
A
Apr
il 20
, 200
7Ch
airm
an
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
18
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
Ma
nd
ato
ry R
eq
uir
em
en
ts :
1.
A b
rie
f st
ate
me
nt
on
th
e C
om
pa
ny
’s p
hil
oso
ph
y o
n c
od
e o
f g
ov
ern
an
ce
. You
r Com
pany
bel
ieve
s in
con
duct
ing
its a
ffairs
with
the
high
est l
evel
s of
inte
grity
, with
pro
per a
utho
risat
ions
, acc
ount
abili
ty a
nd tr
ansp
aren
cy.
The
busi
ness
ope
ratio
ns o
f you
r Com
pany
are
cond
ucte
d no
t to
bene
fit a
ny p
artic
ular
inte
rest
gro
up b
ut fo
r the
ben
efit
of a
ll st
akeh
olde
rs.
2.
Bo
ard
of
Dir
ec
tors
The
Com
pany
has
a N
on-E
xecu
tive
Chai
rman
and
the
num
ber
of In
depe
nden
t D
irect
ors
exce
eds
one-
third
of
the
tota
l num
ber
ofD
irect
ors.
The
num
ber o
f Non
-Exe
cutiv
e D
irect
ors
(NED
s) e
xcee
ds 5
0% o
f the
tota
l num
ber o
f Dire
ctor
s. N
one
of th
e D
irect
ors
on th
eBo
ard
is a
Mem
ber
on m
ore
than
10
Com
mitt
ees
and
Chai
rman
of m
ore
than
5 C
omm
ittee
s (a
s sp
ecifi
ed in
Cla
use
49 o
f the
Lis
ting
Agre
emen
t with
Sto
ck E
xcha
nges
), a
cros
s all
the
com
pani
es in
whi
ch th
ey a
re D
irect
ors.
The
nec
essa
ry d
iscl
osur
es re
gard
ing
Com
mitt
eepo
sitio
ns h
ave
been
mad
e by
the
Dire
ctor
s.
Six
Boar
d M
eetin
gs w
ere
held
dur
ing
the
year
200
6-07
and
the
gap
betw
een
two
mee
tings
did
not
exc
eed
four
mon
ths.
The
date
s on
wh
ich
th
e B
oard
Mee
tin
gs
wer
e h
eld
wer
e 21
st A
pri
l, 20
06,
28th
Jul
y, 2
006,
27t
h O
ctob
er,
2006
, 10
th J
anua
ry,
2007
,30
th Ja
nuar
y, 2
007
and
26th
Mar
ch, 2
007.
The
nam
es a
nd c
ateg
orie
s of
the
Dire
ctor
s on
the
Boa
rd, t
heir
atte
ndan
ce a
t Bo
ard
Mee
tings
dur
ing
the
year
and
at
the
last
Ann
ual
Gen
eral
Mee
ting,
as
also
the
num
ber o
f Dire
ctor
ship
s he
ld b
y th
em in
oth
er c
ompa
nies
are
giv
en b
elow
:
Na
me
Ca
teg
ory
No
. o
fW
he
the
rN
o.
of
Ch
air
ma
nsh
ips/
Dir
ec
tors
hip
s in
oth
er
Bo
ard
att
en
de
dB
oa
rds/
Co
mm
itte
es*
of
Co
mp
an
ies*
*
Me
eti
ng
sA
GM
he
ldC
ha
irm
an
Ch
air
ma
nM
em
be
rM
em
be
ra
tte
nd
ed
on
28
tho
f th
eo
f th
eo
f th
eo
f th
e
du
rin
gJu
ly,
20
06
Bo
ard
Co
mm
itte
eB
oa
rdC
om
mit
tee
20
06
-07
Mr.
Syam
al G
upta
Not
Inde
pend
ent/
6Ye
s6
13
4(C
hairm
an)
Non
-Exe
cutiv
e
Mr.
S. R
amad
orai
Not
Inde
pend
ent/
5Ye
s2
19
2(V
ice
Chai
rman
)N
on-E
xecu
tive
Mr.
E. A
. K. F
aizu
llabh
oyIn
depe
nden
t/5
Yes
——
1—
Non
-Exe
cutiv
e
Mr.
Sujit
Gup
taIn
depe
nden
t/5
Yes
—3
41
Non
-Exe
cutiv
e
Mr.
H. H
. Mal
gham
Inde
pend
ent/
5N
o—
23
1N
on-E
xecu
tive
Mr.
P. G
. Man
kad
Inde
pend
ent/
5Ye
s—
—9
7N
on-E
xecu
tive
Mr.
P. M
cGol
dric
kIn
depe
nden
t/2
Yes
——
1—
Non
-Exe
cutiv
e
Mr.
C. P
. Mis
try
Inde
pend
ent/
3Ye
s—
—10
1N
on-E
xecu
tive
Dr.
R. N
atar
ajan
Inde
pend
ent/
4N
o—
—2
—N
on-E
xecu
tive
Mr.
Mad
huka
r Dev
Not
Inde
pend
ent/
6Ye
s—
——
—M
anag
ing
Dire
ctor
* O
nly
Aud
it an
d In
vest
or G
rieva
nce
Com
mitt
ees
cons
ider
ed**
Exc
lude
s pr
ivat
e/fo
reig
n co
mpa
nies
The
info
rmat
ion
as re
quire
d un
der A
nnex
ure
I to
Clau
se 4
9 is
bei
ng m
ade
avai
labl
e to
the
Boar
d.
19
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)3
.A
ud
it C
om
mit
tee
The
term
s of
refe
renc
e of
the
Audi
t Com
mitt
ee m
anda
ted
by th
e st
atut
ory
and
regu
lato
ry re
quire
men
ts, w
hich
are
als
o in
line
with
the
man
date
giv
en b
y yo
ur B
oard
of D
irect
ors,
are
:
a.O
vers
ight
of t
he C
ompa
ny’s
finan
cial
repo
rtin
g pr
oces
s an
d th
e di
sclo
sure
of i
ts fi
nanc
ial i
nfor
mat
ion
to e
nsur
e th
at th
e fin
anci
alst
atem
ent i
s co
rrec
t, su
ffici
ent a
nd c
redi
ble;
b.Re
com
men
ding
to
the
Boar
d, t
he a
ppoi
ntm
ent,
re-a
ppoi
ntm
ent
and,
if r
equi
red,
the
rep
lace
men
t or
rem
oval
of
the
stat
utor
yau
dito
r and
the
fixat
ion
of a
udit
fees
;
c.Ap
prov
al o
f pay
men
t to
stat
utor
y au
dito
rs fo
r any
oth
er s
ervi
ces
rend
ered
by
the
stat
utor
y au
dito
rs;
d.Re
view
ing,
with
the
man
agem
ent,
the
annu
al fi
nanc
ial s
tate
men
ts b
efor
e su
bmis
sion
to th
e Bo
ard
for a
ppro
val,
with
par
ticul
arre
fere
nce
to:
i.M
atte
rs re
quire
d to
be
incl
uded
in th
e D
irect
or’s
Resp
onsi
bilit
y St
atem
ent t
o be
incl
uded
in th
e Bo
ard’
s Re
port
in te
rms
ofcl
ause
(2A
A) o
f Sec
tion
217
of th
e Co
mpa
nies
Act
, 195
6;ii.
Chan
ges,
if an
y, in
acc
ount
ing
polic
ies
and
prac
tices
and
reas
ons
for t
he s
ame;
iii.
Maj
or a
ccou
ntin
g en
trie
s in
volv
ing
estim
ates
bas
ed o
n th
e ex
erci
se o
f jud
gmen
t by
man
agem
ent;
iv.
Sign
ifica
nt a
djus
tmen
ts m
ade
in th
e fin
anci
al s
tate
men
ts a
risin
g ou
t of a
udit
findi
ngs;
v.Co
mpl
ianc
e w
ith li
stin
g an
d ot
her l
egal
requ
irem
ents
rela
ting
to fi
nanc
ial s
tate
men
ts;
vi.
Dis
clos
ure
of a
ny re
late
d pa
rty
tran
sact
ions
; and
vii.
Qua
lific
atio
ns in
the
draf
t aud
it re
port
;
e.Re
view
ing,
with
the
man
agem
ent,
the
quar
terly
fina
ncia
l sta
tem
ents
bef
ore
subm
issi
on to
the
Boar
d fo
r app
rova
l;
f.Re
view
ing,
with
the
man
agem
ent,
perf
orm
ance
of s
tatu
tory
and
inte
rnal
aud
itors
, ade
quac
y of
the
inte
rnal
con
trol
sys
tem
s;
g.Re
view
ing
the
adeq
uacy
of i
nter
nal a
udit
func
tion,
if a
ny, i
nclu
ding
the
stru
ctur
e of
the
inte
rnal
aud
it de
part
men
t, st
affin
g an
dse
nior
ity o
f the
offi
cial
hea
ding
the
depa
rtm
ent,
repo
rtin
g st
ruct
ure,
cov
erag
e an
d fr
eque
ncy
of in
tern
al a
udit;
h.D
iscu
ssio
n w
ith in
tern
al a
udito
rs a
ny s
igni
fican
t fin
ding
s an
d fo
llow
up
ther
e on
;
i.Re
view
ing
the
findi
ngs
of a
ny in
tern
al in
vest
igat
ions
by
the
inte
rnal
aud
itors
into
mat
ters
whe
re t
here
is s
uspe
cted
fra
ud o
rirr
egul
arity
or a
failu
re o
f int
erna
l con
trol
sys
tem
s of
a m
ater
ial n
atur
e an
d re
port
ing
the
mat
ter t
o th
e Bo
ard;
j.D
iscu
ssio
n w
ith st
atut
ory
audi
tors
bef
ore
the
audi
t com
men
ces,
abou
t the
nat
ure
and
scop
e of
aud
it as
wel
l as p
ost-
audi
t dis
cuss
ion
to a
scer
tain
any
are
a of
con
cern
;
k.To
look
into
the
rea
sons
for
subs
tant
ial d
efau
lts in
pay
men
t to
the
dep
osito
rs, d
eben
ture
hol
ders
, sha
reho
lder
s (in
cas
e of
non
paym
ent o
f dec
lare
d di
vide
nds)
and
cre
dito
rs;
l.To
revi
ew th
e fu
nctio
ning
of t
he W
hist
le B
low
er m
echa
nism
, in
case
the
sam
e is
exi
stin
g;
m.
Carr
ying
out
any
oth
er fu
nctio
n as
is m
entio
ned
in th
e te
rms
of re
fere
nce
of th
e Au
dit C
omm
ittee
.
The
Audi
t Com
mitt
ee re
view
ed th
e re
port
s of t
he in
tern
al a
udito
rs, t
he re
port
s of t
he st
atut
ory
audi
tors
aris
ing
out o
f the
qua
rter
ly, h
alf-
year
ly a
nd a
nnua
l rev
iew
of t
he a
ccou
nts,
cons
ider
ed s
igni
fican
t fin
anci
al is
sues
affe
ctin
g th
e Co
mpa
ny a
nd h
eld
disc
ussi
ons
with
the
inte
rnal
and
sta
tuto
ry a
udito
rs a
nd th
e Co
mpa
ny’s
man
agem
ent,
durin
g th
e ye
ar.
Four
Aud
it Co
mm
ittee
Mee
tings
wer
e he
ld d
urin
g th
e ye
ar 2
006-
07. T
he d
ates
on
whi
ch th
e Au
dit C
omm
ittee
Mee
tings
wer
e he
ld w
ere
21st
Apr
il, 2
006,
25t
h Ju
ly, 2
006,
27t
h O
ctob
er, 2
006,
29t
h Ja
nuar
y, 2
007.
The
com
posi
tion,
nam
es o
f the
mem
bers
, cha
irper
son,
par
ticul
ars
of th
e M
eetin
gs a
nd a
tten
danc
e of
the
mem
bers
dur
ing
the
year
are
as fo
llow
s:
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. H
. H. M
algh
am, C
hairm
anIn
depe
nden
t/N
on-E
xecu
tive
4
2.M
r. S.
Ram
ador
aiN
ot In
depe
nden
t/N
on-E
xecu
tive
1
3.M
r. E.
A. K
. Fai
zulla
bhoy
*In
depe
nden
t/N
on-E
xecu
tive
4
* A
ppoi
nted
as
Chai
rman
of t
he A
udit
Com
mitt
ee fr
om 2
8th
July
, 200
6 to
26t
h Se
ptem
ber,
2006
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
20
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)4
.R
em
un
era
tio
n C
om
mit
tee
The
term
s of
refe
renc
e m
anda
ted
by y
our B
oard
are
:
●To
dec
ide
the
polic
y on
spe
cific
rem
uner
atio
n pa
ckag
es f
or M
anag
ing/
Exec
utiv
e D
irect
ors
incl
udin
g pe
nsio
n rig
hts
and
any
com
pens
atio
n pa
ymen
ts;
●To
app
rove
the
term
s of
any
Em
ploy
ee S
tock
Opt
ion
Sche
me
or P
lan
as m
ay b
e is
sued
from
tim
e to
tim
e by
the
Com
pany
.
All
Non
-Exe
cutiv
e D
irect
ors
of y
our
Com
pany
rec
eive
sitt
ing
fees
for
eac
h m
eetin
g of
the
Boa
rd o
r Co
mm
ittee
the
reof
att
ende
d by
them
. Th
e ne
t pr
ofits
of
the
Com
pany
, not
exc
eedi
ng 1
%, a
re d
istr
ibut
able
, as
com
mis
sion
, am
ongs
t th
e N
on-E
xecu
tive
Dire
ctor
sco
nsid
erin
g th
e sp
ecia
l ser
vice
s an
d ef
fort
s re
nder
ed. O
ther
tha
n si
ttin
g fe
es a
nd c
omm
issi
on o
n th
e ne
t pr
ofits
of t
he C
ompa
ny, n
oot
her r
emun
erat
ion
is p
ayab
le to
the
Non
-Exe
cutiv
e D
irect
ors
for 2
006-
07.
Two
Rem
uner
atio
n Co
mm
ittee
Mee
tings
wer
e he
ld d
urin
g th
e ye
ar 2
006-
07. T
he d
ates
on
whi
ch th
e Re
mun
erat
ion
Com
mitt
ee M
eetin
gsw
ere
held
wer
e 21
st A
pril,
200
6, a
nd 1
5th
Mar
ch, 2
007.
The
com
posi
tion,
nam
es o
f the
mem
bers
, cha
irper
son,
par
ticul
ars
of th
e M
eetin
gs a
nd a
tten
danc
e of
the
mem
bers
dur
ing
the
year
are
as fo
llow
s:
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. C.
P.
Mis
try,
Cha
irman
Inde
pend
ent/
Non
-Exe
cutiv
e2
2.M
r. Sy
amal
Gup
taN
ot In
depe
nden
t/N
on-E
xecu
tive
2
3.M
r. S.
Ram
ador
aiN
ot In
depe
nden
t/N
on-E
xecu
tive
2
The
rem
uner
atio
n ea
rned
dur
ing
2006
-07
by th
e N
on-E
xecu
tive
Dire
ctor
s is
giv
en b
elow
:
Sl.
Na
me
s o
f th
e N
on
-Ex
ec
uti
ve
Dir
ec
tors
Sit
tin
g F
ee
sC
om
mis
sio
n
No
.R
s.R
s.
1.M
r. Sy
amal
Gup
ta60
,000
12,5
0,00
0
2.M
r. S.
Ram
ador
ai55
,000
8,00
,000
3.M
r. E.
A. K
. Fai
zulla
bhoy
85,0
005,
50,0
00
4.M
r. Su
jit G
upta
25,0
002,
25,0
00
5.M
r. H
. H. M
algh
am1,
00,0
006,
75,0
00
6.M
r. P.
G. M
anka
d40
,000
2,25
,000
7.M
r. P.
McG
oldr
ick
10,0
002,
25,0
00
8.M
r. C.
P. M
istr
y30
,000
3,25
,000
9.D
r. R.
Nat
araj
an20
,000
2,25
,000
Det
ails
of r
emun
erat
ion
for 2
006-
07 in
resp
ect o
f Mr.
Mad
huka
r Dev
, Man
agin
g D
irect
or, a
re g
iven
bel
ow:
Ba
sic
Sa
lary
Co
mm
issi
on
Co
ntr
ibu
tio
n t
oO
the
rT
ota
l
Rs.
Rs.
Pro
vid
en
t &
oth
er
Fu
nd
sA
llo
wa
nc
es
& P
erq
uis
ite
sR
s.
Rs.
Rs.
17,4
2,50
045
,00,
000
5,14
,038
24,3
9,50
091
,96,
038
5.
Inv
est
or
Gri
ev
an
ce
s C
om
mit
tee
The
term
s of
refe
renc
e m
anda
ted
by y
our B
oard
, whi
ch is
als
o in
line
with
the
stat
utor
y an
d re
gula
tory
requ
irem
ents
, are
:
●Re
dres
sing
of S
hare
hold
ers
and
Inve
stor
s co
mpl
aint
s;●
To e
nsur
e ex
pedi
tious
sha
re tr
ansf
ers;
●To
revi
ew s
tatu
s of
lega
l cas
es in
volv
ing
the
inve
stor
s w
here
the
Com
pany
has
bee
n m
ade
a pa
rty.
21
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)Fo
ur In
vest
or G
rieva
nces
Com
mitt
ee M
eetin
gs w
ere
held
dur
ing
the
year
200
6-07
. The
dat
es o
n w
hich
the
Inve
stor
Grie
vanc
es C
omm
ittee
Mee
tings
wer
e he
ld w
ere
21st
Apr
il, 2
006,
27t
h Ju
ly, 2
006,
27t
h O
ctob
er, 2
006,
30t
h Ja
nuar
y, 2
007.
The
com
posi
tion,
nam
es o
f the
mem
bers
, cha
irper
son,
par
ticul
ars
of th
e M
eetin
gs a
nd a
tten
danc
e of
the
mem
bers
dur
ing
the
year
are
as fo
llow
s:
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. E.
A. K
. Fai
zulla
bhoy
, Cha
irman
Inde
pend
ent/
Non
-Exe
cutiv
e4
2.M
r. H
. H. M
algh
amIn
depe
nden
t/N
on-E
xecu
tive
3
3.M
r. P.
G. M
anka
dIn
depe
nden
t/N
on-E
xecu
tive
3
Nam
e, d
esig
natio
n &
addr
ess
of th
e Co
mpl
ianc
e O
ffice
r :
Mr.
V
ija
y K
rish
na
mu
rth
y
Chie
f Fin
anci
al O
ffice
r & C
ompa
ny S
ecre
tary
Tata
Elx
si L
td.,
ITPB
Roa
d, W
hite
field
, Ban
galo
re-5
60 0
48.
Phon
e:
+91-
80-2
2979
736
Fax
:+9
1-80
-229
7977
0E-
mai
l:
veek
ay@
tata
elxs
i.co.
in
Det
ails
of I
nves
tors
com
plai
nts
rece
ived
dur
ing
2006
-07
are
as fo
llow
s:
Sl.
No
.N
atu
re o
f C
om
pla
ints
Re
ce
ive
dD
isp
ose
dP
en
din
g
1.N
on-r
ecei
pt o
f Div
iden
d W
arra
nt48
448
4N
il
2.N
on-r
ecei
pt o
f Sha
re c
ertif
icat
es a
fter
TR/
Cons
./Tra
ns42
42N
il
3.N
on-r
ecei
pt o
f I/W
/Red
empt
ion
2828
Nil
4.N
on-r
ecei
pt o
f A/R
, Rig
ht o
ffer/
Regi
ster
ed o
f C/A
1313
Nil
To
tal
56
75
67
Nil
Com
plai
nts/
corr
espo
nden
ce a
re u
sual
ly d
ealt
with
with
in 1
0 da
ys o
f rec
eipt
and
are
com
plet
ely
reso
lved
exc
ept i
n ca
ses w
here
litig
atio
nis
invo
lved
.
Det
ails
of s
hare
s in
phy
sica
l for
m lo
dged
for t
rans
fer d
urin
g 20
06-0
7 ar
e as
follo
ws:
Sl.
No
.L
od
ge
d f
or
tra
nsf
er
Tra
nsf
err
ed
an
d r
etu
rne
dP
en
din
gR
em
ark
s
1.11
5852
1065
5228
0065
00 s
hare
s ha
ve n
ot b
een
tran
sfer
red
and
wer
ere
turn
ed u
nder
obj
ectio
n
Shar
e tr
ansf
er lo
dgem
ents
are
pro
cess
ed w
ithin
30
days
and
retu
rned
exc
ept i
n ca
ses
whe
re li
tigat
ion
is in
volv
ed.
The
follo
win
g pe
rson
s ca
n al
so b
e co
ntac
ted
in c
ase
of in
vest
ors
grie
vanc
es:
a.M
s. M
ary
Alle
s (e
mai
l: m
ary@
tata
elxs
i.co.
in;
phon
e: +
91-0
80-2
2979
789;
Fax
: +91
-080
-229
7977
0)
b.TS
R D
aras
haw
Ltd
. (em
ail:
csg-
unit@
tsrd
aras
haw
.com
phon
e: +
91-0
22-6
6568
484;
Fax
: +91
-022
-665
6849
4)
6.
Oth
er
Co
mm
itte
es
In a
dditi
on to
the
abov
e Co
mm
ittee
s, th
e Bo
ard
has
also
con
stitu
ted
an E
xecu
tive
Com
mitt
ee, E
thic
s Co
mm
ittee
, Leg
al C
omm
ittee
and
a N
omin
atio
n Co
mm
ittee
. The
Exe
cutiv
e Co
mm
ittee
rev
iew
s an
d gu
ides
the
Com
pany
on
vario
us o
pera
tiona
l mat
ters
. The
Eth
ics
Com
mitt
ee re
view
s co
mpl
ianc
e by
the
Com
pany
and
its
empl
oyee
s w
ith th
e Ta
ta C
ode
of C
ondu
ct a
nd o
ther
Com
pany
Pol
icie
s re
latin
g
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
22
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)to
eth
ical
con
duct
. The
Leg
al C
omm
ittee
mon
itors
the
lega
l com
plia
nces
by
the
Com
pany
. The
Nom
inat
ion
Com
mitt
ee is
res
pons
ible
for
mak
ing
reco
mm
enda
tions
rega
rdin
g th
e co
mpo
sitio
n of
the
Boar
d fro
m ti
me
to ti
me.
The
com
posi
tion,
nam
es o
f the
mem
bers
, cha
irper
son,
par
ticul
ars
of th
e M
eetin
gs a
nd a
tten
danc
e of
the
mem
bers
dur
ing
the
year
are
as fo
llow
s:
Eth
ics
Co
mm
itte
e
The
Ethi
cs C
omm
ittee
met
on
26th
Mar
ch, 2
007.
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. H
. H. M
algh
am, C
hairm
anIn
depe
nden
t/N
on-E
xecu
tive
1
2.M
r. M
adhu
kar D
evN
ot In
depe
nden
t/Ex
ecut
ive
1
Ex
ec
uti
ve
Co
mm
itte
e
The
Exec
utiv
e Co
mm
ittee
met
on
the
follo
win
g da
tes:
15th
Jun
e, 2
006,
16t
h Au
gust
, 200
6 an
d 26
th M
arch
, 200
7.
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. Sy
amal
Gup
ta, C
hairm
anN
ot In
depe
nden
t/N
on-E
xecu
tive
3
2.M
r. S.
Ram
ador
aiN
ot In
depe
nden
t/N
on-
Exec
utiv
e2
3.M
r. H
. H. M
algh
amIn
depe
nden
t/N
on-E
xecu
tive
3
4.M
r. M
adhu
kar D
evN
ot In
depe
nden
t/Ex
ecut
ive
3
Le
ga
l C
om
mit
tee
The
Lega
l Com
mitt
ee m
et o
n th
e fo
llow
ing
date
s: 27
th Ju
ly, 2
006,
27t
h O
ctob
er, 2
006,
10t
h Ja
nuar
y, 2
007
and
17th
Janu
ary,
200
7.
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. E.
A. K
. Fai
zulla
bhoy
, Cha
irman
Inde
pend
ent/
Non
-Exe
cutiv
e4
2.M
r. H
. H. M
algh
amIn
depe
nden
t/N
on-E
xecu
tive
3
3M
r. M
adhu
kar D
evN
ot In
depe
nden
t/Ex
ecut
ive
4
No
min
ati
on
Co
mm
itte
e
The
Nom
inat
ion
Com
mitt
ee m
et o
n 26
th M
arch
, 200
7.
Sl.
Na
me
s o
f M
em
be
rsC
ate
go
ryN
o.
of
Me
eti
ng
s a
tte
nd
ed
No
.d
uri
ng
th
e y
ea
r 2
00
6-0
7
1.M
r. C.
P.
Mis
try,
Cha
irman
Inde
pend
ent/
Non
-Exe
cutiv
e1
2.M
r. Sy
amal
Gup
taN
ot In
depe
nden
t/N
on-E
xecu
tive
1
3.M
r. S.
Ram
ador
aiN
ot In
depe
nden
t/N
on-E
xecu
tive
1
4.M
r. H
. H. M
algh
amIn
depe
nden
t/N
on-E
xecu
tive
1
23
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)7
.G
en
era
l B
od
y M
ee
tin
gs
Part
icul
ars
abou
t the
last
thre
e A
nnua
l Gen
eral
Mee
tings
(AG
M’s)
of t
he C
ompa
ny a
re:
Sl.
No
.A
GM
Pa
rtic
ula
rsD
ate
Ve
nu
eT
ime
1.17
th A
GM
in re
spec
t of
28th
July
, 200
6Ta
ta E
lxsi
Lim
ited,
Whi
tefie
ld, H
oody
,12
:00
noon
the
year
200
5-06
Bang
alor
e
2.16
th A
GM
in re
spec
t of
22nd
July
, 200
5Ta
ta E
lxsi
Lim
ited,
Whi
tefie
ld, H
oody
,12
:00
noon
the
yea
r 200
4-05
Bang
alor
e
3.15
th A
GM
in re
spec
t30
th Ju
ly, 2
004
Tata
Elx
si L
imite
d, W
hite
field
, Hoo
dy,
12:0
0 no
onof
the
year
200
3-04
Ban
galo
re
No
item
of
busi
ness
, whi
ch r
equi
red
the
mem
bers
’ app
rova
l thr
ough
pos
tal b
allo
t, w
as t
rans
acte
d du
ring
2006
-07.
Acc
ordi
ngly
, the
Com
pani
es (P
osta
l Bal
lot)
Rul
es 2
001
is n
ot a
pplic
able
to th
e Co
mpa
ny d
urin
g th
e sa
id y
ear.
8.
Dis
clo
su
res
●Th
ere
are
no m
ater
ially
sig
nific
ant r
elat
ed p
arty
tran
sact
ions
dur
ing
the
year
that
hav
e po
tent
ial c
onfli
ct w
ith th
e in
tere
sts
of th
eCo
mpa
ny a
t lar
ge;
●Th
ere
has
been
no
non-
com
plia
nce
or p
enal
ties
or s
tric
ture
s im
pose
d on
you
r Com
pany
by
any
of th
e St
ock
Exch
ange
s or
SEB
I or
any
stat
utor
y au
thor
ity o
n an
y m
atte
r rel
ated
to c
apita
l mar
kets
dur
ing
the
last
thre
e ye
ars;
●Yo
ur C
ompa
ny h
as a
dopt
ed a
Whi
stle
Blo
wer
Pol
icy
whi
ch is
per
man
ently
pos
ted
on t
he C
ompa
ny’s
intr
anet
. All
issu
es r
aise
dun
der t
he W
hist
le B
low
er P
olic
y ar
e di
rect
ly re
port
ed to
the
Chai
rman
of t
he C
ompa
ny’s
Aud
it Co
mm
ittee
and
no
pers
onne
l has
been
den
ied
acce
ss to
the
Audi
t Com
mitt
ee.
●Th
e Co
mpa
ny h
as c
ompl
ied
with
all
the
man
dato
ry re
quire
men
ts a
nd m
ost o
f the
non
-man
dato
ry re
quire
men
ts s
peci
fied
in th
ere
vise
d Cl
ause
49
of th
e Li
stin
g Ag
reem
ent.
9.
Me
an
s o
f C
om
mu
nic
ati
on
●Yo
ur C
ompa
ny u
ses s
ever
al m
odes
of c
omm
unic
atin
g w
ith it
s ext
erna
l sta
keho
lder
s suc
h as
ann
ounc
emen
ts a
nd p
ress
rele
ases
inne
wsp
aper
s, ci
rcul
ar le
tter
s and
oth
er re
port
s to
the
mem
bers
, pos
ting
info
rmat
ion
on it
s web
site
(ww
w.ta
tael
xsi.c
om),
intim
atio
nto
the
Stoc
k Ex
chan
ges,
resp
ondi
ng to
ana
lyst
’s qu
erie
s et
c..
●Yo
ur C
ompa
ny’s
quar
terly
res
ults
are
dis
sem
inat
ed t
hrou
gh a
ll th
e m
odes
men
tione
d ab
ove.
Bus
ines
s St
anda
rd (E
nglis
h da
ily)
and
Sanj
evan
i (ve
rnac
ular
dai
ly) a
re u
sual
ly th
e pa
pers
in w
hich
the
quar
terly
resu
lts a
re p
ublis
hed.
●Yo
ur C
ompa
ny’s
Man
agem
ent
Dis
cuss
ion
& A
naly
sis
of t
he B
usin
ess
for
the
year
end
ed 3
1st
Mar
ch, 2
007
form
s a
part
of
this
Annu
al R
epor
t and
is g
iven
und
er th
e Se
ctio
n so
cap
tione
d.
10
.G
en
era
l S
ha
reh
old
ers
In
form
ati
on
Sl.
No
.S
ali
en
t It
em
s o
f In
tere
stP
art
icu
lars
i.AG
M D
ate,
tim
e an
d ve
nue
27th
July
, 200
7 at
12.
00 n
oon
at S
t. Jo
hn’s
Aud
itoriu
m 1
00 ft
Roa
d,op
p. B
DA
Com
plex
, Kor
aman
gala
, Ban
galo
re -
560
034
ii.Fi
nanc
ial C
alen
dar
Year
end
ing
31st
Mar
ch, 2
007
iii.
Dat
e of
Boo
k Cl
osur
e17
th to
27t
h Ju
ly, 2
007
(bot
h da
tes
incl
usiv
e)
iv.
Div
iden
d Pa
ymen
t Dat
e30
th Ju
ly, 2
007
v.Li
stin
g on
Sto
ck E
xcha
nges
Ba
ng
alo
re S
toc
k E
xc
ha
ng
e L
imit
ed
Stoc
k Ex
chan
ge T
ower
s, 51
, 1st
Cro
ss,
J. C.
Roa
d, B
anga
lore
-560
027
, Ind
iaTe
l. : +
91-8
0-41
57 5
234,
Fax
: +9
1-80
-415
7 52
32B
om
ba
y S
toc
k E
xc
ha
ng
e L
imit
ed
Phiro
ze J
eeje
ebho
y To
wer
s, D
alal
Str
eet,
Mum
bai-4
00 0
01, I
ndia
Tel.
: +91
-22-
2272
123
4 Fa
x : +
91-2
2-22
72 1
919
Th
e D
elh
i S
toc
k E
xc
ha
ng
e A
sso
cia
tio
n L
imit
ed
DSE
Hou
se, 3
/1 A
SAF
Ali
Road
,N
ew D
elhi
-110
002
, Ind
iaTe
l. : +
91-1
1-23
29 2
417,
Fax
: +9
1-11
-232
9 21
76
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
24
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)
Th
e N
ati
on
al
Sto
ck
Ex
ch
an
ge
of
Ind
ia L
imit
ed
Exch
ange
Pla
za P
lot N
o. C
/1,
G B
lock
Ban
dra-
Kurla
Com
plex
, Ban
dra
(Eas
t), M
umba
i – 4
00 0
51,
Indi
aTe
l. :
+91
-22-
2659
810
0, F
ax :
+91
-22-
2659
812
0
vi.
Stoc
k Co
deBo
mba
y St
ock
Exch
ange
Lim
ited
-50
0408
The
Nat
iona
l Sto
ck E
xcha
nge
of In
dia
Lim
ited
-Ta
ta E
lxsi
vii.
Regi
stra
r & S
hare
Tra
nsfe
r Age
nts
TSR
Dar
asha
w L
imite
d, 6
-10,
Haj
i Moo
sa P
atra
wal
a In
d. E
stat
e,20
, Dr.
E. M
oses
Roa
d, M
ahal
axm
i, M
umba
i 400
011
viii.
Shar
e Tr
ansf
er S
yste
mSh
ares
lodg
ed in
phy
sica
l for
m w
ith th
e Co
mpa
ny/it
s Reg
istr
ars &
Sha
re Tr
ansf
erAg
ents
are
pro
cess
ed a
nd r
etur
ned,
dul
y tr
ansf
erre
d w
ithin
30
days
nor
mal
ly,
exce
pt in
cas
es w
here
litig
atio
n is
invo
lved
.In
res
pect
of
shar
es h
eld
in d
emat
eria
lised
mod
e, t
he t
rans
fer
take
s pl
ace
inst
anta
neou
sly
bet
wee
n th
e tr
ansf
eror
, tra
nsfe
ree
and
the
Dep
osit
ory
Part
icip
ant t
hrou
gh e
lect
roni
c de
bit/
cred
it of
the
acco
unts
invo
lved
.
ix.
Dem
ater
ialis
atio
n of
sha
res
and
liqui
dity
As
at 3
1st M
arch
, 200
7, 2
,88,
31,8
96 s
hare
s w
ere
held
in d
emat
eria
lised
mod
e.x.
Out
stan
ding
GD
Rs/A
DRs
/War
rant
s or
Ther
e ar
e no
out
stan
ding
inst
rum
ents
and
hen
ce th
ere
will
be
no d
ilutio
nan
y co
nver
tible
inst
rum
ents
, con
vers
ion
of th
e eq
uity
.da
te a
nd li
kely
impa
ct o
n eq
uity
xi.
Plan
t Lo
catio
nsYo
ur C
ompa
ny’s
soft
war
e de
velo
pmen
t ce
ntre
s ar
e lo
cate
d at
the
fol
low
ing
addr
esse
s:
a.IT
PB R
oad,
Hoo
dy, B
anga
lore
– 5
60 0
48b.
“Gay
atri”
Tec
hnop
ark,
Triv
andr
um –
695
581
c.‘G
una
Com
plex
’ No.
443
, Ann
asal
ai, T
eyna
mpe
t Che
nnai
– 6
00 0
18d.
Alp
ha –
1 B
uild
ing,
GIG
A S
pace
, 198
/1B,
Nag
ar R
oad,
Pun
e 41
1 01
4e.
201,
Bos
ton
Hou
se, S
uren
Roa
d, o
ff A
ndhe
ri Ku
rla R
oad,
And
heri
(Eas
t)M
umba
i – 4
00 0
93f.
Solid
Squ
are
Stre
et, 3
F, 58
0 H
orik
awa-
cho,
Kaw
asak
i-shi
,Ka
naga
wa
– 21
2-00
13, J
apan
xii.
Addr
ess
for
corr
espo
nden
ceIT
PB R
oad,
Hoo
dy, B
anga
lore
– 5
60 0
48
Ma
rke
t P
ric
e D
ata
: H
igh
/Lo
w d
uri
ng
ea
ch
mo
nth
of
20
06
-07
on
th
e f
oll
ow
ing
ex
ch
an
ge
s:
Mu
mb
ai
Na
tio
na
l
Mo
nth
Hig
h (
Rs.
)L
ow
(R
s.)
Vo
l. (
No
. o
f sh
are
s)H
igh
(R
s.)
Lo
w (
Rs.
)V
ol.
(N
o.
of
sha
res)
April
200
624
9.50
188.
0030
4997
124
8.45
188.
0042
3690
5
May
200
626
1.70
170.
0013
0162
326
1.90
175.
0021
6882
0
June
200
620
2.00
149.
0010
7152
620
2.00
147.
5018
8429
5
July
200
618
6.50
147.
0015
1899
818
8.00
146.
5020
1787
8
Augu
st 2
006
225.
0016
8.00
1617
416
224.
9516
1.50
2542
951
Sept
embe
r 20
0623
9.90
214.
0086
0036
249.
0021
0.00
9731
70
Oct
ober
200
624
3.35
215.
0084
3535
243.
9021
5.15
1053
510
Nov
embe
r 200
626
9.70
225.
0022
6739
526
9.90
225.
0531
1243
8
Dec
embe
r 20
0627
7.00
221.
2589
0651
277.
0022
0.10
1401
869
Janu
ary
2007
320.
0026
0.00
1361
065
319.
8026
0.00
2112
804
Febr
uary
200
731
4.00
258.
0599
5539
313.
0026
0.00
1501
925
Mar
ch 2
007
303.
6525
8.20
1111
206
305.
0025
7.00
1590
932
25
CO
MP
LIA
NC
E R
EP
OR
T O
N C
OR
PO
RA
TE
GO
VE
RN
AN
CE
(C
on
td..
.)D
istr
ibu
tio
n o
f S
ha
reh
old
ing
as
on
31
st M
arc
h,
20
07
Ra
ng
e o
f S
ha
res
No
. o
f S
ha
reh
old
ers
% o
f S
ha
reh
old
ers
No
. o
f S
ha
res
he
ld%
of
Sh
are
ho
ldin
g
1 –
500
4918
195
.50
7172
615
23.0
3
501
– 10
0013
992.
7211
3817
43.
66
1001
- 200
050
30.
9876
1334
2.45
2001
– 3
000
147
0.28
3768
821.
21
3001
– 4
000
640.
1223
1973
0.74
4001
– 5
000
450.
0921
2692
0.68
5001
– 1
0000
870.
1766
3215
2.13
Ove
r 10,
000
740.
1420
5813
3566
.10
To
tal
51
50
01
00
.00
31
13
82
20
10
0.0
0
Ca
teg
ori
es
of
Sh
are
ho
ldin
g a
s o
n 3
1st
Ma
rch
, 2
00
7
Ca
teg
ory
No
. o
f S
ha
reh
old
ers
No
. o
f S
ha
res
he
ld%
of
Sh
are
ho
ldin
g
Indi
vidu
als
5018
510
2977
5333
.07
NRI
’s35
312
2866
0.40
Com
pani
es80
810
5132
33.
38
Tata
Gro
up3
1188
0504
38.1
5
Mut
ual F
unds
, FI’s
, FII’
s41
7728
948
24.8
2
Clea
ring
Mem
ber/
Clea
ring
Hou
se11
056
826
0.18
NSD
L/CS
DL
tran
sit
posi
tion
00
0.00
To
tal
51
50
03
11
38
22
01
00
.00
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
26
Au
dit
ors
’ Cer
tifi
cate
on
Co
mp
lian
ce o
f co
nd
itio
ns
of
Co
rpo
rate
Go
vern
ance
as
per
Cla
use
49
of
the
List
ing
Ag
reem
ent
wit
h t
he
Sto
ck E
xch
ang
es
TO T
HE
MEM
BER
S O
F TA
TA E
LXSI
LIM
ITED
We
hav
e ex
amin
ed t
he
com
plia
nce
of c
on
dit
ion
s o
f Co
rpo
rate
Gov
ern
ance
by
Tata
Elx
si L
imit
ed(‘t
he
Co
mp
any’
), fo
r th
e ye
ar e
nd
ed o
n M
arch
31, 2
007
as s
tip
ula
ted
in C
lau
se 4
9 o
f th
e Li
stin
g A
gre
emen
t o
f th
e C
om
pan
y w
ith
sto
ck e
xch
ang
es.
The
com
plia
nce
of c
on
dit
ion
s o
f Cor
po
rate
Gov
ern
ance
is t
he
resp
on
sib
ility
of t
he
man
agem
ent.
Ou
r ex
amin
atio
n w
as li
mit
ed t
o p
roce
du
res
and
imp
lem
enta
tio
n t
her
eof,
ado
pte
d b
y th
e C
om
pan
y fo
r en
suri
ng
th
e co
mp
lian
ce o
f th
e co
nd
itio
ns
of C
orp
ora
te G
over
nan
ce.
It is
nei
ther
an a
ud
it n
or
an e
xpre
ssio
n o
f op
inio
n o
n t
he
finan
cial
sta
tem
ents
of t
he
Co
mp
any.
In o
ur
op
inio
n a
nd
to
th
e b
est
of o
ur
info
rmat
ion
an
d a
cco
rdin
g t
o t
he
exp
lan
atio
ns
giv
en t
o u
s, w
e ce
rtify
th
at t
he
Co
mp
any
has
com
plie
dw
ith
th
e co
nd
itio
ns
of
Co
rpo
rate
Gov
ern
ance
as
stip
ula
ted
in t
he
abov
e m
enti
on
ed L
isti
ng
Ag
reem
ent.
We
stat
e th
at a
s p
er t
he
reco
rds
mai
nta
ined
by
the
Inve
sto
r G
riev
ance
s C
om
mit
tee,
as
of
the
Bala
nce
Sh
eet
dat
e, n
o in
vest
or
gri
evan
ces
are
pen
din
g a
gai
nst
th
e C
om
pan
y fo
r a
per
iod
exc
eed
ing
on
e m
on
th.
We
furt
her
sta
te th
at s
uch
co
mp
lian
ce is
nei
ther
an
ass
ura
nce
as
to th
e fu
ture
via
bili
ty o
f th
e C
om
pan
y n
or t
he
effic
ien
cy o
r eff
ecti
ven
ess
wit
hw
hic
h t
he
man
agem
ent
has
co
nd
uct
ed t
he
affa
irs
of t
he
Co
mp
any.
For
RSM
& C
o.C
hart
ered
Acc
ount
ants
Vila
s Y.
Ran
ePa
rtne
r (F
– 3
3220
)M
um
bai
, Ap
ril 2
0, 2
007
27
MA
NA
GE
ME
NT
DIS
CU
SS
ION
& A
NA
LYS
IS F
OR
TH
E Y
EA
R E
ND
ED
31
ST
MA
RC
H,
20
07
1.
Bu
sin
ess
An
aly
sis
Your
Com
pany
’s op
erat
ions
are
bro
adly
bro
ken
up in
to t
wo
busi
ness
seg
men
ts i.
e. S
oftw
are
Dev
elop
men
t &
Ser
vice
s an
d Sy
stem
sIn
tegr
atio
n &
Supp
ort.
So
ftw
are
De
ve
lop
me
nt
an
d S
erv
ice
s:
This
seg
men
t gre
w fr
om R
s.188
.82
cr. d
urin
g 20
05-0
6 to
Rs.
262.
58 c
r. in
the
year
200
6-07
with
a c
orre
spon
ding
incr
ease
in th
e se
gmen
tre
sults
from
Rs.
40.4
7 cr
. to
Rs. 6
1.66
cr.
Soft
war
e D
evel
opm
ent a
nd S
ervi
ces
is b
roke
n up
into
thre
e di
stin
ct b
usin
ess
grou
ps:
Em
be
dd
ed
Pro
du
ct
De
sig
n S
erv
ice
s:
This
bus
ines
s un
it is
invo
lved
in d
esig
ning
tech
nolo
gy p
rodu
cts
incl
udin
g ha
rdw
are/
soft
war
e ac
ross
the
prod
uct l
ife c
ycle
in in
dust
ries
such
as
Aut
omot
ive,
Con
sum
er E
lect
roni
cs, M
edia
, Net
wor
king
, Sem
icon
duct
or, S
tora
ge a
nd T
elec
om. T
he r
ange
of
serv
ices
offe
red
incl
udes
:
●H
ardw
are
desi
gn in
clud
ing
VLSI
, FPG
A &
Boa
rds
●D
evel
opm
ent a
nd in
tegr
atio
n of
em
bedd
ed s
oftw
are
incl
udin
g fir
mw
are
and
mid
dlew
are
●D
evel
opm
ent a
nd in
tegr
atio
n of
Dev
ice
driv
ers
and
tool
s●
Full
prod
uct a
nd s
yste
m-le
vel i
nteg
ratio
n
Thes
e se
rvic
es a
re e
nabl
ed b
y te
chno
logy
and
dom
ain
expe
rtis
e in
are
as s
uch
as:
●G
raph
ics,
Imag
ing
& Im
age
Proc
essi
ng●
Mul
timed
ia●
DSP
Sof
twar
e●
Rout
ing
& Sw
itchi
ng●
VOIP
●N
etw
ork
Man
agem
ent
●St
orag
e &
File
-sys
tem
s●
Real
Tim
e Co
ntro
l sys
tem
s●
Scie
ntifi
c Co
mpu
ting
●M
obile
TV
●W
irele
ss
Your
Com
pany
pro
vide
s gl
obal
cus
tom
ers
with
ser
vice
s to
war
ds t
echn
olog
y pr
oduc
t de
velo
pmen
t an
d ou
tsou
rced
R&
D, i
nclu
ding
Dig
ital T
V en
able
d pr
oduc
ts s
uch
as a
dvan
ced
disp
lays
and
set
-top
box
es, m
ultim
edia
and
por
tabl
e en
tert
ainm
ent
prod
ucts
suc
h as
audi
o an
d m
edia
pla
yers
, con
sum
er e
lect
roni
cs s
uch
as d
igita
l vid
eo c
amer
as, m
obile
pho
nes,
etc.
Your
Com
pany
ena
bles
val
ue t
o its
cus
tom
ers
thro
ugh
the
cost
-effe
ctiv
e an
d tim
ely
serv
ice
deliv
ery
of it
s te
chno
logy
and
dom
ain
expe
rtis
e.Yo
ur C
ompa
ny e
nsur
es th
is th
roug
h de
liver
y an
d qu
ality
pro
cess
es th
at h
ave
been
cer
tifie
d at
the
high
est l
evel
of C
MM
I Lev
el 5
and
ISO
9001
alo
ngw
ith in
form
atio
n se
curit
y sy
stem
s th
at h
ave
been
ass
esse
d at
the
high
est l
evel
of B
S 77
99, a
nd in
vest
ing
in c
ontin
uous
and
ongo
ing
tech
nica
l tra
inin
g of
its
engi
neer
s, th
at h
elps
bui
ld d
omai
n ex
pert
ise
in c
urre
nt a
nd e
mer
ging
tech
nolo
gies
.Th
is te
chno
logy
and
peo
ple
deve
lopm
ent f
ocus
has
hel
ped
in p
rovi
ding
a d
iver
se a
nd ri
ch e
nviro
nmen
t to
attr
act a
nd re
tain
eng
inee
ring
and
tech
nica
l tal
ent.
The
embe
dded
ele
ctro
nics
mar
ket
is e
xpec
ted
to r
egis
ter
stro
ng g
row
th in
seg
men
ts s
uch
as D
igita
l TV,
por
tabl
e en
tert
ainm
ent
and
mul
timed
ia p
rodu
cts
and
wire
less
pho
nes.
This
is a
lso
expe
cted
to a
id g
ood
grow
th in
the
sem
icon
duct
or in
dust
ry.
Ther
e is
als
o an
incr
easi
ng t
rend
tow
ards
use
of r
eusa
ble
com
pone
nts
and
read
ymad
e IP
blo
cks
and
desi
gn fr
amew
orks
by
prod
uct
man
ufac
ture
rs to
ena
ble
fast
er ti
me-
to-m
arke
t and
ove
rall
redu
ctio
n in
dev
elop
men
t cos
ts.
Your
Com
pany
has
inve
sted
tow
ards
in-h
ouse
R&D
to
enab
le c
reat
ion
of In
telle
ctua
l Pro
pert
y (IP
) and
tec
hnol
ogy
expe
rtis
e in
are
assu
ch a
s m
ultim
edia
, net
wor
king
, WIM
AX, m
obile
TV,
sem
icon
duct
ors
and
stor
age.
The
se a
re a
vaila
ble
as o
ff-th
e-sh
elf c
ompo
nent
s th
atca
n be
plu
gged
into
the
cust
omer
s’ sy
stem
or c
an b
e cu
stom
ized
to m
eet s
peci
fic n
eeds
of t
he s
yste
m.
This
tech
nolo
gy e
xper
tise
and
IP is
exp
ecte
d to
con
trib
ute
to re
venu
es o
f thi
s div
isio
n in
the
follo
win
g ye
ars,
thro
ugh
licen
sing
fees
and
serv
ices
for i
nteg
ratio
n an
d cu
stom
izat
ion
alon
g w
ith th
e lic
ensi
ng o
f the
se IP
s an
d te
chno
logi
es.
Your
Com
pany
will
con
tinue
to in
vest
in s
uch
R&D
to h
elp
crea
te d
omai
n ex
pert
ise
and
licen
sabl
e IP
with
in th
e Co
mpa
ny o
n em
ergi
ngte
chno
logi
es in
the
targ
eted
indu
stry
sec
tors
.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
28
MA
NA
GE
ME
NT
DIS
CU
SS
ION
& A
NA
LYS
IS F
OR
TH
E Y
EA
R E
ND
ED
31
ST
MA
RC
H, 2
00
7 (C
on
td..
.)In
du
stri
al
De
sig
n a
nd
En
gin
ee
rin
g S
erv
ice
s:
This
bus
ines
s un
it de
liver
s in
tegr
ated
ser
vice
s to
war
ds c
ompl
ete
mec
hani
cal p
rodu
ct d
esig
n, in
clud
ing
styl
ing
and
indu
stria
l des
ign,
bran
ding
and
gra
phic
s, in
terf
ace
and
usab
ility
for
a w
ide
varie
ty o
f ap
plic
atio
ns s
uch
as c
onsu
mer
pro
duct
s, el
ectr
onic
enc
losu
res,
FMCG
pac
kagi
ng a
nd tr
ansp
orta
tion.
Your
Com
pany
pos
sess
es a
tale
nted
poo
l of i
ndus
tria
l des
igne
rs a
nd p
rodu
ct d
esig
n en
gine
ers,
serv
icin
g gl
obal
cus
tom
ers
in d
iffer
ent
indu
strie
s su
ch a
s Tr
ansp
orta
tion,
FM
CG, C
onsu
mer
ele
ctro
nics
, etc
.Th
is g
roup
has
enl
arge
d th
e sc
ope
of it
s ex
pert
ise
in t
he p
revi
ous
year
, to
be a
ble
to p
rovi
de c
usto
mer
s w
ith a
n in
tegr
ated
pro
duct
desi
gn, g
raph
ics
and
bran
ding
ser
vice
offe
ring.
Your
Com
pany
has
als
o le
vera
ged
syne
rgie
s of
thi
s gr
oup
with
the
Em
bedd
ed P
rodu
ct D
esig
n Se
rvic
es g
roup
in a
ddre
ssin
g de
sign
requ
irem
ents
for c
erta
in g
loba
l cus
tom
ers
for w
hom
the
Embe
dded
Pro
duct
Des
ign
Serv
ices
gro
up d
oes
wor
k.V
isu
al
Co
mp
uti
ng
La
bs:
This
bus
ines
s un
it pr
ovid
es s
ervi
ces
in t
he a
rea
of a
nim
atio
n an
d sp
ecia
l effe
cts
cont
ent
crea
tion
for
the
adve
rtis
ing,
tel
evis
ion
and
mot
ion
pict
ures
mar
kets
in In
dia
and
over
seas
.W
hile
you
r Com
pany
has
firm
ly e
stab
lishe
d its
elf a
s a
lead
ing
stud
io fo
r Ind
ian
cust
omer
s fo
r the
dom
estic
mar
kets
, the
inte
rnat
iona
lm
arke
ts p
ose
a ch
alle
nge,
esp
ecia
lly t
he U
S, w
here
oft
en t
he r
emun
erat
ion
for
the
serv
ices
pro
vide
d by
thi
s di
visi
on is
link
ed t
o th
eco
mm
erci
al s
ucce
ss o
f the
pro
ject
. You
r Com
pany
has
hith
erto
con
scio
usly
sta
yed
away
from
und
erta
king
ass
ignm
ents
bas
ed o
n th
ism
odel
whe
re th
e ris
ks a
re n
ot c
omm
ensu
rate
with
the
reve
nue
pote
ntia
l and
is e
xplo
ring
way
s of
brid
ging
this
mar
ket r
equi
rem
ent.
Furt
her,
ther
e is
sca
rcity
of l
ocal
exp
ertis
e fo
r hig
h-en
d co
nten
t dev
elop
men
t, co
nsid
erin
g th
e na
scen
t nat
ure
of th
e or
gani
zed
indu
stry
in th
e co
untr
y. T
his
has
also
lim
ited
the
abili
ty to
add
ress
ove
rsea
s m
arke
ts a
ggre
ssiv
ely.
In o
rder
to a
chie
ve w
orld
-cla
ss st
anda
rds,
this
bus
ines
s con
tinuo
usly
inve
sts i
n la
test
har
dwar
e an
d so
ftw
are
tool
s as w
ell a
s tra
inin
g an
dex
pert
ise
deve
lopm
ent o
f its
man
pow
er p
ool.
Apa
rt f
rom
the
bus
ines
s ris
ks m
entio
ned
abov
e, y
our
Com
pany
als
o fa
ces
indu
stry
spe
cific
ris
ks a
nd c
halle
nges
suc
h as
att
ract
ion,
upgr
adat
ion
and
rete
ntio
n of
hum
an r
esou
rces
, for
eign
cur
renc
y ex
chan
ge r
isks
aris
ing
from
the
diff
eren
t co
untr
ies
in w
hich
you
rCo
mpa
ny o
pera
tes,
visa
pro
cess
ing
dela
ys a
risin
g ou
t of i
ncre
ased
sec
urity
requ
irem
ents
in th
e ov
erse
as c
ount
ries,
grow
ing
tend
ency
of o
vers
eas
cust
omer
s –
exis
ting
and
pote
ntia
l – to
ope
n ca
ptiv
e de
velo
pmen
t cen
tres
in In
dia,
whi
ch d
irect
ly a
ffect
s yo
ur C
ompa
ny’s
abili
ty to
pro
vide
offe
rings
to th
ese
cust
omer
s.Yo
ur C
ompa
ny h
as re
spon
ded
to th
ese
chal
leng
es in
sev
eral
way
s. Re
crui
tmen
t and
rete
ntio
n in
itiat
ives
hav
e be
en s
tren
gthe
ned
and
mad
e m
ore
inno
vativ
e. D
evel
opm
ent
Cent
res
have
bee
n op
ened
at
seve
ral l
ocat
ions
in o
rder
to
bett
er a
cces
s lo
cal t
alen
t an
d al
sopr
ovid
e op
port
uniti
es fo
r exi
stin
g ta
lent
to re
loca
te fo
r per
sona
l rea
sons
, if n
eed
aris
es. H
edgi
ng tr
ansa
ctio
ns a
re re
gula
rly c
arrie
d ou
t to
offs
et t
he a
dver
se fo
reig
n cu
rren
cy fl
uctu
atio
ns. Y
our C
ompa
ny is
als
o w
orki
ng w
ith t
he In
dian
sub
sidi
arie
s of
ove
rsea
s cu
stom
ers
bypr
ovid
ing
and
augm
entin
g ni
che
tech
nica
l ser
vice
s.S
yst
em
s In
teg
rati
on
an
d S
up
po
rt:
This
seg
men
t rec
orde
d a
turn
over
and
resu
lts d
urin
g th
e ye
ar o
f Rs.
45.3
9 cr
. and
Rs.
6.95
cr.
resp
ectiv
ely
as c
ompa
red
with
its
turn
over
and
resu
lts o
f Rs.
46.8
2 cr
. an
d Rs
. 7.0
0 cr
. dur
ing
2005
-06
and
com
pris
es o
f the
Sys
tem
s Int
egra
tion,
Cus
tom
er S
uppo
rt a
nd P
rofe
ssio
nal
Serv
ices
Gro
up b
usin
esse
s.D
ue to
the
inhe
rent
nat
ure
of th
e Sy
stem
s Int
egra
tion
busin
ess v
iz. v
alue
-add
ed re
selli
ng, t
here
is a
gre
ater
upw
ard
and
dow
nwar
d vo
latil
ity in
this
segm
ent o
ver t
he y
ears
, driv
en b
y la
rge
cust
omer
ord
ers
in a
ny a
ccou
ntin
g pe
riod
whi
ch m
ay n
ot re
peat
in th
e fo
llow
ing
perio
d. A
lso,
depe
ndin
g on
the
cust
omer
’s el
igib
ility
to im
port
with
or w
ithou
t cus
tom
s du
ty, y
our C
ompa
ny tu
rnov
er e
ither
reco
rds
the
entir
e du
ty-p
aid
turn
over
or o
nly t
he ag
ency
com
miss
ion.
Due
to th
is, th
e tu
rnov
er va
ries u
pwar
ds o
r dow
nwar
ds o
ver c
onse
cutiv
e ac
coun
ting
perio
ds d
epen
ding
on t
he c
usto
mer
pro
file.
You
r Co
mpa
ny’s
appr
oach
in t
his
busin
ess
grou
p ha
s be
en t
o m
aint
ain
its d
omes
tic p
rese
nce,
exp
loit
syne
rgie
sw
here
ver i
ts p
rinci
pals
in th
is se
gmen
t are
also
its
cust
omer
s in
ano
ther
seg
men
t, an
d co
nsci
ously
refu
se o
rder
s w
hich
are
not
com
mer
cial
lyat
trac
tive
whi
lst ta
rget
ing
only
pro
fitab
le a
nd c
omm
erci
ally
nea
t ord
ers.
Seve
ral l
arge
and
tech
nica
lly c
halle
ngin
g or
ders
wer
e ex
ecut
ed fo
rgo
vern
men
t as w
ell a
s priv
ate
corp
orat
e cu
stom
ers d
urin
g th
e ye
ar.
One
thr
ust
area
is d
efin
itely
the
sig
nific
ant
enla
rgem
ent
of t
he V
ideo
and
Bro
adca
st s
olut
ions
por
tfol
io, w
here
you
r Co
mpa
ny h
aden
tere
d in
to a
llian
ces
with
glo
bal l
eade
rs to
pro
vide
this
indu
stry
with
a c
ompl
ete
rang
e of
sol
utio
ns a
cros
s th
e ha
rdw
are
equi
pmen
tan
d so
ftw
are
requ
irem
ents
. Thi
s has
ena
bled
gre
ater
bus
ines
s fro
m th
is m
arke
t in
the
curr
ent y
ear,
espe
cial
ly co
nsid
erin
g th
e pr
olife
ratio
nof
cha
nnel
s an
d st
udio
s (re
gion
al a
nd n
atio
nal),
and
the
expe
cted
dem
and
for c
onte
nt c
reat
ion
and
deliv
ery.
The
busi
ness
gro
up o
pera
tes
in a
n en
viro
nmen
t of h
igh
obso
lesc
ence
due
to c
ontin
uous
tech
nolo
gica
l upg
rada
tions
by
its p
rinci
pals
and
othe
r glo
bal p
laye
rs, c
onse
quen
t fal
ling
hard
war
e an
d so
ftw
are
pric
es a
nd ra
pidl
y ch
angi
ng m
arke
t sce
nario
s. Th
e Co
mpa
ny d
eliv
ers
valu
e to
its
cust
omer
s by
usi
ng it
s te
chni
cal k
now
ledg
e of
the
pro
duct
s an
d m
arke
t tr
ends
and
its
allia
nces
with
glo
bal p
laye
rs t
opr
ovid
e op
timum
cos
t-co
nfig
urat
ion-
inte
grat
ion-
mai
nten
ance
sol
utio
ns t
o its
Indi
an c
usto
mer
s to
mee
t th
eir r
equi
rem
ents
.
29
MA
NA
GE
ME
NT
DIS
CU
SS
ION
& A
NA
LYS
IS F
OR
TH
E Y
EA
R E
ND
ED
31
ST
MA
RC
H, 2
00
7 (C
on
td..
.)Yo
ur C
ompa
ny a
lso
deriv
es r
even
ues
from
ann
ual m
aint
enan
ce c
ontr
acts
for
the
sys
tem
s th
at it
has
sol
d in
its
Syst
ems
Inte
grat
ion
busi
ness
.So
me
of th
e st
rate
gic
allia
nces
in th
is b
usin
ess
grou
p of
ferin
g st
ate-
of-t
he-a
rt s
olut
ions
to c
usto
mer
s ar
e:�
Co
mp
uti
ng
Pla
tfo
rms
❖S
ilic
on
Gra
ph
ics
& B
ox
x fo
r Vis
ualiz
atio
n So
lutio
ns❖
He
wle
tt P
ac
ka
rd &
Sil
ico
n G
rap
hic
s fo
r Ent
erpr
ise
and
Hig
h Pe
rfor
man
ce C
ompu
ting
�M
ec
ha
nic
al
De
sig
n A
uto
ma
tio
n T
oo
ls
❖U
GS
– P
LM
for P
rodu
ct L
ife C
ycle
Man
agem
ent S
olut
ions
❖A
lia
s (n
ow
an
Au
tod
esk
co
mp
an
y a
fte
r m
erg
er)
for P
rodu
ct D
esig
n &
Styl
ing
�D
igit
al
Me
dia
So
luti
on
s
❖T
ho
mso
n,W
ea
the
rCe
ntr
al
& S
ea
ch
an
ge
for
Broa
dcas
t Au
tom
atio
n❖
Ma
sste
ch
for M
edia
Arc
hiva
l2
.In
tern
al
Co
ntr
ols
Sy
ste
ms
an
d t
he
ir A
de
qu
ac
y:
The
inte
rnal
con
trol
s of
the
Com
pany
are
ope
rate
d th
roug
h an
exh
aust
ive
syst
em o
f in
tern
al c
heck
s an
d ba
lanc
es in
volv
ing
inte
r-de
pend
enci
es o
f job
res
pons
ibili
ties,
whi
ch e
nsur
es t
hat
ther
e ar
e jo
int
disc
ussi
ons
and
appr
oval
s be
fore
any
fina
ncia
l com
mitm
ents
are
mad
e. T
he n
atur
e an
d lim
its fo
r fin
anci
al c
omm
itmen
ts fo
r eac
h D
epar
tmen
t in
the
Com
pany
are
als
o se
t out
in a
det
aile
d M
anua
l,w
hich
has
to b
e ad
here
d to
for a
ll fin
anci
al a
ppro
vals
. Per
iodi
c au
dits
by
the
inte
rnal
and
sta
tuto
ry a
udito
rs a
nd re
gula
r mee
tings
of t
heAu
dit
Com
mitt
ee o
f the
Boa
rd o
f Dire
ctor
s w
ho d
iscu
ss w
ith t
he a
udito
rs a
nd t
he m
anag
emen
t re
gard
ing
issu
es r
aise
d in
the
aud
itre
port
s an
d al
l fin
anci
al m
atte
rs a
lso
rein
forc
e th
e im
pact
of i
nter
nal c
ontr
ols
in th
e Co
mpa
ny. W
ith th
ese
ongo
ing
initi
ativ
es, t
here
are
adeq
uate
inte
rnal
con
trol
sys
tem
s in
the
Com
pany
.3
.F
ina
nc
ial
An
aly
sis:
The
follo
win
g ar
e re
leva
nt fi
nanc
ial p
erfo
rman
ce d
etai
ls w
ith re
spec
t to
the
oper
atio
nal p
erfo
rman
ce o
f the
Com
pany
:
Sa
lie
nt
Fin
an
cia
l D
ata
Ex
pe
nd
itu
re A
na
lysi
s
rela
tin
g t
o t
he
Pro
fit
& L
oss
Acc
ou
nt
as
a p
erc
en
tag
e o
f In
co
me
Pa
rtic
ula
rs2
00
6-0
72
00
5-0
6%
ch
an
ge
20
06
-07
20
05
-06
Rs.
Cro
res
Rs.
Cro
res
ov
er
pre
vio
us
ye
ar
%%
Sale
s30
7.96
235.
6330
.70
99.8
699
.71
Oth
er In
com
e0.
420.
68(3
8.24
)0.
140.
29
To
tal
Re
ve
nu
es
30
8.3
82
36
.31
30
.50
10
0.0
01
00
.00
Cost
of S
ales
36.1
035
.14
2.73
11.7
114
.87
Pers
onne
l Exp
ense
s15
4.30
119.
7428
.86
50.0
450
.67
Ove
rhea
ds48
.47
34.0
842
.22
15.7
214
.42
Fina
ncia
l Exp
ense
s0.
290.
2231
.82
0.09
0.09
Dep
reci
atio
n8.
696.
7329
.12
2.82
2.85
To
tal
Ex
pe
nd
itu
re2
47
.85
19
5.9
12
6.5
18
0.3
78
2.9
0
Pro
fit
be
fore
Ta
x6
0.5
34
0.4
04
9.8
31
9.6
31
7.1
0
Tax
8.41
6.07
38.4
52.
732.
57
Pro
fit
aft
er
Ta
x5
2.1
23
4.3
35
1.8
41
6.9
01
4.5
3
An
aly
sis:
1.
Sa
les
:
Whi
le th
e ov
eral
l sal
es g
rew
by
31%
from
Rs.
235.
63 c
rs. d
urin
g 20
05-0
6 to
Rs.
307.
96 c
rs. d
urin
g 20
06-0
7, th
e sa
les i
n th
e So
ftw
are
Dev
elop
men
t and
Ser
vice
s Se
gmen
t gre
w b
y 39
% fr
om R
s. 18
8.82
crs
. to
262.
58 c
rs. a
nd th
e sa
les
in th
e Sy
stem
s In
tegr
atio
n an
dSu
ppor
t Seg
men
t saw
a m
argi
nal r
educ
tion
of 3
% fr
om R
s. 46
.82
crs.
to R
s. 45
.39
crs.
durin
g th
e co
rres
pond
ing
perio
ds. T
he m
ixof
the
two
segm
ents
mar
gina
lly c
hang
ed fr
om 8
0:20
dur
ing
2005
-06
to 8
5.:1
5 du
ring
2006
-07.
2.
Oth
er
Inc
om
e:
This
com
pris
es m
ainl
y of
inte
rest
on
defe
rred
cre
dit a
nd s
urpl
us fu
nds
depl
oyed
with
the
bank
s.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
30
3.
Co
st o
f S
ale
s:
This
has
incr
ease
d by
3%
mai
nly
on a
ccou
nt o
f pur
chas
e of
sof
twar
e lic
ense
s an
d ot
her c
onsu
mab
le it
ems.
4.
Pe
rso
nn
el
Co
st:
This
has
incr
ease
d by
29%
from
Rs.
119.
74 c
rs. i
n 20
05-0
6 to
Rs.
154.
30 c
rs. i
n 20
06-0
7 co
rres
pond
ing
to th
e in
crea
se in
the
reve
nues
of S
oftw
are
Dev
elop
men
t and
Ser
vice
s Seg
men
t and
is d
ue to
incr
ease
in th
e em
ploy
ee st
reng
th, o
vers
eas d
eplo
ymen
t of m
arke
ting
and
engi
neer
ing
pers
onne
l and
sal
ary
revi
sion
cos
ts.
5.
Ov
erh
ea
ds
:
Acc
ou
nt
He
ad
Inc
rea
seD
ec
rea
seR
em
ark
s
Rs.
Cro
res
Rs.
Cro
res
Ope
ratin
g Le
ase
Rent
als
1.93
—Ad
ditio
nal p
rem
ises
take
n on
rent
con
sequ
ent t
o in
crea
se in
em
ploy
eest
reng
th a
long
with
ann
ual i
ncre
ase
in re
ntal
spa
ce.
Repa
irs a
nd m
aint
enan
ce1.
06—
Cons
eque
nt to
add
ition
al p
rem
ises
take
n fo
r mee
ting
spac
e re
quire
men
t.Te
leph
one,
dat
alin
k,1.
49—
Addi
tiona
l lea
sed
lines
take
n to
cat
er to
incr
ease
d bu
sine
ss n
eeds
.co
urie
r & p
osta
geIn
land
trav
el a
nd c
onve
yanc
e1.
19—
Cons
eque
nt to
incr
ease
in tr
avel
bet
wee
n de
velo
pmen
t cen
tres
,re
crui
tmen
t re
late
d tr
avel
etc
..Tr
aini
ng1.
11—
Trai
ning
for n
ew jo
inee
s.Ex
chan
ge lo
ss3.
62—
Adve
rse
fluct
uatio
n in
exc
hang
e ra
tes.
Sign
ifica
nt R
atio
Ana
lysi
s
Pa
rtic
ula
rsU
nit
20
06
-07
20
05
-06
Prof
it be
fore
Tax
/Sal
es%
19.6
317
.10
Earn
ing
befo
re In
tere
st/T
ax /
Sale
s%
19.7
217
.19
Prof
it af
ter T
ax/S
ales
%16
.90
14.5
3
Curr
ent
Ratio
No.
of t
imes
1.30
1.33
Deb
t Equ
ity R
atio
%–
–
Earn
ings
per
Sha
reRs
.16
.74
11.0
2
Div
iden
d pe
r Sha
reRs
.7.
006.
50
Book
Val
ue p
er S
hare
Rs.
29.7
221
.18
Retu
rn o
n N
etw
orth
%56
.31
52.0
6
Retu
rn o
n Ca
pita
l em
ploy
ed%
54.0
849
.45
4.
Hu
ma
n R
eso
urc
es:
The
num
ber o
f em
ploy
ees o
n yo
ur C
ompa
ny’s
rolls
as a
t 31s
t Mar
ch, 2
007
was
2,6
00 (3
1st M
arch
, 200
6: 1
,920
em
ploy
ees)
. A k
ey c
halle
nge
rem
ains
the
att
ract
ion,
upg
rada
tion
and
rete
ntio
n of
hum
an c
apita
l. Yo
ur C
ompa
ny s
eeks
to
achi
eve
thes
e ob
ject
ives
by
offe
ring
ate
chni
cally
ric
h en
viro
nmen
t w
ith c
uttin
g-ed
ge w
ork
for
lead
ing
glob
al t
echn
olog
y co
mpa
nies
, mak
ing
sign
ifica
nt in
vest
men
ts in
adva
nced
sof
twar
e an
d ha
rdw
are
tool
s an
d te
chni
cal t
rain
ing,
set
ting
up m
ulti-
loca
tiona
l del
iver
y ce
ntre
s to
tap
loca
l tal
ent w
hich
als
oen
able
relo
catio
n op
port
uniti
es in
cas
e of
per
sona
l exi
genc
ies
and
spon
sors
hip
of g
ener
al m
anag
emen
t edu
catio
n fo
r the
lead
ersh
ipte
am. A
noth
er k
ey c
halle
nge
is t
o en
sure
tha
t w
hile
you
r Co
mpa
ny g
row
s in
siz
e an
d m
ulti-
loca
tiona
l spr
ead,
foc
us o
n in
divi
dual
empl
oyee
’s ne
eds
are
not d
ilute
d.
5.
Qu
ali
ty I
nit
iati
ve
s:
The
Com
pany
has
a v
ery
stro
ng p
roce
ss o
rient
atio
n in
the
exe
cutio
n of
its
soft
war
e pr
ojec
ts a
nd is
a p
ione
er in
the
use
of s
tatis
tical
met
hods
of p
roce
ss c
ontr
ols.
The
Com
pany
is a
sses
sed
at C
MM
I Lev
el 5
cer
tific
atio
n, w
hich
affi
rms y
our C
ompa
ny’s
capa
bilit
y to
pro
vide
end-
to-e
nd d
esig
n so
lutio
ns th
at w
ould
mat
ch th
e cu
stom
er re
quire
men
ts. Y
our C
ompa
ny h
as a
lso
rece
ived
BS7
799
cert
ifica
tion
whi
chre
pres
ents
the
high
est l
evel
of i
nfor
mat
ion
secu
rity
proc
esse
s fo
llow
ed b
y yo
ur C
ompa
ny.
MA
NA
GE
ME
NT
DIS
CU
SS
ION
& A
NA
LYS
IS F
OR
TH
E Y
EA
R E
ND
ED
31
ST
MA
RC
H, 2
00
7 (C
on
td..
.)
31
AU
DIT
OR
S’
RE
PO
RT
TO T
HE
MEM
BERS
OF
TATA
ELX
SI L
IMIT
ED
1.W
e ha
ve a
udite
d th
e at
tach
ed B
alan
ce S
heet
of T
ata
Elx
si L
imit
ed
(‘th
e Co
mpa
ny’)
as a
t Mar
ch 3
1, 2
007,
and
als
o th
e Pr
ofit
and
Loss
Acco
unt a
nd th
e Ca
sh F
low
Sta
tem
ent o
f the
Com
pany
for t
he y
ear e
nded
on
that
dat
e, a
nnex
ed th
eret
o (a
ll to
geth
er re
ferr
ed to
as
‘fina
ncia
l sta
tem
ents
’). T
hese
fina
ncia
l sta
tem
ents
are
the
resp
onsi
bilit
y of
the
Com
pany
’s m
anag
emen
t. O
ur re
spon
sibi
lity
is to
exp
ress
an o
pini
on o
n th
ese
finan
cial
sta
tem
ents
bas
ed o
n ou
r aud
it.
2.W
e co
nduc
ted
our a
udit
in a
ccor
danc
e w
ith a
uditi
ng s
tand
ards
gen
eral
ly a
ccep
ted
in In
dia.
Tho
se S
tand
ards
requ
ire th
at w
e pl
an a
ndpe
rfor
m th
e au
dit t
o ob
tain
reas
onab
le a
ssur
ance
abo
ut w
heth
er th
e fin
anci
al s
tate
men
ts a
re fr
ee o
f mat
eria
l mis
stat
emen
t. A
n au
dit
incl
udes
exa
min
ing,
on
a te
st b
asis
, evi
denc
e su
ppor
ting
the
amou
nts
and
disc
losu
res
in t
he f
inan
cial
sta
tem
ents
. An
audi
t al
soin
clud
es a
sses
sing
the
acco
untin
g pr
inci
ples
use
d an
d si
gnifi
cant
est
imat
es m
ade
by m
anag
emen
t, as
wel
l as
eval
uatin
g th
e ov
eral
lfin
anci
al s
tate
men
t pre
sent
atio
n. W
e be
lieve
that
our
aud
it pr
ovid
es a
reas
onab
le b
asis
for o
ur o
pini
on.
3.A
s re
quire
d by
the
Com
pani
es (
Audi
tor’s
Rep
ort)
Ord
er, 2
003
(‘the
Ord
er’),
issu
ed b
y th
e Ce
ntra
l Gov
ernm
ent
of In
dia
in t
erm
s of
Sect
ion
227
(4A
) of t
he C
ompa
nies
Act
, 195
6 w
e en
clos
e in
the
Ann
exur
e, a
sta
tem
ent o
n th
e m
atte
rs s
peci
fied
in p
arag
raph
s 4
and
5of
the
said
Ord
er.
4.Fu
rthe
r to
our c
omm
ents
in th
e A
nnex
ure
refe
rred
to a
bove
, we
repo
rt th
at:
a.W
e ha
ve o
btai
ned
all t
he in
form
atio
n an
d ex
plan
atio
ns w
hich
to th
e be
st o
f our
kno
wle
dge
and
belie
f wer
e ne
cess
ary
for t
hepu
rpos
es o
f our
aud
it;
b.In
our
opi
nion
, pro
per
book
s of
acc
ount
as
requ
ired
by la
w h
ave
been
kep
t by
the
Com
pany
, so
far
as a
ppea
rs f
rom
our
exam
inat
ion
of t
hose
boo
ks;
c.Th
e Ba
lanc
e Sh
eet,
Prof
it an
d Lo
ss A
ccou
nt a
nd C
ash
Flow
Sta
tem
ent d
ealt
with
by
this
repo
rt a
re in
agr
eem
ent w
ith th
e bo
oks
of a
ccou
nt;
d.In
our
opi
nion
, the
Bal
ance
She
et, P
rofit
and
Los
s A
ccou
nt a
nd C
ash
Flow
Sta
tem
ent
com
ply
with
the
acc
ount
ing
stan
dard
sre
ferr
ed to
in s
ub-s
ectio
n (3
C) o
f Sec
tion
211
of th
e Co
mpa
nies
Act
, 195
6;
e.O
n th
e ba
sis
of t
he w
ritte
n re
pres
enta
tions
rec
eive
d by
the
Com
pany
from
its
dire
ctor
s, a
nd t
aken
on
reco
rd b
y th
e Bo
ard
ofD
irect
ors,
we
repo
rt t
hat
none
of t
he d
irect
ors
is d
isqu
alifi
ed a
s on
Mar
ch 3
1, 2
007
from
bei
ng a
ppoi
nted
as
a di
rect
or u
nder
clau
se (g
) of s
ub-s
ectio
n (1
) of S
ectio
n 27
4 of
the
Com
pani
es A
ct, 1
956;
f.In
our
opi
nion
and
to th
e be
st o
f our
info
rmat
ion,
and
acc
ordi
ng to
the
expl
anat
ions
giv
en to
us,
the
said
fina
ncia
l sta
tem
ents
read
with
the
note
s th
ereo
n, g
ive
the
info
rmat
ion
requ
ired
by th
e Co
mpa
nies
Act
, 195
6 in
the
man
ner s
o re
quire
d, a
nd g
ive
atr
ue a
nd fa
ir vi
ew in
con
form
ity w
ith th
e ac
coun
ting
prin
cipl
es g
ener
ally
acc
epte
d in
Indi
a:
i.in
the
case
of t
he B
alan
ce S
heet
, of t
he s
tate
of a
ffairs
of t
he C
ompa
ny a
s at
Mar
ch 3
1, 2
007;
ii.in
the
case
of t
he P
rofit
and
Los
s A
ccou
nt, o
f the
pro
fit o
f the
Com
pany
for t
he y
ear e
nded
on
that
dat
e;
and
iii.
in c
ase
of th
e Ca
sh F
low
Sta
tem
ent,
of th
e ca
sh fl
ows
of th
e Co
mpa
ny fo
r the
yea
r end
ed o
n th
at d
ate.
For R
SM
& C
o.
Char
tere
d Ac
coun
tant
s
Vil
as
Y.
Ra
ne
Part
ner (
F-33
220)
Mum
bai :
Apr
il 20
, 200
7
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
32
AN
NE
XU
RE
TO
AU
DIT
OR
S’
RE
PO
RT
[Ref
erre
d to
in p
arag
raph
3 o
f our
repo
rt o
f eve
n da
te to
the
mem
bers
of T
ata
Elxs
i Lim
ited
on th
e fin
anci
al s
tate
men
ts fo
r the
yea
r end
edM
arch
31,
200
7]
(i)(a
)Th
e Co
mpa
ny h
as m
aint
aine
d pr
oper
reco
rds s
how
ing
full
part
icul
ars i
nclu
ding
qua
ntita
tive
deta
ils a
nd si
tuat
ion
of fi
xed
asse
ts.
(b)
The
Com
pany
has
a p
olic
y of
ver
ifica
tion
of a
ll fix
ed a
sset
s on
ce in
a p
erio
d of
tw
o ye
ars
whi
ch in
our
opi
nion
, is
reas
onab
leha
ving
rega
rd t
o th
e si
ze o
f the
Com
pany
and
the
nat
ure
of it
s bu
sine
ss. P
ursu
ant
to t
his
polic
y, p
hysi
cal v
erifi
catio
n of
fixe
das
sets
was
not
car
ried
out d
urin
g th
e ye
ar u
nder
repo
rt a
nd, a
ccor
ding
ly, t
he q
uest
ion
of id
entif
ying
dis
crep
anci
es if
any
, bet
wee
nth
e ph
ysic
al a
sset
s an
d th
e fix
ed a
sset
reco
rds,
doe
s no
t aris
e.
(c)
The
Com
pany
has
not
dis
pose
d of
a s
ubst
antia
l par
t of i
ts fi
xed
asse
ts d
urin
g th
e ye
ar; a
ccor
ding
ly th
ere
is n
o qu
estio
n of
the
goin
g co
ncer
n be
ing
affe
cted
.
(ii)
(a)
Acc
ordi
ng t
o th
e in
form
atio
n an
d ex
plan
atio
ns g
iven
to
us, t
he m
anag
emen
t co
nduc
ted
phys
ical
ver
ifica
tion
of in
vent
ory
atre
ason
able
inte
rval
s du
ring
the
year
.
(b)
In o
ur o
pini
on, a
nd a
ccor
ding
to th
e in
form
atio
n an
d ex
plan
atio
ns g
iven
to u
s, th
e pr
oced
ures
of p
hysi
cal v
erifi
catio
n of
inve
ntor
yfo
llow
ed b
y th
e m
anag
emen
t are
reas
onab
le a
nd a
dequ
ate
in re
latio
n to
the
size
of t
he C
ompa
ny a
nd n
atur
e of
its
busi
ness
.
(c)
In o
ur o
pini
on, t
he C
ompa
ny h
as m
aint
aine
d pr
oper
rec
ords
of i
nven
tory
dur
ing
the
year
. Dis
crep
anci
es n
otic
ed o
n ph
ysic
alve
rific
atio
n of
inve
ntor
y as
com
pare
d to
the
book
reco
rds
wer
e no
t mat
eria
l and
hav
e be
en p
rope
rly d
ealt
with
in th
e bo
oks
ofac
coun
t.
(iii)
Dur
ing
the
year
und
er r
epor
t, th
e Co
mpa
ny h
as n
eith
er g
rant
ed n
or a
vaile
d an
y lo
ans,
sec
ured
or
unse
cure
d, t
o or
fro
mco
mpa
nies
, firm
s or o
ther
par
ties c
over
ed in
the
regi
ster
mai
ntai
ned
unde
r Sec
tion
301
of th
e Co
mpa
nies
Act
, 195
6. A
ccor
ding
ly,
the
prov
isio
ns o
f sub
-cla
uses
(b),
(c),
(d),
(f) a
nd (g
) of c
laus
e (ii
i) of
par
agra
ph 4
of t
he O
rder
, are
not
app
licab
le.
(iv)
In o
ur o
pini
on, t
he C
ompa
ny h
as a
n ad
equa
te in
tern
al c
ontr
ol p
roce
dure
com
men
sura
te w
ith t
he s
ize
of t
he C
ompa
ny a
ndna
ture
of i
ts b
usin
ess
for t
he p
urch
ase
of in
vent
ory
and
fixed
ass
ets
and
for t
he s
ale
of g
oods
and
ser
vice
s. In
the
cour
se o
f our
audi
t, w
e ha
ve n
ot n
otic
ed a
ny c
ontin
uing
failu
re to
cor
rect
maj
or w
eakn
esse
s in
the
inte
rnal
con
trol
sys
tem
.
(v)
(a)
Acc
ordi
ng to
the
info
rmat
ion
and
expl
anat
ions
giv
en to
us,
and
base
d on
the
disc
losu
re o
f int
eres
t mad
e by
the
dire
ctor
s of
the
Com
pany
, we
are
of th
e op
inio
n th
at c
ontr
acts
or a
rran
gem
ents
that
nee
d to
be
ente
red
into
a re
gist
er in
pur
suan
ce o
f Sec
tion
301o
f the
Com
pani
es A
ct, 1
956
have
bee
n so
ent
ered
.
(b)
In o
ur o
pini
on a
nd a
ccor
ding
to th
e in
form
atio
n an
d ex
plan
atio
ns g
iven
to u
s, in
resp
ect o
f the
tran
sact
ions
mad
e in
pur
suan
ceof
con
trac
ts o
r arr
ange
men
ts e
nter
ed in
the
regi
ster
mai
ntai
ned
unde
r Sec
tion
301
of th
e Co
mpa
nies
Act
, 195
6 an
d ex
ceed
ing
the
valu
e of
Rup
ees f
ive
hund
red
thou
sand
for t
he y
ear u
nder
repo
rt, t
he ra
tes a
t whi
ch su
ch se
rvic
es a
re re
nder
ed a
re re
ason
able
havi
ng re
gard
to m
arke
t pric
es o
f suc
h se
rvic
es p
reva
iling
at t
he re
leva
nt ti
mes
.
(vi)
The
Com
pany
has
not
acc
epte
d an
y de
posi
ts fr
om t
he p
ublic
to
whi
ch t
he d
irect
ives
issu
ed b
y th
e Re
serv
e Ba
nk o
f Ind
ia a
ndth
e pr
ovis
ions
of S
ectio
n 58
A, 5
8AA
or a
ny o
ther
rele
vant
pro
visi
ons o
f the
Com
pani
es A
ct, 1
956
and
the
rule
s fra
med
ther
eund
er,
appl
y.
(vii)
In o
ur o
pini
on, t
he C
ompa
ny h
as a
n in
tern
al a
udit
syst
em th
at is
com
men
sura
te w
ith th
e si
ze o
f the
Com
pany
and
the
natu
re o
fits
bus
ines
s.
(viii
)Th
e Ce
ntra
l Gov
ernm
ent h
as n
ot p
resc
ribed
mai
nten
ance
of c
ost r
ecor
ds u
nder
Sec
tion
209(
1)(d
) of t
he C
ompa
nies
Act
, 195
6fo
r any
of t
he a
ctiv
ities
of t
he C
ompa
ny.
(ix)
(a)
Acc
ordi
ng to
the
info
rmat
ion
and
expl
anat
ions
giv
en to
us,
the
Com
pany
was
regu
lar d
urin
g th
e ye
ar in
dep
ositi
ng u
ndis
pute
dst
atut
ory
dues
incl
udin
g Pr
ovid
ent
Fund
, Inv
esto
r Ed
ucat
ion
and
Prot
ectio
n Fu
nd, E
mpl
oyee
s’ St
ate
Insu
ranc
e, In
com
e ta
x,Sa
les
tax,
Ser
vice
tax
, Cus
tom
dut
y an
d Ce
ss w
ith t
he a
ppro
pria
te a
utho
ritie
s. A
s at
the
Bal
ance
She
et d
ate,
the
re w
ere
nost
atut
ory
dues
of a
mat
eria
l nat
ure
that
rem
aine
d un
paid
for a
per
iod
exce
edin
g si
x m
onth
s fr
om th
e da
te th
ey w
ere
paya
ble.
(b)
Acc
ordi
ng t
o th
e in
form
atio
n an
d ex
plan
atio
ns g
iven
to
us, a
s at
the
Bal
ance
She
et d
ate,
the
Com
pany
has
not
dep
osite
d an
amou
nt o
f Rs.
6,04
,986
bei
ng in
com
e ta
x re
latin
g to
the
finan
cial
yea
rs 2
002-
03 a
nd 2
003-
04, i
n re
spec
t of w
hich
dis
pute
s ar
epe
ndin
g be
fore
the
Com
mis
sion
er (A
ppea
ls).
33
AN
NE
XU
RE
TO
AU
DIT
OR
S’
RE
PO
RT
(C
on
td..
.)
(x)
The
Com
pany
doe
s no
t ha
ve a
ny a
ccum
ulat
ed lo
sses
as
at t
he B
alan
ce S
heet
dat
e. T
he C
ompa
ny d
id n
ot in
cur
cash
loss
esdu
ring
the
finan
cial
yea
r und
er re
port
and
in th
e im
med
iate
ly p
rece
ding
fina
ncia
l yea
r.
(xi)
Dur
ing
the
year
und
er re
port
, the
Com
pany
has
not
def
aulte
d in
repa
ymen
t of d
ues
to b
anks
in re
spec
t of i
ts b
orro
win
gs. T
heCo
mpa
ny d
id n
ot h
ave
borr
owin
gs fr
om fi
nanc
ial i
nstit
utio
ns a
nd a
lso
did
not
have
any
deb
entu
res
outs
tand
ing
durin
g th
eye
ar u
nder
repo
rt.
(xii)
Base
d on
our
exa
min
atio
n of
the
boo
ks a
nd re
cord
s of
the
Com
pany
, we
repo
rt t
hat
the
Com
pany
has
not
gra
nted
any
loan
san
d ad
vanc
es o
n th
e ba
sis
of s
ecur
ity b
y w
ay o
f ple
dge
of s
hare
s, d
eben
ture
s or
oth
er s
ecur
ities
.
(xiii
)Th
e Co
mpa
ny is
not
a C
hit F
und,
Nid
hi, o
r a M
utua
l Ben
efit
Fund
/Soc
iety
. Acc
ordi
ngly
, the
pro
visi
ons o
f cla
use
(xiii
) of p
arag
raph
4 of
the
Ord
er a
re n
ot a
pplic
able
.
(xiv
)Ba
sed
on o
ur e
xam
inat
ion
of th
e bo
oks a
nd re
cord
s of t
he C
ompa
ny, w
e re
port
that
dur
ing
the
year
und
er re
port
, it d
id n
ot d
eal
or t
rade
in s
hare
s, s
ecur
ities
, deb
entu
res
and
othe
r in
vest
men
ts.
(xv)
Acco
rdin
g to
the
info
rmat
ion
and
expl
anat
ions
giv
en to
us,
the
Com
pany
has
giv
en g
uara
ntee
s for
loan
s ava
iled
by it
s em
ploy
ees
from
ban
ks a
nd fi
nanc
ial i
nstit
utio
ns, a
ggre
gatin
g to
Rs.
275
.44
lacs
as
at th
e Ba
lanc
e Sh
eet d
ate.
In o
ur o
pini
on, t
he te
rms
and
cond
ition
s of
suc
h gu
aran
tees
are
not
pre
judi
cial
to th
e in
tere
st o
f the
Com
pany
.
(xvi
)Th
e Co
mpa
ny d
id n
ot h
ave
any
term
loan
s ou
tsta
ndin
g du
ring
the
year
und
er r
epor
t; ac
cord
ingl
y, w
e ha
ve n
o co
mm
ents
to
offe
r on
the
prov
isio
ns o
f cla
use
(xvi
) of p
arag
raph
4 o
f the
Ord
er.
(xvi
i)Ac
cord
ing
to th
e in
form
atio
n an
d ex
plan
atio
ns g
iven
to u
s, an
d on
an
over
all e
xam
inat
ion
of th
e ba
lanc
e sh
eet o
f the
Com
pany
,w
e re
port
that
, prim
a fa
cie,
the
Com
pany
has
not
app
lied
shor
t-te
rm fu
nds
for l
ong-
term
inve
stm
ents
.
(xvi
ii)D
urin
g th
e ye
ar u
nder
repo
rt, t
he C
ompa
ny h
as n
ot m
ade
any
pref
eren
tial a
llotm
ent o
f sha
res t
o pa
rtie
s and
com
pani
es c
over
edin
the
regi
ster
mai
ntai
ned
unde
r Sec
tion
301
of th
e Co
mpa
nies
Act
, 195
6.
(xix
)Th
e Co
mpa
ny d
id n
ot h
ave
any
debe
ntur
es o
utst
andi
ng d
urin
g th
e ye
ar u
nder
rep
ort;
acco
rdin
gly,
the
que
stio
n of
cre
atin
gse
curit
y in
resp
ect t
here
of d
oes
not a
rise.
(xx)
The
Com
pany
has
not
rai
sed
any
mon
ey b
y w
ay o
f pub
lic is
sue
durin
g th
e ye
ar u
nder
repo
rt; c
onse
quen
tly, t
he p
rovi
sion
s of
clau
se (x
x) o
f par
agra
ph 4
of t
he O
rder
are
not
app
licab
le.
(xxi
)To
the
best
of o
ur k
now
ledg
e an
d be
lief,
and
acco
rdin
g to
the
info
rmat
ion
and
expl
anat
ions
giv
en to
us,
no
frau
d on
or b
y th
eCo
mpa
ny h
as b
een
notic
ed o
r rep
orte
d du
ring
the
year
.
For R
SM
& C
o.
Char
tere
d Ac
coun
tant
s
Vil
as
Y.
Ra
ne
Part
ner (
F-33
220)
Mum
bai :
Apr
il 20
, 200
7
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
34
Rs.
la
kh
s
As
at
As a
tSc
hedu
les
Ma
rch
31
, 2
00
7M
arch
31,
200
6S
OU
RC
ES
OF
FU
ND
S
Sh
are
ho
lde
rs’
fun
ds
Shar
e ca
pita
l1
3,1
13
.82
3,11
3.82
Rese
rves
and
sur
plus
26
,14
1.8
03,
480.
23
9,2
55
.62
6,59
4.05
De
ferr
ed
ta
x l
iab
ilit
y (
Ne
t)3
81
.48
347.
56
To
tal
9,6
37
.10
6,94
1.61
AP
PL
ICA
TIO
N O
F F
UN
DS
Fix
ed
ass
ets
Gro
ss b
lock
31
0,4
11
.84
7,76
8.75
Less
: Dep
reci
atio
n an
d im
pairm
ent
4,0
94
.55
3,23
9.44
Net
blo
ck6
,31
7.2
94,
529.
31Ca
pita
l wor
k in
pro
gres
s (in
clud
ing
adva
nces
)9
47
.32
314.
59
7,2
64
.61
4,84
3.90
Cu
rre
nt
ass
ets
, lo
an
s a
nd
ad
va
nc
es
Inve
ntor
ies
43
7.4
213
.78
Sund
ry d
ebto
rs5
6,0
18
.08
4,66
3.94
Cash
and
ban
k ba
lanc
es6
2,0
10
.10
1,45
5.24
Loan
s an
d ad
vanc
es7
2,1
63
.78
2,25
1.07
10
,22
9.3
88,
384.
03
Le
ss:
Cu
rre
nt
Lia
bil
itie
s a
nd
Pro
vis
ion
s
Curr
ent
liabi
litie
s8
4,8
73
.12
3,74
6.14
Prov
isio
ns9
2,9
83
.77
2,54
0.18
7,8
56
.89
6,28
6.32
Ne
t c
urr
en
t a
sse
ts2
,37
2.4
92,
097.
71
To
tal
9,6
37
.10
6,94
1.61
BA
LA
NC
E S
HE
ET
AS
AT
MA
RC
H 3
1,
20
07
Sign
ifica
nt a
ccou
ntin
g po
licie
s an
d no
tes
on a
ccou
nts
15
The
sche
dule
s re
ferr
ed to
abo
ve a
nd th
e no
tes
ther
eon
form
an
inte
gral
par
t of t
he B
alan
ce S
heet
.
As
per o
ur re
port
of e
ven
date
att
ache
dFo
r RS
M &
Co
.
Char
tere
d Ac
coun
tant
s
Vil
as
Y.
Ra
ne
Part
ner
Mem
bers
hip
No.
F -
3322
0
Mum
bai,
Apr
il 20
, 200
7
For a
nd o
n be
half
of th
e Bo
ard
Sy
am
al
Gu
pta
Chai
rman
H.
H.
Ma
lgh
am
Dire
ctor
Ma
dh
uk
ar
De
vM
anag
ing
Dire
ctor
V.
Kri
shn
am
urt
hy
Chie
f Fin
anci
al O
ffice
r&
Com
pany
Sec
reta
ry
Mum
bai,
Apr
il 20
, 200
7
35
Rs.
la
kh
s
Sche
dule
sPr
evio
us y
ear
INC
OM
E
Sale
s an
d se
rvic
es10
30
,79
6.3
023
,563
.18
Oth
er in
com
e11
42
.39
68.1
2
To
tal
30
,83
8.6
923
,631
.30
EX
PE
ND
ITU
RE
Cost
of s
ales
123
,61
0.2
93,
514.
33
Pers
onne
l exp
ense
s13
15
,42
9.7
711
,973
.69
Adm
inis
trat
ion
and
selli
ng e
xpen
ses
144
,84
7.4
93,
407.
57
Fina
ncia
l exp
ense
s2
8.8
422
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Dep
reci
atio
n/A
mor
tisat
ion
86
9.6
967
3.35
To
tal
24
,78
6.0
819
,591
.08
Pro
fit
be
fore
ta
x f
or
the
ye
ar
6,0
52
.61
4,04
0.22
Prov
isio
n fo
r tax
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rren
t(7
32
.00
)(4
10.0
0)
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efer
red
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)(1
17.3
8)
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inge
Ben
efit
Tax
(75
.00
)(8
0.00
)
Ne
t P
rofi
t fo
r th
e y
ea
r5
,21
1.6
93,
432.
84
Prof
it br
ough
t for
war
d2
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9.1
11,
294.
54
Bala
nce
avai
labl
e fo
r app
ropr
iatio
n7
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0.8
04,
727.
38
Less
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opos
ed d
ivid
end
2,1
79
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2,02
3.98
Less
:D
ivid
end
tax
ther
eon
37
0.4
428
4.29
Less
:Tr
ansf
er to
gen
eral
rese
rve
60
0.0
040
0.00
Bala
nce
of p
rofit
car
ried
to b
alan
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heet
4,0
80
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2,01
9.11
Earn
ing
per s
hare
of R
s. 10
eac
h - b
asic
and
dilu
ted
( Rs.)
16
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11.0
2
PR
OF
IT A
ND
LO
SS
AC
CO
UN
T F
OR
TH
E Y
EA
R E
ND
ED
MA
RC
H 3
1,
20
07
Sign
ifica
nt a
ccou
ntin
g po
licie
s an
d no
tes
on a
ccou
nts
15
The
sche
dule
s re
ferr
ed to
abo
ve a
nd th
e no
tes
ther
eon
form
an
inte
gral
par
t of t
he P
rofit
& L
oss
acco
unt.
As p
er o
ur re
port
of e
ven
date
att
ache
dFo
r RS
M &
Co
.
Char
tere
d Ac
coun
tant
s
Vil
as
Y.
Ra
ne
Part
ner
Mem
bers
hip
No.
F -
3322
0
Mum
bai,
Apr
il 20
, 200
7
For a
nd o
n be
half
of th
e Bo
ard
Sy
am
al
Gu
pta
Chai
rman
H.
H.
Ma
lgh
am
Dire
ctor
Ma
dh
uk
ar
De
vM
anag
ing
Dire
ctor
V.
Kri
shn
am
urt
hy
Chie
f Fin
anci
al O
ffice
r&
Com
pany
Sec
reta
ry
Mum
bai,
Apr
il 20
, 200
7
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
36
Rs.
la
kh
s
20
06
-07
2005
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A.
Ca
sh f
low
s fr
om
op
era
tin
g a
cti
vit
ies
Ne
t P
rofi
t b
efo
re t
ax
6,0
52
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4,04
0.22
Adju
stm
ent
for:
Dep
reci
atio
n8
69
.69
673.
35In
tere
st in
com
e(4
1.1
4)
(51.
53)
Inte
rest
exp
ense
28
.84
22.1
4Lo
ss/(
Prof
it) o
n sa
le o
f ass
ets
1.5
7—
Ope
ratin
g pr
ofit
befo
re w
orki
ng c
apita
l cha
nges
6,9
11
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4,68
4.18
Dec
reas
e/(In
crea
se) i
n su
ndry
deb
tors
(1,3
54
.14
)(5
50.3
3)D
ecre
ase/
(Incr
ease
) in
inve
ntor
ies
(23
.64
)17
.29
Dec
reas
e/(In
crea
se) i
n lo
ans
and
adva
nces
17
6.9
3(5
67.0
0)In
crea
se/(
Dec
reas
e) in
cur
rent
liab
ilitie
s1
,29
6.2
967
6.14
Cash
inflo
w fr
om o
pera
tions
7,0
07
.01
4,26
0.28
Inco
me
tax
paid
(89
6.6
4)
(391
.88)
Ne
t c
ash
in
flo
w f
rom
op
era
tin
g a
cti
vit
ies
6,1
10
.37
3,86
8.40
B.
Ca
sh f
low
s fr
om
in
ve
stin
g a
cti
vit
ies
Purc
hase
of f
ixed
ass
ets/
Capi
tal a
dvan
ces
(3,2
96
.96
)(1
,932
.79)
Proc
eeds
of s
ale
of fi
xed
asse
ts4
.99
1.45
Inte
rest
rec
eive
d4
1.1
451
.53
Net
cas
h ou
tflo
w fr
om in
vest
ing
activ
ities
(3,2
50
.83
)(1
,879
.81)
C.
Ca
sh f
low
s fr
om
fin
an
cin
g a
cti
vit
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Inte
rest
pai
d(2
8.8
4)
(22.
14)
Div
iden
d pa
id(1
,99
1.9
8)
(1,6
81.7
5)Ta
x on
div
iden
d pa
id(2
83
.86
)(2
40.1
9)
Net
cas
h ou
tflo
w fr
om fi
nanc
ing
activ
ities
(2,3
04
.68
)(1
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.08)
Ne
t in
cre
ase
/(d
ec
rea
se)
in c
ash
an
d c
ash
eq
uiv
ale
nts
55
4.8
644
.51
Cash
and
cas
h eq
uiva
lent
s as
at b
egin
ning
of t
he y
ear
1,4
55
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1,41
0.73
Cash
and
cas
h eq
uiva
lent
s as
at e
nd o
f the
yea
r2
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0.1
01,
455.
24
CA
SH
FL
OW
ST
AT
EM
EN
T F
OR
TH
E Y
EA
R E
ND
ED
MA
RC
H 3
1,
20
07
As
per o
ur re
port
of e
ven
date
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ache
dFo
r RS
M &
Co
.
Char
tere
d Ac
coun
tant
s
Vil
as
Y.
Ra
ne
Part
ner
Mem
bers
hip
No.
F -
3322
0
Mum
bai,
Apr
il 20
, 200
7
For a
nd o
n be
half
of th
e Bo
ard
Sy
am
al
Gu
pta
Chai
rman
H.
H.
Ma
lgh
am
Dire
ctor
Ma
dh
uk
ar
De
vM
anag
ing
Dire
ctor
V.
Kri
shn
am
urt
hy
Chie
f Fin
anci
al O
ffice
r&
Com
pany
Sec
reta
ry
Mum
bai,
Apr
il 20
, 200
7
37
SC
HE
DU
LE
S T
O B
AL
AN
CE
SH
EE
T A
S A
T M
AR
CH
31
, 2
00
7R
s. l
ak
hs
As a
tM
arch
31,
200
61
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HA
RE
CA
PIT
AL
Au
tho
ris
ed
:
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00,0
00 e
quity
sha
res
of R
s. 10
/- e
ach
3,5
00
.00
3,50
0.00
Issu
ed a
nd s
ubsc
ribed
:31
,165
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equ
ity s
hare
s of
Rs.
10/-
eac
h3
,11
6.5
63,
116.
56
Paid
up:
31,1
38,2
20 e
quity
sha
res
of R
s.10/
- eac
h, fu
lly p
aid
up3
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3.8
23,
113.
82
To
tal
3,1
13
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3,11
3.82
2.
RE
SE
RV
ES
AN
D S
UR
PL
US
Ca
pit
al
rese
rve
:
Subs
idy
rece
ived
from
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ala
Stat
e G
over
nmen
t2
5.0
025
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Ge
ne
ral
rese
rve
:
Ope
ning
bal
ance
1,4
36
.12
1,03
6.12
Add:
Tran
sfer
red
from
the
Prof
it an
d40
0.00
Loss
acc
ount
60
0.0
02
,03
6.1
21,
436.
12
Surp
lus
in P
rofit
and
loss
acc
ount
4,0
80
.68
2,01
9.11
To
tal
6,1
41
.80
3,48
0.23
3.
FIX
ED
AS
SE
TS
Rs.
La
kh
s
DE
SC
RIP
TIO
NG
ross
Blo
ckD
ep
rec
iati
on
Blo
ck
Ne
t B
loc
k
As a
tSa
le/
As
at
As a
tFo
r the
Sale
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s a
tIm
paire
dA
s a
tAs
at
Apr
il 1,
Addi
tions
Adju
stm
ent
Ma
rch
31
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ril 1
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riod
Adju
stm
ent
Ma
rch
31
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sets
Ma
rch
31
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arch
31,
2006
20
07
200
62
00
72
00
720
06
Land
- Fr
eeho
ld49
.06
——
49
.06
——
——
—4
9.0
649
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Land
- Le
aseh
old
82.5
0—
—8
2.5
01.
243.
30—
4.5
4—
77
.96
81.2
6
Build
ings
1,17
4.62
537.
193.
531
,70
8.2
822
1.39
56.4
11.
102
76
.70
—1
,43
1.5
895
3.23
Impr
ovem
ents
to11
4.04
164.
866.
442
72
.46
113.
1222
.78
6.45
12
9.4
5—
14
3.0
10.
92le
aseh
old
prem
ises
Plan
t and
mac
hine
ry20
1.95
——
20
1.9
511
2.71
0.57
—1
13
.28
81
.86
6.8
17.
38
Com
pute
r eq
uipm
ent
3,43
7.31
1,04
7.82
0.85
4,4
84
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1,58
7.69
496.
060.
852
,08
2.9
0—
2,4
01
.38
1,84
9.62
Furn
iture
and
fixt
ures
715.
6022
0.68
2.08
93
4.2
022
0.25
67.4
21.
012
86
.66
—6
47
.54
495.
35
Offi
ce e
quip
men
t63
5.49
265.
772.
118
99
.15
110.
4136
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0.95
14
6.4
1—
75
2.7
452
5.08
Vehi
cles
37.0
98.
366.
133
9.3
214
.42
3.90
4.22
14
.10
—2
5.2
222
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Inta
ngib
les
- Sof
twar
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321.
0941
9.55
—1
,74
0.6
477
6.35
182.
30—
95
8.6
5—
78
1.9
954
4.74
To
tal
7,76
8.75
2,66
4.23
21.1
41
0,4
11
.84
3,15
7.58
869.
6914
.58
4,0
12
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81
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6,3
17
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4,52
9.31
Prev
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Yea
r6,
043.
921,
727.
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177
,76
8.7
52,
484.
9567
3.35
0.72
3,15
7.58
81.8
64,
529.
31
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
38
Rs.
la
kh
s
As a
tM
arch
31,
200
64
.IN
VE
NT
OR
IES
(as
take
n, v
alue
d an
d ce
rtifi
ed b
y m
anag
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t)Co
mpo
nent
s an
d sp
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37
.42
13.7
8T
ota
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7.4
213
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5.
SU
ND
RY
DE
BT
OR
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ecur
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cons
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ood)
Deb
ts o
utst
andi
ng fo
r a p
erio
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ceed
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six
mon
ths
86
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88.6
8O
ther
deb
ts5
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1.8
14,
575.
26
To
tal
6,0
18
.08
4,66
3.94
6.
CA
SH
AN
D B
AN
K B
AL
AN
CE
S
Cash
on
hand
0.6
90.
71Ch
eque
s on
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01
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279.
13Fu
nds
in tr
ansi
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22
.48
275.
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lanc
es w
ith s
ched
uled
ban
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in c
urre
nt a
ccou
nts
- for
une
ncas
hed
debe
ntur
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dem
ptio
n, in
tere
st w
arra
nts
and
divi
dend
s1
73
.54
154.
88-
in c
urre
nt a
ccou
nts
1,1
87
.80
420.
39-
in d
epos
it ac
coun
ts1
.02
0.29
1,3
62
.36
575.
56Ba
lanc
es w
ith n
on-s
ched
uled
ban
ks -
in c
urre
nt a
ccou
nts
22
3.2
332
4.35
To
tal
2,0
10
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1,45
5.24
7.
LO
AN
S A
ND
AD
VA
NC
ES
(Uns
ecur
ed, c
onsi
dere
d go
od)
Adva
nces
reco
vera
ble
in c
ash
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kin
dor
for v
alue
to b
e re
ceiv
ed8
43
.60
994.
92U
nbill
ed r
even
ues
20
2.7
028
6.67
Dep
osits
59
8.1
653
9.80
TDS/
Adv
ance
tax
paid
(Net
of p
rovi
sion
for t
ax)
51
9.3
242
9.68
To
tal
2,1
63
.78
2,25
1.07
8.
CU
RR
EN
T L
IAB
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IES
Sund
ry c
redi
tors
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er N
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15 in
Sch
edul
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1.6
83,
129.
54Ad
vanc
e fro
m c
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mer
s1
85
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121.
25In
vest
or E
duca
tion
and
Prot
ectio
n Fu
nd s
hall
becr
edite
d by
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win
g am
ount
s w
hen
due:
Une
ncas
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divi
dend
17
3.5
514
1.55
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arne
d re
venu
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99
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22.7
1O
ther
liab
ilitie
s6
83
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331.
09
To
tal
4,8
73
.12
3,74
6.14
9.
PR
OV
ISIO
NS
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n fo
r lea
ve e
ncas
hmen
t3
52
.45
202.
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ovis
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for G
ratu
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1.2
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iden
d2
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82,
023.
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x on
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70
.44
283.
86
To
tal
2,9
83
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2,54
0.18
SC
HE
DU
LE
S T
O B
AL
AN
CE
SH
EE
T A
S A
T M
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31
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Co
ntd
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39
SC
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DU
LE
S T
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DE
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AR
CH
31
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7R
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AN
D S
ER
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ES
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d su
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et o
f ret
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3.2
54,
596.
93Se
rvic
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6,2
57
.71
18,8
81.2
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mpu
ter
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rent
als
5.3
485
.00
To
tal
30
,79
6.3
023
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11
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TH
ER
IN
CO
ME
Inte
rest
from
:-
bank
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4.4
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ourc
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othe
rs1
6.6
846
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41
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51.5
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llane
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inco
me
1.2
516
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To
tal
42
.39
68.1
2
12
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Cost
of g
oods
sol
d3
,37
8.9
63,
211.
76M
aint
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pare
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31
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ase
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To
tal
3,6
10
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3,51
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13
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ER
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ST
Sala
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14
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2.7
411
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ribut
ion
to p
rovi
dent
and
oth
er fu
nds
83
4.4
149
1.21
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f wel
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exp
ense
s1
92
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192.
37
To
tal
15
,42
9.7
711
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ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
40
Rs.
la
kh
s
14
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DM
INIS
TR
AT
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AN
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LIN
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Ope
ratin
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ase
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60
3.7
141
0.27
Rate
s an
d ta
xes
34
.14
23.3
9Po
wer
and
fuel
34
9.3
027
0.70
Repa
irs a
nd m
aint
enan
ce:
build
ing
20
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6.86
plan
t and
mac
hine
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48
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92.3
9ot
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15
2.9
711
5.94
32
1.5
021
5.19
Tele
phon
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atal
ink,
cou
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73
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424.
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land
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87
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vers
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11,
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ss:
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48
4.4
07
46
.61
331.
7469
2.45
Adve
rtis
emen
t an
d sa
les
prom
otio
n ex
pens
es2
62
.94
135.
17Co
mm
issi
on o
n sa
les
21
2.3
515
9.46
Hiri
ng c
harg
es3
6.4
927
.81
Prin
ting
and
stat
ione
ry8
2.9
267
.52
Mot
or v
ehic
le e
xpen
ses
12
1.1
394
.16
Recr
uitm
ent
11
0.5
589
.05
Trai
ning
25
1.4
614
0.52
Lega
l and
pro
fess
iona
l cha
rges
47
.22
52.0
3Se
cret
aria
l cha
rges
6.6
69.
69In
sura
nce
57
.65
38.2
1Lo
ss o
n sa
le o
f ass
et1
.57
—Ba
nk a
nd o
ther
cha
rges
46
.73
39.1
2Ex
chan
ge lo
ss (n
et)
40
5.9
344
.32
Com
mis
sion
to
non-
exec
utiv
e di
rect
ors
45
.00
41.0
0Au
dito
rs’ r
emun
erat
ion
12
.35
13.3
1Ba
d de
bts/
adva
nces
writ
ten
off (
net o
f cre
dit b
alan
ces)
38
.26
61.4
6G
ener
al e
xpen
ses
92
.39
90.8
0
To
tal
4,8
47
.49
3,40
7.57
SC
HE
DU
LE
S T
O P
RO
FIT
AN
D L
OS
S A
CC
OU
NT
FO
R T
HE
YE
AR
EN
DE
D M
AR
CH
31
, 20
07
(Co
ntd
...)
41
SC
HE
DU
LE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S F
OR
TH
E Y
EA
R E
ND
ED
MA
RC
H 3
1,
20
07
Sc
he
du
le 1
5 -
Sig
nif
ica
nt
Acc
ou
nti
ng
Po
lic
ies
an
d N
ote
s o
n A
cco
un
ts
A.
SIG
NIF
ICA
NT
AC
CO
UN
TIN
G P
OL
ICIE
S
1.
Ba
sis
of
pre
pa
rati
on
The
finan
cial
stat
emen
ts a
re p
repa
red
in a
ccor
danc
e w
ith In
dian
Gen
eral
ly A
ccep
ted
Acco
untin
g Pr
inci
ples
(“G
AA
P”) u
nder
the
hist
oric
alco
st c
onve
ntio
n on
the
acc
rual
bas
is o
f acc
ount
ing
and
com
ply
with
the
man
dato
ry a
ccou
ntin
g st
anda
rds
and
stat
emen
ts is
sued
by
Inst
itute
of C
hart
ered
Acc
ount
ants
of I
ndia
, (IC
AI)
and
the
prov
isio
ns o
f the
Com
pani
es A
ct, 1
956.
2.
Use
of
est
ima
tes
The
prep
arat
ion
of fi
nanc
ial s
tate
men
ts in
con
form
ity w
ith G
AA
P re
quire
s m
anag
emen
t to
mak
e es
timat
es a
nd a
ssum
ptio
ns th
at a
ffect
the
repo
rted
am
ount
s of a
sset
s and
liab
ilitie
s and
the
disc
losu
re o
f con
tinge
nt a
sset
s and
liab
ilitie
s at t
he d
ate
of th
e fin
anci
al st
atem
ents
and
the
repo
rted
am
ount
s of
reve
nues
and
exp
ense
s du
ring
the
perio
d re
port
ed. A
ctua
l res
ults
cou
ld d
iffer
from
thos
e es
timat
es. A
nyre
visi
on to
acc
ount
ing
estim
ates
is re
cogn
ised
pro
spec
tivel
y in
the
curr
ent a
nd fu
ture
per
iods
.
3.
Fix
ed
ass
ets
Fixe
d as
sets
are
sta
ted
at c
ost,
less
acc
umul
ated
dep
reci
atio
n/am
ortis
atio
n.
Dep
reci
atio
n is
pro
vide
d on
str
aigh
t lin
e m
etho
d on
pro
rata
bas
is in
acc
orda
nce
with
the
prov
isio
ns o
f Sch
edul
e XI
V to
the
Com
pani
esAc
t, 19
56, e
xcep
t th
at le
aseh
old
land
and
impr
ovem
ents
to
leas
ehol
d pr
emis
es is
dep
reci
ated
ove
r th
e le
ase
perio
d on
str
aigh
t-lin
eba
sis.
If an
y ad
ditio
n to
the
fixed
ass
ets i
s mad
e on
or b
efor
e 15
th o
f the
mon
th, t
hen
full
depr
ecia
tion
for t
hat m
onth
is p
rovi
ded,
oth
erw
ise
node
prec
iatio
n is
pro
vide
d fo
r tha
t mon
th.
Capi
tal a
dvan
ces
repr
esen
t out
stan
ding
or a
dvan
ce p
aid
to a
cqui
re fi
xed
asse
ts.
4.
Imp
air
me
nt
of
ass
ets
At e
ach
bala
nce
shee
t dat
e, th
e Co
mpa
ny re
view
s the
car
ryin
g am
ount
s of i
ts fi
xed
asse
ts to
det
erm
ine
whe
ther
ther
e is
any
indi
catio
n th
atth
ose
asse
ts su
ffere
d an
impa
irmen
t los
s. If
any
such
indi
catio
n ex
ists,
the
reco
vera
ble
amou
nt o
f the
ass
et is
est
imat
ed in
ord
er to
det
erm
ine
the
exte
nt o
f im
pairm
ent l
oss.
Reco
vera
ble
amou
nt is
the
high
er o
f an
asse
t’s n
et se
lling
pric
e an
d va
lue
in u
se. I
n as
sess
ing
valu
e in
use
, the
estim
ated
futu
re c
ash
flow
s exp
ecte
d fro
m th
e co
ntin
uing
use
of t
he a
sset
and
from
its d
ispos
al a
re d
iscou
nted
to th
eir p
rese
nt v
alue
usin
ga
pre-
disc
ount
rate
that
refle
cts
the
curr
ent m
arke
t ass
essm
ent o
f tim
e va
lue
of m
oney
and
the
risks
spe
cific
to th
e as
set.
Reve
rsal
of i
mpa
irmen
t los
s is
reco
gnis
ed im
med
iate
ly a
s in
com
e in
the
prof
it an
d lo
ss a
ccou
nt.
5.
Inv
en
tori
es
Com
pone
nts
and
spar
es a
re v
alue
d at
cos
t. C
ost i
s de
term
ined
on
the
basi
s of
spe
cific
iden
tific
atio
n m
etho
d. A
ppro
pria
te p
rovi
sion
sar
e m
ade
for a
ntic
ipat
ed lo
sses
, if a
ny.
Com
pute
r sy
stem
s an
d so
ftw
are,
com
pone
nts
and
spar
es in
tend
ed fo
r cu
stom
er s
uppo
rt a
re w
ritte
n of
f ove
r th
e ef
fect
ive
life
of t
hesy
stem
s m
aint
aine
d, a
s es
timat
ed b
y th
e m
anag
emen
t.
6.
Inc
om
e
Sale
s
Inco
me
from
sale
s is r
ecog
nise
d up
on c
ompl
etio
n of
sale
. War
rant
y ch
arge
s for
min
g pa
rt o
f the
sale
s are
not
reco
gnis
ed se
para
tely
and
expe
nditu
re in
this
rega
rd is
acc
ount
ed a
s an
d w
hen
incu
rred
.
Serv
ices
a)In
com
e fr
om s
ervi
ces
is r
ecog
nise
d up
on r
ende
ring
of t
he s
ervi
ces.
Inco
me
from
mai
nten
ance
con
trac
ts r
elat
ing
to t
he y
ear
isre
cogn
ised
whe
n th
e co
ntra
cts
are
ente
red
into
on
a tim
e pr
opor
tiona
te b
asis
.b)
Reve
nue
from
soft
war
e de
velo
pmen
t on
fixed
pric
e, fi
xed
time
fram
e co
ntra
cts i
s rec
ogni
sed
as p
er th
e pr
opor
tiona
te c
ompl
etio
nm
etho
d. O
n tim
e an
d m
ater
ials
con
trac
ts, r
even
ue is
reco
gnis
ed a
s th
e re
late
d se
rvic
es a
re re
nder
ed.
c)In
resp
ect o
f ord
ers p
rocu
red,
for w
hich
sale
s are
effe
cted
dire
ctly
to th
e cu
stom
ers b
y Co
mpa
ny’s
vend
ors,
the
Com
pany
acc
ount
son
ly fo
r the
com
mis
sion
, ins
talla
tion
and
othe
r cha
rges
to w
hich
it is
ent
itled
.7
.R
eti
rem
en
t B
en
efi
ts
Liab
ility
for g
ratu
ity a
nd s
uper
annu
atio
n is
fund
ed w
ith th
e Li
fe In
sura
nce
Corp
orat
ion
of In
dia
and
incr
emen
tal l
iabi
lity
for t
he y
ear i
sch
arge
d to
the
prof
it an
d lo
ss a
ccou
nt.
Prov
isio
n fo
r lea
ve e
ncas
hmen
t is
base
d on
act
uaria
l val
uatio
n do
ne a
s at
the
clos
e of
the
finan
cial
yea
r.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
42
SC
HE
DU
LE
S T
O T
HE
FIN
AN
CIA
L S
TAT
EM
EN
TS
FO
R T
HE
YE
AR
EN
DE
D M
AR
CH
31
, 20
07
(C
on
td...
)8
.R
ese
arc
h a
nd
De
ve
lop
me
nt
Expe
nditu
re o
n re
sear
ch a
nd d
evel
opm
ent o
n re
venu
e ac
coun
t is c
harg
ed o
ff to
the
prof
it an
d lo
ss a
ccou
nt. A
sset
s acq
uire
d fo
r res
earc
han
d de
velo
pmen
t act
ivity
are
cap
italis
ed a
nd d
epre
ciat
ed in
the
sam
e m
anne
r as
othe
r fix
ed a
sset
s.
9.
Fo
reig
n c
urr
en
cy
tra
nsa
cti
on
s
a)Fo
reig
n br
anch
es:
i)Fi
xed
asse
ts a
re t
rans
late
d at
the
rat
es o
n th
e da
te o
f pur
chas
e of
ass
ets
and
depr
ecia
tion
is c
alcu
late
d on
the
val
ue s
oar
rived
.ii)
Curr
ent a
sset
s an
d cu
rren
t lia
bilit
ies
are
tran
slat
ed a
t the
exc
hang
e ra
te p
reva
iling
as
at th
e en
d of
the
finan
cial
yea
r.iii
)In
com
e an
d ex
pens
es a
re tr
ansl
ated
at a
vera
ge ra
tes
of e
xcha
nge.
b)O
ther
fore
ign
curr
ency
tra
nsac
tions
:
i)Fo
reig
n ex
chan
ge tr
ansa
ctio
ns a
re re
cord
ed a
t the
rate
s of e
xcha
nge
on th
e da
tes o
f the
resp
ectiv
e tr
ansa
ctio
ns. A
sset
s and
liabi
litie
s de
sign
ated
in fo
reig
n cu
rren
cy a
re c
onve
rted
into
rup
ees
at t
he r
ates
of e
xcha
nge
prev
ailin
g as
on
the
bala
nce
shee
t dat
e or
at t
he ra
te c
ontr
acte
d an
d co
rres
pond
ing
adju
stm
ent m
ade
to th
e re
leva
nt in
com
e, e
xpen
ditu
re, a
sset
s an
dlia
bilit
ies.
ii)Fo
rwar
d co
ntra
cts
are
acco
unte
d at
mat
urity
or o
n ca
ncel
latio
n.
10
.T
ax
ati
on
Curr
ent
inco
me
tax
expe
nse
com
pris
es t
axes
on
inco
me
from
ope
ratio
ns in
Indi
a an
d fo
reig
n ta
x ju
risdi
ctio
ns. I
ncom
e ta
x pa
yabl
e in
Indi
a is
det
erm
ined
in a
ccor
danc
e w
ith t
he p
rovi
sion
s of
the
Inco
me
Tax
Act
, 196
1. T
ax e
xpen
se r
elat
ing
to o
vers
eas
oper
atio
ns is
dete
rmin
ed in
acc
orda
nce
with
tax
law
s ap
plic
able
in c
ount
ries
whe
re s
uch
oper
atio
ns a
re d
omic
iled.
Def
erre
d ta
x ex
pens
e or
ben
efit
is r
ecog
nise
d on
tim
ing
diffe
renc
es b
eing
the
diff
eren
ce b
etw
een
taxa
ble
inco
me
and
acco
untin
gin
com
e th
at o
rigin
ate
in o
ne p
erio
d an
d ar
e ca
pabl
e of
reve
rsal
in o
n or
mor
e su
bseq
uent
per
iods
. Def
erre
d ta
x as
sets
and
liab
ilitie
s ar
em
easu
red
usin
g th
e ta
x ra
tes
and
tax
law
s th
at h
ave
been
ena
cted
or s
ubst
antiv
ely
enac
ted
by th
e ba
lanc
e sh
eet d
ate.
Def
erre
d ta
x as
sets
in re
spec
t of
una
bsor
bed
depr
ecia
tion
and
carr
y fo
rwar
d of
loss
es a
re re
cogn
ised
onl
y to
the
ext
ent
that
the
re is
virt
ual c
erta
inty
that
suf
ficie
nt ta
xabl
e in
com
e w
ill b
e av
aila
ble
to re
alis
e th
ese
asse
ts.
All
othe
r def
erre
d ta
x as
sets
are
reco
gnis
ed o
nly
to th
e ex
tent
that
ther
e is
reas
onab
le c
erta
inty
that
suf
ficie
nt fu
ture
taxa
ble
inco
me
will
be
avai
labl
e to
real
ise
thes
e as
sets
.
11
.S
ub
sid
ies
Subs
idie
s no
t spe
cific
ally
rela
ted
to fi
xed
asse
ts a
re c
redi
ted
to c
apita
l res
erve
.
Oth
er re
venu
e su
bsid
ies
are
cred
ited
to p
rofit
and
loss
acc
ount
or d
educ
ted
from
rela
ted
expe
nses
.
B.
NO
TE
S O
N A
CC
OU
NT
S :
12
.Es
timat
ed a
mou
nt o
f con
trac
ts re
mai
ning
to b
e ex
ecut
ed o
n ca
pita
l acc
ount
(net
of a
dvan
ces)
Rs.
480.
31 la
khs
(pre
viou
s ye
ar R
s. 59
7.75
lakh
s).
13
.C
on
tin
ge
nt
lia
bil
itie
s
a)Co
unte
r gua
rant
ees
give
n to
ban
kers
for g
uara
ntee
s is
sued
by
the
bank
ers
Rs. 6
91.0
7 la
khs
(pre
viou
s ye
ar R
s. 73
5.96
lakh
s).
b)D
ispu
ted
dem
ands
for I
ncom
e Ta
x ag
greg
ates
to R
s. 38
2.88
lakh
s (p
revi
ous
year
Rs.
307.
58 la
khs)
.
c)G
uara
ntee
s giv
en to
Hou
sing
Fin
ance
Com
pany
for h
ousi
ng lo
ans a
vaile
d by
em
ploy
ees d
urin
g th
eir e
mpl
oym
ent w
ith th
e Co
mpa
nyRs
. 275
.44
lakh
s (P
revi
ous
year
Rs.
318.
41 la
khs)
.
d)D
ispu
ted
amou
nt o
f Sal
es T
ax a
ggre
gate
s to
Rs.
8.15
lakh
s (p
revi
ous
year
Rs.
5.58
Lak
hs).
14
.Th
e Co
mpa
ny h
as cr
edit
faci
lity
from
ban
ks se
cure
d by
hyp
othe
catio
n of
stoc
k of
com
pone
nts a
nd sp
ares
, com
pute
r sys
tem
s, co
nsum
able
sst
ores
, boo
k de
bts
etc.
; par
i pas
su c
harg
e on
imm
ovab
le p
rope
rty
at K
arna
taka
and
oth
er m
ovab
le p
rope
rtie
s.
15
.a
)Ba
sed
on th
e in
form
atio
n av
aila
ble
with
man
agem
ent,
the
Com
pany
doe
s not
ow
e an
y su
m to
a sm
all-s
cale
indu
stria
l und
erta
king
as d
efin
ed in
cla
use
(j) to
Sec
tion
3 of
the
Indu
strie
s (D
evel
opm
ent a
nd R
egul
atio
n) A
ct, 1
951.
b)
Base
d on
the
info
rmat
ion
avai
labl
e w
ith m
anag
emen
t, t
he C
ompa
ny d
oes
not
owe
dues
und
er t
he M
icro
, Sm
all a
nd M
ediu
mEn
terp
rises
Dev
elop
men
t A
ct, 2
006.
43
SC
HE
DU
LE
S T
O T
HE
FIN
AN
CIA
L S
TAT
EM
EN
TS
FO
R T
HE
YE
AR
EN
DE
D M
AR
CH
31
, 20
07
(C
on
td...
)1
6.
Bank
bal
ance
s –
Det
ails
of b
alan
ces
kept
with
non
-sch
edul
ed b
anks
as
on b
alan
ce s
heet
dat
e an
d th
e m
axim
um b
alan
ces
kept
with
non-
sche
dule
d ba
nks
durin
g th
e ye
ar a
re a
s fo
llow
s:
Rs.
la
kh
s
Na
me
of
the
no
n-s
ch
ed
ule
dB
ala
nc
e a
s a
tM
ax
imu
m b
ala
nc
e h
eld
fo
r
ba
nk
sM
arc
h 3
1,
the
ye
ar
en
de
d M
arc
h 3
1,
20
07
2006
20
07
2006
HSB
C Lo
ndon
54
.80
19.
148
1.7
330
.69
Sum
itom
o M
itsui
Ban
king
Cor
pora
tion
Toky
o2
.56
268.
469
58
.71
307.
21D
euts
che
Bank
AG
Fra
nkfu
rt2
4.2
736
.75
62
.24
124.
47Ba
nk o
f Tok
yo (M
itzub
ishi
)1
41
.60
N.A
.1
33
2.5
0N
.A.
Tota
l 2
23
.23
324.
35
17
.P
art
icu
lars
in
re
spe
ct
of
sale
s, s
toc
ks
etc
.
Rs.
la
kh
s
Cla
ss o
f g
oo
ds
Op
en
ing
Sto
ckC
losi
ng
Sto
ckP
urc
ha
se
sS
ale
s
No
s.V
alu
eN
os.
Va
lue
No
s.V
alu
eN
os.
Va
lue
Com
pute
r sy
stem
s,Pe
riphe
rals
, etc
20
07
Wo
rks
tati
on
s—
——
—1
63
22
7.4
21
63
25
5.8
3
De
skto
ps
——
——
——
——
2006
Wor
ksta
tions
——
——
535
637.
9653
570
4.40
Des
ktop
s—
——
—10
5.28
103.
35
Soft
war
e, e
tc.
20
07
——
1,9
33
.61
2,8
22
.05
2006
——
1,83
4.39
2,40
8.62
To
tal
—2
,16
1.0
33
,07
7.8
8
(Pre
viou
s yea
r)—
2,47
7.63
3,11
6.37
Qua
ntiti
es a
re e
xpre
ssed
in te
rms
of b
ase
units
whe
reas
the
corr
espo
ndin
g va
lue
incl
udes
per
iphe
rals
, etc
.
18
.Im
po
rts
(va
lue
d o
n t
he
co
st,
insu
ran
ce
an
d f
reig
ht
ba
sis)
Rs.
la
kh
s
20
06
-07
2005
-06
Com
pute
r sy
stem
s, Pe
riphe
rals
,So
ftw
are,
etc
.1
,04
0.9
51,
461.
60Ca
pita
l goo
ds8
27
.22
577.
68
1,8
68
.17
2,03
9.28
19
.E
xp
en
dit
ure
in
fo
reig
n e
xc
ha
ng
e
Ove
rsea
s of
fices
’ exp
ense
s4
,77
7.2
83,
790.
25Fo
reig
n tr
avel
71
5.7
953
6.20
Oth
er e
xpen
ditu
re2
31
.49
103.
23
5,7
24
.56
4,42
9.68
20
.E
arn
ing
s in
fo
reig
n c
urr
en
cy
Serv
ice
inco
me
21
,96
2.7
415
,226
.71
21
.P
art
icu
lars
of
ea
rnin
g p
er
sha
re
Net
pro
fit fo
r the
yea
r (Rs
. lak
hs)
5,2
11
.69
3,43
2.84
Num
ber o
f equ
ity s
hare
s3
1,1
38
,22
031
,138
,220
Nom
inal
val
ue o
f the
sha
res
(Rs.)
10
.00
10.0
0Ea
rnin
g pe
r sha
re (R
s.)1
6.7
411
.02
22
.Pr
ovis
ion
for t
ax in
clud
es R
s. 18
0 la
khs
in re
spec
t of o
vers
eas
oper
atio
ns in
clud
ing
Rs. 8
0 la
khs
pert
aini
ng to
ear
lier y
ear.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
44
SC
HE
DU
LE
S T
O T
HE
FIN
AN
CIA
L S
TAT
EM
EN
TS
FO
R T
HE
YE
AR
EN
DE
D M
AR
CH
31
, 20
07
(C
on
td...
)2
3.
De
ferr
ed
ta
xa
tio
n
In a
ccor
danc
e w
ith A
ccou
ntin
g St
anda
rd 2
2 “ A
ccou
ntin
g fo
r Tax
es o
n In
com
e” (A
S 22
) and
the
pron
ounc
emen
ts is
sued
by
the
Inst
itute
of C
hart
ered
Acc
ount
ants
of I
ndia
, the
Com
pany
has
acc
ount
ed fo
r def
erre
d ta
xes
durin
g th
e ye
ar.
Follo
win
g ar
e th
e m
ajor
com
pone
nts
of d
efer
red
tax
asse
ts/(
liabi
litie
s):
Rs.
la
kh
s
As
at
As a
tM
arc
h 3
1,
20
07
Mar
ch 3
1, 2
006
Diff
eren
ce b
etw
een
book
and
tax
depr
ecia
tion
(56
5.1
4)
(453
.42)
Gra
tuity
and
oth
er a
mou
nts
that
can
be
clai
med
in ta
x as
sess
men
ts in
futu
re1
83
.66
105.
86
To
tal
(ne
t)(3
81
.48
)(3
47.5
6)
24
.R
ela
ted
pa
rty
tra
nsa
cti
on
s
The
Com
pany
has
ent
ered
into
rela
ted
part
y tr
ansa
ctio
ns w
hose
det
ails
are
giv
en b
elow
:
Rs.
in
la
kh
s
Na
me
of
rela
ted
pa
rty
Na
ture
of
rela
tio
nN
atu
re o
f T
ran
sac
tio
n2
00
6-0
720
05-0
6
Tata
Con
sulta
ncy
Serv
ices
Lim
ited
Asso
ciat
e Co
mpa
nySa
les
and
Serv
ices
22
1.2
971
0.95
Purc
hase
s2
1.0
110
8.90
Out
stan
ding
at t
he y
ear e
nd1
46
.54
77.4
7
Tata
Son
s Li
mite
dAs
soci
ate
Com
pany
Bran
d Fe
e an
d ot
her s
ervi
ces
92
.02
19.5
0
Out
stan
ding
at t
he y
ear e
nd8
6.4
119
.50
Mr.
Mad
huka
r Dev
Key
man
agem
ent
Man
ager
ial R
emun
erat
ion
46
.96
40.6
9
pers
onne
lCo
mm
issi
on4
5.0
032
.00
25
.F
ina
nc
e l
ea
se
The
Com
pany
has
sold
com
pute
r har
dwar
e/so
ftw
are
and
perip
hera
ls o
n hi
re-p
urch
ase
basi
s. Fu
ture
min
imum
leas
e pa
ymen
ts re
ceiv
able
sar
e as
follo
ws:
As
at
Ma
rch
31
,R
s. l
ak
hs
20
07
2006
Pre
se
nt
Pres
ent
Va
lue
Val
ue
Min
imum
leas
e pa
ymen
t upt
o th
e en
d of
the
leas
e3
2.5
03
1.4
520
6.04
188.
55D
ue n
ot la
ter t
han
one
year
32
.50
31
.45
173.
5415
7.10
Due
late
r tha
n on
e ye
ar, a
nd n
ot la
ter t
han
5 ye
ars
——
32.5
031
.45
Due
late
r tha
n 5
Year
s—
——
—U
near
ned
finan
ce—
1.05
—17
.49
26
.S
eg
me
nt
rep
ort
ing
The
Com
pany
’s op
erat
ions
pre
dom
inan
tly re
late
to p
rovi
ding
syst
ems i
nteg
ratio
n an
d so
ftw
are
deve
lopm
ent s
ervi
ces i
n th
e In
form
atio
nTe
chno
logy
fiel
d.
Acc
ordi
ngly
the
sys
tem
s in
tegr
atio
n &
sup
port
and
sof
twar
e de
velo
pmen
t &
ser
vice
s co
mpr
ise
the
prim
ary
basi
s fo
r se
gmen
tal
info
rmat
ion.
The
sec
onda
ry s
egm
ent
is g
eogr
aphi
cal,
dete
rmin
ed b
ased
on
the
loca
tion
of t
he c
lient
s, w
here
invo
iced
. Cl
ient
s ar
ecl
assi
fied
as e
ither
dom
estic
or o
vers
eas
(com
pris
ing
of J
apan
, Nor
th A
mer
ica
and
Euro
pe).
Fixe
d as
sets
use
d in
the
Com
pany
’s bu
sine
ss o
r lia
bilit
ies
cont
ract
ed h
ave
not b
een
iden
tifie
d to
any
seg
men
ts, a
s al
loca
tion
of a
sset
san
d lia
bilit
ies
to th
e se
gmen
ts is
cur
rent
ly n
ot p
ract
icab
le. A
ccor
ding
ly,
no d
iscl
osur
e re
latin
g to
seg
men
t ass
ets
are
mad
e.
45
SC
HE
DU
LE
S T
O T
HE
FIN
AN
CIA
L S
TAT
EM
EN
TS
FO
R T
HE
YE
AR
EN
DE
D M
AR
CH
31
, 20
07
(C
on
td...
)P
rim
ary
se
gm
en
t in
form
ati
on
Rs.
la
kh
s
Sy
ste
ms
So
ftw
are
To
tal
Inte
gra
tio
n a
nd
De
ve
lop
me
nt
Su
pp
ort
an
d S
erv
ice
s
Reve
nues
4,5
38
.59
26
,25
7.7
13
0,7
96
.30
(4,6
81.9
3)(1
8,88
1.25
)(2
3,56
3.18
)Id
entif
iabl
e ot
her
inco
me
16
.44
—1
6.4
4
(51.
49)
(1.1
7)(5
2.66
)Id
entif
iabl
e op
erat
ing
expe
nses
3,8
60
.26
20
,09
1.4
82
3,9
51
.74
(4,0
32.8
6)(1
4,83
5.21
)(1
8,86
8.07
)
Segm
enta
l ope
ratin
g In
com
e6
94
.77
6,1
66
.23
6,8
61
.00
(700
.56)
(4,0
47.2
1)(4
,747
.77)
Una
lloca
ble
expe
nses
:In
tere
st a
nd fi
nanc
e ch
arge
s2
8.8
4
(22.
14)
Oth
er u
nallo
cabl
e ex
pens
es (N
et)
779.55
(685
.41)
Tota
l pro
fit b
efor
e ta
x6
,05
2.6
1
(4,0
40.2
2)Ta
xes
840.92
(607
.38)
Net
inco
me
afte
r tax
es5
,21
1.6
9
(3,4
32.8
4)
Prev
ious
yea
r’s fi
gure
s ar
e sh
own
in b
rack
ets.
Se
co
nd
ary
se
gm
en
t in
form
ati
on
Rs.
la
kh
s
Do
me
stic
Sa
les
Ov
ers
ea
s S
ale
s a
nd
To
tal
an
d S
erv
ice
sS
erv
ice
s
Reve
nues
9,6
84
.02
21
,11
2.2
83
0,7
96
.30
(8,7
12.0
7)(1
4,85
1.11
)(2
3,56
3.18
)Id
entif
iabl
e ot
her
inco
me
16
.44
—1
6.4
4
(52.
66)
—(5
2.66
)Id
entif
iabl
e op
erat
ing
expe
nses
8,0
79
.52
15
,87
2.2
22
3,9
51
.74
(7,3
70.2
6)(1
1,49
7.81
)(1
8,86
8.07
)
Segm
enta
l ope
ratin
g in
com
e1
,62
0.9
45
,24
0.0
66
,86
1.0
0
(1,3
94.4
7)(3
,353
.30)
(4,7
47.7
7)U
nallo
cabl
e ex
pens
es:
Inte
rest
and
fina
nce
char
ges
28
.84
(22.
14)
Oth
er u
nallo
cabl
e ex
pens
es(N
et)
77
9.5
5
(685
.41)
Tota
l pro
fit b
efor
e ta
x6
,05
2.6
1
(4,0
40.2
2)Ta
xes
84
0.9
2
(607
.38)
Net
inco
me
afte
r tax
es5
,21
1.6
9
(3,4
32.8
4)
Prev
ious
yea
r’s fi
gure
s ar
e sh
own
in b
rack
ets.
ELXS
I LIM
ITED
Eigh
teen
th A
nnua
l Rep
ort 2
006
- 07
46
27
.T
he
de
tail
s o
f p
rov
isio
ns
as
req
uir
ed
by
th
e p
rov
isio
ns
of
Acc
ou
nti
ng
Sta
nd
ard
29
“
Pro
vis
ion
s,
Co
nti
ng
en
t L
iab
ilit
ies
an
d
Co
nti
ng
en
t A
sse
ts”
are
as
un
de
r ;
Rs.
la
kh
s
Na
ture
of
pro
vis
ion
Cla
ims
ag
ain
st
the
Co
mp
an
y
Ope
ning
Bal
ance
5.00
Addi
tiona
l pro
visi
onin
g (In
clud
ing
incr
ease
s to
exi
stin
g pr
ovis
ioni
ng)
—A
mou
nts
used
dur
ing
the
year
—A
mou
nts
reve
rsed
dur
ing
the
year
—Cl
osin
g Ba
lanc
e5.
002
8.
Au
dit
ors
’ re
mu
ne
rati
on
Rs.
la
kh
s
20
06
-07
2005
-06
Audi
t fee
s7
.86
7.71
Tax
audi
t fee
s1
.12
1.92
Fee
for c
ertif
icat
ion
and
othe
rs3
.37
3.31
Reim
burs
emen
t of o
ut o
fPo
cket
Exp
ense
s—
0.37
12
.35
13.3
12
9.
Ma
na
ge
ria
l re
mu
ne
rati
on
The
acco
unt
incl
udes
man
ager
ial
rem
uner
atio
n to
a d
irec
tor
unde
r Se
ctio
n 19
8 of
the
Com
pani
es A
ct, 1
956
amou
ntin
g to
Rs. 9
1.96
lakh
s (R
s. 72
.69
lakh
s) in
clus
ive
of e
stim
ated
mon
etar
y va
lue
of p
erqu
isite
s an
d be
nefit
s Rs
. 29.
54 la
khs
(Rs.
25.7
9 la
khs)
and
com
mis
sion
of R
s. 45
.00
lakh
s (R
s. 32
.00
lakh
s) a
s w
ell a
s co
mm
issi
on t
o no
n-w
hole
time
Dire
ctor
s of
Rs.
45.0
0 La
khs
(Rs.
41.0
0 la
khs)
,co
mpu
ted
belo
w:
Rs.
la
kh
s2
00
6-0
720
05-0
6Pr
ofit
befo
re ta
x6
,05
2.6
14,
040.
22A
dd:
- Com
mis
sion
to n
on-e
xecu
tive
Dire
ctor
s4
5.0
041
.00
- Man
ager
ial r
emun
erat
ion
91
.96
72.6
9- D
irect
ors
sitt
ing
fees
4.2
53.
906
,19
3.8
24,
157.
81Le
ss:
- Pro
fit/(
Loss
) on
sale
of a
sset
s(1
.57
)—
Net
pro
fit a
s co
mpu
ted
unde
r Sec
tion
349
6,1
95
.39
4,15
7.81
Com
mis
sion
pay
able
to:
a)M
anag
ing
Dire
ctor
45
.00
32.0
0b)
Non
-who
letim
e D
irect
ors
@1%
of t
heN
et p
rofit
s i.e
. Rs.
61.9
5 la
khs
(Rs.
41.5
8 la
khs)
rest
ricte
d to
45
.00
41.0
03
0.
Figu
res
for t
he p
revi
ous
year
hav
e be
en re
grou
ped
and
rear
rang
ed w
here
ver n
eces
sary
to c
onfir
m to
the
curr
ent y
ear’s
cla
ssifi
catio
ns.
SC
HE
DU
LE
S T
O T
HE
FIN
AN
CIA
L S
TAT
EM
EN
TS
FO
R T
HE
YE
AR
EN
DE
D M
AR
CH
31
, 20
07
(C
on
td...
)
For a
nd o
n be
half
of th
e Bo
ard
Sy
am
al
Gu
pta
Chai
rman
H.
H.
Ma
lgh
am
Dire
ctor
Ma
dh
uk
ar
De
vM
anag
ing
Dire
ctor
V.
Kri
shn
am
urt
hy
Chie
f Fin
anci
al O
ffice
r&
Com
pany
Sec
reta
ry
Mum
bai,
Apr
il 20
, 200
7
47
I.R
eg
istr
ati
on
De
tail
s
Regi
stra
tion
No.
Stat
e Co
de
Bala
nce
Shee
t Dat
eD
ate
Mon
thYe
arII
.C
ap
ita
l ra
ise
d d
uri
ng
th
e y
ea
r (A
mo
un
t in
Rs.
La
kh
s)
Publ
ic Is
sue
Righ
ts Is
sue
Bonu
s Is
sue
Priv
ate
Plac
emen
t
III.
Po
siti
on
of
Mo
bil
isa
tio
n a
nd
De
plo
ym
en
t o
f F
un
ds
(Am
ou
nt
in R
s. L
ak
hs)
Tota
l Lia
bilit
ies
Tota
l Ass
ets
So
urc
e o
f F
un
ds
:
Paid
-up
Capi
tal
Rese
rves
& S
urpl
us
Secu
red
Loan
sU
nsec
ured
Loa
ns
Ap
pli
ca
tio
n o
f F
un
ds
:
Net
Fix
ed A
sset
sIn
vest
men
ts
Net
Cur
rent
Ass
ets
Mis
cella
neou
s Ex
pend
iture
Accu
mul
ated
Los
ses
IV.
Pe
rfo
rma
nc
e o
f th
e C
om
pa
ny
(A
mo
un
t in
Rs.
La
kh
s)
Turn
over
(Tot
al In
com
e)To
tal E
xpen
ditu
re
+–
P
rofit
/Los
s Be
fore
Tax
+–
Prof
it/(L
oss)
Aft
er T
ax
Earn
ings
per
Sha
re in
Rup
ees
(Rs.)
Div
iden
d Ra
te (%
)
V.
Ge
ne
ric
Na
me
s o
f T
hre
e P
rin
cip
al
Pro
du
cts
/Se
rvic
es
of
Co
mp
an
y (
as
pe
r M
on
eta
ry t
erm
s)
Ite
m C
od
e N
os.
(IT
C C
od
es)
Pro
du
ct
De
scri
pti
on
s
Ite
m C
od
e N
os.
(IT
C C
od
es)
Pro
du
ct
De
scri
pti
on
s
Ite
m C
od
e N
os.
(IT
C C
od
es)
Pro
du
ct
De
scri
pti
on
s
09
96
8
31
03
20
07
08
NI
L
NI
L
NI
L
NI
L
NI
L
NI
L
84
71
90
.0
0
AU
TO
MA
TI
CD
AT
AP
RO
CE
SS
IN
G
MA
CH
IN
ES
AN
DU
NI
TS
TH
ER
EO
F
NI
L
MA
IN
TE
NA
NC
EO
FA
UT
OM
AT
IC
DA
TA
PR
OC
ES
SI
NG
MA
CH
IN
ES
AN
DU
NI
TS
NI
L
DE
SI
GN
AN
DD
EV
EL
OP
ME
NT
OF
CO
MP
UT
ER
HA
RD
WA
RE
AN
DS
OF
TW
AR
E
BA
LA
NC
E S
HE
ET
AB
ST
RA
CT
AN
D C
OM
PA
NY
’S G
EN
ER
AL
BU
SIN
ES
S P
RO
FIL
E
NI
L
96
37
.1
09
63
7.
10
31
13
.8
26
52
3.
28
NI
LN
IL
72
64
.6
1
23
72
.4
9
24
78
6.
08
30
83
8.
69
+6
05
2.
61
+5
21
1.
69
16
.7
47
0
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