Your Directors have pleasure in presenting the 18th Annual Report on the Companys business and operations, together with the audited financial statements for the year ended March 31, 2013.
Bharti Airtel continued to be among the top four mobile service providers globally with presence in 20 countries, including India, Sri Lanka, Bangladesh and 17 countries in the African continent. The Companys diversified service range includes mobile, voice and data solutions using 2G, 3G and 4G technologies. Its service portfolio also comprises an integrated suite of telecom solutions to its customers, besides providing long-distance connectivity in India, Africa and rest of the world. The Company also offers Digital TV and IPTV services in India.
All these services are rendered under a unified brand airtel, either directly or through subsidiary companies. The Company also deploys, owns and manages passive infrastructure pertaining to telecom operations through its subsidiary, Bharti Infratel Limited, which owns 42% of Indus Towers Limited. Together, Bharti Infratel and Indus Towers are the largest passive infrastructure service providers in India.
In line with the statutory guidelines, the Company has adopted International Financial Reporting Standards (IFRS) for accounts consolidation from FY 2010-11. Consolidated and standalone financial highlights of the Companys operations are as follows:
Consolidated Financial Highlights (IFRS)
|Particulars||FY 2012-13||FY 2011-12|
|Rs Millions||USD Millions*||Rs Millions||USD Millions*|
|Cash profit from operations before derivatives and|
|Earnings before taxation||49,820||915||65,183||1,363|
* 1 USD = Rs 54.43 Exchange Rate for financial year ended March 31, 2013 (1 USD = Rs 47.84 for financial year ended March 31, 2012).
Standalone Financial Highlights (IGAAP)
|Particulars||FY 2012-13||FY 2011-12|
|Rs Millions||USD Millions*||Rs Millions||USD Millions*|
|Cash profit from operations after derivatives|
|and forex fluctuations||132,815||2,440||128,722||2,691|
|Earnings before taxation||64,548||1,186||69,562||1,454|
* 1 USD = Rs 54.43 Exchange Rate for financial year ended March 31, 2013 (1 USD = Rs 47.84 for financial year ended March 31, 2012).
The financial results and the results of operations have further been discussed in detail in the Management Discussion and Analysis section.
During the year, there was no change in the Companys issued, subscribed and paid-up equity share capital. On March 31, 2013, it stood at Rs 18,987,650,480, divided into 3,797,530,096 equity shares of Rs 5 each.
An amount of Rs 3,830 Mn has been transferred to the General Reserve out of Bharti Airtels total standalone profit of Rs 50,963 Mn for the financial year ended March 31, 2013.
The Board recommends a final dividend of Rs 1 per equity share of Rs 5 each (20% of face value) for the financial year 2012-13. The total dividend payout will amount to Rs 3,798 Mn excluding tax on dividend. The payment of dividend is subject to the approval of the shareholders in the Companys ensuing Annual General Meeting.
Transfer of Amount to Investor Education and Protection Fund
Since the Company declared its maiden dividend in August 2009 for the FY 2008-09, no unclaimed dividend is due for transfer to Investor Education and Protection Fund.
The Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding, as on the balance sheet closure date.
Capital Market Ratings
As on March 31, 2013, Bharti Airtel is rated by two domestic rating agencies, namely CRISIL and ICRA, and two international rating agencies, viz. Fitch Ratings and S&P.
CRISIL and ICRA revised their long-term ratings of the Company. Currently, they rate the Company at [CRISIL] AA+/[ICRA] AA+ with a stable outlook. Short-term ratings were reaffirmed at the highest end of the rating scale at [CRISIL] A1+/[ICRA] A1+
Fitch Ratings and S&P reaffirmed their respective ratings at BBB- with negative outlook and BB+ with stable outlook
Employee Stock Option Plan
The Company presently has two Employee Stock Option (ESOP) schemes, namely the (Employee Stock Option Scheme 2001) and the Employee Stock Option Scheme 2005. Besides attracting talent, the Schemes also helped to retain talent and experience.
Both the above mentioned ESOP schemes are presently administered through a Trust, whereby the shares held/ acquired by the Trust are transferred to the employees upon exercises of stock options as per the terms of the Scheme.
In view of the recent Circular issued by SEBI, the Company stopped acquiring further shares from the open market toward appropriation of the same for the ESOP scheme 2005. The shares acquired/held by the Trust prior to the circular will be utilised to administer the above schemes in accordance with the applicable regulations.
The ESOP Compensation Committee, constituted in accordance with the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 (the SEBI Guidelines), administers and monitors the Companys ESOP schemes. The applicable disclosures as stipulated under the SEBI Guidelines, as on March 31, 2013, are provided in Annexure C to this report.
A certificate from M/s. S. R. Batliboi & Associates LLP, Chartered Accountants, Statutory Auditors, with respect to the implementation of the Companys ESOP schemes, would be placed before the shareholders at the ensuing Annual General Meeting. A copy of the same will also be available for inspection at the Companys registered office.
FY 2012-13 was marked by significant achievements on the brand front. Strategic repositioning of brand airtel was accelerated to make it younger, livelier and better connected. The brand followed a coherent strategy for a younger and fresher brand anchored in the Friendship communication territory.
In India, various advertisement campaigns, including Har Friend Zaroori, Jo Mera Hai TV Commercial and others enhanced the popularity of brand airtel further. Airtel Rising Stars gained more popularity in 2012, as it engaged the youth across India, Sri Lanka and Bangladesh. Our association with Manchester United was leveraged, allowing young people to go for training at the Manchester Soccer School Academy, UK. In 2012, Bharti Airtel helped ingrain the love for F1 sport in the minds of the Indian audience through the stars Michael Schumacher and Nico Rosberg.
In Africa, Innovative trade branding toolkits were successfully rolled out in all countries. During the year, over 650,000 square metres of wall branding were completed, and Picture of Success (PICOS) rolled out in over 231,000 retail outlets, 625 express shops and about 6,000 pan-Africa extra outlets. The Company also created airtel Smartphones logo for device merchandising, which was implemented in 13 countries. ARS Africa Championship, the largest and first-of-its-kind youth soccer tournament for boys and girls in the continent, was successfully inaugurated in Nairobi, Kenya. As many as 15 countries participated in the event, which was endorsed and flagged off by the Kenyan Prime Minister. The Company rolled out airtel Football TV Show on DSTV, which premiered on the popular SuperSport channel. It also launched digital platforms for consumer engagement via airtel-football.com and facebook.com/AirtelFootball.
The Company completely revamped its internet and social media presence. This initiative helped increase its community sizes by more than 600% to over 7 Mn and created one of Indias buzziest and most engaging social media brands. Brand airtel was ranked as No. 1 among the service brands in 2012 by Brand Equitys Most Trusted Brand Survey. It also won several awards, including seven Abbies at GoaFest, four Effies, three Bloomberg Brand Leadership awards, CNN-IBNs Brand of the Year award, Yahoos 360 Campaign of the Year award, agency faqs third Buzziest Indian Brand and so on. Bharti Airtel captured the numero uno position among telecom brands in Economic Times Brand Trust ratings. It also entered the Financial Times Londons list of Top 100 Global Brands. The Nigeria Half Dollar campaign was listed as a finalist in the Facebook Studio Awards.
Major Agreements and Alliances
The Company signed the following key agreements/alliances in the year under review with:
Ericsson for Access Agnostic Packet Core catering to 2G, 3G and, in future, 4G customers in all countries of Africa
HP to provide Cloud-enabled platform (CLEP) to offer Cloud-based services across all geographies in Africa
Ceragon, NSN and Ericsson for supply and installation of Trunk Microwave to create high-capacity backbones across all geographies in Africa
Huawei and Ericsson for IN system to implement latest features, hardware modernisation and geographical redundancy in India
Cisco and Alcatel Lucent (using Ruckus technology) to deploy Wi-Fi hotspots in high footfall areas in top Indian cities
Spirent, Agilent Technologies, Rohde & Schwarz, JDSU and IXIA Wirtel to augment our state-of-the-art, in-house validation laboratory capabilities for India
Microsoft to launch Office 365 (O365) product for its subscribers in India through airtel Cloud Enablement Platform
TURNER for two new advertisement-free channels on airtel digital TV in India, namely HBO Hits and HBO Defined, to deliver a new, premium movie-viewing experience to the subscribers
SAREGAMA and Timbre Media to provide 12 radio channels for iMusicspace service on airtel digital TV to enable genre-wise music-listening experience to the subscribers
During the year under review, the Company launched various new and innovative products and services, directly as well as through its subsidiaries. These offerings enabled it to strengthen its leadership in an intensely competitive market. Some of the key launches/initiatives across geographies during the year in retrospect are discussed below.
Superior customer experience has been at the heart of all initiatives and products that were launched during the year. The Companys presence across platforms 2G, 3G, 4G and DSL enables our customers to experience data across screens. For improved data experience, we launched near real-time GPRS usage monitoring tool and, thereby reduced customer complaints.
To improve platinum and solitaire customer satisfaction, the Company initiated several focused programmes like priority access at call centres and offering attractive deals and discounts.
With our focus on customer convenience, adding non-traditional channels of contact became a focus area. We have established our presence across popular social networking sites and online forums.
During 2012-13, we undertook several key initiatives including the following:
Launched 4G services in Pune, followed by Chandigarh, taking the total number of cities with 4G services to four (Bangalore, Kolkata, Pune and Chandigarh)
Developed Apps and Games Store with APPIA, which is ranked third globally as an Apps and games Store, and helped consumers download data; a maximum of 100,000 downloads were performed in a day
Launched HD gaming, offering high-definition games for smartphones like android and 3G devices
Launched airtel live Wap portal in Hindi to open up the world of internet for even a larger number of consumers
Collaborated strategically with Opera Browser to enhance Mobile Internet browsing experience on 2G networks
Integrated Billing API with Nokia Store to help customers pay from their airtel wallet and download apps and games from Nokia Store
Launched mBazaar, a unique service, which uses an innovative business model of lead generation to provide a market place to customers and enables an unlimited search and deals at the location nearest to them at a very nominal price
Introduced Rural Portal - a first-of-its-kind innovative service catering to the rural segment
Launched the unique Emergency Alerts service to enable subscribers send instant and automatic alerts
Introduced new innovative services in the DTH business; added recording facility on High Definition (HD) boxes to help a customer record content on USB drives, while watching his/her favourite channel on High Definition (HD) Set Top Boxes and Digital Video Recorders (DVR) with 3D capabilities
Introduced iExam with content on Bank PO, MBA, Medical, Class 8th, 9th and 10th exams
Opened up money transfer through airtel money to any bank account in India on the non-KYC Express wallet, along with P2P transfers to any other airtel money account
Partnered with Axis Bank to launch the Super Account in May 2012 to help customers save and earn interest on their airtel money account, as well as cash-out according to their requirement
Implemented Cloud Portal (without Billing) for Nigeria
Introduced 64K SIM Standardisation in 14 countries to ensure higher capacity SIM card availability to increase VAS content for the subscriber and to standardise SIM card profiles across the African countries
Implemented Doctor on Call in Malawi to give customers the opportunity to consult doctors over mobile phone
Launched BB10 in Nigeria, making it the first country to introduce this BlackBerry device that offers new look and feel and provides a different BlackBerry experience; the operators infrastructure, as well as the way the BlackBerry services will be packaged and commercialised are also different
During the year, Bharti Infratel Limited, the Companys subsidiary, made an Initial Public Offering (IPO) through book building process. The subsidiary raised Rs 32,303 Mn from the fresh issue of 146.2 Mn equity shares at an average price of
Rs 220.90 per share of face value Rs 10 each. Bharti Infratels shares were listed on December 28, 2012, on NSE and BSE.
During the year under review w.e.f. September 06, 2012, Lord Evan Mervyn Davies and H.E. Dr. Salim Ahmed Salim and w.e.f. September 26, 2012, Mr. Akhil Gupta, Mr. Rakesh Bharti Mittal and Mr. Hui Weng Cheong ceased to be the Directors and Mr. N. Kumar retired from the Board w.e.f. February 01, 2013. The Directors place on record their appreciation for the help, guidance and contribution made by them during their tenure as Directors.
Ms. Obiageli Ezekwesili and Mr. Manish Kejriwal were appointed as Additional Directors w.e.f. September 26, 2012. They will cease to hold office at the forthcoming Annual General Meeting and are eligible for re-appointment. The Company has received notices from members under Section 257 of the Companies Act, 1956, proposing the appointment of Ms. Obiageli Ezekwesili and Mr. Manish Kejriwal as the Companys Non-Executive Directors. The Board recommends their appointment.
Mr. Manoj Kohli and Mr. Gopal Vittal were also appointed as Managing Director and Joint Managing Director, respectively, of the Company for a period of five years w.e.f. February 01, 2013. The approval of the members was obtained for this through postal ballot notice dated February 1, 2013.
Ms. Tan Yong Choo, Mr. Ajay Lal and Mr. Pulak Prasad retire by rotation at the forthcoming Annual General Meeting. Ms. Tan Yong Choo and Mr. Ajay Lal, being eligible, have offered themselves for re-appointment. In terms of the policy on Independent Directors adopted by the Board, Mr. Pulak Prasad, Independent Director, has completed his term of office and does not seek re-appointment for succeeding term in the ensuing Annual General Meeting.
A brief resume of the Directors proposed to be appointed/ re-appointed, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges, is appended as an annexure to the Notice of the ensuing Annual General Meeting.
As on March 31, 2013, your Company has 119 subsidiary companies, as set out in page no. 227 of the Annual Report (for abridged Annual Report please refer page no. 87).
Pursuant to the General Circular No. 2/2011, dated February 8, 2011, issued by the Ministry of Corporate Affairs, Government of India, the Board of Directors have consented for not attaching the balance sheet, statement of profit & loss, and other documents, as set out in Section 212(1) of the Companies Act, 1956, in respect of its subsidiary companies, for the year ended March 31, 2013.
Annual accounts of these subsidiary companies, along with related information, are available for inspection at the Companys registered office and the registered office of the respected subsidiary companies. Copies of the Annual Report of the subsidiary companies will also be made available to the investors of Bharti Airtel and those of the subsidiary companies upon request.
The statement pursuant to the above referred circular is annexed on page no. 93 of the Abridged Annual Report and page no. 234 of the full version Annual Report.
Abridged Financial Statements
In terms of the provisions of Section 219(1)(b)(iv) of the Companies Act, 1956, the Board of Directors has decided to circulate printed copy of the Abridged Annual Report containing salient features of the balance sheet and the statement of profit & loss to the shareholders for the financial year 2012-13, who have not registered their email id. Full version of the Annual Report will be available on the Companys website, www.airtel.com, and will be sent to the investors by email. To support the green initiative of the Ministry of Corporate Affairs, the Company has also decided to send all communications, including the Annual Report, through email to those shareholders, who have registered their email id with their depository participant/Companys registrar and share transfer agent. If a shareholder wishes to receive a printed copy of such communications, he/she may please send a request to the Company, the same will be sent a printed copy of the communication.
Management Discussion and Analysis Report
Managements Discussion and Analysis Report for the year under review, as stipulated under Clause 49 of the Listing Agreement with the Stock Exchanges in India, is presented in a separate section forming a part of the Annual Report.
The Company is committed to maintain the highest standards of Corporate Governance. The Company adhere to the requirements set out by SEBIs Corporate Governance practices. The Company has implemented all the stipulations prescribed.
A detailed report on Corporate Governance, pursuant to the requirements of Clause 49 of the Listing Agreement, forms a part of the Annual Report. However, in terms of the provisions of Section 219(1)(b)(iv) of the Act and Clause 32 of the Listing Agreement, the abridged Annual Report, excluding this report, will be sent to the Companys members. Members who desire to obtain the full version of the report may write to the Company Secretary at the registered office address and will be provided with a copy of the same. A certificate from the Companys Auditors, M/s. S. R. Batliboi & Associates LLP, Chartered Accountants,Gurgaon, confirming compliance of conditions of Corporate Governance, as stipulated under Clause 49, is annexed to the report as Annexure A.
Corporate Social Responsibility and Business Responsibility Report
At Bharti Airtel, Corporate Social Responsibility (CSR) encompasses much more than social outreach programmes. It lies at the heart of the Companys business operations. Detailed information on the Companys CSR initiatives is provided in this Annual Reports CSR section and the Business Responsibility Report.
SEBI, vide its Circular CIR/CFD/DIL/8/2012 dated August 13, 2012, mandated the top 100 listed entities, based on market capitalisation at BSE and NSE, to include Business Responsibility Report as a part of the Annual Report describing the initiatives taken by the companies from Environmental, Social and Governance perspective.
Accordingly, a detailed report on Corporate Social Responsibility and Business Responsibility Report forms a part of the Annual Report. However, in terms of the provisions of Section 219(1)(b)(iv) of the Act and Clause 32 of the Listing Agreement, the Abridged Annual Report, excluding this report, will be sent to the Companys members. Members who desire to obtain the full version of the report may write to the Company Secretary at the registered office address and will be provided with a copy of the same.
Sustainability initiatives have been integral to the Companys journey since inception. The last two years witnessed the Company adding a more comprehensive and structured sustainability plan with active cooperation of all stakeholders. The objective is to benefit our community and the planet through all our operations and engagements. Bharti Airtel is strengthening its efforts on issues like climate change, employee engagement, waste management, digital inclusion and impact on communities, among many others. The Company is committed to maintain the highest standards of governance, safety and environmental performance across the value chain. The Company released its first sustainability report 2012 highlighting its various initiatives. The Companys first sustainability report is available on the website of the Company and can be accessed at http://www. airtel.in/sustainability/
The Companys Statutory Auditors, M/s. S. R. Batliboi & Associates LLP, Chartered Accountants, Gurgaon, retire at the conclusion of the Companys ensuing Annual General Meeting and have confirmed their willingness and eligibility for re-appointment.
The Company has received letters from the Auditors to the effect that their re-appointment, if made, would be within the prescribed limits under Section 224(1B) of the Companies Act, 1956, and that they are not disqualified for re-appointment within the meaning of Section 226 of the said Act.
The Board has duly examined the Statutory Auditors Report to the accounts, which is self explanatory. Clarifications, wherever necessary, have been included in the Notes to Accounts section of the Annual Report.
As regards the comments under para i(a) of the annexure to the Independent Auditors Report regarding updation of quantitative and situation details relating to certain fixed assets, the Company has strengthened its processes whereby the fixed assets register for new assets is being updated for the quantitative and situation details on a real time basis. The Company has made significant progress in updation of the situation details for majority of the sites for past period capitalisation, and intends to complete the site wise updation of quantitative details as per the ongoing physical verification plan.
Pursuant to the direction of the Central Government, the CompanyhasappointedM/s.R.J.Goel&Co.,CostAccountants, as Cost Auditors for FY 2013-14. The Cost Auditors will submit their report for FY 2012-13 to the Government on or before the due date.
Secretarial Audit Report
The Company has appointed M/s. Chandrasekaran Associates, Company Secretaries, New Delhi, to conduct its Secretarial Audit for the financial year ended March 31, 2013. The Auditors have submitted their report confirming compliance with all the applicable provisions of various corporate laws. The Secretarial Audit Report is provided separately in the Annual Report. In terms of the provisions of Section 219(1)(b)(iv) of the Act and Clause 32 of the Listing Agreement, the abridged Annual Report, excluding this annexure, will be sent to the Companys members. Members who desire to obtain this information may write to the Company Secretary at the registered office address and will be provided with a copy of the same.
Particulars of Employees
The information, as required to be provided in terms of Section 217(2A) of the Companies Act, 1956, read with Companies (Particular of Employees) Rules, 1975, have been set out in the annexure to this report. In terms of the provisions of Section
219(1)(b)(iv) of the Act and Clause 32 of the Listing Agreement, the Abridged Annual Report, excluding this annexure, will be sent to the Companys members. Members who desire to obtain this information may write to the Company Secretary at the registered office address and will be provided with a copy of the same.
Energy Conservation, Technology Absorption, and Foreign Exchange Earnings and Outgo Being a service providing organisation, most of the information of the Company, as required under Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules, 1988, as amended, is not applicable. However, the information, as applicable, has been given in Annexure B to this report.
Directors Responsibility Statement
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors, to the best of their knowledge and belief, confirm that:
I. The applicable accounting standards have been followed, along with proper explanation relating to material departures, in the preparation of the annual accounts for the year ended March 31, 2013.
II. They have selected and applied consistently and made judgments and estimates that are reasonable and prudent to give a true and fair view of the Companys state of affairs and profits, as at the end of the financial year.
III. They have taken proper and sufficient care to maintain adequate accounting records in accordance with the provisions of the Companies Act, 1956, and to safeguard the Companys assets and to prevent and detect fraud and other irregularities.
IV. They have prepared the annual accounts on a going concern basis.
Your Directors wish to place on record their appreciation to the Department of Telecommunications (DoT), the Central Government, the State Governments in India, Government of Bangladesh, Government of Sri Lanka and Governments in the 17 countries in Africa, Companys Bankers and business associates, for assistance, co-operation and encouragement they extended to the Company. The Directors also extend their appreciation to the employees for their continuing support and unstinting efforts in ensuring an excellent all-round operational performance. The Directors would like to thank various partners, viz. Bharti Telecom, Singapore Telecommunications Ltd. and other shareholders for their support and contribution. We look forward to their continued support in future.
|For and on behalf of the Board|
|Date: May 2, 2013||Sunil Bharti Mittal|
|Place: New Delhi||Chairman|
Auditors Certificate Regarding Compliance of Conditions of Corporate Governance
The Members of Bharti Airtel Limited,
We have examined the compliance of conditions of Corporate Governance by Bharti Airtel Limited ("the Company"),for the year ended March 31, 2013, as stipulated in Clause 49 of the Listing Agreement of the said Company with Stock Exchanges in India.
The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination was limited to procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
In our opinion and to the best of our information and according to the explanations given to us, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned Listing Agreement. We state that such compliance is neither an assurance as to the future viability of the Company nor the effectiveness with which the management has conducted the affairs of the Company.
For S. R. Batliboi & Associates LLP
ICAI Firm Registration No: 101049W
per Nilangshu Katriar
Membership No: 58814
Place: New Delhi
Date: May 2, 2013
Information relating to conservation of energy, technology absorption, research and development, and foreign exchange earnings and outgo forming parts of Directors Report in terms of Section 217(1)(e) of the Companies Act, 1956, read with the Companies (Disclosure of Particulars in the Report of the Board of Directors) Rules, 1988
Conservation of Energy and Technology Absorption
The information in Part A and B, pertaining to conservation of energy and technology absorption, are not applicable to Bharti Airtel, as it is a telecommunication services provider. However, the Company requires energy for its operations and every endeavour has been made to ensure the optimum energy use, avoid wastage and conserve energy as much as possible.
The Company continuously evaluates global innovation and technology as a benchmark and, whenever required, enters into arrangements to avail of the latest technology trends and practices.
Foreign Exchange Earnings and Outgo
Activities relating to initiatives taken to increase exports; development of new export markets for products and services, and export plans.
International Long-distance Business
The Company has a global footprint with services in 26 countries with 13 points of presence (PoPs). It continues to focus on emerging markets. The infrastructure establishes a seamless connectivity globally, offering at least three cables on every route, thereby providing unparalleled diversity and resilience. The Company witnessed growth in its long-distance voice business, emerging among the Top 10 Global Carriers. It believes that its presence and operations in developing markets, especially Asia and Africa, coupled with strong bilateral global relationships, will further strengthen its position, therefore increasing global traffic share.
Telecom Services in Other Countries
Bharti Airtel Lanka (Pvt) Limited is Sri Lankas fastest growing wireless service provider. It expanded its footprint by starting commercial operations in the countrys eastern and northern parts. Airtel Lanka ended the financial year with 1.7 Mn customers. The Company continues to gain leadership in both incremental customer market share and revenue market share through aggressive marketing and strong distribution network.
Airtel Bangladesh Limited continues to grow and currently has over 6.2 Mn customers. The Company has 135 distributors and over 96,000 retailers across the country. In the six markets, which are extremely competitive for the operators, the Companys immediate focus is to ensure faster quality network rollout across the country and build a strong dynamic brand. As in March 2013, Airtel Bangladesh Limited reached population coverage of about 77%.
Airtel Africa continues to grow with the ending revenue earning customer base for the year at 63.3 Mn; the Company crossed the 60 Mn mark in October 2012. Nigeria, which is the largest market, contributes 30% to the revenue-earning customer base, while the Francophone and Anglophone regions contribute 29% and 41%, respectively. Network rollout continued aggressively, with the total number of sites ending at 16,653 at the end of March 2013.
Total foreign exchange used and earned for the year:
(a) Total Foreign Exchange Earning Rs 27,824 Mn (b) Total Foreign Exchange Outgo Rs 47,568 Mn
Information Regarding The Employees Stock Option Scheme (As on March 31, 2013)
|S. No.||Particulars||ESOP Scheme 2005||ESOP Scheme 2001|
|1)||Number of stock options granted||27,397,047*||40,530,078**|
|2)||Pricing Formula||Exercise Price not less than the par||29,015,686 @ 11.25|
|value of the equity share and not||1,760,000 @ 0.45|
|more than the price prescribed under||4,380,000 @ 35.00|
|Chapter VII of the SEBI (Issue of||142,530@ 0.00|
|Capital and Disclosure Requirements)||5,166,862 @ 5.00|
|Regulation, 2009 on Grant Date||40,000 @ 60.00|
|25,000 @ 110.50|
|4)||Number of options exercised||5,396,795||30,181,543|
|5)||Number of shares arising as a result of exercise of option during the financial year 2012-13||Nil||Nil|
|6)||Number of options lapsed||12,095,302||9,163,883|
|7)||Money realised by exercise of options||Rs 621,402,051||Rs 389,387,285|
|8)||Total number of options in force||9,903,950||1,185,150|
|9)||Options granted to senior managerial personnel during the financial year 2012-13|
|Mr. Bhaskar Chakraborty||8,400||-|
|Mr. Narender Gupta||9,700||-|
|Mr. Christopher Tobit||4,800||-|
|Mr. Najib Khan||5,500||-|
|Mr. Srinivas K||20,100||-|
|Mr. Rajnish Singh Baweja||6,900||-|
|Mr. N. Arjun||12,700||-|
|Mr. Sam Elangalloor||3,200||-|
|Mr. Shivan Bhargava||7,100||-|
|Mr. Raghunath Mandava||11,700||-|
|Mr. Deven Khanna||18,700||-|
|Mr. Sarvjit Singh Dhillon||46,800||-|
|Mr. Rajan Swaroop||12,500||-|
|Mr. Ajai Puri||13,000||-|
|Mr. Shashi Arora||6,900||-|
|Mr. Nilanjan Roy||17,600||-|
|Mr. S. Asokan||15,900||-|
|Mr. Rahul Gupta||9,600||-|
|Mr. K. Shankar||24,300||-|
|Mr. Inder Walia||41,000||-|
|Ms. Jyoti Pawar||16,000||-|
|Mr. Sriraman Jagannathan||15,600||-|
|Mr. Mohit Beotra||5,800||-|
|Mr. Alexander Andrew Kelton||20,100||-|
|Mr. Sunil Colaso||10,200||-|
|Mr. Mrinal Roy||8,400||-|
|Mr. V. G. Somasekhar||13,000||-|
|Mr. N. Rajaram||11,400||-|
|Mr. Jagbir Singh||23,000||-|
|Mr. Mukesh Bhavnani||19,600||-|
|Mr. Bharat Bambawale||21,100||-|
|Mr. Joaquim Mario Do Carmo Pereira||30,000||-|
|Mr. Gopal Vittal||150,000||12,500|
|Mr. Moti Gyamlani||-||50,000|
|10)||Diluted earning per share (EPS) as per AS 20||N.A.||N.A.|
|11)||Difference between the employees compensation cost based on intrinsic value of the stock and the fair value for the year and its impact on profits and on EPS of the Company||N.A.||N.A.|
|12)||a) Weighted average exercise price||Rs 212.08||a) Rs 11.25; Rs 0.45; Rs 35;|
|Rs 0; Rs 5; Rs 60; Rs 110.5|
|b) Weighted average fair price||Rs 185.12||b) NA; NA; NA; Rs 69.70;|
|Rs 263.19; Rs 84.43;|
|13)||Method and significant assumptions used to estimate the fair values of options||Black Scholes/Lattice Valuation Model/Monte Carlo Simulation|
|(i) risk - free interest rate||i) 7.88% p.a. to 8.84% p.a. (The Government Securities curve yields are considered as on valuation date)|
|(ii) expected life||ii) 48 to 60 months|
|(iii) expected volatility||iii) 36.42% to 41.58% (assuming 250 trading days to annualise)|
|(iv) expected dividends||iv) 20% (Dividend yield of 0.28% to 0.36%)|
|(v) market price of the underlying share on grant date||v) Rs 274.40 to Rs 336.70 per equity share|
* Granted 8,662,495 options out of the options lapsed over a period of time.
** Granted 8,850,078 options out of the options lapsed over a period of time.
The options granted to the senior managerial personnel under both the schemes are subject to the adjustments as per the terms of respective performance share plan.
During the year, the ESOP Compensation Committee had revised the performance measures and vesting schedule of performance linked options granted to Mr. Manoj Kohli and Mr. Sanjay Kapoor under ESOP scheme 2001 and 2005.
No employee was granted stock options exceeding 5% of the total grants or exceeding 1% of the issued capital during the year.
Statement of particulars of employees under Section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 for the year ended March 31, 2013 and forming part of the Directors Report
|Sl. No.||Name||Designation||Qualification(s)||Age (In years)||Date of Commencement of Employment||Total experience (in years)||Nature of duties of the employee||Gross Remuneration Previous employment/Designation|
|(in Rs )|
|(A) EMPLOYED THROUGHOUT THE FINANCIAL YEAR|
|1||A M Rai||Hub - Chief Technical Officer||B.E/B.Tech||52||28-Sep-00||30||Operations||8,577,288 Fibcom/Project Lead|
|2||Abhay Johorey||Head - Airtel.com||PGDBM||48||18-Oct-10||25||Business Head||12,001,994 Aviva Asia PTE LTD/Director Operations|
|3||Abhay Savargaonkar||Head - Operations||B.E/B.Tech||48||5-Aug-06||23||Operations||14,227,752 Bharti Infotel Ltd/Chief Technology Officer|
|4||Abhilasha Hans||CSO - B2C||MBA||48||23-Jan-07||22||Customer Service Delivery||17,808,715 Teletech Services India Limited/Sr. Vice President|
|5||Ajai Puri||Director - DTH||Post Graduation||52||15-May-04||32||Business Head||18,773,382 Cargill Foods India/Business Head-India Foods|
|6||Ajay Chitkara||Head - Global Data Business||PGDBM||41||1-May-01||19||Business Head||9,592,940 Comsat Max Limited/Area Sales Manager|
|7||Alexander Andrew Kelton||President - Enterprise Services||BSc. Electrical Engineering, Chartered Engineer (Eeng) and MIET||54||5-Jul-10||34||Business Head||39,118,244 Telstra International/Managing Director|
|8||Alok Bafna||Sr. Vice President- Finance||CA||39||29-Dec-03||15||Finance||6,291,117 Idea Cellular Ltd./Manager - Finance|
|9||Anand Kumar Tk||Hub - Chief Technical Officer||M.Tech/M.S||57||5-May-10||24||Operations||6,315,856 Sistema shyam teleservices ltd/Director|
|10||Anant Arora||CEO-Market Operations Gujarat||B.E/B.Tech||46||11-Apr-03||23||Business Head||11,938,077 Reliance Infocomm Ltd/Head - Sales Operations|
|11||Anantharaman R||Head - IFFCO||Post Graduation||46||26-Sep-03||22||Business Head||7,271,361 BPL Mobile Cellular Ltd/Business Head|
|12||Anjani Rathor||Head Products||PGDBM||40||10-Dec-07||16||M Commerce||8,861,423 Delhi Accenture Boeing/Director, Strategy and Business Development|
|13||Anuj Khungar||Hub - Chief Technical Officer||Post Graduation||49||28-Feb-05||25||Operations||6,903,699 Reliance Infocomm Ltd/Chief Technical Officer|
|14||Anuradha Sehgal||Head - Brand & Advertising||MBA||40||4-Oct-10||18||Brand||6,177,100 Reckitt Benckiser India Ltd./Marketing Manager|
|15||Argha Basu||Product Head||Post Graduation||45||25-Feb-08||22||Prod Dev & Business Sol Group||8,169,349 VSNL/Business Head-Mpls|
|16||Ashish Arora||Chief Operating Officer -ES Corporate-HO||MBA||43||3-Apr-07||18||Sales||8,819,452 Sify Ltd/National Sales Head|
|17||Avinash Deepak||Regional Business Head||B.E/B.Tech||42||28-Aug-06||19||Sales||6,015,208 BT Infonet/National Head - Strategic Accounts|
|18||Badal Bagri||Chief Controller B2C||CA||41||24-Sep-10||13||Finance||17,085,102 Genpact/Sr Vice President and Global Controller|
|19||Bharat Bambawale||Director - Global Brand||B.Sc.||51||1-Aug-11||29||Brand||14,187,247 J Walter Thompson/Global Business Director|
|20||Deepa Chadha||Vice President - HR||PG Diploma||41||9-Feb-09||18||Human Resources||6,304,074 Genpact/Vice president HR Shared Services|
|21||Deepak Bhatia||Head - Service Experience||MBA||40||10-Oct-05||17||Customer Service Delivery||6,201,000 Tata Tele Services Ltd/Head - CSD|
|22||Deven Khanna||Director - CMDs Office||B.Com, CA||53||1-Sep-04||23||Finance||16,413,348 Triveni Engineering Industries Ltd./VP- Corp Finance & Planning|
|23||Dharmender Khajuria||Chief Operating Officer -J&K||MBA||44||21-Nov-01||21||Business Head||6,787,854 National Panasonic/Sr. Sales Officer|
|24||Dhruv Bhagat||CEO-Market Operations Bihar||PGDBM||43||1-Sep-06||17||Business Head||9,153,860 Hutchison Essar Ltd./Business Head|
|25||Dipak Roy||Business HR Head||MBA||46||19-Jun-06||25||Human Resources||11,792,491 IBM/General Manager|
|26||Dushyant Kumar||Sr. VP - Deployment & Operations Head||B.E/B.Tech||47||2-Nov-98||21||Deployment||6,561,512 Bharti BT Internet Ltd/manager|
|27||Felix Mohan||Head SCG||Post Graduation||57||9-Oct-06||33||Information Technology||10,029,871 Secure Synergy/Director|
|28||Gautam Anand||Vice President -Business Head||MBA||36||30-Jul-09||14||Business Head||6,425,595 Citibank/Portfolio Management|
|29||George Mathen||CEO-Market Operations Assam||Post Graduation||44||17-Nov-06||22||Business Head||8,431,917 Coca Cola India/Head - Sales|
|30||George Fanthome||Chief Informations Officer - B2B||MBA||46||9-Jul-07||24||Information Technology||8,366,493 Genpact/Vice President|
|31||H Cajetan Rubenselvadoray||Head HR||Post Graduation||42||18-Jul-05||19||Human Resources||6,855,483 Motorola India Ltd./Head Learning, HR Strategy and OD|
|32||Harjeet Kohli||Group Treasurer||MBA||39||19-Jan-09||15||Finance||9,076,909 Citigroup India/Director|
|33||Harjinder Singh Kohli||Head - Government Vertical||Graduation||46||22-Sep-11||26||Sales||6,326,312 Sify Technologies Limited/Sr Vice President & Head Government Business|
|34||Heera Lal Gupta||Head - Planning||B.E/B.Tech||45||16-Feb-99||24||Planning||7,971,657 Koshika Telecom Ltd./Sr.Manager|
|35||Indeevar Krishna||Head - Ops. And Customer services (AMSL)||PGDBM||44||1-Nov-10||19||Customer Service Delivery||7,592,798 CITIBANK/Head - Branch Operations and Service, North|
|36||Inder Walia||Group Director - Human Resources||PGDBM||55||6-Aug-07||29||Human Resources||36,709,008 Arcelor Mittal/Executive Vice President, HR|
|37||Jagbir Singh||Director - Network Service Group (India & South Asia)||MBA||48||13-Apr-11||26||Technical||26,936,824 Reliance Communications Ltd./CTO|
|38||Jai Menon||Director - Global Innovation & IT||MSMech Engg. & PhD Mech Engg & Computer Sciences||49||4-Apr-11||21||Information Technology||62,823,020 Vodafone Group Services Ltd./Group Technology Strategy Director|
|39||Jayant Sood||Head Customer services - Market Ops India||CA||48||12-Aug-09||28||Customer Service Delivery||11,688,569 American Express/Business Leader|
|40||Joaquim Mario Do Carmo Pereira||Group Director - Internal Assurance||ACCA||51||6-Feb-12||28||Corporate Audit Group||8,915,636 Millicom International Cellular S.A./Head of Internal Audit, Compliance & Revenue Assurance|
|41||Jyoti Pawar||Director - Legal & Regulatory||Solicitors Degree, LLB||47||18-Aug-08||21||Legal||14,079,764 GE Money/Senior VP- Legal & Compliance|
|42||K Srinivas||President - Consumer Business||BE, PGDBM||50||7-Nov-02||25||Business Head||32,199,270 Hindustan Lever Ltd./Business Manager New Ventures|
|43||Kaushal Modi||Head - Digital Media||Post Graduation||39||12-Jul-10||15||Business Head||8,290,477 Prime Focus Technologies Private Limited/Vice President - Business Development & Sales|
|44||Kishor Asrani||Chief Operating Officer -ES Corporate-South||Graduation||43||15-Feb-05||22||Business Head||7,272,649 HCL Infinet Limited/Zonal Head - North & East|
|45||Krish Shankar||Executive Director - Human Resources||PGDBM||50||23-Mar-07||29||Human Resources||29,125,910 Unilever Asia Africa Singapore (Hindustan Lever Ltd.)/Vice President - HR|
|46||Krishan Mohan Saxena||Head - Internal Enterprise Systems||B.E/B.Tech||47||19-May-08||26||Information Technology||6,286,966 Genpact India/Vice President|
|47||Lal Bahadur Prasad||Head CSD||Post Graduation||46||1-Jul-02||24||Customer Service Delivery||7,538,586 Wipro Infotech/Regional Manager|
|48||M.p. Deepu||Sales & Marketing Head||Graduation||40||15-Oct-96||18||Sales||8,318,981 "HAB EST, Saudi Arabia"/Sales Executive|
|49||Manish Mamtani||Head Governance & PMO||B.E/B.Tech||44||5-May-08||22||Information Technology||7,166,249 Genpact/Vice President|
|50||Manoj Kumar Garg||Head HR - Consumer Business &||MBA||44||17-Aug-09||19||Human Resources||6,700,011 DELL International Services/Site HR|
|51||Manoj Murali||Chief Operating Officer -AP||MBA||42||1-Oct-01||18||Business Head||6,270,851 Crompton Greaves/Area Sales Manager|
|52||Manoj Paul||Chief Operating Officer -ES Corporate||BE & MBA||45||8-Apr-02||22||Business Head||8,083,811 HCL Commet/GM Legal|
|53||Manu Sood||Head Distribution||MBA||40||13-Jan-12||12||Business Head||8,181,447 Hindustan Lever Limited/General Manager - North India|
|54||Meenakshi Vajpai||Head Architecture||Post Graduation||50||12-Aug-03||24||Information Technology||6,736,828 vCustomer Services India Pvt Ltd/GM|
|55||Milan Rao||Head - Enterprise & Government||BE & MBA||42||1-Apr-03||19||Business Head||8,786,572 JM Morgan Stanley/Head Sales|
|56||Mohit Beotra||Head - Emerging Business||MBA||45||22-Mar-10||23||Business Head||12,253,083 Lowe Lintas India Limited/Executive Director|
|57||Mukesh Bhavnani||Group General Counsel & Co. Secretary||LLB, ACS||58||2-Jun-11||35||Co. Secretary||20,697,740 Essar Group/Group President - Legal|
|58||Munish Kanotra||Head - BPCI||PGDBM||42||9-Oct-01||17||Marketing||10,592,270 Spice Telecommunications/Sr Manager|
|59||Murali Kittu||Chief Operating Officer -Tamil Nadu||MBA||44||1-Jul-05||21||Business Head||7,777,382 Standard Chartered Bank/National Manager|
|60||N Rajaram||Chief Marketing Officer - B2C||MBA||45||1-Apr-11||21||Marketing||15,709,447 HINDUSTAN UNILEVER LIMITED/VICE PRESIDENT|
|61||Najib Khan||Chief Marketing Officer||BE & MBA||43||3-Jul-01||21||Marketing||9,225,388 Alcatel Business Systems/Technical Manager|
|62||Narender Gupta||Group Director - Corporate Affairs||B.Com, PGDBM, FCS, LLB||55||1-Feb-99||33||Corporate Secretarial & Regulatory||14,392,886 DLF Cement Ltd./Sr.Manager-Legal to GM-Legal|
|63||Neil Pollock||Head - Service Operations and CSD Transformation||MBA||47||23-Nov-09||26||Customer Service Delivery||26,860,654 Optus Pty. Ltd./Head of Strategy & Productivity|
|64||Nilanjan Roy||CFO India & South Asia||CA||47||1-Mar-06||23||Finance||19,074,355 Unilever Nv/Plc, Usa/Finance Director|
|65||Pankaj Sarna||Head Taxation||CA||52||16-Jan-99||28||Finance||6,469,674 Modi Xerox Ltd./Controller - Indirect|
|66||Prasanta Dassarma||CEO-Market Operations West Bengal||BE & MBA||50||19-Aug-02||28||Business Head||14,599,164 HFCL/Associate Vice President|
|67||Prashant Dogra||Head - Entertainment & Education||PGDBM||41||2-Jun-11||15||Marketing||6,002,321 NAVTEQ India Pvt. Ltd/Head - Customer Marketing|
|68||Puneet Garg||VP - BW Access Planning & Engineering||B.E/B.Tech||44||30-Jan-06||21||Planning||6,778,732 Lucent Technologies/Asst. Director - NOS|
|69||Pvv Srinivasa Rao||CEO-Market Operations UP East||PGDBM||45||19-Aug-10||22||Business Head||8,129,486 Cambridge Systems Inc/COO|
|70||R Mahalakshmi||Sr. Vice President - HR||MBA||39||30-Oct-08||16||Human Resources||8,799,150 Ranbaxy Laboratories Ltd/GM-HR (L & D)|
|71||Raghunath Mandava||Operations Director - East Hub||BE & MBA||46||29-Sep-03||23||Business Head||16,868,617 Hindustan Lever Ltd./Operations & Marketing Manager|
|72||Rajesh Joshi||Chief Operating Officer -Maharashtra||MBA||43||9-Mar-09||18||Business Head||7,181,035 Pantaloon Retail (India) Ltd./Head - Properties & Malls and Zonal Head - West|
|73||Rajnish Kaul||CEO-Market Operations MP&CG||Graduation||45||28-Jan-03||24||Business Head||9,472,116 Escotel Mobile Communications Ltd/ Head Sales|
|74||Rakesh Kumar||Head NLD Ops||PGDBM||45||1-Apr-06||23||Operations||6,474,094 BSNL/Joint Deputy Director General|
|75||Ramesh Menon||CEO-Market Operations Maharashtra||PGDBM||46||26-Oct-09||23||Business Head||12,638,389 Spencers Retail Ltd/Sr VP- Operations|
|76||Ravi Kumar Sreeramulu||Chief Supply Chain Officer Operations||BE & MBA||52||5-Aug-10||27||Supply Chain Management||14,690,750 Samsonite Singapore Pte Ltd/Vice President - Southeast Asia|
|77||Ravindra Singh Negi||Chief Operating Officer -UP East||PGDBM||41||1-Aug-00||18||Business Head||8,199,438 Koshika Telecom Ltd./Product Manager - Prepaid|
|78||Rohit Gothi||CEO-Market Operations NCR||MBA||45||17-Apr-09||22||Business Head||12,876,900 Lornamead Acquisitions, London/Country Director, India|
|79||Rohit Malhotra||CEO-Market Operations KK||PGDM||45||15-Apr-09||21||Business Head||11,448,036 Pantaloon Retail India Ltd/Head Operation - South Zone|
|80||S Asokan||Executive Director - Supply Chain||B.E (Mechanical),AICWA||55||7-Jun-06||28||Supply Chain Management||20,905,698 Eicher Good Earth Limited/General Manager|
|81||S Balasubramanian||Chief Accounting Officer||CA||47||8-Aug-05||22||Finance||7,210,466 Coke/General Chief Accountant|
|82||S K Sharma||Head - OE & Quality||B.E/B.Tech||57||9-May-03||34||Operational Excellence||8,440,202 GE Capital/Vice President - Quality|
|83||Samit Guha||Financial Controller India & South Asia||CA||43||17-Mar-04||22||Finance||7,088,177 Philips India Limited/Factory Controller|
|84||Sanjay Kapoor||CEO- Bharti Airtel- India & South Asia||B.Com (Hons), MBA||51||1-Jul-98||29||Business Head||88,002,849 Tele Tech Services India Ltd./President & CEO|
|85||Sanjay Kumar Jain||Circle - Chief Technical Officer||B.E/B.Tech||45||3-Aug-09||21||Operations||6,147,888 Smart Digivision Pvt. Ltd./CTO|
|86||Sanjeev Bedekar||Sr VP - Network Quality & Governance||M.Tech/M.S||48||24-Aug-06||26||Quality||7,714,394 Tata Teleservices Ltd/Vice President|
|87||Sanjeev Kumar||Global Chief - Revenue Assurance||CS||48||30-Jan-95||26||Finance||8,796,189 A F Ferguson/Consultant|
|88||Sanjeev Mahajan||Head - Enterprise Voice & Solution||Graduation||45||19-Sep-05||22||Prod Dev & Business Sol Group||6,165,222 Idea Cellular Limited/DGM-National Accounts|
|89||Sanjeev Singh||Head - Contact Experience||Post Graduation||47||7-Jul-11||23||Customer Service Delivery||7,031,400 Genpact/Senior Vice President|
|90||Sarang Kanade||CEO-Market Operations Punjab||Post Graduation||42||2-Mar-10||16||Business Head||7,150,013 Spencers Retail Ltd/VP Operation|
|91||Sarvjit Singh Dhillon||Group CFO||BA.,(Hons) FCIMA, MBA||47||29-Jun-01||25||Finance||32,411,662 British Telecom/ED & CFO|
|92||Saurabh Goel||Chief Operating Officer -KK||Post Graduation||45||27-Jun-03||17||Business Head||8,615,305 Hughes Escorts Comm. Ltd./Team Lead|
|93||Sayali Phatak||Vice President-Legal||LLB||47||22-Dec-10||17||Legal||6,168,203 Nokia siemens Network/Vice President|
|94||Shaikhali Soyeabalibarodawala||Regional Business Head||Graduation||46||28-Jan-02||27||Sales||6,092,037 SATYAM INFOWAY/Regional Manager|
|95||Sharlin Thayil||CEO-Market Operations AP||PGDBM||51||28-Dec-00||27||Business Head||19,443,917 BILT/Deputy General Manager-South|
|96||Shashi Arora||CEO - DTH -Media||BE & MBA||48||1-Feb-06||23||Business Head||12,795,238 Kotak Mahindra Bank/Group Head - Marketing|
|97||Shefali Malhotra||Finance Controller||CA||40||1-Mar-00||18||Finance||7,409,150 Airborne Express/Manager Accounts|
|98||Shishir Kumar||CEO-Market Operations Punjab||PGDBM||49||31-Aug-06||26||Business Head||8,494,238 Beta Healthcare International Ltd/Chief Operating Officer|
|99||Soumya Ranjan Jena||Circle - Chief Technical Officer||B.E/B.Tech||46||5-Apr-07||18||Operations||6,235,453 Ecnet (Celtel Nigeria Ltd)/Manager|
|100||Srikanth Balachandran||Airtel CFO||CA, B.Com||52||17-Nov-08||32||Finance||29,081,057 Hindustan Unilever Limited/Programme Leader Global Finance|
|101||Sriraman Jagannathan||CEO M-Commerce||BE & MBA||47||4-Jan-10||24||M Commerce||17,790,052 Citibank/Vice President|
|102||Sudipto Chowdhury||CEO-Market Operations Rajasthan||Graduation||49||16-Jun-03||27||Business Head||14,739,602 Bharti Hexaom Ltd./Vice President|
|103||Sukesh Jain||Chief Marketing Officer||BE & MBA||45||1-Jun-00||21||Marketing||7,947,631 Procall/Sr. Manager|
|104||Suman Kargupta||Head - Transformation Projects||Diploma||43||23-Mar-09||21||Customer Service Delivery||6,299,220 Tata Teleservices Limited/Head - Business Excellence and Customer Relationship Management|
|105||Sunil Bharti Mittal||Chairman||Graduate||55||1-Oct-01||27||General Management||225,568,548 Bharti Cellular Ltd./CMD|
|106||Surendra Bisht||Deputy General Manager||BE & MBA||38||9-Feb-09||17||Sales||6,291,885 Quantum Corporation/National Pre-sales Manager|
|107||Surendran C||Chief Operating Officer -NCR||BE & MBA||47||4-Nov-03||25||Business Head||9,265,809 Modi Xerox/Head-Outsourcing|
|108||Umesh Gupta||Head Infrastructure||PGDSM||45||12-Dec-06||22||Information Technology||8,507,714 Equinox Overseas Private Limited/Chief Information Officer|
|109||V Sankaranarayanan||Head - Special Projects||B.E/B.Tech||57||1-Feb-11||32||Operations||8,606,041 ETISALATDB/OPerations Head|
|110||Venkatesh Vijay Raghavan||Head - Mkt Ops India||PGDBM||40||4-Jul-03||18||Marketing||7,055,471 Reliance Infocom Ltd./Product Manager- Marketing|
|111||Vijai Prakash Tripathi||Head UNOC||Post Graduation||50||15-Dec-97||25||Operations||6,730,679 Optel Telecom Ltd./Project Lead|
|112||Vikas Singh||CEO KTN||MBA||46||22-Aug-06||23||Business Head||13,223,979 Hutch India/AVP-Sales & Marketing Operations|
|113||Vir Inder Nath||Chief Operating Officer -West Bengal||PGDBM||40||23-Apr-07||16||Business Head||6,131,873 IDEA Cellular/DGM|
|114||Vivek Manglik||Head Voice Sales International||PGDBM||43||6-Sep-10||18||Sales||6,810,963 TATA COMMUNICATIONS LIMITED/GM SALES|
|115||Zairus Master||Head - Devices||MBA||41||18-Apr-11||16||Marketing||7,554,200 Nokia India pvt Ltd/Head Solution Marketing|
|Sl. No.||Name||Designation||Qualification(s)||Age (In years)||Date of Commencement of Employment||Total experience (in years)||Nature of duties of the employee||Gross Remuneration (in Rs )||Previous employment/ Designation|
|(B) EMPLOYED FOR PART OF THE FINANCIAL YEAR|
|1||A Ganesh||Sr. Vice President -Business Head||PGDBM/B. Tech||36||1-Feb-13||12||Business Head||1,118,686||Hindustan Unilever Limited/ General Manager|
|2||Amit Vyas||Head Submarine Cable Projects||MBA||39||14-Jun-04||16||Network||3,484,032||N.M. Rothschild/Sr Consultant|
|3||Amrita Gangotra||CIO - India & South Asia||Post Graduation||48||25-Nov-02||23||Information Technology||15,241,694||HCL Comnet Ltd/Chief Information Officer|
|4||Ananda Mukerji||Group Director - Business Development||PGDBM, B.Tech||53||7-Mar-11||27||Business Development||23,029,275||Firstsource Solutions Limited/Founding Managing Director & CEO|
|5||Anil Sharma||Advisor - Group Corporate Affairs||B.A.||60||19-Mar-12||37||Corporate Affairs||5,275,316||JSW Ispat Steel Limited/ Director - Corporaye Affairs|
|6||Anupma Suneja||Head - Measurement & Research||PGDBM||41||9-Apr-07||16||Operational Excellence||1,301,620||Synovate India/Research Director|
|7||Ashish D Kalay||Chief Informations Officer - B2C||MBA||48||8-Nov-10||23||Information Technology||8,768,495||Colt Telecom/Director/IT Head- India|
|8||Gopal Vittal||JMD & CEO (India)||MBA||47||3-Apr-12||22||Business Head||27,045,755||Hindustan Uniliver Limited/ Executive Director|
|9||Jitin Wasan||Head - Legal & Compliance||CS||37||27-Jan-03||13||Legal||4,798,688||Rajinder Narain & Co. Advocates/Associate|
|10||Kamal Hingorani||Head - Internal Audit, India & South Asia||BE & MBA||42||28-Jul-09||18||Corp Audit Group||7,334,803||Standard Chartered Bank/ Senior Audit Manager|
|11||Krishna K Ganesan||Head - Commerce & Emerging Mkts||MBA||47||1-Nov-10||21||Information Technology||3,004,331||BA Continuum Solutions/SVP Global Banking Technology|
|12||L Ramakrishna||CSCO||Post Graduation||48||29-Sep-00||25||Supply Chain Management||3,133,008||Alcatel Business Systems/Sr Manager|
|13||Moti Gyamlani||Global Head - Supply Chain Management||Masters in International Business Administration||40||17-Dec-12||17||Supply Chain Management||6,957,444||GE Energy/Group Vice President - Global supply Chain|
|14||N Arjun||Director - Projects||B.Com, MBA and P.G. Diploma in International Trade||56||17-Jan-83||30||Business Head||7,320,570||Bharti tele Ventures Ltd/Chief Operating Officer|
|15||N L Garg||CSCO||B.E/B.Tech||48||19-Jul-04||26||Supply Chain Management||6,865,569||Escotel Mobile Communications Ltd/Dy Manager|
|16||Partha Roy||Market Operations - India||Post Graduation||45||16-Apr-98||22||Supply Chain Management||4,308,089||Onida Savak Ltd.(Noida)/ Deputy Manager|
|17||Rajan Swaroop||Executive Director - NSBU||BE & MBA||56||15-Nov-04||31||Business Head||16,960,374||Escotel Mobile Communication/CEO & ED|
|18||Rajiv Rajgopal||Head - Broad Band & Data||MBA||45||12-Sep-07||22||Business Head||13,351,429||Castrol India Limited/VP Sales - Retail|
|19||Ramamurthy Kolluri||VP - Telecom & Service Management||Post Graduation||58||3-Nov-00||33||Strategic Architectural Engineering||6,051,224||Siemens Public Communication Networks Ltd/VP Information & Broadband|
|20||Ravi Chandran||Head - BSG||Post Graduation||48||31-Dec-07||22||Prod Dev & Business Sol Group||5,602,187||Reliance Communication/ Head - Pragramme Mgmt|
|21||Ravi Kaushal||Senior Vice President -Business Head||CA||57||17-Apr-95||33||Business Head||3,692,288||TCILl Bellsouth Ltd./General Manager-Finance|
|22||S. Sriram||Head Marketing - DTH & Media||Post Graduation||40||18-Oct-04||16||Marketing||1,337,609||Mother Dairy Ltd./Marketing Mgr.|
|23||Sameer Kirit Anjaria||Chief Operating Officer -Orissa||MMS/B.E||40||3-Dec-12||16||Business Head||2,046,720||Nokia Corporation MEA/Head Care Channel Development, IMEA|
|24||Sanjay Berry||Head - Corporate Planning & Reporting||CA||44||29-May-12||18||Finance||5,307,515||SCS India Pvt Ltd/Director - Tax|
|25||Shankar Halder||Chief of Network Operation||B.E/B.Tech||54||19-Apr-04||30||Network||20,349,816||Escotel Ltd./Chief Technical Officer|
|26||Shyam P Mardikar||Head - SAE||B.E/B.Tech||42||26-Jul-12||20||Strategic Architectural Engineering||4,936,759||Leara/Chief Technical Officer|
|27||Srikanth Gummadi||VP - Standardization & Industry Coorporation||M.Tech/M.S||37||14-Feb-11||12||Strategic Architectural Engineering||3,240,632||Qualcomm Inc/Principal Engineer|
|28||Sudeep Banerjee||Head HR Telemedia||MBA||43||21-Feb-05||21||Human Resources||8,818,722||Aventis/General Manager-HR|
|29||Sugato Banerji||VP - Marketing Projects||PGDBM||49||17-Sep-07||22||Marketing||4,714,827||VISA/Director- Prepaid,Business Development,South Asia|
|30||Suresh Kumar Jayaraju||Head - Application Data||PGDBM||39||3-Jul-12||16||Marketing||4,503,621||Reliance Communications Ltd/V.P., Head of New Age VAS|
|31||Vineet Taneja||Operations Director - South Hub||BE & MBA||49||17-May-10||25||Business Head||19,597,102||Nokia India/Head of Marketing|
1. Gross remuneration comprises of Salary, Allowances, Companys contribution to Provident Fund and taxable value of perquisites.
2. The employee would qualify for being included in Category (A) or (B) on the following basis: For (A) if the aggregate remuneration drawn by him during the year was not less than Rs 6,000,000 per annum. For (B) if the aggregate remuneration drawn by him during the part of the year was not less than Rs 500,000 per month.
3. None of the employees mentioned above is a relative of any Directors of the Company except Mr.Sunil B Mittal and Mr.Rajan B Mittal, who are brothers.
4. None of the employees mentioned above hold 2% or more share capital of the Company.
5. The designation - Director wherever prefixed describing the area of responsibility occurring in the above Statement is not a Board position except that of Mr.Sunil B Mittal.
6. There are no specific terms and conditions for employment.
7. Nature of employment for all the employees is permanent except for Mr. Sunil Bharti Mittal, Mr. Gopal Vittal and Mr. Neil Pollock which is contractual.???