MIRA INFORM REPORT

Report Date :

03.05.2012

IDENTIFICATION DETAILS

Name :	HCL TECHNOLOGIES LIMITED

Registered Office :	806, Siddharth 96, Nehru Place, New Delhi – 110019

Country :	India

Financials (as on) :	30.06.2011

Date of Incorporation :	12.11.1991

Com. Reg. No.:	55-046369

Capital Investment / Paid-up Capital :	Rs.1377.400 Millions

CIN No.: [Company Identification No.]	L74140DL1991PLC046369

TAN No.: [Tax Deduction & Collection Account No.]	DELH01586E/ DELH02634C

PAN No.: [Permanent Account No.]	AAACH1645P

Legal Form :	Public Limited Liability Company. The company’s shares are listed on the Stock Exchanges

Line of Business :	Subject is primarily engaged in providing a range of software services, business process outsourcing and infrastructure services.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa (75)

RATING		STATUS	PROPOSED CREDIT LINE
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large

Maximum Credit Limit :	USD 230000000

Status :	Excellent

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is a well established and reputed company having excellent track. Financial position of the company appear to be sound. Fundamentals are strong and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	806, Siddharth 96, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-26444812
Fax No.:	91-11-26436336
E-Mail :	manishanand@hcl.com
Website :	www.hcltech.com www.hcl.com

DIRECTORS

As on 02.11.2011

Name :

Mr. Shiv Nadar

Designation :

Managing Director

Address :

44, Friends Colony (East), New Delhi – 110065, India

Date of Birth/Age :

18.07.1945

Date of Appointment :

11.01.1993

DIN No.:

00015850

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65993DL1980PLC180124	HCL CORPORATION LIMITED	Director	27/03/1980	27/03/1980	-	Amalgamated	NO
2	L74140DL1991PLC046369	HCL TECHNOLOGIES LIMITED	Managing director	13/09/2009	11/1/1993	-	Active	NO
3	U74899DL1993PLC056665	HCL COMNET SYSTEMS AND SERVICES LIMITED	Director	29/12/1993	29/12/1993	19/02/2010	Active	NO
4	U80100AP1997NPL036631	INDIAN SCHOOL OF BUSINESS	Director	8/9/2005	8/9/2005	-	Active	NO
5	U67190DL2008PTC183192	KIRANROSHNI INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	11/9/2008	11/9/2008	26/11/2008	Active	NO
6	U65993DL2008PTC183190	SHIVKIRAN INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	11/9/2008	11/9/2008	26/11/2008	Active	NO
7	U67190DL2008PTC183176	VAMA SUNDARI INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	28/09/2010	11/9/2008	-	Active	NO
8	U67190DL2008PTC183175	BLUEBERRY INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	28/09/2010	11/9/2008	-	Active	NO
9	U67190DL2008PTC183191	GUDDU INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	28/09/2010	11/9/2008	-	Active	NO
10	U65920DL2008PTC183201	SHIV NADAR INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	12/9/2008	12/9/2008	26/11/2008	Active	NO
11	U67190DL2008PTC183200	SLOCUM INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	12/9/2008	12/9/2008	26/11/2008	Active	NO
12	U67190DL2008PTC183197	SSN INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	12/9/2008	12/9/2008	26/11/2008	Active	NO
13	U67190DL2008PTC183196	JULIAN INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	28/09/2010	12/9/2008	-	Active	NO
14	U67190DL2008PTC183199	SKN INVESTMENTS (CHENNAI) PRIVATE LIMITED	Director	28/09/2010	12/9/2008	-	Active	NO
15	U67120DL2008PTC183853	SSN INVESTMENTS (PONDI) PRIVATE LIMITED	Director	30/09/2008	30/09/2008	26/11/2008	Active	NO
16	U65923DL2008PTC183852	VAMA SUNDARI INVESTMENTS (PONDI) PRIVATE LIMITED	Director	30/09/2008	30/09/2008	26/11/2008	Active	NO
17	U65190DL2008PTC183838	SHIV NADAR INVESTMENTS (PONDI) PRIVATE LIMITED	Director	30/09/2008	30/09/2008	26/11/2008	Active	NO
18	U74120DL2008PTC183849	HCL Corporation Private Limited	Director	17/09/2011	30/09/2008	-	Active	NO
19	U65190DL2008PTC183850	SLOCUM INVESTMENTS (PONDI) PRIVATE LIMITED	Director	29/09/2010	30/09/2008	-	Active	NO
20	U65923DL2008PTC184901	SSN INVESTMENTS (DELHI) PRIVATE LIMITED	Director	14/11/2008	14/11/2008	10/12/2008	Active	NO
21	U65923DL2008PTC184900	SHIVKIRAN INVESTMENTS (DELHI) PRIVATE LIMITED	Director	14/11/2008	14/11/2008	10/12/2008	Active	NO
22	U65923DL2008PTC184899	SLOCUM INVESTMENTS (DELHI) PRIVATE LIMITED	Director	17/09/2011	14/11/2008	-	Active	NO
23	U65923DL2008PTC185183	VAMA SUNDARI INVESTMENTS (DELHI) PRIVATE LIMITED	Director	24/11/2008	24/11/2008	10/12/2008	Active	NO
24	U65923DL2008PTC185182	GUDDU INVESTMENTS (DELHI) PRIVATE LIMITED	Director	24/11/2008	24/11/2008	10/12/2008	Active	NO
25	U65923DL2008PTC185181	SHIV NADAR INVESTMENTS (DELHI) PRIVATE LIMITED	Director	24/11/2008	24/11/2008	10/12/2008	Active	NO
26	U80302KA2005NPL036676	CENTER FOR STUDY OF SCIENCE TECHNOLOGY AND POLICY	Director	18/08/2009	18/08/2009	-	Active	NO
27	U80211DL2012NPL232487	VAMA SUNDARI EDUCATION	Director	6/3/2012	6/3/2012	-	Active	NO
28	U80901DL2012NPL232516	SLOCUM EDUCATION	Director	7/3/2012	7/3/2012	-	Active	NO

Name :

Mr. Vineet Nayar

Designation :

Whole-time Director

Address :

A – 178, Sector 40, Gautambudhnagar, Noida, 201301, Uttar Pradesh, India

Date of Birth/Age :

09.04.1962

Date of Appointment :

01.08.2008

DIN No.:

02007846

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65921DL1996PTC082075	NASA FINLEASE PRIVATE LIMITED	Director	1/11/1999	1/11/1999	28/07/2008	Active	NO
2	L74140DL1991PLC046369	HCL TECHNOLOGIES LIMITED	Whole-time director	1/11/2010	1/8/2008	-	Active	NO
3	U72900DL2008PTC185904	VINANU TECHNOLOGIES PRIVATE LIMITED.	Director	17/12/2008	17/12/2008	15/06/2009	Strike off	NO

Name :

Ms. Robin Ann Abrams

Designation :

Director

Address :

751, Linden Avenue, Los Altos Ca94022 – 94022, USA

Date of Birth/Age :

12.05.1951

Date of Appointment :

13.09.1999

DIN No.:

00030840

Name :

Mr. Subroto Bhattacharya

Designation :

Director

Address :

E -10, Sector 40, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

12.10.1940

Date of Appointment :

08.05.2003

DIN No.:

00009524

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L72200DL1986PLC023955	HCL INFOSYSTEMS LIMITED	Director	22/04/1994	22/04/1994	10/12/2010	Active	NO
2	U65993DL1980PLC180124	HCL CORPORATION LIMITED	Director	25/05/1994	25/05/1994	-	Amalgamated	NO
3	U74899DL1992PLC050896	HCL PERIPHERALS LIMITED	Director	27/03/1997	27/03/1997	-	Amalgamated	NO
4	L74899DL1981PLC015865	NIIT LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
5	U74899DL2000PLC103599	HCL INFINET LIMITED(AMAL)	Director	3/2/2000	3/2/2000	-	Amalgamated	NO
6	L74140DL1991PLC046369	HCL TECHNOLOGIES LIMITED	Director	8/5/2003	8/5/2003	-	Active	NO
7	L65993DL1992PLC048753	NIIT TECHNOLOGIES LIMITED	Director	12/6/2004	12/6/2004	-	Active	NO
8	U74899DL1975PLC007904	Tikona Infinet Limited	Director	25/09/2007	17/04/2007	10/12/2010	Active	NO
9	U74120DL2008PTC183849	HCL Corporation Private Limited	Director	17/09/2011	6/6/2011	-	Active	NO

Name :

Mr. Amal Ganguli

Designation :

Director

Address :

J – 6 / 7, Dlf Qutab, Enclave Phase II, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

17.10.1939

Date of Appointment :

08.05.2003

DIN No.:

00013808

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1993PTC051811	M L INFOMAP PRIVATE LIMITED	Director	20/01/1993	20/01/1993	-	Active	NO
2	U72200DL1991PLC046909	FLEXTRONICS SOFTWARE SYSTEMS LIMITED	Director	8/1/2001	8/1/2001	-	Amalgamated	NO
3	L74140DL1991PLC046369	HCL TECHNOLOGIES LIMITED	Director	8/5/2003	8/5/2003	-	Active	NO
4	L35921TN1949PLC002905	TUBE INVESTMENTS OF INDIA LIMITED	Director	2/6/2003	2/6/2003	29/07/2010	Active	NO
5	L51909DL1986PLC024222	SAMTEL COLOR LIMITED	Director	10/10/2003	10/10/2003	2/2/2007	Active	NO
6	L92111DL1988PLC033099	NEW DELHI TELEVISION LIMITED	Director	14/05/2004	14/05/2004	-	Active	NO
7	L17120MH1897PLC000163	CENTURY TEXTILE AND INDUSTRIES LIMITED	Director	31/07/2004	31/07/2004	-	Active	NO
8	U34103MP2005PLC017319	AVTEC LIMITED	Director	27/07/2005	27/07/2005	-	Active	NO
9	L74999DL1991PLC042749	ICRA LIMITED	Director	12/6/2006	30/03/2006	-	Active	NO
10	U64202DL1992PLC048053	HUGHES COMMUNICATIONS INDIA LIMITED	Director	30/09/2006	20/04/2006	-	Active	NO
11	L34103DL1981PLC011375	MARUTI SUZUKI INDIA LIMITED	Director	5/9/2006	5/9/2006	-	Active	NO
12	L64200MH1986PLC039266	TATA COMMUNICATIONS LIMITED	Director	13/09/2006	13/09/2006	-	Active	NO
13	U93090MH2006PTC165286	AIG TRUSTEE COMPANY (INDIA) PRIVATE LIMITED	Director	15/12/2006	15/12/2006	-	Active	NO
14	U65993DL2006PLC149728	ARICENT TECHNOLOGIES (HOLDINGS) LIMITED	Director	11/9/2009	6/8/2007	-	Active	NO
15	U24239AP2005PTC047518	LAURUS LABS PRIVATE LIMITED	Director	2/9/2011	30/08/2007	-	Active	NO
16	L15421UP1932PLC022174	TRIVENI ENGINEERING AND INDUSTRIES LIMITED	Director	29/12/2009	19/01/2009	10/5/2011	Active	NO
17	L64200MH1995PLC086354	TATA TELESERVICES (MAHARASHTRA) LIMITED	Director	13/08/2009	24/03/2009	-	Active	NO
18	U29110UP1995PLC041834	TRIVENI TURBINE LIMITED	Director	6/9/2011	10/5/2011	-	Active	NO

Name :

Mr. Srinivasan Ramanathan

Designation :

Director

Address :

47, Kasturi Ranga Road, Alwarpet, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

08.06.1946

Date of Appointment :

19.04.2011

DIN No.:

00575854

Other Directorship

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74300MH1970PTC014617	DRAFTFCB-ULKA ADVERTISING PRIVATE LIMITED	Director	7/8/1996	7/8/1996	6/7/2007	Active	NO
2	U74300HR1985PTC043225	INTERFACE COMMUNICATIONS PRIVATE LIMITED	Director	29/11/1996	29/11/1996	6/7/2007	Active	NO
3	L52599TN1961PLC028758	REDINGTON (INDIA) LIMITED	Managing director	1/7/2011	1/7/2006	-	Active	NO
4	U65999TN2005PLC069447	EASYACCESS FINANCIAL SERVICES LIMITED	Managing director	4/2/2011	25/01/2008	-	Active	NO
5	L74140DL1991PLC046369	HCL TECHNOLOGIES LIMITED	Director	2/11/2011	19/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manish Anand
Designation :	Secretary
Address :	B – 5 / 31, Paschim Vihar, New Delhi – 110063, India
Date of Birth/Age :	15.11.1968
Date of Appointment :	01.07.2006
PAN No. :	ACAPA7717J

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.12.2011

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Bodies Corporate	323,073,367	46.77
Any Others (Specify)	9,569	-
Directors/Promoters & their Relatives & Friends	394	-
Sub Total	323,082,936	46.77
(2) Foreign
Bodies Corporate	120,259,208	17.41
Sub Total	120,259,208	17.41
Total shareholding of Promoter and Promoter Group (A)	443,342,144	64.18
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	29,842,039	4.32
Financial Institutions / Banks	505,025	0.07
Insurance Companies	26,591,648	3.85
Foreign Institutional Investors	130,217,291	18.85
Any Others (Specify)	1,244	-
Foreign Bank	1,244	-
Sub Total	187,157,247	27.09
(2) Non-Institutions
Bodies Corporate	22,807,162	3.30
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	20,325,048	2.94
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	4,124,135	0.60
Any Others (Specify)	13,013,148	1.88
Trusts	187,627	0.03
Foreign Nationals	97,450	0.01
Non Resident Indians	2,704,748	0.39
Overseas Corporate Bodies	9,438	-
Clearing Members	1,032,767	0.08
Hindu Undivided Families	165,318	0.02
Foreign Corporate Bodies	8,815,800	1.28
Sub Total	60,269,493	8.72
Total Public shareholding (B)	247,426,740	35.82
Total (A)+(B)	688,418,285	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	-	-
Sub Total	-	-
Total (A)+(B)+(C)	688,418,285	100.00

BUSINESS DETAILS

Line of Business :

Subject is primarily engaged in providing a range of software services, business process outsourcing and infrastructure services

Products :

ITC CODE	Product Description
852490	Software

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Corporate Accounts Group Branch, 11th / 12th Floor, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi -110001, India
ICICI Bank Limited, 9 - A, Connaught Place, New Delhi, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 30.06.2011	As on 30.06.2010

Non-convertible debentures secured	10000.000	10000.000
Rupee term loans banks secured	113.800	0.000
Finance lease obligation long-term secured	184.900	305.100
Total	10298.700	10305.100
(A) This includes following three types of debentures: (a) Rs.1700.000 Millions 7.55% Secured redeemable non convertible debentures of Rs.100.000 Millions each; and (b) Rs.3300.000 Millions 8.20% Secured redeemable non convertible debentures of Rs.100.000 Millions each; and (c) Rs.5000.000 Millions. 8.80% Secured redeemable non convertible debentures of Rs.100.000 Millions each. (B) The Company allotted 10,000 secured redeemable non convertible debentures of face value of Rs.100.000 Millions each, aggregating to Rs.10000.000 Millions. The debentures are secured by specified movable assets, receivables from subsidiaries and land and building of the Company. Debenture are redeemable at par on following dates." Debenture - Series Maturity Date 7.55% Redeemable non convertible debentures August 25,2011 8.20% Redeemable non convertible debentures August 25,2012 8.80% Redeemable non convertible debentures September 10,2014 (C) Secured by hypothecation of gross block of vehicles of Rs.154.900 Millions (Previous year Rs. Nil). Amount payable within one year is Rs. 20.300 Millions (Previous year Rs. Nil). (D) Obligation under finance lease are secured by fixed assets taken on lease. Also refer note [401100] on Leases. (Rs. In Millions)
Unsecured Loan	As on 30.06.2011	As on 30.06.2010
Rupee term loans unsecured	2.900	3668.800
Total	2.900	3668.800


Banking Relations :	--

Financial Institute :	IDBI Trusteeship Services Limited, Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate,, Mumbai - 400001, Maharashtra, India

Auditors :
Name :	S. R. Batllboi and Company Chartered Accountants
Address :	Golf View Corporate tower B Sector 42, Sector Road, Gurgaon – 122002, Haryana, India
PAN.:	AALFS0506L

Joint ventures :	Nec Hcl System Technologies Limited Axon Puerto Rico Inc.

Subsidiaries :
Related parties where control exists	HCL Comnet Systems and Services Limited HCL Bermuda Limited HCL Technologies (Shanghai) Limited HCL Great Britain Limited HCL (Netherlands) BV HCL GmbH HCL Belgium NV HCL Sweden AB HCL Italy SLR HCL Australia Services Pty. Limited HCL (New Zealand) Limited HCL Hong Kong SAR Limited HCL Japan Limited HCL Comnet Limited HCL America Inc. HCL Holdings GmbH HCL Global Processing Services Limited (formerly Intelicent India Limited) DSI Financial Solutions Pte. Limited HCL BPO Services (NI) Limited HCL Jones Technologies LLC HCL Singapore Pte. Limited HCL (Malaysia) Sdn. Bhd. HCL EAI Services Limited HCL Poland sp. z o.o Capital Stream, Inc. HCL EAS Limited HCL Insurance BPO Services Limited HCL Expense Management Services Inc. Axon Group Limited. Axon Solutions (Canada) Inc. Bywater Limited Axon Solutions Schweiz Gmbh Axon Solutions Pty. Limited Axon Solutions Inc. Axon Acquisition Company, Inc. Axon Solutions Limited Axon Solutions Sdn. Bhd. Axon Solutions Singapore Pte. Limited Axon Solutions (Shanghai) Company Limited HCL Axon (Proprietary) Limited JSPC- I Solutions Sdn. Bhd. JSP Consulting Sdn. Bhd. HCL Technologies Canada Inc. HCL Argentina s.a. HCL Mexico S. de R.L. HCL Technologies Romania s.r.l. HCL Hungary Limited HCL Latin America Holding LLC HCL (Brazil) Technologia da informacao Ltda. HCL Technologies Denmark Apps HCL Technologies Norway AS HCL Technologies South Africa (Proprietary) Limited PT. HCL Technologies Indonesia Limited HCL Arabia LLC HCL Technologies France Anzospan Investments PTY Limited FILIAL ESPAÑOLA DE HCL TECHNOLOGIES, S.L(Spain)

Related parties with whom transactions have taken place during the year	HCL America Inc., United States of America HCL Great Britain Limited, United Kingdom HCL (Netherlands) BV, Netherlands HCL GmbH, Germany HCL Belgium NV, Belgium HCL Sweden AB, Sweden HCL Australia Services Pty. Limited, Australia HCL (New Zealand) Limited, New Zealand HCL Hong Kong SAR Limited, Hong Kong HCL Comnet Systems and Services Limited, India HCL Comnet Limited, India HCL Bermuda Limited, Bermuda HCL Technologies (Shanghai) Limited, Shanghai HCL BPO Services (NI) Limited, Northern Ireland HCL Singapore Pte. Limited, Singapore HCL (Malaysia) Sdn. Bhd., Malaysia HCL EAI Services Limited, India HCL Global Processing Services Limited(formerly Intelicent India Limited) HCL Poland Sp.z.o.o., Poland Capital Stream Inc., United States of America HCL Axon (Pty) Limited Axon Solutions Inc. , United States of America Axon Solutions Limited, U K Axon Solutions Singapore Pte Limited Axon Solutions Sdn. Bhd., Malaysia HCL Insurance BPO Services Limited, U K Axon Solutions (Canada) Inc., Canada HCL Technologies Canada Inc. Axon Group Limited. HCL France HCL EAS Limited, U K

Others (Significant influence)	HCL Corporation Limited HCL Infosystems Limited HCL Security Limited HCL Infinet Limited HCL Holding Pvt. Limited HCL Insys Pte Limited., Singapore

CAPITAL STRUCTURE

As on 02.11.2011

Authorised Capital : Rs.1500.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.1385.273 Millions

As on 30.06.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

750000000	Equity Shares	Rs.2/- each	Rs.1500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

688688524	Equity Shares	Rs.2/- each	Rs.1377.400 Millions

Note:

A. *1. Paid up share capital includes: Rs.42.450 Millions (Previous year Rs.42.450 Millions) equity shares of Rs.2 each allotted as fully paid up, pursuant to contracts for consideration other than cash and Rs,82.987 Millions (Previous year Rs.82.987 Millions) equity shares of Rs.2 each issued as bonus shares in the ratio of one share for every two held by capitalisation of general reserve and Rs.325.454 Millions (Previous year Rs.325.454 Millions) equity shares of Rs.2 each issued as bonus shares in the ratio of one share for every share held by capitalisation of securities premium account.

B. 688,688,524 equity shares of Rs.2 each, fully paid up

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.06.2011	30.06.2010	30.06.2009
SHAREHOLDERS FUNDS
1] Share Capital		1377.400	1357.600	1340.500
2] Share Application Money		10.000	20.100	4.700
3] Reserves & Surplus		57204.100	47980.900	33537.200
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		58591.500	49358.600	34882.400
LOAN FUNDS
1] Secured Loans		10298.700	10305.100	1238.100
2] Unsecured Loans		2.900	3668.800	3899.200
TOTAL BORROWING		10301.600	13973.900	5137.300
DEFERRED TAX LIABILITIES		0.000	0.000	0.000

TOTAL		68893.100	63332.500	40019.700

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		12959.300	9438.300	8569.800
Capital work-in-progress		5687.300	4772.000	4175.600

INVESTMENT		26532.700	22332.000	5627.500
DEFERREX TAX ASSETS		1330.600	1061.600	2260.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1249.700	120.400	870.100
	Sundry Debtors	16572.600	20847.000	14892.600
	Cash & Bank Balances	10637.200	9894.300	13658.300
	Other Current Assets	2973.500	4080.300	3232.400
	Loans & Advances	9705.100	12347.400	12672.800
Total Current Assets		41138.100	47289.400	45326.200
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8810.500	6456.000	8047.500
	Other Current Liabilities	3916.000	10768.800	14112.400
	Provisions	6028.400	4336.000	3779.500
Total Current Liabilities		18754.900	21560.800	25939.400
Net Current Assets		22383.200	25728.600	19386.800

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		68893.100	63332.500	40019.700

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.06.2011	30.06.2010	30.06.2009
	SALES
		Operating Revenue	67944.800	50787.600	46750.900
		Other Income	1662.700	1717.700	2658.100
		TOTAL (A)	69607.500	52505.300	49409.000

Less	EXPENSES
		Cost of Materials	1653.100	854.700	0.000
		Personal Expenses	32590.900	21876.600	19302.200
		Other Expenses	18537.100	14491.900	15390.000
		TOTAL (B)	52781.100	37223.200	34692.200

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		16826.400	15282.100	14716.800

Less	FINANCIAL EXPENSES (D)		1013.900	1013.600	280.900

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15812.500	14268.500	14435.900

Less/ Add	DEPRECIATION/ AMORTISATION (F)		2913.700	2740.300	2518.900

	PROFIT BEFORE TAX (E-F) (G)		12898.800	11528.200	11917.000

Less	TAX (H)		916.000	962.400	1943.900

	PROFIT AFTER TAX (G-H) (I)		11982.800	10565.800	9973.100

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		22609.500	19209.700	15727.300

Less	Acquired Under the Scheme of Amalgamation		98.100	0.000	0.000
Less	APPROPRIATIONS
		Transfer to General Reserve	1198.300	1056.600	997.300
		Proposed Final Dividend	1380.900	681.600	679.000
		Corporate Dividend Tax	224.000	113.200	115.400
		Interim Dividend	3764.000	2023.300	4017.100
		Corporate Dividend Tax on Interim Dividend	619.900	341.300	681.900
		Transfer to debenture redemption Reserve	2950.000	2950.000	0.000
	BALANCE CARRIED TO THE B/S		24357.100	22609.500	19209.700

	EARNINGS IN FOREIGN CURRENCY
		Other Earnings	NA	49682.400	45725.300
	TOTAL EARNINGS		NA	49682.400	45725.300

	IMPORTS
		Capital Goods	196.06	1149.100	1080.300
	TOTAL IMPORTS		196.06	1149.100	1080.300

	Earnings Per Share (Rs.)
	Basic		17.53	15.68	14.91
	Diluted		17.18	15.33	14.73

QUARTERLY RESULTS

PARTICULARS	30.09.2011	31.12.2011
	1^st Quarter	2^nd Quarter
Net Sales	19792.200	21911.800
Total Expenditure	15036.800	15554.200
PBIDT (Excl OI)	4755.400	6357.600
Other Income	1050.600	731.800
Operating Profit	5806.000	7089.400
Interest	222.900	221.400
Exceptional Items	0.000	0.000
PBDT	5583.100	6868.000
Depreciation	820.800	862.600
Profit Before Tax	4762.300	6005.400
Tax	786.800	1065.700
Provisions and contingencies	0.000	0.000
Profit After Tax	3975.500	4939.700
Extraordinary Items	0.000	0.000
Prior Period Expenses	0.000	0.000
Other Adjustments	0.000	0.000
Net Profit	3975.500	4939.700

KEY RATIOS

PARTICULARS		30.06.2011	30.06.2010	30.06.2009
PAT / Total Income	(%)	17.21	20.12	20.18

Net Profit Margin (PBT/Sales)	(%)	18.98	22.70	25.54

Return on Total Assets (PBT/Total Assets}	(%)	23.84	19.95	18.10

Return on Investment (ROI) (PBT/Networth)		0.22	0.23	0.34

Debt Equity Ratio (Total Liability/Networth)		0.50	0.72	0.74

Current Ratio (Current Asset/Current Liability)		2.19	2.19	1.75

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	No

OVERVIEW

During the financial year 2010-11, on a standalone basis, the Company’s revenues stood at Rs.67944.800 Millions registering a growth of 33.78% over the previous year and on a consolidated basis, the Company’s revenues for the year 2010-11 stood at Rs.157304.300 Millions registering a growth of 29.61% over the previous year.

DISCLOSURE OF AMALGAMATIONS

A scheme of Amalgamation ("Scheme") under sections 391 to 394 of the Companies Act, 1956 for amalgamation without issue of shares of HCL Technopark Limited, a wholly owned subsidiary ("Transferor Company"), held directly, with the Company has been approved by the Hon'ble High Court of Delhi on August 16, 2010 and is effective from April 1, 2009. The Transferor Company was engaged in the business of a developer of facilities for the IT industry. The amalgamation is expected to channelize synergies and lead to optimum utilisation of available resources and result in greater economies of scale.

The Company has accounted for the amalgamation under the ‘pooling of interest method’ being an amalgamation in the nature of merger, as prescribed by the Accounting standard “AS- 14”, “Accounting for Amalgamations” as per Accounting Standards notified by Companies (Accounting Standards) Rules, 2006, (as amended).

In terms of the Scheme, the shortfall represents the aggregate value of the assets reduced by the aggregate value of the liabilities and balance in profit and loss account and reserves of the Transferor Company over the value of inter se loans and investments and share capital cancelled pursuant to the amalgamation. This shortfall of Rs.98.100 Millions has been adjusted from the profit and loss account. Details are given below:

Rs. In Millions

Particular	Amount
Assets
Fixed assets (net) (Including capital work in progress Rs.945.900 Millions)	1113.500
Cash and bank balances	2.200
Other assets	2.100
Total	1117.800

Liabilities
Current liabilities	204.200
Total	204.200

Net assets acquired on amalgamation	913.600
Transfer of balances of amalgamated company
Less:-
Adjustment for cancellation of Company's investment in Transferor Company	10.000
Adjustment of loan given to Transferor company	1001.700
Shortfall arising on amalgamation	98.100
Balance transferred to profit & loss account as at July 1, 2010	98.100

CONTINGENT LIABILITIES

Rs. In Millions

Particular	30.06.2011	30.06.2010
a) Disputed Income Tax (excluding Interest)	0.000	99.900
b) Others	23.000	16.300
Total	23.000	116.200

a) Guarantees have been given by the Company on behalf of various subsidiaries against credit facilities, financial assistance and office premises taken on lease amounting to Rs.22838.600 Millions (previous year Rs.22194.400 Millions). These guarantees have been given in the normal course of the Company’s operations and are not expected to result in any loss to the Company on the basis of the beneficiaries fulfilling their ordinary commercial obligations

b) Bank guarantees of Rs.243.900 Millions (previous year Rs.63.900 Millions). These guarantees have been given in the normal course of the Company’s operations and are not expected to result in any loss to the Company, on the basis of the Company fulfilling its ordinary commercial obligations

The amounts shown in the items above represent best possible estimates arrived at on the basis of available information. The uncertainties and possible reimbursements are dependent on the outcome of the different legal processes which have been invoked by the Company or the claimants as the case may be and therefore cannot be predicted accurately. The Company engages reputed professional advisors to protect its interest and has been advised that it has strong legal positions against such disputes.

COMPANY OVERVIEW

Subject is primarily engaged in providing a range of software services, business process outsourcing and infrastructure services. The Company was incorporated in India in November 1991. The Company leverages an extensive offshore infrastructure and its global network of offices in various countries and professionals to deliver solutions across select verticals including Retail, Aerospace and defense, Automotive, Telecom, Financial Services, Government, Hi-tech, Media and Entertainment, Travel, Transportation and Logistics, Energy and utilities, Life Sciences and Healthcare.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	L74140DL1991PLC046369
Name of the company	HCL TECHNOLOGIES LIMITED
Address of the registered office or of the principal place of business in India of the company	806, Siddharth, 96, Nehru Place, New Delhi- 110019,DelhI,India manishanand@hcl.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10219836
Type of charge	Book debts
Particular of charge holder	State Bank of India, Corporate Accounts Group Branch, 11th / 12th Floor, Jawahar Vyapar Bhawan 1, Tolstoy Marg, New Delhi -110001, India manaw.prasad@sbi.co.in
Nature of instrument creating charge	Letter dated June 30, 2011 for renewal of working capital limits
Date of instrument Creating the charge	30.06.2011
Amount secured by the charge	Rs.2500.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 11.75% per annum with monthly rests Terms of Repayment payable on demand Margin book debts/ receivables- 25% Extent and Operation of the charge Hypothecation of book debts other than those specified in 13(e) below, equivalent of 125% of the outstanding working capital facility of Rs. 2500.000 Millions. Others There exists a first charge in favour of Debenture Trustees on specified receivables from group companies of HCL Technologies Limited up to a cover of Rs.5250.000 Millions in respect of Rated, Taxable, Secured, Redeemable Non- convertible Debentures amounting to Rs. 10000.000 Millions as per deed Hypothecation dated November 20, 2009.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of book debts
Particulars of the present modification	The Company is not agreeable with the Bank to avail the Fund Based working capital limit of Rs.2500.000 Millions. Accordingly the total limit has been reduced to Rs. 2500.000 Millions from present Rs.5000.000 Millions.

Fixed Assets

Buildings
Plant and Machinery
Computer
Furniture and Fixtures
Vehicles

Website Details

Press Releases

BD Inaugurates New R&D Facility in India; HCL Technologies is the Key Solutions Provider

Published Date:

May 02, 2012

Noida, Chennai, Gurgaon, India – May 2nd, 2012 – BD (Becton, Dickinson and Company), a leading global medical technology company announced that it has signed an engineering and R&D services (ERS) engagement with Subject, a leading global IT services provider. BD also officially inaugurated its first R&D facility in Chennai, Tamil Nadu today. This facility is a significant milestone for BD in its efforts to expand its R&D into Asia, and demonstrates its strong relationship with HCL, which began in 2007.

The new facility is part of BD’s efforts to accelerate R&D innovation to develop new products and markets, achieve time-to-market advantage for its products and enhance operational efficiencies. This facility will be directly managed by BD - Singapore.

According to the engagement, BD will focus on creating innovative solutions by leveraging HCL’s capabilities and service expertise such as sustenance engineering and product – testing services delivered out of this facility. HCL will also conduct product life cycle and design verification studies to support new product development initiatives and product launches for BD in the emerging markets, such as India.

“Emerging markets play a key role in addressing the innovation challenges in the healthcare industry, and they continue investing in R&D for market-appropriate solutions,” said Scott P. Bruder M.D. Ph.D., Senior Vice President and Chief Science and Technology Officer, BD. “They value there relationship with HCL, which will help us create new capabilities in the Asia Pacific region and will offer significant support to develop effective and affordable solutions and medical innovations.”

“HCL understands that the critical path for research is not only in developing products but also in harnessing medical innovations in an efficient and effective way”, said G.H. Rao, Senior Corporate Vice President, Engineering and R&D Services, HCL Technologies. “They are proud of there engagement with BD and will continue to power new ideas and help foster innovations. This engagement is yet another testimonial of HCL’s leadership in Engineering and R&D services globally.”

About HCL Technologies

HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First, Customer Second’ which empowers there 82,464 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, has reported consolidated revenues of US$ 4.0 billion (Rs.1941.200 Millions), as on 31 March 2012 (on LTMbasis). For more information,

About HCL

HCL is a $6.2 bn leading global technology and IT enterprise comprising two companies listed in India – HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing and a transformational enterprise, HCL’s diverse range of hardware and software offerings span a wide array of focused industry verticals. The HCL team consists of 90,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. For more on HCL,

HCL Forward-looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, there ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect there cost advantage, wage increases in India, customer acceptances of there services, products and fee structures, there ability to attract and retain highly skilled professionals, there ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, there ability to manage there international operations, reduced demand for technology in there key focus areas, disruptions in telecommunication networks, there ability to successfully complete and integrate potential acquisitions, the success of there brand development efforts, liability for damages on there service contracts, the success of the companies /entities in which they have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of there intellectual property, other risks, uncertainties and general economic conditions affecting there industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

About BD

BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.93
UK Pound	1	Rs.85.85
Euro	1	Rs.69.94

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	8
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		75

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

1249.700

120.400

870.100

16572.600

20847.000

14892.600

10637.200

9894.300

13658.300

2973.500

4080.300

3232.400

9705.100

12347.400

12672.800

41138.100

8810.500

6456.000

3916.000

10768.800

14112.400

6028.400

4336.000

3779.500

18754.900

22383.200

25728.600

19386.800

17.21

20.12

20.18

18.98

22.70

25.54

23.84

19.95

18.10

0.22

0.23

0.34

0.50

0.72

0.74

2.19

2.19

1.75

Unit