MIRA INFORM REPORT

Report Date :

21.02.2013

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 :	A 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	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

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
Corporate Office/ Branch :	A37 Sector 16, Noida – 201301, India
Mobile No.:	91-8147167815 (Mr. Rajan)

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
Name :	Mr. Rajan
Designation :	General Manager
Name :	Mr. Sachin Kumar Sharma
Designation :	Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Bodies Corporate	321,973,367	46.51
Any Others (Specify)	779	--
Directors/Promoters & their Relatives & Friends	394	--
Trusts	385	--
Sub Total	321,974,146	46.51
(2) Foreign
Bodies Corporate	119,548,908	17.27
Sub Total	119,548,908	17.27
Total shareholding of Promoter and Promoter Group (A)	441,523,054	63.77
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	31,214,220	4.51
Financial Institutions / Banks	94,535	0.01
Insurance Companies	26,841,259	3.88
Foreign Institutional Investors	134,430,237	19.42
Any Others (Specify)	1,244	--
Foreign Bank	1,244	--
Sub Total	192,581,495	27.82
(2) Non-Institutions
Bodies Corporate	21,630,030	3.12
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	18,608,139	2.69
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	5,134,998	0.74
Any Others (Specify)	12,860,816	1.86
Trusts	216,599	0.03
Foreign Nationals	87,662	0.01
Non Resident Indians	2,672,186	0.39
Overseas Corporate Bodies	9,438	--
Clearing Members	897,271	0.13
Hindu Undivided Families	161,860	0.02
Foreign Corporate Bodies	8,815,800	1.27
Sub Total	58,233,983	8.41
Total Public shareholding (B)	250,815,478	36.23
Total (A)+(B)	692,338,532	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)	692,338,532	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 :

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	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	52781.100	37223.200	34692.200
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		16826.400	15282.100	14716.800
Less	FINANCIAL EXPENSES		1013.900	1013.600	280.900
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		15812.500	14268.500	14435.900
Less/ Add	DEPRECIATION/ AMORTISATION		2913.700	2740.300	2518.900
	PROFIT BEFORE TAX		12898.800	11528.200	11917.000
Less	TAX		916.000	962.400	1943.900
	PROFIT AFTER TAX		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 / SUMMARISED RESULTS

PARTICULARS	30.09.2010	31.12.2010	31.03.2012
Type	1^st Quarter	2^nd Quarter	3^rd Quarter
Sales Turnover	19792.200	21911.800	21647.200
Total Expenditure	15036.800	15554.200	15849.300
PBIDT (Excl OI)	4755.400	6357.600	5797.900
Other Income	1050.600	731.800	315.500
Operating Profit	5806.000	7089.400	6113.400
Interest	222.900	221.400	289.200
Exceptional Items	0.000	0.000	0.000
PBDT	5583.100	6868.000	5824.200
Depreciation	820.800	862.600	898.400
Profit Before Tax	4762.300	6005.400	4925.800
Tax	786.800	1065.700	924.300
Reported PAT	0.000	0.000	0.000
Extraordinary Items	3975.500	4939.700	4001.500
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	0.000	0.000	0.000
	3975.500	4939.700	4001.500

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. Constitution 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	No
21. Market information	--
22. Litigations that the firm / promoter involved	--
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 Email ID: 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

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.

FINANCIAL HIGHLIGHTS

Highlights for the Quarter (US$)

• Revenue at US$ 1,048 mn; up 14.6% YoY and 2.5% sequentially on US$ basis
• EBIT at US$ 164 mn; up 24.6% YoY
• Net Income at US$ 121 mn; up 17.1% YoY
• GAAP EPS (Diluted) at US$ 0.67; up 18.6% YoY
• Announces dividend of ` 2 per share; 37th consecutive quarter of dividend payout
• Total headcount at 82,464

Highlights for the Quarter (INR convenience translation at an Average Rate of Rs. 49.77/US$)

• Revenue at Rs. 5,2160.000 Millions; up 26.0% YoY
• EBIT at Rs. 8180.000 Millions; up 37.1% YoY
• Net Income at Rs. 6030.000 Millions; up 28.7% YoY
• GAAP EPS (Diluted) at Rs. 332.000 Millions; up 30.5% YoY
• Announces dividend of Rs. 2 per share; 37th consecutive quarter of dividend payout
• Total headcount at 82,464

CORPORATE OVERVIEW

Subject continues its growth momentum despite changing global IT industry dynamics.

“A key strategic shift in the global IT Industry has been the leveling of the playing field between the Indian Origin Service Providers and the Global MNCs. It is encouraging to note that Subject has continued its growth trajectory even in this environment thanks to their globally competitive business model which is emerging as an attractive alternative to enterprises worldwide”, said Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies.

Commenting on the results, Vineet Nayar, Vice Chairman and CEO, Subject said, “HCL’s unique Employee First culture combined with a balanced Run-the-business and Change-the-business portfolio has enabled them to become strategic partners to some of the biggest brands in the world. They continue to focus and gain market share in this segment as demonstrated by the fact that all their Top 10 clients are now Fortune/Global 500 companies. Additionally 88% of over $2.5 billion transformational wins in last two quarters have been signed with Fortune500/Global2000 organizations.”

HCL has continued to demonstrate superior financial performance backed by a balanced business portfolio. The revenues this quarter are up 2.5% while EBIT is up by 8.6% over the last quarter. For 12- month period ended 31st March, 2012, their revenues at US$ 4,035 million grew by 22%, their EBIT at US$ 618 million grew by 34% and GAAP EPS (diluted) at US$ 0.62 grew by 38% over the corresponding period last year” added Anil Chanana, CFO, HCL Technologies.

BUSINESS HIGHLIGHTS

Corporate

• Subject has designed a tablet for one of its US based Hi-Tech clients which was unveiled at the 2012 Consumer Electronics Show (CES) held in US in January 2012. The entire Hardware, Software and Mechanical design for this Tablet was completed by Subject in a short span of nine weeks from start to demo.

• Subject and Cisco Systems Inc. announced joint creation of vertical solutions. First of these solutions is targeted at the financial services industry to improve the end-customer experience.

• Subject and Avaloq, a leading banking software provider, formed a global strategic partnership, covering the Avaloq Banking System range of Wealth Management products. The alliance with Avaloq has been formed to augment HCL’s 12+ years of experience in the wealth management IT services.

• Subject has been selected as a member of Altera’s Design Service Network Program. As part of the alliance, HCL will leverage Altera’s tools, IP, training and support to help its customers accelerate FPGA design productivity and innovation.

• Subject Aerospace Group has successfully transitioned from Rev B to Rev C of AS9100, an Aerospace Standard developed by International Aerospace Quality Group. The scope of certification includes design, development, verification, validation and engineering of software, hardware and CAD /CAE services for aerospace applications.

Europe

• UPM and Subject have signed a five year outsourcing agreement for IT infrastructure services. As part of this agreement, Subject will provide data center, end user support, network services and professional IT services to UPM. Subject will also set up a data center in Finland. Subject is strengthing its existing Espoo Delivery Center to provide the services.

• Subject has won a deal from world’s leading snack manufacturer, a Fortune 500 company, to provide End User Support Services in 16 countries in Europe.

• Subject has won an engagement from one of the largest telecom service providers in the Nordics region for its organization-wide Integration (Middleware) activities. Through this deal, Subject will help the customer with a range of Integration activities including creation of functional and technical design specifications for standard F&A interfaces, as well as, implementation of new standard F&A interfaces. Subject will also provide a solution for end-to-end monitoring of all interfaces as part of the integration activities.

• Subject has entered into an SAP engagement with a mobile consortium in the UK who are creating a unified and open platform to allow mobile software developers to more easily write applications usable on a variety of devices, operating systems and networks. The engagement includes SAP FICO, Basis, ABAP and SAP EP implementation followed by support .

• Subject participated in the world’s largest mobility event ‘The Mobile World Congress’ held at Barcelona in February 2012 and showcased its cutting edge products and solutions in the space including IPs like Aegis and Argos amongst others.

Americas

• Subject has been chosen by a specialty polymers manufacturer for applications and infrastructure services including application development, maintenance and support. The services will be delivered by Subject from global locations across USA, Latin America, Europe, China and India.

• Subject has been selected by a leading specialty chemicals manufacturer for managed application services. The customer’s global application portfolio across USA, India, Europe and Asia will be developed and managed by Subject as part of this engagement.

Subject has signed an engagement with Verizon Communications to provide Testing and Certification services for FiOS TV Interactive Services platform. The engagement will accelerate adoption of the Verizon’s iTV platform, improve time-to-market, and enhance the experience for third party developers.

• Subject has been chosen to provide testing services for a leading home improvement retailer.

• Subject has signed a deal to provide SAP transformation and Infrastructure support services to a US based leading fashion retailer.

• Subject signed an Oracle OBIA\OBIEE and Hyperion Planning implementation deal with The Topps Company, the creator and marketer of sports cards, entertainment products, and distinctive confectionery. This implementation will see Topps transforming their corporate enterprise environment and sales forecasting systems by implementing Oracle E-Business Suite R12, Demantra, Agile, OBIA\OBIEE 11g and Hyperion Planning V11.

• BlueCross BlueShield of Montana has purchased ICRM and testing services for ICD-10 project from Subject

• Subject has won a deal with world’s largest chain of fast food restaurants to build and support a Digital Engagement Platform. This platform will span across 16 countries and take care of end-to-end marketing for the client. As a part of this engagement Subject will also be redesigning websites for client’s customers in 16 countries.

• Subject hosted an Executive session in New York for CIOs and VPs of IT from leading industry verticals. At this session, HCL showcased its Independent Verification and Validation Services (IVVS) solutions including the ‘Test Factory in a Box’ solution that helps accelerate Enterprise Applications Testing.

• Subject showcased its ‘Advise to Execute’ Next-Gen BI offerings including Mobile BI & Social Intelligence for driving competitive advantage at the ‘Microstrategy World 2012’ in Miami held in January 2012. Subject also delivered a joint speaker session with a leading Pharma company on Global Supply Chain visibility at the event.

Rest of the World (ROW)

• Subject has strategically aligned with Cisco to open a South Africa Glocal Centre of Excellence (GCoE) in Johannesburg as part of its commitment to build a socially responsible business. The Johannesburg GCoE will serve as a local support center for HCL and Cisco’s South African clients. It will also train local engineers on advanced Cisco technologies to support clients across Africa and specifically South Africa.

• Subject entered into an engagement with a leading state government road authority to develop a smarter, integrated and inter-connected traffic management system. This innovative Enterprise Standard Traffic Information System is the first of its kind in the APAC region.

• Subject has won a Core Banking Transformation deal from a large state owned bank in Malaysia

• Subject has won a deal with a leading consumer-electronics company in Japan to develop and test Android applications for their digital camera models as well as to develop functions for their Digital Imaging Products.

FOLLOWING ARE THE FINANCIAL RESULTS OF HCL TECHNOLOGIES LIMITED AS A STANDALONE ENTITY AS PER INDIAN GAAP:

(Rs. in Millions)

Particular	For the Quarter Ended		Nine Months Ended
	31.12.2011 (Unaudited)	31.03.2012 (Unaudited)	31.03.2012 (Unaudited)
Revenue from Operations	21911.800	21647.200	63351.200
Total Income from operations (net)	21911.800	21647.200	63351.200
Expenses
Cost of Goods sold	345.600	180.700	1248.900
Employee benefits expenses	9915.900	9890.600	29118.700
Outsourcing cost	1579.700	1857.200	4714.500
Travel and conveyance	1150.900	1278.300	3690.400
Operating and other expenses	2562.100	2582.500	7607.800
Exchange (gain)/ loss	(478.300)	60.000	(973.400)
Depreciation	862.600	898.400	2581.800
Total Expenses	15938.500	16747.700	47988.700
Profit from Operations before Other Income, Finance costs and Exceptional item	5973.300	4899.500	15362.500
Other Income	253.500	315.500	1064.500
Profit/ Loss from Ordinary Activities before Finance costs and Exceptional item	6226.800	5215.000	16427.000
Finance costs	221.400	289.200	733.500
Profit/ Loss from Ordinary Activities after Finance costs but Exceptional item	6005.400	4925.800	15693.500
Exceptional item	--	--	--
Profit/ Loss from Ordinary Activities before tax	6005.400	4925.800	15693.500
Provision for tax for current period	1065.700	924.300	2776.800
Reversal of tax provision for previous periods	--	--	--
Net Profit/ Loss from Ordinary Activities after tax	4939.700	4001.500	12916.700
Extraordinary Items	--	--	--
Net Profit for the period	4939.700	4001.500	12916.700
Paid- up Equity Share Capital (Par value of the share – Rs. 2)	1381.500	1384.700	1384.700
Reserve and Surplus	58548.700	63420.600	63420.600
Weighted average no. of shares outstanding (Par value of the share – Rs. 2)
Basic	690319989	691846533	690440263
Diluted	702362653	704306841	702356561
Earnings per equity share before extraordinary items for the period (Rs.)
Basic	7.16	5.78	18.71
Diluted	7.03	5.68	18.39
Earnings per equity share after extraordinary items for the period (Rs.)
Basic	7.16	5.78	18.71
Diluted	7.03	5.68	18.39
Dividend per share (Par value of the share – Rs. 2)
Interim dividend	2.00	2.00	8.00
Final dividend	--	--	--
Total dividend	2.00	2.00	8.00
PARTICULARS OF SHAREHOLDING
1. Public shareholding
Number of Shares	247426740	250815478	250815478
Percentage of Shareholding	35.82%	36.23%	36.23%
2. Promoters and promoter group shareholding
a) Pledged/Encumbered
- Number of Shares	--	--	--
- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)	--	--	--
- Percentage of Shares (as a % of the Total Share Capital of the Company)	--	--	--
Non - encumbered
- Number of Shares	443342144	441523054	441523054
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)	100%	100%	100%
- Percentage of Shares (as a % of the total share capital of the company)	64.18%	63.77%	63.77%

Notes:

1. The financial results for the quarter ended March 31, 2012 were approved by the Audit Committee and been approved and taken on by the Board of Directors at its meeting held on April 18, 2012.

2. During the quarter ended March 31, 2012, the Board of Directors has declared an interim dividend of Rs. 2 per share (100% on par value of Rs. 2 per share), amounting to Rs. 1384.700 Millions,

3. INVESTOR COMPLAINTS:

	Particulars	Quarter Ended 31^st March 2012
B	Investor complaints
	Pending at the beginning of the quarter	Nil
	Received during the quarter	7
	Disposed of during the quarter	7
	Remaining unresolved at the end of the quarter	Nil

4. SEGMENT INFORMATION:

(Rs. in Millions)

Particular	For the Quarter Ended		Nine Months Ended
	31.12.2011 (Unaudited)	31.03.2012 (Unaudited)	31.03.2012 (Unaudited)
Segment Reserve
Software Services	16241.400	17190.100	48967.600
Business Process Outsourcing	1521.200	1359.300	4151.600
Infrastructure Services	3884.600	3362.400	10232.000
Total	21647.200	21911.800	63351.200
Less: Inter-segment revenue	--	--	--
Net revenue from operations	21647.200	21911.800	63351.200
Segment Results
Software Services	3889.800	4855.400	12564.900
Business Process Outsourcing	436.200	227.500	915.100
Infrastructure Services	1175.500	881.500	2453.800
Total	5501.500	5964.400	15933.800
Less:
Interest	289.100	221.400	733.400
Other un-allocable expenditure/ (income), net	286.600	(262.400)	(493.100)
Net profit before tax	4925.800	6005.400	15693.500
Segment Capital Employed
Software Services	23401.500	21524.500	23401.500
Business Process Outsourcing	2269.100	2113.000	2269.100
Infrastructure Services	5891.000	7087.100	5891.000
Segment Total Capital Employed	31561.600	30724.600	31561.600
Other un-allocated assets	33296.600	29232.200	33296.600
Total	64858.200	59956.800	64858.200

5. The figures of previous periods have been re-grouped and re-classified, wherever necessary, to confirm to current periods classification.

THE BOARD HAS ALSO TAKEN ON RECORD THE UNAUDITED CONSOLIDATED RESULTS OF HCL TECHNOLOGIES LIMITED AND ITS SUBSIDIARIES FOR THE QUARTER ENDED MARCH 31, 2012 PREPARED AS PER US GAAP. A SUMMARY OF THE FINANCIAL STATEMENTS IS AS FOLLOWS:

(Rs. in Millions)

Particulars	Quarter ended March 31	Nine Months ended March 31
	2012	2012
Revenue	1047.900	3071.900
Cost of Revenues	706.800	2078.100
Gross Profits	341.100	993.800
Operating Expenses	148.400	440.800
EBITDA	192.700	553.00
Depreciation and Amortisation	28.400	83.800
Other income, net	(2.700)	(14.500)
Provision for income taxes	40.500	115.000
Share of (income)/ loss of Minority shareholders	(0.000)	(0.100)
Net Income	121.100	339.700
Earnings Per Equity share (in US $)
Basic	0.17	0.49
Diluted	0.17	0.49

Notes:

Above results exclude Non-cash Employee Stock Option charge of USD 4.600 Millions (net of tax USD 4.2 Million), (previous period USD 5.7 Million (net of tax USD 5.0 Million) for the quarter ended March’12 and USD 12.7 Million (net of tax USD 11.8 Million), (previous period USD 16.9 Million (net of tax USD 15.5 Million) for the nine months ended March’12, computed under the fair value method as required by FASB ASC 718.

AS PER WEBSITE DETAILS

PRESS RELEASES 

HCL Technologies and Consumers Energy Agreement Brings New Technology Center to Michigan

Published Date:  Fri May 11, 2012 3:00pm EDT

300 New Local Jobs to Be Created with Help from State of Michigan

SUNNYVALE, Calif. and JACKSON, Mich., May 11, 2012

HCL America, Inc., a wholly owned step-down subsidiary of HCL Technologies Ltd. (HCL), a leading global Information Technology (IT) services provider, and Consumers Energy, the 4th-largest U.S. electric and natural gas company, today announced that the two companies will collaborate on a new "Glocal" Center of Excellence (GCoE) called the Michigan Technology Development Center (MTDC).  The Center will be located at the Commonwealth Commerce Center in downtown Jackson, Michigan.

As part of the agreement, HCL expects to hire local technology professionals and create 300 professional technology positions during phase one of the MTDC opening. The MTDC also will be a designated training and development hub for advanced and emerging IT processes, tools and will work with local universities and colleges. The center will also establish a learning academy to train Consumers Energy employees on advanced and emerging technologies, and will be further expanded to accommodate 500 technology professionals in the next few years.

The two companies entered into an agreement with the objective of improving operational excellence through advanced technological operations and processes and provide significant benefits to the mid-Michigan and Jackson economies. The agreement will significantly increase Michigan's IT capacity, while improving employment prospects for IT graduates from Michigan universities and colleges.  It will also serve as a leading example of Michigan's new, successful economic policies.

This agreement is the result of the Consumers Energy leadership's vision to embark on a game-changing plan to move its IT department from a technology support role to technology innovators – and will utilize HCL's expertise through its matured processes and highly qualified employees.  It will enable Consumers Energy's IT department to leverage HCL's software solutions expertise to manage its existing operations, thereby allowing Consumers Energy's many talented and knowledgeable employees to focus on innovative assignments supporting business excellence for the utility.  HCL is a recognized leader in the energy and utilities sector with a proven track record of delivering IT enabled industry targeted solutions.

"Our company is making this important investment to provide our employees with new IT skills to work on high value projects and technologies that will prepare our company for the future," said Mamatha Chamarthi, Vice President and Chief Information Officer of Consumers Energy. "Through this center, HCL will provide IT operations for our company, enabling our employees to move to innovative projects."

"HCL's expansion demonstrates that our economic gardening strategy is helping dynamic companies to grow their presence in Michigan," said Governor Rick Snyder. "This investment by HCL and continued commitment of Consumers Energy sends a message that will be heard around the world that Michigan's highly competitive business climate and tremendous workforce capabilities mean real opportunities for leading edge businesses."

"As a socially responsible organization, HCL will invest in developing the next-generation workforce in Michigan by creating high-quality jobs in the industry and the region," said Rajeev Sawhney, Corporate Vice President, HCL Technologies. "We look forward to working with Consumers Energy on these strategic initiatives within its organization and the region."

The Michigan Economic Development Corporation, the City of Jackson, the Jackson Enterprise Group and the Commonwealth Commerce Center all provided substantial assistance in supporting HCL's decision to locate in Jackson, a prime central Michigan location in close proximity to many Michigan universities and colleges.

HCL's Expanding U.S. Investments

HCL has continuously been at the forefront of organizational sustainability, diversity and social inclusiveness. Through this agreement and partnerships with other anchor customers in New York, North Carolina, Texas and the state of Washington, HCL is pooling resources to increase job creation in the local communities of its U.S. operations. Committed to hiring and developing talent locally, HCL is working closely with several local universities to recruit recent graduates from the University of Washington, Seattle University, the University of North Texas, the University of West Florida, Oregon State University and others.

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 their 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 ('194120.000 millions), as on 31 March 2012 (on LTM basis).  

ABOUT HCL

HCL is a $6.2 billion 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, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom and package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 90,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms.

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. 54.05
UK Pound	1	Rs. 83.45
Euro	1	Rs. 72.53

INFORMATION DETAILS

Report Prepared by :

NID

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.