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Transport Corporation of India Limited
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TCI House, 69 Institutional Area, Sector 32, Gurgaon 122207 Ph. No. +91 124 2381603 to 607 Fax: +91 124 2381611
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E-mail: corporate@tcil.com Website: www.tcil.com Fr Transport Corporation of India Limited

Annual Report 2009-10

Corporate Information

Board Of Directors

S. M. Datta TCI : Values & Vision | 1
Chairman
Vice-Chairman and MD’s Message | 3
D. P. Agarwal
Vice Chairman & Managing Director Board of Directors | 5
S. N. Agarwal Key Financials | 7
Director
Management Discussion and Analysis | 8

Contents
K. S. Mehta
Director • Finance Review | 13

O. Swaminatha Reddy Corporate Office • Divisional Overview | 15
Director TCI House, • Risk Management | 22
69, Institutional Area,
R.V. Raghavan Sector - 32, Gurgaon - 122207, • CSR | 23
Director Harayana (India)
Phone : +91 124 2381 603 to 607 • Accolades and Recognitions | 24
Vineet Agarwal Fax : +91 124 2381 611
Executive Director E-mail : corporate@tcil.com Directors’ Report | 25
Internet : http//www.tcil.com
Chander Agarwal Report on Corporate Governance | 34
Executive Director
Auditors’ Report | 48
M. P. Sarawagi Registered Office Balance Sheet | 51
Director
Flat Nos. 306 & 307,
1-8-271 to 273, 3rd Floor,
Profit and Loss Account | 52
K. Prabhakar
Ashoka Bhoopal Chambers,
Whole Time Director Schedules to Accounts | 53
S. P. Road, Secunderabad - 500003. (India)
Phone : +91 40 2784 0104
Group CFO & Company Secretary Fax : +91 40 2784 0163 Cash Flow Statement | 73
A. K. Bansal E-mail : secretarial@tcil.com
Balance Sheet Abstract | 75
Statutory Auditor
R.S. Agarwala & Company Statement under Section 212 | 76
Chartered Accountants Registrar & Share Transfer Agent
M/s Abhipra Capital Limited Statement under Section 212(1) & (8) | 77
Bankers Ground Floor, Abhipra Complex
State Bank of India Limited Dilkhush Industrial Area, Consolidated Accounts | 78
HDFC Bank Limited A-387, G. T. Karnal Road,
HSBC (Hongkong & Shanghai Banking Corporation Limited) Azadpur, Delhi - 110033. (India)
Citi Bank N. A. Phone : +91 11 4239 0708/0725, 4239 0909
Standard Chartered Bank Fax : +91 11 2721 5530

Transport Corporation of India Limited

Leading all the way
52 years of experience, a workforce of 6500, 1200 branch Values to Drive Leadership
offices, presence in four continents, world class resources,
TCI esteems and abides by CORE: Customer Focus,
savoir-faire of industry experts, innovation in systems and
Ownership, Responsiveness and Empathy- the values
processes, customer-centric approach, and the zeal to learn
that accelerate the Company’s growth. The organization
come together to move TCI to the leading position in the
makes sure that all its work, ethics and beliefs revolve around
logistics industry.
these CORE values.
The five decades of diligence and meticulousness have made
TCI aims to build mutually rewarding relationships which
the Group emerge as India’s foremost single window supply
create value for the customers. It also ensures there is trust
chain solutions provider - the Leaders in Logistics.
and transparency in the business.
The LeadershipVision TCI as an organization firmly believes that customer needs
are pivotal and has been constantly expanding and innovating
TCI aims to be a customer-oriented, multi-technology and
its services. Employees at TCI strongly believe this and work
multi-specialist transport system in Indian and International
with the passion of an entrepreneur with a great sense of
markets, with a proven commitment to excellence in every
pride and self motivation. Employees are encouraged to
facet of activity and pursuit of value-based policies to satisfy
incorporate emotional intelligence into their day to day
the aspirations of society, customers, vendors, employees,
operations and create an enabling work environment ruled by
shareholders and the transport industry.
respect for one and all.

1 2

Annual Report 2009-10

The leadership thought
VCMD’s Message
Dear Shareholders, TCI has also initiated the process for demerger of its Real Estate & Warehousing division to
form TCI Developers Limited (TDL), the latest addition to the Group.We firmly believe that
Since October 2009, Indian economy has been showing signs of revival. The current year, hopefully,
TDL has immense potential in turning our existing real estate into commercial ventures and
shall present a positive picture with the macro-environment changing considerably. Stability is evident
accelerate our vision to create ‘middle’ logistics infrastructure like multi modal logistics
in the financial markets and in business sentiments.
parks, truck terminals, free-trade warehousing zones etc.
In the year under review, Group TCI operated efficiently and responded optimistically. TCI was able
The financial year was a rewarding year for the company. The full year Profit After Tax for
to retain its leading position in the logistics industry through diligence, commitment and resolution of
the Standalone entity has increased by 51.77% to Rs. 429.8 million from Rs. 283.2 million
its employees. Besides this, the management insight and practices were instrumental in ensuring that
while the Net Sales/Income from Operations during 2009-10 has grown by 11.51% to
the economic downturn did not affect business operations and rather helped in building an even more
Rs. 14546.1 million against Rs. 13044.2 million.
stronger organisation.
The company’s consolidated revenues increased by 12.25% from
All our business divisions have undergone resilience novelty and adaptability. Each division has
Rs. 13582.8 million to Rs. 15247.2 million and consolidated PAT
brought in newer and better ways of operations.
was reported at Rs. 412.7 million.
TCI Freight expanded it’s Over Dimensional Cargo capabilities by adding more axles and heavy duty
The overall growth in each of TCI’s divisions has been
prime movers.
promising and the business volumes and profitability have
TCI XPS has introduced the Priority Service- the assured Door-to-Door day definite services for been in sync with our expectations.
both commercial and non commercial shipments to metro and non metro locations backed by a
We aim to sustain the momentum and are targeting a growth of
Money Back Guarantee Offer.
15-20% in the next fiscal.
TCI Global signed a contract with China Post for handling their shipments to India.The division has
I also take this opportunity to thank all our
also forayed into small break bulk shipments.The operations of TCI Global in Thailand were further
share holders for their unflinching support in
strengthened through a warehouse with a Daily Line Feeding activity for an auto major.
making your company a true leader in logistics.
At TCI Supply Chain Solutions, the year was marked by phenomenal growth in revenues and
profitability with the maturing of several large lead logistics contracts.

New collaborations were also seen in the Financial Year. TCI signed a joint venture with CONCOR
(the country’s largest rail container cargo mover). The core competencies of TCI & CONCOR in D P Agarwal
road and rail merged effectively into ILSPL (Infinite Logistics Solutions Private Limited) will provide Vice Chairman &
the company an ideal platform to provide a national bulk multimodal logistics solution. Managing Director

3 4

Annual Report 2009-10

Board of Directors
Mr S M Datta has more than 50 years of experience in the Mr R V Raghavan is a professional manager, with 43 years
engineering and technology sector. Previously he has served as of varied and senior-level experience in management in
the Chairman of Hindustan Lever and all Unilever Group India and abroad. A Chartered Accountant by background,
Companies in India and Nepal during 1990-1996. Mr Datta Mr R V Raghavan his career, inter-alia, in Philips, Glaxo and Voltas, of which he was
Mr S M Datta interalia holds various positions in many capacities including as Non-Executive a main Board Director and Chairman of its publicly traded
Chairman Director on the Boards of Castrol India, Phillips Electronics Independent Director associates, Wandleside National Conductors, spans over 30
India, IL&FS Investment Managers, BOC India and Zodiac years of exposure to both finance function and general
Clothing Company. A Chartered Engineer, Mr Datta is also management of operations.
associated with various management and research institutes
both in India and abroad.

Mr D P Agarwal is theVice-Chairman and Managing Director of Mr Vineet Agarwal is the Executive Director of TCI. He joined
TCI. Mr Agarwal has been associated with the transport the Company in January 1996 and has held various finance and
industry for more than 45 years. He has been contributing in management roles within the Company. In addition to these
Mr D P Agarwal transforming the unorganised logistics sector into an organised responsibilities, Mr Agarwal is the Director with Transcorp
one. Mr Agarwal holds the Directorships of Bhoruka Power Mr Vineet Agarwal International and Chairman in Transystem Logistics International.
VC & MD,
Corporation and Jai Bharat Maruti Ltd. Mr Agarwal is also Executive Director He has led the Company into high growth segments like Third
Executive Director
associated with various Chambers of Commerce including CII, Party Logistics and Express Distribution Services.
FICCI and PHDCCI. He also takes active participation in many
social and philanthropic activities for the common good.

Mr S N Agarwal has over 39 years of rich experience in Mr Chander Agarwal is the Executive Director of TCI.
various industries including logistics. Mr Agarwal also Mr Agarwal has held various finance and management roles in
serves as the Chairman of Bhoruka Gasses Ltd and Bhoruka other group companies like TCI Seaways, TCI XPS etc. His
Power Corporation Ltd besides being on the Boards of hands-on experience with Transfreight USA, a 3PL specialising
Mr S N Agarwal Kirloskar Electric Co. Ltd. and Iruppa Power Pvt. Ltd. He Mr Chander Agarwal in ‘lean logistics’ for Toyota Motor Vehicles, USA, has given
Non-Executive Director is also a member of the governing body of IIM Bangalore. Executive Director him unmatched knowledge of the Supply Chain Management.
A magna cum laude graduate in management from Currently he is spearheading Group TCI’s International expansion.
Davenport College of Business, USA, Mr Agarwal also
holds an Advance Management Program (AMP) certificate

Mr K S Mehta is a renowned Chartered Accountant in practice. Mr M P Sarawagi has been associated with the Company for
He has approximately 39 years of experience in corporate the past 46 years. He possesses rich experience in the legal
finance and restructuring, project financing, business valuations and commercial aspects of the transport industry. Mr Sarawagi
Mr K S Mehta and tax planning. Mr Mehta is the board member of Radico also serves the Boards of Bhoruka Finance Corporation of
Non-Executive Khaitan, Kothari Industrial Management Company, Blue Coast Mr M P Sarawagi India, Bhoruka Investments, Orissa Tyres, Calcutta Goods
Independent Director Hotels & Resorts, Ayurvet Ltd, Consafe Mcnulty JV Ltd and Non-Executive Director Transport Association, All India Motor Union Congress and
Consafe Engineering Services of UK. several other cultural associations. He is a Graduate in Law
from Calcutta University.

Mr O S Reddy has over 57 years of experience as a financial Mr Prabhakar joined TCI in 1978 and is currently a Whole Time
and management consultant. He is currently the Chairman of Director with the company. Prior to this, he was heading TCI
the governing body the Indian Institute of Economics, XPS, the Express Delivery division of TCI. Mr Prabhakar’s
Mr O S Reddy Hyderabad. Mr Reddy is associated with the Boards of Sagar business acumen, leadership skills and strategising capabilities
Non-Executive Cements, TCI Finance, Sagar Power, Surana Telecom among Mr K Prabhakar helped TCI XPS to achieve new heights. During his span of three
Independent Director others. He is also a member of the management committee of Wholetime Director decades in the company, Mr Prabhakar has relentlessly worked
Federation of A. P. Chamber of Commerce & Industry. for the betterment of every aspect of TCI’s business operations.

5 6

8 4. The following initiatives will also trigger the growth of the industry: Debt Equity Ratio(Times) 0.0 Industry Overview Healthy economic growth in India is increasingly supported by robust industrial Exceptional Item 29. Avg Capital Employed 5.101.9 Several initiatives and projects are underway to boost development of roads while the complex Central Sales Tax is expected to be phased out in coming years to Return on Net Worth 13.07% 13. .2 40.4 496. Annual Report 2009-10 Key Financial Ratios (Standalone) (Rs in Mn) Particulars 2009-10 2008-09 2007-08 2006-07 2005-06 OPERATIONAL Total Income 14. 92% of players are from the unorganized sector Cash profit 706.067.5 Management Discussion and Analysis Interest (net) Depreciation 195.326.54 37.3 1.53% 20.8 541.9 2.44% 23.50 form only 2% of India's road network.8 Profit before interest.92 1.91 3.2 0.2 .2 0.is also witnessing this growth as a follow through.88 0.551.93 3.8 259.80 7.290.01 145.2 510.8 168.78 traffic.8 processes and technologies.6 43. Consolidation of the comparable with the figures for the years prior to FY 2006-07 7 8 .the logistics sector .80 Impact of 3PLs Book value Per share (Rs)* 42. increased domestic consumption.2 2. 18.5 1.029.7 0.0 10.06 Interest Cover (Times) 5. *Shares of Rs. Movement of cargo on roads has several loopholes. - growth.65 1.0 3.9 2.4 431.13% welcome GST. The annual logistics cost in India is estimated to be 14% of the Taxes GDP.546. 2/. In order to avoid multiple taxation.6 267.7 5.417.1 13.132. tax & exceptional item 1.130.1 71.6 18.2 which accounts for the biggest portion (36%) of logistics spending.3 207.6 Big Hurdles In spite of the growth.4 147. 0.53 19.w. but they handle more than 40% of road freight Earning Per Share* 5.417.8 2.3 489.084.4 199.8 Opportunities ahead Total Debts 2.01 135.716.874.3 3.7 36. 12th December 2006 and therefore these figures are not service providers make use of highly modernised technologies.901.044.9 A lack of adequate infrastructure and complex taxation and regulations are big problems.329.7 268.FBT .06 145.1 are small-time players owning a single vehicle.9 1.7 Despite the limitations.To add to this the Indian taxation system is quite complex.2 12.2 371.Current 203.8 2.65 79.7 627.3 305.93% 10. industry players visualise a strong potential in the sector.982.3 2.5 990.2 284.9 82.484.710.608. In outsourced warehousing.8 103. In road transportation.43% 11.6 240. growth of the organized retail industry.f.2 18.1 449.2 “Empowered to be Leader” Profit before tax & exceptional item 676.3 185. .139.Taxes for earlier years 4.58% 17. companies typically have FINANCIAL warehousing operations in every state. The result is a large number of small warehouses across the country which are lacking in the latest warehousing Gross Block 4.Deffered 9. and the global best Return on Capital Employed 14.86 0.2 371.3 Source: Can India's Logistics Industry Deliver a Better Model for Transporting Goods? Published: September 10. Net Block 3.8 1.0 .6 12. 2009 in India Knowledge@Wharton school on line journals Net Worth 3.0 almost all industrial activities .)* 0.8 440.895.5 15.3 3.8 283.189.92 4.875. .4 .0 2. organized players have only 10% of the pie.each had been sub-divided into shares of Rs. Since timely delivery of goods is vital in the logistics business.18 8.3 46.714. Logistics is still a budding and fragmented industry in India.139.04% 25.80 0. depreciation.0 2.185.e.4 431. .5 4.43 34.11 4.This inevitably leads to traffic jams.2 109.3 2.01 tailor-made and innovative services for specific product categories as per customer requirements.0 807. 74% of operators Net profit 429. One of the relatively lesser known but significant sectors that supports Profit before tax 647.01 135.8 440.96% practices of multinationals are all expected to boost the logistics industry.659.60 2. They offer Share Capital 145.60 0.6 2. which translates into USD 140 billion assuming the GDP of India to be slightly over USD 1 trillion. National highways Dividend Per Share (Rs.60 0. 10/.27 19.092.110. The emergence of India as a manufacturing hub.08 Third party logistics (3PL) providers form a major chunk of the country’s logistics sector and play an important role in spurring the growth of the sector.7 9.6 543.83 4.9 It is estimated that while outsourced logistics accounts for 54% of total logistics spending in India.76% 14.9 742.

54% 46% the road freight industry will be growing at a compound annual growth rate GST (CAGR) of 9. There are of establishing logistics parks infrastructure. Road thereby adding value to customer solutions. standardize rates across the nation. 3PL providers have been able to tackle challenges and overcome the same by catering to customer demands.86% transportation for their services resulting in customer retention as well as 2. IT penetration 79. According to Crisil Research's annual review of the roads and highways sector published in August 2009. investment in the infrastructure National Highways sector in India is all set to grow radically. Most of the ports use Electronic Data Interchange (EDI) facility for electronic transmission of data.This business is growing at a fast pace and since warehousing accounts for about 20% Indian logistics industry. thereby further 14. Goldman Sachs. It also added that such investment would come more from the domestic market than overseas. world largest rail and road network loading to other value added services like packaging.34 million kilometers (km). In view of this. 8% Railways The advantages of Multimodal Logistics Parks are: The US$ 18 billion Indian Railways industry is one of the largest developed • MLPs will bring all services under one roof networks in the world.6 million tonnes (MT) of Unorganized Sector revenue earning freight in November 2009. Annual Report 2009-10 fragmented services is another area in which 3PL providers have excelled. service providers for seamless and cost effective transportation of their cargo through multimodal logistics parks. This has led to reduced emphasis on manpower. The Railways moved 727. labeling. considerable consolidation is expected Client Logistics Spending in the warehousing segment as companies would be able to manage bigger warehouses at few strategic locations.95% IT is a major growth driver of this sector. six under central public sector.7 trillion in the next 10 years. The introduction of Goods and Services Tax (GST) is a significant step 10% the potential investment in the sector is expected to be to the tune of US$ towards the betterment of the industry. Innovative logistics solutions have enabled conventional forwarders to use newer and improved methods of 3.docking.22% growth over Warehousing Organized Sector November 2007. two under state exporting fraternity is looking forward to joining hands with logistics governments and 19 under private sector undertakings.9% from 2007-08 to 2011-12. Outsourced Logistics Ports Organized Players (10% of outsourced Logistics) The Indian coastline is dotted with 12 major ports and 187 minor ports. IT solutions are being used for all supply chain management functions. 3.96 million tonnes (MT) of cargo in 2009-10.01% customer acquisition. the Indian 27 shipyards in the country. aggregating over delivering right products at the right time to the right place at the right cost. According to the Planning Commission. between transport modes and single window documentation make Its increasing freight business is a good reflection of the recovery of the MLP’s highly efficient as compared to traditional modes of cargo Outsourced Warehousing Indian economy.The premier transport and logistics organisation of the country is also the largest rail network in Asia and the world's second • Unwanted steps and costs in the process can be eliminated largest under single management. The modern warehouses are moving beyond traditional stocking and Source: Rail and Road . these major ports together The country’s escalating global business has attributed to the requirement handled a total of 560.com.18% optimising operational costs. The Indian Railways is the backbone of the Indian transport system. registering 9. Inhouse Logistics Multimodal Logistics Park According to the Indian Ports Association. Currently. by India has the world's second largest road network. Good connectivity. the growth will have a positive impact. It is one of the few mixed traffic systems in • These will trigger efficiency. 9 10 . carrying both passengers and freight that generates a cash and rake handling mechanized inventory handling quick change surplus. Category of Roads An overview of traditional Infrastructure which impacts Rural Roads Major District Road Logistics State Highways According to the Government of India.mapsoftheworld. mechanized truck 92% the world. bundling and cross . the investment banking company has forecasted that India's infrastructure sector would be in need of investments to the tune of US$ 1. Since GST is expected to 107 billion between 2009-10 and 2013-14.

The In an initiative taken as an innovative thought leader. TCI is now 2. given learning and career international collaborations are the constituents of development opportunities and are encouraged to maintain balance between TCI's colossal STATURE. include conducting business in report highlighted the problems faced by the transportation sector and suggested recommendations for accordance with the highest legal and ethical standards transporters and the Government as to how to mitigate the problems and contribute to the economic which involve a great deal of transparency.’ The TCI-IIMC joint study governance.the extra-edge that has propelled their competitive edge and increasing the employees’ engagement level with the TCI to the top. One Truck. 6 cargo ships.The presence of more ample opportunities to its employees for learning and growth in formal as well as informal setting. bonding and In 1958. Multi-skilled people The evolving trio of STATURE. the world class assets and Employees are also recruited at entry level positions. talent. Having branches all over the country. VDI is involved in redesigning of fleet as per the customers’ The pillars of strength at TCI are its professional set requirements and is a vital move to enable optimum utilization of resources.500 The senior management is invested with a wealth In addition to the existing systems of online tracking and e-proof of delivery. the trio becomes complete. All the business units that 430 million kilometers delivering satisfaction to all industry led forums. TCI reaches out to even the remotest corners of India. inter-alia. 6. TCI has taken a number of HR initiatives how of the TCI team consisting of industry stalwarts for the welfare of the employees. professionalism growth of India. Expertise • Online accessibility of medical insurance through company website not only listed on both the National Stock Exchange and the Bombay Stock Exchange. TCI was setup as a "One Man. involved in the functioning of the units are automated. building their capabilities and competencies.200 with new ideas. TCI along with IIM-Calcutta conducted a study on company believes that the core values of corporate ‘Operational Efficiency of National Highways for Freight Transportation in India. Singapore. camaraderie. whereas the young master minds of the Group work online on web-based software on a 24x7x365 basis. Since its inception. integrated back-end systems employees and 20. nurturing and developing human resource. Vehicle Design Innovation (VDI) and Indian Road Freight Kong.TCI believes in engaging. Stature the spirit of sportsmanship enhancing sport culture. Every year the Group’s vehicles traverse more represent the industry at various commerce and generating different. enhancing creates EXPERTISE .000 trucks and trailers the company. friendly cohesive systems. unique and decision-making reports to strengthen the process.000 strong outsourced team in India of experience and represents the core values of and processes to ensure that the Proof of Delivery with the signature of the consignee after delivery is and overseas. rather than penalizing tools. Indonesia &Thailand). TCI has implemented Business Intelligence tool for under operation and 8.45% of India's GDP of region coverage. Innovation TCI's presence is experienced through its TCI to the next level. 7.The in-house developed ERP caters to operation & And adding fuel to the rich gamut of experience and finance while PeopleSoft is implemented for HRMS & payroll management.5% The marriage between rich experience and profound • Establishment of knowledge forum to share knowledge and experience movement of India's GDP by value of cargo and extends know-how accelerates TCI's winning performance. Technology across 99. offering power to be the industry leader. e-mail or fax to the consignor.The Indian Road Freight Index up and management practices which have been is an initiative to bring in greater transparency & knowledge into this sector in India. mistakes are often considered as learning lessons developed over five decades clubbed with the know. • Organizing free medical check-up and radiology camps • Out-bound programs for team leaders for improving team effectiveness and enhancing strategic thinking The Leadership Drivers • Sports participation in Cricket tournaments & Marathons for recreation to inculcate 1. Moreover all the processes its customers contribute novelty to the Group. the meticulousness and diligence carries Team C. Internationally. Annual Report 2009-10 Empowered to be Leader A. constantly evolving for the past five decades. With the legacy of five long • Blood donation camps for inculcating social responsibilities among employees decades and discerning industry presence. corporate interaction One Office" enterprise." This is a strong belief of the business house where human GROWTH of the Group has invested TCI with the resources form its backbone. but also propels 2.5 million sq ft of warehousing space. TCI has been looking for newer and better ways of improving its systems and collaborations and subsidiaries in Asia (China. the Group observed at the end of each financial year joins the duo. than 50 years in the industry. whereas the rich experience professional and personal life. and accountability.And when uninterrupted GROWTH of organisation. fully computerized offices across the country. TCI’s Stature coupled with Expertise and Growth have led TCI to accomplish a robust and strong footing in the industry and thereby be acclaimed as the 11 12 . Being highly acclaimed they also sent by hard-copy. and innovation where industry knowledge is juxtaposed TCI's focus is on bringing the operations of the Group on a single platform in a user- Today the assets of the TCI group comprise 1. Our expertise is a composition of deep understanding B. In the recent past. Hong incorporating the latest technologies. Index are two such innovations at TCI. Here.This emphasis is continually upgraded with the changing times. EXPERTISE and "Every individual has unlimited potential.

05* 449.546.500.979.5 200.0 4.714. April. The Company substituted high. TCI was able to retain its growth through Total Cost 1200 good management practices. 101. 2009 was Rs.7 350.0 12.11% on purchase of land.0 3.0 6000 8. interest cover increased from 4.0 250.0 50.3 Revenue (Rs. in Million) Net Worth (Rs.83% while the net profit margin increased by 78 basis points.07 .044.067.0 2.000.0 300.0 1.25/ share and shot up to Rs.2 2. 185 million in 2008-09 to Rs. acquisition of trucks & axles and IT of 298%.77% and EBIDTA increased 15.484. instruments.2 9. the operating margins are expected to strengthen on the back of an increasing share of 1st April.0 305.0 16.0 2000 1139 2.7 EBITDA (Rs.326.000. Growth: Finance Review Cost analysis Capex in the last four year In spite of the Logistics Industry showing revival only in the later half of 2009.8 268.78% As a result. 12. subsidiaries – rates of around 5-6%. Margins reflected in 2009-10. increased 11.08% proportion of revenues decreased from 1. clearing and forwarding charges.029. Investments RONW (%) 13. in Million) Net Profit (Rs. 14506.20 30.500.19 51. Return on net worth and capital employed has also improved significantly over last year.50 million in 2008-09. like short term/working capital demand Rs.60 million in 2009-10 from Rs. 2006-07 2007-08 2008-09 2009-10 PAT 429.26 million in 1000 2008-09 to Rs.93 10.93 3.000.77% 417 400 Interest EBIDTA 1139. in a hub centers. SCS and Seaways.1 2.96% and series of measures taken by RBI to ease out the (after exceptional items)* liquidity position resulting in a sharp decline in interest 0 rates following Interest outflow decreased by 18.0 6.895.83% in 2009-10. 663 million during the year. giving a return following operating and other costs optimisation priorities. 2009-10 increased freight. 357 million in 2009-10.0 9140 14.76 14.000. The EBIDTA margin increased by 24 basis points to 7. 16000 14546 14000 13044 12029 Total Income (Rs.96 15. in Million) 12000 10896 3.75% in 2009-10.000.0 500. 2009 and increased to 17527 on 31st March.6 10000 14.139.This increase was however 600 lower than the revenue increase for the year under review. We are Total cost (excluding depreciation.44% in 2008-09 to 7.61 543. interest and tax) 998 committed to grow our business and increase our customers’ confidence in us.11% in 2008-09 to 5.0 400. in Million Cash profit 706. 34. 29 million was made on account of full and final settlement of derivative TCI share v/s BSE sensex: TCI’s share price as on The Company has incurred a capital expenditure of transactions. Return Capex despite under exceptional item a sum of Rs.000. following enhanced marketing in India and abroad across existing and new clients as well as the robust growth of Supply Chain Solutions (SCS) and Express (XPS) divisions.67% 09 to 1.8 3. 2010.000.000.0 284.0 2. interest cost as a Rs. Whereas BSE Sensex was at 9900 on 1st challenging year.000.81 283. 12054.084. Revenue analysis TCIL Standalone financials for Five years The Company’s revenue outperformed India’s GDP growth and increased 11. 2010. Revenues increased 11.500.8 4000 150.0 743 808 990 628 0 9 0 9 0 9 0 08 8 8 6 6 6 7 7 07 -0 -1 -0 -1 -0 -1 -0 -0 -0 -0 -0 -0 -0 2005-06 2006-07 2007-08 2008-09 2009-10 - 6- 08 09 08 09 08 09 07 07 07 05 05 05 06 06 0 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 13 14 .0 100.11% On account of an improvement in general economy 200 PBT 647.3 283. which resulted in a declining trend of operating costs.979. loan and non-convertible debentures with low coupon owing to investments in joint ventures.71%.0 500.90/share on 31st March. 459 Revenue 14506.43 - cost working capital limits with short-term The Company’s investments increased 92.000.0 1.22% from Rs.34% from ROCE (%) 14. construction of warehouse and Rs.55 989. the benefits of which has been domestic & overseas and partnership firms. in Million) 12. This was mainly spent higher-margin businesses like XPS.0 1.0 13. Going ahead.0 8000 10.0 1.000.85% in 2008- EPS 5.0 429. giving a return @ 77%. Annual Report 2009-10 3. in Million) 10.45* 43.63 million in 2009-10 owing to Performance. 13406.77% to Rs.1 450.63 12.91 51.34% in 2009-10 and also average debt cost decreased significantly from 10.50 11. upgradation. 800 stores and spares parts consumed among others but 663 Year 2009-10 (Rs Million) 2008-09 (Rs Million) % change in line with business growth. effective cost control measures and value additions in the service portfolio.

transportation when it comes to reaching the corners of India. Annual Report 2009-10 The Leadership Mix Stature The largest division of Group TCI is the nation's leading Surface Transport reaches the next level with TCI surface transport organization. VPU TCI XPS offers door-to-door pick up and delivery at for full rake and leased out special parcel trains 13. Parcel / Project & Over Dimensional Cargo and Rail. Indonesia. service it offers to the customers.88% more as compared to Every year the division’s vehicles traverse more than last fiscal while the profit after tax was up by 17. 5000 • Commencement of Point to Point Service for Small Parcel 4000 • JV with CONCOR. No wonder TCI Freight. with 2182 strong workforce • Extensive fleet ranging from hydraulic axles. the manpower. powerful office and rail network. in Million) Singapore. • Computerized and interconnected offices supported by GPS-enabled vehicles Growth • 24x7 online track-and-trace system and a Overview of the FY 2009-2010 revealed revenue dedicated customer care centre growth of approximately 5. Mauritius and the Netherlands. With its extensive and Freight. extensive fleet and efficient hub-and- The world is home to TCI Global. Thailand. this division delivers a sustainable solution as a Lead 293 million kilometers delivering satisfaction to all its The results overall for fiscal was encouraging. 7273 6896 established TCI as a global SCM organization by providing In the FY 2009-10 the new initiatives and service were 7000 6571 seamless freight forwarding. custom clearance and full taken up by the division to intensify its existing 6000 5736 strengths. ft. The division expects to grow at 10-12% with a focus on long distance transport via rail owing to cost Expertise competitiveness. quicker turnaround and timeliness.83%. Logistics Provider with services that cover designing customers. • A robust rail network covering VPH. TCI Freight provides an entire range of biggest unit of Group TCI is India's major surface transportation solutions for Full Truck Load / Small transport provider. re-engineering for Outlook TCI Freight is ISO 9001:2008 certified for the quality of an existing one and putting the designs into practice.000 sq.TCI Seaways' services encompass 1000 transporting container and bulk cargo from Ports on focus on power and infrastructure sectors 0 the East Coast of the country and Far East destinations. India's largest rail cargo 3000 mover for container transportation via rail 2000 • A modern fleet of Goldhofer Hydraulic axles to As a sea cargo division. TCI Global ahead in the race. or strategically located branch network and trained of any product segment. spoke model have equipped TCI Freight well to be 8000 Germany. This TCI unit enjoys the acknowledgement as the multi-axles and prime movers to all kinds of foremost door-to-door Express Distribution Specialist. heavy and volumetric cargo. China. Setting up offices in TCI Freight Revenue (Rs. The division enjoys: • 642-strong office network and 25 hubs with an average space of 25. Right from conceptualization to implementation. supply chain for an all new company. Hong Kong. • New Hydraulic Axles enabling the company to 2006-07 2007-08 2008-09 2009-10 move single ODC package upto 500 tons 15 16 . a suitable match for cargo of any dimension. SLR.000 locations across the country. The single-window surface transportation service for general.

The business unit has also launched the E-Gifts Product Healthcare and Cold Chain through: to deliver cakes. workforce of 1230 employees With its extensive network. chocolates. feeder booked from anywhere in the world for delivery in • A network of 230 offices and a skilled and service en route vehicles 9 major cities in India. environment. flowers etc.TCI XPS ensures delivery In order to reduce damages and enhance time • Diverse and specialized fleet of 1240 vehicles to 13. warehousing • Value Added Services and multimodal transportation TCI XPS Revenue (Rs. apparel and The proficiency of TCI XPS lies in: TCI XPS looks forward to growing at the rate of 15-20 telecom businesses. Life Sciences & of 15. inventory. Hindustan 1500 1447 Unilever. TCI SCS has acquired the leading position in the supply revenue growth at 124% higher as compared to the deliveries in an endeavour to promote a cleaner chain segment owing to: last financial year. Priority Service is an assured Door-to-Door day 2000 1131 Proctor & Gamble. Hyundai.The division enjoys: Logistics and Supply Chain solutions encompassing all • A network of 550 branches and 2300 strong the needs of a value seeking progressive client – right workforce from conceptualization to implementation. Hero Honda. Retail & CP. in Million) TCI SCS Revenue (Rs. CEAT. online track & trace of shipments facility and providing Expertise in revenue and the profit after tax outpaced TCI XPS has also inducted CNG fitted LCVS for in city e-proof of deliveries. • A KAM team to provide Single Window solutions 49% which was again another success story for TCI XPS. automated and with the warehousing space it ensures well 8. TCI SCS expects to concentrate more on Outlook • Domain know-how of 1230 highly skilled recession-resistant segments like warehousing as well Expertise individuals and dedicated fleet as developing and/or acquiring hi-tech. An in- house team of Supply Chain Analysts blend the clients • A strong fleet of 1930 vehicles. scientifically and professionally managed warehousing space from 8. pharma.3% in terms of revenue and Profit After Tax was up by The division expects to grow at 30-40% annually. Samsung to name a few) definite services for commercial & non-commercial 1500 1000 shipments to metro and non- 1000 metro locations which is also 500 backed by Money Back 500 Guarantee scheme. 2500 (Bajaj Auto. GM. It also aims to increasing its % in the next few years and will be focusing on high • Competency to operate on shorter product life • Customer Relationship Management cycles. in Million) 4500 3000 • Diverse Customer Profile • Strategic benefits from collaborations with other 4000 3860 • Large Company owned Network & Reach companies. GPS enabled vehicles have been deployed.5 million sq. Café Coffee Day.5 million sq. 17 18 . supplemented with state of the sq ft by 2011-12 to serve a larger number of clients. • Key Account Management art material handling equipment. The division is ISO 9001: 2008 certified Growth • Experience in offering complete services bouquet for the quality of service it provides to a large Outlook The growth of the division in the last fiscal has been right from conceptualization to execution customer base from sectors like automobile. Anticipating the future and aiming to be more consumer goods etc. ft. across industry segments and services sustainable. chemicals. TCI SCS caters to key industries like • 12 strategically located hubs with an average space Auto. to 10 million growth industries for new business acquisitions. Hi Tech. In addition connected routes for timely and cost effective cargo to it. of warehousing space ? Growth handling equipments at hubs were installed. Maruti.‘Priority Service’.000 locations in India and 203 countries abroad management in loading and unloading. ITC. professional team management 2500 2478 3470 3500 3224 and adequate safety measures TCI XPS offers to its customers a guaranteed time 3000 • Associations with brand enhancing clients 2000 definite delivery for their critical shipment through a 2633 1680 new scheme called . that can be • A large fully containerized fleet of Express. Annual Report 2009-10 Stature Stature TCI XPS is India’s foremost door-to-door Express Supply Chain Solutions is a Single Window enabler of Distribution Specialist. computer peripherals. electronics. which helps the objectives with a Supply Chain Design – be it a new division in managing the wide array of domestic as organization or an organization seeking to re-engineer well as global delivery requirements of the industry its supply chain. ft.000 sq. Telecom. offering The division registered a blistering growth of 48% consolidation and transportation. 11. ft.The service 0 0 is available from 9 cities to 150 2006-07 2007-08 2008-09 2009-10 2006-07 2007-08 2008-09 2009-10 Locations across India.

aspires to become more aggressive and innovative to taken up by the division to intensify its existing score more. with the Kong. TCI Seaways is ISM certified and also has an ISO undertakes Project Cargo and break bulk services. 19 20 . Exclusive contract with China Post for handling ? Outlook their India bound shipments TCI Seaways plans to expand its fleet by acquiring The division’s other new venture includes the ? another vessel in FY 2010-11. Hong new era for the parent company .TCI. Results ended up with a marginal drop in strengths include revenues and profits for the year. ship management delivery of high value shipments or seamless supply and chartering services and expects to register a chain solutions TCI Global has always fulfilled the aim 15-20% annual growth with the new ship addition.The company to mark its footprints by expanding its horizons to has 1200 TEU containers and five vessels named: other parts of the world. logistics industry in Brazil. 3PL and freight Freight forwarding services ? forwarding. Expertise The division has specialization in providing The division has extensive knowledge and vast comprehensive services as Outlook experience in services that encompass transporting Complete capability of Air and Sea Freight services ? container and bulk cargo from Ports on the East Coast The TCI Global subsidiaries in Germany. of providing superior services. • MV TCI XPS TCI Global offers freight forwarding & customs • MV TCI Arjun clearance activities from all its domestic and international offices through: • MV TCI Shakti • 14 domestic offices • MV TCI Lakshmi • 12 international offices • MV TCI SURYA Growth The division is backed by a team of 115 people who • Agent network in 160 countries Domestic: The division witnessed a setback in terms deliver services to the clients. It heralded the dawn of a has set up operating subsidiaries in Singapore. it In the FY 2009-10 the new initiatives and services Domestic and Global and doubling its revenue. It plans to enter international Be it meeting crucial deadlines. Indonesia. of growth in the revenue compared to that of last year TCI Global caters to various industry verticals and also due to various reasons and it fell short by 20%. It has diverse cargo • Team of 115 professionals handling capability and an accident free record. Malaysia and of the country and Far East destinations. The division also intends commencement of a warehouse in Thailand with a to expand its service to Myanmar and Thailand and Daily Line Feeding activity for an auto major enter other routes. service especially in the mining sector. The Division is also looking forward to Growth End to end global supply chain solutions ? reaching break even in terms of profitability for both Though the division had a tough phase this year.The division plans territories having extended even further.Thailand and China. International: The revenues and volumes for overseas operations of this division increased manifold Expertise in the year under review with anticipated startup losses. Annual Report 2009-10 Stature Stature TCI Global provides complete Logistics & Supply TCI Seaways started as an independent sea cargo Chain Solutions across boundaries and with this aim company in February 1995. express movements of cargo. ensuring on time business with larger tonnage vessels. Its expertise International ? express door-to-door delivery Brazil are ready to tap emerging opportunities in customer orientation is also noteworthy. 9001:2008 certification.

This mix helps to minimize such risks. six revenue this financial year. business chain management.000 employed is steadily increasing with a 3% growth in outbound transportation of complete built units sectors like auto.The profit for this year took (CBU) & spares.: the customer-centric KPIs align service levels with Transystem International is a joint venture customer aspirations. will develop every individual property on supply chain management. Effective Risk Management that includes • TCI Ann Sofie Scan APS : to shift towards shorter transaction cycles. thereby addressing investors' Joint Ventures process re-engineering and by imparting training to industries. 7.5 million sq ft of warehousing. who is ably supported by a running a single ship based out of Denmark for with a predefined responsibility and accountability at team of risk officers in each business division. he/she reports it to the concerned Infrastructure Risk risk officer who in turn conveys it to the CRO. engineering. etc. Power Division of TCI is dedicated to offering quality. Besides movement in any particular industry. location and feasibility as a industries. the senior management and on a quarterly basis. various levels.The Company identifying of risks and mitigation is conducted by the This is a JV between TCI and Scan Trans Denmark. in which TCI has Definition: Economic Slowdown may hamper proposed to demerge its real estate and warehousing company's performance. human assets helps to cope with this kind of risk. The demerging of the real estate & warehousing Business Concentration Risk business of TCI will also enable the new company to Quality Risk Definition: An excessive dependence on one line of raise adequate funds for its development plans on the Definition: Poor Service may increase competition business can threaten viability in the event of a sectoral strength of its future profitability and growth plans. downturn. risk. has an in-built process of credit approval and monitoring Chief Risk Officer (CRO). catering to a wide range of respective businesses. Once identified.200 fully computerized offices management.000 trucks and trailers under operation country. Ltd. business to have greater efficiency and synergy in Risk Mitigation: TCI provides services in all aspects of operations. its employees at all levels on regular basis. Every TCI employee has the right to identify risk. catering a wide range of the basis of its size. the continuous endeavour is management. telecom. Annual Report 2009-10 OTHER DIVISIONS and Risk Management Joint Ventures Real Estate & Warehousing Division Industry Risk TCI Developers Limited (TDL). from inbound could do the damage in the event of a downturn. Distribution Risk Wind Power Division between TCI and Mitsui & Co Ltd. Besides it continuously keeps a watch on the residential and/or commercial project. and 8. and chemicals from all geographical locations in the cargo ships. and occurrence probability. Other projects economic environment and timely actions are taken to would include state-of-the-art multimodal logistics focus on the relevant segments of business as well as parks. Ltd. The division's return on the capital transportation from suppliers across India to Risk Mitigation: TCI has customers across diverse across the country. locations through its 1. • Transystem International Pvt. The Risk Risk Mitigation: TCI's policy keeps overall cost Register is brought under the scanner periodically by control for the replacement of its ageing fleet. the Wind sole logistics partner for Toyota Kirloskar Motors Customer Concentration Risk affect growth. • Infinite Logistics Solutions Private Limited (ILSPL) : Liquidity Risk Risk Management Model A JV company with CONCOR for bulk Definition: A delay in receivables could stretch the The strong and well thought-out risk management multimodal logistics solutions by rail and road. areas of operations. pharmaceuticals strong outsourced team in India and overseas. Continuous investment in new fleet and training the presented to the Audit Committee. This helps to tide over any cyclical concerns. truck terminals.The risks are then mapped in terms of mitigation action to be executed. These help to sail through the unfavorable economic conditions. The company has been providing Definition: Over dependence on a few customers Risk Mitigation: TCI provides services at over 3000 timely and economical wind energy project complete logistics solutions. in India. which is the Definition: An inadequate distribution network can With an installation capacity of 11. 21 22 . TDL in future will raise funds through strategic and financial investors and institutions.500 employees and 20. system of TCI extends its roots in every layer of Risk Mitigation: At TCI.5 MW. Company's working capital resources. project cargo movement. 6. retail. Definition: Profitability might hamper with an increasing The Risk Register is used for reporting the risks fleet age since it results into repair cost interest and which are further classified in terms of their impact depreciation. The proposed Risk Mitigation: TCI continuously upgrades its Risk Mitigation: TCI is in almost all vertical of supply demerger will create two entities focusing on their services through technology up-gradation.

common forum for social mobilization leading towards (NACO). Himachal Pradesh and even Nepal through its various camps. The period HIV/AIDS Awareness Workplace Policy Best Logistics Service Provider in Automotive segment under review (2009-10) has been a good year in TCI is one of the few corporates in India with a well terms of new initiatives. in collaboration with DAV Ranchi. has touched the lives of 2500 to do good” disable people coming from Bihar. The centre provides artificial limbs. Orissa. the Group's existing policy on the issue was In the remote Gobindpur in Khunti district of added up with two new clauses: Jharkhand. Logistics & Supply Chain Award “To me life means one long Since its inception in May 2008 till March 2010. The philosophy of Shri P D Agarwal stands as the foundation for TCI's every philanthropic activity that has aimed to usher in a better world. The intent is to facilitate awareness and prevention of HIV/AIDS in India and Apollo CV Award the underprivileged communities in learning new works with agencies as Bill & Melinda Gates Foundation The Apollo CV Award 2010 in Large Truck Fleet Operator of the year was skills. a vocational training centre has been TCI Foundation is actively involved in spreading launched in February 2010. crutches and calipers for free to the economically Founder. The principal social dialogue on HIV/AIDS” aim of this school is to provide quality education to the TCI Supply Chain Solutions bagged the Best Transport Service Award disadvantaged children. TCI Group. located in the tribal belt Jharkhand's Khunti district. a venture This is for the third time in a row that we have bagged the ELSCC Award. Bengal. • “There would be no gender discrimination in the presented by Whirlpool. A bank of 70 master trainers manages the this period were: HIV/AIDS awareness programmes that have already covered 1200 employees in 48 training programmes. Assam. dissemination of information on HIV/AIDS and its VocationalTraining Centre treatment” In view of benefitting the students of our TCI DAV Programme forTruckers Public School. with BMVSS of Jaipur. TCI runs a school. deprived people. TCI TCI received the Best 3PL Express. which was initiated in • “We will create an enabling environment for a Best Transport Service Award 2005. The campaign with BMGF called Project empowerment. which are being planned We were acknowledged by Frost & Sullivan as the Best Logistics Service defined workplace policy on HIV/AIDS adopted in Provider in Automotive Segment. improve the existing ones and provide a (BMGF) and National AIDS Control Organisation bestowed on TCI. In TCI DAV Public School early 2010. opportunity to be good and Jaipur foot and rehabilitation centre in Patna. and executed. Some of the major projects during 2005. 23 24 . Annual Report 2009-10 Humane Side Accolades and Recognitions of the Leader: CSR Artificial Limb Centre Best 3PL Express. Recognition from ILO The International Labour Organisation (ILO) acknowledged us for the leadership provided in successful implementation of HIV/AIDS programme. Logistics & Supply Chain Award 2009. The late Shri P D Agarwal. Amity Corporate Excellence Award in Cargo transportation The Amity International Business School & AGBS awarded us the Amity Corporate Excellence Award in cargo transportation.

3 29. 0. in Million) The consolidated financial statements are prepared in compliance with the Accounting Standards and listing Agreement as prescribed by the SEBI and include financial information of its subsidiaries and joint venture Particulars Consolidated Standalone companies. thereby taking the total . nine companies were added as the subsidiaries of your company.0 517.4 551.0 0 During the year. Appropriations: Subsidiaries .5 16.0 29.7 9. Shareholders who may be keen of getting Annual Accounts of the Company’s Subsidiaries may obtain it upon request.6 259. Further.7 242.1 449.02) 0. The annual report and accounts of these companies will be kept for inspection at your Company’s registered office.4 159.Tonnage Tax Reserve 12.605 Equity Shares to the employees of the company who have Less: Provision for Tax – Current 226.2 De-merger .1 0 18. .2 Andhra Pradesh.7 As members are aware that the Company is de-merging its Real Estate and Warehousing Division and vesting Profit after Tax 417.Deferred 8. 676.9 9. 2/.each held in the Company on the Record Date to be announced in Profit available for appropriation 624. 2009-10 2008-09 2009-10 2008-09 Income 15247. - Add: Balance brought forward 211.8 72.3 approval in previous years. 14.2 13582.51% over the last year. 13044 million in the previous year registering a growth of 11.0 12.6 267. 0.4 well as the extent of holdings therein are provided in a separate section of the Annual Report.2 211.60/share) subject to the approval of Shareholders at the Depreciation (Net) 296.1 Post de-merger. which include the financial information of the subsidiaries of the Company has been prepared pursuant to the provisions of Accounting Standards (AS) – 21 issued by the Institute of Chartered Accountants also forms part of the Annual Report. 0.4 into TCI Developers Limited (TDL) subject to the requisite approvals including from Hon’ble High Court of Taxes for earlier years -4. directors / auditors report and other documents required to be attached under section 212(1) of the Companies Act.The financials of the subsidiaries of the Company have been provided in a statement pursuant to Section 212 of the Companies Act.582 million in the previous year. The de-merger will be effective from 1st April 2010. Keeping in view the improved performance.2 40 Profit before Tax 652. the said documents are not being attached with the balance sheet of the Company. On standalone basis.2 13044. 67.Dividend Tax 10. 2010.80 per share (Previous year @ Re.The financial details of the subsidiaries as .Proposed dividend 32. every Shareholder of the Company will get 1 (one) Equity Share of Rs. Bombay Stock Exchange Limited and National Share of (profit)/loss transferred to Stock Exchange Limited.8 14546. 0.8 balance sheet of the Company.5 million of the last year.7 7.2 511. 681.247 million during the year under review against Rs. 1956. The total payout including dividend tax works out to Rs.2 40. for the year ended 31st March 2010.5 283.2 0.7 195. Depreciation.4 million while it was Rs. 14.5 16.6 -0.3 75.7 -0.3 million against Rs. on a consolidated basis achieved total revenue of Rs.7 The Board has also recommended a final dividend of Re. 489. Hyderabad.5 number of subsidiary companies to twenty-one as on March 31.4 75.9 70.56.6 355. Annual Report 2009-10 REPORT OF THE DIRECTORS Business Results To the Members.Interim dividend 29. Less: Interest (Net) 191.9 505.2 Dividend Profit before Interest.6 seeking an exemption from attaching the copies of balance sheet.16% stood at Rs.50.each in TDL for every 20 (twenty) Equity Shares of Rs.5 -0.3 185.50. minority interest (0. with which the shares of the company are listed.e.8 203.5 Change In Paid Up Capital Less: Exceptional Item 29.0 0 29. 14.3 75.2 296.4 147. 551 million during the previous year.0 The Company has applied to the Central Government under Section 212(8) of the Companies Act. . profit and loss account.6 350 212. In-principal approval to the Scheme has since been granted by both the stock exchanges i.4 -4.5 990.Accordingly.3 489.0 517.6 240.40 per Taxation & Exceptional Item 1169. your Company posted total revenue of Rs.2 333. Profit before Tax & Exceptional Item 681.0 434. 25 26 .0 676. TCI Group.77 million. 13. 1956. the said approval is expected shortly.6 355.0 share. 15. 10/. .General reserve 350 212. Consolidated profit before tax & exceptional items of the group FINANCIAL RESULTS for the FY 2009-10 was Rs.280 to Rs. The Company had been granted such 624.490 pursuant to allotment of 22. your Board has already declared an interim dividend of Re.546 million as compared to Rs.2 exercised their stock options under Employee Stock Option Scheme 2006 Part-I. the consolidated financial statements.The profits before tax & exceptional item at Your Directors are pleased in presenting the 15th Annual Report and the audited accounts of your Company – a growth of 38.5 During the year under review the paid up capital of the Company has been increased from Rs.8 ensuing Annual General Meeting.FBT 0 19.9 505.4 7.40 per share aggregating to the total dividend for the year @ Re. which forms part of this Annual Report.3 1139.3 due course. 1956 to the Balance carried forward 189. (Rs.3 1090. standalone as well as Consolidated.0 43.11.03 .0 647.

offer themselves for re-appointment. Chartered Accountants. in Gobindpur in Khunti district of Jharkhand state. hence are given treatment & medicines free of charge. The patients visiting in the two remaining dispensaries are very poor. for auditing the accounts of the TCI Seaways Division of the Company for the financial year 2010-11. Chartered Accountants. Himachal Pradesh & Birgunj (Nepal) through the The Company has received letters from them that their reappointment if made. Datta. Coimbatore and Portblair. the truckers programme for mainstreaming and scaling up the trucker’s intervention to the national HIV prevention programme (NACP-111). Raghavan.The main objective behind further comments. Public Deposits stood at Rs. limits u/s 224(1B) of the Companies Act 1956 and that they are not otherwise disqualified within the meaning of section 226 of the said Act. 5. N Agarwal and Mr R. and the Articles of Association of the Company. the Branch Auditors for branches situated in limbs. Other than the people of Bihar.V. School in the remote area of Khunti District. upgrade the existing ones and also to An outside agency of repute was engaged to measure Employees Satisfaction Survey and the outcome thereof is provide a common forum for social mobilization leading towards empowerment. 0. offer themselves for re-appointment at the ensuing Annual General Meeting. Bangalore are proposed to be appointed as the Branch Auditor as far as their physical movement is concerned. Staff training & development has been given special thrust to ensure people development. Ahmedabad. which went off Royal Kingdom of Nepal are retiring at this AGM and being eligible. 1988. TCI Foundation (TCIF). TCI has Human Resources lately entered into an agreement with DAV Ranchi in the year 2008 for the proper running of the school. people who were earlier working have got back to work. Directors are retiring by rotation at this meeting and being important ones were the starting of a vocational training center in the campus of our school—TCI DAV Public eligible. The Corporate Human Resources department is committed to improve employee satisfaction at all levels and create a motivated.48 million.08 million have matured As per the requirements of Clause-49 of the Listing Agreement.e. track because of disability struck due to accidents. Functional specific training programmes are being organized throughout the year at various locations facilitating maximum participation. annexed to this report. A statement of disclosures pursuant to Clause 12 of SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines 1999 has been annexed with this report. Auditors And Auditors’ Report Artificial Limb Center M/s R S Agarwala & Co.. Kolkata hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment. We are providing training in quite helpful to make amends wherever necessary. In May 2008.000 options were granted by the Compensation / Remuneration Committee in its meeting held on population. HIV/AIDS Awareness Programme Employee Stock Option Scheme TCIF runs KAVACH. National AIDS Control Organisation has contracted TCIF as the technical Support Group (TSG) to 21st May 2009 to the deserving employees.. The year under review has been an encouraging one in terms of new initiatives planned and executed. The programme had focused interventions in 15 largest impact locations on the major routes along the national highways Your Company has introduced Stock Option Plans to reward and retain best talent.The intervention has impacted several lives. shall be within the prescribed various camps that have been organized. TCI’s HIV AIDS Workplace Policy TCI is one of the few Corporates in India with a well defined workplace policy on HIV/AIDS. West Bengal. After receiving the service. Jharkhand. Till recently TCI was running dispensaries in three locations i. The intent behind starting the center was to facilitate the communities in the tribal belt to learn new skills. opening the school was to provide and reach quality education in remote areas. which have low or no accessibility to quality education. computers and beauty culture. The Auditors certificate on compliance under Corporate Governance is also annexed. crutches and calipers to the poor free of cost. responsive and accountable organization. Chartered Accountants. TCI in collaboration with BMVSS. During the year under inspired by the programming approach of Kavach in arresting the spread of HIV among the vulnerable review 108. the center has touched the lives of more than 2500 people. Orrisa. 27 28 . Directors Corporate Social Responsibility In line with the provisions of the Companies Act. a separate report on Corporate Governance is and remain unclaimed. TCI DAV Public School The Notes on Accounts as referred in the Auditors’ Report are self-explanatory and therefore do not call any TCI started a school in year 2005. sewing. The various CSR activities are run by Group TCI’s social arm. There have been no overdue deposits. an awareness programme on HIV/AIDS for the long distance truckers. illnesses etc. gender discrimination. children have become mobile and leading lives of less or no dependence M/s R S Agarwala & Co. Kathmandu. out of which Rs. It was decided to close down Ahmedabad dispensary after the findings of an internal survey showed that enough Statutory Disclosures interventions have been introduced by the State Government in the area. Since the time the center became operational till March 2010. M. Mr S. It provides artificial M/s K B Chitracar & Co. our center has provided benefit to people of Assam. the relevant information and data is given in the annexure hereto.As of now we have 113 women and girls enrolled for various trainings. 1956. learning. sharing of Dispensaries knowledge and best practices. Bhagwan Mahaveer Viklang Sewa Samiti in Jaipur started an artificial limb center namely “TCI Jaipur Foot and Rehabilitation Center” situated in Patna. Annual Report 2009-10 Public Deposits Corporate Governance Report As on 31st March 2010.. Presently the school is upto 8th Standard beginning from Nursery. The policy was Management Discussion & Analysis Report adopted in 2005 and was revised it in January 2010 by incorporating two new clauses on social dialogue and Management Discussion & Analysis Report is annexed to this report. Your Board continues to consider human resources as the most valuable asset in our organization and endeavor VocationalTraining Center is to retain and develop its human resources. As required by the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules. TCI has started a vocational training center in its school campus in February 2010.The most Mr S.

Financial Institutions. I also thank my colleagues on the Board for their timely guidance & support extended to me. existing standards. in the preparation of the annual accounts. (ii) The Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the (ii) These statements together present a true and fair copy of the Company’s affairs and are in compliance with Company as at 31st March 2010 and of the profit of the Company for the year ended 31st March 2010. from the employees of the Company. if any. ended 31st March 2009 and the cash flow statement for the year (consolidated and unconsolidated) and that to the best of our knowledge and belief: - (i) The Company has. to the best of our knowledge and belief. banks. Bansal Vice Chairman & Managing Director Group CFO & Co. A module on The Board of Directors HIV/AIDS awareness programme has been developed which is integrated with the overall training programmes of the TCI Group. and Particulars of Employees (iii) That there were no instances of significant fraud of which we have become aware and the involvement therein. Actual results may differ substantially or materially from those expressed or implied due to risk and (ii) That there were no significant changes in accounting policies during the year and that the same have been uncertainties. Datta Dated: 19th May 2010 Chairman 29 30 . Agarwal A. 1956 for safeguarding the assets of the Company the year that are fraudulent. Transport Corporation of India Ltd. 1956. CEO/CFO CERTIFICATION During the year under review. D. Audit Committee. (iii) The Directors had taken proper and sufficient care for the maintenance of adequate accounting records in b) There are. deficiencies in the design or operation of internal controls. Y. of which we are aware and the steps we have taken or propose to take to rectify these deficiencies. operates. P. Customers and Shareholders of the Company. Secretary For & on behalf of the Board Place: Gurgaon (Haryana) Place: Gurgaon (Haryana) Dated: 19th May 2010 Dated: 19th May 2010 Place: Gurgaon S. M. e) We further declare that all members and senior managerial personnel have affirmed compliance with the Acknowledgements code of conduct for the current year. control system. K. On behalf of the Board of Directors. the Directors confirm that: a) We have reviewed financial statement for the F. 1956 (“the Act”) read with Rules framed there under. Annual Report 2009-10 TCI has a bank of 70 Master Trainers who provide awareness programmes on HIV/AIDS to the staff at large. and for preventing and detecting fraud and other irregularities. For Transport Corporation of India Ltd. Regulatory bodies. if any. followed the applicable accounting standards along with proper explanations relating to material departures. illegal or violative of the Company’s code of conduct. Gurgaon (Haryana) Directors’ Responsibility Statement This is to certify that: Pursuant to Section 217(2AA) of the Companies Act. of the management or an employee having such significant role in the Company’s internal As required under Section 217(2A) of the Companies Act. the requisite details are set out in the annexure to this Report. as amended. Cautionary Statement d) We have indicated to the auditors and Audit committee: Statements made in the Management Discussion and Analysis contain certain forward looking statements based on various assumption on the Company’s present and future business strategies and the environment in which it (i) About significant changes in internal control during the year. whenever applicable. applicable laws and regulations. (i) These statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading. if any. disclosed in the notes to the financial statements. Your Directors would also like to take the opportunity to express their appreciation for the dedicated efforts For Transport Corporation of India Ltd. 1200 employees have been covered in 48 training programmes. c) We accept responsibility for establishing and maintaining internal controls and that we have evaluated the (iv) The Directors have prepared the annual accounts for the financial year ended 31st March 2010 on a going effectiveness of the internal control systems of the Company and we have disclosed to the auditors and the concern basis. no transactions entered into by the Company during accordance with the provisions of the Companies Act. I would like to place on record my deep appreciation to all the Government Authorities.

Date of Previous No Qualification Nature of (Rs.TCI SCS Division 10. TCI SCS 2. Com TCI Freight Steels Ltd. Bhatia. Number of options vested 30.000 10. Mr H. LLB. one year. CEO . P.225 0 Duties Yrs.81 97.04.TECHNOLOGY ABSORPTION. Money realised by exercise of options 1. • The Company has propagated the use of energy and environmentally friendly railways and moved more than 300 full train equivalents in the last fiscal. Disclosure as required under SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines. • Periodic training and sensitization is given to drivers to increase their efficiency by safe and intelligent CA. in Million) in Commencement Employment/ h.TCI Global Division 10.000 (Rs. FOREIGN EXCHANGE B. Director Manager.000 B.000 - Foreign Exchange Outgo 318. 6. Total number of shares arising as a result of exercise of options 22. in General EARNINGS AND OUTGO Business Management Conservation of Energy and Research & Development: Administration The Company continues to strive for infusing such procedures in its operations so as to achieve & conserve 4. ABC India Ltd.017.000 10. Number of options granted 100. Tyres Ltd.TCI XPS Division 10. CEO .000 10. P.6 45 10.605 - Foreign Exchange Earnings 98. Annual Report 2009-10 ANNEXURE TO THE DIRECTORS’ REPORT 3 Chander 31 Executive 13.605 - B. CEO.71 31 01. in Million) b. are done to ensure a low average age MBA Apollo of the overall fleet. • Regular replacements of older trucks. B. 1956 and the Companies (Particulars of Employees) Rules. Variation in the terms of options NA NA Sl Name & Age Designation/ Remuneration Exp.11. Mr Jasjit Sethi. Particulars ESOS 2006 Part I ESOS 2006 Part II Foreign exchange earnings and outgo: a. C. Whole Time Director 10. Jain. A. f. Mr O.07 e. Prabhakar* 57 Wholetime 2. value of perquisites and other benefits as per provisions of the Income Tax Act.TCI Freight Division 10. Sc.1996 VC&MD. Sethi 43 CEO.000 108. P. CEO .000 10. (Econ. Number of options lapsed 7.000 Agarwal* Director. Employee-wise details of options granted to: Employed for full year (i) Senior managerial personnel Options granted Options granted 1 D.S. Agarwal* 60 Vice.1991 GM. Sc. during any Director.000 31 32 . • Disposal of tyres.) General 3.000 Management 4. Jain 57 President & 2. 27. B. Statement under Section 217(2A) of the Companies Act. 2009-10 2008-09 c.000 2 Vineet 36 Executive 18. Chairman & Industries Ltd. Managing (ii) Employees who were granted.2002 - Agarwal* Director. which have less fuel efficiency. TCI Mr K. Position held i. Prabhakar.6 22 01.1996 Executive.07. CONSERVATION OF ENERGY. Number of options exercised 22. 1975. TCI 2.1 14 01. *Nature of employment contractual as per the terms of appointment.51 187. The Pricing Formula about 50 % discount was given at closing price of share. Total Number of options in force 70. O. Finance.000 of employment j. A.04.03.37 d.08. Bhoruka driving. instruments. Mr P.90 34 01. CEO .000 10. Jasjit S.2000 Dy. • Trucks have been designed to reduce their fuel consumption by modern aerodynamic designs.1978 Divisional energy. it has resulted in timely tracking of the trucks and providing cargo updates to customers while reducing costs due to better route and speed monitoring. Com.000 108. batteries and used oil is done with proper care for environment conservation. options amounting to 5% or Overall more of the options granted during the year Management 1. K. 1999 as on 31st March 2010 • RTHSSE (Road Transport Health Safety Security and Environment) Mechanism continues to yield encouraging results at various fleet centers of Company. 1961 and Rules made hereunder and Company’s contribution to Provident Fund but does not include Gratuity paid or contribution made to • As nearly all the Company’s fleet are equipped with Global Positioning System (GPS) and GPRS Gratuity Fund. Ongoing endeavour is in place by virtue of following measures to achieve operational efficiency: B. NOTES: Remuneration stated above include inter-alia. 5.31 8 01. Manager. Sharma. Industries Ltd.395 - g.

The impact on the profits and EPS of the fair at large.131. Method and Assumptions used to estimate All the important matters like management policies. Corporate Social Responsibility Profit as adjusted 429.26% 4.00 30. Expected Volatility 55. of shares on exercise of options calculated in 5. non-executive and independent (a) Exercise price equals market price Nil Nil directors. vii. equal or COMPANY’S PHILOSOPHY ON CORPORATE GOVERNANCE: exceeding 1% of the issued capital (excluding outstanding warrants and Corporate Governance is the way of handling the activities of a corporate in a fair and most transparent manner. Corporate governance has indeed been an integral part time of grant None None of all the activities and processes of the TCI since years. their effectiveness and implementations. Diluted Earnings Per Share pursuant to issue and ethical business conduct. Ensuring total compliance with all the applicable laws & regulations m. control functions are critically evaluated by the Board itself.960 TCI’s basic philosophy of Corporate Governance is reflected in following principles: Add .88% 5.The Board of Directors evaluates all the vital matters and gives strategic directions to the Company. conversions) of the Company at the setting accountability and integrity of the management. its about accordance with Accounting Standard (AS) 20 standards. Weighted average exercise price of Options whose Rs.198 i.40% 0.91 vi. Corporate Governance revolves around commitment k. Datta. Conducting the business affairs in the ethical manner Less .93 iv. Expected Life 2. the fair value of options granted setting up of goals. Profit as reported 429. performance. during the year: The fair value has been calculated using the Black Scholes Option Pricing model The Assumptions used in the model are as follows: Date of grant 23-May-08 21-May-09 1. Corporate Governance is a continuous process of sustaining and enhancing the standards of values and ethics.00 59. Annual Report 2009-10 (iii) Identified employees who were granted REPORT ON CORPORATE GOVERNANCE option. during any one year.00 BOARD OF DIRECTORS Weighted average fair value of options whose The Board of Directors of TCI is an optimum combination of executive.96 senior officials. Price of the underlying share in market at the time of the option grant (Rs.606 ii.22 2. Mr S. n.252. Compliance of Code of Conduct for Board Members and Senior Management along with Insider Trading prevention regulations (a) Exercise price equals market price Nil Nil (b) Exercise price is greater than market price Nil Nil viii. Internal Checks and audits Earning per share (Basic) as reported 5. Dividend Yield 1.91% 5.Fair Value Cost 3. Ensuring highest level of accountability and responsibility Earning per share (Diluted) adjusted 5.92 disseminations of all the price sensitive information Earning per share (Diluted) as reported 5.24% 58.552 iii.92 v.24 34. value method is given in the table below .22 3.930.Intrinsic Value Cost 3. Effective and prompt shareholders communication ensuring correct and timely disclosures and Earning per share (Basic) adjusted 5. Independent Statutory Auditors (c) Exercise price is less than market price 45. Risk Free Interest Rate 7. a non-executive independent Director heads the Board as its Chairman. value ethics and managing the business activities as the trustee of all the stakeholders and society l.809. Rs. M.28% 2.92 TCI Board believes that Corporate Governance is just not as compliances of legal requirements.The Board exercises its (b) Exercise price is greater than market price Nil Nil power and other functions at the Board Meetings and also through various committees of Directors and / or (c) Exercise price is less than market price 57.75 33 34 .) 95.

the information about the Directors proposed to be appointed/re-appointed is given herein under: 10 Mr K. of India Ltd. five meetings of the Board of Directors took place. Prabhakar 4 No Executive Director 12 1 5 1 5 Mr O. Castrol India Ltd.These codes are comprehensive and are applicable to all the 7 Mr Vineet Agarwal Executive Promoter Board Members and Senior Management Personnel. Executive Director 3 2 Nil Nil 1. * Includes foreign companies Fellow of the Institution of Engineers. He had joined HUL as Management Trainee in 1956 after completing his University which they are directors. P. The maximum time gap between any two-Board meetings was less than 4 months. M. 28th October 2009 10 8 4 IL & FS Investment Managers Ltd. Prabhakar Whole Time Director. Swaminatha Reddy 5 Yes 1 Mr S. Raghavan Independent Non Executive Director 4 Nil 2 Nil The Board has formulated a Code of Conduct and Ethics based on the inherent principles of Corporate Governance. 21st May 2009 10 10 2 Castrol India Ltd. Annual Report 2009-10 BOARD COMPOSITION ATTENDANCE OF DIRECTORS AT THE BOARD MEETINGS AND LAST AGM Non-executive and Independent Chairman Mr. Mr Datta has also headed the Associated Chambers of Commerce & Industry and Council of EU Chambers of Commerce & Industry and of Indian Chemical Manufacturers BOARD MEETINGS Association as President besides having served as the chairman of Bomaby First. Mr Chander Agarwal 4 Yes 3 Mr S. Datta heads TCI Board. Mr R. Datta Independent Non Executive Chairman 15 3 4 2 6. S. All the directors have confirmed to the Board that they are Chairman of Hindustan Unilever Ltd (HUL) as well as of all Uniliver Group companies in India and Nepal not member of more than 10 (ten) committees and do not act as Chairman of more than 5 (five) committees across all the companies in from 1990 to 1996.V. The following tables depict the status of Board meetings and attendances of directors at the Board meetings and General Meetings: Public Limited Companies Name of Committee Sl. Sarawagi 3 Yes 4 Mr K. M. Audit Committee -Member 2. Shareholders ’/ Investors’ Grievance Committee -Chairman 5. Datta 5 Yes Sl. S. 22nd July 2009 10 8 3 Philips Electronics India Ltd. 4. Transport Corporation of India Ltd. education in Chemical Engineering. 17th March 2010 10 6 6 Tata Trustee Co Ltd 35 36 . S. He is a Chartered Engineer. Mr Vineet Agarwal 4 Yes Promoter Director 5 3 1 Nil 8. Society of Chemical #Memberships of only Audit and Shareholders’ Grievance Committees of Public Limited companies are considered as relevant for the Industry (London) and Honourary Fellow of All India Management Association. Datta graduated with Honours in Chemisrty from Presidency College. Mr K. Fellow of Indian Institute of Engineers. general business ethics and practices. Agarwal 3 Yes Public Private Member Chairman 4. All the Board members have given a confirmation for Director 4 3 3 Nil complying these codes during the financial year 2009-10. P. Mehta 3 No 5. Agarwal VC&MD. Mr K. Swaminatha Reddy Independent Non CODE OF CONDUCT AND ETHICS FOR DIRECTORS AND SENIOR MANAGEMENT Executive Director 9 5 Nil 5 PERSONNEL: 6 Mr R. Agarwal 5 Yes Name of Director Designation Companies Committees No (including TCI)* (including TCI)# 3. Raghavan 4 Yes 2 Mr D. Sarawagi Non Executive Director 5 5 Nil Nil Pursuant to the requirements of the Listing Agreements with Stock Exchanges on Corporate Governance. Calcutta and obtained a Post Graduate Degree in Science & Technology from Calcutta University. 8 Mr Chander Agarwal Executive Promoter APPOINTMENT / REAPPOINTMENT OF DIRECTORS Director 15 3 Nil Nil 9 Mr M. P. Mr Datta has more than Board of Directors meets every quarter or earlier as and when such necessity comes across. Meeting Dates Board Strength No. As at 31st March 2010. M. 22nd January 2010 10 8 5 BOC India Ltd. Mehta Independent Non 10. 1. of Board Meetings Attendance at last AGM Names the Chairman is of Non-Executive Directors. Mr Datta has been the purpose of computing limit under Clause 49(IV)(C) of the Listing Agreement. Remuneration / Compensation Committee -Chairman 3. Agarwal Non Executive Director 6 8 2 1 9. Mr D. No. Category & Directorship in Membership of 2. Mr M. Mr S. year ended 31st March 2010. M. Mr S. the composition of the Board is as follows: No attended in FY 2009-10 held on 22nd July 2009 Number of Number of 1.The majority on the Board including Sl. Mr O. P. During the financial 50 years of rich experience in various business enterprises. N. Member. Executive 7. Mr S. of Directors Present No 1 Transport Corp. N.V.

7 Riverina Oil and Bio Energy Pty Ltd. N. AUDIT COMMITTEE Harvard Business School. Mr R. USA. Audit Committee -Member 2 TRF Limited Audit Committee -Member 15 Rabo India Finance Limited Rabo India Finance Limited 3 Andhra Pradesh Paper Mills Limited Remuneration Committee -Member 16 Reach (Cargo Movers) Pvt.) Ltd. Mr S. Shareholders’/ Investors’ Grievance Committee -Member through the Finance function with top corporates. Remuneration Committee -Chairman 8 Iruppu Power Pvt. M. 3 TCI Industries Ltd. Mr Agarwal did his Graduation in the Management from Davenport College of Business US and Advanced Management Program (AMP) certification from I.2010. performance of internal and statutory auditors and adequacy & efficiency 2 Bhoruka Gases Limited Shareholders’/ Investors’ Grievance Committee -Member of the internal control systems. 1956 and Clause 49 of Listing Agreement. Ltd. Bangalore. both in India & abroad. All the members of the Audit 13 Bhoruka Power Investments Pvt.V. and recognized early for his skill in developing Management Information Systems. 1 Transport Corporation of India Ltd.V. Mr Raghavan’s career path encompassed 8 Peerless Gen. Audit Committee -Member 4 Rane Engine Valve Ltd. Committee have requisite financial knowledge and experience and experts in the finance field. 12 Atul Ltd. Kirloskar Electric Company Ltd.V. He is occupying position of Chairman/director in prominent companies. 5 Kirloskar Electric Company Ltd. Co.2010. • To seek information from any official of the Company.03. Raghavan is a professional manager with about forty years of varied experience. Peerless Gen. Raghavan does not hold any share in the Company. 9 Bhoruka Steel Investments Pvt. Companies in which Mr R. audit reports and discussions with internal/ external auditors about the scope of audit including the observations of the auditors. Composition and Attendance: 11 Bhoruka Realty Holdings Pvt. 2. As on 31st March 2010. Mr Agarwal has interest in Power and Gas industries. Agarwal holds 1030 Shares of the Company. The major role of the Audit Committee is to oversee the quality and integrity of the accounting. & Inv. • To investigate any activity within the ambit of its functional scope. Agarwal BOARD COMMITTEES is the member of the Governing Body of IIM. Ltd. N.03. N. N. Co. Ltd.The Audit Committee has been constituted in accordance with the requirements of the provisions of Section 292A of Companies Act. Fin. at all levels and in widely divergent environments. Mr Raghavan’s experience profile 9 Peerless Hotels Ltd. Ltd. As on 31. auditing and internal control policies of the Company and to ensure the adherence to and compliance with these policies. Annual Report 2009-10 7 Peerless Hospitex Hospital & 3. & Inv. 10 Zodiac Clothing Company Ltd. Mr S. Andhra Pradesh Paper Mills Limited 17 Ambit Holdings Pvt. discussion and review of periodic 4 Bhoruka Power Corporation Ltd. S. Deutsche Postbank Home Finance Ltd. independent. A Chartered Accountant by profession. Ltd. at senior executive/ Research Centre Ltd. Transport Corporation of India Ltd. Board levels in various companies of repute. the Audit Committee consists of four non-executive directors. the three of them are 12 Bhoruka Gases Investments Pvt. • Reviewing with the management. Fin. Audit Committee -Chairman Public Limited Companies Name of Committee 13 Bhoruka Power Corporation India. Datta does not hold any shares in the Company. Ltd. Raghavan holds Directorship and Committee Membership: 11 Kansai Nerolac Paints Ltd. Remuneration Committee -Member As on 31. Compensation Committee -Member is enriched with its extensive exposure to dealing with people of diverse cultures and persuasions. Ltd. BOC India Ltd. Audit Committee -Member 18 Chandras’ Chemical Remuneration Committee -Member Enterprises (Pvt. Ltd. Ltd. Ltd. Mr. 10 Bhoruka Realty Investments Pvt. As on 31. TRF Limited Home Finance Ltd. Agarwal holds Directorship and Committee Membership: The terms of reference and powers of the Audit Committee inter alia include following: Public Limited Companies Name of Committee • Reviewing with the management. 6 Shahapur Power Limited. the quarterly / annual financial statements and submission with the Board for approval. Audit Committee -Member • Recommending the appointment and removal of statutory auditors. relatives of Mr R.2010. 14 Bhoruka Steel Holdings Pvt. • Discussion with the internal auditors of any significant findings and follow up thereon. Ltd. 37 38 . Audit Committee -Chairman • Carrying out any other function as is mentioned in terms of reference of Audit Committee. Companies in which Mr S. 14 Deutsche Postbank 1 Transport Corporation of India Ltd.03. IL & FS Investment Managers Ltd. the relatives of Mr S. Agarwal has over 39 years of rich and varied experience in the various industries.

39 40 .N. Evaluate reconstructing the business of the Company by way of creation of any division and/or de-merger Mr S. N. Swaminatha Reddy . Mehta 3 Mr O. Agarwal Member II. Agarwal Chairman Mr K. Annual Report 2009-10 During the year under review. FINANCE COMMITTEE The Compensation Committee of the Directors comprises of a majority of independent directors. To carry out valuation of the businesses carried on by the Company. RESTRUCTURING COMMITTEE committee also reviews the performance of the Registrars and Share Transfer Agents and recommends measures for overall improvement in quality of investor service. Director Member Mr M. Mr K. Evaluate options to improve financial and operating performance. Sarawagi Member VI. four meetings of the Committee were held: respective local factors in mind and also to increase shareholders wealth. N. as well as Demat form and to approve the issuance of duplicate share certificates. • To consider and approve proposals from Banks/Financial Institutions for availing financial assistance for the Company – for both Term loan as well as working capital within the permissible limits. The V.Chairman 3 2. P. & buildings. Agarwal Chairman Mr O. situated all across the country. COMPENSATION/ REMUNERATION COMMITTEE IV.. as of now may not essentially be required for business operational use. non-receipt of dividend etc. Agarwal 2 or otherwise. of Meetings attended Name of the Member Position Mr O. S. Constitution of Re-structuring Committee: All the complaints received during the year were resolved with the satisfaction of the concerned shareholders The Restructuring Committee was formed by the Board in the year 2008 to identify such properties. Agarwal 2 Mr K.M Datta 4 Mr S. of Meetings attended 1. To consider all the other incidental business in respect of the above. 4. which. This Committee primarily overlooks the Employee Stock Options Scheme besides mandated to consider payment & The Finance Committee primarily meets in extreme exigency in place of the Board meeting to deal with fixation of remuneration to the Managerial personnel as and when required. following matters: • To take on record the un-audited quarterly results for the Company for the 1st & 3rd quarter. whose service may be required to carry out the III. etc. being land and there was NIL pending complaint/ grievance as at 31st March 2010. Mehta . four meeting of the Audit Committee were held: COMPOSITION: The Composition of Finance Committee is as follows: Name of the Member No.S. Director Member Mr Vineet Agarwal Member Mr M. SHARE TRANSFER COMMITTEE Reconstruction of the business of the Company. COMPOSITION Share Transfer Committee meets once in every fortnight and 24 such meetings were held during the year under review and its composition is: Name of the Member Position Name of the Member Position Mr D. P. • Any other issue as may be delegated by the Board. The Board has also constituted a Share Transfer Committee inter alia to approve the share transfers in Physical 5. Mehta Member Mr D. S. The scope of the Restructuring Committee inter alia includes : Name of the Member No. P. Such identified properties may be developed commercially / residentially keeping in view the During the year. non-receipt of balance sheets. Swaminatha Reddy Member Mr S. Sarawagi. P. To appoint agencies / consultants / lawyers. Swaminatha Reddy. Mr Vineet Agarwal 4 3.Vice Chairman & Managing Director Chairman Mr D. SHAREHOLDERS /INVESTORS’ GRIEVANCE COMMITTEE Mr Vineet Agarwal Member The Shareholders’/ Investors Grievance Committee of the Board oversees redressal of stakeholders’ grievances related to transfer / duplicate issue of shares. Agarwal.Chairman 4 Mr S. P.

568. Hindu Business Line.000 250. The financial results of the Company and Annual Report are also displayed on Company’s official website http://www.000 E. The Company while deciding the remuneration package of the senior management members takes into B. Sarawagi has chosen not to take any sitting fee / commission voluntarily.com from time to time.000 Your Company has put in place a whistle blower policy to enable a person who observes an unethical practice Mr K.000 reporting and investigation of allegations of suspected improper activities.000 250. Swaminatha Reddy Member A.000 250. P. Mr D.500. 60. Mr S. . 2.V. Your Company has put in place proper checks to protect the identity of complainant and any instance of Mr Vineet Agarwal. if they choose to do so. Mr Chander Agarwal. 105. N. Securities and Exchange Board of India (SEBI) and other statutory authorities on all matters relating to capital markets. Position respectively.811. The detailed Management & Discussion Analysis Report has been enclosed with this annual report. no other non-executive director holds any shares as on 31st March 2010. . Compliance with Regulations consideration the following items: The Company has duly complied with various rules and regulations prescribed by the stock exchanges. 125.000. 41 42 .588. of India.000 framework.840.930 equity shares through their relative(s). Mehta . Datta . Executive Director 8.M. Information released to the press at the time of declaration of results is also sent to all Stock Exchanges where the shares of the Company are listed for trading.000 retaliation against such person. This policy primarily takes care of Mr O. Prabhakar. N. . P. Agarwal-VC&MD 18. S. The Company is paying fees to a firm of legal consultants of which a Non-Executive Director is a proprietor / partner. C. Employees and others are Mr R. Raghavan . - The Company has duly followed the accounting standards laid down by the Institute of Chartered Accountants Mr K.000 250.555 . P.) members every quarter about the risk assessment and minimization procedures.tcil. Executive Director 13. Financial Express and Andhra Prabha etc. Datta Chairman DISCLOSURES: Mr O. Nil 250. Whistle Blower Policy Mr S. P. Whole Time Director 2. The Company has no pecuniary relationship or transactions with its Non-Executive Directors other than payment of sitting fees F. It has laid down procedures to inform the Board Name of Directors (Rs. Swaminatha Reddy .) (Rs.P. 145. Agarwal and Mr M. Sarawagi who holds 1030 and 10. N.095 .) periodically reviewed to ensure that executive management controls various risks by means of properly defined Mr S. Accounting Standards Mr M. These procedures are Fees (Rs. 2.500.000 (whether or not a violation of law). (a) employment scenario.000 D. Risk Management Salary Sitting Commission The Company has adopted a Risk management Policy.747 . 5. Means of Communication: The financial results of the Company are being published in widely circulating national dailies such as Economic Times. Sarawagi . Agarwal .336 . Agarwal did not accept any sitting fees while Mr M. (c) remuneration package of the managerial talent of other industries.000 encouraged to use guidance provided by this policy for reporting all allegations of suspected improper activities. and no penalties or strictures have been imposed on the Company by any of them in this regard during (b) remuneration package prevailing in the industry. . M. Annual Report 2009-10 COMPOSITION HOLDING OF SHARES BY NON EXECUTIVE DIRECTORS Name of the Members Except Mr S. Sarawagi Member The transactions with the Related Party have been disclosed in detail vide note number 6 of Schedule number 23 to the Balance sheet as at 31st March 2010 and the Profit & Loss Account for the year ended on this date which REMUNERATION POLICY forms part of the Balance sheet. Related PartyTransactions Mr M. and the last three years. Mr S. Management & Discussion Analysis Report and/or payment of commission to them. to approach Audit Committee without necessarily informing their supervisors and without revealing their identity.

593 95.623.3 2. Hyderabad-500004 100 2007-08 29th July 2008 12:00 Noon . Secunderabad –500003 Companies Act.504 During the last financial year under review.172 Book Closure Dates 21st July 2010 August 2009 89.214 Dividend Payment Date On or after 22nd July 2010 September 2009 96. July 2009 77. III.5 53. INE688A01022 January 2010 137.056.607.6 76.714 95.175. None 50 2006-07 25th July 2007 11:00 am .730. Section 81(1A) of the S. 11-6-841.394 77.6 1.5 1. STOCK MARKET PRICE DATA (IN RS.165 116. Annual Report 2009-10 GENERAL SHAREHOLDER INFORMATION IV.5 1.856 55 33. Chambers of 150 Commerce & Industry. Hyderabad-500004. GENERAL BODY MEETINGS: The following graph depicts the share price movement of the company’s share on BSE Vs BSE The details of Annual General Meetings held in during the last 3 years and the Extra Ordinary General Meeting Sensex during 2009-10: held during the last one year are given in following table: TCI Share on BSE Vs Sensex Sensex TCI Year Date Time Venue Special Resolution 250 Annual General Meetings 200 2008-09 22nd July 2009 11:00 am Surana Udyog Hall.5 73. 3rd Floor.550 71.55 82.6 572. ANNUAL GENERAL MEETING: Bombay Stock Exchange National Stock Exchange Months Volume Volume The 15th Annual General meeting of the Company is scheduled to be held on 21st July 2010.832 85.3 1.8 80 1.847 II.do .8 90 4.966.092 Venue Surana Udyog Hall.2 2. of Shares) April 2009 54.45 80.119 Listing of Equity Shares at The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).663 Date 21st July 2010 May 2009 71 44. Base 100 = April 2009 43 44 . The Federation of Andhra Pradesh Chambers of Commerce and Industry.268 96.6 57.182 Financial year 1st April 2009 – 31st March 2010 October 2009 99.7 58. November 2009 95 70.513 Stock Code NSE-TCI & BSE-532349 December 2009 95.183.05 9. 1-8-271 to 273.7 74 1. POSTAL BALLOT March 2010 116. The related High Low High Low information is as follows: (No.3 88.55 74.473.727 137.5 4. 1956.05 33 383.2 322.797.786 102.15 1.035.422.65 2.do .75 87.4 9. June 2009 84.M.1 1.186.173 Time 11:00 A.342 89. Red Hills.8 68 797. P.866.113.9 85. 11-6-841. None 0 Extraordinary General Meetings Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 2007-08 6th Sep 2008 1:00 pm 306-307. Road.3 821. / PER SHARE) I.5 1.85 43.9 3.4 91.7 52. Preferential Issue under Ashoka Bhoopal Chambers.449.324 ISIN No.15 971. The Federation None of Andhra Pradesh.126 February 2010 102.129.9 67 1. there was no resolution passed through Postal Ballot process.504. of Shares) (No.2 88.237. Red Hills.258 99.

any amount of dividend which is lying unclaimed for a period of 7 years from the date of its declaration will be deposited with “Investor Range (Number of Shares) Shareholders Shares Education and Protection Fund” (IEPF). 69 Institutional Area b. 2012 5001-10000 143 0. holding 66.00 2006-07 Final 25th July. Non.49 b.245 100. PROMOTERS Corporate Office: a. 4239-0725. . 2005 2nd Oct. 0124.122207 Sub Total A 49.867.47 2006-07 Interim 9th Feb.54 3. Annual Report 2009-10 V.246 13.698 6. 2010 501-1000 1.540.947 3.085 7. TCI House. 2007 24th Jul. 2014 As on 31st March 2010.310.50 Sub-Total (B-1) 5.603 shares forming 91.50.202 24.36% of 2007-08 Interim 24th January. 2011 1001-5000 1.38 Year Nature of Dividend Date of Declaration Amount be Transferred within 30 days to IEPF 101-500 12.com 1.02 2.55 1.com a. Tel.030.bansal@tcil. if any.867.110033 VI.287 31.289 88. PUBLIC N/A N/A e-mail: ak. out of total of 22.09 iv.229 0. G. The date Nos. Karnal Road.15 Date after which Unpaid 51-100 3.660.80 iii.238-1603 to 07 Fax. OCB 2. 2003 all the share transfers and related operations – both for physical as well as in demat mode. Individual 10. secretarial@tcil.164.378 1.00 45 46 . Abhipra Complex.00 72. Gurgaon . Indian 49.634 55.535 1.074. have been outsourced to: No claim shall accrue for payment of dividend after the expiry of Seven Years from the date of its declaration. Azadpur.472.19 2. 2007-08 Final 29th July. Dilkhush Industrial Area. 1956.919 17. the M/s Abhipra Capital Ltd.259. 2008 28th Jul.76 . .23 TOTAL B 22.4239-0708. Sector-32.717 7.13 Sub-Total (B-2) 17.958 68. Foreign Institutional Investors 4. 2006 22nd Oct.713. Company has been sending reminders to the shareholders whose dividend is lying unclaimed for the past years Ground Floor.889 1. . NRI 1. 1-50 3.547. UNCLAIMED DIVIDENDS: DISTRIBUTION OF SHAREHOLDING AS ON 31ST MARCH 2010 As per the provisions of Section 205A read with 205C of the Companies Act.010 13. Others i.207 0.tcil.154. Delhi . A-387. 2007 8th Feb.50 b.528.80 2003-04 Final 4th Sep.institutions a.746 100. As an investors friendly measure.45 2005-06 Final 23rd Oct.41 2004-05 Final 3rd Sep. 2013 10001 & above 142 0.com.03 c.23 109. SHAREHOLDING PATTERN AS ON 31ST MARCH 2010: Tel: 011 . %age of declaration of dividend and date of their transfer is given in table below.226 3.24 TOTAL 72. 2015 the total paid up capital of the Company held shares in dematerialized form. Clearing Members 65. . Institutions Website: http://www. Financial Institutions/ Banks 24. a Fund managed and administered by the Central Government. 13170 Shareholders. T.746. 2015 INVESTOR SERVICES: 2008-09 Final 22nd July. Foreign Nil .926 2. 2016 Since 1st April.528. HUF 1.958 68.76 . A. The Shareholders are requested to claim their unclaimed dividend. 2004 3rd Sep. Bodies Corporate 2.965 2.63 10.304.23 272.570. 2014 Total 22.238-1611 B.245 100.2721-5530 Number of %age of Paid up equity or Otherwise Particulars Shares Any correspondence pertaining to any shares related matter can also be made at the dedicated Shares Encumbered Department of the Company at: Number %age Transport Corporation of India Ltd. 2009 21st July. %age Nos.737 4. 0124 .181 5. requesting to claim the same.658 0.62 64.422 0.89 c. 2003 28th Aug.81 ii. Mutual Funds/ UTI 352. if any.180 0. 2008 23rd Jan. 4239-0909 Shares Pledged Fax: 011 .090.35 2002-03 Final 29th Aug.

compliance of the conditions of Corporate Governance. 2003 (as amended) issued by the Central AUDITORS’ CERTIFICATE ON CORPORATE GOVERNANCE Government of India in terms of sub-section (4A) of section 227 of the Companies Act. the Company or the efficiency or effectiveness with which the affairs of the Company have been conducted. we report that: The compliance of conditions of Corporate Governance is the responsibility of the Company. Listing Agreements. as well as evaluating the overall financial statement presentation. 1956. S. Further to our comments in the Annexure. proper books of account as required by law have been kept by the Company so far as appears from our examination of the books and proper returns adequate for the purpose of our audit have In our opinion and to the best of our information and according to the explanations given to us. Our responsibility is to express an opinion on these financial statements based on our audit. S. ForTransport Corporation of India Limited 2. R. Camp : Gurgaon For M/s R S Agarwala & Co. Agarwala Partner Membership No. We have audited the attached Balance Sheet of Transport Corporation of India Ltd. of the cash flows for the year ended on that date. An audit also includes assessing the accounting principles used and significant estimates made by management. v. In our opinion and to the best of our information and according to the explanations given to us. Those Place: Gurgaon D. In our opinion. the Profit and Loss Account. P. An audit includes examining. referred to in paragraph 3 above. 1956. 304045E R. 1956 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: a) In the case of Balance Sheet of the state of affairs of the Company as at 31st March 2010. On the basis of written representations received from the directors as on 31st March 2010 and taken on record by the Board of Directors none of the directors is disqualified as on 31st March. during the year ended 31st March 2010. The Branch Auditors’ Report has been forwarded to us the Company has complied with the conditions of Corporate Governance as stipulated in the above-mentioned and appropriately dealt with. 2010 from being Date : 19th May 2010 Chartered Accountants appointed as a director under section 274(1) (g) of the Companies Act. These financial statements are the responsibility of the Company’s management. Annual Report 2009-10 A U D IT O R S’ R E P O RT DECLARATION BY THE CEO UNDER CLAUSE 49 OF THE LISTING AGREEMENT REGARDING ADHERENCE TO THE CODE OF CONDUCT TO THE MEMBERS OF TRANSPORT CORPORATION OF INDIA LTD. Date : 19th May 2010 Chartered Accountants Firm’s Regn. 4. The Balance Sheet. comply with the accounting standards referred to in section 211 (3C) of the Companies Act. the said accounts read together with the notes and accounting policies thereon give the information required by Partner the Companies Act. Profit and Loss Account and Cash Flow Statement dealt with by this report are in We state such compliance of conditions of Corporate Governance is not an assurance on the future viability of agreement with the books of account and returns from the branches. Our examination may not be construed as an audit or an expression of opinion on the financial statements of the Company. We conducted our audit in accordance with auditing standards generally accepted in India. in accordance with the provisions of Clause 49 of the Listing paragraph 4 & 5 of the said Order. we enclose in the Annexure hereto a statement on the matters specified in Ltd. on a test basis. by other auditors. we certify that been received from the branches not visited by us. of the profit of the Company for the year ended on that date and c) In the case of Cash Flow Statement. the Balance Sheet and the Cash Flow Statement. 1. as at 31st March 2010. 3. In our opinion. the It is hereby certified that the members of the Board of Directors of the Company and the Senior Management annexed Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date Personnel have affirmed the compliance with the Code of Conduct adopted by the Company in terms of clause in which are incorporated the audited accounts of the TCI Seaways division and the branches in Nepal as audited 49(1)(D)(ii) of the Listing Agreement. F-5534 47 48 . Camp : Gurgaon For R S Agarwala & Co. As required by the Companies (Auditors’ Report) Order. We believe that our audit provides a reasonable basis for our opinion. Date: 19th May 2010 Vice Chairman Managing Director evidence supporting the amounts and disclosures in the financial statements. b) In the case of Profit and Loss Account. No. Agarwal standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. which to the best of our knowledge and belief were has been limited to the procedures adopted by the Company and implementation thereof for ensuring proper necessary for the purpose of our audit. We have obtained all the information and explanations. iv. Our examination i. Agreements executed by the Company with Stock Exchanges where equity shares of the Company are listed. 1956 and on the basis of such checks as we considered appropriate and according to the information and explanations given We have examined the compliance of conditions of Corporate Governance by Transport Corporation of India to us during the course of audit. iii. ii. Agarwala vi.

fixed assets and for the sale of goods and services. Employees’ State Insurance 29. no major weakness has been noticed in the internal control system. (c) As informed the Company has not taken any loans. The investments in shares. There is an adequate internal control system commensurate with the size and nature of the Company’s applicable to the Company. Interest bearing loan has been given to one company. and according to the information and explanations records have been made and maintained. During the 15. The Company has maintained records showing full particulars including quantitative details and situation of Income Tax 304. custom duty and other material statutory dues as applicable with Firm’s Regn.03 High Court physical verification. Sales Tax 3. Trade Tax 4. are held by the Company in its own informed of any such instance. No security or charge has been created in respect of debentures issued. investor education and protection fund. sales-tax. S. service tax. The Company has complied with the provisions of Sections 58A. us. However interest where applicable is being charged thereon. (a) To the best of our knowledge and belief and according to the information and explanations given to us. We are of the opinion that prima facie the prescribed accounts and with the generally accepted auditing practices in India. 9. income- Chartered Accountants tax. 1759 lacs.00 High Court 4.23 Joint/ Assistant Commissioner. long-term investment. 58AA and other relevant provisions of the to the information and explanations given to us. have been so entered. 304045E the appropriate authorities.88 Trade Tax Officer 2. In our opinion.The Company has maintained proper records of its inventories and no material discrepancies were noticed on Trade Tax 5. size and nature of Company’s business. and according to the information and explanations given to us. in our opinion. The Company has not raised any money by public issues during the year. The Company has no accumulated losses as at March 31. The provisions of any special statute applicable to chit fund / nidhi / mutual benefit fund / societies are not 5. The procedures followed by the management for such physical verification are.The maximum amount involved during the year aggregate to Rs. securities. 16. are as under: 49 50 . the term pursuance of contracts or arrangements entered into the register in pursuance of Section 301 of the loans have been applied for the purposes for which they were obtained. We are informed that a test physical verification of these assets was carried out by the management during the year and no material discrepancies were noticed. nor we have been investments. 21. The Company has not granted any loans and advances on the basis of security by way of pledge of shares. Physical verification was conducted by the management in respect of inventories at reasonable intervals. (b) In our opinion.75 lacs. All the above companies are covered in the register financial year ended on that date or in the immediately preceding financial year. Stamp Duty 39. in our opinion. 704 lacs and the year end balances to Rs. the terms and conditions on the particulars of contracts or arrangements that need to be entered into the register in pursuance of which the Company has given guarantee for loans taken by others from banks or financial institutions. There are no stipulations as to the dates for 12. the rate of interest and other terms and conditions of above loans are not prima facie prejudicial to the interest of the Company. which has been repaid during the 11. 13. 18. According to the records of the Company examined by us and the information and explanations given to repayment of principal and interest. funds raised on short-term basis have not been used for Companies Act. No. However we have not made a detailed examination of such records. Camp : Gurgaon R. nor have we been informed of such case by the Management.38 Commissioner (Appeals) fixed assets. debentures etc. On the basis of an overall examination of the balance sheet of the Company. name. We have broadly reviewed the accounts and records maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of cost records under section 209(1)(d) of the Act 22. in our opinion and according 7. In our opinion. During the year the Company has not disposed off a substantial part of its fixed assets. wealth tax. firms or other parties covered in the register maintained under Section 301 of the Act . debentures and other securities. debentures and other course of our audit. (b) In our opinion and according to the information and explanations given to us. The Company has not made any preferential allotment of shares during the year to parties and companies internal audit regularly. secured or unsecured from companies. The internal audit system is being reviewed and strengthened to commensurate with the 20. are Section 301 of the Act. carried out in accordance in respect of Electricity generation. The Company has appointed a firm of Chartered Accountants at the TCI Shipping Division to do the 19. have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time. in lacs) Forum where pending 1. At other places the in-house internal audit department of the company conducted covered in the register maintained under section 301 of the Act. and according to the information and explanations given to us. we have neither come across any instance of material fraud on or by the Company. 1956 and the rules framed thereunder with regard to deposits accepted from the public. securities. the transactions made in 17. by us. on an overall basis. 2010 and has not incurred any cash losses in the year and also to one joint venture company. the Company is generally regular in depositing the undisputed statutory dues For R S Agarwala & Co. 8. (b) According to the information and explanations given to us and the records of the Company examined by us. 1117. trade tax and employees’ state insurance as at March 31. Agarwala 2010 which have not been deposited on account of a dispute and adjusted with the refunds due to the Date : 19th May 2010 Partner extent of Rs. During the course of our examination of the books and records of the Company. given to us. the Company has not defaulted in repayment of dues to any financial institution or bank or debenture holders as at the balance sheet date.93 Income-tax Appellate Tribunal Trade Tax 73. (a) The Company has during the year granted unsecured interest free loans to six wholly owned subsidiaries. 14. business for the purchase of inventories. In our opinion. 6. Act.69 Chief Controlling Revenue Authority reasonable and adequate in relation to the size of the Company and the nature of its business. Income Tax 1236. noticed or 10. the particulars of dues of income-tax. (a) According to the information and explanation given to us and the records of the Company examined reported during the year. internal audit. maintained under Section 301 of the Act. including provident fund. Annual Report 2009-10 Annexure to Auditors’ Report referred to in paragraph 3 of our report of even date: Nature of Dues Amount (Rs. not prima facie prejudicial to the interest of the Company. employees’ state insurance. the Company is not a dealer or trader in shares.

299 2.820 105.826.782.302.417.866.314 Balance Available For Appropriation 505.815. F-5534) Vineet Agarwal Chander Agarwal A.693 862.631.502.505 283.689 3.186.918 Current Assets.790.107. Bansal N. VP-Group Executive Director Executive Director Group CFO & Sr.324. S.056. Agarwala R.000.084 Loan Funds EXPENDITURE Secured Loans 3 2.319 185.957 Deferred Tax Liability 5 292.677.000.873.346.716.003.110.000 Capital Work-in-Progress 149.077 Proposed Dividend 29.000 147.085. Date : 19th May 2010 Place : Gurgaon. S.480.898 14.655.164.166 Less: Depreciation 1.394.255.000 Provisions 13 407.452. Mehta D.590 Liabilities 12 593.502.545. F-5534) Vineet Agarwal Chander Agarwal A.069 Total Assets (net) 6.280 Sales & Services 15 739.201.606.974 13.079.815.011. P.730 229. M.489.228 2.757 724.546 2.598.556.610.136 12.292.914 674.791. Agarwala Partner (Membership No.Deferred 9.463.636 64.554 Gross Block 4. K.045.011.355 2.567.340.419.192.604.230.266.817 355. Datta O. loans And Advances Taxes for earlier years (4.817 355.652 Personnel Expenses 19 718.767. S.901 Balance Carried to Balance Sheet 75.550 415.550 Earning per Share .238. P.471. Agarwal Chartered Accountants Chairman Director Director Vice Chairman & Chartered Accountants Chairman Director Director Vice Chairman & Managing Director Managing Director R.069 Cash and Bank Balances 10 205.863.971 119.317.849.000 283.662.471.674.308.Basic and Diluted (Note 9 on Schedule 23) 5. Schedules referred to above form part of the. S.963.194. K.625.000.255.918 3.067.387.845 489.847.506.469.123.546.258) Inventories 8 8.556 Tonnage Tax Reserve 12.941 1.435 .288.268.444. Swaminatha Reddy K.416 - 3. Annual Report 2009-10 BALANCE SHEET AS AT 31ST MARCH 2010 PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2010 31st March 2010 31st March 2009 31st March 2010 31st March 2009 Income Schedule Schedule Rupees Rupees Rupees Rupees Rupees SOURCES OF FUNDS INCOME Shareholders' Funds Freight 14 13. Company Secretary Accounts & Audit Date : 19th May 2010 Place : Gurgaon.857 72.981 13.135.648 APPLICATION OF FUNDS Interest (Net) 22 195.324.661.219.662. VP-Group Camp : Gurgaon.329.572 4.654 653.896 7.91 Schedules referred to above form part of the. K.748.132.132 Balance brought forward from Previous Year 75.100 Profit After Tax 434.000 Foreign Currency Monetary .466 9.918 Net Block 2.298 43.011.402.S.659 2.471.666.223.913 1. Datta O.390 752.207 75.000 212.029 Reserves and Surplus 2 3.500.604.170.026.905.015 240. Balance Sheet.766 3. Mehta D.005 295.354.295.344.862 Interim Dividend paid 29.877.588 12.098 5.094.340 40.993.108.102 Total Funds Employed 6.000 189.098 5.550 Repairs and Maintenance Expenses 21 272.218 Exeptional Items 29.345 General Reserve 350.756 Profit Before Tax and Exeptional Items 676.505 449.766.069.400.366 2.031.394.289 Capital 1 145.000 Investments 7 357.019.242 2. Profit and Loss Account In terms of our Report of even date For and on behalf of the Board In terms of our Report of even date For and on behalf of the Board For R S Agarwala & Co.554.839 Provision For Tax . K.092.769 APPROPRIATIONS: Loans and Advances 11 1.Current 203.302 106.044.120 Operating Expenses 18 11.878.150) 10.625.982.409 Sundry Debtors 9 2.869.000 Administrative Expenses 20 606. Company Secretary Accounts & Audit Camp : Gurgaon.S. 18.688.474.859.000 16.000 Item Translation Difference Account (2.066.630 2.714.618 Other Income 16 39.238.803.452.Note 5 on schedule 23) 267.053.342 10.679.176 505.681 Less: Current Liabilities and Provisions Tax on Dividend 9.556. Baranwal Partner (Membership No.276. Bansal N.690. Date : 19th May 2010 Date : 19th May 2010 51 52 .993.830.604.832.303.621 Profit Before Tax 647.732 2.Fringe Benefit .476 259.097 Fixed Assets 6 Depreciation (Net .000.465.943. Swaminatha Reddy K.498.93 3.722.858.490 145.840 336.532 Cost of Goods Sold 17 147.453 Unsecured Loans 4 235. Baranwal Executive Director Executive Director Group CFO & Sr. Agarwal For R S Agarwala & Co.028.019. M.545) (231.857 Net Current Assets 2.

3.000) (e) Transferred from Profit and Loss Account.892.754 Less: Hire Charges allocable to future installments (219.956 Issued.000. .993.500.095.113. 100 each 50.857.490 145.000. 2 each have been issued on vesting of employees' stock options.513.000) (4.909) 667.280 Secured by equitable mortgage of specified immovable properties and -During the year 22605 shares of Rs.000 200.000 options are outstanding as on 31st March 2010. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS 31st March 31st March 31st March 31st March 2010 2009 2010 2009 Rupees Rupees Rupees Rupees (1) SHARE CAPITAL (3) SECURED LOANS Authorised: Term Loans from Banks: 100.549.554.400 options and 43.000 Equity Shares of Rs. 19. 2 each fully paid up: Foreign currency loans secured by first charge on one ship.381 -The company has granted options under the Employees' Stock Options Scheme and 178.200 options will vest in the year 2010-11.000.loans to the extent of Rs.120 1.545.000) 3.960.400.000.993. 30.857 235.761 (Repayable within one year Rs. 186.000.000 350.000) (226.655.207 1.618 At 1st April 2009 Current year (a) Transferred to Profit and Loss Account being depreciation provided on revalued amount (5) DEFERRED TAX LIABILITY (b) On vesting of stock options Deferred Tax ( Asset ) Liability (c) In respect of options granted under the Employees' Stock Option Scheme and in accordance with the guidelines issued by Securities and Exchange Board of India the accounting value of options (based on market value of share on the date of grant of Difference between book and 288.437.714.000 from a director (Previous year Rs.019 .631. Inventories.300.315 the Schemes of Arrangement/ Amalgamation duly (Repayable within one year Rs.335 Shares allotted for consideration other than cash as per mortgage of specified properties 333.034.820 5.171 450.300.373 .712.857 (a) Includes Rs.702 lacs Share Premium 628. 102.400.324.435 (d) 6.000 1.000 options minus option price) is accounted as deferred employee compensation.515.580. .198.402 . 100.900.Previous year Rs.452 407.504 lacs) are also guaranteed by some of the Directors.146.098. (Repayable within one year Rs.322.800 - Capital Redemption Reserve 19.700.820 42. Consequently salaries.120 1. 667.925 At 1st April Additions Deductions (Repayable within one year Rs.029.000 From Others: Tonnage Tax Reserve 90.537.400.242 2.207 75.290 (previous year Rs.257.740 628. 158.000.574. 407.758.000 From Banks: Reserve under section 33AC of Commercial Paper .500.043 145.700.085.000.892.045. and all moveable/ 21. Fixed Deposit Receipts and equitable mortgage of specified immovable properties 1.536.000) (d) Transferred to Share Premium on vesting of stock options during the year.000 (e) 1.000 Motor Cars/Containers and all movable assets and book debts of Wind Mill projects and equitable mortgage of specified properties of 250.178) Secured against equipments under Hire Purchase Contracts 887.000.532 Revaluation Reserve 145.265 1.690.000 - Profit and Loss Account 75. 72.955 Capital Reserves: 2.011. 47.650.450 (b) .192.163.000 288.817 .400 options . 17. 100. Other Items (226.000 (e) . . Disallowances under Income Tax Act (4.290 2.000 12.223.875. which is amortised on a straight line basis over tax depreciation the vesting period.546 2.000) (1.574. Of this 62.058.178.080) 2009 Working Capital Loans from Banks: (2) RESERVES & SURPLUS Against hypothecation of Book Debts.031.067. 32.152) Equity Shares of Rs.Previous year Rs.976 (a) 145.021.Previous year Rs.252.398) approved by the Hon'ble Andhra Pradesh High Court 102. 182.201.000 .845 1.670 Term Loans from Others: 145.815.300.000) (5. 292.000 Against hypothecation of Motor Trucks/Trailers/ Axles/ 500.000 298. Subscribed and Paid up: (Repayable within one year Rs.000.259.820 105.000. 37. being amortisation of deferred employee compensation.058.000 50.235 (c) 1.000 53 54 .997.000 (4) UNSECURED LOANS Others 407.000 10.Previous year Rs.056.000.062.428.892.209.146.000. Employees' Stock Option 7.452 Fixed Deposits (a) 5.000 283.446. 1.845 . 150.Previous year Rs. 2011-12 and 2012-13 respectively.000 the company and of a wholly owned subsidiary 745.713 596.452 .000 250. 2 each 200.000 the Income Tax Act. 1961 47.4.804. wages and bonus includes Rs.026.000 90. 631.486.2.000) (1.513.670 102.000 19.391.700.000 47.000 Preference Shares of Rs.035 1.86.000) (129.892.655.554.081.028.019 In addition.480.000.000.997.000.000 . 19.610 immovable assets and book debts of Wind Mill projects and equitable 51.552 78.058.000 Redeemable Non-convertible Debentures 230. hypothecation of Motor Trucks and Containers and all movable/ immovable assets and book debts of Wind Mill Projects.382.354.000 . 86.800) Revenue Reserves: Short Term Loans and Advances General Reserve 1.118.910 Shares paid in cash 42.

20.772 8.622.172.000.693. 10 each 100.100.313.548.388. 10 each 3.665 423.871.534(d) 590. Indonesia (c) Buildings include those on leasehold land.268.000.304.399 92.971 .584 132. 1.722. Ltd.670.603.) of Assets 01.200.000.000 39.610. - NOTES: TCI Global Holdings (Mauritius) Ltd.100. (b) Depreciation for the year includes Rs.000 .000 500.000 1. Germany Company's capital contribution (Refer note 4 of Schedule 23) (equivalent to Euro 25.000 26.242 252.871 (f) 657.824. 1.000) (*) . Plant and 599.251..686 38.729.255 60.627.104.867 259.530 46. .178. 3..2009 the year the year Year Deductions 2010 2009 TCI Global (Sanghai) Co. 14.266.000.300 each (*) .982.583 150.532.571.943 TCI Properties (West) Ltd.567.000 Machinery TCI Infrastructure Ltd.900.119 67. 36. 234.37.832. .942 Shares of Rs.000 39.035.927 201.911.041. .249 26.309.294.865.452 62. .054.693.346 .485 6.273 116.556 equivalent to Yuan 1. Furniture & 111. - TOTAL 4.291 118.773.421.000 3.015 6.636.346.664 1.12. 10 each (allotted during the year) 143.000 Trade: 155.839 TCI Express Pte. 149.250 Motor Trucks 1.991.844 521.193 respectively aggregating Rs.587 87.920.129.642.438 19.825.345 61.521. ..000 100.429.572.948. Transystem Logistics International Pvt Ltd.877 Vehicles 91.03.612 Shares of Rs.250.206 4.000 3.000 26..747 .909.543 1.986 .320.985.000 500.953 26.836. 690.989 1.504 538. of 11% Redeemable non-cummulative Rs. Computers 205..707.295 1.565. 28.669. - (equivalent to DKK 3.347.437 68.183 73.618 157.632 .462.451.479 Transport Co of India (Mauritius) Ltd.273.166.931.864. Mauritius Shares of Mauritius Rupees 10 each 2.756 .806 108. Singapore Shares of SG$ 1 each (allotted during the year) 38.330. Shares of Indonesian Rupiah 908.015.578 and Rs.420.340.195.000 Containers 135.801. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS (6) FIXED ASSETS 31st March 2010 31st March 2009 Quantity Quantity AT COST OR VALUATION DEPRECIATION NET BLOCK (Nos.483 666.558 99.771 was transferred to Capital Reserve.020 2.250 Rs.630 - PREVIOUS YEAR 3.000 preferance shares of Rs.685 Buildings (c) 436.595 663. 10 each 300. - by Rs.229.605.097.758.893. .122 1.668.810 on restatement of the said borrowings (Refer note 3 of Schedule 23) TCI Global Pte.693.641 1.046.610 106. . TCI Global. .000 1.083.250 (d) Includes land of the value of Rs.262 508.571.532 37.803.879. Denmark (allotted/ acquired during the year) 622.971 119.174 123. 31st 31st Description As at during during Up to Balance 31.526 34.406(e) 26. Equipments Shares of Rs.060 8.500 9. 15.505.500 37.706.620 transferred to partnership firms as TCI Global Logistik GmbH.200.000.055.798 .037 1.004 124.105.097 8.325.) Rupees (Nos.375 (e) Includes interest of Rs.659.720 67.117 8.250 130.801.251. - Capital Work 119.216 368.000 62.594(d) 69. 52.000 55 56 .000 8. China Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees (equivalent to Yuan 2.298.333 18.928 4.556 16.109.631 623. 100 each Ann-Sofie Scan ApS.301 417.2009 For the ment on Total March March (7) INVESTMENTS (At Cost) (Contd.826. Ltd.675. 5.199 capitalised TCI Global (HKG) Ltd.) Rupees Additions Deductions Adjust. 10 each 2.836.739 Ships 709.849.979 Fully Paid Equity Shares of Joint Stock Companies: (*): transferred during the year to subsidiary/ step-down subsidiary Unquoted - Fully Paid Preference Shares in a subsidiary Joint Ventures: TCI Distribution Centers Ltd.264.062.656.598 25.002 20. 10 each 100.506.000 1.328.610. Hong Kong (f) Includes Rs.200.513. 28.000 1.662 277. Singapore 31st March 2010 31st March 2009 Shares of SG$ 1 each (*) .318 4.500 37.685.295.V.532.621 122.662 5.566.436 7.079 19.207 6. .000 2.600 50.038. 4.970. 1.345 10. -in-Progress Shares of Rs.000 23.433 .926 .266 764.636.000.909.875.049 149.035. Ltd.000 10.945.375 .175 198. 20.344.200. 590.000 Fittings Office 60. 1.836 30.905.534 and buildings of the value of Rs.092. (a) A part of the Land & Buildings were revalued during the year ended 31st March 1999 and the resultant increase in the value of assets Shares of US$ 10 each (allotted during the year) 51.025 Quantity Quantity TCI Global (Thailand) Co.716.507.286.926 Capital in Partnership Firms Subsidiaries: TCI Holdings B.397.640 35.718 (7) INVESTMENTS (At Cost) Others: Long Term Investments XPS Cargo Services Ltd of Rs.462.000 300. 2.621 Infinite Logistics Solutions Pvt.335.700 1.413 118.350.000 .656 33.508 465.771.802 56.007 106. Ltd.470 774.319 32.876 347.976 in respect of the above revaluations.774.536 197.581.871. Ltd.639 430.) Rupees (Nos.071.915 33.04.527 10.794 839.612 97.474.340.470.107 TCI Properties (Pune) Ltd.489.006.853.851.832.966.307.692. Thailand (Nos.000 3.756 267.782 229.415 21.000 100.334 34.969 2.402.920.364 5. 144..302 23. Chain Pulley Shares of Rs.561 TCI Developers Ltd.851..007.000 Weighing 4. 10 each 50.358 .983.2.706 Scales & TCI Distribution Centres Ltd.268.837 12.486.632 680.202.437.465.496 474.020. Netherlands Shares of Euro 1 each (including Euro 50.000 50. .157.561.913 3.029.115.061 being exchange gain on repayment of related foreign currency borrowings during the year and Shares of HK$ 1 each (*) .641.000 2.11 allotted during the year) .000.785.229.750) .) Rupees Shares of Baht 100 each (*) . .694. PT. 145. 10 each (acquired during the year) 1.514.696 Shares of Rs.000 1.000 .719. 106.250 2.461 227.015.626 52. .467.595 1.920.861(d) 607. including Land 680.402.

498.919 SBI Liquid Fund Liquid Plus .243. 13000 1.471.500.. 10 each 8.132 (812 shares allotted on conversion of equity shares in Reliance Petrolium Ltd.032.441. .000 1.671 52.000.704.268.107 Reliance Industries Ltd.829 10.394.257. 300 355.655 Others .000 Nepal Bank Ltd. Gati Limited . Singapore(*) 191.Quoted Reliance Industries Ltd. 33.322) ICICI Prudential Infrastructure Fund 2.384.368 5.000.426 5. 194. .636 SBI Magnum Equity Fund (Redeemed during the year) .985 5.322 UTI Balanced Fund 3.919 12.020 2400 3. 10 each (9) SUNDRY DEBTORS (Unsecured) (converted in to 812 equity shares in Outstanding for more than six months - Reliance Industries Ltd. Ltd.000 6.495 JM Basic Fund 149.110.) (8) INVENTORIES Non-Trade (As taken.849.266.435.919 12.) Rupees (Nos. of Rs.134 1000 1.921.069.945.329.000.819 Mutual Funds' Units: Considered Doubtful 1.650 (10) CASH AND BANK BALANCES 357.471.859. .) Rupees Rupees Rupees (7) INVESTMENTS (At Cost) (Contd.753 5. 5 each Diesel and Petrol .848 - Note: With Scheduled Banks: The diminution in the market value of quoted In Current Accounts 167..000 Royal Bank of Scotland 44.292 .000 Andaman & Nicobar State Co-operative Bank 179.000.151 27.670 21.317. of Rs.624 2.000 7.986.Quoted: Maximum Balance LIC Mutual Fund Liquid Fund .573 investments is considered temporary In Deposit Accounts (a) 28. 148.867.190) (6. 10 each 982 1.066.767.314 (Redeemed during the year) .815 Cash and Cheques in Transit 2.775 79.319 185.000 Less: Provisions for bad and doubtful debts (1. .849.487.511 4.200 1.504 150. . At lower of cost and net realisable value Infosys Technologies Ltd.000.000.031 15.915.537 Considered Good 74.) . Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS 31st March 2010 31st March 2009 31st March 31st March Quantity Quantity 2010 2009 (Nos. 1. .Considered Good 2.190 6.039 Motor Parts.105 67.655 3.000 Transystem Logistics International Pvt.466 7.321 4.453 1.502.470. 14.435 Cash in Hand 1.720.228 2.820 a) Some of the fixed deposit receipts are deposited with Banks against borrowings and guarantees issued.180.002 Investments acquired and sold during the year: In Unpaid Dividend Accounts 5.657 917.925 (*): sold/ transferred during the year to a subsidiary/ step-down subsidiary 57 58 .342 Ship fuels & consumables 8.666.752.529 Market value of quoted investments 10.205 162. 199.342 982 1.014.since allotted 110. and 1812 shares received as bonus during the year) 3.806 Share Application Money pending allotment .748.000. . Lubricants and Others .398.934.000 Due from a private company (joint venture) in which a Reliance Diversified Power Sector Fund director of the company is a director/ member: (Redeemed during the year) .035 Edelweiss Capital Ltd of Rs.233 Reliance Petroleum Ltd.992. 280.096 75.073.243.508 - Fully Paid Equity Shares .917. - In Current Accounts Mutual Funds' Units . of Rs.105 67.442 25.Money Manager Fund . Ltd.000. 254. 596 20.valued and certified by the Management) Quoted .864 200.852.418 2.748.466 9.802. 98. Nepal 12.475 Reliance Mutual Fund .918. . .990 (1200 shares sold during the year) 1.469.038.581.000 2.000 149.753 5.271 Subsidiary: With Other Banks : TCI Global Pte.555.260.

616.221 Proposed Dividend 29.840 336.011.730.378.522.743 Taxation (net of payments) 336.000 Leave Encashment 24. 2.036.720 9.097.183 Dividends on Investments : Long Term 25.000 14.705 230.299 Unpaid/Unclaimed Dividend 5.716 13.860. 200.115) 511.549 327.229. 2.567.920 Miscellaneous Income (Tax deducted Rs.435 Previous Year Rs.252 646.6.092.547.890 Rupees Rupees 739.013 Freight.439 Bad Debts and Irrecoverable Balances written off earlier. 24.545 147.060.784.989 35.750.545.694.840 (Previous year .062 Clearing and Forwarding Services 3.485.550 415.598.159.453 Derivative Contracts .678 32.348.644.320.720 . 226.877.378.025.797 15.518 12.418.862 Sales 224.830.935. 2.176.000 (16) OTHER INCOME Ann-Sofie Scan ApS.396.757 724.383 68.298 43.137 Profit on sale of Investments (net) Other Liabilities 54.716.720 Rent (Tax deducted Rs.730 229.209.948 (12) LIABILITIES Short Term .391 Tax Deducted at Source 508.392.636 64.029 XPS Cargo Services Ltd.818.420 414.100.107.756 (a) Includes Demurrage Rs.854 Previous Year Rs.445.722. 28.325.298 Share of profit in Partnership Firms (b) 1.300 116.394.677 Deposits with Others 78.400 407.626 Logistics and Other Services( Tax Deducted Rs.124 100.666.887 Due from Officers of the Company 6.143 31.700 Unspent Liabilities/Excess Provisions written back 46.241.776 306.212 1.597 4.786 223. realised 6.625 Previous Year Rs.768.139.503.601 Overdrawn Bank Balances 445.290) Gratuity 12.302.750.317. Denmark 9.698 5.269 39.154.305) 607.083.564.676 Previous Year Rs.167.345 59 60 .000.288 (Tax Deducted Rs.057.135 (15) SALES & SERVICES 1.951 1.795 Add: Decrease/(Increase) in Closing Stock 2.551.699.844 413.862 1.258. Miscellaneous Charges etc.540 517.849. (a) Loans and Advances to Subsidiary Companies 166.129) (a) 3.889.993.108. 14.535.538) Advances for Capital Expenditure 46.178 1.041. 110. 509.190.168 Loans and Advances due from Amount Maximum balance Associate and Joint Venture Companies: outstanding during the year Bus Operations 501.237.062.693 862.431 - Customers' Credit Balances 2.348) 1. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS 31st March 31st March 31st March 31st March 2010 2009 2010 2009 Rupees Rupees Rupees Rupees (11) LOANS AND ADVANCES ( Unsecured-considered good) (14) FREIGHT Loans .643 Advances to / Due from Joint Venture Companies 9.556.000) 2.084.000 Short Term (408.923 31.556 (a): Includes for earlier years Rs. 47.366 Due to Directors 643.527.604.187.646 Advances and Deposits with Landlords 87.069.393.381) 13. 3. Shipping Freight and Charter Hire Advances recoverable in cash or in kind or for value to be received 211.13.164 Sundry Creditors 484. 300 Previous year Rs.605 368. 40.394 Sundry Deposits 34.175.009 Previous year.321 4.384 Tax on Dividend 4.542.545.766 593.Rs.468 5.984.072.378.321.823 84.446 12.733.301.131. .608.384. 2.Rs.216.587 4.000 TCI India Ltd.793 Long Term 1492526 177.456.545 6.979.025 (552.602 (Tax Deducted Rs.791.440.811 Interest Accured on Loans 11. 16.414 7.084 Maximum Due During the Year 6.488) There are no amounts due and outstanding to be credited to the Investor Education & Protection Fund (b): Refer note 4 on Schedule 23 (17) COST OF GOODS SOLD (13) PROVISIONS Purchases 145.784.336 11.039.993.473.296.291.

666 718.979 17.876.833.035.277 Printing and Stationery 29.887 Previous year Rs.000 Other Expenses 221. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS 31st March 31st March 31st March 31st March 2010 2009 2010 2009 Rupees Rupees Rupees Rupees (18) OPERATING EXPENSES (20) ADMINISTRATIVE EXPENSES (Contd.359 Others 97.423.969 41. Fuel and Water Charges 119.860.338.139.356.728.432.395 Rates and Taxes 9.865 Port and Survey Expenses 25.Rs.000 11.) Freight 9.115.387.235.101.233.635.248.849.352 134.603 45.666 16.394 Other Services 4.235 250.271 195.395.Rs.791 8.677.238.076.220) (10.117 Less: Interest Received (Tax deducted Rs.732.898 Wages.275.019.361 Remuneration to Directors Tyres & Tubes etc.Rs 1.414 7.576 38.433.Floating Staff 82.505.863 Salaries 26.111 Clearing and Forwarding Expenses 13.735 30.295. Wages & Bonus 549.783 2.865 Commission 7.282 892.000 (21) REPAIRS & MAINTENANCE EXPENSES Contribution to Provident & Other Funds 45.474 Contribution to Employees' State Insurance 13.756.643.947 8.546) (2.700.438.724.000 335.197.010.986.568 (a): Net of Rs.838 Motor Trucks 148.787 6.932 Exchange Rate Difference (net) 329.391 20. Nil) (c ): Includes provision Rs.029.293 Staff Welfare & Development Expenses 91.609 Stores & Spares Parts Consumed 41.452.577 17.000) and professional fee of (19) PERSONNEL EXPENSES Rs.082 Traveling Expenses 95.871 Warehouse Rent 104. 158.486 620.113 Agricultural Expenses (Net) 193.003.864 6.856.968 85.838.346.638 100.931 215.087.500.215.623 (22) INTEREST Telephone Expenses 45.024.014.964.817. 2.443.794.046 12.438 Miscellaneous Expenses (b) 153.957 Other Vehicles 26.911.834 Contribution to Provident & Other Funds -Floating Staff 406.227.503.984 10.815 (20) ADMINISTRATIVE EXPENSES Computers 30.764.Rs.239.445.409.299 519.048 32.356.823 115.505.851 Ships 25.582 Vehicles' Trip Expenses 1.997 Stevedoring and Cargo Expenses 127.297 Tax audit fees 205.894 8.092 Sales Tax (Net) 34.301.250.097 Advertisement Expenses 7.000 to a director for services of a professional nature (Previous year.802.512.316 Remuneration to Auditors Claims for loss & damages (Net) 10.748.405 105.308. 6.512 123.312.867.000.000) 61 62 . 1.624. Nil received on interest rate swap coupon settlement (Previous year .211.473 19.005 295.964.927.161 4.079.723.156.546 Buildings 6. 3.311 Gratuity 17.089 221.290 Postage and Telegram 5.598.199 3. 63.600 87.558 3.823 227.302 69.694.677 Fixed Deposits 621.210 198.646 272.104 447.773 61.932 381.Rs.193) Bank Charges 14.354.015 240.785.190 (Previous year .532 Plant & Machinery 16.337.390.864.726.571 Lease Rent Payments 2.215 179.705 27.442 (a): Includes for earlier years Rs. nil (Previous year .980.673 Fixed Loans (a) 100.711.960.020.322) Salaries.594.315 28.129 Vehicles' Taxes 42.288.200.957 Dry Docking Expenses 18.000 Warehouse Expenses 181.255 126.610.000 13.442 96.520 - Vehicles' and Ship Insurance 16.815 19.764 Power.026 Audit fees 591.121.190 116.927.200.767.914 674.934 Commission 19.569.000 21.202 2.770.473 Rent (a) 122.000) and Rs.610.615.589. Bonus and Other Expenses .648 Insurance 5.574.575.327 Electricity Expenses 25.000 paid to partnership firms in which company is partner (Refer note 4 on Schedule 23) (b): Includes Rs.538.454.382 Loss on sale/discard of Fixed Assets (net) 7.400 13.992 Bad Debts and Irrecoverable Balances Written Off (Net) (c) 9.330.118.931 Legal Expenses 5.795. 246.421.365.293.438. 2.972.635.779 116.459 31.826 Fees 435.376 Charity & Donations 17.531 23.300 paid to a firm in which a director of the company is a partner (Previous year .955.858. 1.657. 110.558 14.

871 Capital Contribution TCI Properties (Delhi) 47.530 The above does not include contribution to gratuity fund and provision for encashable leave.000.379.106 TCI Warehousing (MH) .560 Contribution to Provident / Superannuation Funds 2.500 47.) 2009-10 2008-09 Rupees Rupees TCI Properties Name of Partnership Transport Corporation TCI Infrastructure Total (23) NOTES ON ACCOUNTS Particulars of India Ltd. Exceptional item represents loss on settlement of all outstanding derivative instruments during the year contribution as per particulars below: 63 64 .250.0071 0.000 5.81 lacs and fixed assets are lower by Rs.569 6.827.500. other partners being wholly owned subsidiaries.053.898 Restricted to: 5. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS (23) NOTES ON ACCOUNTS (Contd.500 6.631.55 lacs has been credited and Rs.105.730 1.687 9. 4.0058 0.787 Depreciation as per accounts 267.631.019. 74.000.952 Money Value of perquisites 14.306.205.864.826.284.43 lacs on restatement of such borrowings relating to acquisition of provided on revalued amount 37.The said properties have been transferred as company’s capital 6.021. In other cases Rs.554 Total 128. 156.9858 0.456.826.468 TCI Properties (Guj) 99.699 TCI Properties (NCR) 22.102.185.452.000 1.0045 100 Net Profit computed in accordance with section 309 (5) 709.000 5.0045 0.178.500 2.476 259.558.000 Rupees Rupees Non Executive Directors 1.000.100.827.209 306.029 Commission 19.154 Profit before tax 647.000 17.945.318. Deduct: 3.795.476 259.452 259.099.256 27 27 378.0058 100 Commission payable to: Managing Director – 2% 14.723 Capital profit on sale of Fixed Assets 53. As a result net profit after tax is lower by Rs.687 9.826.638 TCI Properties (South) 99.883 1.178 179. Ltd.236 331.029 2. For commercial development of certain properties.0053 0.000 1.9894 0.154 6.200 18 18 310.000 11. 51.203. five partnership firms have been formed during the year with the company holding major share.401.431 69 69 1.669.505 449.316.000 26.422 2.500 126.52 lacs. Total Remuneration to Directors: Salaries 26. 496. In terms of amendments notified on 31st March 2009 to Accounting Standard 11 (AS 11).112.593 Non Executive Directors – 0.9884 0.000 TCI Warehousing (MH) 26.000 2009-10 2008-09 Executive Directors 9.226 5 5 99. Firm Rupees Rupees Rupees Rupees 1. - Less: Sub Total 1.976 depreciable assets has been credited to the account of such assets.000 21.733 46.476 259.154.593 Executive Directors – 1% each 14. Computation of net profit in accordance with Section 309 (5) of the Companies Act.000 22.380 264.310 Directors’ Remuneration 63.22 lacs on Transfer from Capital Reserve on account of depreciation repayment of foreign currency borrowings and of Rs.585 6. .084.177 TCI Properties (Delhi) 99.560 1.500.308.000.958. 511.883 Directors’ Fees 435.000 1.000 1.554 has been amortised out of the Foreign Currency Monetary Item Translation Difference Account.236 978.554 TCI Properties (Guj) 378. the exchange gain of Rs.991 0. 366.172.000 335.000 TCI Properties (Guj) 14.714 755.976 37.546.631.053.278.000 1.533 11.569 Depreciation under section 350 267.634 TCI Properties (NCR) 99.38 lacs Net depreciation charged in Profit & Loss Account 267.321.569 128.154.0053 100 268. which is actuarially calculated on an overall basis.334 491.078.918 Share in Profit/ (Loss) during the year Add: TCI Properties (Delhi) 366.952 1. 1956 Sub Total 126.185.250.0071 100 TCI Properties (NCR) 99.064 TCI Properties (South) 17.737 % share in Profit/ (Loss) % % % Capital profit on sale of Investments 1.368.769.730 2.200 2.188 TCI Properties (South) 310.726 4.995.749 19 19 366.304.000 14. (Pune) Ltd.000. .5% 3.000 Depreciation for the year 267. The net depreciation charged for the year is arrived at as follows: Managing Director 9.

Singapore (Previous year) • TCI Warehousing (MH) – Partnership firm Share of Profit Received Associates 11. P. Ltd Remuneration and Commission Key Management Personnel 61. List of related parties: Nature of Transaction Nature of Relation Amount (Rupees) i. (TCI) holds 50% of equity. Joint Venture 17. (Transystem) is a joint venture incorporated in India in partnership with Mitsui & Co. Denmark • TCI Global Brazil Logistica Ltda.500.54. Logistics Services Joint Ventures 34.03.. Agarwal) • Mrs Priyanka Agarwal (Wife of Mr.092..620 - Loans Taken Associates . Netherlands • TCI Global (Malaysia) Sdn Bhd. Ltd.50 Associates 128.080 • TCI Airways Pvt.000 • Infinite Logistics Solutions Pvt.921.290 5.200 4.2010 624. 930. Ann-Sofie Scan ApS is engaged in the business of shipping.585 - Transystem Logistics International Private Ltd. Singapore Logistics Services Associates 466.058 192.868.047.904 12.12. • TCI Infrastructure Ltd.634 Ann-Sofie Scan ApS is a joint venture incorporated in Denmark in partnership with a few other shareholders. Subsidiaries/ Step-down subsidiaries 1.788.) b.457..) (23) NOTES ON ACCOUNTS (Contd. P.358 services and TCI provides support services to Transystem.648 • TCI Scan Denmark ApS.600 - • TCI Properties (Pune) Ltd. Transystem is engaged in the business of providing logistics Share Application Money Given Associates .117.Agarwal) iii.000 • TCI Global (Thailand) Co.682 v.378.350 • TCI Industries Ltd • Etralog.817 - • TCI Express Pte Ltd.571. In Million) Finance & Investment: Assets as on 31.2009 150.000 24. (Previous year) Joint Venture 278.03. Relatives of Key Management Personnel 640. Mauritius • TCI Holdings Netherlands B. Japan. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS (23) NOTES ON ACCOUNTS (Contd. Denmark • Transystem Logistics International Pvt.662 116.2009 49.304.178.733 45. Key Management Personnel: 2009-10 2008-09 • Mr D.. Ltd • TCI India Ltd Interest Received Associates 58.606. Ltd.000 630. 12. China • Transport Co of India (Mauritius) Ltd..Vineet .V. Joint ventures: Salary & Perquisites Relatives of Key Management Personnel .803 Liabilities as on 31.796 26. Ltd. in which Transport Corporation of India Ltd.Thailand • TCI Developers Ltd.85 Money Given Associates . in which Transport Corporation of India Ltd. 2. Hong Kong Freight Expenses Associates 12. Ltd.167 • TCI Global Pte Ltd.514 69.2010 257. Germany Subsidiaries/ Step-down subsidiaries 5.12..271 54.743.79 Expenses for the year ended 31.902. Agarwal • Mr Vineet Agarwal Transactions during the year: • Mr Chander Agarwal • Mr K Prabhakar Income: ii. Ltd.12.000 65 66 .992. Singapore • TCI Express Pte. Subsidiaries 110. Mauritius Fuel Purchases Associates 54. Indonesia • TCI Global (HKG) Ltd.118 - • TCI Global (Sanghai) Co.640.240.800. Ltd.100.. 325. Ltd.028.000 Subsidiaries/ Step-down subsidiaries 9.288 Joint Ventures 9. Reimbursement of Expenses Joint Ventures 1.192.082 - Aggregate amounts related to 50% interest of TCI in Ann-Sofie Scan ApS: Amount (Rs.794 • TCI Distribution Centres Ltd.381.058.099. Brazil • TCI Global Holdings (Mauritius) Ltd.com Solutions Ltd.295.12.469. Related party disclosures a..000. Key Management Personnel 768.680 - • Bhoruka Finance Corporation of India Ltd • XPS Cargo Services Ltd Shipping Freight Joint Ventures .555.337 2.673 • Mr Ashok Agarwal (Brother of Mr D.24 Income for the year ended 31.316.2009 64. Malaysia Vehicle Maintenance Joint Ventures 2.616.000 6..292 Aggregate amounts related to 49% interest of TCI in Transystem: Amount (Rs. (TCI) holds 49% of equity. Subsidiaries/ Step Down Subsidiaries: Expenditure: • PT TCI Global.V.013 Subsidiaries/ Step-down subsidiaries 58.480 • Ann-Sofie Scan ApS. Singapore • TCI Global Logistik Gmbh.359. Associates: Joint Ventures 252.387 • TCI Global Logistics Ltd • TCI Exim Pvt. • TCI Properties (West) Ltd.000 Loans Given Associates 2.. Ltd • TCI Distribution Centres Ltd.071 9.569 - • TCI Global Netherlands B.800 - iv..013 5. 1. Netherlands Rent Paid Associates 21.979.84 Investments Made Subsidiaries 105.000 52.720 - Refund of Loans Given Associates 49..431 - • TCI Properties (Guj) – Partnership firm • TCI Properties (South) – Partnership firm • TCI Properties (Delhi) – Partnership firm • TCI Properties (NCR) – Partnership firm Pump Stock Sold Associates 959. Interest Paid Associates .726 • TCI Holdings Asia Pacific Pte.279 • Bhoruka International Pvt.52 Income for the year ended 31.Transactions with related parties: 7.242.937. Relatives of Key management Personnel: Freight Income Associates 1. In Million) Refund of Share Application Assets as on 31.2009 28. 41.

58 1496.37) Loans & Advances Given Subsidiaries / Step-down Subsidiaries 166.09 Trade Payables Associates 4.515 284.95 6078.78.945.36 Liabilities: Global Division 36.091.26 Purchase of Fixed Assets Joint Venture 4.37) (9.670 21.940 .000 - Less: Inter Segment Revenue (40.829 Expenses (7.03 towards Capital Associates 126. Supply Chain Solutions Division 1031.26) (1.500 - XPS Division 3860.310 Trading Division 0. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS (23) NOTES ON ACCOUNTS (Contd.926 Wind Power Division 37.67 Subsidiaries / Step-down subsidiaries 2.893.) 8.80 327.27 31.636.) (23) NOTES ON ACCOUNTS (Contd.435.579 Global Division 84.927.68 Refund of Advances / Deposits Given Joint Ventures .292 Segment Assets Freight Division 1593.154 - 14557. (Net of Income) (195. Segment Information Rupees in millions Nature of Transaction Nature of Relation Amount (Rupees) Divisions 2009-10 2008-09 2009-10 2008-09 Revenue Advances / Deposits Given Associates 1.998 Supply Chain Solutions Division 2478.39 13026.720 .43 1679.86) (45.750.726. Segment Results Freight Division 286.44 1.013 Unallocated Corporate Income net of Unallocated Corporate Trade Receivables Joint Ventures 33. 6.910 4.05 Key Management Personnel 640.750.90 Total Assets 7095.25 3.535.000.248.98 Investments Made Associates 131.36 3469.000 .63 Subsidiaries 147.09 Assets: Supply Chain Solutions Division 164.099.06 699.21 Balances as at the year end: 31st March 2010 31st March 2009 XPS Division 301.66 766.28 106.358 Other Information Subsidiaries 110.979.330 116.120 253.722.500 .25 66.85 Investments transferred Subsidiary and Step-down Subsidiary 49.926 67.35 671.092.544 Real Estate & Warehousing Division 527.455.921.07 Refund of Advances / Wind Power Division 75.92 479.304. Unallocated Corporate Assets 1714.53 40.984.000 Seaways Division 83.657 79.35) (103.874 1.74 13130.38 233.523 .961 Seaways Division 634.408 .79 Transfer of Land & Buildings Real Estate & Warehousing Division 1.000 12.188 .21 96.585 3.41) Investments purchased in subsidiary Associates 12.053 Global Division (22.12 72.817 .29 103.893. Net Income from Operations 14517.356.19 1406.61) (240.26) Associates .910 .000 Wind Power Division 422.90 107.288 Trading Division 2.07 271. Real Estate & Warehousing Division (1.41 XPS Division 93. 1.33 Sale of Fixed Assets Associates 59.47 Segment Liabilities Freight Division 122.874.46 Joint Ventures 173. Trading Division 150.60 67 68 .16 Joint Ventures 67.46 Joint Ventures 278.555. 47. Interest Expenses Associates 686.145.67 Deposits Taken Key Management Personnel 2.11 Key Management Personnel 640.05 2.875.91 Advances/ Deposits Given Associates 14.000 6.02 Joint Ventures 93. Seaways Division 808.000 240.58 Advances / Deposits Taken Key Management Personnel 278.05 449.57 Relatives of Key Management Personnel 240.68) Share Application Profit Before Tax 647.500 Segment Revenue Freight Division 7273.500 XPS Division 961.06 240.33) Subsidiaries / Step-down subsidiaries 1.200.45 Money Given Associates .16 859.38 6896.500 1.

Individual assets whose actual cost does not exceed Rs.13 1. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS (23) NOTES ON ACCOUNTS (Contd. except in case of the Seaways Division where freight income is accounted when the ship sails out of the port.87 390.01 0. Fixed Assets: Net Profit after tax available for equity share holders.83 million.36 158.40 18.14 20. freight received/paid in Real Estate & Warehousing Division 1.93 3.76 ii) Later than one year and not later than five years 84.809.48 Total Capital Expenditure 571.93 3.97 42.47 27. the cost whereof are amortized over a period of five years from the date of purchase. Gratuity: The Company operates mainly in India and therefore there are no separate geographical segments A provision for gratuity liability to employees is made on the basis of actuarial valuation and paid to the approved Gratuity Fund.505.188.500 Unallocated Corporate Liabilities 479. 2. 31st March 2010 31st March 2009 Global Division 2. Freight income is accounted when goods are delivered by the company to customers.230 Total Liabilities 1000. XPS Division 56.64 Global Division 6.91 Inventories are valued at lower of cost and net realisable value. 5.57 a.96 provision is made for all known losses and liabilities.783 5. Earnings per share 3.660 a) Fixed Assets are stated at cost and/or at revaluation. In accordance with Accounting Standard (AS 15) “Employee Benefits”. Freight expenses are accounted when hired vehicles deliver goods to the Company at destination.548. 4.83 41.) (23) NOTES ON ACCOUNTS (Contd. 1956 except for pallets and bins included under plant and machinery.14 .44 12. Diluted Earnings per Equity Share Rupees 5.530 Trading Division . Capital Expenditure Freight Division 68.777 72.00 Investments are stated at cost.518. Year-end liability in respect of claims for loss and damages is provided as calculated by claims recovery agents except in case of the Seaways Division where such liability is provided as calculated by the Company’s claim department.07 e. Contingent liability not provided for in respect of: Supply Chain Solutions Division 204.960 283. Unallocated Depreciation 0. 72.90 a) Trade Tax / Octroi / Duty / ESI and other demands under dispute 19. are fully depreciated in the year of purchase.for Basic and Diluted EPS Rupees 429. Particulars 2009-10 2008-09 Depreciation on additions/ deductions is calculated pro-rata from / to the month of addition / deduction. Weighted average no. Having regard to the size of operations and the nature and complexities of the Company’s business. 72.143 reserve created on revaluation of fixed assets to Profit and Loss Account.) 10. 9. iii) Later than five years 210. the future minimum lease payments as on 31st March 2010 Divisions are: 2009-10 2008-09 Seaways Division 57.39 132.01 d.200 Real Estate & Warehousing Division 0. In respect of assets given under non-cancelable operating lease. Previous year’s figures have been regrouped/ rearranged wherever considered necessary.73 XPS Division 48.48 45. 0.85 advance is accounted as income/expense on payment.30 14.91 7. Recognition of Income and Expenditure: Supply Chain Solutions Division 99.00 47.030 13.27 387.000. Inventories: Basic Earnings per Equity Share Rupees 5. Wind Power Division 27.28 Trading Division .00 2. In respect of assets taken under non-cancelable operating lease. 144. Depreciation: Depreciation is provided on straight-line method at rates specified in schedule XIV to the Companies Act. of Equity Shares for Basic EPS Nos.08 i) Not later than one year 239.13 111.50 752.47 b. . as on 31st March 2010 is Nil.40 Unallocated Capital Expenditure 199.521. except pallets and bins.12 c. Income and expenditure are generally recognized on accrual basis in accordance with the applicable accounting standards and Seaways Division 39.01 98.50 10.40 Real Estate & Warehousing Division 35.71 13.47 22. Global Division 0.47 15. the future minimum lease payments.36 0.93 Total 534.03 Seaways Division 4. 27. Investments Nominal Value of Equity Shares Rupees 2.05 Rupees in million Particulars Wind Power Division .75 93.46 1. - b) Guarantees and Counter Guarantees Outstanding 303.72 - c) Income Tax demands under dispute 154. Trading Division 0.67 (Amount in Rupees) Wind Power Division 4.19 1. 6. Rupees in millions 11. Depreciation Freight Division 50. Foreign ExchangeTransactions: 69 70 .59 15. adequate provisions have been made in the accounts and there is no further liability expected on this account.747 72. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Weighted average no.05 ACCOUNTING POLICIES: 1.640 b) Depreciation on the amount added to Fixed Assets on revaluation is adjusted by transfer of equivalent amount from capital Add: Adjustments for stock options Nos.76 69. of Equity Shares for Diluted EPS Nos.

Provision for current income tax on income from shipping activities is made on the basis of deemed Investments in Subsidiaries & Joint Venture 28.186.671. Datta O.558 Licensed Capacity Units Not Applicable Not Applicable Insurance 3.529.098 6.448 3.808 3.975 145.50 Dry.789 19.684 B.012.359.539 233.606 232.817 - Diesel & Petrol Ltrs.128 100.070.687.55% 34.306 1.859.993.214 40.224.702 1.201.923.227.745. Agarwala Vineet Agarwal Chander Agarwal A. Advances to Joint Venture/ Subsidiaries 58.774.389 Dividend Income 23.990 Accounts & Audit Company Secretary Motor Parts. Earnings in Foreign Currency 150.352 5.113. 1956 Consultancy Charges/ Professional Fees 1.110 Spare Parts 8. K.115 Vice Chairman & Chartered Accountants Chairman Director Director 2.541 1.299.737.847 Other Ship Operating Expenses 3. Annual Report 2009-10 SCHEDULES TO THE ACCOUNTS SCHEDULES TO THE ACCOUNTS (23) NOTES ON ACCOUNTS (Contd. S. 2009-10 2008-09 c) Any income or expense on account of exchange difference either on settlement or translation is recognised in the profit and Amount Amount loss account (Rupees) (Rupees) d) In respect of Forward Exchange contracts entered into to hedge foreign currency risks.319.133 Motor Parts.802. 4. Date : 19th May 2010 Date : 19th May 2010 .545.702 4.442 2009-10 2008-09 Unit Amount Amount Subscription 238. Place : Gurgaon.237 17. In terms of the % ofTotal Amount % ofTotal Amount amendments to Accounting Standard 11 on The Effects of Changes in Foreign Exchange Rates.894.735 Managing Director Closing Stock R.330.316. Nil .541.035 Camp : Gurgaon. Goods Traded Commission 1.025 71 72 .792. Lubricants and Others 254.337. provides for deferred tax based on the tax effect of timing differences resulting from the recognition of items in the accounts and in estimating its current tax provision. Agarwal Motor Parts.504.00% 42.984 1.445. Mehta D.674. 53.035.86% 30.224.057.292.356.578. F-5534) Executive Director Executive Director Group CFO & Sr. 53.252 97.705 230. Exchange differences relating to long-term monetary items.413 Others 1. Bansal N. 4.00% 32. Baranwal Partner (Membership No. K.F.094 52.14% 1.951 balance life of the asset.010.548 - The company.892 The company assesses at each Balance Sheet date whether there is any indication that any asset may be impaired and if such indication exists.Value of Imported & Indigenous Stores and Spare Parts Consumed b) Monetary items in foreign currency at the year end are converted in Indian Currency at the year end rates.S. D. Expenditure in Foreign Currency 8.111 Diesel & Petrol Ltrs.774 Generation of Energy Units 18.417.119.547.679 149.118 2. Provision for current income tax is made on the current tax rates based on assessable income.380.954 A.174 Quantity Quantity Rupees Rupees Interest 37. arising during the year.594 418. Generation of Energy (Wind Mill Project) Staff Training Programmes 1. The effect on deferred taxes of a change in tax rate is Share Application Money .367 Purchases Interest Income 278.187. the carrying value of such asset is reduced to its recoverable amount and a provision is made for such impairment loss in the Traveling Expenses 7.025 1.990 39. Impairment of Assets: Shipping Freight & Port Disbursements 10.509. not beyond 31st March 2011.041 Sale of Energy Units 18.128 866. exchange differences relating to Consumption (Rupees) Consumption (Rupees) long-term monetary items are dealt with in the following manner: i.041 acquisition of a depreciable capital asset are added to/ deducted from the cost of the asset and depreciated over the Indigenous 80. Lubricants and Others 749441 1.500 - Motor Parts.188.Dock Expenses 1. C. Lubricants and Others 361.025 Installed Capacity MWH 11. 2.346 Sales Exchange Rate Difference (Net) 329.011 17.988 3.820 - ADDITIONAL INFORMATION UNDER PART II OF SCHEDULE VI TO THE COMPANIES ACT.743 Signatures to Schedules 1 to 23 Opening Stock In terms of our Report of even date For and on behalf of the Board Diesel & Petrol Ltrs. the difference between the forward rate and exchange rate at the inception of the contract is recognised as income or expense over the life of the contract.550.000 145. Conference & Seminar 604.803 tonnage income of the Company.785.620 For R S Agarwala & Co. ii. Main Engine Break-down Repair 113. 7.50 11. M. 254.757. 7.456.105.324 6.035.529.056.533.) (23) NOTES ON ACCOUNTS (Contd.967.337.067.381 1.) a) All transactions in foreign currency are recorded at the rate of exchange prevailing on the dates when the relevant transactions take place.279 8.890 32.011 74. Taxation: Capital Goods 39.951. In other cases such differences are accumulated in a “Foreign Currency Monetary Item Translation Difference 100.092.444 19.000 229.221 9.802. S. P.124.354 Miscellaneous Income .45% 8.992 Account” and amortised over the balance life of the long-term monetary item. in so far as they relate to the Imported 19.627 E.057.040 Freight Income 74.545.426 95.236.582.I.070. except for its Seaways division.399 profit and loss account. Swaminatha Reddy K.650 recognized in the year in which the change is effected.035 87.938 Provision for tax is made for both current and deferred taxes. Lubricants and Others . C. VP-Group Diesel & Petrol Ltrs.199 3.541 1.110 72.

73 Interest Payments 1983.27 6. P.54) .80 - Proceeds from Short Term Borrowings 4351.54) Net Cash From Investing Activities (6121.28 101.07) Adjustments for : Payment of Dividend Tax (97.2009 1066.28) (101.16) (752.95) (352.66) Partner (Membership No.28 For R S Agarwala & Co.01 9378.34) (29. VP-Group Company Secretary Accounts & Audit Inventories 10.84) (1.76) (4640.53 B.27 1159. Trade Payables 1755. Bansal N. CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets (5712.79) Cash & Cash Equivalent As On 31.S.37 (122.55) (400.74) (3874.48 Loss(Profit) on sale of Investments (10.39) Sale of Investments 621.37) (66.33 Interest Received (27.56 Share of Profit in Partnership Firms Received 11.49) (73.31 2598.39 Net Increase(Decrease) In Cash & Cash Equivalent(A+B+C) 984.22 1228.27 Net Cash From Financing Activities 3216.69) Sale of Fixed Assets 1859.85) (141.05 (168.53 Payment of Dividend (580.03. 400.15 Date : 19th May 2010 Date : 19th May 2010 Cash Generation From operations 7769.81 Managing Director Adjustments For : R. Datta O. Cash & Cash Equivalent As On 31. Mehta D.87 Purchase of Investments (2324. Annual Report 2009-10 CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2010 CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2010 Rs. M.94 Camp : Gurgaon.89 1235.44 4594. S.74 Foreign Currency Translation Difference 125. Swaminatha Reddy K.51 4927.13) (1609. in lacs Rs in lacs Rs in lacs 2009-10 2008-09 2009-10 2008-09 A.54 - Dividend Received 257.56) In terms of our Report of even date For and on behalf of the Board Dividend Income (257.85) C.39) 73 74 .27) Loss (Profit) on sale of Fixed Assets 75.24 Interest Paid (1983. K.73) Loans and Advances (272.34 29. Agarwala Vineet Agarwal Chander Agarwal A.33) Direct Taxes Paid/Refund received (1896.09) 4450. S.93 (102. Baranwal Trade and Other Receivables (5210. Place : Gurgaon.03. F-5534) Executive Director Executive Director Group CFO & Sr.94 1066. CASH FLOW FROM FINANCING ACTIVITIES Proceeds from issuance of Share Capital 20.75) (1013.2010 2050.09 4894.22) (435.60 9821.04 145.34 82.09 Lease Rent Payments (22. in lacs Rs.66 Repayment of Short Term Borrowings (1003. CASH FLOW FROM OPERATING ACTIVITIES Repayment of Long Term Borrowings (1183.85 141.95) Depreciation 2676.76) Loss on Derivative Transactions (692. Agarwal Chartered Accountants Chairman Director Director Vice Chairman & Operating profit before Working Capital changes 11213.32) Net Profit before tax and exceptional items 6763.38 2508.38) (2508.00) Payable against Derivative Transactions .19) (2275.89 Lease Rent Payments 22.59) Share of Loss(Profit) in Partnership Firms (11.38) Net Cash From Operating Activities 3889. K.00 Interest Received 27.99 35.

49) (0. Expenditure Sr.2010 Nil (Step Down Subsidiary) 100.2010 51000 Shares of US$ 10 each 100.99) 3 TCI Global (HKG) Ltd.85) 4 TCI Global (Thailand) Co. 31st March. (ITC Code) Chairman S. Baranwal Vice Chairman & Accounts & Audit Managing Director Balance Sheet Abstract and General Business profile as per part IV. K. Ltd.00 Nil Nil (1. Datta 2 0 Vineet Agarwal Executive Director N I L DD MM VI of the Companies Act.19 18 TCI Properties (Pune) Ltd. 31st March.00 Nil Nil (25. 31st March.Thousand) Director Performance of Company: (Amount in Rs.00 Nil Nil (4. Swaminatha Reddy N I L State Code Bonus Issue Generic Names of Three Principal Products ( as per monetory terms) Total Assets Secured Loans Profit before Tax 6 7 6 3 0 9 Position of Mobilisation and Deployment of Funds (Amount in Rs.26) (4.00 Nil Nil (0. 31st March. 31st March.00 Nil Nil 0.04) (67. 1956.2010 Nil (Step Down Subsidiary) 100. VP-Group Private Placement D.59) 17 TCI Infrastructure Ltd.21) Nil 12 TCI Global Brazil Logistica Ltda 31st March.00 0.06) Nil 7 TCI Global(Sanghai) Co. 31st March. RELATING TO SUBSIDIARY COMPANIES Net aggregate of Profit/ (Loss) of the subsidiary company so far as it concerns the members of TCI Limited which are Interest of the Company in the subsidiary companies at the end Dealt with in the Not dealt with in the of their respective financial years accounts of the Company accounts of the Financial Year amounted to Company amounted to of the (Rupees in lacs) (Rupees in lacs) Sr.00 Nil Nil (4.) Item Code No.43) Nil 11 TCI Scan Denmark ApS 31st December.00 Nil Nil (59. Mehta A.09) Nil 19 TCI Properties(West) Ltd.2010 2610000 Shares of Rs 10 each 60.00 Nil Nil (1. Name of the Subsidiary Company subsidiary For Previous For Previous No. 31st March.92 Nil Nil (0.00 Nil Nil (4. Ltd.2010 Nil (Step Down Subsidiary) 100. 31st March.00 Nil Nil (93. 31st March. 31st March. Ltd.26) (11.26) Nil 21 Infinite Logistics Solutions Pvt.95) 8 Transport Co of India (Mauritius) Ltd.2010 2500 Shares of Mauritius Rupees 10 each 100.2010 18000 Shares of Euro 1 each 100.00 Nil Nil (3.00 Nil Nil (0. 9 3 Public Issue Place : Gurgaon.54) Nil 15 TCI Global Holdings (Mauritius) Ltd.Thousand) Dividend Rate (Interim) % Executive Director Chander Agarwal 2 0 O. company Financial Financial ended on For Years of the For Years of the Extent Subsidiary's subsidiary Subsidiary's subsidiary Shareholding (No. of shares) of Financial Year since it Financial Year since it Holding ended on became ended on became (%) 31st March subsidiary 31st March subsidiary 2010 of TCIL 2010 of TCIL 1 PT. 31st March. Total Liabilities Paid up Capital Registration No.44) (4. TCI Global 31st March.Thousand) Net Current Assets 2 4 8 0 6 9 1 6 2 3 8 6 6 2 2 7 9 0 9 6 3 Director Dividend Rate (Final) % K.00 Nil Nil (97.2010 100000 Shares of Rs 10 each 100.75 5 4 3 2 1 (2 317) N I L Turnover 5 . 31st March.2009 Nil (Step Down Subsidiary) 100.04) 6 TCI Global Netherlands B.2010 100000 Shares of Rs 10 each 100. 31st March. 31st March.50 2 TCI Global Logistik Gmbh 31st March.2010 143700 Shares of Rs 10 each 73.00 Nil Nil (1.2010 Equivalent to Yuan 2054335.00 Nil Nil 0.00 Nil Nil (19.02) (34.2010 Nil (Step Down Subsidiary) 100.36) 14 TCI Express Pte. P.67 Nil Annual Report 2009-10 76 .00 Nil Nil (2. S.14 Nil Nil (0.2010 1020000 Shares of Rs 10 each 51.99) 5 TCI Global Pte.39) 20 TCI Distribution Centers Ltd.2010 38000 Shares of SG$ 1 each 100. Schedule STATEMENT PURSUANT TO SECTION 212 OF THE COMPANIES ACT.90) (153. Bansal Group CFO & Company Secretary 0 1 4 5 N I L Profit after Tax Unsecured Loans 2 3 5 6 5 6 4 3 4 4 9 0 Misc.2010 Nil (Step Down Subsidiary) 100.00 Nil Nil (31.00 Nil Nil (76.1956 Rights Issue Investments 1 9 1 1 6 For and on behalf of the Board 3 5 7 1 1 0 Total Expenditure Reserves & Surplus YY 3 0 8 5 0 6 7 Foreign Currency Monetory Item Translation Difference 1 3 8 6 9 8 7 8 3 1 0 3 2 0 1 0 Production Description Capital raised during the year (Amount in Rs. V. Date : 19th May 2010 Net Fixed Assets 1 4 5 0 5 6 2 9 2 1 9 2 Sources of Funds: Balance Sheet Date 3 0 9 2 9 0 6 6 2 3 8 6 6 2 Application of Funds: Deferred Tax Liability Registration Details: 1 4 5 4 6 1 8 7 Earning per Share (in Rs.V.2010 Nil (Step Down Subsidiary) 100. K.94) (21. Agarwal N. M. 31st March.2010 Nil (Step Down Subsidiary) 100.22) Nil 10 TCI Global (Malaysia) Sdn Bhd 31st March.63) Nil 13 TCI Holdings Netherlands B.2010 Nil (Step Down Subsidiary) 100.14) Nil 16 TCI Developers Ltd.09) (2.2010 Nil (Step Down Subsidiary) 100. 31st March.00) 9 TCI Holdings Asia Pacific Pte. Ltd. Ltd.2010 50000 Shares of Rs 10 each 100.84) 4.12 100. Ltd.

26) 0.84) (0.6064 1.14) (0.004962 60.5204 32.26) 0.71) (3.82 2.00 5. Firm’s Regn. An audit includes examining on a test basis.94 432.23 9.09) (25.09) (25.49 0.09) (0. 31st March 0.06 Nil 567.03 34.3978 32.84 161. 12 TCI Global Brazil Logistica Ltda Chartered Accountants 13 TCI Holdings Netherlands B. Ltd.110. (a) Excluding investment in subsidiaries Financial Year ended 31st March 2010 Paid-up Capital 113. Ltd. date Reserves (27. Nil and net loss of Rs. Our MUR Euro HK$ Euro Euro Yuan Baht SG$ SG$ SG$ US$ US$ US$ US$ INR INR INR INR INR (b) The annual accounts of subsidiaries and step down subsidiaries with related detailed information are available for inspection by the members responsibility is to express an opinion on these financial statements based on our audit. We report that the consolidated financial statements have been prepared by the Company’s management in accordance with the requirements of the Accounting Standards (AS) 21. V. read together with paragraph 2 above.01) (250.0301 (*) 46.00 434.71 160.01 12.45 283. 2010 Membership No. PT. TCI Global Pte.96 12.54) (4.21 14. of the cash flows of the TCI Group for the year ended on that date.44) (1.F-5534 1 2 3 4 5 6 7 8 9 77 78 .84) (4. TCI Global(HKG) Ltd.94) (1.96) (c) In the case of Consolidated Cash Flow Statement. TCI Global Netherlands B.04) (59.44 5.00 (0.54) (4. Annual Report 2009-10 AUDITORS’ REPORT ON CONSOLIDATED FINANCIAL STATEMENTS (Rupees in lacs) To The Board Of Directors Of Transport Corporation Of India Ltd.41 396.00 10.49 11. 4.84) (4. S.89) (94.82) (0.09) (25.91 761. Name of the Subsidiary 19 TCI Properties(West) Ltd.1979 60.17 97.5895 32.00 (0.65 Nil Nil Nil Nil Nil Nil Nil Nil Nil 0.82 lacs for the year ended on that date have not been audited.59 Total (b) In the case of Consolidated Profit & Loss Account. dividend 1. issued by the Institute of Chartered Accountants of India.43) (3.71 629.34) (15. These Financial Statements are the responsibility of the Company’s management.09) (2.02 2.39 258. Agarwala Camp: Gurgaon Partner Date: 19th May.0301 60.20 1.7998 1.02 12.26) (76.33) (4.37 15.04) (59. TCI Global(Sanghai) Co.8936 45.61 108.72 0. Ltd. An audit also includes after tax RECEIVED UNDER SECTION 212 (1) & (8) OF THE COMPANIES ACT.38) Profit/ (Loss) assessing the accounting principles used and significant estimates made by management.03 1. We conducted our audit in accordance with the auditing standards generally accepted in India. (Mauritius) Ltd.1979 45. 15 TCI Global Holdings 16 TCI Developers Ltd.90) (2.44) (1.63) (19. Consolidated Financial Statements. 2010.91 3.01 10.66 lacs as at 31st March 2010.14) (0.06) (93.43) (4. The financial statements of the subsidiary company and joint venture companies have been audited by other auditors.78 104.02) (97.77 716.06) (93.94) (1. as well as evaluating the overall financial statements presentation. Transport Co of India 14 TCI Express Pte.94) (1.50 5.77 3.12. of the profit of the TCI Group for the year ended on that at the registered / corporate office of the company. 304045E 11 TCI Scan Denmark ApS 17 TCI Infrastructure Ltd. we are of the opinion that the attached Consolidated Financial Statements. Those Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil standards require that we plan and perform an audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.32) (4.34 5.00 (a) Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Based on our audit and on consideration of reports of other auditors on separate financial information of the components. No. the Consolidated Profit and Loss Account and the Consolidated Cash Flow Statement for the Proposed Currency Rupiah STATEMENT REGARDING SUBSIDIARY COMPANIES IN TERMS OF THE EXEMPTION year ended on that date.38) Profit/ Investments Turnover (Loss) 3.5895 5.72 Nil 122.26) (76.1979 45. (the Parent Company) and its subsidiary companies and joint venture companies (collectively called ‘the TCI Group’) as at March 31. Ltd.51 15.02) (97.0301 rate as on Exchange 31. (31. Provision for Tax Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil 2.85 3.09 6.21) (4.39 and fair view in conformity with the accounting principle generally accepted in India: Total (a) In the case of Consolidated Balance Sheet of the state of affairs of the TCI Group as at 31st March 2010 and 216.45 228.37) (24.89) (3.91 135. 37. Ltd. 31. V. We believe that our audit provides a reasonable basis for our opinion.11 77.47 5.43 2.38 940.22) (1.60 0.43) (3. TCI Global R. The financial statements of certain subsidiaries which reflect total assets of Rs.94 For R S Agarwala & Co. total revenue of Rs.68 316.09 2010/* We have audited the attached Consolidated Balance Sheet of Transport Corporation of India Ltd. TCI Global Logistik Gmbh 18 TCI Properties (Pune) Ltd. whose reports have been furnished to us and our opinion is based solely on the reports so before tax furnished.21 0. evidence supporting the amounts and disclosures in the financial statements.31 Nil Nil Nil 4. give a true Assets Liabilities 129.81) (143.53 24.15 92. 10 TCI Global (Malaysia) Sdn Bhd 20 TCI Distribution Centers Ltd.33 683.71 4.74) 1.82) (0.63) (19. and to the best of our information and according to the explanations given to us. TCI Global (Thailand) Co. (Mauritius) Ltd.58 100.70 221.19 4.21) (4.120.5895 6.00 860.22) (1. TCI Holdings Asia Pacific Pte.05 1.54 11.621.95 (0.54 223.17 2.85) (115. 1956 (31. 581.14) (4.66 10.22) (1.09) (0.90) (2.

592.908.606.630 Less: Current Liabilities And Provisions Tax on Dividend 10.367 550. M.017 .490 145.558.755. F-5534) Executive Director Executive Director Group CFO & Sr.713 (989.870) (434.473 2.111.256 Balance Carried to Balance Sheet 189.610.437.416 - 4.399.59 Total Assets (net) 6.051.585 Notes on Accounts 23 Schedules referred to above form part of the Profit and loss Account.580. Schedules referred to above form part of the Balance Sheet. K.000 16.342 Translation Difference Account (2.500.967.508. Mehta D.005.679.158.011.295.340.168 APPROPRIATIONS: Loans and Advances 11 1.000. Bansal N.552.266.611.922.552 2.241.894.989.131.586 Operating Expenses 18 12.279 Deferred Tax Liability 5 296.218 Total Funds Employed 6.759. Place : Gurgaon.471.180.392.559 517.981 Provision For Tax .168.283.564 13.205.999.729 Proposed Dividend 32.612.205.576.362.796.415.645 860. Bansal N.006.036 Profit Before Tax 652.759.294.933.276.967.043.215. Agarwala Vineet Agarwal Chander Agarwal A.392.845.122 2.000 Less: Depreciation 1.263.683.737.123 838. Agarwal For R S Agarwala & Co.851 365.Current 226.430. K.371. Company Secretary Accounts & Audit Camp : Gurgaon. S.409. VP-Group Company Secretary Accounts & Audit Camp : Gurgaon.Note 5 on schedule 23) 296.189.541.Deferred 8.735 696.825 185.963 3.177.585 Interest (Net) 22 191.763 Administrative Expenses 20 647.531 1.031. Agarwala Vineet Agarwal Chander Agarwal A.203.794 Personnel Expenses 19 752.071 Capital 1 145.237 106.800 Foreign Currency Monetary Item Profit After Tax 417.639.848.698) Current Assets.967.958 3.789 2.715 761.225 5.096 Cash and Bank Balances 10 382.924.336. Mehta D.472 Gross Block 4.263.971.141 Interim Dividend paid 29.208 Cost of Goods Sold 17 147.793 LOAN FUNDS EXPENDITURE Secured Loans 3 2.788.905) Investments 7 40. Place : Gurgaon.767.369.953.953.096 (To the extent not written off or adjusted) Earning per Share . Date : 19th May 2010 Date : 19th May 2010 Date : 19th May 2010 Date : 19th May 2010 79 80 .110.601.582.565.325.164 .023 15.611.929.944.730 229. P.472 Capital Work-in-Progress 153.860.321 Fixed Assets 6 Profit Before Tax and Exceptional Items 681.280 Sales & Services 15 754.610.181.100 Taxes for earlier years (4.355.154. P.Fringe Benefit .350.000 212.69 4.027 510.S.036.963.235 3.536.000.771 211.212 159.727.859 1.132 Balance brought forward from Previous Year 211.340.574. Swaminatha Reddy K.S.650 744.225 5. Agarwal Chartered Accountants Chairman Director Director Vice Chairman & Managing Director Chartered Accountants Chairman Director Director Vice Chairman & Managing Director R.196 Goodwill on Consolidation 2. Datta O.259.066.234.809.064 242.000 Provisions 13 411.453 Unsecured Loans 4 236.499.498) 25.924.661.558. S.123 - 14.976 7. VP-Group Partner (Membership No.245 3.788 Net Block 3. S.476 287.716.500.743 Other Income 16 31.941 Net Current Assets 2. M.288 Balance Available For Appropriation 623.296. Baranwal R.194 12.Basic and Diluted Preliminary Expenses 2.127. F-5534) Executive Director Executive Director Group CFO & Sr.637.863 296.720 70.498. Datta O.559.110. K.127.468.000.133.460.665.559 517.493.866 119.778 9.277 32.825 Miscellaneous Expenditure 623.330.809.599.255.197 13.075.131.342 3.703.005 Repairs and Maintenance Expenses 21 289.461 2.272 473.541. In terms of our Report of even date For and on behalf of the Board In terms of our Report of even date For and on behalf of the Board For R S Agarwala & Co.169 APPLICATION OF FUNDS Depreciation (Net .603 666. K. Swaminatha Reddy K.827 2.179 Minority Interest 47.604.764 Reserves and Surplus 2 3.396 70. loans And Advances Minority Interest (22.931.048 (Note 9 on Schedule 23) 5.873 4.700 Liabilities 12 756.508 10.370.473 General Reserve 350.725.770 Sundry Debtors 9 2. 19. Annual Report 2009-10 CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH 2010 CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2010 31st March 2010 31st March 2009 Income Schedule Rupees Rupees Rupees 31st March 2010 31st March 2009 Income Schedule Rupees Rupees SOURCES OF FUNDS Shareholders' Funds Freight 14 14. S.247.348.966.661.824 Exceptional Items 29.150) 10.011. Baranwal Partner (Membership No.317.102 333.739.682 Inventories 8 10.479.997 17.614 Tonnage Tax Reserve 12.208 3.694 318.340 40.793.460.291 285.993.743.

000.208 Others 407.743 236.000 .168.300.606.000 1.466 1.504 lacs) Exchange Difference on Consolidation 4.910 Shares paid in cash 42. 2 each fully paid up : Previous year Rs.198.599.000 350.997.86.993.163. 631.000 (e) .000 Short Term Loans and Advances Tonnage Tax Reserve 90.976 (a) 145.045.043 145.000 specified properties of the company and of a wholly owned subsidiary 821.435 (d) 6.892.000 Against hypothecation of Motor Trucks/Trailers/ Axles/ Motor Cars/ Containers and all movable assets and book 500.110.100 each 50.800) the Income Tax Act.000 debts of Wind Mill projects and equitable mortgage of 250.000.900.922 Issued.113.670 102.702 1.157 1.000.39.000.310.158. . 2 each have been issued on vesting of emloyees/ stock options.369 - Equity Shares of Rs.000 19.430. .237 106.400 options and 43.614.860.500. 100.898 - Previous year Rs.058.000.771 211.452 .034.892. 17.wages and bonus includes Rs.667.000.610 Foreign currency loans secured by first charge 51.381 (Repayable within one year Rs.203.00 (e) .214.012.845 - Capital Reserves: Previous year Rs.650.398) 145.000 Fixed Deposits (a) 5.428. 37.211.655.670 (Repayable within one year Rs.200 options will vest in the year 2010-11.000 250. Inventories.918 Revenue Reserves: (4) UNSECURED LOANS General Reserve 1.825 Others 410.2.700.486.825 Redeemable Non-convertible Debentures 230.500.392.058.612.758.195.loans to the extent of Rs.446.754 Less: Hire Charges allocable to future instalments (219. which is amortised on a straight line basis over the vesting period.000 50.574.080) Revaluation Reserve 145. specified immovable properties 1.019 Working Capital Loans from Banks: Share Premium 628.000 Preference Shares of Rs.000 Commercial Paper .290 Against hypothecation of Book Debts.182.300.549.902.000 . 1.000 90.574.152) 21.712.989.349.304 10.815 407. (d) Transferred to Share Premium on vesting of stock options during the year.635.031.434.452 In addition. immovable assets and book debts of Wind Mill Projects.820 5.909) 667.019 . 2011-12 and 2012-13 respectively.being amortisation of deferred employee compensation.178.845 1.4.486.500. and all moveable/ immovable assets and cash as per the Schemes of Arrangement/ book debts of Wind Mill projects and equitable Amalgamation duly approved by the Hon'ble mortgage of specified properties 333. 72.857.263.011.400 options. (e) Transferred from Profit and Loss Account 81 82 .648.058.933. 7.740 628.000 2.000 Profit and Loss Account 189.702 lacs (previous year Rs.315 Andhra Pradesh High Court 102.820 42.252.000 Equity Shares of Rs. Of this 62. 19.576.960.145.000 - 3.081.000.000 .171 450. 407.700.000 200.771 1.000.118 715.785 1.450 (b) . Subscribed and Paid up: (Repayable within one year Rs.280 Term Loans from Others: Secured by equitable mortgage of specified During the year 22605 shares of Rs.118.552 2.417 583.536.000.131.Previous year Rs. 3. 1.586 (a) Transferred to Profit and Loss Account being depreciation provided on revalued amount (b) On vesting of stock options (a) Includes Rs.000. immovable properties and hypothecation of The Company has granted options under the Employees' Stock Options Scheme and 178.000 12.633 78. 47.150. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS 31st March 31st March 31st March 2010 31st March 2009 2010 2009 Rupees Rupees Rupees Rupees (1) SHARE CAPITAL (3) SECURED LOANS Authorised: Term Loans from Banks : 100.000) (c ) In respect of options granted under the Employees' Stock Option Scheme and in accordance with the guidelines issued by Securities and Exchange Board of India the accounting value of options (based on market value of share on the date of grant of options minus option price) is accounted as deferred employee compensation.257.000. 19.290 2.062. 107.Consequently salaries.963. .120 Reserve under section 33AC of (Repayable within one year Rs.400.400.665 Capital Redemption Reserve 19.473 2. 1961 47.322.876.000.000.000 from a director (Previous year Rs.000.235 (c) 1.000 47.335 Shares allotted for consideration other than on one ship. Fixed Deposit Receipts and equitable mortgage of Employee Stock Option .000 .490 145.000. 30.925 (2) RESERVES & SURPLUS (Repayable within one year Rs.178) At 1st April Additions Deductions 2009 Secured against equipments under Hire Purchase Contracts 887. Previous year Rs.479. 2 each 200.000 options are outstanding as on 31st March Motor Trucks and Containers and all movable/ 2010.997.700.800 .373 - Share Application Money 75. 102.066.000.400.655. 86.

597.981 126.000 Reliance Mutual Fund .000.466 467.031 15. .342 982 1. Market value of quoted investments 10.094. and Machinery 1812 shares received as bonus during the year) Computers 210. Ltd.843.444.977.000 Previous Year 4. of Rs.000 200.593 11. . .938.945.000 3.000 (Redeemed during the year) Total 4.363. 1.981 ICICI Prudential Infrastructure Fund .126 3.193 respectively aggregating Rs.000) XPS Cargo Services Ltd of Rs.048.909. 596 20. 144.465.915.820 Gati Limited .991. .793.416 28.725.251.672.112.958 38.083.436.240 125. 4.810 Investments acquired and sold during the year: on restatement of the said borrowings (refer note 4 of Schedule 23) Mutual Funds' Units .141 .976 in respect of the above revaluations. Ltd.735 606.925 234.088.380.538 296.000 Fully Paid Equity Shares . 10 each 25.850 33.552.123 857.927 216.753 5. 194.200 1.358 by Rs. 199.788 .since allotted .847.228.132 1.706 JM Basic Fund 149. of Rs.892.000.624 2.688.249.000 250.415 21.631 626.000 20.021.476.578 and Rs.793.393 31.720.989 1.796 68.04.183.134 1000 1.142. 1.3.145.000 Chain Pulley (Redeemed during the year) Capital Work -in-Progress 119.000.266 Infosys Technologies Ltd.866 .000 300.325.369. .627.262 665.328.175. 10 each 20.624. .785.514.049 153.243.476 287.2009 ment on Total March March of Assets 01.266 16.208 - Reliance Diversified Power Sector Fund .747 .316.618 159.000 Ann-Sofie Scan Shipping Ltd.368 5.294.941.147.450.037 1.461 157.752.371.850.132.843.574.467.406(d) 9.903 420. 31st 31st Redeemable non-cummulative preference shares Description As at during during Up to For the Balance 31.922 1.584 25.122 15.218.015.535 8.852.166 292.062.763 Bhoruka International Pvt. - Additions Deductions Adjust.) Fittings Mutual Funds' Units: Office 62. .683 136.763 10. 1.000 149.109 9.445.531.273 116.) (Nos. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS 31st March 31st March 31st March 2010 31st March 2009 At 1st April Current year 2010 2009 Quantity Quantity 2009 Rupees Rupees Rupees Rupees (Nos.324.206 4.079 19.870 74.705(e) 657.5) (6) FIXED ASSETS 29. .879. .480.000.806 108.000.694.234 774.572.434. .881 13.773.839 91.995.020 2400 3.665 423.429.195 19.233.468 5.640 (1200 shares sold during the year) Ships 881. 280.536 197.880.805 1.759.531 3. 13000 1.033.433 .164 Edelweiss Capital Ltd of Rs.03. 223.164 (b) Depreciation for the year includes Rs.172 59.453.Quoted: LIC Mutual Fund Liquid Fund .000 25.078. 10 each .771 was transferred to Capital Reserve.329.990 126. 10 each 3. 850.000 200.785. .096 1.739 1.826.110.000 SBI Liquid Fund Liquid Plus . 5 each 1.000.022.655 Weighing 4.285.506.183.110.000) (4.242 252.883 120.537 Containers 135.342 Motor Trucks 1.508.934 92.061 being exchange gain on repayment of related foreign currency borrowings during the year and Rs.985 5.Money Manager Fund .419.105 67.Quoted Reliance Industries Ltd.260. .276 697.com Solutions Pvt.265.468 33.964. .500.511. 15.558.126 - (eqivalent to US $ 546516.334.431.257.033.869.294.426 5.565 198.415.322 in Reliance Industries Ltd.493 10.000) (129.213 7.866 62.866 119.083.041.000.969 2.516 120.665.987 74.626.223.421.513 58.746 110. of Rs.944.909 61.119 26.000) (5.151 27.617.173.515 597.105 67.000 .767.106 9.632 .320.970.336.779 48.806 NOTES: Share Application Money pending (a) A part of the Land & Buildings were revalued during the year ended 31st March 1999 and the resultant increase in the value of assets allotment .489.000 296. 850. 145.133.000 1. 10 each 982 1.835.985.805 707.040 51.238. Note: The diminution in the market value of quoted (d) Includes interest of Rs.565 Reliance Petroleum Ltd.512.720.238.000.851 5. 25.619 263.775 51.000.524 476.407 . 300 355.225. 3. 36.992.763 tax depreciation Fully Paid Equity Shares of Joint Stock Companies: Unquoted - Disallowances under Income Tax Act (4.000 Scales & SBI Magnum Equity Fund .692.669.236.997 Equipments UTI Balanced Fund 3.527 744.107 (converted in to 812 equity shares Furniture & 113.015 6.154 4.371.659.642.199 capitalised investments is considered temporary (e) Includes Rs.058.369.597 114.788 296.335.333 678.243.039 Buildings (c) 489.032.000. 98.233 Vehicles 93.504 150.584 71. 148.364.892.000.720 35.377 (812 shares allotted on conversion of Plant and 602.971.493.549.666 25.753 5.606 409.207 6.655 3.017 (Redeemed during the year) 10.622.697 36.311.025.274.111. .801) (226.000 Other Items (226.000 250.498. 40.158 Reliance Industries Ltd.801) (1. 10 each 300.925 83 84 . of Rs.250 130.022 102.514 302.628. 10 each Deductions 2010 2009 Non-Trade Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees Quoted - Land 834.922.2009 the year the year Year of Rs.638 68.704.920.020 2.451. of Rs.534.) (5) DEFERRED TAX LIABILITY (7) INVESTMENTS (At Cost) Deferred Tax ( Asset ) Liability Long Term Investments Trade: Difference between book and 292.639.399 35.012 494.851. . 14.277 292.041 71.864 200.083 235.617.756 89.006.818 8.347.000) Etralog.853.521.277 32.725 853.922.122 1.407 834.672 5.108.828.804. 153.815 (c) Buildings include those on leasehold land.564.229.000) (1.486.000 Fully Paid Preference Shares of Joint Stock Company AT COST OR VALUATION DEPRECIATION NET BLOCK XPS Cargo Services Ltd 50000 500.759.925 8.37.734 equity shares in Reliance Petrolium Ltd.000 3.

725.943 79.509 68.778 9.433. 54.283.494 7.658.083.851 365.107 Deposits with Others 83.497 TCI India Ltd.469.905.384.646.987 Other Consumables 2.894.925.013 Less: Provisions for bad and doubtful debts (3.038 106.461 2.992 Cheques in Hand 1.Considered Good 2.126.646.082.000 Others .934 Unpaid/Unclaimed Dividend 5. 2.799 Taxation (Net of payments) 336. In Unpaid Dividend Accounts 5.621) (7. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS 31st March 2010 31st March 2009 31st March 2010 31st March 2009 Rupees Rupees Rupees Rupees (8) INVENTORIES (11) LOANS AND ADVANCES (Unsecured-considered good) (As taken.272.112.768 5.051.134 Ship fuels & consumables 8.384.982.035 Advances and Deposits with Landlords 87.062 Outstanding for more than six months - Loans and Advances due from Amount Maximum balance Considered Good 76.175 1.378 There are no amounts due and outstanding to be credited to the Investor Education & Protection Fund.924 2. .750. .203 122.560.000 14.396 70.651 76. 254.247.082 2.471.886.000 2.998 5.791 Associate Company: outstanding during the year Rupees Rupees Considered Doubtful 3.000 Cash and Cheques in Transit 2.644.039 In Current Accounts 176. 1.844.180.848 .454.465.174.322.137 Cash in Hand 5.534.425.445.804 Customers' Credit Balances 4.640.137.092.271 With Other Banks : (13) PROVISIONS In Current Accounts 22.176.908. 14.961.212 15.000 a) Some of the fixed deposit receipts are deposited with Banks against borrowings and guarantees issued.965.317. Leave Encashment 24.483 Motor Parts.692 At lower of cost and net realisable value Advances recoverable in cash or in kind or for value to Diesel and Petrol . Lubricants and Others . 40.312 .809 13.917.141 Due from Officers of the Company 6.786 Other Liabilities 62. Due to Directors 643.259.863.603) 2.537 80.279 7.217.547.317.935.990 be received 228.133.132 Tax Deducted at Source 510.554 In Deposit Accounts 973.391 Derivative Contracts .599.743 31. Interest Accrued on Loans 13.035 13.232.637.127.437. 47.922 - Gratuity 12.071 Proposed Dividend 32.840.670 10.831.496 41.328.951 1.194.228.621 7.520.272 473.466 7.321 4.614 In Deposit Accounts (a) 167.559.269 756.140.165.997.100.972.333 Tax on Dividend 5.566.303 2.278 33.802.726.605 368.750.084.498.891 TCI Distribution Centers Ltd.116.288 (12) LIABILITIES Sundry Creditors 634.valued and certified by the Management) Loans .448.053.859 85 86 .715 761.441.683.217.838 84.794.535 (10) CASH AND BANK BALANCES Overdrawn Bank Balances 445.931.743.534.100 .333.470 224.838 With Scheduled Banks : Sundry Deposits 35.603 XPS Cargo Services Ltd.626 (9) SUNDRY DEBTORS (Unsecured) Maximum Due During the Year 6.777 366.307. Advances for Capital Expenditure 217.510 411.587 414.321 4.000.

176.057.540 517.717 Bad Debts and Irrecoverable Balances written off in earlier years.884 11.616. Bonus and Other Expenses .737 432.247.657.998. Fuel and Water Charges 119.758 Short Term (408.596.28.Floating Staff 82.039.890 Stores & Spares Parts Consumed 41.757 63.412.680.546 Add: Decrease/(Increase) in Closing Stock 2.086.737. 723.876.443.604.676 Previous Year Rs.110.019 Profit on sale of Investments (net) Gratuity 18. (a) Freight 9.158 12.063.559 ( Tax Deducted Rs.967.071 Warehouse Expenses 181.145.113 Stevedoring and Cargo Expenses 140.912.601.500.826 (a) Includes Demurrage Rs.703.948 Short Term .483.603.853.849.454 Unspent Liabilities/Excess Provisions written back 446.084.705 230.280 Previous year . 226.791.720 70.956.772.Rs.320.503.118.488) (20) ADMINISTRATIVE EXPENSES (17) COST OF GOODS SOLD Rent (a) 127.932 381.423.686 87 88 .115) 526.193 Travelling Expenses 104.279 31.000) 9.966.243.594 43.545.033 8.650 744.887 Commission 7. Wages & Bonus 578.510 147.175.811 Contribution to Employees' State Insurance 14.764 Port and Survey Expenses 25.631) 224.767.823 115.547.889 13.10. 10.760.369 Power.511 12.904.366 Contribution to Provident & Other Funds 46.164 (19) PERSONNEL EXPENSES Miscellaneous Income (Tax deducted Rs.330.025 (552.246 538.860 Wages. 24.942 11.127.665.754 Previous Year Rs.116.925 21.348.527.175 (Tax Deducted Rs.183 Clearing and Forwarding Expenses 125.037.828.622.735 696.968 92.472.393 (15) SALES & SERVICES Claims for loss & damages (Net) 10.993.051 Salaries. 13.252 811.577 17.373.027.348) 1.418.588.022.743 Rates and Taxes 10.254 Dividends on Investments: Long Term 10.040.212 1.892 Clearing and Forwarding Services 3.505. realised 6.299 752.911.136 Staff Welfare & Development Expenses 95.342.Rs.776 306.729.331 Long Term 1492526 177.460.453 Telephone Expenses 48.531 23. 115.706 12.069.115. 300 Previous year Rs.255.918.190 116.840 (Previous year .183 Logistics and Other Services Vehicles' Taxes 47.542.739.571 Bus Operations 501.246.505.178 1.927.312.442 96.806 42.003.603 8.796.578 Vehicles' Trip Expenses 1.767.237. 6.679.026 Sales (Including sale of carbon credits Rs.785.194 12.054.326 229.244.048 32. Miscellaneous Charges etc.538) Other Expenses 239.618 Vehicles' and Ship Insurance 18.493 Warehouse Rent 104.Previous year .597 5.989 35.485.558 (Tax Deducted Rs.000 (16) OTHER INCOME Contribution to Provident & Other Funds -Floating Staff 406.435 Previous Year Rs.903.387.618. 70.131.980 Printing and Stationery 30.301.636 89.632. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS 31st March 2010 31st March 2009 31st March 2010 31st March 2009 Rupees Rupees Rupees Rupees (14) FREIGHT (18) OPERATING EXPENSES Freight.381) 13.551.661.526 1.488.290) Insurance 5.046 50. 2.610.997 7.546. Nil .456. 2.476 128.148.559 Shipping Freight and Charter Hire Tyres & Tubes etc.529.039.069.502 5. 3.078.574.958 (a) Includes for earlier years Rs.129) (a) 4.060 120.927.992 754. 16.511 2.730 229.069.428 Previous Year Rs.932 Rent (Tax deducted Rs.245.802.821 32.299.214 107.072.305) 607.934 14. 200.404 Purchases 145.124 6.

883 9 TCI Holdings Asia Pacific Pte.603 666. India 100% Subsidiary Ships 25.997 5 TCI Global (Thailand) Co.022. TCI Global Indonesia 100% Step-down Subsidiary Bad Debts and Irrecoverable Balances Written Off (Net) (c) 10.520 - Sales Tax (Net) 63.661 Advertisement Expenses 8.179.395.200.233.V.000) and professional fee of 13 TCI Holdings Netherlands B.693.979 31.Rs.175 Fixed Deposits 621.085.931 215.871 Commission 19.423) (19.532 21 TCI Properties (West) Ltd.302 69.197.960.609 2 Transystem Logistics International Pvt. Ltd.669 58.639. 2.135.161. 110.033 19.) (22) INTEREST Legal Expenses 9.179 10 TCI Global (Malaysia) Sdn Bhd Malaysia 100% Sep-down Subsidiary 11 TCI Scan Denmark ApS Denmark 100% Step-down subsidiary (a) Includes for earlier years Rs.791.Rs.92% Subsidiary Computers 31.381.295.906 18 TCI Developers Ltd.983.000) Salaries 26.805.850.298 6 TCI Global Pte Ltd. Audit fees 1.743) 8 TCI Global Netherlands B.339 Postage and Telegram 5.483 573.040 (23) CONSOLIDATED NOTES ON ACCOUNTS Fees 435.120 28.992 20 TCI Properties (Pune) Ltd.492) Miscellaneous Expenses (b) 171.000. Thailand 100% Step-down Subsidiary Charity & Donations 17.637.122.860. Name of the Company Consolidated as Incorporation Shareholding Other Services 4.Rs.000) 12 TCI Global Brazil Logistica Ltda Brazil 100% Step-down Subsidiary (b) Includes Rs.801.384.703.838. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS 31st March 2010 31st March 2009 31st March 2010 31st March 2009 Rupees Rupees Rupees Rupees (20) ADMINISTRATIVE EXPENSES (Contd.089 221.009.542 120. Ltd. 1. 158. Ltd.114 27.300 paid to a firm in which a director of the company is a partner (Previous year .224. 7.678 Fixed Loans (a) 103.131.325. nil received on interest rate swap coupon settlement (Previous year .744.290.781.791.340 (Previous year . Netherlands 100% Subsidiary Rs. India 60.924 2. China 100% Subsidiary (21) REPAIRS & MAINTENANCE EXPENSES 17 Transport Co of India (Mauritius) Ltd.064 242.V.444 Others 99. Ltd.016 (15.014 16.654 19 TCI Infrastructure Ltd. Singapore 100% Subsidiary (c) Includes provision Rs.082 Electricity Expenses 26.795.129 Sl.985.443 Less: Interest Received (Tax deducted Rs.020.514 7.380.972. Singapore 100% Step-down Subsidiary Loss on sale/discard of Fixed Assets (Net) 3.000 21.995.243.498.200.330 20. India 100% Subsidiary Other Vehicles 26.500.952 11. Singapore 100% Step-down Subsidiary 647.546) (11.925. Mauritius 100% Subsidiary 16 TCI Global (Sanghai) Co. India 49% Joint venture 3 PT.240 Bank Charges 15.181 31.636. 2.169 Remuneration to Directors (a) Net of Rs.742.117 527. India 100% Subsidiary Dry Docking Expenses 18.605 24 TCI Properties (Guj) India 100% Associate Partnership Firm 289.120 4 TCI Global (HKG) Ltd. 246.218 25 TCI Properties (South) India 100% Associate Partnership Firm 26 TCI Properties (Delhi) India 100% Associate Partnership Firm 27 TCI Properties (NCR) India 100% Associate Partnership Firm 28 TCI Warehousing (MH) India 100% Associate Partnership Firm 89 90 . India 73.603) 15 TCI Global Holdings (Mauritius) Ltd.252 203. Ltd.694 318.759.Rs.783 2.492.000 12.247. Hong Kong 100% Step-down Subsidiary Agricultural Expenses (Net) 193.463.923 22 TCI Distribution Centers Ltd.14% Subsidiary Plant & Machinery 16.266. Netherlands 100% Step-down Subsidiary Preliminary Expense w/o 323.180. nil (Previous year .036 135. Ltd.327 Previous year Rs.839.405 191. Nil) 14 TCI Express Pte.437 193.308. 3.716.587.646.849 1 Ann-Sofie Scan ApS Denmark 50% Joint Venture Lease Rent Payments 2. 1.097 6.606 23 Infinite Logistics Solutions Pvt.409.487 262.263 7 TCI Global Logistik Gmbh Germany 100% Step-down Subsidiary Exchange Rate Difference (Net) 1.000 to a director for services of a professional nature (Previous Year Rs.000 Remuneration to Auditors 1.104 447. India 51% Subsidiary Buildings 7. The Consolidated Financial Statements include results of all the subsidiary and joint ventures of Transport Corporation of India Limited.900 14.000 335.147 Country of % Tax audit fees 205. Mauritius 100% Subsidiary Motor Trucks 162.989 1.220.841 140.624.

1st April 2009 31st March 2010 Financial year of the company Less: 15 TCI Global Holdings (Mauritius) Ltd.000 27 TCI Properties (NCR) 4th January 2010 31st March 2010 First financial year of the Firm 28 TCI Warehousing (MH) 4th January 2010 31st March 2010 First financial year of the Firm b. 496.000 335. Nil and loss of Rs.110 19 TCI Infrastructure Ltd. which is tested for impairment on every Balance Sheet date.571.726 4. In other cases Rs. 4. Ltd. 1st April 2009 31st March 2010 Financial year of the company Managing Director – 2% 14. Name of the Company Remarks 2009-10 2008-09 From To Rupees Rupees 1 Ann-Sofie Scan ApS 1st January 2009 31st December 2009 Financial year of the company Salaries 26.549. revenue items are consolidated at the average rate prevailing during the year.830 13 TCI Holdings Netherlands B.084. Ltd.V.699 4 TCI Global (HKG) Ltd.154 9 TCI Holdings Asia Pacific Pte.596 342.180.000 26 TCI Properties (Delhi) 4th January 2010 31st March 2010 First financial year of the Firm Executive Directors 9.V. being Non-Integral Foreign Operations.397 22 TCI Distribution Centers Ltd.703. The financial statements of these companies are for the period as under: 2.058. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd. income and expenses. iv. In terms of amendments notified on 31st March 2009 to Accounting Standard 11 (AS 11). 3. In respect of Subsidiary Companies.737 17 Transport Co of India (Mauritius) Ltd. 156.401.52 lacs. The consolidated financial statements have been prepared on the following principles: repayment of foreign currency borrowings and of Rs. 1st April 2009 31st March 2010 Financial year of the company Executive Directors -. Financial statements of subsidiaries viz. Total Remuneration to Directors: Period Sl. 1st April 2009 31st March 2010 Financial year of the company Commission 19.000. total overall basis.The excess of Company’s share of equity and reserves of the subsidiary and joint venture companies over the cost of acquisition is treated as Capital Reserve.V. the financial statements have been consolidated on a line-by-line basis by adding together depreciable assets has been credited to the account of such assets. which reflect total assets of Rs.178 179.871 2 Transystem Logistics International Pvt..500.733 46.953.874 20 TCI Properties (Pune) Ltd.795.058.196 11 TCI Scan Denmark ApS 1st January 2009 31st December 2009 Financial year of the company Directors’ Remuneration 63.064 5 TCI Global (Thailand) Co.5% 3.027 510. 91 92 .011.984 14 TCI Express Pte. In case of foreign subsidiary and joint venture.764.55 lacs has been credited and Rs. Any exchange difference arising on consolidation is recognised as “Exchange Difference on Consolidation”. 1st April 2009 31st March 2010 Financial year of the company Directors’ Fees 435.368. 6th April 2009 31st March 2010 First financial year of the company Depreciation under section 350 296.856 552.1% each 14.) (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd.177 18 TCI Developers Ltd.287.993.697 11.919. Ltd. The excess of cost to the Company of its investment in subsidiary and joint venture companies is recognised in the financial statements as Goodwill.18 million for the year ended 31st March 2010 have not been audited. All assets and liabilities are converted at the rate prevailing at the end of the year.767 300.200 2.TCI Global Brazil Logistica Ltda. 511.. ii.995. In case of Joint Venture Companies.000 21. 1st April 2009 31st March 2010 Financial year of the company 7 TCI Global Logistik GmbH 1st April 2009 31st March 2010 Financial year of the company 3. 1st April 2009 31st March 2010 Financial year of the company Contribution to Provident / Superannuation Funds 2. 3.154.318. 74.879.000 5.172.601.384.000 3 PT.601.863 296.250.38 lacs the book values of like items of assets.599 24 TCI Properties (Guj) 4th January 2010 31st March 2010 First financial year of the Firm Restricted to: 25 TCI Properties (South) 4th January 2010 31st March 2010 First financial year of the Firm Managing Director 9. Ltd.22 lacs on c.634 12 TCI Global Brazil Logistica Ltda 14th October 2009 31st March 2010 First financial year of the company 359.77 million as at 31st March 2010.000. TCI Global Netherlands B. 366. the exchange gain of Rs.000 6 TCI Global Pte Ltd. 1st April 2009 31st March 2010 Financial year of the company Capital profit on sale of Investments 1. 51.397 23 Infinite Logistics Solutions Pvt. 1st April 2009 31st March 2010 Financial year of the company Net Profit computed in accordance with section 309 (5) 714.) a. 1956 8 TCI Global Netherlands B.000.863 296.623 853.533 11. after fully eliminating intra-group balances and unrealised has been amortised out of the Foreign Currency Monetary Item Translation Difference Account. 1st April 2009 31st March 2010 Financial year of the company 297.000 5. Ltd. which is actuarially calculated on an Global (Malaysia) Sdn Bhd and TCI Holdings Netherlands B.81 lacs and fixed assets are lower by Rs.TCI The above does not include contribution to gratuity fund and provision for encashable leave.V. 1st April 2009 31st March 2010 Financial year of the company Non Executive Directors – 0.43 lacs on restatement of such borrowings relating to acquisition of i.308. 1st April 2009 31st March 2010 Financial year of the company Capital profit on sale of assets 53.872.TCI Global Logistik GmbH. 1st April 2009 31st March 2010 Financial year of the company Commission payable to: 21 TCI Properties (West) Ltd. As a result net profit after tax is profits/ losses on intra-group transactions as per Accounting Standard – AS 21 “Consolidated Financial Statements” lower by Rs.318.287. TCI Global 1st April 2009 31st March 2010 Financial year of the company Money Value of perquisites 14. Computation of net profit in accordance with Section 309 (5) of the Companies Act.180. 1st April 2009 31st March 2010 Financial year of the company Add: 10 TCI Global (Malaysia) Sdn Bhd 29th December 2009 31st March 2010 First financial year of the company Depreciation as per accounts 296.278. 1st April 2009 31st March 2010 Financial year of the company Profit before tax 652. liabilities. the financial statements have been consolidated considering the interest in the joint ventures using proportionate consolidation method as per Accounting Standard – AS – 27 “Financial Reporting of Interests in JointVentures” iii. revenue of Rs.196 16 TCI Global (Sanghai) Co.697 11.000.000 11.078. Ltd.924 2. 1st April 2009 31st March 2010 Financial year of the company 1.

120 253.803.567.000 Global Division (61. Key Management Personnel 640.156.13 2026.000 • TCI Industries Ltd • Etralog.000 Wind Power Division 75.51 1.794 Real Estate & Warehousing Division 1. 1.79 Rent Paid Associates 19.com Solutions Ltd.639.200.36 3469.682 Net Income from Operations 15234.569 .36) (103.000 12.000 31st March 2010 31st March 2009 Loans Taken Associates .904 12.616.939 b.358 ii.02 93 94 .634 Supply Chain Solutions Division 220. Ltd. Associates: Advances/ Deposits Given Associates 14.600 .21 164. 47.976 37.500 Deduct: Key Management Personnel 640.673 Segment Revenue Freight Division 7273.028.) (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd.196 Sale of Fixed Assets Associates 59.58 Finance & Investment: Seaways Division 83.172 Advances/ Deposits Given Associates 1.925.180.500 • TCI Global Logistics Ltd • TCI Exim Pvt.013 • Mr Chander Agarwal • Mr K Prabhakar Share Application Money Given Associates .000 24.33 Logistics Services Associates 466.961 provided on revalued amount 37.188 - • Mrs Priyanka Agarwal (wife of Mr Vineet Agarwal) • Mr Ashok Agarwal (Brother of Mr. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd.13 106.66 243.515 284.37) Trading Division 2.63 Refund of Share Application Money Given Associates .875.733 45.863 296.883.290 5. Transactions with related parties: 8.000 - 7.240.523 - 6.350. 325.27 31.218.000 Rupees Rupees Refund of Loans Taken Associates .092. Exceptional item represents loss on settlement of all outstanding derivative instruments during the year. 1. Key Management Personnel: Investments Made Associates 3. Related party disclosures Balances as at the year end: 31st March 2010 31st March 2009 a.000 • Mr D.D.601.868.579 Net depreciation charged in Profit & Loss Account 296.12 72.976 Refund of Advances/ Deposits Taken Key Management Personnel 2.500.03 Key Management Personnel 768.480 XPS Division 301. 930. Supply Chain Solutions Division 2942.47 13668.450.41) Interest Paid Associates .77 Freight Expenses Associates 12.38 233.800 .992. 16. The net depreciation charged for the year is arrived at as follows: Refund of Loans Given Associates 49.72 127.040.200 4.35 819.68 Pump Stock Sold Associates 959. Liabilities: • Bhoruka International Pvt.000 3.500 - • Bhoruka Finance Corporation of India Ltd • XPS Cargo Services Ltd Relatives of Key Management Personnel 240.500 1.839 296.927.761 79.800. Segment Information Nature of Transaction Nature of Relation Amount (Rupees) Divisions (Rupees in Millions ) Transactions during the year: 2009-10 2008-09 2009-10 2008-09 Income: Revenue Freight Income Associates 1.16 Salary & Perquisites Relatives of Key Management Personnel .49 6939.09 Remuneration and Commission Key Management Personnel 61. Ltd • TCI India Ltd Trade Payables Associates 2.80 Relatives of Key Management Personnel 640.14 Interest Income Associates 58.Agarwal) iii.000 240.710 Depreciation for the year 296.67 Fuel Purchases Associates 115. 41. 12. Purchase of Investments Associates 12.000 630. Agarwal • Mr Vineet Agarwal Loans Given Associates .358 Wind Power Division 37.) 5.080 XPS Division 3860.25 3. List of related parties: Assets: i.17 Share Application Money Given Associates . Relatives of Key management Personnel: Trade Receivable Associates 686.334. P.286 Global Division 337.519 1. 15274.759.000 Less: Inter Segment Revenue (40.54) (9.000.334.P.39 Expenditure: Seaways Division 634.500 - Transfer from Capital Reserve on account of depreciation Advances/ Deposits Taken Key Management Personnel 278.450. Trading Division 150.39 Segment Results Freight Division 285.013 5.06 240.11 13565.192.

99) (1.39 where freight income is accounted when the ship sails out of the port. Freight expenses are accounted when hired vehicles deliver goods to the Company at destination.66 1.05 Basic Earnings per Equity Share Rupees 5.12 d.12 XPS Division 93.29 iii) Later than five years 210.25 66.50 .48 ACCOUNTING POLICIES: Total Capital Expenditure 615.) Real Estate & Warehousing Division (0. In respect of assets given under non-cancelable operating lease. Gratuity: The company operates mainly in India and therefore there are no separate geographical segments.61 Rupees in Million Particulars Capital Expenditure Freight Division 69.92 479.03 0.69 4.627. Real Estate & Warehousing Division 76.05 provision is made for all known losses and liabilities.67 Unallocated Corporate Assets 1739.32 40.36 158.89 20.40 Wind Power Division .33) Particulars 2009-10 2008-09 Interest Expenses (net of income) (191. Income and expenditure are generally recognized on accrual basis in accordance with the applicable accounting standards and XPS Division 48.777 72.08 12. as on 31st March 2010 is Trading Division . adequate provisions have been made in the accounts and there is no further liability expected on this account.56 1451. 0.96 Nominal Value of Equity Shares Rupees 2.59 838. except in case of the TCI Seaways Division Seaways Division 39.51 249. Real Estate & Warehousing Division 35.97 Net Profit after tax available for equity share holders.46 1.66 967. 72. 13.548.505. the future minimum lease payments.60 i) Not later than one year 832.51 b.01 98.92 b) Guarantees and Counter Guarantees Outstanding 303.23 327.640 Segment Assets Freight Division 1601.16 859.430 Supply Chain Solutions Division 287. Having regard to the size of operations and the nature and complexities of the Company’s business.30 Supply Chain Solutions Division 247. 95 96 .13 a.39 124.00 47.92 120.97 51.64 Total 1.01 0.60 Particulars (Amount in Rupees) Segment Liabilities Freight Division 123.47 c. of Equity Shares for Basic EPS Nos.69 4.00 Seaways Division 808. In respect of assets taken under non-cancelable operating lease.66 47. .145.030 13. 72.92 645.689.39 132.46 167.500 Wind Power Division 4.94 million. Trading Division 0.09 10. of Equity Shares for Diluted EPS Nos.40 Global Division 3. Unallocated Depreciation 0.71 6502.85 the TCI Seaways Division where such liability is provided as calculated by the Company’s claim department. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.28 Seaways Division 4.70) Profit Before Tax 652. Recognition of Income and Expenditure: Depreciation Freight Division 50.72) (45.130 Global Division 45. Trading Division 0.for Basic and Diluted EPS Rupees 412.93 Total Liabilities 1168.22 1.50 53.55 22.46 Weighted average no. Global Division 2.13 111.01 e.200 Seaways Division 57. Contingent liability not provided for in respect of: Unallocated Corporate Liabilities 480.05 2.) (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd.59 15.59 Global Division 89.76) (242.65 Add: Adjustments for stock options Nos.783 Supply Chain Solutions Division 1300. In accordance with Accounting Standard (AS 15) “Employee Benefits”. c) Income Tax demands under dispute 154. Previous year’s figures have been regrouped/ rearranged wherever considered necessary.16 510. Wind Power Division 27.74 877.19 ii) Later than one year and not later than five years 84.521.84 - 15.90 31st March 2010 31st March 2009 XPS Division 56. 27.01 390.518.11 1. the future minimum lease payments as on 31st March 2010 are: Real Estate & Warehousing Division 643.127.747 72. Freight income is accounted when goods are delivered by the company to customers.326 Other Information Weighted average no.59 Wind Power Division 422.76 Nil.90 Total Assets 7566.47 27. Unallocated Capital Expenditure 199. 14.36 Diluted Earnings per Equity Share Rupees 5.33 33.07 1496.07 2. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd.734 332.28) 9 Earnings per share Unallocated Corporate Income net of Unallocated Corporate Expenses (23.00 2. . Year-end liability in respect of claims for loss and damages is provided as calculated by claims recovery agents except in case of Real Estate & Warehousing Division 1.90 Trading Division . freight received/paid in advance is accounted as income/expense on payment. Supply Chain Solutions Division 125.72 a) Trade Tax/ Octroi/ Duty/ ESI and other demands under dispute 19.143 XPS Division 961.76 102.46 11.

Agarwala Vineet Agarwal Chander Agarwal A. except for its TCI Seaways division. Depreciation method of fixed assets: The straight line method is used in computing the depreciation of fixed assets. exchange differences relating to (iii) Deferred Tax: long-term monetary items are dealt with in the following manner: The company not doing deferred tax temporary differences between revenue and expenses for the purpose of i. understanding of the consolidated portion of the companies. Agarwal Chartered Accountants Chairman Director Director Vice Chairman & Managing Director Assets Rate % p. K. In terms of the amendments to Accounting Standard 11 on The Effects of Changes in Foreign Exchange Rates. plant and equipment over their d. Taxation: Office Equipment 5 years Provision for tax is made for both current and deferred taxes. Annual Report 2009-10 SCHEDULES TO THE CONSOLIDATED ACCOUNTS SCHEDULES TO THE CONSOLIDATED ACCOUNTS (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd. 9. Notes to these Consolidated Financial Statements are intended to serve as a means of informative disclosure and a guide to better include Hong Kong Financial Reporting Standards (HKFRSs) and the requirements of the Hong Kong Companies Ordinance. profit and loss account. except for land. Depreciation on Fixed Assets other then 7.S. In other cases such differences are accumulated in a “Foreign Currency Monetary Item Translation Difference Account” depreciation rate is computed according to the original value of fixed assets and the deduction of residual value as per expected and amortised over the balance life of the long-term monetary item. The financial statements have been prepared in accordance with accounting principles generally accepted in Hong Kong.) (23) CONSOLIDATED NOTES ON ACCOUNTS (Contd. Ltd. Individual assets whose (i) Basis of Preparation: actual cost does not exceed Rs. 5. Depreciation: ii) Buildings on lease-hold land is amortized over the period of lease or useful life of the assets whichever is less Depreciation is provided on straight-line method at rates speci¬fied in schedule XIV to the Companies Act. that 10. and the ii. Ltd. the Company has disclosed only such Notes from the individual financial statements. Provision for current income tax on income from shipping activities is made on the basis of deemed Computers 3 years tonnage income of the Company.00 Motor Cars & Scooters 20. 4. R. except pallets and bins.000. Inventories: (ii) Fixed Assets: Inventories are valued at lower of cost and net realisable value. Fixed Assets are stated at cost less accumulated Depreciation. S. Baranwal Motor Trucks & Trailers (including accessories) 20. Place : Gurgaon. not beyond 31st March 2011. the recognition of items in the accounts and in estimating its current tax provision. Bansal N. a) Transystem Logistics International Private Limited In terms of our Report of even date For and on behalf of the Board i) Depreciation on fixed assets is provided on straight-line method over their expected useful life at the rates given below For R S Agarwala & Co. Mehta D. Provision for current income tax is made on the current tax rates based on assessable income. Exchange differences relating to long-term monetary items. The financial statement is reported in conformity with generally accepted accounting principal in Indonesia. Depreciation on additions/ deductions is calculated pro-rata from / to the month of addition / deduction. take place. provides for deferred tax based on the tax effect of timing differences resulting from f) Transport Co of India (Mauritius) Ltd. The Annual Report has been prepared in accordance with the provisions of the Danish Financial Statements Act. P. which fairly present the needed disclosure.a. TCI Global 5. Monetary items in foreign currency at the year end are converted in Indian Currency at the year end rates. Significant Accounting Policies followed by Subsidiary. Recognising this purpose. Fixed Assets: (ii) Corporation tax and deferred tax: a) Fixed Assets are stated at cost and/or at revaluation. c) PT. Office Equipments 25% p. The company assesses at each Balance Sheet date whether there is any indication that any asset may be impaired and if such indication The financial statements have been prepared in accordance with Title 9. Impairment of Assets: g) TCI Holdings Netherlands B. the difference between the forward estimated useful life at the following annual rates rate and exchange rate at the inception of the contract is recognised as income or expense over the life of the contract. the cost whereof are amortised over a period of five years from the date of purchase. exists. b. K. are fully depreciated in the year of purchase.a. reserve created on revaluation of fixed assets to Profit and Loss Account. Book 2 of the Netherlands Civil Code.00 97 98 . Datta O. Furniture & Fixtures 12. The company is jointly taxed with its subsidiary Ann-Sofie Scan Shipping Limited.) 3. Foreign ExchangeTransactions: land is calculated on straight. c. the carrying value of such asset is reduced to its recoverable amount and a provision is made for such impairment loss in the h) TCI Global (HKG) Ltd. JointVentures. different and unique from parent. The effect on deferred taxes of a change in tax rate is recognized in the year in which the change is effected.The group is subject to the rules of the b) Depreciation on the amount added to Fixed Assets on revaluation is adjusted by transfer of equivalent amount from capital Danish Tonnage Tax Act. S.50 Date : 19th May 2010 Date : 19th May 2010 Office Equipments 16. 11. 1956 except for pallets b) Ann-Sofie Scan ApS: and bins included under plant and machinery. arising during the year. In respect of Forward Exchange contracts entered into to hedge foreign currency risks.V. F-5534) Executive Director Executive Director Group CFO & Sr.a. to the extent. asset. M.67 Computers 25. Renovation 5 years The company. Leasehold Property 60 years 8. Any income or expense on account of exchange difference either on settlement or translation is recognised in the profit and e) TCI Global Pte. loss account Depreciation is calculated on a straight-line method to write off the cost of the property. 6. VP-Group Company Secretary Accounts & Audit Plant & Machinery 10. Investments: (i) Basis of preparation: Investments are stated at cost. of a depreciable capital asset are added to/ deducted from the cost of the asset and depreciated over the balance life of the d) TCI Global (Sanghai) Co. service life. The financial statements have been prepared on a historical basis except trade and other receivables at amortized costs. All transactions in foreign currency are recorded at the rate of exchange prevailing on the dates when the relevant transactions Office Supplies 25% p.00 Camp : Gurgaon. Swaminatha Reddy K.00 Partner (Membership No. in so far as they relate to the acquisition commercial and tax.00/ 50.line method with estimated useful life as follows: a.

P.51) 118. CASH FLOW FROM OPERATING ACTIVITIES Net Profit before tax and exeptional items 6814. in lacs Particulars 2009-10 2008-09 A. Important factors that could cause R.30 2449.93 5.08) Repayment of Long Term Borrowings (1183.93 (102.27) Net Cash From Financing Activities 2798.26) Payment of Dividend Tax (104.60) (17.92 (56.91) Direct Taxes Paid/Refund received (2155.26 1656. CASH FLOW FROM FINANCING ACTIVITIES Proceeds from issue of Share Capital 21.44) (2622. Agarwala Vineet Agarwal Chander Agarwal A.31 Purchase of Investments (271. CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets (6159. CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2010 Rs.70) (141. Bansal N.49 209.03. labour negotiations and fiscal regimes.55) (400.01 Loss (Profit) on sale of Fixed Assets 36.73 Interest Payments 2037. K.34 29. in lacs Particulars 2009-10 2008-09 Repayment of Short Term Borrowings (1003.46) 6. Date : 19th May 2010 Date : 19th May 2010 99 . estimates.85 195. Agarwal Chartered Accountants Chairman Director Director Vice Chairman & Statements in this report that describe the Company’s objectives.00) (77. economic developments within the countries in which the Company conducts business.13 5285.34) (29.45) (2396. M.44 2622.43) (703. and other factors relating to the Company’s Company Secretary Accounts & Audit Camp : Gurgaon.73) C.17 Operating profit before Working Capital changes 11641.03 10585.00 Interest Recieved 119.35) 273. K.81 2966.99) (1873.03.30 403. expectations or predictions of future may be ‘forward- Managing Director looking statements’ within the meaning of the applicable securities.46 Increase/ (Decrease) of Minority Interest/ Goodwill on Consolidation (net) 279.20) Sale of Fixed Assets 2221.41 B.87 Dividend Recieved 100.76) Loss on Derivative Transactions (692. changes in government Partner (Membership No. operations. Place : Gurgaon.93 Decrease/ (Increase) in Preliminary Expenses to be written off (11. 400.05 (178.09) 4827. projections.84 Adjustments For: Trade and Other Recievables (6371.91 Interest Recieved (119.84) (1.51 172.2009 2853.37) (60.99 Increase/ (Decrease) of Capital Reserve on Consolidation (59. The Company cautions that such statements involve risks and uncertainties and that actual results could differ materially from those expressed or implied.70 141.75) (1013.84) Sale of Investments 203.94 Trade Payables 2585. in lacs Rs.03 500.21) (6452. S.79) Lease Rent Payments 22.00) Payable against Derivative Transactions .89) (4983.31) Payment of Dividend (619.42 Cash & Cash Equivalent As On 31.55) Proceeds from Long Term Borrowings 1349. laws and regulations. Datta O.41 Net Cash From Investing Activities (5475.73) Loans and Advances (1309.91) Net Cash From Operating Activities 3649.88 Cash & Cash Equivalent As On 31.27 Loss(Profit) on sale of Investments (10.S. VP-Group regulations. Swaminatha Reddy K.22 10794. in lacs Rs.81 Cash Generation From operations 7842.09 5509.84) 6.23 Interest Paid (2037. Baranwal differences include raw materials’ cost or availability.74 Foreign Currency Translation Difference 125.60 2853.26) Net Increase(decrease) In Cash & Cash Equivalent(A+B+C) 971.87) Dividend Income (100.30 In terms of our Report of even date For and on behalf of the Board Disclaimer For R S Agarwala & Co. F-5534) Executive Director Executive Director Group CFO & Sr.14 5565.09 Lease Rent Payments (22.55 - CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2010 Rs.36) Inventories (12. such as litigation. cyclical demand and pricing in the Company’s principal markets. Mehta D.85) (195.2010 3824. S.67 Adjustments for: Depreciation 2961.