Reimagining Tomorrow's Enterprise…

Annual Report 2020 Reimagining Tomorrow’s Enterprise…

US$ 9.9 B REVENUE 150,000+ IDEAPRENEURS 155 NATIONALITIES 46 COUNTRIES

2 Even before COVID-19, companies operated in an uncertain world where advances in technology could render business models and traditional industries obsolete. The world-wide impact of COVID-19 and the related economic ﬂuctuations, geopolitical tensions and social change movements have only heightened these TODAY. uncertainties. In this rapidly evolving environment we need to look over the horizon to ﬁnd the building blocks of a resilient, thriving digital enterprise. We need the technology, business expertise, engineering solutions, smart IP and software products – and the enormously talented and innovative people – that can help enterprises withstand current and future shocks. We need to reimagine tomorrow’s enterprise. Today.

3 Even before COVID-19, companies operated in an uncertain world where advances in technology could render business models and traditional industries obsolete. The world-wide impact of COVID-19 and the related economic ﬂuctuations, geopolitical tensions and social change movements have only heightened these TODAY. uncertainties. In this rapidly evolving environment we need to look over the horizon to ﬁnd the building blocks of a resilient, thriving digital enterprise. We need the technology, business expertise, engineering solutions, smart IP and software products – and the enormously talented and innovative people – that can help enterprises withstand current and future shocks. We need to reimagine tomorrow’s enterprise. Today.

4 TABLE OF CONTENTS Financial Highlights HCL Leadership T Board ofDir Message fr Message fr Message from theFounder P FutureTech f Le Business Highlights:P Business Highlights:ERS Business Highlights:ITBS Mode 1-2- Sustainability or Breakthrough Innovation assion Fueledby OurPeople veraging Ecosystems 3 Overview om theCEO om theChairperson

ectors

eam

7 5 3 2 1 23 22 21 19 17 15 13 11 9 Global Reach 25

Management Discussion & Analysis (MDA) 27

Directors’ Report 67

Corporate Governance Report 128

CEO & CFO Certificates 160

Business Responsibility Report 161

Standalone Financial Statements 180

Consolidated Financial Statements 243

Statement under Section 129 318 Dear Shareholders, HCL Foundation have helped numerous rural communities by alleviating poverty and achieving I want to express my sincere gratitude to the Board health, wellness and inclusive growth. The current of Directors of HCL for entrusting me with the role of pandemic has only reinforced our commitment Chairperson. It is with a deep sense of honor, gratitude to social contributions. and responsibility that I embark on this journey with you. I would also like to thank all of you for the With the global business environment still impacted by unwavering support and constant encouragement the pandemic, we will continue meeting the challenge that drives us to continuously achieve excellence. by embracing our core values while adapting to meet Our consistent industry-leading performance is our business and social responsibility goals. Business testimony to our commitment to maximizing value practices will be sustainable and growth will need to Shiv Nadar for our shareholders. be even more inclusive. Digital transformation for our clients and within our enterprise will continue to drive Founder HCL & Under the guidance of Mr. Shiv Nadar, HCL was our resilience. Even the metrics of success will change built on the values of innovation, entrepreneurship, as we turn the corner to the post-COVID period. Chief Strategy Officer humanity and a people-centric culture that provide HCL Technologies a lasting and strong foundation to carry forward On behalf of the Board of Directors I would once again and continue our mission of growth and impact. like to thank all our shareholders, clients, partners and I want to assure you that, as I step into my new role the entire HCL ecosystem for placing their trust and as Chairperson of HCL, our strategy will continue to confidence in me. Together, we will navigate HCL evolve with the ever-changing business environment through today’s challenging phase. I am confident Dear Shareholders, industry-leading year of growth for HCL taking a while remaining true to the soul of the company. that together we will help HCL stay the course and humble backseat to providing humanitarian support At HCL, we’ve always had a core mission to invent achieve success – for the business, for employees, during the pandemic. and innovate with the most advanced technologies, At HCL we believe in doing business with absolute for clients, for communities, for the world. helping our clients become enterprises of the future This year also marks a significant moment for me integrity. It is our social responsibility to ensure that and leaders in their industries. For 44 years, the personally. My HCL journey began in 1976 when our clients, employees and communities have every Thank you. essence of our company and culture has been built the company we know today was started from advantage to succeed. It is upon us to ensure that by the incredible people of HCL – where our many a “barsati” – a humble rooftop dwelling – in Delhi. our success is reflected in the socio-economic humanitarian contributions reflect our values. It has been a tremendous privilege to lead HCL development of the communities we engage with. during the years of extraordinary growth that Our targeted and innovative programs under the Over the past six months of the COVID-19 pandemic, followed. This success would not have been possible Roshni Nadar Malhotra everyone at HCL has been working tirelessly to ensure without the unwavering support of all HCLites, our that our employees, clients and the communities clients, partners and all of our stakeholders. As I step we impact are protected and safeguarded. We have back as the Chairman of HCL Technologies, I do so been intensely focused – helping our clients reshape with deep gratitude for your trust and confidence in me. their businesses, helping our employees and their families ensure health and safety, working with I am extremely pleased to share that health ocials and governments in India and around Roshni Nadar Malhotra takes over as the Chairperson the world to contain the virus and providing a helping of HCL Technologies as of July 17, 2020. Roshni has hand to many who are less fortunate in society. been with HCL for many years and brings an enriched experience of learning and pioneering at HCL. She is Our COVID-19 initiatives stem from a long tradition of Roshni Nadar deeply rooted in the core vision, values and philosophy corporate social responsibility at HCL. It is a tradition that of the company and is committed to leading HCL with can be seen today in our numerous initiatives to empower her new ideas and dynamic thinking. Her passion for Malhotra communities through long-term sustainable programs. technology coupled with her vision for all-inclusive Our CSR arm, the HCL Foundation, focuses particularly growth will surely make HCL an unparalleled success on raising the quality of life in rural communities by Chairperson story. I wish her the best and hope that with the alleviating poverty, improving health and wellness, great leadership at HCL, we will continue to strive HCL Technologies and promoting inclusive growth. This was a special for excellence. year for HCL Foundation, which celebrated 5 years of HCL Grant, one of India’s biggest CSR grants, which Thank you. supports pathbreaking initiatives by grassroots NGOs.

Since the beginning of the pandemic, the HCL Foundation has elevated its support of the communities it supports. It has been a year like no other - with another Shiv Nadar

7 Dear Shareholders, HCL Foundation have helped numerous rural communities by alleviating poverty and achieving I want to express my sincere gratitude to the Board health, wellness and inclusive growth. The current of Directors of HCL for entrusting me with the role of pandemic has only reinforced our commitment Chairperson. It is with a deep sense of honor, gratitude to social contributions. and responsibility that I embark on this journey with you. I would also like to thank all of you for the With the global business environment still impacted by unwavering support and constant encouragement the pandemic, we will continue meeting the challenge that drives us to continuously achieve excellence. by embracing our core values while adapting to meet Our consistent industry-leading performance is our business and social responsibility goals. Business testimony to our commitment to maximizing value practices will be sustainable and growth will need to Shiv Nadar for our shareholders. be even more inclusive. Digital transformation for our clients and within our enterprise will continue to drive Founder HCL & Under the guidance of Mr. Shiv Nadar, HCL was our resilience. Even the metrics of success will change built on the values of innovation, entrepreneurship, as we turn the corner to the post-COVID period. Chief Strategy Officer humanity and a people-centric culture that provide HCL Technologies a lasting and strong foundation to carry forward On behalf of the Board of Directors I would once again and continue our mission of growth and impact. like to thank all our shareholders, clients, partners and I want to assure you that, as I step into my new role the entire HCL ecosystem for placing their trust and as Chairperson of HCL, our strategy will continue to confidence in me. Together, we will navigate HCL evolve with the ever-changing business environment through today’s challenging phase. I am confident Dear Shareholders, industry-leading year of growth for HCL taking a while remaining true to the soul of the company. that together we will help HCL stay the course and humble backseat to providing humanitarian support At HCL, we’ve always had a core mission to invent achieve success – for the business, for employees, during the pandemic. and innovate with the most advanced technologies, At HCL we believe in doing business with absolute for clients, for communities, for the world. helping our clients become enterprises of the future This year also marks a significant moment for me integrity. It is our social responsibility to ensure that and leaders in their industries. For 44 years, the personally. My HCL journey began in 1976 when our clients, employees and communities have every Thank you. essence of our company and culture has been built the company we know today was started from advantage to succeed. It is upon us to ensure that by the incredible people of HCL – where our many a “barsati” – a humble rooftop dwelling – in Delhi. our success is reflected in the socio-economic humanitarian contributions reflect our values. It has been a tremendous privilege to lead HCL development of the communities we engage with. during the years of extraordinary growth that Our targeted and innovative programs under the Over the past six months of the COVID-19 pandemic, followed. This success would not have been possible Roshni Nadar Malhotra everyone at HCL has been working tirelessly to ensure without the unwavering support of all HCLites, our that our employees, clients and the communities clients, partners and all of our stakeholders. As I step we impact are protected and safeguarded. We have back as the Chairman of HCL Technologies, I do so been intensely focused – helping our clients reshape with deep gratitude for your trust and confidence in me. their businesses, helping our employees and their families ensure health and safety, working with I am extremely pleased to share that health ocials and governments in India and around Roshni Nadar Malhotra takes over as the Chairperson the world to contain the virus and providing a helping of HCL Technologies as of July 17, 2020. Roshni has hand to many who are less fortunate in society. been with HCL for many years and brings an enriched experience of learning and pioneering at HCL. She is Our COVID-19 initiatives stem from a long tradition of Roshni Nadar deeply rooted in the core vision, values and philosophy corporate social responsibility at HCL. It is a tradition that of the company and is committed to leading HCL with can be seen today in our numerous initiatives to empower her new ideas and dynamic thinking. Her passion for Malhotra communities through long-term sustainable programs. technology coupled with her vision for all-inclusive Our CSR arm, the HCL Foundation, focuses particularly growth will surely make HCL an unparalleled success on raising the quality of life in rural communities by Chairperson story. I wish her the best and hope that with the alleviating poverty, improving health and wellness, great leadership at HCL, we will continue to strive HCL Technologies and promoting inclusive growth. This was a special for excellence. year for HCL Foundation, which celebrated 5 years of HCL Grant, one of India’s biggest CSR grants, which Thank you. supports pathbreaking initiatives by grassroots NGOs.

Since the beginning of the pandemic, the HCL Foundation has elevated its support of the communities it supports. It has been a year like no other - with another Shiv Nadar

8 The year also highlighted our ‘Think Global, Act Local’ operations, we donated thousands of medical philosophy, as we celebrated 20 years of our operations equipment and PPEs and also took over the running in Australia and New Zealand and 10 years of success of COVID-19 Command Centers for the Noida and in France. We also opened several new local hubs, Chennai administrations. We are also running a meal including a CyberSecurity Fusion Center in Frisco, distribution program for some underprivileged sections C Vijayakumar Texas, USA, and a new technology delivery center in Noida. Various other community support programs in Lithuania. We announced two new Global Delivery are being run locally in several other countries of Centers, in Hartford, Connecticut, USA, and Colombo, our operations. President & CEO Sri Lanka. HCL Technologies Looking Ahead Today, the HCL family of 150,000+ employees is I think the future prospects for broad-based technology proudly diverse, representing 155 nationalities spread companies like us are stable and bright. We are seeing across 46 countries, with women constituting 26% of a number of opportunities playing out in the market. our workforce. For example, digital transformation is being significantly accelerated across industries. Digital programs which Abiding Resilience Dear Shareholders, Diversifying our Dierentiation were planned for completion in two to three years Before I conclude this letter, I want to take a few are now expected to close in a matter of months. The last mile of Fiscal 2020 was a bookmark period for Our unique business model is the foundation of this moments to give you a wider view of our response to the While momentum sectors the entire world, as a global health crisis brought all of leadership position. To further strengthen this posture, pandemic, as it has truly brought to life the best of HCL. such as Life Sciences and Digital transformation humanity to a virtual standstill. In those early weeks we launched a new business unit called ‘HCL Software,’ Healthcare, Online Grocery We kicked o our extensive COVID-19 business continuity is being significantly of the proliferation of COVID-19, as we all mounted our which provides modernized software products to help Distribution, Telecom and response to this unforeseen challenge, seeing HCLites businesses transform their environment. We acquired measures as early as the last week of January. Our first the Tech sector continue to accelerated across rally so ardently, look out for each other, and support and tucked in select IBM products for Security, Marketing, priority since then has been the wellbeing of our create strong demand, we industries. our customers’ best interests against all odds reminded Commerce and Digital solutions - AppScan, BigFix, employees, 98% of whom are now working from home. are also seeing impacted me once again why the HCL family is so special. Commerce, Connections, Digital Experience (Portal We have launched a global helpline to provide timely sectors like Retail, Auto, Travel, Hospitality, etc., starting and Content Manager), Notes, Domino and Unica - physical and mental health support to them and have work on redefining customer engagement to ‘zero touch’ Landmark Fiscal interactions by leveraging conversational AI, analytics under this BU. The business made significant strides increased digital connections to keep HCLites and and digital innovations. While our response to the pandemic has been a in FY20, onboarding 2,000+ partners and concluding their families engaged during the lockdowns. phenomenal testament to our remarkable resilience 13,000+ sales transactions. Our next most important priority has been to keep our We believe we are well-positioned to capture these as an organization and as a family, the journey opportunities. Not only because we are a technology We added several other capabilities to our portfolio clients’ businesses running. As a first step we helped company with a very strong portfolio of relevant leading to that point was not any less remarkable. transition almost 3.5 million client users to remote this year. We acquired Strong-Bridge Envision, a digital capabilities – such as workplace transformation, As we closed the books on FY20, we emerged as working format. With several customers in Healthcare, transformation consulting firm; expanded our preferred cybersecurity transformation, digital scaling and Pharmaceuticals, Food Supply & Distribution, as well as the fastest growing large technology company for professional services partnership with Broadcom to cloud migration – but more importantly because local governments and the fourth consecutive year with revenue and net include Symantec Enterprise Division; created a separate we have in our driving seat our employees, our income growth of 17.0% division called ERX within our Engineering and R&D In a recent client public utilities, we have ‘ideapreneurs,’ as we call them, who always think We emerged as the had to handle countless and 9.3% respectively. business to drive an IP-led strategy in the segment; satisfaction survey, ahead of the curve, who are not afraid to place future fastest growing large This momentum was and acquired Sankalp Semiconductor, an advanced new service requests. bets and who are boldly reimagining the enterprise 99% of the respondents technology company led by our superior technology design services provider in the Our employees have of tomorrow, today! organic growth and agreed that our responded ably to all for the fourth semiconductor space. Thank you. acceleration of our such asks with agility consecutive year. Frontline Innovation pandemic response has Mode 2 and Mode 3 and urgency. Thanks been “very eective” revenue – that is, revenue involving next-generation HCL shone the brightest, though, at the frontline. to their hard work technologies such as digital and analytics, IoT, cloud Continuing our tradition of ‘ideapreneurship™,’ or “eective”. and eorts, in a recent native and cybersecurity, as well as new IPs and our employees filed 29 patents in FY20, out of customer satisfaction C Vijayakumar products – which helped deliver strong double-digit which 16 were granted. They also created immense survey, 99% of the respondents agreed that our pandemic growth across all segments, geographies and value for our customers through ideation platforms response has been “very eective” or “eective”.

verticals. Mode 2 and Mode 3 revenues for the year like Value Portal, through which they generated For supporting the communities in which we work, made up 33% of total revenues, increasing from 12,225 ideas with a veriﬁed value to customers of we have taken a pragmatic assistance approach. 28.4% in ﬁscal 2019. $1.7B for the year. In the two states in India where we have our largest

9 The year also highlighted our ‘Think Global, Act Local’ operations, we donated thousands of medical philosophy, as we celebrated 20 years of our operations equipment and PPEs and also took over the running in Australia and New Zealand and 10 years of success of COVID-19 Command Centers for the Noida and in France. We also opened several new local hubs, Chennai administrations. We are also running a meal including a CyberSecurity Fusion Center in Frisco, distribution program for some underprivileged sections C Vijayakumar Texas, USA, and a new technology delivery center in Noida. Various other community support programs in Lithuania. We announced two new Global Delivery are being run locally in several other countries of Centers, in Hartford, Connecticut, USA, and Colombo, our operations. President & CEO Sri Lanka. HCL Technologies Looking Ahead Today, the HCL family of 150,000+ employees is I think the future prospects for broad-based technology proudly diverse, representing 155 nationalities spread companies like us are stable and bright. We are seeing across 46 countries, with women constituting 26% of a number of opportunities playing out in the market. our workforce. For example, digital transformation is being significantly accelerated across industries. Digital programs which Abiding Resilience Dear Shareholders, Diversifying our Dierentiation were planned for completion in two to three years Before I conclude this letter, I want to take a few are now expected to close in a matter of months. The last mile of Fiscal 2020 was a bookmark period for Our unique business model is the foundation of this moments to give you a wider view of our response to the While momentum sectors the entire world, as a global health crisis brought all of leadership position. To further strengthen this posture, pandemic, as it has truly brought to life the best of HCL. such as Life Sciences and Digital transformation humanity to a virtual standstill. In those early weeks we launched a new business unit called ‘HCL Software,’ Healthcare, Online Grocery We kicked o our extensive COVID-19 business continuity is being significantly of the proliferation of COVID-19, as we all mounted our which provides modernized software products to help Distribution, Telecom and response to this unforeseen challenge, seeing HCLites businesses transform their environment. We acquired measures as early as the last week of January. Our first the Tech sector continue to accelerated across rally so ardently, look out for each other, and support and tucked in select IBM products for Security, Marketing, priority since then has been the wellbeing of our create strong demand, we industries. our customers’ best interests against all odds reminded Commerce and Digital solutions - AppScan, BigFix, employees, 98% of whom are now working from home. are also seeing impacted me once again why the HCL family is so special. Commerce, Connections, Digital Experience (Portal We have launched a global helpline to provide timely sectors like Retail, Auto, Travel, Hospitality, etc., starting and Content Manager), Notes, Domino and Unica - physical and mental health support to them and have work on redefining customer engagement to ‘zero touch’ Landmark Fiscal interactions by leveraging conversational AI, analytics under this BU. The business made significant strides increased digital connections to keep HCLites and and digital innovations. While our response to the pandemic has been a in FY20, onboarding 2,000+ partners and concluding their families engaged during the lockdowns. phenomenal testament to our remarkable resilience 13,000+ sales transactions. Our next most important priority has been to keep our We believe we are well-positioned to capture these as an organization and as a family, the journey opportunities. Not only because we are a technology We added several other capabilities to our portfolio clients’ businesses running. As a first step we helped company with a very strong portfolio of relevant leading to that point was not any less remarkable. transition almost 3.5 million client users to remote this year. We acquired Strong-Bridge Envision, a digital capabilities – such as workplace transformation, As we closed the books on FY20, we emerged as working format. With several customers in Healthcare, transformation consulting firm; expanded our preferred cybersecurity transformation, digital scaling and Pharmaceuticals, Food Supply & Distribution, as well as the fastest growing large technology company for professional services partnership with Broadcom to cloud migration – but more importantly because local governments and the fourth consecutive year with revenue and net include Symantec Enterprise Division; created a separate we have in our driving seat our employees, our income growth of 17.0% division called ERX within our Engineering and R&D In a recent client public utilities, we have ‘ideapreneurs,’ as we call them, who always think We emerged as the had to handle countless and 9.3% respectively. business to drive an IP-led strategy in the segment; satisfaction survey, ahead of the curve, who are not afraid to place future fastest growing large This momentum was and acquired Sankalp Semiconductor, an advanced new service requests. bets and who are boldly reimagining the enterprise 99% of the respondents technology company led by our superior technology design services provider in the Our employees have of tomorrow, today! organic growth and agreed that our responded ably to all for the fourth semiconductor space. Thank you. acceleration of our such asks with agility consecutive year. Frontline Innovation pandemic response has Mode 2 and Mode 3 and urgency. Thanks been “very eective” revenue – that is, revenue involving next-generation HCL shone the brightest, though, at the frontline. to their hard work technologies such as digital and analytics, IoT, cloud Continuing our tradition of ‘ideapreneurship™,’ or “eective”. and eorts, in a recent native and cybersecurity, as well as new IPs and our employees filed 29 patents in FY20, out of customer satisfaction C Vijayakumar products – which helped deliver strong double-digit which 16 were granted. They also created immense survey, 99% of the respondents agreed that our pandemic growth across all segments, geographies and value for our customers through ideation platforms response has been “very eective” or “eective”. verticals. Mode 2 and Mode 3 revenues for the year like Value Portal, through which they generated For supporting the communities in which we work, made up 33% of total revenues, increasing from 12,225 ideas with a verified value to customers of we have taken a pragmatic assistance approach. 28.4% in fiscal 2019. $1.7B for the year. In the two states in India where we have our largest

10 Board of Directors

TOP ROW, FROM LEFT: MIDDLE ROW, FROM LEFT:

Shiv Nadar R. Srinivasan Founder HCL & Director Chief Strategy Ocer Sosale Shankara Sastry Roshni Nadar Malhotra Director Chairperson Subramanian Madhavan Shikhar Malhotra Director Director Thomas Sieber Robin Abrams Director Director BOTTOM ROW, FROM LEFT:

Nishi Vasudeva Director

Deepak Kapoor Director

Dr. Mohan Chellappa Director HCL Technologies Corporate Campus Simon England Noida, Uttar Pradesh, India Director 11 Board of Directors

TOP ROW, FROM LEFT: MIDDLE ROW, FROM LEFT:

Nishi Vasudeva Director

Deepak Kapoor Director

Dr. Mohan Chellappa Director HCL Technologies Corporate Campus Simon England Noida, Uttar Pradesh, India Director 12 Hari Kalyan Maninder HCL Leadership Team Sadarahalli Kumar Singh

Corporate Vice President Corporate Vice President Corporate Vice President ERS, Manufacturing, Medical, & Chief Technology Officer CyberSecurity & GRC and Transportation (MMT) IT Services

Prateek GH Rajeev Rajiv Sanjay C Vijayakumar Aggarwal Rao Nanda Shesh Gupta

President & CEO Chief Financial Officer President Corporate Vice President Corporate Vice President Corporate Vice President and Program Director Engineering Infrastructure Delivery, Engineering and R&D Services and R&D Services (ERS) EMEA & APAC New Vistas

Rahul Ajit Anand Srimathi Sukamal Swapan Singh Kumar Birje Shivashankar Banerjee Johri

President President Senior Corporate Vice President Corporate Vice President Corporate Vice President Corporate Vice President and Program Director Financial Services Applications & SI Digital & Analytics ERX and IoT WoRKSTM Asia Paciﬁc & Middle East Services Delivery New Vistas

Anoop Jagadeshwar Anil Vijay Anand Ajay Arthur Tiwari Gattu Ganjoo Guntur Bahl Filip

Senior Corporate Senior Corporate Vice President Corporate Vice President Corporate Vice President Executive Vice President Executive Vice President Vice President Infrastructure Delivery, Americas Telecom, Media & Entertainment ERS, HiTech and Communications MEGALT (NORAM) Sales Transformation Digital Process Operations & Marketing

Apparao Ashish Darren Kevin Shrikanth Stellar Kim V V Kumar Gupta Oberst Mcgee Shetty Tucker

Chief Human Resources Officer Corporate Vice President Corporate Vice President Executive Vice President Executive Vice President Executive Vice President Europe and Africa, HCL Software Chief Risk Ocer Life Sciences and Corporate Development & Diversiﬁed Industries Healthcare, US Strategic Initiatives 13 Hari Kalyan Maninder HCL Leadership Team Sadarahalli Kumar Singh

Corporate Vice President Corporate Vice President Corporate Vice President ERS, Manufacturing, Medical, & Chief Technology Officer CyberSecurity & GRC and Transportation (MMT) IT Services

Prateek GH Rajeev Rajiv Sanjay C Vijayakumar Aggarwal Rao Nanda Shesh Gupta

Rahul Ajit Anand Srimathi Sukamal Swapan Singh Kumar Birje Shivashankar Banerjee Johri

Anoop Jagadeshwar Anil Vijay Anand Ajay Arthur Tiwari Gattu Ganjoo Guntur Bahl Filip

Apparao Ashish Darren Kevin Shrikanth Stellar Kim V V Kumar Gupta Oberst Mcgee Shetty Tucker

70,676 60,427 Highlights 47,568 50,569

FY17 FY18 FY19 FY20 In FY20, HCL continued its strong performance and had …thereby maintaining our Revenue INDUSTRY-LEADING GROWTH... GROWTH MOMENTUM… Figures in INR Crores CAGR: 14.1%

10,120 11,057 40.75 8,721 36.79 70,676 11,057 8,606 30.17 31.12 17.0% 9.3% YOY Growth FY17 FY18 FY19 FY20 FY17 FY18 FY19 FY20 Revenue Net Income Figures in INR Crores Net Income Earnings Per Share (INR)*

HCL’s industry-leading revenue growth, Figures in INR Crores CAGR: 8.7% *adjusted for bonus issue CAGR: 10.5% both organic and inorganic, has been achieved while we maintained stable operating margins. In FY20, our Mode 2 and Mode 3 revenue – that derived from …making HCL the next-generation technologies such as digital and analytics, IoT, cloud, and FASTEST GROWING LARGE TECHNOLOGY COMPANY cybersecurity, as well as new products globally over the past four years. and platforms – accounted for one-third of our revenue. Particularly gratifying Prateek Aggarwal Chief Financial Ocer was seeing our investments in our new HCL Software business bear fruit in the 59.3% 29.0% last two quarters of FY20, contributing Average of HCL Top India handsomely to proﬁtability as well as Technologies Heritage Providers to the cash generation capacity of 16.3% 12.2% the company. IT Services Average of Industry Other Top Global Service Providers

9 Financial

70,676 60,427 Highlights 47,568 50,569

FY17 FY18 FY19 FY20 In FY20, HCL continued its strong performance and had …thereby maintaining our Revenue INDUSTRY-LEADING GROWTH... GROWTH MOMENTUM… Figures in INR Crores CAGR: 14.1%

10 Sustainability Creating Harmony Between Profit, People and the Planet RE S D HCL held 19 major global events ES EF N IN on Internatonal Women’s Day HCL builds sustainability principles and actions into the strategy, culture SI E to strengthen its commitment U and day-to-day operations of our company. We aim to improve the lives of W to women empowerment and B BENCHMARKING GLOBAL O E MOBILITY celebrate the contributions people around the planet, engaging our employees, clients, stakeholders L SUSTAINABILITY R of women in the organization. B K and the communities we live in, to a higher purpose. We focus on areas I P S ETHICAL SUPPLY L where we can make the most dierence: health, education, technology, N SOCIAL CHAIN A O ECONOMIC C MEDIA DIVERSITY jobs and people who are denied the benefits and access aorded by P PERFORMANCE E S science, technology and innovation. Guided by the United Nations E SITING Sustainable Development Goals, we view sustainability in three R DIVERSITY & INCLUSION ways – economic, social and environmental, known informally GOVERNANCE as Profit, People and the Planet. SUPPLY CHAIN INDUSTRY & ACADEMIA MANAGEMENT CAREER LIFECYCLE HCL’s “Women Lead” initiative GREEN IT is a 1:1 mentorship program for IMPACT EMPLOYEE EMPLOYEE FORUMS aspiring women leaders that HCL’s WELLBEING EXPERIENCE began in Australia and in 2020 INNOVATION Sustainability expanded to the Nordics. GREEN MARGINALZED BUILDINGS ADVOCACY WOMEN PROGRAMS Strategy SAFE REHABILITATION & WASTE RESPONSIBLE BRIDGE SCHOOLS DISPOSAL SUPPLY CHAIN NGOs CAPACITY WATER NEUTRALITY The 2020 honorees of HCL’s The 2020 winners of the HCL Grant, MENTOR ENVIRONMENT BIODIVERSITY annual “Wavemakers” award, coveted institutionalized grants to YOUTH YOUTH SKILL CERTIFICATION which recognizes champions of non-governmental organizations DEVELOPMENT social causes, were announced at in India, were among over 5,000 GREEN For its 43rd anniversary, CHILD RIGHTS the World Economic forum annual submissions in the Environment, R PROCUREMENT the HCL Foundation organized meeting in Davos, Switzerland. Health, and Education categories. E ADVOCACY REDUCED M the planting of over 4300 trees P ARTS & E A CULTURE PAPER USAGE T to combat climate change. Y S Y S S O CARE FOR ENERGY O C DISADVANTAGED MANAGEMENT C IE E TY W NE RE

HCL UK works with The Prince’s Trust In South Africa, HCL is partnering At HCL, new datacenters helping disadvantaged youth gain with not-for-proﬁt Safe-Hub on a HCL’s sustainability priorities are based on a combination use low-powered blade servers digital skills through such programs major campaign to provide digital and more energy-ecient as “Get Started with Technology.” labs for at-risk teens to help them of importance to business and importance to company uninterruptible power supplies develop computer skills. stakeholders. They are organized into four categorie and which can use 70% less power arrayed in importance, with the highest priorities located than a legacy UPS. near the core of the matrix.

11 Sustainability Creating Harmony Between Profit, People and the Planet RE S D HCL held 19 major global events ES EF N IN on Internatonal Women’s Day HCL builds sustainability principles and actions into the strategy, culture SI E to strengthen its commitment U and day-to-day operations of our company. We aim to improve the lives of W to women empowerment and B BENCHMARKING GLOBAL O E MOBILITY celebrate the contributions people around the planet, engaging our employees, clients, stakeholders L SUSTAINABILITY R of women in the organization. B K and the communities we live in, to a higher purpose. We focus on areas I P S ETHICAL SUPPLY L where we can make the most dierence: health, education, technology, N SOCIAL CHAIN A O ECONOMIC C MEDIA DIVERSITY jobs and people who are denied the benefits and access aorded by P PERFORMANCE E S science, technology and innovation. Guided by the United Nations E SITING Sustainable Development Goals, we view sustainability in three R DIVERSITY & INCLUSION ways – economic, social and environmental, known informally GOVERNANCE as Profit, People and the Planet. SUPPLY CHAIN INDUSTRY & ACADEMIA MANAGEMENT CAREER LIFECYCLE HCL’s “Women Lead” initiative GREEN IT is a 1:1 mentorship program for IMPACT EMPLOYEE EMPLOYEE FORUMS aspiring women leaders that HCL’s WELLBEING EXPERIENCE began in Australia and in 2020 INNOVATION Sustainability expanded to the Nordics. GREEN MARGINALZED BUILDINGS ADVOCACY WOMEN PROGRAMS Strategy SAFE REHABILITATION & WASTE RESPONSIBLE BRIDGE SCHOOLS DISPOSAL SUPPLY CHAIN NGOs CAPACITY WATER NEUTRALITY The 2020 honorees of HCL’s The 2020 winners of the HCL Grant, MENTOR ENVIRONMENT BIODIVERSITY annual “Wavemakers” award, coveted institutionalized grants to YOUTH YOUTH SKILL CERTIFICATION which recognizes champions of non-governmental organizations DEVELOPMENT social causes, were announced at in India, were among over 5,000 GREEN For its 43rd anniversary, CHILD RIGHTS the World Economic forum annual submissions in the Environment, R PROCUREMENT the HCL Foundation organized meeting in Davos, Switzerland. Health, and Education categories. E ADVOCACY REDUCED M the planting of over 4300 trees P ARTS & E A CULTURE PAPER USAGE T to combat climate change. Y S Y S S O CARE FOR ENERGY O C DISADVANTAGED MANAGEMENT C IE E TY W NE RE

12 EXPERIENCE AND INSIGHT

Mode 2 Accelerating

New Services PRODUCT INNOVATIONS Digital & Analytics IoT WoRKS™ Mode 1 Cloud Native Mode 3 Cybersecurity & GRC Existing Building New Core Services And Mode 1-2-3 Reimagining Mature Application Services EFFICIENCY ANDInfrastructure AGILITY Services Products & Platforms Growth strategy for Engineering & R&D Services the Digital Age Digital Process Operations Digital Enterprise

Mode 1 Mode 2 Mode 3 Businesses across industries stand The services oer our clients This set of services helps The oerings represent a leadership position and enhance enterprises advance digitally HCL’s future vision to create at an inﬂection point today led by the business competencies for their through experience-centric, innovative IP by leveraging far-reaching disruption catalyzed core business processes, products insight-based, outcome-oriented an ecosystem model through and services through the highest integrated oerings leveraging strategic partnerships, carve-outs and by technologies like Digitalization, level of reliability and consistency new technologies. HCL’s Mode 2 co-innovation programs. Analytics, Cloud, IoT and Automation. through extreme automation, provides scaled digital transformation Through both internal and external To respond to these converging ecient delivery and operational frameworks that help enterprise IP creation, Mode 3 achieves two agility. Mode 1 leverages the clients build robust new-age objectives - take advantage of vectors in a structured framework, current business and IT landscape capabilities and pivot to new speciﬁc next-generation opportunities we devised our Mode 1-2-3 strategy, by consolidating a company’s business models. HCL’s Mode 2 and enable our enterprise clients to existing core and unearthing new oerings include Digital and be future-ready. which has become our growth ways to enhance that core with Analytics, IoTWoRKS™ blueprint to navigate swiftly in new technologies. These services (Internet of Things), Cloud Native oerings include Application and Cybersecurity & GRC. the Digital Age. Development & Management, Infrastructure Management, Engineering and Research & Development and Digital Process Operations.

13 EXPERIENCE AND INSIGHT

Mode 2 Accelerating

14 IT & Business Services Digital Oerings For Tomorrow’s Businesses A comprehensive suite of end-to-end digital o erings 12.5% Digital Workplace Services: End-to-end Dynamic Cybersecurity and GRC Services: YoY Growth user centric solutions powered by a smart Helps customers move from a static to a to address the traditional and transformational needs workplace model for B2E needs. We dynamic posture mitigating uncertainty of large enterprises. deliver future-ready “Fluid workplaces” by neutralizing threats and leveraging enabling collaboration, productivity advanced analytics and ML. We o er “Partnering with HCL is an important component of our 7.1B Revenue and employee experience. For a US complete services, from strategy, strategy to digitally transform our organization and drive F&B major, we transformed the end-user architecture and consulting services to resiliency and e ciency across the business. We are also experience and IT operations in 1975 sites system integration and managed security pleased that they will be locating a global delivery center across 76 countries for 100,000+ users. service. For a European Oil and Gas major, This included Endpoint management, Hybrid Cloud Services: we secure 73,000+ internal users and in Hartford, which will continue to add to the city’s 200 Secure, adaptive Communications and Enterprise Mobility & (near) zero touch services based on 2Mn+ customer identities. presence as a signiﬁcant digital and technology Leadership Analyst Recognitions for 100,000+ mobile devices. mature frameworks, AI & automation innovation hub.” 25 based consumption models and Digital Process Operations: Platform Transformation: Don Allan, EVP and Chief Financial Ocer Innovation Labs We are using supported by co-innovation labs, CoEs, ‘Process-First, Technology-led Digital Stanley Black & Decker Across the Globe platform modernization, data analytics, strong partner ecosystem and global Operations’, for AI/ML based intelligent and AI to increase customer engagement delivery centers. We undertook strategic automation & operational analytics. while improving regulatory compliance cloud transformation for a US F&B major Our ‘digitalCOLLEAGUE’ fosters BUILDING THE RESILIENT DIGITAL ENTERPRISE and fraud detection for major banks. consolidating 7 data centers with 37% humans-machine co-existence, delivering We helped a leading European bank improvement in operational eciency superior experiences and improved ROI. transition from using point solutions for and 70% faster provisioning. For a Global Hi-Tech leader, we provide operationalizing the KYC functional multi-tower digital global shared Machines Employees Customers Partners blocks to a modern, end-to-end CX Transformation: Building CX platforms services for end-to-end product life cycle DIGITAL OPERATIONS Know Your Customer solution. that drive customer delight through delivering productivity gains of over 40%. ecient and consistent experiences. Cybersecurity Data-driven Transformation: Network Services: Our industry leading Integrated IT Operations Process Operations For a European utility, we transformed Fusion Centers Our approach to NextGen insights digital experiences of 700,000+ portfolio helps drive technology comprises four key pillars: Adaptive customers through increased billing disruptions in SDN, SDWAN and Data Platform, Intelligent Data accuracy, customer spend predictability multi-cloud network transformation, DIGITAL BUSINESS Management, Consumption Based and reduced carbon footprint. Service integrating programmability and network Analytics and Applied AI. For a logistics costs decreased, while customer intelligence. For a large manufacturer, Consulting Applications Insights IoT ﬁrm, our AI engine proactively predicts acquisition increased by 700%. Our we deployed NetBot, decreasing MTTR the probability of a shipment getting FENIX2.0 driven Agile transformation by up to 70% for multi-vendor services. delayed or returned resulting in reduced release cycles by 75%. DIGITAL FOUNDATION 97% clearance success rate. “The current workforce demands a workplace that is

Ecosystem Partnerships Ecosystem Hybrid Cloud Digital Workplace Uniﬁed Service Mgmt Cybersecurity & GRC highly collaborative, productive, and engaging. HCL

Automation & Innovation Labs & Innovation Automation “Fonterra is pleased to be able to draw on HCL’s global helped us reimagine our workplace, empowering scale and e ciency. Additionally, this partnership will employees with the right set of digital tools to drive enable us to improve our cyber security framework and innovation and deliver a seamless experience strengthen our critical IT foundation.” for our employees.” AI Experience Cloud Talent Piers Shore, Chief Information Ocer, Fonterra Aloys Kregting, Chief Information Ocer, AkzoNobel

• Positioned as a Leader in the IDC MarketScape 2020 Key Transformational Wins Notable Analyst Recognitions Vendor Assessment for a) Worldwide Business and FY20 was another banner year for HCL in terms of Industrial IoT Engineering, Managed Services, A leading Europe based global financial services Integrated energy and utilities company in South b) IoT Consulting and Systems Integration Services, • • analyst recognitions, as it retained and added to its group: Acceleration of Global KYC, Unite and Model Africa: Multi-year automation-led hybrid cloud c) Worldwide Intelligent Automation Services** leadership positions in 207 competitive evaluations: Bank programs. migration program. • Positioned as a Leader in Everest Group’s PEAK Matrix® • A leading European retail bank: Design and • New Zealand based dairy co-operative: Modernize and • Positioned as a Leader in the February 2020 Gartner Magic Assessment 2020 for a) IT Security Services, b) Talent implementation of future state operating model with manage the technology infrastructure across the globe. Quadrant for Managed Workplace Services, North America Readiness for Next-Gen IT services, c) Application Robotic Process Automation and Artificial Intelligence. and Europe* Transformation Services, d) Network Transformation, • Large US based pharmaceutical & bio tech company: e) Managed Services, and f) Open Banking IT Services • A global North America based mass media and Scaled agile digital transformation for superior user • Positioned as a Leader in Gartner Magic Quadrant for Data information company: Delivering Digital Workplace experience globally. Center Outsourcing and Hybrid Infrastructure Managed • Positioned at No.2 in HfS Top 10: Agile Software Development, 2020 Services across 80 countries. Services, North America & Europe 2020* • Leading US based manufacturing company: • Positioned as a Challenger in the April 2020 Gartner Magic *Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research • Retail company based in the US: One stop shop IT End-to-end modernization of applications and publications, and does not advise technology users to select only those vendors with the highest outsourcing partner to provide holistic IT Infrastructure infrastructure to enable Scale Digital services. Quadrant for CRM and Customer Experience ratings or other designation. Gartner research publications consist of the opinions of Gartner’s management services including Cybersecurity. Implementation Services* research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of • Positioned as a Leader in The Forrester Wave™: merchantability or fitness for a particular purpose. Specialized Insights Service Providers, 2020 **a) Doc #US46120820, Mar 2020, b) Doc #US46121220, Mar 2020, c) Doc #US44934619, Sep 2019 15 IT & Business Services Digital Oerings For Tomorrow’s Businesses A comprehensive suite of end-to-end digital o erings 12.5% Digital Workplace Services: End-to-end Dynamic Cybersecurity and GRC Services: YoY Growth user centric solutions powered by a smart Helps customers move from a static to a to address the traditional and transformational needs workplace model for B2E needs. We dynamic posture mitigating uncertainty of large enterprises. deliver future-ready “Fluid workplaces” by neutralizing threats and leveraging enabling collaboration, productivity advanced analytics and ML. We o er “Partnering with HCL is an important component of our 7.1B Revenue and employee experience. For a US complete services, from strategy, strategy to digitally transform our organization and drive F&B major, we transformed the end-user architecture and consulting services to resiliency and e ciency across the business. We are also experience and IT operations in 1975 sites system integration and managed security pleased that they will be locating a global delivery center across 76 countries for 100,000+ users. service. For a European Oil and Gas major, This included Endpoint management, Hybrid Cloud Services: we secure 73,000+ internal users and in Hartford, which will continue to add to the city’s 200 Secure, adaptive Communications and Enterprise Mobility & (near) zero touch services based on 2Mn+ customer identities. presence as a significant digital and technology Leadership Analyst Recognitions for 100,000+ mobile devices. mature frameworks, AI & automation innovation hub.” 25 based consumption models and Digital Process Operations: Platform Transformation: Don Allan, EVP and Chief Financial Ocer Innovation Labs We are using supported by co-innovation labs, CoEs, ‘Process-First, Technology-led Digital Stanley Black & Decker Across the Globe platform modernization, data analytics, strong partner ecosystem and global Operations’, for AI/ML based intelligent and AI to increase customer engagement delivery centers. We undertook strategic automation & operational analytics. while improving regulatory compliance cloud transformation for a US F&B major Our ‘digitalCOLLEAGUE’ fosters BUILDING THE RESILIENT DIGITAL ENTERPRISE and fraud detection for major banks. consolidating 7 data centers with 37% humans-machine co-existence, delivering We helped a leading European bank improvement in operational eciency superior experiences and improved ROI. transition from using point solutions for and 70% faster provisioning. For a Global Hi-Tech leader, we provide operationalizing the KYC functional multi-tower digital global shared Machines Employees Customers Partners blocks to a modern, end-to-end CX Transformation: Building CX platforms services for end-to-end product life cycle DIGITAL OPERATIONS Know Your Customer solution. that drive customer delight through delivering productivity gains of over 40%. ecient and consistent experiences. Cybersecurity Data-driven Transformation: Network Services: Our industry leading Integrated IT Operations Process Operations For a European utility, we transformed Fusion Centers Our approach to NextGen insights digital experiences of 700,000+ portfolio helps drive technology comprises four key pillars: Adaptive customers through increased billing disruptions in SDN, SDWAN and Data Platform, Intelligent Data accuracy, customer spend predictability multi-cloud network transformation, DIGITAL BUSINESS Management, Consumption Based and reduced carbon footprint. Service integrating programmability and network Analytics and Applied AI. For a logistics costs decreased, while customer intelligence. For a large manufacturer, Consulting Applications Insights IoT firm, our AI engine proactively predicts acquisition increased by 700%. Our we deployed NetBot, decreasing MTTR the probability of a shipment getting FENIX2.0 driven Agile transformation by up to 70% for multi-vendor services. delayed or returned resulting in reduced release cycles by 75%. DIGITAL FOUNDATION 97% clearance success rate. “The current workforce demands a workplace that is

Ecosystem Partnerships Ecosystem Hybrid Cloud Digital Workplace Uniﬁed Service Mgmt Cybersecurity & GRC highly collaborative, productive, and engaging. HCL

• Positioned as a Leader in the IDC MarketScape 2020 Key Transformational Wins Notable Analyst Recognitions Vendor Assessment for a) Worldwide Business and FY20 was another banner year for HCL in terms of Industrial IoT Engineering, Managed Services, A leading Europe based global financial services Integrated energy and utilities company in South b) IoT Consulting and Systems Integration Services, • • analyst recognitions, as it retained and added to its group: Acceleration of Global KYC, Unite and Model Africa: Multi-year automation-led hybrid cloud c) Worldwide Intelligent Automation Services** leadership positions in 207 competitive evaluations: Bank programs. migration program. • Positioned as a Leader in Everest Group’s PEAK Matrix® • A leading European retail bank: Design and • New Zealand based dairy co-operative: Modernize and • Positioned as a Leader in the February 2020 Gartner Magic Assessment 2020 for a) IT Security Services, b) Talent implementation of future state operating model with manage the technology infrastructure across the globe. Quadrant for Managed Workplace Services, North America Readiness for Next-Gen IT services, c) Application Robotic Process Automation and Artificial Intelligence. and Europe* Transformation Services, d) Network Transformation, • Large US based pharmaceutical & bio tech company: e) Managed Services, and f) Open Banking IT Services • A global North America based mass media and Scaled agile digital transformation for superior user • Positioned as a Leader in Gartner Magic Quadrant for Data information company: Delivering Digital Workplace experience globally. Center Outsourcing and Hybrid Infrastructure Managed • Positioned at No.2 in HfS Top 10: Agile Software Development, 2020 Services across 80 countries. Services, North America & Europe 2020* • Leading US based manufacturing company: • Positioned as a Challenger in the April 2020 Gartner Magic *Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research • Retail company based in the US: One stop shop IT End-to-end modernization of applications and publications, and does not advise technology users to select only those vendors with the highest outsourcing partner to provide holistic IT Infrastructure infrastructure to enable Scale Digital services. Quadrant for CRM and Customer Experience ratings or other designation. Gartner research publications consist of the opinions of Gartner’s management services including Cybersecurity. Implementation Services* research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of • Positioned as a Leader in The Forrester Wave™: merchantability or fitness for a particular purpose. Specialized Insights Service Providers, 2020 **a) Doc #US46120820, Mar 2020, b) Doc #US46121220, Mar 2020, c) Doc #US44934619, Sep 2019 16 Engineering and R&D Services HCL ERS partners with global enterprises in accelerating product development Broad-based Engineering by leveraging the latest technologies, monetizing product services and providing HCL has become a key partner for us throughout Service Provider, immersive customer experiences. the entire product development lifecycle. In fact, #1Everest Group 80+ Engineering Engineering Labs given their capabilities, their attention to detail, Services Top 50TM, their relationship-building, we feel they are part 2020 and #3 in of the BD team. We’re fully transparent with overall END-TO-END ENGINEERING SERVICES them, and they’re fully transparent with us. HCL has a great name, a great reputation. Based on PRODUCT ENGINEERING PLATFORM ENGINEERING OPERATIONS TECHNOLOGY our experience, I’d say that reputation is warranted. John DeFord Existing or New Product Platform Build & Plant Engineering EVP and Chief Technology Ocer Lifecycle Services Enablement Solutions Manufacturing Engineering Becton Dickinson $50 65 Cybersecurity Services Product revenue B+ Number of Top 100 enabled for our R&D Spenders who Asset Modernization and clients we partner with Select ERS Solutions And Experiences Industry 4.0 • Digital Engineering: HCL’s Digital Engineering EMBEDDED SOFTWARE ENGINEERING Oerings cater to the full spectrum of Product & Service transformation needs – from defining fastest super computers in the world. With this new digital strategy & roadmap, to engineering HARDWARE & VLSI ENGINEERING, PROTOTYPING & LVM technology, the partner has regained the market secure cloud-ready smart products & platforms position in the High Performance Computing space. and maintaining highly available, scalable, MECHANICAL ENGINEERING up-to-date platforms. • Edge Computing: HCL has developed a VERIFICATION & VALIDATION low cost customized Edge Computing system • Industry 4.0: HCL’s Xpand 4.0 framework enables with AI platform SDK to enable distributed our customers to connect, collaborate, optimize, PLM, PLANT AUTOMATION & MES processing for real time vide streaming analytics. and create value across siloed enterprise functions Some of the use cases include suspicious activity (Engineering, Manufacturing, Supply Chain and SOFTWARE ENGINEERING tracking, shopping floor analytics, person tracking, Aftermarket functions) to drive faster time to profit. 360 degree / aerial view of ATM/Vending • CARE™ Platform: HCL’s CARE™ platform machine, etc. accelerates the development of highly secure • Virtual Reality: HCL is enabling a fully immersive and regulatory compliant solutions for connected gaming experience for a customer in Virtual Reality • HCL has partnered with a leading online company medical devices and patient engagement. It enables Key Transformational Wins with world leading VR titles and content. Our VR in engineering a high-perfomance and highly scalable, remote device monitoring and control for medical • A leading US based enterprise software solutions are applied to connect, collaborate, customized data center hardware platform supporting devices and provides device data visibility to products company has chosen HCL as its engineering acquire and learn in the areas of Training, Health, billions of consumers. patients as well as to health service professionals. partner for its select Enterprise products. With this Logistics etc. • HCL has been selected by a leading European home partnership HCL will form integrated development • Accessibility Engineering: To ensure inclusive and support teams to enhance implementation and appliance OEM to set up its global engineering growth, HCL's accessibility oering helps enterprises HCL's engineering heritage coupled with its ability to maintenance capabilities of these product suites center in India for new product development, product make their products and services accessible to provide full stack services across domains has fortified across multiple industries and geographies. testing, product benchmarking, product sustenance dierently abled people. Our portfolio of oerings its position as a leader in the Zinnov Zones ER&D 2019 and manufacturing. • HCL supported a global leader in the foodservice includes Digital Accessibility Evaluation, Accessibility ratings. Its vertical and oering led acquisitions have industry in its strategic initiatives of Digital Notable Analyst Recognitions Design, PWD Assistive Technology Testing and helped improve client reach. It's increase in software-led Transformation and Controller Platform • Recognized as a Leader in Zinnov Zones 2019 for Remediation Services. engineering services contracts and IoT deals have Standardization. HCL’s solution for quick-serve Engineering R&D Services. helped achieve above industry average growth. restaurants will include equipment connectivity, • High Performance Computing: HCL and a Sidhant Rastogi cloud platform development and launch of • Ranked #1 in Everest Group Engineering Services leading ICT company have jointly developed a Managing Partner and Global Head digital applications. Top 50™, 2020 in Broad based providers category next-generation vector super computer, one of the (by revenue) and #3 in overall. Zinnov

17 Engineering and R&D Services HCL ERS partners with global enterprises in accelerating product development Broad-based Engineering by leveraging the latest technologies, monetizing product services and providing HCL has become a key partner for us throughout Service Provider, immersive customer experiences. the entire product development lifecycle. In fact, #1Everest Group 80+ Engineering Engineering Labs given their capabilities, their attention to detail, Services Top 50TM, their relationship-building, we feel they are part 2020 and #3 in of the BD team. We’re fully transparent with overall END-TO-END ENGINEERING SERVICES them, and they’re fully transparent with us. HCL has a great name, a great reputation. Based on PRODUCT ENGINEERING PLATFORM ENGINEERING OPERATIONS TECHNOLOGY our experience, I’d say that reputation is warranted. John DeFord Existing or New Product Platform Build & Plant Engineering EVP and Chief Technology Ocer Lifecycle Services Enablement Solutions Manufacturing Engineering Becton Dickinson $50 65 Cybersecurity Services Product revenue B+ Number of Top 100 enabled for our R&D Spenders who Asset Modernization and clients we partner with Select ERS Solutions And Experiences Industry 4.0 • Digital Engineering: HCL’s Digital Engineering EMBEDDED SOFTWARE ENGINEERING Oerings cater to the full spectrum of Product & Service transformation needs – from defining fastest super computers in the world. With this new digital strategy & roadmap, to engineering HARDWARE & VLSI ENGINEERING, PROTOTYPING & LVM technology, the partner has regained the market secure cloud-ready smart products & platforms position in the High Performance Computing space. and maintaining highly available, scalable, MECHANICAL ENGINEERING up-to-date platforms. • Edge Computing: HCL has developed a VERIFICATION & VALIDATION low cost customized Edge Computing system • Industry 4.0: HCL’s Xpand 4.0 framework enables with AI platform SDK to enable distributed our customers to connect, collaborate, optimize, PLM, PLANT AUTOMATION & MES processing for real time vide streaming analytics. and create value across siloed enterprise functions Some of the use cases include suspicious activity (Engineering, Manufacturing, Supply Chain and SOFTWARE ENGINEERING tracking, shopping floor analytics, person tracking, Aftermarket functions) to drive faster time to profit. 360 degree / aerial view of ATM/Vending • CARE™ Platform: HCL’s CARE™ platform machine, etc. accelerates the development of highly secure • Virtual Reality: HCL is enabling a fully immersive and regulatory compliant solutions for connected gaming experience for a customer in Virtual Reality • HCL has partnered with a leading online company medical devices and patient engagement. It enables Key Transformational Wins with world leading VR titles and content. Our VR in engineering a high-perfomance and highly scalable, remote device monitoring and control for medical • A leading US based enterprise software solutions are applied to connect, collaborate, customized data center hardware platform supporting devices and provides device data visibility to products company has chosen HCL as its engineering acquire and learn in the areas of Training, Health, billions of consumers. patients as well as to health service professionals. partner for its select Enterprise products. With this Logistics etc. • HCL has been selected by a leading European home partnership HCL will form integrated development • Accessibility Engineering: To ensure inclusive and support teams to enhance implementation and appliance OEM to set up its global engineering growth, HCL's accessibility oering helps enterprises HCL's engineering heritage coupled with its ability to maintenance capabilities of these product suites center in India for new product development, product make their products and services accessible to provide full stack services across domains has fortified across multiple industries and geographies. testing, product benchmarking, product sustenance dierently abled people. Our portfolio of oerings its position as a leader in the Zinnov Zones ER&D 2019 and manufacturing. • HCL supported a global leader in the foodservice includes Digital Accessibility Evaluation, Accessibility ratings. Its vertical and oering led acquisitions have industry in its strategic initiatives of Digital Notable Analyst Recognitions Design, PWD Assistive Technology Testing and helped improve client reach. It's increase in software-led Transformation and Controller Platform • Recognized as a Leader in Zinnov Zones 2019 for Remediation Services. engineering services contracts and IoT deals have Standardization. HCL’s solution for quick-serve Engineering R&D Services. helped achieve above industry average growth. restaurants will include equipment connectivity, • High Performance Computing: HCL and a Sidhant Rastogi cloud platform development and launch of • Ranked #1 in Everest Group Engineering Services leading ICT company have jointly developed a Managing Partner and Global Head digital applications. Top 50™, 2020 in Broad based providers category next-generation vector super computer, one of the (by revenue) and #3 in overall. Zinnov

18 Products & Platforms The Products & Platforms segment comprises the HCL Software Division, Actian software $1.14B 31.5% 450+ 15 Major and an IP partnership with DXC, which together account for a significant part of our Revenue EBIT margin Product releases Product releases Mode 3 revenue. In addition, our Mode 3 portfolio of IP-led o¤erings includes DRYiCE™ Software, HCL’s leading solution for enterprise automation and AI-based transformation initiatives (whose revenue is classified under the IT & Business Services segment) and certain IPs from our Engineering & R&D Services portfolio. Key Product Oerings HCL’s approach to AI is to provide flexibility by using a combination of technologies in its DRYiCE™ oering. • Customer Experience: Unica, HCL Commerce and Its Intelligent Virtual Assistant, Lucy, oers flexibility in SOFTWARE PRODUCT FRAMEWORK HCL Digital Experience. interaction channels through a combination of in-house and third-party technologies. • Digital Solutions: HCL Domino, HCL Domino Volt, HCL Software Sarah Burnett End User Computing HCL Notes, HCL Connections, HCL Sametime, HCL Executive Vice President and Distinguished Analyst Customer Experience Verse, HCL Digital Experience and Mainframe Everest Group Digital Solutions Products. Collaboration Enterprise Secure DevOps Tools Applications • Secure DevOps: HCL AppScan, HCL Accelerate, HCL Security & Automation Launch, HCL OneTest, HCL Compass, HCL Notable Analyst Recognitions SoFy VersionVault and HCL RTist. Development & Testing • HCL ranked as Leader in Quadrant Knowledge Platform Components Security & Automation: Security Service and Tools • BigFix and HCL Solutions Market Outlook: B2B Digital Commerce Workload Automation. Platforms Management Actian Platforms, 2020-2025, Worldwide, Mar 2020 Data Management & Analytics • HCL ranked as Leader in Quadrant Knowledge Data Management • DRYiCETM Software: DRYiCETM iAutomate, DRYiCETM TM TM Solutions Market Outlook: B2C Digital Commerce Data Integration Lucy, DRYiCE OptiBot, DRYiCE MyCloud, Platforms, 2020-2025, Worldwide, Mar 2020 DRYiCETM MyXalytics, DRYiCETM NetBot, DRYiCETM Data Analytics Virtualization Management Gold BluePrint, DRYiCETM SX, DRYiCETM ROAR, • HCL positioned as a Leader in IDC MarketScape: Organic IP DRYiCETM iControl. Worldwide Artificial Intelligence Services 2019 Vendor Assessment DRYiCE™ Software • Actian: Actian Avalanche, Actian Zen, Actian Hardware Management • HCL named as a Leader in IDC MarketScape: iMRO DataConnect, Actian X. Worldwide Intelligent Automation Services 2019 Vendor Assessment HCL P&P Oerings Partner Oerings • Banking and Platform Engineering IPs for Financial Services sector

Key Wins

• A major European bank chose HCL BigFix, an • One of the largest banks in Latin America renewed We have had a 3,000% increase in daily visitors to DFS has taken advantage of HCL Commerce’s endpoint management platform that enables IT Digital Experience, Unica and AppScan and signed our web properties because of the unprecedented unique industry-leading capabilities that support Operations and Security teams to fully automate up for CSM Premium Support. volume of citizens filing claims and seeking support in the dynamic business and volume scalability that discovery, management and remediation, whether • A health and life insurance company based in the US the face of COVID-19. Thanks to HCL Digital Experience, is the new normal. This allows us to react quickly by on-premises or cloud, regardless of location or has chosen HCL to deploy DRYiCE™ MyCloud and we have seen no interruption to the service we are able deploying functional changes with ease, while also connectivity. DRYiCE™ MyXalytics to manage and govern their to provide. significantly lowering our total cost of ownership. • An Asian Bank, which has used Domino/Notes as Hybrid cloud environment; and create and deliver a Chief Information O cer Russ Harte enterprise wide messaging and management unified reporting and dash-boarding system. State Government of large Midwestern state Chief Technology O cer workflow system (Oce Automation) for more than DFS (UK-based furniture retailer) 10 years, expanded its adoption to enhance dedicated end-user communication efficiency.

19 Products & Platforms The Products & Platforms segment comprises the HCL Software Division, Actian software $1.14B 31.5% 450+ 15 Major and an IP partnership with DXC, which together account for a significant part of our Revenue EBIT margin Product releases Product releases Mode 3 revenue. In addition, our Mode 3 portfolio of IP-led o¤erings includes DRYiCE™ Software, HCL’s leading solution for enterprise automation and AI-based transformation initiatives (whose revenue is classified under the IT & Business Services segment) and certain IPs from our Engineering & R&D Services portfolio. Key Product Oerings HCL’s approach to AI is to provide flexibility by using a combination of technologies in its DRYiCE™ oering. • Customer Experience: Unica, HCL Commerce and Its Intelligent Virtual Assistant, Lucy, oers flexibility in SOFTWARE PRODUCT FRAMEWORK HCL Digital Experience. interaction channels through a combination of in-house and third-party technologies. • Digital Solutions: HCL Domino, HCL Domino Volt, HCL Software Sarah Burnett End User Computing HCL Notes, HCL Connections, HCL Sametime, HCL Executive Vice President and Distinguished Analyst Customer Experience Verse, HCL Digital Experience and Mainframe Everest Group Digital Solutions Products. Collaboration Enterprise Secure DevOps Tools Applications • Secure DevOps: HCL AppScan, HCL Accelerate, HCL Security & Automation Launch, HCL OneTest, HCL Compass, HCL Notable Analyst Recognitions SoFy VersionVault and HCL RTist. Development & Testing • HCL ranked as Leader in Quadrant Knowledge Platform Components Security & Automation: Security Service and Tools • BigFix and HCL Solutions Market Outlook: B2B Digital Commerce Workload Automation. Platforms Management Actian Platforms, 2020-2025, Worldwide, Mar 2020 Data Management & Analytics • HCL ranked as Leader in Quadrant Knowledge Data Management • DRYiCETM Software: DRYiCETM iAutomate, DRYiCETM TM TM Solutions Market Outlook: B2C Digital Commerce Data Integration Lucy, DRYiCE OptiBot, DRYiCE MyCloud, Platforms, 2020-2025, Worldwide, Mar 2020 DRYiCETM MyXalytics, DRYiCETM NetBot, DRYiCETM Data Analytics Virtualization Management Gold BluePrint, DRYiCETM SX, DRYiCETM ROAR, • HCL positioned as a Leader in IDC MarketScape: Organic IP DRYiCETM iControl. Worldwide Artificial Intelligence Services 2019 Vendor Assessment DRYiCE™ Software • Actian: Actian Avalanche, Actian Zen, Actian Hardware Management • HCL named as a Leader in IDC MarketScape: iMRO DataConnect, Actian X. Worldwide Intelligent Automation Services 2019 Vendor Assessment HCL P&P Oerings Partner Oerings • Banking and Platform Engineering IPs for Financial Services sector

Key Wins

20 Leveraging Ecosystems for FutureTech

HCL is creating and applying tomorrow’s technology, today. In our Breakthrough Innovation leading-edge labs and delivery centers, together with our partners, we develop game-changing technology solutions to create a better world. HCL harnesses three systematically orchestrated ecosystems, which empower us not only to create special value for our clients today but also to innovate for the future. : Quantum Computing Strategic Alliance HCL partners include but Quantum computing holds tremendous potential for industries and society in areas ranging from ﬁnance are not limited to: to drug discovery. Working with our own ecosystem of QC pioneers, we are helping clients identify and Partner Ecosystem implement ways quantum computing can help them with their most pressing challenges. For example, a nanotech-enabled syringe equipped with ‘smart dust’ — a sensor with an integrated processor With a focus on Cloud and AI, HCL Google | Microsoft | DELL connected to the cloud — will be able to track the time and frequency of use, thereby preventing drives – through strategic business theft and unlawful diversion of prescription medication. units – partnerships with the world’s IBM | Intel | CISCO | Adobe leading technology ﬁrms to create Salesforce | ServiceNow new and dierentiated IP/solutions No-contact Car Buying Experience and accelerate the digital journeys AWS | SAP We developed an augmented reality application for a leading German automobile of its clients. manufacturer to provide a virtual real-car experience to potential customers, allowing them to feel what the car is like in terms of controls, gadgets, and the latest technology. The mobile app has particular relevance in a time of social distancing but has broader potential, reducing a dealer’s costs and oering a conversion rate as high as 50%.

Immersive Banking Start-up Ecosystem Banking is evolving and becoming ‘immersive’ – and soon will become ‘invisible’. Customers will access banking services wherever they are. Redeﬁning partnership paradigms, HCL cultivates Data will enable banks to provide recommendations and, with customers’ a unique and innovative ecosystem – consisting of consent, take actions on their behalf, thereby enabling a ubiquitous banking start-ups, VCs and trade missions from across the experience that is hyper-personalized, hyper-connected, and hyper-scaled. globe – that generates solutions HCL can bring to its We are fostering the immersive banking experience for global bank clients clients. A key dierentiator is HCL’s own start-up by deploying a concurrent, three-point spotlight on the existing core of a accelerator and innovation platform. This platform bank’s business, new growth areas, as well as the ecosystems of the future. industrializes innovation and fosters deep collaboration among various stakeholders through a systematic and Decentralized Clinical Trials scaled approach for idea funnel management, Working with partners, we have developed an innovative solution that allows prototyping, deployment and commercialization. clients to conduct remote clinical trials with a core data platform and related services. This will enable customers to continue the clinical trial process in periods of social distancing or if they are unable to travel to a medical facility. The solution employs ‘direct to patient’ interaction technology, leveraging wearables, and home-based physiological devices.

Smart Sports Industry Ecosystem HCL’s involvement with cricket — we are the technology partner of Cricket Australia — led us through our start-up innovation system to a sensor-based solution that fits onto cricketing gear and records In line with its belief in the benefits of a collaborative world, HCL is movement during play. SmartCricket feeds the data into a cloud-based analytics engine that identifies aliated with and contributes to numerous large industry forums ways to improve the player’s technique and overall game. But what started as a cricket project has jumped and foundations. These include the World Economic Forum (WEF), boundaries. The solution is being explored by other sports, such as football, where a national professional football association is considering similar movement-based technology to improve players’ performance. The OpenGroup, Cloud Native Computing Foundation (CNCF) and CloudFoundry Foundation, among others.

21 Leveraging Ecosystems for FutureTech

22 “That HCL puts its “HCL’s culture of employees ﬁrst not only providing opportunities and in words but also in encouragement to employees action, something that has Passion at all levels is exceptional. been evident throughout My career journey with HCL the COVID-19 situation, is exciting and fulﬁlling.” Fueled by Our People is truly special.”

For 44 years, HCL’s incredible business momentum and Nitika Agarwal Odd Heimstad Vice President | Norway impact in society have been fueled by our people-centric “Nothing compares to my Director | UK culture. One of the key ingredients of that culture is a value experience at HCL, where I have known as ideapreneurship™ – where brilliant ideas and continuous opportunities for Nitika employs her international industry expertise After having made 1,600+ parachute jumps, entrepreneurial spirit come together from all levels of the challenging projects, always with to lead ﬁnance for IoT WoRKS™ globally and including one from the Half Dome in the USA's company, unleashing a special energy that runs through the necessary support system.” alliances for the EMEA region. Yosemite National Park, Odd takes no chance when our 150,000+ HCLites. preparing for and running a global management consulting team across 32 countries. Careful This pervasive innovation culture is an honored license that Akiko Takei planning and execution are his keys to success. allows us to reach new heights, discover new and better Senior Manager | Japan ways of doing things, and partner with people in a trusting way to break through challenges. Our commitment to the planet and the communities we live in is backed by the Akiko is the voice of HCL Japan, responsible for all “Power of One” conviction that we can make a di erence. activities related to HCL brand and business marketing “Evolution of knowledge and “The trust, transparency, Our commitment to our clients is embodied in deep for the Japan market. innovation helps in shaping ﬂexibility, and autonomy given relationships in which we go beyond our contractual better mankind. HCL to you at HCL is like no other. obligations, our clients’ expectations, and even our ideapreneurship™ is a There is a connection, a glue, own assumptions about what we are able to deliver. wonderful culture which a common thread that is what it enables employees to create is to be part of the HCL family.” ideas, solutions, and value through disruptive innovation.”

“HCL’s entrepreneurial Prasanna Venkatesh Regina O Keee “If you enjoy THRILL, HCL is the culture is fueled by highly Group Technical Manager | India Associate General Manager | Ireland place to be! 20 fun filled years empowered employees. You for me of having the liberty to are trusted and the company Prasanna uplifted the spirit of ideapreneurship™ and Regina is a successful creative leader in marketing define my own path to success... will support you.” more to come!” won the coveted title of Ultimate Ideapreneur Season 4, who has worked across multiple exciting technology which is the culmination of ideation platforms at HCL. areas as well as local and global programs such as He filed for multiple patents with an IP value estimated HCL’s partnership with Manchester United, global Abhay Chaturvedi Carol Criner at $130 Million. partnership on International Women’s Day, and the Senior Vice President | USA Vice President | USA CSR partnership with the Prince’s Trust in the UK.

Abhay manages the customer portfolio for the As a senior business development leader, Retail and Consumer Goods business in the Americas. Carol collaborates with both Net-New and He has successfully created a customer community of Client Partner teams in pursuit of new growth leading brands where relationships trump contracts. and stronger client relationships. "I am passionate about my work “I am constantly challenged and always want to push beyond to design and propose my boundaries to provide a wow solutions which stand unique factor for the client. Value and dierentiated among creation is not just an initiative competitors. The trust and “As we work during these for HCL. It drives client success conﬁdence extended by HCL uncertain times of COVID-19, and provides personal leaders for investing in new “When I joined HCL, it felt like I was I take pride in the fact that I work recognition and motivation.” proposals is a great motivation.” meeting my family for the very ﬁrst for an organization that makes it time. My ideas are welcomed and Sana Husain Shivaramesh Krishna clear that its priorities are its I have felt valued from day one.” Specialist | India people, its clients, and being Principal Architect | India a good global citizen.” Sana took ideation to the next level when she proactively Shivaramesh’s Automated Technology Modernization Magolin Franklin Jerey Sherman developed a solution to her client’s persistent backup Accelerator (ATMA) for the transformation of legacy Senior Program Manager | USA Director | USA failures, delivering an outcome that reduced corporate risk apps delivered more than $50 Million value to his clients and brought an ongoing $202,000 cost savings solution and his idea received organization-wide recognition. to life for her client. Maggi is responsible for end-to-end service Je rey led a rapid-response mission to delivery and transforming the operations to our provide expanded endpoint protection to an next generation service delivery model for a large HCL client whose at-home workforce jumped S/4 support engagement in the manufacturing from 10,000 to 55,000 overnight. sector for MEGALT.

23 “That HCL puts its “HCL’s culture of employees ﬁrst not only providing opportunities and in words but also in encouragement to employees action, something that has Passion at all levels is exceptional. been evident throughout My career journey with HCL the COVID-19 situation, is exciting and fulﬁlling.” Fueled by Our People is truly special.”

24 A Broad Global Reach 225 delivery centers | 58 innovation labs

NORWAY Oslo UK Stavanger GERMANY SWEDEN London Munich Malmö Eschborn Göteborg Belfast BELGIUM AUSTRIA DENMARK Ilmenau Stockholm PORTUGAL Preston Ghent Vienna Copenhagen Dreieich Eskilstuna Lisbon Watford ESTONIA NETHERLANDS Hamburg Skövde Armagh Tallin Middlesbrough Amsterdam Gifhorn SPAIN POLAND BRITISH ONTARIO NEW Preston Den Hague Wolfsburg ROMANIA Toronto FINLAND Madrid COLUMBIA ALBERTA BRUNSWICK IRELAND Romford Utrecht Osnabrück Krakow Brasov Vancouver Markham Edmonton Moncton Dublin Espoo Barcelona Welwyn G. C. Venray Ingolstadt Wroclaw Iasi Edinburgh RUSSIA Glasgow Moscow COLORADO BULGARIA Denver Sofia WASHINGTON Varna Redmond CHINA CALIFORNIA Beijing Emeryville Dalian Palo Alto Shanghai Kunshan

TEXAS JAPAN Frisco Tokyo El Paso Fukuoka Round Rock HONG KONG MINNESOTA Wanchai Minneapolis Duluth LITHUANIA INDIANA Vilnius West Lafayette SOUTH KOREA Seoul MEXICO Guadalajara VIETNAM Ho Chi Minh* GUATEMALA Guatemala City PHILIPPINES Manila COLOMBIA Taguig Bogota Quezon Pasig OHIO Cleveland MALAYSIA PENNSYLVANIA Kuala Lumpur Horsham Penang Pittston SINGAPORE Singapore

NORTH CAROLINA NEW JERSEY CONNECTICUT MASSACHUSETTS BRAZIL FRANCE CZECH ITALY SOUTH AFRICA ISRAEL SRI LANKA INDIA NEW ZEALAND REPUBLIC Cary Jersey City Shelton Chelmsford Sao Paulo Paris Milan Cape Town Herzliya Colombo* Noida Hyderabad Hamilton Kings Mountain Hartford* Sao Leopoldo Toulouse Prague Via Pio Emanuelli Johannesburg Kiryat Gat Chennai Vijaywada Greensboro Curitiba Mladá Boleslav Bengaluru Nagpur AUSTRALIA Liberec Pune Coimbatore Adelaide Lucknow Mumbai Perth Madurai Kolkata * Announced in FY20 and opening in FY21 Hubli Cochin 25 A Broad Global Reach 225 delivery centers | 58 innovation labs

28 30 32-42 Industry Our Go Business Segment Overview Overview to Market • IT and Business Services (ITBS) Framework • Engineering and R&D Services (ERS) 29 • Products and Platforms HCL’s Mode 1-2-3 Strategy

42 44 46 48 52 Building Our Talented People Corporate Risk Performance Brand to are at the Social Management: Trend Propel Growth Center of HCL Responsibility Securing the For a Better Enterprise World

27 INDUSTRY OVERVIEW

As digital technologies transform business models around the for digital technology has continued to be strong. And while globe, enterprises are increasing their technology spending. there have been delays in some engagements and short- Investments in digital, analytics, cloud, internet of things (IoT), term economic slowdowns, there appear to be tremendous cybersecurity and other emerging technologies have been opportunities for technology companies to grow in the growing exponentially in nearly every large enterprise. medium and long term.

And that growth is likely to continue. For one thing, important To capitalize on this potential, industry players have been business concerns, such as customer experience and investing in sales and delivery capabilities that will be real-time data insights, are shifting technology discussions needed in the long term. They have been increasing their from the CIO’s office to the boardroom. In the initial phase presence in client geographies to improve their delivery of digitization, the early adoption was driven by front-office agility and reduce their dependence on work visas. They are transformation. Over the last few years, the enterprises opening delivery centers and innovation hubs at onshore have also been investing in middle-office and back-office and nearshore locations. transformation. These initiatives are delivering significant value to the enterprises and are forming the core strategy for forward HCL has been at the forefront of every one of these trends. looking enterprises, helping them drive significant revenue Given our demonstrated ability to execute on our strategy, growth, improved customer experience, reduction in cost and the next decade holds tremendous promise. Indeed, we fully improved operations, which in turn are generating returns expect to continue the upward trajectory that we have driven on investment that justify broader business and technology over our last four decades. transformation projects.

As demand for digital technologies accelerates and cost savings create opportunities to replace traditional technologies, the market for large digital transformation deals and managed services is growing. Technology services companies are investing in software products and platforms that transform them into end-to-end solution providers. They are using mergers and acquisitions to acquire digital capabilities and access into newer geographies.

There is no doubt that the COVID-19 pandemic, the resulting disruption of the world economy and the social upheavals of early 2020 have battered some industries. But the demand

28 HCL’s Mode 2 offerings help enterprises take the next digital HCL’S MODE 1-2-3 leap through insight-based, experience-centric and outcome- STRATEGY based integrated services that leverage new technologies. This is offered through specialized services using NextGen technologies such as Digital and Analytics, IoTWoRKS™ In a world of constant technology disruption, (Internet of Things), Cloud and Cybersecurity. Our Mode 2 HCL Technologies has been successful by making great offerings help our clients reimagine their businesses to contributions to global clients’ transformational journeys, remain relevant in the digital age. fueling them with emerging technologies like cloud, artificial intelligence, data analytics and several other new Mode 3 offerings represent HCL’s vision of creating technologies. HCL Technologies’ unique blend of services and products enables clients to achieve this transformation innovative IP by leveraging an ecosystem model through guided by the framework of HCL’s Mode 1-2-3 Strategy. Each strategic partnerships. Through both internal and external IP of the three modes can play a role in clients’ overall strategy creation, HCL’s Mode 3 offerings help clients target specific or contribute uniquely as an independent growth strategy over next-generation opportunities through scalable and ready- the next decade. to-deploy products and platforms that reduce the time to become future-ready. HCL’s Mode 1 offers core services in the areas of Application Services, Infrastructure Services, Engineering and Research The Mode 1-2-3 strategy stands differentiated in the & Development, and Digital Process Operations. Our Mode 1 marketplace today, with our clients increasingly demonstrating offerings enable our clients to become very efficient and agile, their confidence in this strategy and our ability to deliver. We helping them to be competitive in their industries. This is attained through extreme automation, efficient delivery and operational will continue to build and invest in our Mode 1-2-3 capabilities agility. Mode 1 looks to leverage the current business and IT to be the partner of choice for our clients, globally. And we do landscape by consolidating a firm’s existing core and unearthing this by continuing to re-skill, train and build the capabilities of new ways to enhance that core with new technologies. our employees to be future-ready.

HCL’s Mode 1-2-3 Strategy

Figure: HCL’s Mode 1-2-3 Strategy 29 of open-banking advocates, peer-to-peer fintechs and non- OUR traditional competitors who are un-levelling the playing field.

HCL has emerged as a strong partner for financial services GO TO MARKET organizations and has become a natural choice to help FRAMEWORK address this change. Using domain proficiency and technological expertise, HCL is helping clients in adopting digital technologies to meet changing consumer behavior and setting new standards for customer experience. The impact delivered is significant and has received recognition from clients and analysts.

Our FS industry unit has been at the forefront of delivering key outcomes for enterprises worldwide, with innovations like Digital Avatar – a new mobile/iPad platform with virtual agents that has been leveraged by a US-based F200 home insurance carrier to provide a unique digital home walkthrough experience to customers. We successfully piloted an “API Hub” which integrates and standardizes account Information and payment initiation APIs offered by multiple banks. This solution helps banks save time and effort and reduces the cost of building diverse API ingestion facilities.

We have implemented a multi-country digital bank for a leading European FS organization that enabled a unified customer experience across their web and mobile channels and enhanced overall customer satisfaction. HCL transformed a large US-based FS organization into a fully digitalized enterprise offering omni-channel

As clients are adopting new technologies at the core of customer experiences. With our holistic solutions coupled their business model, HCL’s service offerings, products with a continuous focus on delivery innovation and client delight, we are ideally placed to sustain and enhance our and platforms are organized to solve the key business and competitive positioning in the FS Industry. technology challenges of specific industries that show a high propensity for growth and impact on the global economy. Life Sciences & Our vertical market-led sales organization for our IT and Healthcare Industries (LSH) Business Services has contributed significantly to our industry leading financial performance over the last four years. This HCL’s Life Sciences and Healthcare industry unit is poised to vertical alignment is established by building expertise through play a primary role in digital transformations across leading a team of industry consultants, pre-sales solution architects health and life sciences companies. With the COVID-19 and industry business development leaders. pandemic, an industry that has been historically regarded as lagging behind in adopting digital technologies will now be at its Financial Services forefront. An immediate focus is on using digital technologies to alleviate the burden on hospitals, delays in clinical trials, The Financial Services (FS) industry unit is at an exciting reduction of workloads such as elective surgeries and medical inflection point with technology helping redefine priorities testing, and the scarcity of R&D resources. and improve outcomes. Traditional banking and insurance organizations are accelerating their digital transformation These challenges have given rise to opportunities in line with initiatives at an unprecedented pace, propelled by the actions the current trend of digital transformation in LSH.

30 They include an increased deployment of telemedicine as systems around transport and logistics management. HCL doctors need to overcome lockdowns to treat their patients. provides solutions spanning remote work, complex upstream Hospitals and clinics are leveraging digital technologies to engineering and customer-responsive business tools for monitor patient health while remote working has been more TTLH and O&G. In A&D, HCL leverages human-centered widely embraced. In addition, security is not only essential but design led platforms to help companies generate exponential viewed as a means to increase employee productivity. change in their business systems to reprioritize innovation.

HCL’s offerings in LSH, including the new remote patient Our wide-ranging expertise has delivered substantial results monitoring and telemedicine solutions, are ideally positioned for global enterprises. HCL provided end-to-end, globally to help businesses meet their goals holistically. Several top integrated digital field engineering services for a US-based global Lifesciences companies and some of large payors and oil & gas major backed by our digital workplace products and providers are part of our clientele in LSH, wherein we are IP. For a European-based energy and utilities company, HCL delivering a broad spectrum of services from our portfolio, is responsible for service management and other projects including some of requirements that are necessitated due to across multiple locations, deploying software products to COVID-19. For instance, at one of our clinical trial clients, we manage their multi-cloud environment and drive intelligent are enabling virtual trials that leverage patient-doctor visits automation in IT operations. We are the partner of choice and digital interactions to ensure a scaled and seamless for a French multinational integrated oil & gas company for study worldwide. managing their data centers, digital workplace and application Manufacturing Industries management services.

Frequent technology advances are keeping the manufacturing Retail and Consumer Packaged industry in a continual state of disruption, requiring Goods Industries (RCPG) enterprises to reinvent themselves and the way they operate. The COVID-19 pandemic has deeply impacted the industry, The last financial year has been a very successful period for with industry leaders expecting a severe resource crunch for the foreseeable future. Supply chains have been fragmented our Retail and Consumer Packaged Goods (RCPG) industry leading to breakdowns in their service delivery. unit. The impact of COVID on this segment has been quite differentiated. While some of the big box and online retailers HCL’s Manufacturing industry unit creates smart and have seen very strong demand, most of the retail enterprises scalable next-generation supply chain solutions to help have been severely impacted, leading to employee furloughs manufacturing companies reshape their business strategies and store closures amongst concerns for employee and and convert possibilities to reality. Our innovative solutions client safety. suite enables manufacturing companies to embrace the digital world seamlessly while preserving years of Consequently, amid and post-COVID, we see four key trends investment in traditional operational systems. HCL enables emerging for RCPG. As a leading technology player, HCL the advanced capabilities needed to support new business has a pivotal role as each of these trends manifest across the models, provide insight-driven customer engagement, industry as we help our client base adapt to the new normal. co-create through a robust partner ecosystem and by The first trend is low/no touch interface with the customer due leveraging emerging technologies such as IoT, AI/ML, NLP, to social distancing. The second trend is online selling, for cognitive computing, AR and VR. which HCL’s software product stack, especially Commerce and Unica, can be leveraged for rapid cloud-based rollouts. Public Services Industries The third is a flexible and adaptive supply network, whereas the fourth trend is making costs variable to prepare for an HCL’s Public Services industry unit delivers critical services uncertain future. and key outcomes to the travel, transportation, logistics and hospitality industries (TTLH); oil and gas industries Our unique capability set has delivered key outcomes for (O&G); and aerospace and defense industries (A&D). All of RCPG enterprises worldwide. For instance, HCL has helped the companies in these industries are facing generational a leading food retail chain in creating an entire digital platform challenges as a result of the COVID-19 pandemic. TTLH to enable no-contact home deliveries. For a major C-store companies are rethinking existing frameworks, processes and chain, we are building a next-generation digital platform with 31 commerce and fulfilment capabilities, and for an F&B major, emerging technology opportunities with important capabilities we resolved operational challenges through our IoT-enabled at hand, demonstrated by some of these engagements. Smart Shelf Automation System. For instance, we have engineered a next-generation IPTV/ streaming platform for a fiber-based network of a large telecom Technology Industry firm in North America (NA), as well as a high-end imaging and AI/ML-based fraud detection solution for a leading NA-based The technology industry today is going through a period distributor of mobile phones and devices. where a confluence of policy-related, technology, and industry changes have created a foundation for upheaval and disruption – times where opportunistic strategies have offered handsome near-term rewards, where new entrants have had the potential to be the better operators, and where convergence in the ecosystem has created unprecedented opportunities for value players.

The HCL Technology industry unit services most of the leading technologies companies in the world in several ways to help them navigate the operating model disruption for the various industries they serve as well as be at the forefront of changing consumer behaviors. Our core engineering, applications and infrastructure services are complemented by the vertical capabilities to help technology companies in their business operations and strategic initiatives.

Our expertise has led to successes with leading Technology industry enterprises worldwide. For instance, we improved the overall user experience of all web and mobile properties of a leading semiconductor company and recently signed a BUSINESS managed services deal with a prestigious software company in the marketing and engagement platform space. Such SEGMENT instances validate our knowhow and fulfil our goal to meet our OVERVIEW clients’ vital requirements in every situation.

HCL Technologies has been consistently delivering industry Telecom, Media and leading performance for the past few years. Growing at a Entertainment Industries CAGR of 14.1% between FY17 and FY20, our success is driven by a robust yet simple strategy: best in class delivery Telecom, Media and Entertainment (TME) customers are capabilities, a strong innovation ecosystem and above all, demanding personalized, time-shift, and multi-device the passion of our talented employees. This has resulted in experience, advertisers are expecting better returns on not only industry-leading client satisfaction scores but also marketing and deeper insights with a high uptake in sales, a substantial increase in our large client base. Our 100M+ while the internal enterprise is focusing on connectivity, client base has almost doubled between FY16 and FY20. platforms, elasticity and security. Today, clients are focusing Our focused approach driven by our Mode 1-2-3 strategy on growing their revenue via converged offerings and new has ensured that more than 30% of our current revenue business models with a “connected everything” approach. contribution comes from Mode 2 and 3.

The advent of key technologies like 5G, artificial intelligence, Looking ahead, our focus will be on three broad segments: IT internet of things (IoT), analytics, blockchain and mixed reality and Business Services (ITBS), Engineering and R&D Services (AR/VR) is driving next-generation experiences and new (ERS) and Products and Platforms (P&P). The re-grouping revenue opportunities. HCL is well positioned to leverage these into the three business segments is designed to drive internal 32 synergies, unlock better collaboration and increase client • Business Process Outsourcing (BPO) is valued at $405 focus. Our go-to-market strategy remains rooted in industry billion in 2020 and is expected to grow at a CAGR of 5.1% verticals or geography, tailored to the size of the market and by 2023 (various analysts) specific nuances there and growth opportunities. • Digital Technologies and Services is expected to grow to $2.3 trillion in 2023, achieving a five-year CAGR of Some of the key business drivers that are helping shape our 17.1% (IDC) medium and long-term strategy include accelerating digital • Enterprise Application Software is expected to be transformation, fluid digital workplace, cloud migration and $340.6 billion by 2023, growing at a CAGR of 10.7% from consumption, Cybersecurity and Industry 4.0. This section 2018 (Gartner) gives an overview of our business segments. • Data Warehousing Processes (including Big Data and Business Analytics) is expected to grow from $189.1 billion IT and Business Services (ITBS) in 2019 to $274.3 billion in 2022 (IDC) • IoT spending will surpass the $1 trillion mark in 2022 (IDC) With the radical shifts in market demands over the last 12 • Public Cloud Services is forecast to grow from $227.8 months, we see a convergence of business opportunities billion in 2019 to $266.4 billion in 2020, up by 17% in IT services. This convergence will result in either end-to- (Gartner) end integrated deals that combine technology and business • Cloud IT infrastructure will reach $100.1 billion in 2024 process requirements or agile digital opportunities that start with a CAGR of 8.4% (IDC) with small projects and rapidly scale up to end-to-end digital • Digital Workplace is predicted to reach $44.9 billion transformation engagements. by 2026 at a CAGR of 21.5% from 2020 to 2026 (ResearchAndMarket.com) The opportunities, as indicated by industry analysts, are significant: Our ITBS segment is strategically positioned to capture these • IT Infrastructure is set to grow to $3.4 trillion in 2020, enormous opportunities. We have a comprehensive and with data center systems, IT services and communications mature suite of end-to-end offerings to address the traditional services expected to grow by 1.5%, 5.5% and 2.1% and emerging transformational needs of large enterprises. respectively (Gartner) These constitute the most comprehensive offerings in the • Cybersecurity is predicted to grow from ~ $120 billion in industry and are aligned to the three critical building blocks of 2019 to ~ $165 billion by 2022, attaining a ~11% CAGR NextGen enterprises – Digital Foundation, Digital Business (Gartner, IDC) and Digital Operations.

33 Under these building blocks are our key capabilities and Hybrid Cloud Service Offerings service offerings. Hybrid Cloud, Digital Workplace, Unified The ‘cloud first strategy’ (which prioritizes cloud adoption) Service Management and Cybersecurity/Governance, Risk is giving way to a broader ‘cloud smart’ approach, which and Compliance are the offerings grouped under the Digital balances adoption to meet the unique and changing needs Foundation, which is the evolution of our industry leading of an enterprise. The smart approach dictates the use of a Infrastructure services. Consulting, Applications, Insights and variety of hybrid cloud environments that best service the IoT are the offerings under Digital Business. IT Operations, needs of the organization. Hybrid cloud infrastructure, with Managed Cybersecurity Services (CSFC), and Process its software-defined features, intelligent automation, AI-led Operations are the offerings under Digital Operations. These frameworks, container and API native architectures and capabilities are supported and complemented by a robust catalog-based consumption models provides scalability, ecosystem of partners and innovation labs. They are intrinsic flexibility and agility to the enterprise. components of ITBS that differentiate us and visibly enhance the overall value of our service to clients. Our hybrid cloud services span the entire breadth of Digital Foundation consulting, migration, modernization, systems integration, operations, management and consolidation. These services

The capabilities we offer as part of the Digital Foundation are powered by extreme automation and are designed for fall under what we have traditionally called Infrastructure a Consume-Configure-Build approach, with customized Management Services (IMS). They are at the core of the vertical-led solutions. The application of advanced enormous business transformation that enterprises are autonomics and service orchestration that leverage machine enabling by adopting digital technologies. learning (ML), artificial intelligence (AI) and cognitive solutions ensures zero-touch migration and operations in an The challenges that businesses face today have led to a environment that is adaptive, secure, scalable, self-learning shift in IT strategy. The trend of remote working, the need for and self-healing. collaboration across ecosystems, innovation around products, the need to provide enhanced consumer experiences and the Behind these offerings are HCL’s co-innovation labs, intense quest to secure digital assets have led enterprises dedicated Centers of Excellence (CoEs), a strong partner to leverage advanced technologies like automation and ecosystem and delivery centers across the globe, which give artificial intelligence, real-time analytics and intelligent and clients the means to maximize business outcomes from their adaptive security. HCL IMS enables Global 2000 enterprises cloud investments. and others to achieve their goals through multiple robust and scalable NextGen offerings. Digital Workplace Services HCL Digital Workplace Services are designed to “put people Alliances and ecosystems play a key role in shaping our first” – a key ask of forward-thinking clients who are putting offerings under Digital Foundation, enabling us to develop employees at the center of their processes. The goal of this strong practices in alternative commercial and consumption B2E service is to provide employees with superior experience, models, modernization of people skills and an operational engagement and productivity through automation and AI-driven model driven by IP and products. HCL has excelled in solutions. The resulting workplaces are dynamic, intuitive, creating partnerships and strategic alliances with global personalized and provisioned on-time and on-demand. technology vendors and niche solution providers to create joint solutions and build new IP. We have enhanced our Our comprehensive suite of user-centric platforms, tools capabilities by certifying employees in partner products. and services reflects industry-leading preparedness to deliver future-ready ‘fluid workplaces’ powered by a Smart Our Ecosystem Partnerships include Google, Microsoft, Workplace model. The IP-led model brings an unrelenting Cisco, AWS, Dell, IBM and SAP among others. We also focus to helping employees engage with peers, collaborate have key strategic partnerships with such companies as from anywhere and leverage cutting-edge big data analytics Arista, Cohesity, Docker, Mesosphere, Nutanix, Pure Storage, and automation to elevate their productivity. Rubrik, Citrix, VMware, HPI, Intel, HPE and NetApp. The key tenets of the Smart Workplace model are:

Within the context of Digital Foundation, we offer an array of • Smart IT: Arming IT with real-time contextual data to products and services leveraging NextGen technologies: deliver superior user experience at every touch point

34 • Smart Machines: Providing detection, correction and a dynamic cybersecurity posture and mitigate uncertainty by healing capabilities across workplace assets neutralizing threats. Keeping true to the mantra – ‘adapt to • Smart User: Empowering users with solutions that require secure’ – our Dynamic Cybersecurity framework moves from minimum intervention/zero resolution solutions a static to a dynamic posture. In order to deal with an ever- • Smart Spaces: Powering workspaces with IoT escalating threat landscape, HCL offers a full spectrum of and wearables services that transform IT security and CISO functions from that of a gatekeeper to a business enabler. NextGen Network Services

HCL’s Network Services redefine network technology for With the limited availability of skilled security personnel, the next decade. Our industry-leading network technology organizations need to maximize the effectiveness of their portfolio is differentiated by an IP and AI-driven orchestration existing team. Our Cybersecurity and GRC services employ layer. This layer automates NetOps 2.0 through DRYiCETM experienced and skilled personnel in multi-disciplinary teams, NetBot and the cognitive network assessment tool, Nlighten. working across NextGen Cybersecurity Fusion Centers Our strong position as a network service integrator is (CSFCs) to operationalize the complete managed security supported by a carefully considered network strategy, talent services life cycle. transformation for modernization and unleashing the potential of our IPs. Operating from over 40 locations globally, HCL’s Cybersecurity and GRC Services protect some of the world’s largest Unified Service Management companies. This includes Global Delivery Centers, Emergency Response Teams (ERT) and CSFCs in Frisco, TX; Service Management has expanded its realms beyond IT. Gothenburg, Sweden; Noida, Bangalore and Chennai, India. Digitalization is forcing organizations to rethink their service models. The need is for on-demand service models that cater Enterprises across the globe, including a leading American to all organizational functions – HR, Admin, etc. These trends financial services group, a multinational oil and gas company are leading to the adoption of Unified Service Management. headquartered in London, the world’s leading auto parts HCL is continuously scaling its capability to address these manufacturing organization and a global dairy nutrition company new opportunities for technological intervention. have successfully used our Cybersecurity and GRC services.

We deliver Unified Service Management capabilities for a large number of clients and this in an integral part of most Digital Business large outsourcing contracts. We partner with some of the world’s leading Independent Software Vendors (ISV) and use Organizations worldwide are seeking to deliver superior a service-centric framework to replicate the principles of IT customer experience and operational excellence. This Service Management (ITSM) across all domains. necessitates reimagining the existing business and technology architecture to create an adaptable, nimble and Our key strategic partnerships in this area include modular core. The change is being driven by the proliferation ServiceNow, Cherwell, Flexera and DRYiCE™ Software. of APIs, microservices, low code platforms and DevOps and by businesses substantially investing in Artificial Intelligence Cybersecurity and GRC Services and Machine Learning capabilities. This has resulted in the The drivers of Industry 4.0 are centered around ubiquitous enhanced use of analytics as a powerful means to attain connectivity and digitalization. While new connections and business insights. technologies continue to support socio-economic progress, they also invite cyberattacks. And risks will only increase A growing number of clients are confidently using HCL’s in frequency and impact. HCL’s Cybersecurity and GRC digital and analytics capabilities to drive large-scale operating Services leverages advanced analytics, AI and ML-based model changes and modernization programs. We have technologies to provide cyber defense to clients. moved from discrete engagements and proof of concepts to larger digital initiatives ranging from digital strategy and Cybersecurity and GRC Services is an integral part of our roadmap to full execution at global scale. The acquisition of Mode 2 strategy, designed for organizations keen to embrace Strong-Bridge Envision earlier in the year has strengthened

35 HCL’s capabilities in guiding clients’ digital prioritization and Applications change management programs. FY20 saw a significant change in how clients look at their enterprise applications. The focus is shifting toward newer A combination of dynamic technology and industry ways of working – agility in operations and a holistic approach partnerships, our thought leadership, deep domain to automation, cost optimization and digital transformation. understanding and end-to-end digital execution capabilities This shift was fueled by innovation using new technologies have enabled us to provide industry leading digital products like digitization, application modernization, analytics, and solutions. leveraging ecosystems and Software as a Service offerings and integration. Key strategic partnerships in this area include Adobe, Salesforce, Pega, Mulesoft, Denodo, TIBCO, Red Hat, HCL is an established partner with leading enterprise Tableau, Appian, Blue Prism, Informatica, Software AG and application providers including SAP, Oracle and Microsoft. our own Products & Platform business segment. Our application services are comprehensive, flexible, scalable and customized to meet our client needs. In the Digital Consulting SAP space, HCL is making both horizontal and industry The digital world has people at its center. To succeed in IP investments to transform our clients’ traditional SAP digital transformation, businesses must focus on both landscape, focusing on S/4 HANA®, C/4HANA, ARIBA, and technology and the people who interact with technology. the SAP Cloud Platform (SCP). HCL’s Digital Consulting practice brings together decades of deep solution-based technology expertise with best-in-class We also saw exceptional traction with our solutions in the SaaS-based CRM (Customer Relationship Management), consulting services. The services are global, outcome based HCM (Human Capital Management), and SCM (Supply and people-focused. We drive both transformation as well as Chain Management) spaces, with demand for the former two revenue at scale by aligning technology needs with business doubling last year. We expect this trend to continue this year. goals, from strategy to execution.

HCL’s Power Objects delivers digital transformation for Our key consulting services include clients and helps them maximize the value of their Microsoft a) Digital strategy and planning. Realizing innovative enterprise technology investments through our technical business solutions to retain and grow customers. and advisory services. Our offerings include adoption and b) Industry capability definition and business process sustainment initiatives, a proactive and highly capable support optimization. Identifying and defining differentiated desk and co-sell-ready IP designed to extend the capabilities capabilities to improve performance and top line growth. of Microsoft Dynamics 365 and accelerate deployments. c) Experience strategy and design. Designing and building We strengthened our market differentiating ALT-ASM enterprise-wide experiences that speak to the unmet framework with NextGen digital operations addressing the needs of clients, employees and users. changing needs of customers. We currently work with over d) Program and product management. Guiding 100 marquee names in supporting and transforming their organizations from product vision and strategy to product application operations. roadmaps to development and delivery. e) Agile delivery transformation. Designing agile operating Artificial intelligence-led automation in application operations models that align delivery ecosystems to the performance saw significant demand with many clients moving from between customers, capabilities and features. pilots to production deployments of bots. We deployed over f) Organizational agility. Creating and executing 1,000 bots in production for our clients in the last 18 months, customized plans to ensure employees have the right level coupled with holistic roadmaps for movement to AIOps. of support, leadership and coaching to support change. HCL’s Integrated DevOps Engineering services based on full For a global wireless company, we removed complexity for stack engineers is increasing traction across industries and call center representatives, thereby improving the customer delivering key outcomes in ASM services for global enterprises. experience and creating a truly differentiated way of delivering These include a banking and financial group, a Fortune 500 customer service, resulting in $600M cost savings. delivery services firm and a major railroad company. 36 As a response to COVID-19, all ASM engagements providing IoT WoRKSTM, a dedicated IoT unit of HCL Technologies, 24x7 support to global companies seamlessly transitioned to targets organizations that want to maximize effectiveness their backup business continuity plans, ensuring zero impact and improve return on asset investments through best-in- to clients’ business and service levels. Our focus continues class IoT-driven solutions. These solutions help our clients to remain on creating agile work environments, reducing to transform their businesses by creating more efficient dependencies on third-party contracts and delivering more processes, new revenue streams and models that deliver from offshore and nearshore locations. measurable business outcomes.

Insights IoT WoRKSTM uses IP to differentiate itself. These include a We take a platform-based approach to providing NextGen Decentralized Trial Solution for life sciences and healthcare; insights to our clients. This is augmented by strong industry- a mature solutions portfolio with close to 40 solutions; and aligned solutions and acquisitions-based capability building. an end-to-end Define, Build, and Run framework across all Our approach for delivering data driven experience and service offerings. These are combined with a best-in-class delivery ecosystem that uses modern methodologies such as insights consists of four key pillars: rapid prototyping, an in-house innovation initiative, vibration a) Adaptive Data Platform: A “data first” approach to analysis for predictive maintenance and radar technology for transform existing data platforms into a future-ready footfall analytics. A host of surround capabilities and services responsive data platform, capable of delivering complete the offering: IoT COLLAB™, a space to co-create real-time intelligence. an IoT-led transformation roadmap with our clients, and an b) Intelligent Data Management: Decouples the underlying immersive, intensive, customer-centered Innovation-by- storage ecosystem from data management aspects and Design framework. focuses on ethical data governance, self-healing data quality, universal metadata management, automated data IoT WoRKS™ has launched new solutions over the past year lifecycle management and master data management. to deliver augmented insights and outcomes to our clients. c) Consumption Based Analytics: For ‘Uberized’ insights For instance, a grocery store chain based in North America delivery enabled through a functionally or divisionally used our Real-time In-store Insights (RII) Solution to revamp organized catalog of all data and analytics assets to their shopping experience. We uniquely adapted the IoT WoRKS™ IATM solution for an American medical devices promote collaboration, reuse, self-service infusing company to sense, alert and help prevent leakage in medical predictability and transparency in analytics services. devices with a high value and a low shelf life. IoT WoRKS™ d) Applied AI: Delivering AI solutions that are driven by Human also provided its expertise on predictive analytics and asset Centricity, Design Thinking and experimentation @ scale. management modeling for a large utilities company based in A number of enterprises across the globe have successfully the UK. deployed our insights platforms. For instance, our Data Science suite is used to understand customer behavior Digital Operations better and drive predictive analytics. This has maximized the potential revenue streams for a large North American fast Operations determine how strategy and technology work food and convenience store client while improving customer together seamlessly and securely to deliver maximum value experience. In another instance, we deployed our AI and across the functions. From product development, planning, ML-based solutions to reduce global shipment times for a sourcing, manufacturing and warehousing to logistics and large logistics client, increasing their customer retention and services, all functions internally and externally must work in enabling them to capture additional market share. unison. The operations ecosystem must have the requisite IoT WoRKS™ capabilities, partnerships, technology and plan to propel efficiency and effectiveness. HCL’s Digital Operations building IoT has large-scale use cases in both the consumer and blocks of Integrated IT Operations (IIOPS), Cybersecurity enterprise segments, especially in asset-heavy industries Fusion Centers (CSFC) and Process Operations focus on such as manufacturing, life sciences and healthcare (LSH), digitizing and integrating processes across the enterprise, transportation, and energy and utilities (E&U). ensuring they stay in harmony. 37 Integrated IT Operations (IIOPS) are doing this with one eye on cost reduction and compliance/ risk management and the other on providing sustained profitable Integrated IT Ops (IIOPS) is a new hybrid operating model. growth and superior customer experiences. Based on the pillars of the AIOPS approach, cross-skilled teams, operations best practices and cultural transformation, HCL Digital Process Operations (DPO) made an early prediction it provides a combined approach of classic Ops Models of this inflection point helping us to radically shift our business (ICC, DCOps, AppOps, NetOps) and evolving Ops Models model from cost arbitrage-based outsourcing to ‘Process- (CloudOps, DevSecOps, SRE/PRE & FinOps). The hybrid First, Technology-led Digital Operations’. Our strategy around model leverages a common foundational approach of digital operations is a tiered digital operations pyramid focusing Autonomics and Unified Service Management across ITIL/ on three broad stacks – process architecture, technology IT4IT/SAFe Agile models. architecture and experience architecture. These stacks determine the velocity and magnitude of business success an HCL is pioneering the concept of IIOPS, defining new frontiers organization achieves. in this field to enhance delivery and operational experiences for our clients. We bring in pragmatic automation through Process architecture sits in the middle stack, enabling process lean, HCL’s DRYiCE automation and orchestration tools and transformation using our proprietary process engineering and simplified processes that drive extreme efficiency and agility orchestration tools. Technology architecture lies at the bottom into IT operations. We also partner with some of the world’s leveraging the underlying technology landscape enabled by leading Independent Software Vendors (ISV) to deliver autonomics. Experience architecture forms the top of the stack, continuous service assurance for their digital transformation. where domain-led, technology-enabled knowledge workers Our key strategic partnerships include Moogsoft, Dynatrace, create a digital workforce to amplify customer experience. Splunk and our own DRYiCETM Software division. The COVID-19 pandemic has further led to fundamental Cyber Security Fusion Centers (CSFC) changes in business models across industries, characterized by new avenues of customer engagement, supply chain resilience, Through a combination of an expert team, advanced adjacent products/services, alternate fulfillment models and security analytics, leading threat intelligence and mature remote workforce management. There is an urgent need to process automation, Cybersecurity Fusion Centers (CSFCs) reimagine operations through a human-centric approach that integrate the capabilities of Intelligent Security Orchestration, can accelerate human and machine collaboration. To collaborate Automation and Response. Intelligent Orchestration takes with human ingenuity, we introduced our newest solution, a complex and disparate environment of products and a fully digital co-worker called ‘digitalCOLLEAGUE’. The processes and weaves them together into a robust system to ‘digitalCOLLEAGUE’ framework is designed to work alongside a guide analysts to a fast and effective resolution. Our CSFCs human workforce in the form of chatbots, intelligent analytics for leverage the data collected from the comprehensive IT stack next best action, robotic process automation and insight-driven to deliver proactive threat monitoring and comprehensive dashboards. This human-machine collaboration increases protection. This helps the security teams share information top-line growth, capital productivity, cost efficiency, operational and collaborate closely with clients and heighten their effectiveness, customer satisfaction and return on asset operational security posture so that they are prepared on investment. It also works as a strong incentive for millennials, time every time for any eventual incident. We have 6 CSFCs, who want workplaces that improve productivity, to consider HCL strategically located in Texas (US), Gothenburg (Sweden) and as an employer of choice. Noida, Bangalore and Chennai (India).

Process Operations DPO provides technology-led digital operations services to over 100 clients across industries including many Fortune 500/ Changing business environments and stressful market Global 2000 organizations. With state-of-the-art delivery centers conditions are forcing even the most established enterprises across India, Europe, Ireland, Latin America, Philippines, the US into transforming quickly. Evolving customer expectations are and the UK, HCL DPO leverages its Integrated Global Delivery disrupting the traditional cost/labor arbitrage of business process Model (IGDM) to provide clients with best-in-class services. outsourcing (BPO) services. Legacy processes are being streamlined through innovative process-centric methodologies HCL has partnerships with leading product organizations to make them more standardized, agile and lean. Enterprises centered on building NextGen automation services.

38 These partnerships enable HCL clients to move faster with Key factors driving enterprises’ focus on digital engineering innovations in their highly competitive businesses which are include changing customer preferences, growing competition, being re-defined by a new era in IT solutions. pressure on margins, products becoming commodities and a reduction in product lifecycles. To address these challenges, Key Strategic Partnerships include UiPath, AA, and Blueprism. companies are investing in digital engineering and building Smart Products. They are also looking at upgrading their Engineering and R&D Services (ERS) manufacturing set-up to enable Smart Manufacturing. Benefits of digital engineering include higher efficiency, better Engineering and R&D Services primarily include services throughput, delivering competitive advantage and improved across the product lifecycle – from conceptualization, design, customer experience. engineering and sustenance to new product introduction across varied products and platforms. The advent of new According to NASSCOM, global ER&D spend reached $780 technologies like 5G, AI/ML, Edge Computing, Blockchain, billion in 2019 with 5.4% YoY growth. It is set to reach $ 1,075 IoT, AR/VR, Cloud and 3D printing has revolutionized the billion in 2025. Of this, digital engineering spend is going to ways in which products are being designed, manufactured account for 36% of overall ER&D spend. and serviced. HCL’s Engineering and R&D Services (ERS) division provides Digital Engineering, which leverages these technologies to Product Engineering, Platform Engineering and Operational build connected, smart and intelligent products, is driving the Technology services to 65 of the Top 100 R&D spenders next phase of growth for the sector. Key digital themes driving across 9 industries. HCL’s Product Engineering Services the digital engineering spend include Connected Design, portfolio primarily focuses on designing products aligned to Connected Plant and Connected Products & Services. It also changing client preferences and deploying the latest tools includes collaboration with the ecosystem and offering as-a- and technologies. Platform Engineering Services cover service model to create world class consumer experiences. end-to-end platform ideation, build, modernization and

39 support services, and also includes platform monetization to converging with significant investments being made by many help create new revenue streams. Operational Technology technology companies. Services covers plant engineering and manufacturing operations services to ensure improved factory output. We 5G is another technology which is impacting every have a number of service propositions to help our clients in industry. 4G to 5G is the next big leap in communications these three broad areas. technology, promising superfast speed, massive machine- type communication, energy savings and ultra-reliable low HCL’s ERS is ranked by Everest Group among the Top 3 latency communication. 5G is a key enabler for a smart global engineering service providers (ESPs) and is ranked and connected world, with a number of use cases around connected and autonomous vehicles, telemedicine, smart as the No. 1 broad-based ESP in the world. HCL’s leadership factories, smart cities and OTT streaming. HCL has invested position is recognized by all the leading research and in building various solutions to leverage 5G and foster consulting firms in their various competitive benchmarking innovation capabilities. reports. With our product engineering DNA and over four decades of experience in developing world class products, Operational technologies are also seeing a significant change HCL ERS is uniquely positioned to help our clients in their with the adoption of new initiatives and technologies such as product transformation journey towards digital. Engineering IoT, AR/VR, Industry 4.0, factory of the future and predictive transformation is a continuous journey where the focus is maintenance. In the connected world, digital thread and digital on time-to-profit and time-to-market. We help our clients twins are gaining momentum to address challenges related accelerate time-to-profit by complementing their R&D efforts to collaboration and optimization of resources. Enterprises and focusing on release activities, bringing in aspects of are exploring avenues to integrate siloed functions (such sales, deployment and monetization upfront into the design. as Innovation, Engineering, Manufacturing, Supply Chain, This attention to time-to-market and time-to-profit ultimately Procurement, Suppliers, After Sales) to improve collaboration maximizes return on innovation. We have partnered with our and overall improve the performance. Softwarization is clients across the globe to launch 1,000+ products and create another theme which is driving significant investments in $50 B+ revenue. industries such as telecom, ISV and healthcare.

Today, HCL ERS proudly partners with over 330 global Global enterprises are increasingly looking at partners like enterprises and has long standing relationships with 90% of HCL ERS for scale and domain knowledge as well as best our top 20 clients. Our unique differentiation is our practices from other industries. Given the ever-increasing solution-led, technology-driven and implementation-focused uncertainty in the market, there is increasing demand for approach. ERS has a strong innovation culture, resulting outcome-based pricing and risk-sharing business models. in IP and strategic innovations, building on that culture by HCL is known for its client-centric engagement models, in which it becomes a partner in our clients’ transformation leveraging alliances, startups and key academic research for journey. Apart from owning the complete product engineering co-creation and co-innovation with clients. HCL’s responsibility for selected products, HCL also goes the extra solution-led approach, with a portfolio of 50+ solutions, mile to jointly take products to market. helps clients accelerate development and monetize services. HCL’s investments in over 80 engineering labs (for example, environmental compliance, certification and benchmarking) Products and Platforms and Centers of Excellence (in niche areas such as high- Our Products & Platforms segment comprises the HCL performance computing, automation, imaging, big data and Software Division, Action software, and an IP partnership analytics, Industry 4.0, IoT, 5G, Robotics and others) have with DXC, which together account for a significant part of our resulted in an ecosystem of comprehensive engineering Mode 3 revenue. In addition, our Mode 3 portfolio of IP-led services from concept to profit for our clients across domains. offerings includes DRYiCE™ Software, HCL’s leading solution for enterprise automation and AI-based transformation As traditional industry boundaries are vanishing, companies initiatives, and certain IPs from our Engineering & R&D are increasingly investing in digital engineering to drive Services portfolio. (These will be discussed here, although competitive advantage, improve time to market, enter their revenue is classified under the ITBS and ERS segments, new markets and improve customer experiences. Best respectively.). Products and Platforms segment has grown practices are being leveraged from unrelated industries. For significantly over the last few years through a combination of example, in the automotive sector many other industries are organic and inorganic growth initiatives.

40 HCL Software Division • Domino V11 – A rapid application development platform that allows businesses to build applications and processes with Introduced in 2019 to operate HCL Technologies’ primary new enhancements. The Notes Domino V11 bundle features enterprise software product business, HCL Software focuses the following add-ons: Designer V11/Traveler V11/Certificate on growing underserved markets which have a tremendous Authority Administrator 3.0 (CAA). opportunity for innovation. HCL Software develops, markets, HCL Software has delivered key outcomes for enterprises sells and supports more than 20 product families in the areas of: across the globe. Highlights include a deal with a major • Client Experience – For delivering impactful client journeys European bank for BigFix, our end-point management • Digital Solutions – For enterprise digitalization and platform, and an agreement with a leading US-based productivity automotive aftermarket parts provider to be their customer- • DevSecOps – For developing operations and security tools facing digital marketing and commerce engine. • Automation/Security – For secure automation and unified end-point management The outlook for HCL Software is positive for the coming year,

We operate in key segments of the large market for enterprise assuming that the world economy continues to recover from software. The worldwide low-code development platform the COVID-19 pandemic. An excellent financial year preceded market size, which includes our Domino offering, is expected us that forged and solidified relationships with thousands of to grow to $27.23 billion by 2022, at a CAGR of 44.49%. The clients that is the foundation for our future. We will continue to market for unified endpoint management, which concerns our gain the trust of our clients with the investments we make in BigFix offering, is expected to grow from $1.43 billion in 2017 our products. to $9.67 billion by 2023, at a CAGR of 37.48%. Through 2022, the Application Security Testing market, which includes our DRYiCE™ Software AppScan product, is projected to have a CAGR of 10%. This According to the recent International Data Corporation (IDC) continues to be a fast-growing segment in the information Worldwide Artificial Intelligence Systems Spending Guide, security space, which is expected to grow at a five-year spending on AI systems will reach $97.9 billion in 2023. The CAGR of 9%. compound annual growth rate (CAGR) for the 2018-2023 HCL Software completed FY20 with strong momentum as it forecast period will be 28.4%. onboarded nearly 9,000 clients and partners and completed DRYiCE™, a dedicated organic IP-based software unit of over 10,000 sales transactions in total. Among the industry HCL, is HCL’s leading solution for enterprise automation and sectors, we see a lot of potential in banking and financial AI-based transformation initiatives. It focuses on building services, healthcare, government and consumer product firms. products for transforming and simplifying IT and business operations by leveraging AI and Cloud. Our exclusive HCL Software continues to invest in products and has products enable enterprises to operate in a lean, fast and announced numerous product releases. We have delivered cost-efficient manner, delivering superior business outcomes. nearly 450 product releases, over 15 major releases and more than 1,400 enhancements. The improvements we have made The DRYiCE™ portfolio focuses on three core areas: AIOPS, are greatly appreciated by our clients, who have rewarded XaaS orchestration and business flow intelligence. It is us with a 20% increase in our client satisfaction score. The increasingly recognized as the AI foundation of our clients’ most notable launch this year was Domino v11, representing a enterprise solutions through our global delivery capabilities. milestone in HCL’s commitment to modernize and innovate on DRYiCE™ products have been developed based on the the Domino ecosystem, and transform over 10 million enterprise- experience HCL gathered while managing some of the grade apps powering business for more than 15,000 clients. Our world’s largest and most complex IT environments. We have major product releases for the year were: witnessed first-hand how existing software products were • Digital Experience V9.5 – A digital experience management unable to fix real-world issues. With DRYiCE™ products, platform, combining production docker and Kubernetes clients have complete control over what to automate, where to support with a digital asset management capability. automate, and the level of automation implemented.

41 DRYiCE™ has delivered key outcomes for enterprises across capability to modernize the legacy product set across three the globe. Some highlights include: a leading US-based key areas: Core Banking, Lending and Payments. In Core life sciences and healthcare company choosing DRYiCE™ Banking, we have developed APIs, integrated tools, and Lucy as their Cognitive Virtual Assistant (CVA) for internal migrated key functional modules to offer a cloud-based employees; a leading European insurance company selecting solution in a hosted model. In Lending, we have enhanced the DRYiCETM MyCloud to manage and deploy infrastructure-as- platform with added functionality and third-party integration. a-service (IaaS) and platform-as-a-service (PaaS) for their In Payments, we have created a new cloud-native payment hybrid cloud environment; and a European networking and hub architecture for a modern, global multi-tenant platform telecom company selecting DRYiCETM iAutomate to enable AI offering. Since inception, this partnership has positioned HCL driven intelligent automation of voluminous and repetitive IT as a full-service provider of platforms, solutions and services. related issues.

Actian Avalanche Hybrid BUILDING Cloud Data Platform OUR BRAND During the previous financial year FY19, HCL acquired Actian, a leading global vendor of hybrid data management TO PROPEL GROWTH and analytics products based in Palo Alto, CA. Actian plays a critical role in enhancing HCL’s Mode 3 offerings in data With a vision of further enhancing its industry leading growth, management products and platforms. HCL promotes and positions the business in a holistic manner to build and increase its Brand value, deepen relationships As part of our next-generation services, we are also and experiences with clients and ecosystem partners, and conducting proofs of concepts and pilots for clients to plan, enable HCL’s Client Partners and sales professionals to prioritize and deploy transformations to next generation hybrid maximize their potential. HCL extends its reach through the cloud data warehousing technologies. We are capitalizing ecosystem by connecting employees, clients, prospects, on Actian’s capabilities to create end-to-end hybrid data influencers and other stakeholders through a series of solutions for all major industry business units. thought leadership experiences, including global and local During FY20 Actian announced Actian Avalanche Real-Time forums, events, campaigns, client immersion programs, Connected Data Warehouse. This innovative hybrid solution customer advisory boards and eminence programs. Our delivers industry leading scalability and price performance focus entails strengthening of value propositions, generating and is the first cloud data warehouse to offer enterprise demand through systematic digital campaigns, simplifying integration capabilities natively built into the product. It and enriching client buying journeys and attracting new enables enterprises to rapidly and inexpensively harness their clients at scale. Additionally, HCL’s Center for Design and diverse data sources for use in high performance analytics, Experience (CODE) is our in-house, full capability digital and creative agency supporting the company. both in the cloud and on-premise. This Actian Avalanche offering, which supports the Microsoft Azure, AWS and The strategy for marketing the company is strengthened Google Cloud platforms, features Avalanche Connect™ – an and supported in five key areas: Branding & Influence, enterprise-class data-integration capability that seamlessly Ecosystem Experience, Sales Enablement, Thought supports connections with hundreds of popular SaaS and on- Leadership and Communications. The strategy is applied premise applications. across HCL at company, segment, business unit and enablement function levels. Banking Transformation Platform

We have elevated HCL’s brand value as a relevant, leading HCL has an IP partnership with DXC which leverages our global technology company through platforms such as the functional expertise in banking and our product engineering World Economic Forum and country-specific 42 Global-to-Local campaigns linking technology with human- “Building Resilient Digital Enterprises” through special centric issues, championing equality, diversity and inclusion, “OneHCL” ecosystem events that showcase our cultural inspiration and sustainability. These platforms have Industry expertise, Business Segments, and offerings, positioned HCL as a premier brand, earning class-leading complemented by innovation labs, new capabilities and analyst recognitions, brand rankings, media coverage in partnerships. Bringing together existing and prospective traditional outlets, new media and leading publications, and clients, employees, external influencers, government new partnerships with institutions to expand HCL’s visibility representatives and policy makers, the media, academicians and relevance. We have engaged with prominent technology and experts, examples of ecosystem events include: and investment audiences through the Accelerate Series • Global innovation lab launches such as the Cybersecurity of Analyst and Advisor Days in Mumbai and Adelaide, and Fusion Center in Frisco, the SAP lab, and the IBM Red Hat the industry’s first virtual conference with over 400 analysts hybrid cloud services lab for Cloud Native in London and across 70 leading firms participating. We have expanded our Frisco client-driven executive forums through the Customer Advisory • Employer brand and recruiting events in new geographies: Board, Advanced Leadership Program, and the Eastern Europe, Guatemala and Mexico HCL Ecosystem Week including special cultural events with • Launch of new delivery centers in the US, France, CXO’s conducted in NYC and SFO through HCL Concerts. Australia and New Zealand HCL has engaged in leading roles at premier business and • Launch of new business units to support cloud industry events around the world: transformation initiatives (HCL GEBU, IBM BU and Microsoft BU) and Academies to enable them • World Economic Forum, Davos: A sophisticated presence (for IBM and Azure) that positioned HCL as an end-to-end technology provider • Launch of new HCL Software products: Domino V11, for the next decade, today. Digital Experience V9.5, BigFix V10, Unica V12 and • Sapphire Now: Showcasing the OneHCL perspective covering Mode 1-2-3 portfolios across enterprise core AppScan V10 SAP and offerings for IoT, DRYiCE™, Cloud, and HCL’s Marketing has received numerous external recognitions Products and Platforms. across the technology services sector for innovation and • Dreamforce: Showcasing Salesforce, MuleSoft and creativity, including the IT Services Marketing Association, Tableau offerings. the DMA Echo Asia Marketing Award and Influencer • Other major events (50k+ participants) include Hannover Marketing Awards. HCL’s initiatives with industry analysts Messe, Oracle OpenWorld and the Adobe Summit, and influencers has led to the company being positioned as among others. a business and technology leader in over 160 competitive HCL uniquely positions the company via campaigns assessments, among the top and the most of any company in including “Technology for the Next Decade, Today”, the industry.

43 HCL streamlined critical aspects of its recruiting workflow TALENTED with automation by introducing Techruit, a technology transformation initiative for talent acquisition. It reduces the PEOPLE cycle time from screening to selection through improved process efficiency, resulting in an improved recruitment ARE AT THE CENTER OF HCL experience and quality.

In FY20, HCL Technologies witnessed the healthy addition The intent of integration is to provide an end-to-end of new employees and currently stands at a global employee converged selection process through a search and match strength of 149,173. Our emphasis and commitment to talent tool and a digital assessment and interview management localization offers us a competitive advantage in a tightening platform for recruiters, hiring managers and candidates to regulatory environment with respect to workforce mobility. In reduce the cycle time from screening to selection through the United States, we have more than 17,920 employees with improved process efficiency, resulting in improved recruitment 67.1% localization. We improved our gender diversity with a experience and quality of hire. 30% increase in women occupying senior leadership roles by the end of FY20. Under Techruit, there are three key initiatives bringing innovative transformation to HCL’s Talent Acquisition suite. Our focus on growth in New Vistas (select smaller cities) in 1. Recruitment automation for resume screening – AI & NLP India to enable higher operational resilience, stability, and based sourcing tool: To address the first phase of recruiting scalability continues. The employee strength in the cities which is resume screening, HCL powered its applicant under our New Vistas program in India (Lucknow, Madurai, tracking system with an AI & NLP based sourcing platform. Nagpur, and Vijayawada) is up by 26% from the last fiscal Recruitment automation applied to resume screening year. We established a skill development center in Lucknow proves be a boon to reduce time to hire as it automates a and the development of housing infrastructure is underway redundant, repetitive task and allows recruiters to re-focus their time on higher value priorities such as talking to Talent Acquisition candidates to assess their personalities and culture fit. We have leveraged digital technologies to enhance the quality and experience of our talent acquisition (TA) programs. 2. Recruitment automation for pre-qualification/interest check: HCL’s Talent Acquisition suite includes a chatbot (IVR) for interest check with candidates. Recruitment automation in the form of chatbots (IVR) improves the candidate experience and enhances the pre-qualification capabilities of a human recruiter without additional strain on their time.

3. Recruitment automation for interviews and assessments: HCL acknowledges that an applicant’s digital footprint travels faster than his physical candidature. Therefore, the Applicant Tracking system is now equipped with a comprehensive auto proctored scheduling and assessment platform which auto-schedules and records video interviews and assessments. It also captures and maintains candidate data through seamless integration with the ATS. With iOS and android phone apps, it ensures a great user experience for candidates and recruiters as well as hiring managers.

44 HCL Talent Acquisition completely aligns with the organization’s unique employees were trained on digital skills. Our employees business goals to ensure automation and is set to accelerate have invested over 68,000 learning hours in leadership and the business toward even greater success. professional skills programs across talent segments.

Talent Development Diversity and Inclusion

At HCL, Talent Development continues to create value and go The company’s vision, strategy and direction are strongly beyond the norm to be a game changer to build capabilities anchored around the principles of Diversity, Inclusion and and competence of HCL’s employee workforce, ensuring their Equality, focusing on talent attraction, talent growth and relevance in the ‘now and the future’ of workplace. Talent retention. Our programs for career development, networking, mentoring and advocacy support building an inclusive Development is a key partner to the organization’s current workforce which goes beyond demographic differences to and future strategic imperatives where business strategies include gender, nationality, culture, ethnicity, age, sexual are tied into its talent development approach. orientation and the differing abilities of individuals.

We have been highly iterative and agile in our approach to At HCL we believe inclusion is achieved when people believe designing and deploying learning solutions for each talent that their unique and authentic self is valued, they are treated segment, providing an integrated and comprehensive learning equally and with respect, they feel safe while expressing their ecosystem focused on the development of our employees and opinion, and when they are empowered to take decisions to driving key business outcomes. grow and do their best. Establishing our Inclusion Lab has helped in creating a systemic top down approach that highlights A versatile and learner-centric learning ecosystem comprising inclusive leadership as a core pillar within the organization’s multiple and varied modes of learning aligns itself well to the diversity and inclusion strategy. It has helped to incorporate sensibilities of learners across experience, functions and inclusion into our organization’s values to guide behaviors. learning styles. The embedded agility was recently leveraged to respond adequately to the ‘new normal’ ways of working In light of the transition to new ways of working and as it took shape. Engagement through learning optimally heightened uncertainty in the context of the Global Pandemic, and optimistically engages the workforce and provides them HCL is responding to the new normal by emphasizing and with the necessary cognitive and emotional anchors as fostering inclusion through creating meaningful connections, they navigate each day and each decision. This was offered leveraging technology smartly, organizing resources, sharing through a curated offering ‘Learning in my Locker’. concerns and exhibiting optimism.

The Skills@Scale program is a way by which the company The company has seen an increase of 30% women in senior continuously anticipates the skills that need to be built at leadership from last year and the gender diversity ratio for scale and will hence make the organization future-ready. It is senior leadership stands at 7.5%, up from 5.4% last year. based on an analytics-based prediction of what skills will be Overall, women constitute 26.8% of our employee strength. challenging to fulfill and redirect our development efforts to HCL has been well recognized by various industry forums build those very skills internally. For each of our businesses, and leading associations across the globe for distinctive this list helps us ask if: D&I practices. HCL received the NASSCOM Corporate • The predicted skills have enough demand. Award for “Excellence in Gender Inclusion”. HCL has been • Enough employees are learning and clearing the standards recognized by Jobsforher for Top 5 Most Innovative Practices: we have set. DivHERsity Programs. HCL has also been recognized as the • Our curriculum is up-to-date and aligned with the market. Best 50 People Capital Index (PCI) companies for 2019. • Most importantly, our internal fulfillment post-development is increasing because of our efforts. HR Compliance at HCL • This tracking and leadership governance also helps us At HCL, HR compliance is an integral part of the review and improve program effectiveness. HR processes and procedures. The company has a In FY20, we have invested 4.1 million hours in training. 82,675 comprehensive HR compliance framework which is unique employees were trained in generic skills while 34,707 periodically reviewed with all relevant stakeholders to ensure

45 that they are relevant and appropriately aligned with the local regulations/requirements. This framework clearly defines the compliance elements, responsibility and the control mechanisms that exist to meet the compliance.

A holistic risk assessment is conducted on these elements to identify risks, assess the current controls and amend them as needed to continuously improve the compliance levels.

In addition, there is an effective institutionalized protocol to identify any changes in local law, assess the impact and implement the revised policies/procedures in the shortest time possible.

The company also conducts periodic audits, either internal or through external stakeholders, to ensure adherence to regulations. There is a centralized team to design and implement the changes as well as provide governance and innovation. Guided by the United Nations Sustainable and oversight to the HR compliance program. This team Development Goals, we view sustainability in three ways – constantly collaborates with multiple cross-functional teams economic, social and environmental, known informally as to enhance the framework. Profit, People and the Planet.

Technology plays a key element in the successful HCL Foundation implementation of the HR Compliance, and HCL has implemented solutions to ensure that timely tracking and HCL Foundation, the CSR arm of HCL Technologies, transparent reporting of compliance elements is achieved. continues to work toward positive transformative shifts in the lives of vulnerable communities in India and around the world. There also exists a strong governance mechanism managed In FY20 we took meaningful action toward combating climate by the central compliance team to ensure that the risks are change. A better planet with all people achieving peace and mitigated or eliminated in a timely manner. prosperity is at the heart and culture of HCL.

Through our flagship initiatives HCL Samuday, HCL Grant CORPORATE and HCL Uday, the HCL Foundation impacted more than 1.5 million people, creating opportunities to break the cycle SOCIAL of poverty through Early Childhood Care and Development RESPONSIBILITY (ECCD), Education, Health, Livelihoods, Water Sanitation and Hygiene (WASH), and Disaster Risk Reduction and Response FOR A BETTER WORLD (DRR) verticals in rural and urban communities. HCL Foundation also addressed environmental poverty through mass plantation, water conservation and HCL builds sustainability principles and actions into the rejuvenation, and animal welfare initiatives. strategy, culture and day-to-day operations of our company.

We aim to improve the lives of people around the planet, While we continue to make progress in a sustainable and engaging our employees, clients, stakeholders, and the scalable approach to addressing social issues, the soul of communities we live in, to a higher purpose. We focus on HCL’s CSR is still defined by its passionate “Power of One.” areas where we can make the most difference: health, These are HCL employee volunteers and contributors who education, technology, jobs and people who are denied offer their personal time and commitment toward the benefits and access afforded by science, technology social upliftment.

46 Flagship Programs — Key Highlights replicable model – a source code for economic and social development of rural areas. Currently implemented in three blocks of Hardoi district in Uttar Pradesh, the program covers Power of One 164 Gram Panchayats, comprising of 765 villages and 90,000 households, totaling a population of 600,000 people. Samuday, Power of One is the backbone for our employee-led CSR through its interventions across six verticals for holistic rural and one of the key programs of HCL Foundation. Power of development – agriculture, education, health, infrastructure, One was introduced with the idea that a small contribution livelihood, and WASH (Water, Sanitation, and Hygiene) – has can make a huge difference in people’s lives and can go a been able to bring holistic development in the region. long way in making a significant impact in the society. Our HCL Community Champions have shown great commitment Clean NOIDA toward all volunteer-based activities of HCL Foundation and continue to support our mission of transforming lives and Clean NOIDA – an HCL Foundation initiative started spreading goodwill. in 2019 – carries out works and services to implement effective solid waste management in Noida in partnership HCL Uday with the Noida Development Authority. This initiative aims

With a vision of clean, green, healthy and empowered to transform the city into a litter and waste-free region, via communities, HCL Foundation works to break the cycle of cleaning of garbage vulnerable points (GVPs) and provision urban poverty through its integrated urban development of cloth bags, among others. The initiative has covered 90 program – HCL Uday. Defining Uday’s approach is its intrinsic Residential Welfare Associations (RWAs) and 64 urban belief that the urban poor aspire to a life of dignity and self- villages, with a major focus on capacity building of relevant respect. Through this program, HCL Foundation creates stakeholders, intensive behavior change campaigns, opportunities through carefully designed strategies that awareness drives and technology solutions. A total of 3,375 speak both to their environment and to the ambitions of the volunteers and 13,776 participants have been engaged till community. HCL employee engagement and participation is a now through various events. key lever that spans across all programs. Recognitions HCL Grant • HCL Samuday and Project Clean NOIDA awarded

HCL Grant is one of the biggest and most coveted Fabulous Global Smart Cities Leaders at the 9th edition of institutionalized CSR grants in India that aims to recognize the World CSR Day Congress and Awards the rise of the Fifth Estate – the non-governmental • HCL Samuday Knowledge Partner for the Smart Village organizations (NGOs) and support their breakthrough projects Conclave 2019 reaching out to the rural communities in the country. • HCL Foundation felicitated by Save the Children with the ‘Changemaker Award’ at the Right Start National Summit In the fifth edition, HCL Grant received over 5,000 • HCL Foundation recognized by the Basic Directorate of registrations from NGOs representing all states of India in the Education, Government of Uttar Pradesh for creating a categories of Environment, Health and Education. The final pathway to new education and changing the horizon of the three recipients of the fifth edition of HCL Grant were selected education ecosystem of Uttar Pradesh after robust field assessment, due diligence and deliberations at the Sub-jury and Jury rounds. While the winners receive HCL Foundation Around the World their due reward, we also provide monetary support to the IIn FY20 the Power of One program has scaled beyond India runners-up in each category for one-year projects. to allow employees in all countries we operate and live in to HCL Samuday contribute to local societies, extending our values and goodwill with impact. Along with a ramp-up plan for Power of One in A rural development initiative, HCL Samuday was launched the US, we have launched local campaigns in Great Britain, in 2015 with an aim to develop a sustainable, scalable and Netherlands, Germany, Poland, France, Sweden and Australia.

47 Examples of successful programs include: USA RISK MANAGEMENT

• Newport Robotics Group – STEM program: Educating SECURING THE ENTERPRISE youth through technology • InspireNC – STEM program: Educating youth through new With the vision to integrate risk management with the innovative ways overall strategic and operational practices of HCL, we have • Habitat for Humanity of Wake County: Sponsoring the established an Enterprise Risk Management (ERM) Policy building of homes for Cary GDC employees and Framework. As a comprehensive set of components, • Rise Against Hunger: Providing food packaging events this provides the foundation for an organization-wide practice across GDCs designing, implementing, monitoring, reviewing and continually • Imagine Beyond Foundation: Organizing autism walks for Frisco employees improving risk management. The design of the HCL’s ERM • SOS Children’s Villages: Providing youth education and framework is based on the internationally recognized standard medical care “Enterprise Risk Management Integrating with Strategy and Performance” (COSO ERM Framework 2017), developed by Great Britain the Treadway Commission. This framework follows a top-down system, with objectives to distill insights and provide clarity • Prince’s Trust – Get Started with Technology series: Mobile on the key risks shaping company performance, support application development and digital learning skills with risk-informed decisions at the Board of Director, Executive the aim of making young adults employable through skills Management and Operational Management levels, ensure a training opportunities risk dialogue among the management team, and enable proper • Manchester United and Prince’s Trust collaboration for promotion of sports: Over 100 employees participated in risk oversight by the Board. Future Steps, the month-long fund-raising program Supply Side Risks South Africa Clients rely on technology players to drive their business • University of Johannesburg: Promotion of digital literacy outcomes from transformation initiatives to expand revenue through an inclusive 64-seat computer lab and optimize cost. On the supply side, the technology players • Nelson Mandela Foundation: Sponsoring the Mandela have become part of the fragmented market, with a few large Day Library Project as part of the literacy program in local players and the arrival of many boutique players, resulting in schools [Thuthuzekani Primary School and Elethu Themba tighter SLAs and competitive pricing. Failure to meet these Public School] and training of teachers to use the space to standards may result in loss of market share and lead to educate community children reduced growth across the top-line and bottom-line.

HCL has a robust governance in place to continuously assess clients’ expectations and work on proactive measures to deliver committed value. Our sales and delivery teams engage on a regular basis with our clients to ensure seamless execution of engagements, within the SLAs. Our delivery capabilities are equipped with a set of rich frameworks, IP, and accelerators to enable this execution.

To address future demand, we continuously invest in next-generation technology and skill development to stay relevant to our clients’ ecosystems. Our differentiated full-stack offerings help us maintain and enhance mindshare in clients. This has helped us build resilience and become immune to both internal as well as external challenges of the environment. 48 that we put medium-term sustainable measures in place to Pandemic and Infectious Disease Risk ensure continuity of all our operations and client deliverables. Our virtual governance and collaboration, both with internal HCL’s service delivery and business execution is impacted and external stakeholders, allows us to execute our business by the outbreak of infectious disease and viruses such as with minimal interruption. COVID-19. This can affect our business across multiple geographies. The specific risks related to various parts of the organization are listed below. Business Continuity Risk

Service Delivery & Client Commitments With the technology, geopolitical, societal, economic and environmental risks all coming together to create an We could experience outages or minor disruption in operations intrinsically complex and fast-changing global risk landscape, and service delivery due to the government lockdowns with our reputation as a leading global technology company most of our employees working from home and a few at client is often measured by our resilience to threats, and how locations or at HCL offices. Due to the new working model (work efficiently and effectively we respond to disruptive events. from home), service level agreements with our clients could be HCL faces business continuity risk if the organization is impacted causing clients to impose penalties or invoke the force unable to adapt and ensure the sustainability of its continuity majeure clause in their contract with HCL. planning by linking it to operational resiliency across key Future Business Prospects and Sales clients, delivery locations and core enabling functions. HCL could possibly see decline in sales as clients might put transformation projects or initiatives on hold due to the global An effective Business Continuity and Resilience program economic slowdown. is a key risk management strategy for HCL which involves elements of preparedness, adaptiveness, recovery and Technology supporting the new working model restoration. HCL continually improves its Business Continuity Work from home model puts us at a risk that infrastructure, Management (BCM) framework to ensure in the event of tools and processes might not adequately support this business disruption, we meet safety, continuity and recovery working arrangement which could lead to the disruption of best practices for employees, assets and business services. business operations and client delivery. In FY20, HCL extended the ISO 22301:2012 certification to key locations across the globe, demonstrating our focus on As part of Business Continuity Management, HCL has standardization and improvement of the resiliency posture established a Pandemic Response Plan to oversee our of the company. The HCL BCM framework incorporates global response and to monitor pandemic situations in business continuity, disaster recovery and crisis management locations that we operate in. We collaborate with leading and is designed to adapt and respond to the rapidly changing international medical, crisis management and travel security global environment. services firms to help us with accurate risk assessment and planning. When necessary we activate all remedial measures Geopolitical Risk to ensure employee safety and well-being. We have a robust governance process led by our Emergency Crisis A substantial amount of geopolitical change is occurring Management Team to review our holistic remedial measures in the world due to a shift in political alliances, economic at regular intervals. interconnectedness, economic confrontations and economic imbalance of power. All of these geopolitical parameters have a HCL has had a well-defined and structured pandemic direct impact on HCL business as we operate in 40+ countries. policy in place which is resilient and pragmatic and accords Current political views create perception challenges for winning paramount importance to employee safety & health and business for a foreign owned entity. Legislation which restricts client commitments. We have been actively engaged with the availability of work visas for skilled resources impacts our our clients and have executed the client-specific and HCL ability to deliver services which include project delays and internal operations-centric Business Continuity Plan that increase cost. ensures continuity in delivering to our client and employee commitments. HCL has been constantly reviewing the HCL has setup a geopolitical framework to assess geopolitical situation at hand with utmost priority and fully complying with and country specific risks on a periodic basis. We have a all government advisories and recommendations. Given the program to continuously assess and improve our brand extended nature of this situation, we have looked at ensuring narrative for clients and employees worldwide. HCL has been 49 expanding its business across various countries to minimize HCL continues to improve and evolve its Cyber and Information dependence on a country for revenue growth and service security posture by implementing a comprehensive program delivery. HCL has also implemented the strategy of hiring local across the enterprise. Capabilities include proactive detection talent to avoid adverse impact on business due to various and response measures and incidents are managed through restrictions on free mobility of technical staff. Over the past resolution and reported to management. The program ensures few years, HCL has been leading the localization of work force continuous awareness training to increase cyber security through a variety of programs. HCL has invested in a flexible hygiene. The Information and Cyber Security program is work force model of onsite, onshore, near shore and offshore to address these concerns and drive the best talent to solve integrated across the enterprise to ensure a strong security client business challenges. posture for HCL and its clients and has been validated by independent, industry recognized certifications. Distributed and Virtual Governance Risk Privacy Risk Due to the work from home model, distributed and virtual governance across HCL could lead to ineffective decision The access to internal, employee and client-owned data making to manage an organization of this size. presents an increased risk of non-compliance with privacy and data protection laws and regulations. This further creates HCL has upscaled its business practices with clearly defined a risk of damage to brand reputation and relationships roles and responsibilities. Even in normal times, HCL as a between HCL and its clients. Several countries have begun global organization operates and manages the organization imposing stringent regulatory requirements and penalties that remotely with leaders in various parts of the world working affect the way in which HCL handles personal data across in a 24x7 model. There is also a healthy reliance on video those jurisdictions. conferencing and other collaboration tools so that senior management teams can connect on a regular basis. HCL has created an enterprise wide Privacy & Data Protection Framework which includes governance, policies Regulatory Compliance Risk and procedures, training and awareness programs, privacy impact assessments, privacy by design, data mapping, As HCL is operating in various countries and is continuously third party contractual oversight, incident management adding new industry sectors and geographies, there and a mechanism for monitoring regulatory compliance is an increased risk of non-compliance with regulatory for every geography. This dynamic, modular, risk-based requirements that are relevant to its business. privacy framework, bolstered further by industry-recognized HCL has established a comprehensive Risk & Compliance certifications and accreditations, enables HCL to ensure organization that provides global analysis, assessment, policy compliance with applicable regulations and established and governance for risks related to information security, privacy standards and leading practices. privacy, business continuity, third party engagements and operational activities. HCL has put in place a comprehensive Talent management risk global regulatory compliance framework to track regulatory As HCL continues its growth journey, one of the employee- compliances globally. It is not only designed to avoid centric risks is talent availability and readiness. A related violation of laws and regulations, but also to protect the talent risk is to ensure career development for our Company’s reputation, employees and clients. Assessments employees globally. are carried out and detailed checklists are maintained to ensure compliance. In addition to this, quarterly compliance At HCL, we focus on the workplace of tomorrow that certificates are presented to the Board of Directors by the promotes a collaborative and transparent organizational respective functions with responsibility for such compliances. culture. HCL is focused on deploying a robust training Information and Cyber Security Risk strategy to cater to the development needs of employees across leadership levels. This includes professional, As the cyber threat landscape evolves, risk of compromise to functional, technical and leadership development learning confidentiality, integrity and availability of HCL corporate and solutions. We help our employees reskill themselves and client data has the potential to impact HCL’s corporate mission. provide them with a new age skill identity. 50 With a constant focus on talent localization, we have to HCL has pioneered a unique inorganic growth model ensure that our hiring and engagement efforts for onsite that identifies value assets that can be enhanced through employees continue with vigor. For example, in the US, creative synergies. Since inception, HCL has executed HCL has made significant investments in Global Delivery several industry-first models that have subsequently become Centers, with a collection of strategic technology labs industry standards. We are confident that some of the recent creating new-age processes, applications and platforms for pursuits in this arena will bear fruit in the next few years. global clients. To ensure this, we have established an ongoing Integration and Performance Management program to enable acquired Our HR team continuously aims to reach each and every businesses and HCL to get the maximum returns on these employee to support them in their growth. Our strategy and investments. To complete this program, the performance of value is to provide intelligent career paths to our employees such acquired businesses is periodically reviewed by Board for internal opportunities. It allows an employee to turn their committees and corrective action is taken from time to time. aspirations to reality by building a career development plan Impairment of goodwill and other intangibles are evaluated at and a skill development plan that help them prepare and be ready for future opportunities in line with their aspirations. least once at the end of the year. HCL’s Career Connect not only suggests the vertical progression opportunities that an employee can leverage Tax-related Risk but also allows them to choose horizontal progressions. HCL is subject to taxes in numerous jurisdictions worldwide To overcome the risk of talent outflow, we are continuously and enjoys tax benefits in India on its Software exports under working on employee retention with our empowering culture, the Special Economic Zone scheme of the Government progressive HR policies, career growth opportunities and an employee-first philosophy. of India. Any changes in tax laws in India and other countries where HCL has significant presence can have an Succession Planning risk adverse impact on the effective tax rate of the Company. As HCL operates in several jurisdictions, transfer pricing There is an ongoing high demand for senior management arrangements among legal entities in these jurisdictions are talent across the globe in the technology industry, thereby risk always subject to review by various tax authorities. of attrition of HCL’s senior management. HCL’s specialized tax teams keep themselves abreast of To ensure business continuity and to mitigate the risk of a the latest tax developments in various jurisdictions and weak senior leadership pipeline, our leadership planning implements appropriate tax planning strategies based on includes succession planning and short-term backups at changes in tax laws in various countries. HCL also gets into all times. Talent Management, in partnership with Business advance transfer pricing arrangements in several countries and HR leaders, carry out a half-yearly activity to assess and gets the transfer pricing arrangements reviewed by the current Criticality, Capability and Risk index of the senior external consultants periodically. leaders. This acts as the cornerstone for determining and implementing the succession planning approach. We also Forex Exchange Risks work on competitive benchmarking of benefits to ensure that the morale of our critical resources is kept high. HCL derives a majority of its revenues from clients based outside India with over 97% of its revenues realized in foreign Acquisitions and Strategic currencies. Our delivery teams are also based across various Partnership Risks countries and as a result over 74% of its costs are denominated in foreign currencies. This exposes the company to any From time to time, HCL has acquired certain businesses and adverse movement in the exchange rates of foreign currencies. has entered into strategic partnerships with other companies. The success of these acquisitions and partnerships depends The company uses foreign exchange forward contracts and on several factors including proper integration of the acquired options to mitigate the risk of movements in foreign exchange employees with the rest of the company and optimum rates associated with receivables and forecasts transactions usage of synergies between the acquired business and the in certain foreign currencies. This is governed by policies and company. This exposes the company to risk of impairment of processes determined by the Board which defines the period of goodwill and other intangibles. hedges and the percentage of risk to be covered.

51 Profit after tax has increased from ` 8,606 crores in fiscal 2017 to ` 11,057 crores in fiscal 2020, with a compounded annual growth rate (CAGR) of 8.7% over the last three years.

The net worth of the Company has increased from ` 32,949 crores in fiscal 2017 to ` 51,267 crores in fiscal 2020, with a compounded annual growth rate (CAGR) of 15.9% over the last three years.

PERFORMANCE Operating cash flows of the Company has increased from TRENDS ` 8,995 crores in fiscal 2017 to ` 13,359 crores in fiscal 2020, with a compounded annual growth rate (CAGR) of 14.1% over Revenue has increased from ` 47,568 crores in fiscal 2017 the last three years. to ` 70,676 crores in fiscal 2020, with a compounded annual growth rate (CAGR) of 14.1% over the last three years.

52 Financial Performance

Consolidated results

This part of the Management Discussion and Analysis refers to the consolidated financial statements of HCL (“the Company” or “the Parent Company”) and its subsidiaries referred to as “the Group”. The discussion should be read in conjunction with the financial statements and related notes to the consolidated accounts of HCL for the year ended 31 March 2020 prepared in accordance with the Indian Accounting Standard (referred to as “Ind AS”), prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standard) rules as amended from time to time. Results of Operations (Consolidated): (` in Crores)

Comments: • Revenue from operations increased to ` 70,676 crore in FY 2020 as compared to ` 60,427 crore in FY 2019 resulting in a growth of 17.0%. • Profit before tax (PBT) increased to ` 13,980 crore in FY 2020 as compared to ` 12,622 crore in FY 2019 resulting in a growth of 10.8%. • Profit after tax (PAT) increased to ` 11,057 crore in FY 2020 as compared to ` 10,120 crore in FY 2019 resulting a growth of 9.3%.

Revenues

Operating segments are defined as components of an enterprise for which discrete financial information is available and whose results are reviewed regularly by the chief operating decision maker (CODM), for allocation of resources and assess performance. Till 31 March 2019, CODM evaluated the Group’s performance by business segment, comprising software services, infrastructure management services and business process outsourcing services.

53 Consequent to reorganization of its global operations due to technological changes and business requirements with increased focus to meet customer expectations and provide better services, the group effective 1 April 2019, has reorganized itself and derives its revenue from three segments viz IT and Business Services, Engineering and R&D Services and Products & Platform.

Segment information previously reported has been restated to present business segments following the change in composition of operating segments. This change in segment presentation does not affect the consolidated statements of income and comprehensive income, balance sheets or statements of cash flows.

Segment wise details are given below:

(` in Crores) Year Ended 31 March 2020 31 March 2019 Particulars Amount % of total Amount % of total % Increase IT and Business Services 50,742 71.8% 45,100 74.6% 12.5% Engineering and R&D services 11,819 16.7% 10,342 17.1% 14.3% Products & Platforms 8,115 11.5% 4,985 8.3% 62.8% Total Revenue 70,676 100.0% 60,427 100.0% 17.0%

Geography wise breakup of revenues

The Group also reviews its business on a geographic basis. The following table classifies total revenue by geographic areas:

(` in Crores) Year Ended 31 March 2020 31 March 2019 Geographical Mix Amount % of total Amount % of total % Increase America 40,798 57.8% 35,972 59.6% 13.4% Europe 19,397 27.4% 16,136 26.7% 20.2% India* 2,354 3.3% 2,118 3.5% 11.2% Rest of the world 8,127 11.5% 6,201 10.2% 31.1% Total Service Revenue 70,676 100.0% 60,427 100.0% 17.0%

*Includes revenue billed to India based captive of global customers • US geography has grown by 13.4%, Europe by 20.2% and Rest of the world by 31.1% in Fiscal 2020.

Employee benefits expense and outsourcing costs

(` in Crores)

Employee benefit expense includes salaries which have fixed and variable component, contributions to retirement and pension schemes. It also includes expenses incurred on staff welfare. 54 Outsourcing costs include a) outsourcing of several customers related activities e.g. hosting services, facilities management, disaster recovery, maintenance, break fix services etc. and b) hiring of third-party consultants from time to time to supplement the in-house teams.

Employee benefits expense has increased by ` 5,645 crores compared to previous year. The increase in employee cost is primarily on account of increase in number of employees (150,423 in fiscal 2020 as compared to 137,965 in fiscal 2019), change in mix of employees in various geographies and an increase in the average cost per employee due to normal salary revisions.

Other expenses

(` in Crores)

The group has adopted Ind – AS 116 “Leases” which has resulted in change in nature of expense from rent in previous period to depreciation cost for the right-of-use assets and finance cost for interest accrued on lease liability. This has resulted in reduction in rent cost from ` 761 crores in previous year to ` 99 crores in current year.

Depreciation and amortization expense

Depreciation and amortization expense as % of revenue has increased from 3.4% in the previous year to 4.8% in current year mainly on account of (a) increase in depreciation on Right-of-use assets by ` 637 crores (Refer previous para for explanation) and (b) amortization by ` 504 crores for intangibles and IP products largely on account of acquisitions consummated during current year.

Other Income

The details of Other Income are as follows: (` in Crores)

55 Exchange differences

The Group derives over 97% of its revenues in foreign currencies and over 74% of its costs are incurred in foreign currencies. This exposes the Group to risks of adverse variations in foreign currency exchange rates.

Exchange rates for major currencies with respect to INR are given below: -

The Group uses foreign exchange forward contracts and options to mitigate the risk of movement in foreign exchange rates associated with receivables and forecast transactions in certain foreign currencies. During the current fiscal year, the Group had an exchange (loss) / gain of (` 15) crores (previous year gain of ` 182 crores). These exchange differences are a) on account of restatement of foreign currency monetary assets and liabilities, b) exchange gain (loss) incurred on forward covers/ options on occurrence of hedge transactions for which cash flow hedge accounting is being followed, and c) mark to market impact of other hedges.

The foreign exchange forward contracts, options and interest rate swaps in respect of forecast transactions which meet the hedging criteria are designated as cash flow hedges. Changes in the derivative fair values (net of tax) that are designated as effective cash flow hedges are deferred and recorded in the hedging reserve account as a component of accumulated ‘other comprehensive income (loss)’ until the hedged transaction occurs and are then recognized in the statement of profit and loss. The total unrealized exchange (loss) gain (net of tax) recognized in the hedging reserve account as at 31 March 2020 is (` 307) crores (previous year gain of ` 171 crores).

Taxation

(` in Crores)

Tax expense as a percentage of profit before tax has increased from 19.8% in the previous year to 20.9% in fiscal 2020. Tax expense for the year includes the impact of acquisition of certain software products from IBM consummated on June 30, 2019. These products have been acquired under SEZ units and profits derived therefrom are 100% exempt from tax during the current financial year. As per provisions of Indian Income Tax Act, goodwill is deductible for computation of taxable profit. As the taxable profits of these units are 100% exempt from tax, deduction of goodwill for tax purposes does not provide any tax benefit during the current financial year. However, as per Ind AS, the Company is required to record tax expense by setting up deferred tax liability on tax deductible goodwill, which has resulted in increase in tax expense.

56 Financial Position (` in Crores) Particulars 31 March 2020 31 March 2019 ASSETS (a) Property, plant and equipment 5,494 5,293 (b) Capital work in progress 400 235 (c) Right-of-use assets 2,648 - (d) Goodwill 16,154 9,061 (e) Other intangible assets 13,194 8,534 (f) Other non-current assets 6,596 5,730 (g) Current assets 38,420 29,722 TOTAL ASSETS 82,906 58,575 EQUITY (a) Equity share capital 543 271 (b) Other equity 50,878 41,198 TOTAL EQUITY 51,421 41,469 LIABILITIES (a) Non - current liabilities 7,755 4,807 (b) Current liabilities 23,730 12,299 TOTAL EQUITY AND LIABILITIES 82,906 58,575

Property, plant and equipment and capital work in progress

The Group has made addition to gross block by ` 1,417 crores (previous year ` 1,898 crores) in property, plant & equipment during fiscal 2020, which mainly comprises computers and networking equipment, plant and equipment’s and investment in facilities.

Capital work-in-progress stood at ` 400 crores (previous year ` 235 crores).

Right-of-use assets

Effective 1 April 2019, the Group has adopted Ind AS 116, Leases, using modified retrospective method. The Group has elected the practical expedients, which allows the Group not to reassess, its prior conclusions about lease identification, lease classification and initial direct costs. The comparative information is not restated in the financial results. The Group has recognized `2,648 crores right-of-use assets net of depreciation during the year.

Goodwill and intangibles

The Group has made addition to goodwill by ` 6,445 crores (previous year ` 2,095 crores) for acquisitions of select IBM Software products and other acquisitions consummated during the year [for details refer note no 2 to consolidated financial statement].

The Group has also made addition to intangibles by ` 9,117 crores (previous year ` 2,357 crores) mainly for customer relationship and Technology recorded on account of acquisition of select IBM Software products during the year [ for details refer note no 2 to consolidated financial statement].

Treasury Investments

The guiding principles of the Group’s treasury investments are safety, liquidity and return. The Group has efficiently managed its surplus funds through careful treasury operations.

The Group deploys its surplus funds in fixed deposits with banks, inter-corporate deposits and investments in mutual funds and debt securities, with a limit on investments with any individual bank/fund.

57 Breakup of treasury investments is given below

(` in Crores)

Current and other non-current Assets

(` in Crores)

Current and other non-current assets, excluding treasury assets increased by ` 5,956 crores (` 27,683 crores in fiscal 2019 to ` 33,639 crores in fiscal 2020); the increase is mainly on account of increase in trade receivables by ` 2,425 crores, Unbilled receivables by ` 1,821 crores, Deferred contract cost by ` 626 crores and increase in other receivables by ` 894 crores.

Shareholder’s Fund a) The Company has an authorized share capital of ` 600 crores, divided into 3,000,000,000 equity shares of ` 2 each. During the year, employees exercised their options for 553,680 equity shares under the employee’s stock option plans 2004. b) Pursuant to the approval of the shareholders through postal ballot (including remote e-voting), the Company has allotted 1,356,832,548 bonus shares of ` 2/- each fully paid-up on 10 December 2019 in the proportion of 1 equity share for every 1 equity share of ` 2/- each held by the equity shareholders of the Company as on the record date of 7 December 2019. Consequently, the Company capitalized a sum of ` 271.4 crore from “retained earnings”. c) The Consolidated Shareholder’s Fund of the Group stood at ` 51,421 crores as at 31 March 2020 (previous year ` 41,469 crores).

Borrowings

(` in Crores)

Borrowing of the Group has increased by ` 897 crores (` 4,195 crores in fiscal 2019 to ` 5,092 crores in fiscal 2020) mainly on account of increase in Bank overdraft by ` 1,055 crores taken to manage working capital requirement.

58 Current and non-current Liabilities

(` in Crores)

Current and non-current liabilities, excluding borrowings, increased by ` 13,482 crores (` 12,911 crores in fiscal 2019 to ` 26,393 crores in fiscal 2020); the increase is mainly on account of (a) increase in Contract liabilities by `1,806 crores, (b) Deferred consideration by `6,843 crores primarily related to acquisition of select IBM Software products and (c) recognition of lease liabilities by ` 2,894 crores on account of adoption of Ind AS 116.

Cash Flows

A summary of the cash flow statement is given below: (` in Crores)

Cash flow from operations

The Group generated net cash from operating activities of ` 13,359 crores in FY 2020 (` 8,971 crores in FY 2019) (` in Crores)

59 Cash flow from investing activities

(` in Crores)

In fiscal 2020 the Group used ` 12,374 crores for investing activities (` 3,073 crores in fiscal 2019). The significant items of investing activities were:

• During the current fiscal, the Group has made payment of ` 6,091 crores (net of cash acquired) as purchase consideration (Previous year ` 2,828 crores), for acquisitions of select IBM Software products and other acquisitions consummated during the year [for details refer note no 2 to consolidated financial statements]. • During the current fiscal year, the group had made purchase of mutual funds, debt securities and equity instrument, net of ` 6,404 crores (previous year sale of investment, net ` 2,502 crores)

Cash flow from financing activities (` in Crores)

In fiscal 2020 the Group used ` 3,168 crores in financing activities (` 1,471 crores in fiscal 2019). The significant items of financing activities are:

• Payment of dividends including taxes of ` 1,625 crores (` 1,321 crores in fiscal 2019). • During the year group has paid ` 295 crores (` 26 crores in fiscal 2019) on account of deferred payments related to various business acquisitions. • Payment of lease liabilities including interest during the year of ` 866 crores.

60 Key financial ratio

Year Ended

Units 31 March 2020 31 March 2019 Profitability Ratios

Operating Profit Margin % 19.7 19.6

Net Profit Margin % 15.7 16.8

Return on Net Worth % 23.9 26.0

Liquidity Ratio

Current Ratio Times 1.6 2.4

Management Efficiency Ratio

Debtors Turnover Ratio Times 5.5 5.7

Inventory Turnover Ratio Times 16.9 12.9

Leverage Ratio

Interest Coverage Ratio - Borrowings Times 106.1 141.2

Debt Equity Ratio Times 0.1 0.1

Return on Net Worth

Return on net worth is computed as profit after tax by average net worth. Return on net worth has reduced from 26.0% in FY 2019 to 23.9% in FY 2020 mainly due to increase in working capital requirements and investments on acquisitions consummated during the year.

Current Ratio

Current ratio is computed as current assets by current liabilities. Current ratio has reduced from 2.4 times in FY 2019 to 1.6 times in FY 2020 mainly due to recognition of deferred consideration on acquisition of select IBM software products.

Inventory Turnover Ratio

Inventory turnover ratio is computed as cost of goods sold by average inventory. Inventory turnover ratio has improved from 12.9 times in FY 2019 to 16.9 times in FY 2020 mainly due to change in average inventory.

Standalone results

Standalone results of HCL excludes the performance of its subsidiaries.

The discussion in the paragraphs which follow should be read in conjunction with the financial statements and related notes relevant to the standalone results of HCL Technologies Limited (herein referred to as “HCL” or “the Company”) for the year ended 31 March 2020 prepared in accordance with the Indian Accounting Standard (referred to as “Ind AS”), prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standard) rules as amended from time to time.

61 Results of Operations (Standalone) (` in Crores)

Comments: • Revenue from operations increased to ` 32,606 crore in FY 2020 as compared to ` 26,102 crore in FY 2019 resulting in a growth of 25.3%. • Profit before tax (PBT) increased to ` 11,177 crore in FY 2020 as compared to ` 9,931 crore in FY 2019 resulting in a growth of 12.5%. • Profit after tax (PAT) increased to ` 8,969 crore in FY 2020 as compared to ` 8,185 crore in FY 2019 resulting in a growth of 9.6%.

Financial Position (Standalone) (` in Crores) Particulars 31 March 2020 31 March 2019 ASSETS (a) Property, plant and equipment 3,541 3,507 (b) Capital work in progress 311 212 (c) Right-of-use assets 1,030 - (d) Goodwill 6,410 550 (e) Other intangible assets 11,640 7,178 (f) Other non-current assets 7,053 7,302 (g) Current assets 23,530 18,707 TOTAL ASSETS 53,515 37,456 EQUITY (a) Equity share capital 543 271 (b) Other equity 36,753 30,168 TOTAL EQUITY 37,296 30,439 LIABILITIES (a) Non - current liabilities 2,278 638 (b) Current liabilities 13,941 6,379 TOTAL EQUITY AND LIABILITIES 53,515 37,456

62 Current and other non-current Assets (` in Crores)

Current and other non – current assets, excluding treasury assets increased by ` 894 crores (` 18,892 crores in fiscal 2019 to ` 19,786 crores in fiscal 2020); the increase is mainly on account of increase in trade receivables by ` 1,259 crores, increase in unbilled receivables by ` 782 crores and increase in other receivables by ` 893 crores partial offset by decrease in balance with banks in current accounts by ` 2,206 crores.

Current and non-current Liabilities (` in Crores)

Current and non-current liabilities, excluding borrowings, increased by ` 9,074 crores (` 6,967 crores in fiscal 2019 to ` 16,041 crores in fiscal 2020); the increase is mainly on account of (a) increase in Contract liabilities by `936 crores, (b) Deferred consideration by ` 6,559 crores primarily related to acquisition of select IBM Software products and (c) recognition of lease liabilities by ` 832 crores on account of adoption of Ind AS 116.

CASH FLOWS

A summary of the cash flow statement is given below: (` in Crores) Year Ended 31 March 2020 31 March 2019 Cash and cash equivalents at the beginning of the year 4,523 210 Net cash generated from operating activities 9,855 8,676 Net cash generated from / (used) in investing activities (11,091) 995 Cash flows used in financing activities (1,988) (5,335) Net increase / (decrease) in cash and cash equivalents (3,224) 4,336 Effect of exchange differences on cash and cash equivalents held in foreign currency (8) (23) Cash and cash equivalents at the end of the year 1,291 4,523

63 Cash flow from operations

The Company generated net cash from operating activities of ` 9,855 crore in FY 2020 (8,676 crore in FY 2019) (` in Crores) Year Ended 31 March 2020 31 March 2019 Operating profit before working capital changes 12,833 10,523 Effect of working capital changes (1,227) 231 Cash generated from operations 11,606 10,754 Tax payments made (1,751) (2,078) Net cash generated from operating activities 9,855 8,676

Cash flow from investing activities (` in Crores) Year Ended 31 March 2020 31 March 2019 Purchase of property, plant and equipment and intangibles, including capital work in progress and (928) (2,312) capital advances, net (Purchase) / sale of mutual funds and debt securities (2,797) 2,583 Redemption / maturity of bank deposits (net) having maturity over three months (1,790) 365 Investment in subsidiaries (399) - Payments for business acquisitions, net of cash acquired (5,340) - Proceeds from loan extended to group company - 21 Interest and dividend income 298 485 Taxes paid (135) (147) Net cash generated from / used in investing activities (11,091) 995

In fiscal 2020 the Company used net cash ` 11,091 crores in investing activities (net cash generated ` 995 crores in fiscal 2019). The significant items of investing activities:

• The Company used ` 928 crores for purchase of property, plant and equipment and intangible assets (` 2,312 crores in fiscal 2019). • Fixed deposits with banks (net) of ` 1,790 crores have been placed during the year. (net realized ` 365 crores in fiscal 2019). • During the current fiscal, the Company has made payment of ` 5,340 crores (net of cash acquired) as purchase consideration (Previous year nil), for acquisitions of select IBM Software products and other acquisitions consummated during the year [for details refer note no 2 to standalone financial statements]. • During the current fiscal year, the Company had made purchase of mutual funds and debt securities, net of ` 2,797 crores (previous year sale of investment, net ` 2,583 crores).

64 Cash flow from financing activities

(` in Crores) Year Ended 31 March 2020 31 March 2019 Buyback of equity shares - (4,000) Expenses on buyback of equity shares - (12) Dividend paid (including taxes) (1,625) (1,321) Proceeds from borrowings (net) 128 2 Interest paid (11) (4) Payments for deferred consideration on business acquisitions (285) - Payment of lease liabilities including interest (195) - Net cash used in financing activities (1,988) (5,335)

In fiscal 2020 the Company used ` 1,998 crores in financing activities (` 5,335 crores in fiscal 2019). The significant items of financing activities are:

• Payment of dividends including taxes ` 1,625 crores (` 1,321 crores in fiscal 2019). • During the year group has paid ` 285 crores on account of deferred payments related to business acquisition.

Key financial ratio

(` in Crores) Year Ended Units 31 March 2020 31 March 2019 Profitability Ratios Operating Profit Margin % 33.3 35.2 Net Profit Margin % 27.6 31.5 Return on Net Worth % 26.5 28.2 Liquidity Ratio Current Ratio Times 1.7 2.9 Management Efficiency Ratio Debtors Turnover Ratio Times 4.7 4.5 Inventory Turnover Ratio Times 9.3 5.7 Leverage Ratio Interest Coverage Ratio - Borrowings Times 932.4 2,222.2 Debt Equity Ratio Times 0.0 0.0

Return on Net Worth

Return on net worth is computed as profit after tax by average net worth. Return on net worth has reduced from 28.2% in FY 2019 to 26.5% in FY 2020 mainly due to increase in working capital requirements and investments on acquisitions consummated during the year.

Current Ratio

Current ratio is computed as current assets by current liabilities. Current ratio has reduced from 2.9 times in FY 2019 to 1.7 times in FY 2020 mainly due to recognition of deferred consideration on acquisition of select IBM software products.

65 Inventory Turnover Ratio

Inventory turnover ratio is computed as cost of goods sold by average inventory. Inventory turnover ratio has improved from 5.7 times in FY 2019 to 9.3 times in FY 2020 mainly due to change in average inventory.

Interest Coverage Ratio

Interest coverage ratio is computed as profit before tax and interest cost by interest cost. Interest coverage ratio has reduced during the year mainly on account of increase in interest cost on fresh term loan taken during the year.

66 DIRECTORS’ REPORT

Dear Shareholders,

Your Directors have immense pleasure in presenting the Twenty-Eighth Annual Report of HCL Technologies Limited (“HCL” or the ³&RPSDQ\´ WRJHWKHUZLWKWKHDXGLWHG¿QDQFLDOVWDWHPHQWVIRUWKH¿QDQFLDO\HDUHQGHG0DUFK

1. FINANCIAL RESULTS

.H\ KLJKOLJKWV RI WKH ¿QDQFLDO UHVXOWV RI \RXU &RPSDQ\ SUHSDUHG DV SHU WKH ,QGLDQ $FFRXQWLQJ 6WDQGDUGV ,QG $6 IRU WKH ¿QDQFLDO\HDUHQGHG0DUFKDUHDVXQGHU (৷LQFURUH

&RQVROLGDWHG 6WDQGDORQH

3DUWLFXODUV

0DUFK 0DUFK 0DUFK 0DUFK

Revenue from operations

Other income 589 587

7RWDO,QFRPH

7RWDO([SHQGLWXUH

3UR¿WEHIRUHWD[

Tax Expense

3UR¿WIRUWKH\HDU

Other comprehensive income / (loss)

7RWDOFRPSUHKHQVLYHLQFRPH ORVV IRUWKH\HDU

(DUQLQJVSHUVKDUHRI൘HDFK

%DVLF LQ൘

'LOXWHG LQ൘ * 7KHHDUQLQJVSHUVKDUHKDYHEHHQDGMXVWHGIRUERQXVLVVXHIRUWKHSUHYLRXV¿QDQFLDO\HDUHQGHG0DUFK

%86,1(6629(59,(:$1'67$7(2)$))$,56

The Company empowers global enterprises with technology for holistic services in various industry verticals, categorized WKHQH[WGHFDGHWRGD\7KH&RPSDQ\¶V0RGHVWUDWHJ\ XQGHU )LQDQFLDO 6HUYLFHV 0DQXIDFWXULQJ 7HFKQRORJ\ WKURXJK LWV GHHSGRPDLQ LQGXVWU\ H[SHUWLVH FXVWRPHU 6HUYLFHV7HOHFRP 0HGLD5HWDLO &3*/LIH6FLHQFHV centricity and entrepreneurial culture of Ideapreneurship™ +HDOWKFDUHDQG3XEOLF6HUYLFHV HQDEOHVEXVLQHVVHVWRWUDQVIRUPLQWRQH[WJHQHQWHUSULVHV 2QDFRQVROLGDWHGEDVLVWKH&RPSDQ\¶VUHYHQXHIURPRSHUDWLRQV The Company offers its services and products through three ZDV൘FURUHLQWKHFXUUHQW\HDUDVDJDLQVW൘FURUH EXVLQHVVXQLWV,7DQG%XVLQHVV6HUYLFHV ,7%6 (QJLQHHULQJ LQWKHSUHYLRXV\HDUPDUNLQJDQLQFUHDVHRI7KHSUR¿W DQG 5 ' 6HUYLFHV (56 DQG 3URGXFWV 3ODWIRUPV 3 3 IRUWKH\HDUZDV൘FURUHLQWKHFXUUHQW\HDUDVDJDLQVW ,7%6HQDEOHVJOREDOHQWHUSULVHVWRWUDQVIRUPWKHLUEXVLQHVVHV ൘FURUHLQWKHSUHYLRXV\HDUPDUNLQJDQLQFUHDVHRI through offerings in the areas of Applications, Infrastructure, Digital Process Operations and next generational Digital 2QDVWDQGDORQHEDVLVWKH&RPSDQ\¶VUHYHQXHIURPRSHUDWLRQV 7UDQVIRUPDWLRQ 6ROXWLRQV (56 RIIHUV HQJLQHHULQJ VHUYLFHV ZDV൘FURUHLQWKHFXUUHQW\HDUDVDJDLQVW൘FURUH and solutions in all aspects of product development and LQWKHSUHYLRXV\HDUPDUNLQJDQLQFUHDVHRI7KHSUR¿W SODWIRUP HQJLQHHULQJ 8QGHU 3 3 WKH &RPSDQ\ SURYLGHV IRUWKH\HDUZDV൘FURUHLQWKHFXUUHQW\HDUDVDJDLQVW modernized software products to global clients for their ൘FURUHLQWKHSUHYLRXV\HDUPDUNLQJDQLQFUHDVHRI WHFKQRORJ\DQGLQGXVWU\VSHFL¿FUHTXLUHPHQWV The state of affairs of the Company is presented as part of the 7KURXJK LWV FXWWLQJHGJH FRLQQRYDWLRQ ODEV JOREDO GHOLYHU\ 0DQDJHPHQW'LVFXVVLRQDQG$QDO\VLV5HSRUWIRUPLQJSDUWRI capabilities and broad global network, the Company delivers WKH$QQXDO5HSRUW

67 Directors’ Report ',9,'(1'

'XULQJWKH¿QDQFLDO\HDUHQGHG0DUFK\RXU'LUHFWRUVKDGGHFODUHGDQGSDLGIRXULQWHULPGLYLGHQGVDVSHUWKHGHWDLOV given below:

'LYLGHQG 5DWHRIGLYLGHQG ,QWHULPGLYLGHQGSDLGGXULQJ $PRXQWRI 'LVWULEXWLRQ 7RWDO2XWÀRZ Date of per share S. No. ¿QDQFLDO\HDUHQGHG0DUFK 'LYLGHQGSDLG WD[SDLGE\WKH 'HFODUDWLRQ IDFHYDOXHRI൘ &RPSDQ\ HDFK ৷LQFURUH st Interim Dividend 0D\ nd Interim Dividend $XJXVW rd Interim Dividend 2FWREHU th Interim Dividend -DQXDU\ Total 1RWH7KH&RPSDQ\RQ'HFHPEHUDOORWWHGHTXLW\VKDUHVDVERQXVVKDUHVRI৷HDFKIXOO\SDLGXSLQWKHSURSRUWLRQRIHTXLW\VKDUHIRU HYHU\HTXLW\VKDUHRI৷HDFKKHOGE\WKHHTXLW\VKDUHKROGHUVRIWKH&RPSDQ\&RQVHTXHQWWRWKHVDLGERQXVLVVXHWKHQXPEHURIHTXLW\VKDUHVRIWKH&RPSDQ\ LQFUHDVHGWRHTXLW\VKDUHVRI৷HDFK

)XUWKHUWKH%RDUGRI'LUHFWRUVLQLWVPHHWLQJKHOGRQ0D\ 7. ACQUISITIONS UHFRPPHQGHGD¿QDOGLYLGHQGRI൘SHUHTXLW\VKDUHRI IDFHYDOXHRI൘HDFKIXOO\SDLGXSIRUWKH¿QDQFLDO\HDU $FTXLVLWLRQVFRQVXPPDWHGGXULQJWKH¿QDQFLDO\HDU VXEMHFWWRWKHDSSURYDORIWKHVKDUHKROGHUVLQWKHHQVXLQJ are summarized as below – $QQXDO*HQHUDO0HHWLQJRIWKH&RPSDQ\ 6WURQJ%ULGJH+ROGLQJV,QF 75$16)(572*(1(5$/5(6(59(6 7KH &RPSDQ\ WKURXJK LWV VWHSGRZQ ZKROO\RZQHG VXEVLGLDU\ 1RDPRXQWZDVWUDQVIHUUHGWRWKH*HQHUDO5HVHUYHVIRUWKH +&/$PHULFD,QFDFTXLUHG6WURQJ%ULGJH+ROGLQJV,QF GRLQJ ¿QDQFLDO\HDUHQGHG0DUFK EXVLQHVV DV 6WURQJ%ULGJH (QYLVLRQ RU 6%( D 'HODZDUH FRPSDQ\ 6%( LV D SURYLGHU RI GLJLWDO WUDQVIRUPDWLRQ VWUDWHJ\ SHARE CAPITAL consulting, digital / agile program management and organizational FKDQJHPDQDJHPHQW3XUVXDQWWRWKLVDFTXLVLWLRQ6WURQJ%ULGJH 'XULQJWKH¿QDQFLDO\HDUXQGHUUHYLHZWKH&RPSDQ\LVVXHG +ROGLQJV ,QF DQG LWV VXEVLGLDULHV KDYH EHFRPH WKH ZKROO\ DQGDOORWWHGIXOO\SDLGXSHTXLW\VKDUHVRI൘HDFK RZQHGVWHSGRZQVXEVLGLDULHVRIWKH&RPSDQ\ZLWKHIIHFWIURP XQGHULWV(PSOR\HHV6WRFN2SWLRQ3ODQ $SULOEHLQJWKHGDWHRIFRPSOHWLRQRIDFTXLVLWLRQ

Issue of Bonus Equity Shares ,%06RIWZDUH3URGXFWV

Pursuant to the approval of the shareholders on November 7KH &RPSDQ\ HQWHUHG LQWR D GH¿QLWLYH DJUHHPHQW ZLWK ,%0 WKURXJKSRVWDOEDOORW LQFOXGLQJUHPRWHHYRWLQJ WKH &RUSRUDWLRQ 86$ IRU WKH DVVHW SXUFKDVH RI ,%0¶V VHYHQ &RPSDQ\ KDV DOORWWHG ERQXV VKDUHV RI ൘ VRIWZDUHSURGXFWVIRUDQDJJUHJDWHDPRXQWRI86'ELOOLRQ HDFKIXOO\SDLGXSRQ'HFHPEHULQWKHSURSRUWLRQRI DFURVV WKUHH SRUWIROLRV 6HFXULW\ ± $SS6FDQ DQG %LJ)L[ HTXLW\VKDUHIRUHYHU\HTXLW\VKDUHRI൘HDFKKHOGE\WKH 0DUNHWLQJ±&RPPHUFH6RIWZDUH8QLFDDQG';6RIWZDUHDQG HTXLW\VKDUHKROGHUVRIWKH&RPSDQ\DVRQWKHUHFRUGGDWHRI &ROODERUDWLRQ 6ROXWLRQV ± 1RWHV'RPLQR DQG &RQQHFWLRQV 'HFHPEHU 7KHWUDQVDFWLRQZDVFRPSOHWHGRQ-XQH

&RQVHTXHQWO\WKHLVVXHGVXEVFULEHGDQGSDLGXSVKDUHFDSLWDORI 6DQNDOS6HPLFRQGXFWRU3ULYDWH/LPLWHG WKH&RPSDQ\DVRQ0DUFKZDV൘GLYLGHG LQWRHTXLW\VKDUHVRIIDFHYDOXHRI൘HDFK 7KH &RPSDQ\ DFTXLUHG 6DQNDOS 6HPLFRQGXFWRU 3ULYDWH /LPLWHG ³6DQNDOS´ DFRPSDQ\LQFRUSRUDWHGLQ,QGLD6DQNDOS ,QFUHDVHLQWKH$XWKRULVHG6KDUH&DSLWDO is an advanced technology design services provider offering FRPSUHKHQVLYHGLJLWDO PL[HGVLJQDO6R& 6\VWHPRQ&KLS 7KH LVVXH RI ERQXV VKDUHV UHTXLUHG DQ LQFUHDVH LQ WKH services and solutions from concept to prototype, in the $XWKRULVHG 6KDUH &DSLWDO RI WKH &RPSDQ\ $FFRUGLQJO\ VHPLFRQGXFWRU VSDFH 3XUVXDQW WR WKLV DFTXLVLWLRQ 6DQNDOS pursuant to the approval of the members of the Company vide Semiconductor Private Limited and all its subsidiaries have UHVROXWLRQ GDWHG 1RYHPEHU SDVVHG WKURXJK SRVWDO EHFRPH WKH VWHSGRZQ VXEVLGLDULHV RI WKH &RPSDQ\ ZLWK EDOORW UHPRWH HYRWLQJ WKH$XWKRUL]HG 6KDUH &DSLWDO RI WKH HIIHFWIURP2FWREHUEHLQJWKHGDWHRIFRPSOHWLRQRI &RPSDQ\ ZDV LQFUHDVHG IURP ൘ GLYLGHG LQWR WKHDFTXLVLWLRQ HTXLW\VKDUHVRI൘HDFKWR൘ GLYLGHGLQWRHTXLW\VKDUHVRI൘HDFK 68%6,',$5,(6$662&,$7(6$1'-2,179(1785(6

0$1$*(0(17',6&866,21$1'$1$/<6,6 $VRQ0DUFKWKH&RPSDQ\KDVVXEVLGLDULHVDQG DVVRFLDWHFRPSDQLHVZLWKLQWKHPHDQLQJRI6HFWLRQV 7KH 0DQDJHPHQW 'LVFXVVLRQ DQG$QDO\VLV 5HSRUW LQ WHUPV DQG RI WKH &RPSDQLHV $FW ³$FW´ UHVSHFWLYHO\ RI 5HJXODWLRQ RI WKH 6(%, /LVWLQJ 2EOLJDWLRQV DQG During the year under review, there has been no material 'LVFORVXUH 5HTXLUHPHQWV 5HJXODWLRQV WKH ³/LVWLQJ FKDQJHLQWKHQDWXUHRIEXVLQHVVRIWKHVXEVLGLDULHV Regulations”), is attached and forms a part of the Annual 5HSRUW $VSHUWKHSURYLVLRQVRI6HFWLRQ RIWKH$FWDVWDWHPHQW

Annual Report 2019-20 68 FRQWDLQLQJWKHVDOLHQWIHDWXUHVRIWKH¿QDQFLDOVWDWHPHQWVRI ³'HOKL2UGHU´ VDQFWLRQHGWKH6FKHPHDQGWKHFHUWL¿HGFRS\ WKH&RPSDQ\¶VVXEVLGLDULHVDVVRFLDWHVDQGMRLQWYHQWXUHVLQ RIWKH'HOKL2UGHUZDV¿OHGZLWKWKH5HJLVWUDURI&RPSDQLHV )RUP$2&IRUPVSDUWRIWKLV$QQXDO5HSRUW RQ0DUFK7KH1&/7%HQJDOXUXLV\HWWRSDVVWKH QHFHVVDU\RUGHUIRUWKHDERYHVDLG6FKHPH7KH6FKHPHZLOO ,QDFFRUGDQFHZLWKWKHSURYLVLRQVRI6HFWLRQRIWKH$FWDQG EHHIIHFWLYHIURPWKHGDWHRQZKLFKWKHFHUWL¿HGFRS\RIWKH 5HJXODWLRQRIWKH/LVWLQJ5HJXODWLRQVWKHVWDQGDORQHDQG %HQJDOXUX2UGHULV¿OHGZLWKWKH5HJLVWUDURI&RPSDQLHV FRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\DORQJZLWK UHOHYDQWGRFXPHQWVDQGWKH¿QDQFLDOVWDWHPHQWVLQUHVSHFWRIWKH 7KH$SSRLQWHGGDWHRIWKH6FKHPHLV$SULO VXEVLGLDULHVIRUWKH¿QDQFLDO\HDUHQGHG0DUFKZRXOG EH DYDLODEOH RQ WKH ZHEVLWH RI WKH &RPSDQ\ 7KH &RPSDQ\ 0HUJHURIVXEVLGLDULHVLQFRUSRUDWHGRXWVLGH,QGLD ZRXOGSURYLGHWKH¿QDQFLDOVWDWHPHQWVRIWKHVXEVLGLDULHVDQG WKHUHODWHGGHWDLOHGLQIRUPDWLRQWRWKHVKDUHKROGHUVRQVSHFL¿F 6WURQJ%ULGJH +ROGLQJV ,QF KDYLQJ LWV UHJLVWHUHG UHTXHVWPDGHLQWKLVUHJDUGE\WKHVKDUHKROGHUV RI¿FH LQ 'HODZDUH 86$ 6WURQJ%ULGJH //& KDYLQJ LWV UHJLVWHUHG RI¿FH LQ :DVKLQJWRQ 86$ DQG (QYLVLRQ 1RWH7KHZRUG³VXEVLGLDULHV´XVHGLQWKLV$QQXDO5HSRUWLQFOXGHVERWKGLUHFW %XVLQHVV &RQVXOWLQJ //& KDYLQJ LWV UHJLVWHUHG RI¿FH LQ DQGVWHSGRZQVXEVLGLDULHV &RORUDGR86$ ZKROO\RZQHGVWHSGRZQVXEVLGLDULHVRI WKH&RPSDQ\ZHUHPHUJHGZLWKDQGLQWR+&/$PHULFD,QF 6XEVLGLDULHVLQFRUSRUDWHGGXULQJWKH\HDU± KDYLQJ LWV UHJLVWHUHG RI¿FH LQ &DOLIRUQLD 86$ DQRWKHU ZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ +&/ 7HFKQRORJLHV %XOJDULD (22' D SULYDWH OLPLWHG FRPSDQ\ZDVLQFRUSRUDWHGXQGHUWKHODZVRI%XOJDULDDV 3RHW +ROGLQJV ,QF KDYLQJ LWV UHJLVWHUHG RI¿FH LQ DZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ 'HODZDUH86$ DVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ ZDVPHUJHGZLWKDQGLQWR9HUVDQW6RIWZDUH//& KDYLQJ +&/ 7HFKQRORJLHV $]HUEDLMDQ //& D SULYDWH OLPLWHG LWV UHJLVWHUHG RI¿FH LQ 'HODZDUH 86$ DQRWKHU VWHS FRPSDQ\ZDVLQFRUSRUDWHGXQGHUWKHODZVRI$]HUEDLMDQ GRZQVXEVLGLDU\RIWKH&RPSDQ\ DVDZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ 3DU$FFHO //& KDYLQJ LWV UHJLVWHUHG RI¿FH LQ &DOLIRUQLD +&/7HFKQRORJLHV 9LHWQDP &RPSDQ\/LPLWHGDSULYDWH 86$ D VWHSGRZQ VXEVLGLDU\ RI WKH &RPSDQ\ ZDV limited company, was incorporated under the laws of merged with and into Actian Corporation (having its 9LHWQDPDVDZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH UHJLVWHUHGRI¿FHLQ'HODZDUH86$ DQRWKHUVWHSGRZQ &RPSDQ\ VXEVLGLDU\RIWKH&RPSDQ\

+ & / 7HFKQRORJLHV /DQND 3ULYDWH /LPLWHG D SULYDWH +&/ ,WDO\ 65/ KDYLQJ LWV UHJLVWHUHG RI¿FH LQ ,WDO\ D limited company, was incorporated under the laws of Sri ZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ZDV /DQNDDVDZKROO\RZQHGVXEVLGLDU\RIWKH&RPSDQ\ merged with and into HCL Technologies Italy SPA (having LWVUHJLVWHUHGRI¿FHLQ,WDO\ DQRWKHUZKROO\RZQHGVWHS +&/7HFKQRORJLHV7ULQLGDGDQG7REDJR/LPLWHGDSULYDWH GRZQVXEVLGLDU\RIWKH&RPSDQ\ limited company, was incorporated under the laws of 7ULQLGDG DQG 7REDJR DV D ZKROO\RZQHG VWHSGRZQ &HOHULWL)LQ7HFK *HUPDQ\ *PE+ KDYLQJ LWV UHJLVWHUHG VXEVLGLDU\RIWKH&RPSDQ\ RI¿FH LQ *HUPDQ\ D VWHSGRZQ VXEVLGLDU\ RI WKH Company, was merged with and into HCL Technologies 6XEVLGLDULHVFORVHGGXULQJWKH\HDU± *HUPDQ\*PE+ KDYLQJLWVUHJLVWHUHGRI¿FHLQ*HUPDQ\ DZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ $FWLDQ1HWKHUODQGV+ROGLQJ%9DVWHSGRZQVXEVLGLDU\RI WKH&RPSDQ\KDYLQJLWVUHJLVWHUHGRI¿FHLQ1HWKHUODQGV 2WKHUUHVWUXFWXULQJVGXULQJWKH\HDU± was not in operations and was therefore voluntarily GLVVROYHGGXULQJWKH\HDU 7KH *RYHUQPHQW RI 6RXWK $IULFD KDV LVVXHG D %URDG %DVHG%ODFN(FRQRPLF(PSRZHUPHQW ³%%%((´ SROLF\ 0HUJHURI6XEVLGLDULHVGXULQJWKH\HDU± IRU WKH XSOLIWPHQW RI %ODFN QDWLRQDOV DQG IRU HQKDQFLQJ WKHLUHFRQRPLFSDUWLFLSDWLRQ3XUVXDQWWRWKHVDLG3ROLF\ 0HUJHURIVXEVLGLDULHVLQFRUSRUDWHGLQ,QGLD 6RXWK $IULFDQ FRPSDQLHV KDYLQJ DW OHDVW EODFN RZQHUVKLS DUH HOLJLEOH WRDWWDLQ WKH/HYHO %(( %ODFN 7KH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\RQ0D\KDG Economic Empowerment) rating, which provides higher approved the scheme of amalgamation (“Scheme”) providing for UHFRJQLWLRQDQGHOLJLELOLW\WRSDUWLFLSDWHLQ5)3VÀRDWHGE\ WKHDPDOJDPDWLRQRIIRXURILWVGLUHFWVWHSGRZQZKROO\RZQHG 6RXWK$IULFDQFOLHQWV'XULQJWKH\HDUXQGHUUHYLHZ+&/ VXEVLGLDULHVQDPHO\+&/(DJOH/LPLWHG+&/&RPQHW/LPLWHG 7HFKQRORJLHV 3W\ /LPLWHG D ZKROO\RZQHG VWHSGRZQ +&/ 7HFKQRORJLHV 6ROXWLRQV /LPLWHG DQG &RQFHSW6LOLFRQ subsidiary of the Company in South Africa has attained Systems Private Limited (“Transferor Companies”) with and WKHVDLG/HYHO%((UDWLQJ LQWRWKH&RPSDQ\ ³7UDQVIHUHH&RPSDQ\´ 7KH6FKHPHZDV WKHQ DSSURYHG E\ WKH UHVSHFWLYH %RDUG RI 'LUHFWRUV RI WKH ',5(&7256$1'.(<0$1$*(5,$/3(56211(/ 7UDQVIHURU &RPSDQLHV RQ 0D\ 7KH 6FKHPH ZDV VXEMHFWWRWKHDSSURYDORIWKH+RQ¶EOH1DWLRQDO&RPSDQ\/DZ 7KHFRPSRVLWLRQRIWKH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\LV Tribunal, New Delhi (“NCLT New Delhi”) (HCL Technologies LQ DFFRUGDQFH ZLWK WKH SURYLVLRQV RI 6HFWLRQ RI WKH$FW Limited, HCL Eagle Limited and HCL Comnet Limited DQG5HJXODWLRQRIWKH/LVWLQJ5HJXODWLRQVZLWKDQRSWLPXP KDYLQJ UHJLVWHUHG RI¿FH LQ 'HOKL DQG WKH +RQ¶EOH 1DWLRQDO FRPELQDWLRQ RI ([HFXWLYH 1RQ([HFXWLYH DQG ,QGHSHQGHQW &RPSDQ\/DZ7ULEXQDO%HQJDOXUX ³1&/7%HQJDOXUX´ +&/ 'LUHFWRUV 7HFKQRORJLHV6ROXWLRQV/LPLWHGDQG&RQFHSW6LOLFRQ6\VWHPV 3ULYDWH/LPLWHGKDYLQJUHJLVWHUHGRI¿FHLQ%HQJDOXUX %RDUGRI'LUHFWRUV

7KH 1&/7 1HZ 'HOKL YLGH LWV 2UGHU GDWHG 'HFHPEHU $VRQWKHGDWHRIWKLV5HSRUWWKH%RDUGRI'LUHFWRUVRIWKH DORQJZLWKLWV0RGL¿FDWLRQ2UGHUGDWHG-DQXDU\ Company consists of twelve members, of which three are 69 Directors’ Report ZRPHQ GLUHFWRUV 7KH %RDUG FRQVLVWV RI RQH 0DQDJLQJ &HVVDWLRQ V 'LUHFWRU DQG HOHYHQ 1RQ([HFXWLYH 'LUHFWRUV RI ZKLFK QLQH DUH ,QGHSHQGHQW 'LUHFWRUV 7KH 0DQDJLQJ 'LUHFWRU LV WKH 0U6XGKLQGDU.ULVKDQ.KDQQD ',1 D1RQ Promoter Director who is designated as the Chairman & Chief ([HFXWLYH 1RQ,QGHSHQGHQW 'LUHFWRU RI WKH &RPSDQ\ 6WUDWHJ\2I¿FHURIWKH&RPSDQ\ UHVLJQHGIURPWKH%RDUGRIWKH&RPSDQ\ZHI$SULO GXHWRKHDOWKUHDVRQV $SSRLQWPHQW V 5HDSSRLQWPHQW V 0U -DPHV 3KLOLS $GDPF]\N ',1 D 1RQ 7KH %RDUG RI 'LUHFWRUV RI \RXU &RPSDQ\ DSSRLQWHG UH Executive Independent Director of the Company, ceased DSSRLQWHGWKHIROORZLQJ'LUHFWRUVGXULQJWKH¿QDQFLDO\HDU WREHWKH'LUHFWRURIWKH&RPSDQ\ZHI2FWREHU GXHWRKLVGHPLVH $SSRLQWPHQWV 7KH %RDUG SODFHG RQ UHFRUG LWV VLQFHUH DSSUHFLDWLRQ DQG 'U 0RKDQ &KHOODSSD ',1 ZDV DSSRLQWHG gratitude for the valuable services, guidance and contribution DV DQ $GGLWLRQDO 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ RI 0U 6XGKLQGDU .ULVKDQ .KDQQD DQG 0U -DPHV 3KLOLS ([HFXWLYH ,QGHSHQGHQW 'LUHFWRU ZHI $XJXVW Adamczyk to the Company during their tenure as a member of DQGKDVEHHQUHFRPPHQGHGIRUDSSRLQWPHQWDVD1RQ WKH%RDUGLWV&RPPLWWHHV ([HFXWLYH ,QGHSHQGHQW 'LUHFWRU LQ WKH HQVXLQJ $*0 RI WKH&RPSDQ\WREHKHOGLQWKH\HDUIRUDSHULRGRI 5HWLUHPHQWE\5RWDWLRQ ¿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¿YHPHHWLQJVRIWKH%RDUGRI'LUHFWRUVZHUH KHOG7KHGHWDLOVRIWKHPHHWLQJVDUHSURYLGHGLQWKH&RUSRUDWH 0U 6LPRQ -RKQ (QJODQG ',1 ZDV *RYHUQDQFH5HSRUWZKLFKIRUPVSDUWRIWKLV$QQXDO5HSRUW appointed as an Additional Director in the capacity of 1RQ([HFXWLYH ,QGHSHQGHQW 'LUHFWRU ZHI -DQXDU\ %2$5'&200,77((6 DQGKDVEHHQUHFRPPHQGHGIRUDSSRLQWPHQWDVD 1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRULQWKHHQVXLQJ$*0 $V RQ 0DUFK WKH &RPSDQ\ KDG WKH IROORZLQJ RIWKH&RPSDQ\WREHKHOGLQWKH\HDUIRUDSHULRG %RDUG&RPPLWWHHV RI¿YHFRQVHFXWLYH\HDUV $XGLW&RPPLWWHH 5HDSSRLQWPHQWV &RUSRUDWH6RFLDO5HVSRQVLELOLW\&RPPLWWHH 1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHH 0U 5 6ULQLYDVDQ 0V 5RELQ $QQ $EUDPV 'U 6RVDOH )LQDQFH&RPPLWWHH 6KDQNDUD6DVWU\DQG0U60DGKDYDQZHUHUHDSSRLQWHG 6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHH as Independent Directors of the Company by way of 5LVN0DQDJHPHQW&RPPLWWHH VSHFLDOUHVROXWLRQIRUDVHFRQGWHUPRI¿YHFRQVHFXWLYH 'LYHUVLW\&RPPLWWHH \HDUVDWWKH7ZHQW\6HYHQWK$*0RIWKH&RPSDQ\KHOG RQ$XJXVW 7KHFRPSRVLWLRQRI&RPPLWWHHVDVRQ0DUFKZDV as under: 0U 7KRPDV 6LHEHU ZDV DSSRLQWHG DV DQ ,QGHSHQGHQW S. &RPPLWWHH 'LUHFWRURIWKH&RPSDQ\DWWKH7ZHQW\7KLUG$*0RIWKH &RPSRVLWLRQ &RPSDQ\KHOGRQ'HFHPEHUIRUDSHULRGRI¿YH No. 0HHWLQJV FRQVHFXWLYH\HDUV+LV¿UVWWHUPRIDSSRLQWPHQWVKDOOHQG 0U60DGKDYDQ &KDLUPDQ 0U'HHSDN.DSRRU DW WKH FRQFOXVLRQ RI WKH HQVXLQJ$*0 RI WKH &RPSDQ\ Audit Committee WR EH KHOG LQ WKH \HDU &RQVLGHULQJ KLV LPPHQVH 0V1LVKL9DVXGHYD contributions towards the Company and pursuant to the 0V5RELQ$QQ$EUDPV 0V5RVKQL1DGDU0DOKRWUD recommendations of the Nomination and Remuneration Corporate Social (Chairperson) &RPPLWWHHWKH%RDUGLQLWVPHHWLQJKHOGRQ0D\ Responsibility 0U6KLY1DGDU recommended to the shareholders of the Company, the Committee UHDSSRLQWPHQWRI0U7KRPDV6LHEHUDVDQ,QGHSHQGHQW 0U60DGKDYDQ 0U56ULQLYDVDQ &KDLUPDQ 'LUHFWRUIRUDVHFRQGWHUPRI¿YHFRQVHFXWLYH\HDUV Nomination and 0U6KLY1DGDU Remuneration 0V5RELQ$QQ$EUDPV 7KH ,QGHSHQGHQW 'LUHFWRUV KDYH IXUQLVKHG WKH FHUWL¿FDWH Committee of independence stating that they meet the criteria of 0V5RVKQL1DGDU0DOKRWUD LQGHSHQGHQFHDVPHQWLRQHGXQGHU6HFWLRQ RIWKH$FW 0U60DGKDYDQ &KDLUPDQ 0U6KLY1DGDU DQG5HJXODWLRQ E RIWKH/LVWLQJ5HJXODWLRQV%DVHGRQ Finance 0V5RVKQL1DGDU0DOKRWUD the disclosures received from all Independent Directors and Committee DOVRLQWKHRSLQLRQRIWKH%RDUGRI'LUHFWRUVWKH,QGHSHQGHQW 0U56ULQLYDVDQ 'LUHFWRUVIXO¿OOWKHFRQGLWLRQVDVVSHFL¿HGLQWKH$FWDQGWKH 0U7KRPDV6LHEHU /LVWLQJ5HJXODWLRQVDQGDUHLQGHSHQGHQWRIWKH0DQDJHPHQW 6WDNHKROGHUV¶ 0U60DGKDYDQ &KDLUPDQ 5 Relationship 0U6KLY1DGDU Committee 0V5RVKQL1DGDU0DOKRWUD

Annual Report 2019-20 70 S. Committee Composition 15. SECRETARIAL AUDITORS AND SECRETARIAL AUDIT No. Meetings REPORT Mr. S. Madhavan (Chairman) Risk Management Mr. Deepak Kapoor In terms of Section 204 of the Act, M/s. Chandrasekaran 6 Committee Ms. Nishi Vasudeva Associates, Practicing Company Secretaries were appointed Ms. Robin Ann Abrams as the Secretarial Auditors of the Company for the financial Ms. Robin Ann Abrams (Chairperson) year ended March 31, 2020. The report of the Secretarial Diversity 7 Ms. Roshni Nadar Malhotra Auditors is enclosed as Annexure 1 to this Report. The report Committee Mr. Shiv Nadar is self-explanatory and does not call for any further comments. There are no qualifications, reservations, adverse remarks or Note: The following changes have taken place in the composition of the disclaimer made by the Secretarial Auditors in their report for Board Committees after March 31, 2020 till the date of this Report - the financial year ended March 31, 2020. 1. Mr. Shikhar Neelkamal Malhotra was co-opted as a member of the Nomination and Remuneration Committee and Mr. Shiv Nadar ceased 16. MAINTENANCE OF COST RECORDS to be a member of the Nomination and Remuneration Committee w.e.f. May 6, 2020. The Central Government has not prescribed the maintenance 2. Mr. Shikhar Neelkamal Malhotra was co-opted as a member of the of cost records under sub-section (1) of section 148 of the Finance Committee w.e.f. May 6, 2020. Act, and accordingly, such cost accounts and records are not maintained by the Company. In addition to the above, during the year under review, the Company also had in place, an Employees’ Stock Options 17. EXTRACT OF ANNUAL RETURN Allotment Committee, to allot shares to the employees who had exercised their stock options under the Stock Option Plans of the Pursuant to Section 134(3)(a) and Section 92(3) of the Act, the Company. However, since the last of the Stock Option Plans of extract of the Annual Return in Form MGT-9, for the financial year the Company (“2004 Stock Option Plan”) terminated in December ended March 31, 2020, is enclosed as Annexure 2 to this Report. 2019, the said committee is redundant as on the close of the year. 18. POLICY ON DIRECTORS’ APPOINTMENT AND The number of meetings held and other requisite details of the REMUNERATION Board Committees are set out in the Corporate Governance Report which forms part of this Annual Report. The Nomination and Remuneration Committee of the Company formulates the criteria for determining the qualifications, 12. FAMILIARIZATION PROGRAMME positive attributes and independence of Directors in terms of its charter. In evaluating the suitability of individual Board member, The details of the familiarization programme have been the Committee takes into account factors such as educational provided under the Corporate Governance Report which and professional background, general understanding of forms part of this Annual Report. the Company’s business dynamics, professional standing, personal and professional ethics, integrity and values, 13. BOARD EVALUATION willingness to devote sufficient time and energy in carrying out their duties and responsibilities effectively. The Annual Performance Evaluation of the Board, its Committees, the Chairman of the Board and the individual The Committee also assesses the independence of Directors Directors was undertaken by the Board of Directors / at the time of their appointment / re-appointment as per the Independent Directors in terms of the provisions of the Act and criteria prescribed under the provisions of the Act and the the Listing Regulations. The evaluation was carried out in terms rules made thereunder and the Listing Regulations. of the framework and criteria of evaluation as approved by the Nomination and Remuneration Committee of the Company. The The Remuneration Policy for Directors, Key Managerial process and criteria of evaluation is explained in the Corporate Personnel and other employees is provided in the Corporate Governance Report, which forms part of this Annual Report. Governance Report forming part of this Report.

14. STATUTORY AUDITORS AND STATUTORY AUDITORS’ 19. RISK MANAGEMENT POLICY REPORT The Board of Directors of the Company have formed a Risk M/s. B S R & Co. LLP, Chartered Accountants (ICAI Firm Management Committee to inter-alia assist the Board in Registration No. 101248W/W-100022), were appointed as overseeing the responsibilities with regard to identification, the Statutory Auditors of your Company in the Annual General evaluation and mitigation of operational, strategic and external Meeting held on August 6, 2019 for a term of five consecutive environmental risks. In addition, the Audit Committee is also years from the conclusion of the Twenty-Seventh AGM of the empowered to oversee the areas of risks and controls. Company held for the year 2019 on August 6, 2019 till the conclusion of the Thirty-Second AGM to be held in the year The Company has developed and implemented a Risk 2024.The Statutory Auditors have confirmed that they are not Management Policy that ensures appropriate management of disqualified to serve as the auditors of the Company. risks in line with its internal systems and culture.

Statutory Auditors’ Report 20. INTERNAL FINANCIAL CONTROL SYSTEMS AND THEIR ADEQUACY There are no qualifications, reservations, adverse remarks or disclaimer made by M/s. B S R & Co. LLP, Statutory Auditors The Company’s internal financial control systems are in their report for the financial year ended March 31, 2020. commensurate with its size and nature of its operations The Statutory Auditors have not reported any incident of fraud and such internal financial controls are adequate and are to the Audit Committee of the Company for the financial year operating effectively. The Company has adopted policies under review. and procedures for ensuring orderly and efficient conduct of

71 Directors’ Report WKHEXVLQHVV7KHVHFRQWUROVKDYHEHHQGHVLJQHGWRSURYLGH 7UDQVIHU DQG 5HIXQG 5XOHV ³WKH ,(3) 5XOHV´ WKH reasonable assurance with regard to recording and providing shares in respect of which dividends have not been paid or UHOLDEOH¿QDQFLDODQGRSHUDWLRQDOLQIRUPDWLRQDGKHUHQFHWRWKH claimed by the shareholders for seven consecutive years &RPSDQ\¶VSROLFLHVVDIHJXDUGLQJRIDVVHWVIURPXQDXWKRUL]HG RU PRUH DUH DOVR UHTXLUHG WR EH WUDQVIHUUHG WR WKH GHPDW use and prevention and detection of frauds and errors, the DFFRXQW FUHDWHG E\ WKH ,(3) $XWKRULW\ $FFRUGLQJO\ GXULQJ accuracy and completeness of the accounting records, and WKH \HDU WKH &RPSDQ\ KDV WUDQVIHUUHG HTXLW\ VKDUHV WKHWLPHO\SUHSDUDWLRQRIUHOLDEOH¿QDQFLDOGLVFORVXUHV WR WKH GHPDW DFFRXQW RI WKH ,(3)$XWKRULW\,Q DGGLWLRQ WKH &RPSDQ\ DOVR WUDQVIHUUHG WKH ERQXV HTXLW\ VKDUHV WR WKH 6,*1,),&$17$1'0$7(5,$/25'(56 IEPF in respect of the shares that were already transferred to WKH,(3)WLOOWKHGDWHRIWKHLVVXHRIERQXVVKDUHV7KHGHWDLOV 7KHUH DUH QR VLJQL¿FDQW DQG PDWHULDO RUGHUV SDVVHG E\ WKH of such shares are available on the website of the Company at regulators or courts or tribunals impacting the going concern KWWSVZZZKFOWHFKFRPLQYHVWRUVLHSIGHWDLOV VWDWXVDQG&RPSDQ\¶VRSHUDWLRQVLQIXWXUH '(326,76 3$57,&8/$56 2) /2$16 *8$5$17((6 $1' ,19(670(176 7KH&RPSDQ\KDVQRWDFFHSWHGDQ\GHSRVLWVIURPWKHSXEOLF

The particulars of loans, guarantees and investments have &25325$7(*29(51$1&(5(3257 EHHQGLVFORVHGLQWKH¿QDQFLDOVWDWHPHQWVZKLFKIRUPVSDUWRI WKLV$QQXDO5HSRUW 7KH&RUSRUDWH*RYHUQDQFH5HSRUWLQWHUPVRI5HJXODWLRQ RI WKH /LVWLQJ 5HJXODWLRQV DORQJ ZLWK WKH 6WDWXWRU\ $XGLWRUV¶ 75$16$&7,216:,7+5(/$7('3$57,(6 FHUWL¿FDWHLVDWWDFKHGDQGIRUPVSDUWRIWKLV$QQXDO5HSRUW

The particulars of transactions entered into with the related %86,1(665(63216,%,/,7<5(3257 SDUWLHVUHIHUUHGWRLQ6HFWLRQ DQGDSSOLFDEOHUXOHVRIWKH Act, have been given in $QQH[XUHLQ)RUP$2&ZKLFKIRUPV 7KH/LVWLQJ5HJXODWLRQVPDQGDWHVWKHLQFOXVLRQRI%XVLQHVV SDUWRIWKLV5HSRUW7KH&RPSDQ\DOVRKDVLQSODFHDµ5HODWHG 5HVSRQVLELOLW\5HSRUW µ%55¶ DVSDUWRIWKH$QQXDO5HSRUWIRU 3DUW\3ROLF\¶ZKLFKLVDYDLODEOHRQWKHZHEVLWHRIWKH&RPSDQ\ WRSOLVWHGFRPSDQLHVEDVHGRQPDUNHWFDSLWDOL]DWLRQ,Q at KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV compliance with this regulation, the Company has prepared D %55 IRU WKH ¿QDQFLDO \HDU ZKLFK GHVFULEHV WKH &25325$7(62&,$/5(63216,%,/,7< initiatives taken by the Company from an environmental, social and governance perspective and the same forms part 7KH &RUSRUDWH 6RFLDO 5HVSRQVLELOLW\ µ&65¶ &RPPLWWHH LV RIWKLV$QQXDO5HSRUW LQWHUDOLD responsible for formulating and monitoring the CSR 3ROLF\ RI WKH &RPSDQ\$ EULHI RXWOLQH RI WKH &65 3ROLF\ RI ,16,'(575$',1*5(*8/$7,216 the Company and the initiatives undertaken by the Company on CSR activities during the year are set out in $QQH[XUH of 3XUVXDQW WR WKH SURYLVLRQV RI WKH 6(%, 3URKLELWLRQ RI this Report in the form as prescribed under the Companies ,QVLGHU 7UDGLQJ 5HJXODWLRQV DV DPHQGHG IURP WLPH &RUSRUDWH 6RFLDO 5HVSRQVLELOLW\ 3ROLF\ 5XOHV 7KH to time), the Company has adopted a Code of Conduct on CSR Policy is available on the website of the Company at 3URKLELWLRQ RI ,QVLGHU 7UDGLQJ µ,QVLGHU 7UDGLQJ &RGH¶ DQG KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV a Code of Practices and Procedures for fair disclosure of 8QSXEOLVKHG 3ULFH 6HQVLWLYH ,QIRUPDWLRQ µ)DLU 'LVFORVXUH ',9,'(1'',675,%87,2132/,&< &RGH¶ LQFRUSRUDWLQJ WKH DPHQGPHQWV LQ 6(%, 3URKLELWLRQ RI ,QVLGHU 7UDGLQJ 5HJXODWLRQV 7KH )DLU 'LVFORVXUH The Company has formulated and published a Dividend Code is available on the website of the Company at Distribution Policy which provides for the circumstances KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV under which the shareholders may / may not expect dividend, WKH ¿QDQFLDO SDUDPHWHUV LQWHUQDO DQG H[WHUQDO IDFWRUV $:$5'6$1'5(&2*1,7,216 utilization of retained earnings, parameters with regard to GLIIHUHQW FODVVHV RI VKDUHV HWF 7KH SURYLVLRQV RI WKLV 3ROLF\ Your Company relentlessly pursues excellence and is delighted DUH LQ OLQH ZLWK 5HJXODWLRQ $ RI WKH /LVWLQJ 5HJXODWLRQV to receive phenomenal share of recognitions and awards, not and the Policy is available on the website of the Company at only from the media, but also from analysts, governing bodies, KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV DFDGHPLF LQVWLWXWLRQV SDUWQHUV DQG HYHQ FXVWRPHUV 6RPH The details of the Dividend Distribution Policy forms part of the of the key honors received by the Company during the year &RUSRUDWH*RYHUQDQFH5HSRUWDQQH[HGZLWKWKLV$QQXDO5HSRUW include:

81&/$,0('',9,'(1'6$1'75$16)(572,19(6725 Awards – EDUCATION AND PROTECTION FUND 7KH &RPSDQ\ KDV EHHQ DZDUGHG µ%HVW 5RERWLF 3XUVXDQW WR WKH SURYLVLRQV RI 6HFWLRQ RI WKH$FW WKRVH 3URFHVV$XWRPDWLRQ 53$ DQG$UWL¿FLDO,QWHOOLJHQFH $, dividend amounts which have remained unpaid or unclaimed ,PSOHPHQWDWLRQRIWKH

Annual Report 2019-20 72 7KH &RPSDQ\ KDV EHHQ DZDUGHG IRU RXWVWDQGLQJ *URXS¶V

achievement in Intelligent Automation Implementation ® LQ %DQNLQJ DQG )LQDQFLDO 6HUYLFHV DW WKH &02 $VLD¶V 'LJLWDO :RUNSODFH 6HUYLFHV 3($. 0DWUL[ 2XWVRXUFLQJ([FHOOHQFH$ZDUGV $VVHVVPHQW 6RIWZDUH 3URGXFW (QJLQHHULQJ 6HUYLFHV 3($. 7KH &RPSDQ\ KDV EHHQ DZDUGHG µ%HVW ,QQRYDWLRQ LQ 0DWUL[®$VVHVVPHQW ,QWHOOLJHQW$XWRPDWLRQ3URGXFW¶DWWKH(712:±6WDUVRI WKH,QGXVWU\$ZDUGVIRU([FHOOHQFHLQ2XWVRXUFLQJ 7DOHQW 5HDGLQHVV IRU 1H[W*HQ ,7 6HUYLFHV 3($. 0DWUL[®$VVHVVPHQW 7KH &RPSDQ\ KDV EHHQ DZDUGHG DW WKH $GREH (QWHUSULVH %ORFNFKDLQ 6HUYLFHV 3($. 0DWUL[® ([SHULHQFH0DNHU$ZDUGVIRUGHOLYHULQJ%HVW'DWD $VVHVVPHQW 'ULYHQ ([SHULHQFH IRU 0DQFKHVWHU 8QLWHG¶V PLOOLRQV RI IDQVDFURVVWKHJOREH &ORXG6HUYLFHV3($.0DWUL[®$VVHVVPHQW 1HWZRUN 7UDQVIRUPDWLRQ DQG 0DQDJHG 6HUYLFHV +&/)RXQGDWLRQWKH&65DUPRIWKH&RPSDQ\KDVDOVR ® ZRQ PDQ\ DZDUGV LQFOXGLQJ WKH µ&KDQJHPDNHU $ZDUG¶ 3($.0DWUL[ $VVHVVPHQW at the Right Start National Summit and the First Runner $SSOLFDWLRQ 7UDQVIRUPDWLRQ 6HUYLFHV 3($. 0DWUL[® 8S$ZDUGDWWKH0&&,7$)(&65$ZDUGV,WZDV $VVHVVPHQW DOVR UHFRJQL]HG E\ WKH %DVLF 'LUHFWRUDWH RI (GXFDWLRQ *RYHUQPHQWRI8WWDU3UDGHVKIRUFUHDWLQJDSDWKZD\WR 7KH &RPSDQ\ ZDV UHFRJQL]HG DV D µ/HDGHU¶ LQ ,6* new education and changing the horizon of the education 3URYLGHU/HQV5HVHDUFK4XDGUDQWIRU HFRV\VWHPRI8WWDU3UDGHVK l SAP HANA and Leonardo Ecosystem Partners: Recognitions – 6$3 6+$1$ %XVLQHVV 6XLWH RQ +$1$ 7KH&RPSDQ\ZDVSRVLWLRQHGDVDµ/HDGHU¶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l WHFKQRORJ\XVHUVWRVHOHFWRQO\WKRVHYHQGRUVZLWKWKHKLJKHVW 1H[W*HQ$SSOLFDWLRQ 'HYHORSPHQW 0DLQWHQDQFH UDWLQJV RU RWKHU GHVLJQDWLRQ *DUWQHU UHVHDUFK SXEOLFDWLRQV $'0 6HUYLFHV FRQVLVW RI WKH RSLQLRQV RI *DUWQHU¶V UHVHDUFK RUJDQL]DWLRQ DQG VKRXOGQRWEHFRQVWUXHGDVVWDWHPHQWVRIIDFW*DUWQHUGLVFODLPV 1H[W*HQ$'086$ DOOZDUUDQWLHVH[SUHVVRULPSOLHGZLWKUHVSHFWWRWKLVUHVHDUFK 'HY2SV&RQVXOWLQJ86$ LQFOXGLQJ DQ\ ZDUUDQWLHV RI PHUFKDQWDELOLW\ RU ¿WQHVV IRU D &RQWLQXRXV7HVWLQJ86$ SDUWLFXODUSXUSRVH $JLOH'HYHORSPHQW86$

7KH &RPSDQ\ ZDV SRVLWLRQHG DV D µ/HDGHU¶ LQ 7KH 6867$,1$%,/,7< )RUUHVWHU :DYH IRU $SSOLFDWLRQ 0RGHUQL]DWLRQ DQG 0LJUDWLRQ6HUYLFHV The Company believes in a better tomorrow and based on this VWURQJ EHOLHI KDV HPEDUNHG RQ D 6XVWDLQDELOLW\ SURJUDPPH 7KH&RPSDQ\ZDVSRVLWLRQHGDVDµ/HDGHU¶LQ,'&0DUNHW 7KH&RPSDQ\¶VFRQWLQXRXVIRFXVRQLPSURYLQJDOODVSHFWVRI Scape for: sustainability demonstrates its commitment to a sustainable :RUOGZLGH$UWL¿FLDO,QWHOOLJHQFH6HUYLFHV WRPRUURZ ZLWKRXW FRPSURPLVLQJ RQ WKH ZHOOEHLQJ RI LWV ,'&'RF86$SULO HPSOR\HHV WRGD\ 7R GR WKLV WKH &RPSDQ\ SDUWQHUV ZLWK multiple stakeholders to form an inclusive working group to :RUOGZLGH0DQDJHG&ORXG6HUYLFH FUHDWHSROLFLHVSURFHVVHVDQGRWKHURUJDQL]DWLRQDOPHDVXUHV ,'&'RF86-XO\ Today, the Sustainability function runs a vital program to drive WKHVXVWDLQDELOLW\YLVLRQZLWKLQWKHRUJDQL]DWLRQ :RUOGZLGH,QWHOOLJHQW$XWRPDWLRQ6HUYLFHV 'RF866HSWHPEHU The ongoing success of the programme depends on a :RUOGZLGH'LJLWDO:RUNVSDFH6HUYLFHV FRQVLVWHQW DQG VXVWDLQDEOH YLVLRQ HDVH DQG ÀH[LELOLW\ RI 'RF860DUFK LPSOHPHQWDWLRQDQGPRVWLPSRUWDQWO\(PSOR\HH(QJDJHPHQW $W+&/VXVWDLQDELOLW\DFWLRQVDUHDSDUWRIHYHU\GD\RSHUDWLRQV :RUOGZLGH%XVLQHVVDQG,QGXVWULDO,R7(QJLQHHULQJ It believes that responsible investments in sustainability will DQG0DQDJHG6HUYLFHV generate long term value for all the stakeholders by improving 'RF860DUFK FRPSHWLWLYHQHVVDQGUHGXFLQJULVN :RUOGZLGH%XVLQHVVDQG,QGXVWULDO,R7&RQVXOWLQJ DQG6\VWHPV,QWHJUDWLRQ6HUYLFHV Sustainability can be created when we are able to integrate 'RF860DUFK broader societal concerns into business strategy and SHUIRUPDQFHDVSDUWRIWKH&RPSDQ\¶VEXVLQHVVPRGHO7KLV 7KH &RPSDQ\ ZDV SRVLWLRQHG DV D µ/HDGHU¶ LQ WKH common sense of ownership can be realized by incorporating $YDVDQW¶V&\EHUVHFXULW\6HUYLFHV5DGDU9LHZ70 the interests of all those with whom the Company has mutually GHSHQGHQWUHODWLRQVKLSV 7KH &RPSDQ\ ZDV SRVLWLRQHG DV D µ/HDGHU¶ LQ (YHUHVW

73 Directors’ Report 25*$1,=$7,21())(&7,9(1(66 ZLWK WKH UHOHYDQW VNLOO VHWV WR EHFRPH st FHQWXU\ OHDGHUV This translates into a portfolio of learning solutions designed (PSOR\HH6WUHQJWKDQG([SDQVLRQ to address the competencies relevant to each talent segment, thus creating an integrated and comprehensive learning As we close out another successful year, the Company ecosystem focusing on the development of Ideapreneurs along with its subsidiaries has attained impressive employee DQG GULYLQJ NH\ EXVLQHVV RXWFRPHV 7KH FRQWLQXRXV HIIRUW DGGLWLRQVDQGDQHPSOR\HHVWUHQJWKRIDQGFRQWLQXHV and focus being to build a productive learning culture via WREXLOGDQGVXSSRUWWKHEXVLQHVVVWUDWHJ\RI³0RGH´ /($51_81/($51_5(/($51PLQGVHW

7KHHPSKDVLVDQGFRPPLWPHQWWRWDOHQWORFDOL]DWLRQFRQWLQXHV 'LYHUVLW\DQG,QFOXVLRQ The Company believes that this strategy confers competitive advantages in a tightening regulatory environment with 7KH &RPSDQ\¶V GLYHUVLW\ DQG LQFOXVLRQ VWUDWHJ\ IRFXVHV RQ UHVSHFWWRZRUNIRUFHPRELOLW\7KHIRFXVRQWDSSLQJWKHXQLTXH talent attraction, talent growth and talent retention and its DGYDQWDJHV RI WLHU FLWLHV LQ ,QGLD FRQWLQXHV 7KHVH FLWLHV corporate vision and strategy strongly endorses this principle HQDEOHKLJKHURSHUDWLRQDOUHVLOLHQFHVWDELOLW\DQGVFDODELOLW\ of providing the employees with a work environment free of all kind of biases and full of growth opportunities where employees The Company prides itself in employing people from different DUHHQDEOHGWRUHDFKWKHLUIXOOSRWHQWLDO3URJUDPVRQFDUHHU JHRJUDSKLHVDQGQDWLRQDOLWLHVFUHDWLQJDXQLTXHIDEULFRIYDOXHV development, networking and advocacy are helping in building DQGWUDGLWLRQV$VRQ0DUFKWKH&RPSDQ\HPSOR\HG an inclusive workforce which goes beyond demographic UHVRXUFHV IURP QDWLRQDOLWLHV VSUHDG DFURVV FRXQWULHV differences to include gender, nationality, culture, ethnicity, DQGZRPHQUHSUHVHQWHGRIWKHJOREDOZRUNIRUFH DJHVH[XDORULHQWDWLRQDQGWKHGLIIHULQJDELOLWLHVRILQGLYLGXDOV 7KH&RPSDQ\KDVVHHQDQLQFUHDVHRIZRPHQLQVHQLRU 7DOHQW$FTXLVLWLRQ leadership from last year and the gender diversity ratio for VHQLRUOHDGHUVKLSVWDQGVDWDJDLQVWODVW\HDU7KH 7KHWDOHQWDFTXLVLWLRQSUDFWLFHVRIWKH&RPSDQ\DUHDOLJQHGWR RYHUDOOJHQGHUGLYHUVLW\UDWHLVFXUUHQWO\DW LWV0RGHVWUDWHJ\7KH&RPSDQ\KDVOHYHUDJHGGLJLWDO WHFKQRORJLHVWRHQKDQFHWKHTXDOLW\DQGH[SHULHQFHRILWVWDOHQW 5HFRJQLWLRQ RI +&/ &XOWXUH DQG (QJDJHPHQW 3UDFWLFHV DFTXLVLWLRQ SURJUDPV 7KH DXWRPDWLRQ LV VHW WR DFFHOHUDWH DFURVVWKHZRUOG business towards greater success, helping the employees use and develop their talents, skills and experience, contributing to To reinforce alignment of core beliefs and actions, the WKH&RPSDQ\¶VORQJWHUPJRDOV Company continues to transform its policies, processes DQGSUDFWLFHV7KLVKDVIXUWKHUHQDEOHGDQGHPSRZHUHGWKH $V ¿QGLQJ WRS WDOHQW WRGD\ GHSHQGV RQ DQ RUJDQL]DWLRQ¶V employees, a fact that has been well recognized by various DELOLW\ WR LQWHOOLJHQWO\ DXWRPDWH WKHLU ZRUNÀRZ WKH &RPSDQ\ LQGXVWU\ IRUXPV DQG OHDGLQJ DVVRFLDWLRQV 2XU GLVWLQFWLYH VWUHDPOLQHG FULWLFDO DVSHFWV RI LWV UHFUXLWLQJ ZRUNÀRZ ZLWK SHRSOHSUDFWLFHVFRQWLQXHWRZLQDFFRODGHVDFURVVWKHJOREH automation by introducing “7HFKUXLW” which is its technology WUDQVIRUPDWLRQLQLWLDWLYHIRUWDOHQWDFTXLVLWLRQ 7KH &RPSDQ\ KDV EHHQ FHUWL¿HG DV WKH 7RS(PSOR\HU Europe by the Top Employer Institute, earning the 7KHLQWHQWRILQWHJUDWLRQLVWRSURYLGHDQHQGWRHQGFRQYHUJHG SRVLWLRQ RI 7RS(PSOR\HU IRU WKH ¿UVW WLPH LQ *HUPDQ\ selection process through search and match tool and digital 1HWKHUODQGV)UDQFH3RODQGDQG6ZHGHQ7RS(PSOR\HU assessment and interview management platform for recruiters, LQ WKH 8QLWHG .LQJGRP IRU WKH IRXUWHHQWK FRQVHFXWLYH KLULQJPDQDJHUVDQGFDQGLGDWHV7KLVLVWRUHGXFHWKHF\FOH \HDUDQG7RS(PSOR\HULQ6RXWK$IULFD time from screening to selection through improved process HI¿FLHQF\ UHVXOWLQJ LQ LPSURYHG UHFUXLWPHQW H[SHULHQFH DQG +&/ 7HFKQRORJLHV8. /LPLWHG D VWHSGRZQ VXEVLGLDU\ RI TXDOLW\RIKLUH the Company, has been recognized as Highly Commended &RPSDQ\RIWKH

5HFUXLWPHQW DXWRPDWLRQ IRU SUHTXDOL¿FDWLRQ LQWHUHVW The Company has also received various recognitions by check -REIRUKHULQFOXGLQJµ7RS0RVW,QQRYDWLYH3UDFWLFHV¶IRULWV 'LY+(5VLW\3URJUDPVµ7RS&RPSDQLHVLQ'LY+(5VLW\¶ 5HFUXLWPHQWDXWRPDWLRQIRULQWHUYLHZVDQGDVVHVVPHQWV /DUJH(QWHUSULVHV DQGµ7RS0RVW,QQRYDWLYH3UDFWLFHV¶ IRU:RPHQ5HWXUQHH3URJUDPV:RPHQ/ '3URJUDPV :LWK DQ LPSUHVVLYH JURVV KLULQJ RI SURIHVVLRQDOV DQG:RPHQ/HDGHUVKLS'HYHORSPHQW3URJUDPV DFURVVWKHJOREHWKH&RPSDQ\OHYHUDJHGDUWL¿FLDOLQWHOOLJHQFH DQGGDWDVFLHQFHWRKLUHWKHULJKWWDOHQWDWWKHULJKWWLPH 7KH &RPSDQ\ ZDV IHOLFLWDWHG ZLWK YDULRXV %UDQGRQ +DOO *URXS([FHOOHQFH$ZDUGVXQGHUYDULRXVFDWHJRULHVLQFOXGLQJ 7DOHQW'HYHORSPHQW µ%HVW DGYDQFH LQ 7DOHQW$FTXLVLWLRQ 7HFKQRORJ\¶ DQG µ%HVW 8QLTXHRU,QQRYDWLYH/HDUQLQJDQG'HYHORSPHQW3URJUDP¶ 7KH &RPSDQ\¶V 7DOHQW 'HYHORSPHQW &HQWUH RI ([FHOOHQFH (CoE) is a key partner to current and future strategic 7KH &RPSDQ\ KDV ZRQ WKH %XVLQHVV :RUOG +5 imperatives where business strategies are tied into talent ([FHOOHQFH $ZDUG IRU LWV UHFUXLWPHQW DXWRPDWLRQ development approach by understanding “:KDW¶VGULYLQJWKH program “7HFKUXLW´ EXVLQHVVDQGWKHUHIRUHZKDWVKRXOGEHGULYLQJWKH3HRSOH´ 7KH&RPSDQ\KDVZRQWKH³%HVW,QQRYDWLRQLQ(PSOR\HH ,QDOLJQPHQWWRWKH&RPSDQ\¶V0RGHVWUDWHJ\LWRIIHUVD (QJDJHPHQW´ DZDUG E\ 8%6 )RUXPVIRU GHPRQVWUDWLQJ robust and nurturing learning framework to empower HCLites H[FHSWLRQDOLQQRYDWLRQLQHQJDJLQJWKHHPSOR\HHV Annual Report 2019-20 74 7KH&RPSDQ\KDVZRQWKH%HVW3HRSOH&DSLWDO,QGH[ 5DWLRWRPHGLDQ Sl. 3&, FRPSDQLHVIRUEHLQJDQLQGLFDWRURIHPSOR\HH 1DPHRI'LUHFWRU UHPXQHUDWLRQRI No. perception on how well the organization is developing HPSOR\HHV WKHLUSHRSOHFDSLWDO 0U7KRPDV6LHEHU 7KH&RPSDQ\KDVEHHQUDWHGDµ/HDGHU¶LQWKH,QDXJXUDO HGLWLRQ RI (YHUHVW *URXS¶V 7DOHQW 5HDGLQHVV IRU 1H[W Notes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the extent applicable to the Company, are set out in Annexure WKHVDLGLQIRUPDWLRQLVLQFRPSDUDEOHDQGQRWSURYLGHG 5WRWKLV5HSRUW 'U 0RKDQ &KHOODSSD ZDV DSSRLQWHG DV DQ $GGLWLRQDO 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ([HFXWLYH ,QGHSHQGHQW ',5(&7256¶5(63216,%,/,7<67$7(0(17 'LUHFWRUZHI$XJXVW+HQFHWKHVDLGLQIRUPDWLRQ LVLQFRPSDUDEOHDQGQRWSURYLGHG A statement of responsibility of the Directors relating to 0U 6KLNKDU 1HHONDPDO 0DOKRWUD ZDV DSSRLQWHG DV DQ FRPSOLDQFH ZLWK WKH ¿QDQFLDO DFFRXQWLQJ DQG UHSRUWLQJ $GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH1RQ UHTXLUHPHQWV LQ UHVSHFW RI WKH ¿QDQFLDO VWDWHPHQWV DV ,QGHSHQGHQW'LUHFWRUZHI2FWREHU+HQFHWKH VSHFL¿HG XQGHU 6HFWLRQ F RI WKH$FW LV DQQH[HG DV VDLGLQIRUPDWLRQLVLQFRPSDUDEOHDQGQRWSURYLGHG $QQH[XUHWRWKLV5HSRUW 0U6LPRQ-RKQ(QJODQGZDVDSSRLQWHGDVDQ$GGLWLRQDO 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ([HFXWLYH ,QGHSHQGHQW 672&.237,2163/$16 'LUHFWRU ZHI -DQXDU\ +HQFH WKH VDLG LQIRUPDWLRQLVLQFRPSDUDEOHDQGQRWSURYLGHG 6WRFN2SWLRQ3ODQ6WRFN2SWLRQ3ODQ 0U6XGKLQGDU.ULVKDQ.KDQQDUHVLJQHGDVD'LUHFWRURIWKH 6WRFN2SWLRQ3ODQ &RPSDQ\ZHI$SULO+HQFHWKHVDLGLQIRUPDWLRQ LVLQFRPSDUDEOHDQGQRWSURYLGHG The details of these plans have been annexed as Annexure 7 WRWKLV5HSRUW % 7KH SHUFHQWDJH LQFUHDVH LQ UHPXQHUDWLRQ RI HDFK 'LUHFWRU &KLHI ([HFXWLYH 2I¿FHU &KLHI )LQDQFLDO 3$57,&8/$562)(03/2<((6 2I¿FHU&RPSDQ\6HFUHWDU\LQWKH¿QDQFLDO\HDU

LQFUHDVHLQ 7KHLQIRUPDWLRQUHTXLUHGSXUVXDQWWR6HFWLRQ RIWKH Sl. 1DPHRI'LUHFWRU UHPXQHUDWLRQLQ $FWUHDGZLWK5XOH RIWKH&RPSDQLHV $SSRLQWPHQWDQG No. 5HPXQHUDWLRQ RI 0DQDJHULDO 3HUVRQQHO 5XOHV DUH WKH¿QDQFLDO\HDU given below: 'LUHFWRUV $ 7KH UDWLR RI UHPXQHUDWLRQ RI HDFK GLUHFWRU WR WKH 0U6KLY1DGDU PHGLDQ UHPXQHUDWLRQ RI WKH HPSOR\HHV RI WKH &RPSDQ\IRUWKH¿QDQFLDO\HDU 0U'HHSDN.DSRRU 0U-DPHV3KLOLS$GDPF]\N 5DWLRWRPHGLDQ Sl. 1DPHRI'LUHFWRU UHPXQHUDWLRQRI 0U60DGKDYDQ No. HPSOR\HHV 5 'U0RKDQ&KHOODSSD ([HFXWLYH'LUHFWRU 0V1LVKL9DVXGHYD 0U6KLY1DGDU 7 0V5RELQ$QQ$EUDPV 1RQ([HFXWLYH'LUHFWRUV 8 0V5RVKQL1DGDU0DOKRWUD 0U'HHSDN.DSRRU 9 'U6RVDOH6KDQNDUD6DVWU\ 0U-DPHV3KLOLS$GDPF]\N 0U6KLNKDU1HHONDPDO0DOKRWUD 0U60DGKDYDQ 0U56ULQLYDVDQ 5 'U0RKDQ&KHOODSSD 0U6LPRQ-RKQ(QJODQG(5) 0V1LVKL9DVXGHYD 0U6XGKLQGDU.ULVKDQ.KDQQD 7 0V5RELQ$QQ$EUDPV 0U7KRPDV6LHEHU 8 0V5RVKQL1DGDU0DOKRWUD .H\0DQDJHULDO3HUVRQQHO(7) 9 'U6RVDOH6KDQNDUD6DVWU\ 0U&9LMD\DNXPDU 3UHVLGHQW &KLHI([HFXWLYH2I¿FHU (8) 0U6KLNKDU1HHONDPDO0DOKRWUD 0U3UDWHHN$JJDUZDO &KLHI 0U56ULQLYDVDQ )LQDQFLDO2I¿FHU (9) 0U6LPRQ-RKQ(QJODQG(5) 0U0DQLVK$QDQG &RPSDQ\ 0U6XGKLQGDU.ULVKDQ.KDQQD Secretary)

75 Directors’ Report Notes: ) $I¿UPDWLRQ WKDW WKH UHPXQHUDWLRQ LV DV SHU WKH 7KHUHPXQHUDWLRQRI1RQ([HFXWLYH'LUHFWRUVDOVRLQFOXGHVVLWWLQJIHHV UHPXQHUDWLRQSROLF\RIWKH&RPSDQ\ SDLGGXULQJWKH\HDU 7KH&RPSDQ\DI¿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list containing the top ten employees in terms of the WKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI$XJXVW UHPXQHUDWLRQ GUDZQ LQ WKH ¿QDQFLDO \HDU DQG D +HQFH WKH VDLG LQIRUPDWLRQ LV LQFRPSDUDEOH DQG QRW statement containing the names of the employees employed SURYLGHG WKURXJKRXWWKH¿QDQFLDO\HDUDQGLQUHFHLSWRIUHPXQHUDWLRQ 0U6KLNKDU1HHONDPDO0DOKRWUDZDVDSSRLQWHGDVDQ$GGLWLRQDO RI ൘ FURUH RU PRUH DQG HPSOR\HHV HPSOR\HG IRU SDUW 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ([HFXWLYH 1RQ,QGHSHQGHQW RIWKH\HDUDQGLQUHFHLSWRI൘ODFVRUPRUHSHUPRQWK 'LUHFWRUZHI2FWREHU+HQFHWKHVDLGLQIRUPDWLRQLV SXUVXDQW WR 5XOH RI WKH &RPSDQLHV $SSRLQWPHQW DQG LQFRPSDUDEOHDQGQRWSURYLGHG 5HPXQHUDWLRQ RI 0DQDJHULDO 3HUVRQQHO 5XOHV LV provided as Annexure 8WRWKLV5HSRUW 0U6LPRQ-RKQ(QJODQGZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ([HFXWLYH ,QGHSHQGHQW 'LUHFWRU ZHI -DQXDU\+HQFHWKHVDLGLQIRUPDWLRQLVLQFRPSDUDEOH 9,*,/0(&+$1,60:+,67/(%/2:(532/,&< DQGQRWSURYLGHG 7KH&RPSDQ\KDVIRUPXODWHGDQGSXEOLVKHGD:KLVWOHEORZHU 0U 6XGKLQGDU .ULVKDQ .KDQQD UHVLJQHG DV D 'LUHFWRU RI WKH 3ROLF\ WR SURYLGH 9LJLO 0HFKDQLVP IRU HPSOR\HHV LQFOXGLQJ &RPSDQ\ ZHI $SULO +HQFH WKH VDLG LQIRUPDWLRQ LV the Directors of the Company to report genuine concerns LQFRPSDUDEOHDQGQRWSURYLGHG (including reporting of instances of leakage of unpublished 7KHUHPXQHUDWLRQSDLGWRWKH.H\0DQDJHULDO3HUVRQQHOLQFOXGHV price sensitive information) and to ensure strict compliance /RQJ 7HUP ,QFHQWLYH ZKLFK ZDV GLVEXUVHG E\ WKH &RPSDQ\ ZLWK HWKLFDO DQG OHJDO VWDQGDUGV DFURVV WKH &RPSDQ\ 7KH GXULQJWKH¿QDQFLDO\HDU provisions of this Policy are in line with the provisions of 0U & 9LMD\DNXPDU LV QRW JHWWLQJ DQ\ UHPXQHUDWLRQ IURP WKH WKH 6HFWLRQ RI WKH $FW DQG WKH /LVWLQJ 5HJXODWLRQV &RPSDQ\KRZHYHUKHUHFHLYHVUHPXQHUDWLRQIURP+&/$PHULFD and are available on the website of the Company at ,QFDZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV 7KHGHWDLOVRIWKH:KLVWOHEORZHU3ROLF\IRUPSDUWRIWKH&RUSRUDWH 0U3UDWHHN$JJDUZDOZDVDSSRLQWHGDVWKH&)2RIWKH&RPSDQ\ ZHI 2FWREHU $FFRUGLQJO\ WKH VDLG LQIRUPDWLRQ LV *RYHUQDQFH5HSRUWDQQH[HGZLWKWKLV$QQXDO5HSRUW LQFRPSDUDEOHDQGQRWSURYLGHG ',6&/2685( 81'(5 6(;8$/ +$5$660(17 2) & 7KHSHUFHQWDJHLQFUHDVHLQWKHPHGLDQUHPXQHUDWLRQ :20(1 $7 :25.3/$&( 35(9(17,21 352+,%,7,21 RIHPSOR\HHVLQWKH¿QDQFLDO\HDU $1'5('5(66$/ $&7

' 7KHQXPEHURISHUPDQHQWHPSOR\HHVRQWKHUROOVRI The Company has in place a Prevention and Redressal &RPSDQ\ 7KHUH ZHUH SHUPDQHQW HPSOR\HHV RI 6H[XDO +DUDVVPHQW DW :RUNSODFH 3ROLF\ LQ OLQH ZLWK WKH RQ WKH UROOV RI WKH &RPSDQ\ ,Q DGGLWLRQ WKH &RPSDQ\ UHTXLUHPHQWVRI6H[XDO+DUDVVPHQWRI:RPHQDW:RUNSODFH KDG QXPEHU RI HPSOR\HHV RQ WKH UROOV RI LWV 3UHYHQWLRQ 3URKLELWLRQ DQG 5HGUHVVDO $FW 7KH VXEVLGLDULHV Company has constituted an Internal Committee for the UHGUHVVDORIDOOVH[XDOKDUDVVPHQWFRPSODLQWV7KHVHPDWWHUV ( $YHUDJH SHUFHQWLOH LQFUHDVH DOUHDG\ PDGH LQ WKH DUHDOVREHLQJUHSRUWHGWRWKH$XGLW&RPPLWWHH7KHGHWDLOV VDODULHV RI HPSOR\HHV RWKHU WKDQ WKH PDQDJHULDO of the Policy and the complaints are given under Corporate SHUVRQQHOLQWKHODVW¿QDQFLDO\HDUDQGLWVFRPSDULVRQ *RYHUQDQFH 5HSRUWDQG WKH%XVLQHVV5HVSRQVLELOLW\ 5HSRUW ZLWK WKH SHUFHQWLOH LQFUHDVH LQ WKH PDQDJHULDO UHVSHFWLYHO\DQQH[HGZLWKWKLV$QQXDO5HSRUW UHPXQHUDWLRQDQGMXVWL¿FDWLRQWKHUHRIDQGSRLQWRXWLI WKHUHDUHDQ\H[FHSWLRQDOFLUFXPVWDQFHVIRULQFUHDVH $&.12:/('*(0(176 LQWKHPDQDJHULDOUHPXQHUDWLRQ 7KH %RDUG ZLVKHV WR SODFH RQ UHFRUG LWV DSSUHFLDWLRQ RI The average percentile increase made in the salaries of WKH VLJQL¿FDQW FRQWULEXWLRQV PDGH E\ WKH HPSOR\HHV RI WKH employees other than the managerial personnel in the &RPSDQ\DQGLWVVXEVLGLDULHVGXULQJWKH\HDUXQGHUUHYLHZ ODVW¿QDQFLDO\HDUZDV The Company has achieved impressive growth through competence, hard work, solidarity, cooperation and support of 0U 6KLY 1DGDU EHLQJ WKH 0DQDJLQJ 'LUHFWRU LV WKH HPSOR\HHVDWDOOOHYHOV

Place: New Delhi, India 'DWH0D\ Annual Report 2019-20 76 $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW SECRETARIAL AUDIT REPORT )257+(),1$1&,$/<($5(1'('0$5&+

7KH0HPEHUV (f) 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 5HJLVWUDUV +&/7HFKQRORJLHV/LPLWHG to an Issue and Share Transfer Agents) Regulations, 6LGGKDUWK UHJDUGLQJWKH&RPSDQLHV$FWDQGGHDOLQJZLWKFOLHQW 1HKUX3ODFH WRWKHH[WHQWRIVHFXULWLHVLVVXHG 1HZ'HOKL (g) 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 'HOLVWLQJRI :H KDYH FRQGXFWHG WKH 6HFUHWDULDO $XGLW RI WKH FRPSOLDQFH (TXLW\6KDUHV 5HJXODWLRQV1RW$SSOLFDEOH and of applicable statutory provisions and the adherence to good corporate governance practices by HCL Technologies Limited (h) 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD %X\EDFNRI KHUHLQDIWHU FDOOHG ³WKH &RPSDQ\´ 6HFUHWDULDO $XGLW ZDV 6HFXULWLHV 5HJXODWLRQV1RW$SSOLFDEOH conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/ statutory compliances and YL 7KHRWKHUODZVDVLQIRUPHGDQGFHUWL¿HGE\WKH0DQDJHPHQW H[SUHVVLQJRXURSLQLRQWKHUHRQ RI WKH FRPSDQ\ ZKLFK DUH VSHFL¿FDOO\ DSSOLFDEOH WR WKH Company based on the Sectors/ Industry are: %DVHGRQRXUYHUL¿FDWLRQRIWKH&RPSDQ\¶VERRNVSDSHUVPLQXWH ERRNVIRUPVDQGUHWXUQV¿OHGDQGRWKHUUHFRUGVPDLQWDLQHGE\WKH (a) 7KH6SHFLDO(FRQRPLF=RQH$FW Company and also the information provided by the Company, its RI¿FHUVDJHQWVDQGDXWKRUL]HGUHSUHVHQWDWLYHVGXULQJWKHFRQGXFW (b) Policy relating to Software Technology Parks of India and of secretarial audit, we hereby report that in our opinion, the LWVUHJXODWLRQV &RPSDQ\KDVGXULQJWKHDXGLWSHULRGFRYHULQJWKH¿QDQFLDO\HDU HQGHGRQ0DUFKFRPSOLHGZLWKWKHVWDWXWRU\SURYLVLRQV (c) 7KH,QGLDQ&RS\ULJKW$FW OLVWHG KHUHXQGHU DQG DOVR WKDW WKH &RPSDQ\ KDV SURSHU %RDUG SURFHVVHV DQG FRPSOLDQFHPHFKDQLVP LQ SODFH WR WKH H[WHQW LQ (d) 7KH3DWHQWV$FW WKHPDQQHUDQGVXEMHFWWRWKHUHSRUWLQJPDGHKHUHLQDIWHU (e) 7KH7UDGH0DUNV$FW :H KDYH H[DPLQHG WKH ERRNV SDSHUV PLQXWH ERRNV IRUPV DQG UHWXUQV ¿OHG DQG RWKHU UHFRUGV PDLQWDLQHG E\ WKH &RPSDQ\ IRU WKH (f) 7KH,QGLDQ7HOHJUDSK$FW ¿QDQFLDO\HDUHQGHGRQ0DUFKDFFRUGLQJWRWKHSURYLVLRQVRI (g) 7KH,QGLDQ:LUHOHVV7HOHJUDSK\$FW L 7KH &RPSDQLHV $FW WKH $FW DQG WKH UXOHV PDGH WKHUHXQGHU :HKDYHDOVRH[DPLQHGFRPSOLDQFHZLWKWKHDSSOLFDEOHFODXVHV Regulations of the following: LL 7KH6HFXULWLHV&RQWUDFWV 5HJXODWLRQ $FW µ6&5$¶ DQG WKHUXOHVPDGHWKHUHXQGHU i) Secretarial Standards issued by The Institute of Company 6HFUHWDULHV RI ,QGLD DQG QRWL¿HG E\ 0LQLVWU\ RI &RUSRUDWH LLL 7KH 'HSRVLWRULHV $FW DQG WKH 5HJXODWLRQV DQG %\H $IIDLUV ODZVIUDPHGWKHUHXQGHUWRWKHH[WHQWRI5HJXODWLRQRI6(%, 'HSRVLWRULHVDQG3DUWLFLSDQWV 5HJXODWLRQV LL 6(%, /LVWLQJ 2EOLJDWLRQV DQG 'LVFORVXUH 5HTXLUHPHQWV 5HJXODWLRQV LY )RUHLJQ ([FKDQJH 0DQDJHPHQW $FW DQG WKH UXOHV and regulations made thereunder to the extent of Foreign During the period under review the Company has complied with the Direct Investment, Overseas Direct Investment and External SURYLVLRQVRIWKH$FW5XOHV5HJXODWLRQV*XLGHOLQHV6WDQGDUGV &RPPHUFLDO%RUURZLQJV HWFPHQWLRQHGDERYH

Y 7KH IROORZLQJ 5HJXODWLRQV DQG *XLGHOLQHV SUHVFULEHG XQGHU :HIXUWKHUUHSRUWWKDW WKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD$FW µ6(%, $FW¶ 7KH %RDUG RI 'LUHFWRUV RI WKH &RPSDQ\ LV GXO\ FRQVWLWXWHG ZLWK SURSHU EDODQFH RI ([HFXWLYH 1RQ([HFXWLYH 'LUHFWRUV DQG (a) 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 6XEVWDQWLDO ,QGHSHQGHQW 'LUHFWRUV 7KH FKDQJHV LQ WKH FRPSRVLWLRQ RI WKH $FTXLVLWLRQRI6KDUHVDQG7DNHRYHUV 5HJXODWLRQV %RDUGRI'LUHFWRUVWKDWWRRNSODFHGXULQJWKHSHULRGXQGHUUHYLHZ ZHUHFDUULHGRXWLQFRPSOLDQFHZLWKWKHSURYLVLRQVRIWKH$FW (b) 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 3URKLELWLRQ RI,QVLGHU7UDGLQJ 5HJXODWLRQV $GHTXDWH QRWLFH LV JLYHQ WR DOO 'LUHFWRUV WR VFKHGXOH WKH %RDUG 0HHWLQJV Agenda and detailed notes on agenda were sent at (c) 7KH 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD ,VVXH RI least seven days in advance except in cases where meetings were &DSLWDODQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQV FRQYHQHGDWDVKRUWHUQRWLFH7KH&RPSDQ\KDVFRPSOLHGZLWKWKH SURYLVLRQV RI$FW IRU FRQYHQLQJ PHHWLQJ DW WKH VKRUWHU QRWLFH$ (d) 7KH 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD 6KDUH system exists for seeking and obtaining further information and %DVHG(PSOR\HH%HQH¿WV 5HJXODWLRQV FODUL¿FDWLRQV RQ WKH DJHQGD LWHPV EHIRUH WKH PHHWLQJ DQG IRU PHDQLQJIXOSDUWLFLSDWLRQDWWKHPHHWLQJ (e) 7KH 6HFXULWLHV DQG ([FKDQJH %RDUG RI ,QGLD ,VVXH DQG /LVWLQJ RI 'HEW 6HFXULWLHV 5HJXODWLRQV Not $OO GHFLVLRQV DW %RDUG 0HHWLQJV DQG &RPPLWWHH 0HHWLQJV DUH $SSOLFDEOH carried out unanimously as recorded in the minutes of the meetings

77 Directors’ Report RIWKH%RDUGRI'LUHFWRUVRU&RPPLWWHHRIWKH%RDUGDVWKHFDVH E 7KH&RPSDQ\DOORWWHGHTXLW\VKDUHVDVIXOO\ PD\EH SDLGXS ERQXV VKDUHV LQ WKH UDWLR RI RQH HTXLW\ ERQXV VKDUHIRUHYHU\RQHH[LVWLQJHTXLW\VKDUHKHOGRQWKHUHFRUG :HIXUWKHUUHSRUWWKDWWKHUHDUHDGHTXDWHV\VWHPVDQGSURFHVVHV GDWH WRLWVVKDUHKROGHUVRQ'HFHPEHUSXUVXDQWWRD in the company commensurate with the size and operations of the UHVROXWLRQSDVVHGE\WKHVKDUHKROGHUVRQ1RYHPEHU company to monitor and ensure compliance with applicable laws, E\SRVWDOEDOORW UXOHVUHJXODWLRQVDQGJXLGHOLQHV &RQVHTXHQWO\ WKH LVVXHG VXEVFULEHG DQG SDLGXS VKDUH :H IXUWKHU UHSRUW WKDW GXULQJ WKH DXGLW SHULRG IROORZLQJ PDMRU FDSLWDO RI WKH &RPSDQ\ DV RQ 0DUFK ZDV HYHQWVKDYHKDSSHQHGZKLFKDUHGHHPHGWRKDYHPDMRUEHDULQJ ൘ GLYLGHG LQWR HTXLW\ VKDUHV RQWKH&RPSDQ\¶VDIIDLUVLQSXUVXDQFHRIWKHDERYHUHIHUUHGODZV RIIDFHYDOXHRI൘HDFK UXOHVUHJXODWLRQVJXLGHOLQHVVWDQGDUGVHWF

D 7KH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\KDVDSSURYHGWKHVFKHPH RIDPDOJDPDWLRQ ³6FKHPH´ IRUWKHDPDOJDPDWLRQRILWVZKROO\ For &KDQGUDVHNDUDQ$VVRFLDWHV RZQHGVXEVLGLDULHVYL]+&/&RPQHW/LPLWHG+&/(DJOH/LPLWHG Company Secretaries +&/ 7HFKQRORJLHV 6ROXWLRQV /LPLWHG DQG &RQFHSWVLOLFLRQ Systems Private Limited (“Transferor Companies”), with and into HCL Technologies Limited (“Transferee Company”), 'U6&KDQGUDVHNDUDQ VXEMHFW WR QHFHVVDU\ VWDWXWRU\ DQG UHJXODWRU\ DSSURYDOV Senior Partner XQGHUDSSOLFDEOHODZVLQFOXGLQJWKHDSSURYDORIWKHMXULVGLFWLRQDO 0HPEHUVKLS1R)&6 National Company Law Tribunal(s) (“NCLT”) in India pursuant to &HUWL¿FDWHRI3UDFWLFH1R 6HFWLRQVWRRIWKH&RPSDQLHV$FW7KHFHUWL¿HG 8',1)% FRS\RIRUGHURI1&/7'HOKLEHQFK KDYLQJMXULVGLFWLRQRYHU+&/ Technologies Limited, HCL Eagle Limited and HCL Comnet 'DWH /LPLWHG DSSURYLQJ WKH 6FKHPH KDV EHHQ ¿OHG ZLWK 5HJLVWUDU Place: New Delhi RI&RPSDQLHV7KH1&/7%HQJDOXUXEHQFK KDYLQJMXULVGLFWLRQ RYHU+&/7HFKQRORJLHV6ROXWLRQV/LPLWHGDQG&RQFHSW6LOLFRQ Systems Private Limited) is yet to pass the necessary orders for 1RWH7KLVUHSRUWLVWREHUHDGZLWKRXUOHWWHURIHYHQGDWHZKLFKLV WKHDERYHVDLG6FKHPH DQQH[HGDV$QQH[XUH$DQGIRUPVDQLQWHJUDOSDUWRIWKLVUHSRUW

Annual Report 2019-20 78 Annexure-A to the 6HFUHWDULDO$XGLW5HSRUW

7KH0HPEHUV +&/7HFKQRORJLHV/LPLWHG 6LGGKDUWK 1HKUX3ODFH 1HZ'HOKL

2XU5HSRUWRIHYHQGDWHLVWREHUHDGDORQJZLWKWKLVOHWWHU

0DLQWHQDQFHRIVHFUHWDULDOUHFRUGLVWKHUHVSRQVLELOLW\RIWKHPDQDJHPHQWRIWKH&RPSDQ\2XUUHVSRQVLELOLW\LVWRH[SUHVVDQRSLQLRQ RQWKHVHVHFUHWDULDOUHFRUGVEDVHGRQRXUDXGLW

:HKDYHIROORZHGWKHDXGLWSUDFWLFHVDQGSURFHVVHVDVZHUHDSSURSULDWHWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWWKHFRUUHFWQHVVRI WKHFRQWHQWVRIWKHVHFUHWDULDOUHFRUGV7KHYHUL¿FDWLRQZDVGRQHRQWKHUDQGRPWHVWEDVLVWRHQVXUHWKDWFRUUHFWIDFWVDUHUHÀHFWHG LQVHFUHWDULDOUHFRUGV:HEHOLHYHWKDWWKHSURFHVVHVDQGSUDFWLFHVZHIROORZHGSURYLGHDUHDVRQDEOHEDVLVIRURXURSLQLRQ

:HKDYHQRWYHUL¿HGWKHFRUUHFWQHVVDQGDSSURSULDWHQHVVRI¿QDQFLDOUHFRUGVDQG%RRNVRI$FFRXQWVRIWKH&RPSDQ\

:KHUHYHUUHTXLUHGZHKDYHREWDLQHGWKH0DQDJHPHQWUHSUHVHQWDWLRQDERXWWKHFRPSOLDQFHRIODZVUXOHVDQGUHJXODWLRQVDQG KDSSHQLQJRIHYHQWVHWF

The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of PDQDJHPHQW2XUH[DPLQDWLRQZDVOLPLWHGWRWKHYHUL¿FDWLRQRISURFHGXUHVRQUDQGRPWHVWEDVLV

7KH6HFUHWDULDO$XGLWUHSRUWLVQHLWKHUDQDVVXUDQFHDVWRWKHIXWXUHYLDELOLW\RIWKH&RPSDQ\QRURIWKHHI¿FDF\RUHIIHFWLYHQHVVZLWK ZKLFKWKHPDQDJHPHQWKDVFRQGXFWHGWKHDIIDLUVRIWKH&RPSDQ\

For &KDQGUDVHNDUDQ$VVRFLDWHV Company Secretaries

'U6&KDQGUDVHNDUDQ Senior Partner 0HPEHUVKLS1R)&6 &HUWL¿FDWHRI3UDFWLFH1R 8',1)%

'DWH Place: New Delhi

1RWHV

(i) 'XHWRUHVWULFWHGPRYHPHQWDPLG&29,'SDQGHPLFZHFRQGXFWHGWKHVHFUHWDULDODXGLWE\H[DPLQLQJWKH6HFUHWDULDO5HFRUGV LQFOXGLQJ0LQXWHV'RFXPHQWV5HJLVWHUVDQGRWKHUUHFRUGVHWFDQGVRPHRIWKHPUHFHLYHGE\ZD\RIHOHFWURQLFPRGHIURPWKH &RPSDQ\DQGFRXOGQRWEHYHUL¿HGIURPWKHRULJLQDOUHFRUGV7KHPDQDJHPHQWKDVFRQ¿UPHGWKDWWKHUHFRUGVVXEPLWWHGWRXVDUH WKHWUXHDQGFRUUHFW

(ii) 7KLV5HSRUWLVOLPLWHGWRWKH6WDWXWRU\&RPSOLDQFHVRQODZVUHJXODWLRQVJXLGHOLQHVOLVWHGLQRXUUHSRUWZKLFKKDYHEHHQFRPSLOHG E\WKH&RPSDQ\XSWRWKHGDWHRIWKLV5HSRUWSHUWDLQLQJWR)LQDQFLDO

79 Directors’ Report Annexure 2 to the Directors’ Report FORM NO. MGT-9 EXTRACT OF ANNUAL RETURN As on financial year ended on 31.03.2020

(Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management & Administration) Rules, 2014) I. REGISTRATION & OTHER DETAILS:

1. CIN L74140DL1991PLC046369

2. Registration Date 12 November 1991

3. Name of the Company HCL Technologies Limited

4. Category / Sub-category of the Company Public Company Limited by Shares

5. Address of the Registered office & contact details 806, Siddharth, 96, Nehru Place, New Delhi - 110019 Tel.: +91-11-26436336

6. Whether listed company Yes

7. Name, Address & contact details of the Registrar & Transfer Link Intime India Private Limited Agent, if any C-101, 247 Park, L. B. S. Marg, Vikhroli (West), Mumbai, Maharashtra – 400 083, India Tel.: 022 - 49186270 Fax: 022 - 49186060

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (All the business activities contributing 10% or more of the total turnover of the company shall be stated)

Name and Description of main products / NIC Code of the Product / % to total turnover of the S. No. services service company

1 Computer Programming, Consultancy and Related 620 100 Activities

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

S. No. Name and Address of the Company CIN/GLN Holding/ % of Applicable Subsidiary/ shares Section Associate held 1 HCL Comnet Systems and Services U74899DL1993PLC056665 Subsidiary 100 2(87) Limited 806, Siddharth, 96, Nehru Place, New Delhi-110019 2 HCL Comnet Limited U74899DL2001PLC111951 Subsidiary 100 2(87) 806, Siddharth, 96, Nehru Place, New Delhi-110019 3 HCL Software Products Limited U72300DL1995PLC069891 Subsidiary 100 2(87) (formerly known as HCL Global Processing Services Limited) 806, Siddharth, 96, Nehru Place, New Delhi-110019 4 HCL Eagle Limited U72200DL2011PLC225052 Subsidiary 100 2(87) 806, Siddharth, 96, Nehru Place, New Delhi-110019 5 HCL Foundation U85100DL2014NPL274786 Subsidiary 100 2(87) 806, Siddharth, 96, Nehru Place, New Delhi-110019

Annual Report 2019-20 80 S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG +&/%HUPXGD/LPLWHG Not Applicable Subsidiary 9LFWRULD3ODFHWK)ORRU 9LFWRULD6WUHHW+DPLOWRQ+0 %HUPXGD 7 +&/*UHDW%ULWDLQ/LPLWHG Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%8. 8 +&/ 1HWKHUODQGV %9 Not Applicable Subsidiary 3ULQVHV%HDWUL[ODDQXQLW& %0µV*UDYHQKDJH7KH1HWKHUODQGV 9 +&/*PE+ Not Applicable Subsidiary )UDQNIXUWHU6WUDVVH' (6&+%251*HUPDQ\ +&/%HOJLXP19 Not Applicable Subsidiary /R]HQEXUJ%XV% =DYHQWHP%HOJLXP +&/6ZHGHQ$% Not Applicable Subsidiary 6YHDYDJHQWU Stockholm, Sweden +&/$XVWUDOLD6HUYLFHV3W\/LPLWHG Not Applicable Subsidiary &R0LWFKHOO 3DUWQHUV6XLWH/HYHO &ODUHQFH6WUHHW6\GQH\16: Australia HCL (New Zealand) Limited Not Applicable Subsidiary &R,OXPLQ/LPLWHGst Floor, 79 Taranaki 6WUHHW:HOOLQJWRQ1HZ=HDODQG +&/+RQJ.RQJ6$5/LPLWHG Not Applicable Subsidiary th)ORRU7DL

81 Directors’ Report S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG HCL EAS Limited Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG

$[RQ*URXS/LPLWHG Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG

+&/&DQDGD,QF Not Applicable Subsidiary IRUPHUO\NQRZQDV+&/$[RQ 7HFKQRORJLHV,QF

+&/7HFKQRORJLHV6ROXWLRQV*PEK Not Applicable Subsidiary .LUFKJDVVH=XULFK Switzerland

$[RQ6ROXWLRQV3W\/LPLWHG Not Applicable Subsidiary &R0LWFKHOO 3DUWQHUV6XLWH/HYHO &ODUHQFH6WUHHW6\GQH\ 16:$XVWUDOLD

Axon Solutions Limited Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG

+&/7HFKQRORJLHV0DOD\VLD6GQ%KG Not Applicable Subsidiary )RUPHO\+&/$[RQ0DOD\VLD6GQ%KG /(%(QWHUSULVH7HFKQRORJ\3DUN 0DOD\VLD/HEXKUD\D3XFKRQJ6J%HVL %XNLW-DOLO.XDOD/XPSXU0DOD\VLD

$[RQ6ROXWLRQV6LQJDSRUH3WH/LPLWHG Not Applicable Subsidiary %DOHVWLHU5RDG/H6KDQWLHU 6LQJDSRUH

+&/$[RQ6ROXWLRQV 6KDQJKDL &R Not Applicable Subsidiary Limited 6XLWHV)ORRU%XLOGLQJ1R/DQH 6KHQJ[LD5RDG=KDQJMLDQJ+L7HFK Park, Free Trade Zone, Shanghai

+&/,QVXUDQFH%326HUYLFHV/LPLWHG Not Applicable Subsidiary +&/+RXVH(DVWHUQ5RDG 5RPIRUG(VVH[503-

+&/$UJHQWLQDVD Not Applicable Subsidiary GH0D\RUG)ORRU %XHUQRV$LUHV$UJHQWLQD

+&/0H[LFR6GH5/ Not Applicable Subsidiary $YHQLGD(PSUHVDULRV3LVR&2/ 3XHUWD'H+LHUUR*XDGDODMDUD-DOLVFR &30H[LFR

+&/7HFKQRORJLHV5RPDQLDVUO Not Applicable Subsidiary 2I¿FH5RRP6HPLEDVHPHQW +HOHVWHXOXLVWUHHWst District, %XFKDUHVW5RPDQLD

HCL Hungary kft Not Applicable Subsidiary +%XGDSHVW6WHIiQLDX Hungary

Annual Report 2019-20 82 S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG HCL Latin America Holding LLC Not Applicable Subsidiary 2UDQJH6WUHHW:LOPLQJWRQ 'HODZDUH86$

+&/ %UD]LO 7HFKQRORJLDGD Not Applicable Subsidiary informacao EIRELI 5XDGDV2OLPStDGDV1&RQMXQWR (GL¿FLR&RQWLQHQWDO6TXDUH%DLUUR9LOD 2OtPSLD6mR3DXOR6mR3DXOR%UDVLO &(3

HCL Technologies Denmark Aps Not Applicable Subsidiary 7XERUJ%RXOHYDUG Hellerup, Denmark

HCL Technologies Norway AS Not Applicable Subsidiary 'URQQLQJ(XIHPLDV*DWH Oslo, Norway

PT HCL Technologies Indonesia Not Applicable Subsidiary *'2QH3DFL¿F3ODFH/76&%'-/ -HQG6XGLUPDQ.$96HQD\DQ .HED\RUDQ%DUX-DNDUWD6HODWDQ'., -DNDUWD,QGRQHVLD

HCL Arabia LLC Not Applicable Subsidiary $/2OD\D6WUHHW$O$TDUL\D3OD]D2I¿FH 125L\DGK.LQJGRPRI Saudi Arabia

+&/7HFKQRORJLHV3KLOLSSLQHV,QF Not Applicable Subsidiary 1HW&XEH&HQWHUUG$YHQXH&RUQHUth 6WUHHW(6TXDUH=RQH%RQLIDFLR*OREDO City, Taguig City, 0HWUR0DQLOD3KLOLSSLQHV

HCL Technologies France Not Applicable Subsidiary UXHGH&DXPDUWLQ3DULV France

)LOLDO(VSDQROD'H+&/7HFKQRORLJHV6/ Not Applicable Subsidiary 3DVHRGHOD&DVWHOODQD3ODQWD 0DGULG6SDLQ

+&/,QYHVWPHQWV 8. /LPLWHG Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG

+&/$PHULFD6ROXWLRQV,QF Not Applicable Subsidiary 3RWUHUR$YH6XQQ\YDOH &DOLIRUQLD86$

HCL Technologies Chile SPA Not Applicable Subsidiary (/*ROI3LVR/DV&RQGHV6DQWLJR &3&KLOH

+&/7HFKQRORJLHV8./LPLWHG Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG +&/7HFKQRORJLHV%9 Not Applicable Subsidiary 3ULQVHV%HDWUL[ODDQXQLW& %0µV*UDYHQKDJH7KH1HWKHUODQGV

83 Directors’ Report S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG +&/7HFKQRORJLHV*HUPDQ\*PE+ Not Applicable Subsidiary )UDQNIXUWHU6WUDVVH (6&+%251*HUPDQ\ HCL (Ireland) Information Systems Limited Not Applicable Subsidiary 7HOHSKRQH+RXVH 0DUOERXULJK6WUHHW'XEOLQ HCL Technologies Finland Oy Not Applicable Subsidiary .HLODUDQWD(VSRR)LQODQG +&/7HFKQRORJLHV%HOJLXP%9%$ Not Applicable Subsidiary /R]HQEXUJ%XV% =DYHQWHP%HOJLXP +&/7HFKQRORJLHV6ZHGHQ$% Not Applicable Subsidiary 6YHDYDJHQWU Stockholm, Sweden 55 +&/7HFKQRORJLHV,WDO\63$ Not Applicable Subsidiary 9LPRGURQH 0, YLD/XLJL&DGRUQDQ &$3,WDO\ +&/7HFKQRORJLHV&ROXPELD6$6 Not Applicable Subsidiary &51272$2) %RJRWi&ROXPELD 57 +&/7HFKQRORJLHV0LGGOH(DVW)=//& Not Applicable Subsidiary )ORRU%XLOGLQJ'XEDL,QWHUQHW &LW\'XEDL8$( 58 +&/7HFKQRORJLHV*UHHFH6LQJOH0HPEHU Not Applicable Subsidiary 3&.L¿VVLDV$YHQXH0DURXVVL $WKHQV*UHHFH 59 +&/,VWDQEXO%LOLVLP7HNQRORMLOHUL/LPLWHG Not Applicable Subsidiary 6LUNHWL0DVODN0H\GDQ'LVWULFW1R 9HNR*L]3OD]Dth)ORRU$SDUWPHQW1R ±5RRP1R6DUL\HU,VWDQEXO HCL Technologies Egypt Limited Not Applicable Subsidiary 8QLW1R±1RUWK7RZHU1LOH &LW\7RZHUVnd)ORRU5DPHOW%HDXODF Corniche El Nile, Cairo, Egypt +&/7HFKQRORJLHV6$ Not Applicable Subsidiary (GGL¿FLR$WULXP3LVR$Y9HQH]XHOD(O 5RVDO&DUDFXV9HQH]XHOD +&/7HFKQRORJLHV/X[HPERXUJ6DUO Not Applicable Subsidiary $YHQXHGHOD*DUH/*UDQG Duchy of Luxembourg +&/7HFKQRORJLHV%HLMLQJ&R/LPLWHG Not Applicable Subsidiary 5RRPWK)ORRU8QLW:DQJMLQJ /L]H(DVW*DUGHQ &KDR\DQJ'LVWULFW%HLMLQJ HCL Technologies (Thailand) Limited Not Applicable Subsidiary $,$&DSLWDO&HQWHU)5RRP 5DWFKDGDSLVHN5RDG.ZDHQJ 'LQGDHQJ.KHW'LQGDHQJ %DQJNRN7KDLODQG +&/7HFKQRORJLHV(VWRQLD28 Not Applicable Subsidiary 9lLNH.DUMD6DXQD7DOOLQQ +DUMX&RXQW\(VWRQLD

Annual Report 2019-20 84 S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG +&/7HFKQRORJLHV&]HFK5HSXEOLFVUR Not Applicable Subsidiary 3UDKD±1RYp0ČVWR.DWHĜLQVNi 36ý

PowerTeam, LLC Not Applicable Subsidiary :DVKLQJWRQ$YHQXH16XLWH 0LQQHDSROLV0LQQHVRWD86$

&RQFHSW6LOLFRQ6\VWHPV3ULYDWH/LPLWHG 8.$37& Subsidiary WK)ORRU2[IRUG+RXVH1R 5XVWDP%DJK%HKLQG0DQLSDO+RVSLWDO 0DLQ5RDG%DQJDORUH.$

+&/7UDLQLQJ 6WDI¿QJ6HUYLFHV 8'/37& Subsidiary Private Limited 6LGGKDUWK1HKUX3ODFH 1HZ'HOKL,QGLD

+&/0XVFDW7HFKQRORJLHV//& Not Applicable Subsidiary 32%R[3&.20 Sultanate of Oman

Point to Point Limited Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG

Point to Point Products Limited Not Applicable Subsidiary Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG

+&/7HFKQRORJLHV/LWKXDQLD8$% Not Applicable Subsidiary 9LOQLXV&LW\0XQLFLSDOLW\ 9LOQLXV&LW\-RJDLORV

HCL Technologies (Taiwan) Limited Not Applicable Subsidiary )1R6HF ;LQ\L5RDG;LQ\L'LVW7DLSHL

75 *HRPHWULF$PHULFDV,QF Not Applicable Subsidiary .LUWV%OYG6XLWH$7UR\ 0,86$

%XWOHU$PHULFD$HURVSDFH//& Not Applicable Subsidiary &HQWHUYLOOH5RDG6XLWH :LOPLQJWRQ'(86$ 5HJLVWHUHG2I¿FH3RWUHUR$YH 6XQQ\YDOH&DOLIRUQLD86$

77 +&/$VLD3DFL¿F3WH/LPLWHG Not Applicable Subsidiary 6KHQWRQ:D\$;$7RZHU 6LQJDSRUH

78 *HRPHWULF(XURSH*PE+ Not Applicable Subsidiary )UDQNIXUWHU5LQJ 0XQLFK*HUPDQ\

79 *HRPHWULF&KLQD,QF Not Applicable Subsidiary 5RRP1R%XLOGLQJ/DQH 6KHQJ;LD5RDG=KDQJMLDQJ+LJK7HFK Park, Pu Dong District, Shanghai

*HRPHWULF65/ Not Applicable Subsidiary 3DUFXO0LFEOVF$0H]]DQLQH %UDVRY5RPDQLD

85 Directors’ Report S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG *HRPHWULF6$6 Not Applicable Subsidiary $YHQXH'LGLHU'DXUDW%kWLPHQW 6RFUDWH)LUVW)ORRU%ODJQDF Cedex, Toulouse, France

HCL Technologies Corporate Services Not Applicable Subsidiary Limited Axon Centre, Church Road, Egham, 6XUUH\7:4%(QJODQG 8UEDQ)XO¿OPHQW6HUYLFHV//& Not Applicable Subsidiary /LWWOH)DOOV'ULYH:LOPLQJWRQ 'HODZDUH3ULQFLSDO2I¿FH /XFHQW%OYG6HFRQG)ORRU+LJKODQGV 5DQFK&2 Datawave (An HCL Technologies Not Applicable Subsidiary Company) Limited IRUPHO\NQRZQDV(7/)DFWRU\/LPLWHG &DOHGRQLDQ([FKDQJHD&DQQLQJ 6WUHHW(GLQEXUJK6FRWODQG(++( 85 7HOHU[0DUNHWLQJ,QF Not Applicable Subsidiary 'UHVKHU5RDG+RUVKDP3$ 0RQWJRPHU\86$ &L(XURSH(RRG Not Applicable Subsidiary %XVLQHVV3DUN6R¿D%XLOGLQJ HQWU%VWÀRRU5HSXEOLFRI%XOJDULD 87 &L6HUYLFHV 7HFKQRORJLHV 'DOLDQ &R Not Applicable Subsidiary Limited 8QLW1R+XL;LDQ

Annual Report 2019-20 86 S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG 95 + '7UDLQLQJXQG&RQVXOWLQJ*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ + ',73URIHVVLRQDO6HUYLFHV*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ 97 + ',7$XWRPRWLYH6HUYLFHV*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ 98 TPRLW*PE+ Not Applicable Subsidiary $XJXVW+RUFK6WU *LIKRUQ 99 + '6HUYLFHVIRU(QJLQHHULQJ*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ + ',QWHUQDWLRQDO*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ Hönigsberg & Düvel Corporation Not Applicable Subsidiary 8 East 7th Street &KDWWDQRRJD7HQQHVVHH86$ Hönigsberg & Düvel Datentechnik Czech Not Applicable Subsidiary VUR ýHVNREUDWUVNpQiPČVWt 0ODGi%ROHVODY&]HFK5HSXEOLF &$7,6*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ + ',7$6$SSOLFDWLRQ6HUYLFHV*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ + ',7$6&OLHQW6HUYLFHV*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ + ',7$66G*PE+ Not Applicable Subsidiary )ULHGULFK(EHUW6WU ,QJROVWDGW*HUPDQ\ + ',7$6,QIUDVWUXFWXUH6HUYLFHV*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ &$0DQDJHPHQW6HUYLFHV*PE+ Not Applicable Subsidiary -RKQ).HQQHG\$OOHH :ROIVEXUJ*HUPDQ\ +&/*XDWHPDOD6RFLHGDG$QyQLPD Not Applicable Subsidiary 'LDJRQDO=RQD(GL¿FLR ,QWHUDPHULFDV:RUOG)LQDQFLDO&HQWHU 7RUUH1RUWHQLYHO2¿FLQD&LXGDG GH*XDWHPDOD*XDWHPDOD +&/7HFKQRORJLHV%XOJDULD(22' Not Applicable Subsidiary %XVLQHVV3DUN6R¿D%XLOGLQJ (QWUDQFH%)ORRU 6R¿D%XOJDULD

87 Directors’ Report S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG +&/7HFKQRORJLHV$]HUEDLMDQ//& Not Applicable Subsidiary +RXVH1R3XVKNLQ6WUHHW $=%DNX&LW\1DVLPL'LVWULFW $]HUEDLMDQ HCL Technologies Trinidad and Tobago Not Applicable Subsidiary Limited 1RV6ZHHW%ULDU5RDG 6W&ODLU7ULQLGDG H C L Technologies Lanka (Private) Not Applicable Subsidiary Limited $OH[DQGUD3ODFH&RORPER3RVW &RGH6UL/DQND +&/7HFKQRORJLHV 9LHWQDP &RPSDQ\ Not Applicable Subsidiary Limited 5th)ORRU9,77RZHU1R.LP0D 6WUHHW1JRF.KDQK:DUG%D'LQK 'LVWULFW+D1RL&LW\9LHWQDP Sankalp Semiconductor Private Limited 8.$37& Subsidiary 3ORW1R6XUYH\1R$U\DEKDWWD7HFK 3DUN1DYDQDJDU+XEOL±,QGLD 6DQNJXM6HPLFRQGXFWRU3ULYDWH/LPLWHG 8*-37& Subsidiary $VKZDUDM%DQJORZV1HDU$XGD *DUGHQ3UDKODG1DJDU9HMDOSXU $KPHGDEDG±,QGLD 6DQNDOS6HPLFRQGXFWRU*PE+ Not Applicable Subsidiary 7KHRGRU+HXVV$OOHH )UDQNIXUWDP0DLQ*HUPDQ\ 6DQNDOS86$,QF Not Applicable Subsidiary (%D\VVKRUH5RDG6WH 3DOR$OWR&$86$ 6DQNDOS6HPLFRQGXFWRU,QF Not Applicable Subsidiary 6KDXJKQHVV\&UHVFHQW2WWDZD 2QWDULR&DQDGD..1 6DQNDOS6HPLFRQGXFWRU6GQ%KG Not Applicable Subsidiary WK)ORRU0HQDUD6\PSKRQ\1R-DODQ 3URI.KRR.D\.LP6HNV\HQ 3HWDOLQJ-D\D6HODQJRU0DOD\VLD +&/7HFKQRORJLHV6(3+ROGLQJV,QF Not Applicable Subsidiary /LWWOH)DOOV'ULYH:LOPLQJWRQ1HZ &DVWOH'(86$ $FWLDQ&RUSRUDWLRQ Not Applicable Subsidiary *HQJ5RDG6WH3DOR$OWR &DOLIRUQLD 5HJLVWHUHG2I¿FH7KH&RUSRUDWLRQ7UXVW &RPSDQ\2UDQJH6WUHHW:LOPLQJWRQ '(1HZ&DVWOH&RXQW\ 3HUYDVLYH6RIWZDUH,QF Not Applicable Subsidiary +HVWHUV&URVVLQJ5RDG6XLWH 5RXQG5RFN7; 5HJLVWHUHG2I¿FH7KH&RUSRUDWLRQ 7UXVW&RPSDQ\2UDQJH6WUHHW :LOPLQJWRQ'( New Castle County

Annual Report 2019-20 88 S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG $FWLDQ1HWKHUODQGV%9 Not Applicable Subsidiary $WULXP%XLOGLQJWKÀRRU6WUDZLQVN\ODDQ =;$PVWHUGDP The Netherlands $FWLDQ,QWHUQDWLRQDO,QF Not Applicable Subsidiary *HQJ5RDG6WH3DOR$OWR &DOLIRUQLD 5HJLVWHUHG2I¿FH7KH&RUSRUDWLRQ 7UXVW&RPSDQ\2UDQJH6WUHHW :LOPLQJWRQ'( New Castle County Actian Technology Private Limited 8.$37& Subsidiary VW)ORRU)D]DO0DQRU1R5LFKPRQG 5RDG%DQJDORUH.DUQDWDND±,QGLD $FWLDQ$XVWUDOLD3W\/LPLWHG Not Applicable Subsidiary 6XLWH3DFL¿F+Z\6W/HRQDUGV 16:$XVWUDOLD Actian Europe Limited Not Applicable Subsidiary $[RQ&HQWUH&KXUFK5G(JKDP7: 4%8QLWHG.LQJGRP 5HJLVWHUHG2I¿FH&DQQRQ3ODFH &DQQRQ6WUHHW/RQGRQ(&1$) $FWLDQ*HUPDQ\*PE+ Not Applicable Subsidiary +DOHQUHLH+DPEXUJ*HUPDQ\ Actian France Not Applicable Subsidiary DYHQXHGHO¶2SpUD±3DULV France 9HUVDQW6RIWZDUH//& Not Applicable Subsidiary *HQJ5RDG6WH3DOR$OWR &DOLIRUQLD86$ 9HUVDQW*PE+ Not Applicable Subsidiary +DOHQUHLH+DPEXUJ*HUPDQ\ 9HUVDQW,QGLD3ULYDWH/LPLWHG 83137& Subsidiary $QNXU6RFLHW\%KDQGDUNDU5RDG3XQH 0DKDUDVKWUD,QGLD Anzospan Investments Proprietary Limited Not Applicable Subsidiary *0,+RXVH+DUOHTXLQV2I¿FH3DUN 7RLWXV6WUHHW*URHQNORRI3UHWRULD South Africa CeleritiFintech Limited Not Applicable Subsidiary Axon Centre, Chruch Road, Egham, 6XUUH\7:4%(QJODQG &HOHULWL)LQ7HFK$XVWUDOLD3W\/LPLWHG Not Applicable Subsidiary &R0LWFKHOO 3DUWQHUV6XLWH/HYHO &ODUHQFH6WUHHW6\GQH\16: Australia

&HOHULWL)LQ7HFK86$,QF Not Applicable Subsidiary 2UDQJH6WUHHW:LOPLQJWRQ 'HODZDUH1HZ&DVWOH&RXQW\86$

StateStreet HCL Services (India) Private 8'/)7& Associate Limited 6LGGKDUWK1HKUX3ODFH1HZ 'HOKL,QGLD

89 Directors’ Report S. No. 1DPHDQG$GGUHVVRIWKH&RPSDQ\ &,1*/1 +ROGLQJ % of $SSOLFDEOH 6XEVLGLDU\ shares 6HFWLRQ $VVRFLDWH KHOG 6WDWH6WUHHW+&/+ROGLQJV 8. /LPLWHG Not Applicable Associate Axon Centre, Church Road, Egham, Surrey, 7:4%(QJODQG

State Street HCL Services Not Applicable Associate 3KLOLSSLQHV ,QF 6FLHQFH+XE7RZHU&DPSXV $YHQXH&RUQHU0LODQR6W0FNLQOH\+LOO &\EHUSDUN)RUW%RQLIDFLR7DJXLJ&LW\ Philippines

CeleritiFintech Services Limited Not Applicable Associate 1HZ.LQJV&RXUW7ROOJDWH&KDQGOHU¶V )RUG(DVWOHLJK+DPSVKLUH62/*

&HOHULWL)LQ7HFK6HUYLFHV86$,QF Not Applicable Associate 2UDQJH6WUHHW:LOPLQJWRQ 'HODZDUH&RXQW\RI1HZ&DVWOH 86$

&HOHULWL)LQ7HFK6HUYLFHV$XVWUDOLD3W\ Not Applicable Associate Limited &R0LWFKHOO 3DUWQHUV6XLWH/HYHO &ODUHQFH6WUHHW6\GQH\16: Australia

&HOHULWL)LQWHFK6HUYLFHV,WDO\65/ Not Applicable Associate 9LDOH)DPDJRVWD0LODQR 0, &$3 ,WDO\

&HOHULWL)LQWHFK6HUYLFHV*HUPDQ\*PE+ Not Applicable Associate )UDQNIXUWHU6WUDVVH' (6&+%251*HUPDQ\

CeleritiFintech Services India Private 8'/)7& Associate Limited 6LGGKDUWK1HKUX3ODFH1HZ 'HOKL,QGLD

HCL Technologies (Proprietary) Limited Not Applicable Associate )RUPHO\+&/$[RQ 3URSULHWDU\ /LPLWHG *0,+RXVH+DUOHTXLQV2I¿FH3DUN 7RWLXV6WUHHW*URHQNORRI3UHWRULD South Africa

HCL Technologies South Africa Not Applicable Associate (Proprietary) Limited *0,+RXVH+DUOHTXLQV2I¿FH3DUN 7RLWXV6WUHHW*URHQNORRI3UHWRULD South Africa

7KH&RPSDQ\GLUHFWO\RZQVHTXLW\VKDUHVRI6DQNDOS6HPLFRQGXFWRU3ULYDWH/LPLWHGDQGUHPDLQLQJHTXLW\VKDUHVDUHKHOGWKURXJK 6DQNDOS6WRFN7UXVWZKROO\FRQWUROOHGE\6DQNDOS6HPLFRQGXFWRU3ULYDWH/LPLWHG7KHVXEVLGLDULHVPHQWLRQHGDWVUQRWRDUHWKHGLUHFW VWHSGRZQZKROO\RZQHGVXEVLGLDULHVRI6DQNDOS6HPLFRQGXFWRU3ULYDWH/LPLWHG

Annual Report 2019-20 90 ,9 6+$5(+2/',1*3$77(51 (TXLW\6KDUH&DSLWDO%UHDNXSDVSHUFHQWDJHRI7RWDO(TXLW\

L &DWHJRU\ZLVH6KDUH+ROGLQJ

&DWHJRU\ 1DPHRIWKH 1RRIVKDUHVKHOGDWWKHEHJLQQLQJRIWKH\HDU 1RRIVKDUHVKHOGDWWKHHQGRIWKH\HDU FKDQJH 6KDUHKROGHUV >$VRQ$SULO@ >$VRQ0DUFK@ GXULQJWKH year , 'HPDW 3K\VLFDO Total 6KDUHKROGLQJ 'HPDW 3K\VLFDO Total 6KDUHKROGLQJ $3URPRWHUV ,QGLDQ (a) ,QGLYLGXDOV+LQGX8QGLYLGHG 788 788 )DPLO\ (b) &HQWUDO*RYHUQPHQW6WDWH *RYHUQPHQW V (c) )LQDQFLDO,QVWLWXWLRQV%DQNV (d) $Q\2WKHU VSHFLI\ (i) %RG\&RUSRUDWHV (ii) Trust 6XE7RWDO $ - - Foreign (a) ,QGLYLGXDOV 1RQ5HVLGHQW ,QGLYLGXDOV)RUHLJQ,QGLYLGXDOV (b) *RYHUQPHQW (c) Institutions (d) )RUHLJQ3RUWIROLR,QYHVWRU (e) $Q\2WKHU VSHFLI\ (i) %RGLHV&RUSRUDWH 6XE7RWDO $ - - 7RWDO6KDUHKROGLQJRI3URPRWHUDQG - - 3URPRWHU*URXS $ $ $ %3XEOLF6KDUHKROGLQJ Institutions - (a) 0XWXDO)XQGV (b) 9HQWXUH&DSLWDO)XQGV (c) $OWHUQDWH,QYHVWPHQW)XQGV (d) )RUHLJQ9HQWXUH&DSLWDO,QYHVWRUV (e) )RUHLJQ3RUWIROLR,QYHVWRUV (f) )LQDQFLDO,QVWLWXWLRQV%DQNV (g) ,QVXUDQFH&RPSDQLHV (h) 3URYLGHQW)XQGV3HQVLRQ)XQGV (i) $Q\2WKHU VSHFLI\ )RUHLJQ%DQNV 6XE7RWDO % &HQWUDO*RYHUQPHQW6WDWH - - *RYHUQPHQW V 3UHVLGHQWRI,QGLD 6XE7RWDO % - - Non-institutions ,QGLYLGXDOV (a) L,QGLYLGXDOVKDUHKROGHUV KROGLQJQRPLQDOVKDUH FDSLWDOXSWR`ODNKV LL,QGLYLGXDOVKDUHKROGHUV KROGLQJQRPLQDOVKDUHFDSLWDO LQH[FHVVRI`ODNKV (b) 1%)&VUHJLVWHUHGZLWK5%, (c) (PSOR\HH7UXVWV (d) 2YHUVHDV'HSRVLWRULHV KROGLQJ'5V EDODQFLQJ¿JXUH (e) $Q\2WKHU VSHFLI\ (i) IEPF (ii) %RGLHV&RUSRUDWH (iii) Trusts (iv) Trust Employees (v) Foreign Nationals (vi) 1RQ5HVLGHQW,QGLDQV (vii) 2YHUVHDV&RUSRUDWH%RGLHV (viii) &OHDULQJ0HPEHUV (ix) +LQGX8QGLYLGHG)DPLOLHV 6XE7RWDO % 7RWDO3XEOLF6KDUHKROGLQJ % % % % *UDQG7RWDO $ % 1RWH7KH&RPSDQ\RQ'HFHPEHUDOORWWHGHTXLW\VKDUHVDVERQXVVKDUHVRI৷HDFKIXOO\SDLGXSLQWKHSURSRUWLRQRIHTXLW\ VKDUHIRUHYHU\HTXLW\VKDUHRI৷HDFKKHOGE\WKHHTXLW\VKDUHKROGHUVRIWKH&RPSDQ\ 91 Directors’ Report LL 6KDUHKROGLQJRI3URPRWHU

6KDUHKROGLQJDWWKHEHJLQQLQJRIWKH\HDU 6KDUHKROGLQJDWWKHHQGRIWKH\HDU $SULO 0DUFK FKDQJH S. % of Shares % of Shares in share- No. 6KDUHKROGHU¶V1DPH % of total % of total KROGLQJ Shares of 3OHGJHG Shares of 3OHGJHG No. of Shares No. of Shares GXULQJWKH the HQFXPEHUHG the HQFXPEHUHG to total to total year FRPSDQ\ shares FRPSDQ\ shares

0U6KLY1DGDU 0V.LUDQ1DGDU 0V5RVKQL1DGDU 0DOKRWUD 9DPD6XQGDUL Investments (Delhi) Private Limited HCL Corporation 5 Private Limited HCL Holdings Private /LPLWHG HCL Avitas Private 7 Limited Total - - 7KLVLVDQ2YHUVHDV&RUSRUDWH%RG\ 1RWH7KH&RPSDQ\RQ'HFHPEHUKDVDOORWWHGHTXLW\VKDUHVDVERQXVVKDUHVRI৷HDFKIXOO\SDLGXSLQWKHSURSRUWLRQRIHTXLW\ VKDUHIRUHYHU\HTXLW\VKDUHRI৷HDFKKHOGE\WKHHTXLW\VKDUHKROGHUVRIWKH&RPSDQ\

LLL &KDQJHLQ3URPRWHUV¶6KDUHKROGLQJ SOHDVHVSHFLI\LIWKHUHLVQRFKDQJH &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Dates 6KDUHKROGHU¶V1DPH % of total Shares of % of total Shares of No. of Shares No. of Shares WKHFRPSDQ\ WKHFRPSDQ\ 9DPD6XQGDUL,QYHVWPHQWV 'HOKL 3ULYDWH/LPLWHG $SU At the beginning of the year 'HF %RQXV,VVXH 0DU 0DUNHW3XUFKDVH 0DU 0DUNHW3XUFKDVH 0DU 0DUNHW3XUFKDVH 0DU At the end of the year +&/&RUSRUDWLRQ3ULYDWH/LPLWHG $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year +&/+ROGLQJV3ULYDWH/LPLWHG $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year 0U6KLY1DGDU $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year

Annual Report 2019-20 92 &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Dates 6KDUHKROGHU¶V1DPH % of total Shares of % of total Shares of No. of Shares No. of Shares WKHFRPSDQ\ WKHFRPSDQ\ 0V.LUDQ1DGDU $SU At the beginning of the year 'HF %RQXV,VVXH 6KDUHVDFTXLUHGSXUVXDQWWR:LOO GDWHG-XQHH[HFXWHGE\ )HE ODWH0UV0RKLQL7DQGDQPRWKHURI 0UV.LUDQ1DGDU 6KDUHVDFTXLUHGSXUVXDQWWR:LOO GDWHG-XQHH[HFXWHGE\ )HE ODWH0UV0RKLQL7DQGDQPRWKHURI 0UV.LUDQ1DGDU 0DU At the end of the year 0V5RVKQL1DGDU0DOKRWUD $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year +&/$YLWDV3ULYDWH/LPLWHG $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year

LY 6KDUHKROGLQJ3DWWHUQRIWRSWHQ6KDUHKROGHUV 2WKHUWKDQ'LUHFWRUV3URPRWHUVDQG+ROGHUVRI*'5VDQG$'5V 6KDUHKROGLQJDWWKHEHJLQQLQJ &XPXODWLYH6KDUHKROGLQJGXULQJWKH of the year year S. )RU(DFKRIWKH7RS % of total No. 6KDUHKROGHUV % of total shares No. of shares shares of the No. of shares RIWKHFRPSDQ\ FRPSDQ\ At the beginning of the year Date wise Increase / Decrease in Shareholding during the year specifying WKHUHDVRQVIRULQFUHDVHGHFUHDVH HJ DOORWPHQWWUDQVIHUERQXVVZHDWHTXLW\ 5HIHU$QQH[XUH$ HWF At the end of the year (or on the date of separation, if separated during the year)

1RWH7KH&RPSDQ\KDVQRWLVVXHGDQ\*OREDO'HSRVLWRU\5HFHLSWV *'5V $PHULFDQ'HSRVLWRU\5HFHLSWV $'5V

Y 6KDUHKROGLQJRI'LUHFWRUVDQG.H\0DQDJHULDO3HUVRQQHO 6KDUHKROGLQJDWWKHEHJLQQLQJRI &XPXODWLYH6KDUHKROGLQJGXULQJ the year the year Dates 6KDUHKROGHU¶V1DPH % of total Shares % of total Shares No. of Shares No. of Shares RIWKHFRPSDQ\ RIWKHFRPSDQ\ 0U6KLY1DGDU0DQDJLQJ'LUHFWRU $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year 0V5RVKQL1DGDU0DOKRWUD $SU At the beginning of the year 'HF %RQXV,VVXH 0DU At the end of the year

93 Directors’ Report 6KDUHKROGLQJDWWKHEHJLQQLQJRI &XPXODWLYH6KDUHKROGLQJGXULQJ the year the year Dates 6KDUHKROGHU¶V1DPH % of total Shares % of total Shares No. of Shares No. of Shares RIWKHFRPSDQ\ RIWKHFRPSDQ\ 0U&9LMD\DNXPDU3UHVLGHQW &(2 $SU At the beginning of the year 'HF %RQXV,VVXH

0DU At the end of the year

0U3UDWHHN$JJDUZDO&)2

$SU At the beginning of the year

'HF %RQXV,VVXH 988

0DU At the end of the year 988 988

0U60DGKDYDQ'LUHFWRU

$SU At the beginning of the year

'HF %RQXV,VVXH

0DU At the end of the year

0DQLVK$QDQG&6

$SU At the beginning of the year

'HF %RQXV,VVXH

0DU At the end of the year

9 ,1'(%7('1(66 ,QGHEWHGQHVVRIWKH&RPSDQ\LQFOXGLQJLQWHUHVWRXWVWDQGLQJDFFUXHGEXWQRWGXHIRUSD\PHQW

৷LQFURUH Total 6HFXUHG/RDQV 8QVHFXUHG Deposits H[FOXGLQJGHSRVLWV Loans ,QGHEWHGQHVV ,QGHEWHGQHVVDWWKHEHJLQQLQJRIWKH¿QDQFLDO\HDU i) Principal Amount ii) Interest due but not paid iii) Interest accrued but not due 7RWDO LLLLLL -- &KDQJHLQ,QGHEWHGQHVVGXULQJWKH¿QDQFLDO\HDU $GGLWLRQ 5HGXFWLRQ Net Change - - ,QGHEWHGQHVVDWWKHHQGRIWKH¿QDQFLDO\HDU i) Principal Amount ii) Interest due but not paid iii) Interest accrued but not due 7RWDO LLLLLL -

Notes: 7KH&RPSDQ\KDVDYDLOHGWHUPORDQVRI৷FURUH 3UHYLRXV\HDU৷FURUH VHFXUHGE\K\SRWKHFDWLRQRIJURVVEORFNRI YHKLFOHV $QXQVHFXUHGORQJWHUPORDQRI৷FURUH 3UHYLRXV\HDU1,/ KDVEHHQERUURZHGIURPEDQNV

Annual Report 2019-20 94 9, 5(081(5$7,212)',5(&7256$1'.(<0$1$*(5,$/3(56211(/

$ 5HPXQHUDWLRQWR0DQDJLQJ'LUHFWRU:KROHWLPH'LUHFWRUVDQGRU0DQDJHU ৷LQFURUH

S. 1DPHRI0':7'0DQDJHU Total No. 3DUWLFXODUVRI5HPXQHUDWLRQ $PRXQW 6KLY1DGDU *URVVVDODU\ D 6DODU\DVSHUSURYLVLRQVFRQWDLQHGLQVHFWLRQ RIWKH ,QFRPHWD[$FW E 9DOXHRISHUTXLVLWHVXV ,QFRPHWD[$FW F 3UR¿WVLQOLHXRIVDODU\XQGHUVHFWLRQ ,QFRPHWD[$FW Stock Option 6ZHDW(TXLW\ Commission DVRISUR¿W RWKHUVVSHFLI\« 5 Others, please specify 3URYLGHQW)XQG 0HGLFDO *UDWXLW\ 0LVF5HLPEXUVHPHQW 7RWDO $ &HLOLQJDVSHUWKH$FW RIQHWSUR¿WVRIWKH&RPSDQ\FDOFXODWHGXQGHUVHFWLRQRIWKH&RPSDQLHV$FW Note: ,QDGGLWLRQ0U6KLY1DGDUUHFHLYHGVDODU\DQGSHUTXLVLWHVDPRXQWLQJWR86'PLOOLRQ HTXLYDOHQWWR৷FURUH IURP+&/$PHULFD,QFDZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\

% 5(081(5$7,217227+(5',5(&7256 ৷LQFURUH Sitting Fee for 2WKHUVSOHDVH S. No. 3DUWLFXODUVRI5HPXQHUDWLRQ DWWHQGLQJERDUG &RPPLVVLRQ 7RWDO$PRXQW VSHFLI\ FRPPLWWHHPHHWLQJV ,QGHSHQGHQW'LUHFWRUV 0U'HHSDN.DSRRU 0U-DPHV3KLOLS$GDPF]\N 0U60DGKDYDQ 'U0RKDQ&KHOODSSD 0V1LVKL9DVXGHYD 1 0V5RELQ$QQ$EUDPV 'U6RVDOH6KDQNDUD6DVWU\ 0U56ULQLYDVDQ 0U6LPRQ-RKQ(QJODQG 0U7KRPDV6LHEHU 7RWDO - 2WKHU1RQ([HFXWLYH'LUHFWRUV 0V5RVKQL1DGDU0DOKRWUD 0U6KLNKDU1HHONDPDO0DOKRWUD 7RWDO - 7RWDO % - 2YHUDOO&HLOLQJDVSHUWKH$FW RIQHWSUR¿WVRIWKH&RPSDQ\FDOFXODWHGXQGHUVHFWLRQRIWKH &RPSDQLHV$FW 7RWDO0DQDJHULDO5HPXQHUDWLRQ $%

Notes: 0U-DPHV3KLOLS$GDPF]\NFHDVHGWREHWKH'LUHFWRURIWKH&RPSDQ\ZHI2FWREHUGXHWRKLVGHPLVH 'U0RKDQ&KHOODSSDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI$XJXVW 0U6LPRQ-RKQ(QJODQGZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI-DQXDU\ 0U6KLNKDU1HHONDPDO0DOKRWUDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH1RQ,QGHSHQGHQW'LUHFWRU ZHI2FWREHU

95 Directors’ Report & 5(081(5$7,2172.(<0$1$*(5,$/3(56211(/27+(57+$10'0$1$*(5:7' ৷LQFURUH

.H\0DQDJHULDO3HUVRQQHO 0U& 0U3UDWHHN S. 0U0DQLVK 9LMD\DNXPDU $JJDUZDO 3DUWLFXODUVRI5HPXQHUDWLRQ $QDQG No. Chief Chief Total &RPSDQ\ ([HFXWLYH )LQDQFLDO 6HFUHWDU\ 2I¿FHU 2I¿FHU *URVVVDODU\ (a) Salary as per provisions contained in section RIWKH,QFRPHWD[$FW E 9DOXHRISHUTXLVLWHVXV ,QFRPHWD[$FW F 3UR¿WVLQOLHXRIVDODU\XQGHUVHFWLRQ ,QFRPHWD[$FW Stock Option 6ZHDW(TXLW\ Commission DVRISUR¿W - RWKHUVVSHFLI\« 5 Others, please specify Total -

Notes: 7KHUHPXQHUDWLRQSDLGWRWKH.H\0DQDJHULDO3HUVRQQHOLQFOXGHV/RQJ7HUP,QFHQWLYHZKLFKZDVGLVEXUVHGE\WKH&RPSDQ\GXULQJWKH ¿QDQFLDO\HDU 0U&9LMD\DNXPDULVQRWJHWWLQJDQ\UHPXQHUDWLRQIURPWKH&RPSDQ\KRZHYHUKHKDVUHFHLYHG86'PLOOLRQ HTXLYDOHQWWR৷ FURUH DVUHPXQHUDWLRQIURP+&/$PHULFD,QFDZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ 0U3UDWHHN$JJDUZDODSDUWIURPUHFHLYLQJUHPXQHUDWLRQIURPWKH&RPSDQ\DOVRUHFHLYHG86'PLOOLRQ HTXLYDOHQWWR৷FURUH DV UHPXQHUDWLRQIURP+&/$PHULFD,QFDZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\ 9,,3(1$/7,(6381,6+0(17&203281',1*2)2))(1&(6 Details of 6HFWLRQRIWKH 3HQDOW\ Authority $SSHDOPDGH Brief Type &RPSDQLHV 3XQLVKPHQW >5'1&/7 LIDQ\ JLYH 'HVFULSWLRQ $FW &RPSRXQGLQJ &2857@ 'HWDLOV IHHVLPSRVHG A. &203$1< Penalty Punishment NIL Compounding B. DIRECTORS Penalty Punishment NIL Compounding C. OTHER OFFICERS IN DEFAULT Penalty Punishment NIL Compounding

)RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUV

6+,91$'$5 &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU Place: New Delhi, India 'DWH0D\

Annual Report 2019-20 96 $QQH[XUH$WRWKH'LUHFWRUV¶5HSRUW

6KDUHKROGLQJ3DWWHUQRI7RS7HQ6KDUHKROGHUV 2WKHUWKDQ'LUHFWRUV3URPRWHUVDQG+ROGHUVRI*'5VDQG$'5V &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Date 6DOH3XUFKDVH % of total shares % of total shares of No. of shares No. of shares RIWKH&RPSDQ\ WKH&RPSDQ\ 6%,(7)1,)7< $SULO Opening $SULO Purchase $SULO Purchase $SULO Purchase $SULO Purchase 0D\ Purchase 0D\ Sale 0D\ Purchase 0D\ Purchase 0D\ Purchase -XQH Purchase -XQH Purchase -XQH Purchase -XQH Purchase -XO\ Purchase -XO\ Purchase -XO\ Purchase -XO\ Purchase $XJ Purchase $XJ Sale $XJ Sale $XJ Purchase $XJ Purchase 6HS Purchase 6HS Purchase 6HS Purchase 6HS Sale 6HS Purchase 2FW Purchase 2FW Sale 1RY Purchase 1RY Purchase 1RY Purchase 1RY Purchase 1RY Purchase 'HF Purchase 'HF Purchase 'HF %RQXV&UHGLW 'HF Sale 'HF Purchase

97 Directors’ Report &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Date 6DOH3XUFKDVH % of total shares % of total shares of No. of shares No. of shares RIWKH&RPSDQ\ WKH&RPSDQ\ -DQ Purchase -DQ Purchase -DQ Purchase -DQ Purchase -DQ Purchase )HE Purchase )HE Purchase )HE Purchase )HE Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Closing

$57,6$1,17(51$7,21$/9$/8()81' $SU Opening $SULO Sale 1RY Sale 'HF %RQXV&UHGLW 0DU Purchase 0DU Sale 0DU Closing

ICICI PRUDENTIAL LIFE INSURANCE $SU Opening $SULO Sale $SULO Sale $SULO Sale $SULO Sale 0D\ Sale 0D\ Sale 0D\ Sale 0D\ Sale 0D\ Sale -XQH Sale -XQH Sale $XJ Purchase $XJ Purchase 6HS Purchase 6HS Purchase 6HS Purchase 6HS Purchase

Annual Report 2019-20 98 &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Date 6DOH3XUFKDVH % of total shares % of total shares of No. of shares No. of shares RIWKH&RPSDQ\ WKH&RPSDQ\ 2FW Purchase 2FW Purchase 1RY Purchase 1RY Purchase 1RY Purchase 1RY Purchase 'HF Purchase 'HF Purchase 'HF %RQXV&UHGLW 'HF Purchase -DQ Purchase -DQ Purchase -DQ Purchase )HE Purchase )HE Purchase )HE Purchase )HE Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Closing

,&,&,358'(17,$/9$/8(',6&29(5<)81' $SU Opening $SULO Sale $SULO Sale $SULO Sale $SULO Sale 0D\ Sale 0D\ Purchase 0D\ Purchase 0D\ Purchase 0D\ Purchase -XQH Purchase -XQH Sale -XQH Purchase -XQH Purchase -XO\ Purchase -XO\ Purchase -XO\ Purchase -XO\ Sale $XJ Purchase

99 Directors’ Report &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Date 6DOH3XUFKDVH % of total shares % of total shares of No. of shares No. of shares RIWKH&RPSDQ\ WKH&RPSDQ\ $XJ Sale $XJ Purchase $XJ Purchase $XJ Purchase 6HS Purchase 6HS Purchase 6HS Purchase 6HS Purchase 6HS Purchase 2FW Purchase 2FW Sale 1RY Sale 1RY Sale 1RY Sale 1RY Purchase 1RY Purchase 'HF Sale 'HF Purchase 'HF %RQXV&UHGLW 'HF Sale 'HF Purchase -DQ Purchase -DQ Sale -DQ Sale -DQ Sale -DQ Sale )HE Purchase )HE Sale )HE Sale )HE Purchase 0DU Purchase 0DU Sale 0DU Purchase 0DU Sale 0DU Sale 0DU Closing

9,578692172%(/(0(5*,1*0$5.(7623325781,7,(6)81' $SU Opening $SULO Sale -XO\ Sale $XJ Purchase $XJ Purchase $XJ Purchase

Annual Report 2019-20 100 &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Date 6DOH3XUFKDVH % of total shares % of total shares of No. of shares No. of shares RIWKH&RPSDQ\ WKH&RPSDQ\ 6HS Purchase 2FW Purchase 1RY Purchase 1RY Purchase 1RY Purchase 'HF %RQXV&UHGLW 'HF Sale )HE Sale 0DU Sale 0DU Sale 0DU Sale 0DU Sale 0DU Closing

9$1*8$5'727$/,17(51$7,21$/672&.,1'(;)81' $SU Opening $SULO Purchase $SULO Purchase $SULO Sale 0D\ Purchase 0D\ Purchase 0D\ Purchase -XQH Purchase -XO\ Purchase $XJ Purchase $XJ Purchase 6HS Purchase 'HF Purchase 'HF %RQXV&UHGLW -DQ Purchase -DQ Purchase -DQ Purchase )HE Purchase )HE Purchase )HE Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Purchase 0DU Closing

12085$,1',$,19(670(17)81'027+(5)81' $SU Opening $SULO Purchase

101 Directors’ Report &XPXODWLYH6KDUHKROGLQJ 6KDUHKROGLQJ GXULQJWKH\HDU Date 6DOH3XUFKDVH % of total shares % of total shares of No. of shares No. of shares RIWKH&RPSDQ\ WKH&RPSDQ\ $SULO Purchase 0D\ Purchase -XQH Sale -XQH Sale $XJ Sale $XJ Sale 2FW Sale 2FW Sale 'HF %RQXV&UHGLW 0DU Purchase 0DU Closing

$',7<$%,5/$681/,)(75867((35,9$7(/,0,7('$& ADITYA BIRLA SUN LIFE FRONTLINE EQUITY FUND $SU Opening $SULO Sale $SULO Sale 0D\ Purchase 0D\ Sale 0D\ Purchase 0D\ Purchase -XQH Sale -XQH Sale -XQH Sale -XO\ Sale -XO\ Sale -XO\ Purchase -XO\ Purchase $XJ Purchase $XJ Sale $XJ Purchase 6HS Purchase 6HS Purchase 6HS Purchase 6HS Sale 2FW Purchase 2FW Purchase 1RY Sale 1RY Sale 1RY Sale 'HF Sale 'HF %RQXV&UHGLW 'HF Sale -DQ Sale -DQ Sale -DQ Purchase -DQ Sale

Annual Report 2019-20 102 -DQ Sale )HE Sale )HE Sale )HE Sale 0DU Sale 0DU Sale 0DU Purchase 0DU Sale 0DU Purchase 0DU Closing

52%(&2&$3,7$/*52:7+)81'6 $SU Opening $SULO Sale 0D\ Sale 0D\ Purchase -XQH Purchase -XQH Sale (5,775) -XQH Sale $XJ Sale $XJ Sale 6HS Sale 6HS Sale 6HS Sale 2FW Sale (85,589) 1RY Purchase 1RY Purchase 'HF Sale 'HF Purchase 'HF %RQXV&UHGLW 'HF Purchase -DQ Sale -DQ Purchase -DQ Sale )HE Sale )HE Purchase 0DU Sale 0DU Purchase 0DU Sale 0DU Sale 0DU Closing

,&,&,358'(17,$//,)(,1685$1&(&203$1

103 Directors’ Report 0D\ Sale -XQH Sale -XQH Sale -XQH Sale -XQH Sale -XO\ Purchase -XO\ Sale -XO\ Sale -XO\ Sale $XJ Sale $XJ Sale $XJ Sale $XJ Sale $XJ Sale 6HS Sale 6HS Purchase 6HS Sale 6HS Sale 2FW Sale 2FW Sale 1RY Sale 1RY Sale 1RY Sale 1RY Sale 1RY Sale 'HF Purchase 'HF Sale 'HF %RQXV&UHGLW 'HF Purchase 'HF Sale -DQ Purchase -DQ Purchase -DQ Purchase -DQ Purchase -DQ Purchase )HE Purchase )HE Sale )HE Purchase )HE Purchase 0DU Purchase 0DU Sale 0DU Sale 0DU Purchase 0DU Purchase 0DU Closing

Notes:

7KHGHWDLOVRIKROGLQJKDVEHHQFOXEEHGEDVHGRQWKHEDVLVRI3$1

RIWRWDOVKDUHVRIWKH&RPSDQ\LVEDVHGRQWKHSDLGXSFDSLWDORIWKH&RPSDQ\FKDQJHGIURPWLPHWRWLPHGXULQJWKH¿QDQFLDO\HDU

6LQFHWKHVKDUHVRIWKH&RPSDQ\DUHWUDGHGRQDGDLO\EDVLVWKHGDWHVRIDERYHVDOHSXUFKDVHKDYHEHHQGHULYHGIURPWKH%HQH¿FLDU\SRVLWLRQ VWDWHPHQWVUHFHLYHGIURP'HSRVLWRULHVSHULRGLFDOO\

Annual Report 2019-20 104 $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW )25012$2& 3XUVXDQWWRFODXVH K RIVXEVHFWLRQ RI6HFWLRQRIWKH&RPSDQLHV$FWDQG5XOH RIWKH &RPSDQLHV $FFRXQWV 5XOHV

)RUPIRUGLVFORVXUHRISDUWLFXODUVRIFRQWUDFWVDUUDQJHPHQWVHQWHUHGLQWRE\WKH&RPSDQ\ZLWKUHODWHGSDUWLHVUHIHUUHGWR LQVXEVHFWLRQ RI6HFWLRQRIWKH&RPSDQLHV$FWLQFOXGLQJFHUWDLQDUP¶VOHQJWKWUDQVDFWLRQVXQGHUWKLUGSURYLVR thereto.

'HWDLOVRIFRQWUDFWVRUDUUDQJHPHQWVRUWUDQVDFWLRQVQRWDWDUP¶VOHQJWKEDVLV

'XULQJWKH¿QDQFLDO\HDUHQGHG0DUFK+&/7HFKQRORJLHV/LPLWHG µ+&/7¶ KDVQRWHQWHUHGLQWRDQ\FRQWUDFWRUDUUDQJHPHQW RUWUDQVDFWLRQZLWKLWVUHODWHGSDUWLHVZKLFKLVQRWDWDUP¶VOHQJWK

'HWDLOVRIPDWHULDOFRQWUDFWVRUDUUDQJHPHQWRUWUDQVDFWLRQVDWDUP¶VOHQJWKEDVLV

a) Name(s) of the related party and nature of relationship

+&/$PHULFD,QF µ+&/$¶ DZKROO\RZQHGVWHSGRZQVXEVLGLDU\RIWKH&RPSDQ\LQWKH8QLWHG6WDWHVRI$PHULFD

b) Nature of contracts/arrangements/transactions

5HQGHULQJREWDLQLQJRIVHUYLFHVSURGXFWVDOHVDQGRWKHUPLVFHOODQHRXVLQFRPH

c) Duration of the contracts / arrangements / transactions

Ongoing

d) Salient terms of the contracts or arrangements or transactions including the value, if any:

HCLT shall (i) provide IT / ITES services to the existing and new clients of HCLA including various support and general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൘FURUH

e) 'DWH V RIDSSURYDOE\WKH%RDUGLIDQ\

1RWDSSOLFDEOHVLQFHWKHFRQWUDFWZDVHQWHUHGLQWRLQWKHRUGLQDU\FRXUVHRIEXVLQHVVDQGRQDUP¶VOHQJWKEDVLV

f) Amount paid as advances, if any:

Nil

)RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUV

6+,91$'$5 &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU

Place: New Delhi, India 'DWH0D\

105 Directors’ Report ൘FURUH ൘FURUH 1RW$SSOLFDEOH ൘FURUH $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV $118$/5(325721&25325$7(62&,$/5(63216,%,/,7< &65 $&7,9,7,(6 F 0DQQHULQZKLFKWKHDPRXQWVSHQWGXULQJWKH¿QDQFLDO\HDULVGHWDLOHGEHORZ E $PRXQWXQVSHQWLIDQ\ D 7RWDODPRXQWWREHVSHQWIRUWKH¿QDQFLDO\HDU &65&RPPLWWHHFRPSULVHVRI0V5RVKQL1DGDU0DOKRWUD &KDLUSHUV RQ 0U6KLY1DGDUDQG0U60DGKDYDQ SROLF\DQGSURMHFWVRUSURJUDPV 7KHREMHFWLYHRIWKH&65SROLF\ ³3ROLF\´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of the Policy are on website Company at 3UHVFULEHG&65([SHQGLWXUH WZRSHUFHQWRIWKHDPRXQWDVLQLWHPDERYH 'HWDLOVRI&65VSHQWGXULQJWKH¿QDQFLDO\HDU 7KHFRPSRVLWLRQRIWKH&65&RPPLWWHH $YHUDJHQHWSUR¿WRIWKH&RPSDQ\IRUODVWWKUHH¿QDQFLDO\HDUV $EULHIRXWOLQHRIWKH&RPSDQ\¶V&65SROLF\LQFOXGLQJRYHUYLHZRISURMHFWVRUSURJUDPVSURSRVHGWREHXQGHUWDNHQDQGDUHIHUHQFHWRWKHZHEOLQNWRWKH&65

Annual Report 2019-20 106 Agency Agency Agency $JHQF\ Through Through Through $PRXQW or through VSHQW'LUHFW Implementing Implementing Implementing ,PSOHPHQWLQJ SHULRG upto the reporting ൘FURUH &XPXODWLYH H[SHQGLWXUH ൘FURUH 2YHUKHDGV WKHSURMHFWVRU SURJUDPVVXE H[SHQGLWXUH KHDGV 'LUHFW $PRXQWVSHQWRQ wise outlay $PRXQW EXGJHW SURJUDP ൘FURUH SURMHFWRU ZDVXQGHUWDNHQ DQGGLVWULFWZKHUH VSHFLI\WKHVWDWH SURMHFWVRUSURJUDPV 3URMHFWVRU3URJUDPV /RFDODUHDRURWKHU Lucknow, Nagpur, Nagpur, Lucknow, Noida, Hyderabad, %DQJDORUH3XQH &KHQQDLDQG9LMD\DZDGD Coimbatore, Noida, &KHQQDL0DGXUDL %DQJDORUH9LMD\DZDGD Hyderabad, Lucknow, .RFKL1DJSXU 0DKDUDVKWUD-KDUNKDQG 83.RONDWD%LKDU 5DMDVWKDQ:HVW%HQJDO 3XQH+D]DULEDJK:HVW 6LQJKDPDQG*XMDUDW Noida, Lucknow, Chennai, Himachal Pradesh, Hyderabad, 1DJDODQG0DGXUDL 9LMD\DZDGD3DOL %DQJDORUH$UXQDFKDO Pradesh and Srinagar Livelihood Enhancement Programme ,PSURYLQJWKH4XDOLW\ of Education Health care and 0HGLFDO)DFLOLWLHV &653URMHFW1*23DUWQHU'LUHFW,PSOHPHQWDWLRQ 6HFWRU $DZDKDQ7KH1HZ9RLFH$URKD0XOWLSXUSRVH6RFLHW\ %RRNVIRU$OO7UXVW%ULJKW/LJKW6RFLHW\%X]],QGLD7UXVW Youth Centre for Sustainable Development, Activities, EFRAH, Emmanuel Hospital Development and Association, Entrepreneurship Development Institute of India, +HDG+HOG+LJK)RXQGDWLRQ,&UHDWH,QGLD,QGLD9LVLRQ )RXQGDWLRQ,QWHJUDWHG3URMHFWIRU'HYHORSPHQWRI3HRSOH /DERXU(GXFDWLRQDQG5HVHDUFK1HWZRUN0DJLF%XV,QGLD )RXQGDWLRQ0RQ$PL)RXQGDWLRQ1DWLRQDO,QVWLWXWHRI :RPHQ&KLOGDQG

107 Directors’ Report Agency Agency Agency Agency Agency Agency Agency Agency Agency, Agency, $JHQF\ Through Through Through Through Through Through Through Through Through $PRXQW Foundation Foundation or through VSHQW'LUHFW Through HCL Through HCL Through HCL Through HCL Implementing Implementing Implementing Implementing Implementing Implementing Implementing Implementing Implementing ,PSOHPHQWLQJ SHULRG upto the reporting ൘FURUH &XPXODWLYH H[SHQGLWXUH ൘FURUH 2YHUKHDGV WKHSURMHFWVRU SURJUDPVVXE H[SHQGLWXUH KHDGV 'LUHFW $PRXQWVSHQWRQ wise outlay $PRXQW EXGJHW SURJUDP ൘FURUH SURMHFWRU ZDVXQGHUWDNHQ DQGGLVWULFWZKHUH VSHFLI\WKHVWDWH SURMHFWVRUSURJUDPV 3URMHFWVRU3URJUDPV /RFDODUHDRURWKHU Noida, Chennai, %DQJDORUH0DGXUDL .DUDXOLDQG5DMDVWKDQ .HUDOD$VVDPDQG%LKDU Pan India +DUGRL 8WWDU3UDGHVK 1RLGDDQG%DQJDORUH 0DGXUDL&KHQQDL1RLGD Chennai Noida, Lucknow, &KHQQDL%DQJDORUH %DQJDORUH&KHQQDL 0DGXUDL1RLGDDQG Lucknow Lucknow 6HFWRU Environment Protection Disaster Relief 5HKDELOLWDWLRQ3URMHFW Environment 3URWHFWLRQ'LVDVWHU Relief Rehabilitation 3URMHFW Rural Development 3URPRWLQJ*HQGHU (TXDOLW\ :DWHU6DQLWDWLRQDQG Hygiene ,PSURYLQJWKH4XDOLW\ RI(GXFDWLRQ+HDOWK &DUHDQG0HGLFDO Facilities Health Care and 0HGLFDO)DFLOLWLHV 3URPRWLQJ*HQGHU (TXDOLW\ Improving the 4XDOLW\RI(GXFDWLRQ and Livelihood Enhancement ,PSURYLQJWKH4XDOLW\ RI(GXFDWLRQ:DWHU Sanitation and Hygiene &653URMHFW1*23DUWQHU'LUHFW,PSOHPHQWDWLRQ Caritas India, Humanitarian Aid International and Sphere Caritas India, Humanitarian India Care India Solutions for Sustainable Development and :LOGOLIH7UXVW2I,QGLD $FWLRQ$LG$VVRFLDWLRQ$URK)RXQGDWLRQ%OXH&URVVRI,QGLD &RPSDVVLRQ8QOLPLWHG3OXV$FWLRQ'HYHORSPHQWRI+XPDQH Action Foundation (DHAN), Environmentalist of ,QGLD)ULHQGLFRHV6(&$*LYH0H7UHHV7UXVW*RUDNKSXU (QYLURQPHQWDO$FWLRQ*URXS*UHHQ

Annual Report 2019-20 108 $JHQF\ $PRXQW Foundation Foundation Foundation Foundation or through VSHQW'LUHFW Through HCL Through HCL Through HCL Through HCL Through HCL Through HCL Through HCL Through HCL ,PSOHPHQWLQJ SHULRG upto the reporting ൘FURUH &XPXODWLYH H[SHQGLWXUH ൘FURUH 2YHUKHDGV WKHSURMHFWVRU SURJUDPVVXE H[SHQGLWXUH KHDGV 'LUHFW $PRXQWVSHQWRQ wise outlay $PRXQW EXGJHW SURJUDP ൘FURUH SURMHFWRU ZDVXQGHUWDNHQ 526+1,1$'$50$/+275$ &KDLUSHUVRQ&RUSRUDWH6RFLDO5HVSRQVLELOLW\&RPPLWWHH DQGGLVWULFWZKHUH VSHFLI\WKHVWDWH SURMHFWVRUSURJUDPV 3URMHFWVRU3URJUDPV /RFDODUHDRURWKHU Administration Expenses Screening for Scholarships 6FUHHQLQJIRU*UDQW Awardees 7RWDO([SHQGLWXUH &653URMHFW1*23DUWQHU'LUHFW,PSOHPHQWDWLRQ 6HFWRU Consultancy Expenses Consultancy Expenses Overhead expenses Power of One 7KH&RPSDQ\XQGHUWDNHV&65DFWLYLWLHVWKURXJK+&/)RXQGDWLRQD7UXVWHVWDEOLVKHGE\WKH&RPSDQ\DQGWKURXJKLPSOHPHQWLQJDJHQFLHV'XULQJWKH\HDUWKH&RPSDQ\ KDVFRQWULEXWHG৷FURUHIRU&65DFWLYLWLHV7KH7UXVWDSDUWIURP&RPSDQ\¶VFRQWULEXWLRQDOVRFROOHFWHG&65FRQWULEXWLRQIURPRWKHU*URXS&RPSDQLHVWRWKHH[WHQW RI৷FURUHHPSOR\HHFRQWULEXWLRQ LQFOXGLQJ3RZHURI2QH DPRXQWLQJ৷FURUHDQGHDUQHGLQWHUHVWRI৷FURUHRQVDYLQJVEDQNDFFRXQW7KHWRWDODPRXQWVSHQW WRZDUGV&65DQGRWKHUFKDULWDEOHDFWLYLWLHVGXULQJWKH\HDUZDV৷FURUH7KH&DVKEDODQFHVDVRQ$SULODQG0DUFKZLWK+&/)RXQGDWLRQZHUH৷ FURUHDQG৷FURUHUHVSHFWLYHO\ Not Applicable &RPSDQ\ :HKHUHE\GHFODUHWKDWLPSOHPHQWDWLRQDQGPRQLWRULQJRIWKH&65SROLF\DUHLQFRPSOLDQFHZLWK&65REMHFWLYHVDQGSROLF\RIWKH&RPSDQ\ *UDQW6HOHFWLRQ3URFHVV Sl. No Notes: 7KHUHDVRQIRUQRWVSHQGLQJWKHSUHVFULEHGDPRXQWIRU&65 WZRSHUFHQWRIWKHDYHUDJHQHWSUR¿WRIWKHODVWWKUHH¿QDQFLDO\HDUVRUDQ\SDUWWKHUHRI LV $UHVSRQVLELOLW\VWDWHPHQWRIWKH&65&RPPLWWHHWKDWWKHLPSOHPHQWDWLRQDQGPRQLWRULQJRI&653ROLF\LVLQFRPSOLDQFHZLWK&65REMHFWLYHVDQG3ROLF\RIWKH 6+,91$'$5 &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU Place: New Delhi, India 'DWH0D\

109 Directors’ Report $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW

3DUWLFXODUVSXUVXDQWWRVHFWLRQ P RIWKH&RPSDQLHV$FWUHDGZLWKWKH&RPSDQLHV $FFRXQWV 5XOHV

D &216(59$7,212)(1(5*<$1':$7(5 In critical areas like data centers and server rooms where GXDO FLUFXLW DLUFRQGLWLRQLQJ SUHFLVLRQ DQG FKLOOHG ZDWHU 5HQHZ(FRV\VWHP EDVHG LVLQVWDOOHGDFKLOOHGZDWHUEDVHG+9$&V\VWHPLV SUHIHUUHGGXULQJUHJXODURSHUDWLRQV As a responsible corporate, we believe that we have got accountability to the future and an imperative role to play in (QHUJ\ (I¿FLHQW /LJKWLQJ DQG &RQWURO LED lights addressing global energy challenges, climate change and are being used in all the areas including ODCs and HQYLURQPHQWDO VXVWDLQDELOLW\ 7KH &RPSDQ\ KDV PDGH D FRPPRQDUHDVDVZHOODVLQWKHEDVHPHQWVRIDOOPDMRU FRPPLWPHQWWRFRQVHUYHWKHHQYLURQPHQWE\DGRSWLQJWKH³*R FDPSXVHV0RWLRQVHQVRUVZKLFKRSHUDWHRQRFFXSDQF\ *UHHQ,QLWLDWLYHV´DQGEHLQJUHVSRQVLEOHIRUHQHUJ\DQGZDWHU and movement and use daylight harvesting feature have management in its area of operations and perform energy also been installed in these areas, which has resulted in HI¿FLHQF\ E\ FRQVXPLQJ HQHUJ\ DQG ZDWHU LQ DQ HI¿FLHQW RSWLPXPXVDJHRIOLJKWVDQGHQHUJ\FRQVHUYDWLRQ economical and environment friendly manner throughout all LWVSUHPLVHV Energy savings accrued during the year towards ³,QWHUDFW /(' 1RQ,QWHUDFW /(' DQG (I¿FLHQW /LJKWLQJ The initiatives and good practices as adopted by the Company Controls” has led to saving of 0:+ of absolute GXULQJ WKH ¿QDQFLDO \HDU WKDW DWWULEXWHG WRZDUGV energy consumption during the year which has helped

reduction in carbon footprint are described below: the Company to reduce W&2H (Ton of Carbon (PLVVLRQ RIFDUERQIRRWSULQW 5HQHZDEOH 3RZHU 3XUFKDVH In continuation with our commitment to reduce “carbon footprint”, we have /(' OLJKWLQJ LPSOHPHQWHG XQGHU 3URMHFW 85-$ LQ )< SURFXUHGUHQHZDEOHSRZHUHTXDOWR0:+for our KDVFRQWLQXHGWRVDYHHQHUJ\DQGFRQWULEXWHGVLJQL¿FDQWO\ PDMRUFDPSXVHVGXULQJWKH\HDU7KHVRXUFHRIWKLVSRZHU in saving 0:+ of absolute energy consumption ZDV ZLQG VRODU DQG K\GHO EDVHG HOHFWULFLW\7KLV PXFK during the year with reference to the base year which is RI*UHHQ3RZHU3XUFKDVHKDVHQDEOHGWKH&RPSDQ\WR EHLQJWUDFNHGWLOOWKHSD\EDFNSHULRG

reduce carbon footprint of W&2H (Ton of Carbon Emission) over the other available power resources like (IIHFWLYH8WLOL]DWLRQRI836(IIHFWLYHXWLOL]DWLRQRI836 *ULG DQG &DSWLYH 5HQHZDEOH 3RZHU LV FRQWULEXWLQJ WR systems in the shortlisted facilities has been realized RIRYHUDOO3$1,QGLD<7'FRQVXPSWLRQ E\LQVWDOOLQJHQHUJ\HI¿FLHQWXQLWDVSHUGHPDQGDQGE\ LQFUHDVLQJWKHHI¿FLHQF\RIH[LVWLQJ836V\VWHPVWKURXJK +LJK 6LGH &KLOOHU 2SHUDWLRQDO 3HUIRUPDQFH VKXWGRZQ RI RYHU FDSDFLWDWHG 836V 7KLV KDV HQDEOHG ,PSURYHPHQW&KLOOHU3HUIRUPDQFHLPSURYHGLQDOOPDMRU the Company to save 0:+ of absolute energy facilities due to the improvement in the effectiveness of consumption during the year and has helped reduce

FRROLQJWRZHUZLWKWKHKHOSRIDXWRFKHPLFDOGR]LQJ¿OOV tCOH 7RQRI&DUERQ(PLVVLRQ RIFDUERQIRRWSULQW replacement and condenser descaling activities which has helped the Company to save 0:+of energy (OHYDWRU DQG 673 2SHUDWLRQ RSWLPL]DWLRQ Revised during the year and has also helped in reducing the carbon operating schedule of lifts has been adopted during

footprint by W&2H 7RQRI&DUERQ(PLVVLRQ ZHHNHQGV LQ PDMRU FDPSXVHV 673 EORZHU UHWUR¿W LPSOHPHQWHG LQ RQH RI WKH %DQJDORUH UHJLRQ IDFLOLWLHV :DWHUFRROHGFKLOOHUVDUHLQVWDOOHGDWPRVWRIWKHORFDWLRQV DOVR FRQWLQXHG WR JLYH HQHUJ\ VDYLQJ 7KLV KHOSHG WKH which consume lesser power than air cooled chillers while organization to save 0:+ of absolute energy

DLUFRROHGFKLOOHUVDUHLQVWDOOHGRQO\LQZDWHUGH¿FLWDUHDV FRQVXPSWLRQLQWKLV¿VFDO\HDUDQGWRUHGXFHW&2H The auto chemical dozing system installed in SEZ Noida 7RQRI&DUERQ(PLVVLRQ RIFDUERQIRRWSULQW FDPSXVKDVDOVRKHOSHGLQVDYLQJVLJQL¿FDQWDPRXQWRI ZDWHU 6RODU :DWHU +HDWLQJ Solar Hot water of /3' FDSDFLW\LQVWDOOHGLQWKHPRQWKRI)HEUXDU\DWRQH /RZ 6LGH +9$& 2SHUDWLRQDO 3HUIRUPDQFH RI WKH 0DGXUDL UHJLRQ IDFLOLWLHV FRQWLQXHG WR SUHVHUYH ,PSURYHPHQW /RZ VLGH +9$& V\VWHPV KDYH EHHQ 0:+ RI HOHFWULF HQHUJ\ UHTXLUHG IURP FRQYHQWLRQDO LPSOHPHQWHG LQ DOO PDMRU IDFLOLWLHV LQFOXGLQJ HQHUJ\ KHDWLQJWRKHDWZDWHU(QHUJ\VDYLQJZDVZRUNHGRXWLQ HI¿FLHQWXQLWLQVWDOODWLRQ9$9UHQRYDWLRQGHIHFWLYHFRLOV comparison to conventional method of electrical heating DQG¿OWHUUHSODFHPHQWLQFUHDVHRIWHPSHUDWXUHVHWSRLQW DQGZDVWUDFNHGWLOORQH\HDURIFRPSOHWLRQRIWKHDFWLYLW\ and other related operational controls that has helped the Company in saving 0:+ of energy during the year :DWHU &RQVHUYDWLRQ Auto chemical dozing, use of and has also helped in reducing the carbon footprint by WUHDWHG VHZDJH ZDWHU IRU ÀXVKLQJ XVH RI ODQGVFDSLQJ

W&2H 7RQRI&DUERQ(PLVVLRQ 9)'V 9DULDEOH DQGVRIWZDWHUDSSOLFDWLRQVXVHRI/30ZDWHUDHUDWRUV )UHTXHQF\ 'ULYHV DUH DOVR EHLQJ XVHG LQ$+8V ZKLFK in hand wash taps, rainwater collection and its usage all result in lower power consumption by regulating the has led to the conservation of ground water of ./ IUHTXHQF\RIWKHPRWRUZKLFKLVEDVHGRQWKHUHWXUQDLU GXULQJWKH\HDU temperature feedback, an indicator of the occupancy and KHDWORDG

Annual Report 2019-20 110 $VXPPDU\RIDERYHPHQWLRQHGRSHUDWLRQDOHI¿FLHQF\UHODWHGLQWHUYHQWLRQVLVWDEXODWHGDVEHORZ

&DUERQ )< Footprint S. No ,QWHUYHQWLRQ3DUWLFXODUV 0:+ 5HGXFWLRQ

W&2 (QHUJ\5HODWHG,QWHUYHQWLRQ3DUWLFXODUV Renewable Power Purchase 2SHUDWLRQDOUHODWHGLQWHUYHQWLRQ Chiller Operational Performances Improvement +9$&2SHUDWLRQDO3HUIRUPDQFHV,PSURYHPHQW (QHUJ\(I¿FLHQW/LJKWLQJDQG&RQWUROV (IIHFWLYHXWLOL]DWLRQRI836 598 5 Elevator and STP Operation optimization 6RODU:DWHU+HDWLQJ *UDQG7RWDO

&RQYHUVLRQUHIHUHQFH*ULG(PLVVLRQ)DFWRUV&2%DVHOLQH'DWDEDVHIRUWKH,QGLDQ3RZHU6HFWRU:HLJKWHGDYHUDJH

HPLVVLRQIDFWRURIWKH,QGLDQ*ULGWDNHQLQW&20:K )< Sl. No :DWHUUHODWHG,QWHUYHQWLRQ3DUWLFXODUV +&/)DFLOLW\&RYHUHG ./ STP treated water use (7$1*3DQG6(=12,'$ :DWHUDHUDWRUV /30FDSDFLW\ PAN India :DWHUUHXVH IRXQWDLQZDWHUUHMHFWZDWHU 3XQH $0% DQG0'8 (:&ÀXVKYDOYHDGMXVWPHQW HYD *UDQG7RWDO

E 7(&+12/2*< $%62537,21 $'$37$7,21 $1' infrastructure platform with improved agility, scalability, ,1129$7,21 DYDLODELOLW\DQGHQWHUSULVHJUDGHVHFXULW\

The Company has made strategic investments in digital 'LJLWDO:RUNSODFHIRU)XWXUH WUDQVIRUPDWLRQV IRFXVHG RQ EXLOGLQJ SHUVRQD VSHFL¿F GLJLWDO solutions for enterprise processes, analytics and next gen 7KH &RPSDQ\ KDV FUHDWHG DQ RI¿FH SURGXFWLYLW\ VWDFN ZLWK ZRUNSODFH UHTXLUHPHQW 7KHVH VROXWLRQV KDYH KHOSHG WKH 2I¿FHHPDLOVHUYLFHVFDWDORJXHDVLWVFRUH1HZO\DGGHG &RPSDQ\ WR EXLOG KLJK HI¿FLHQFLHV DFURVV SURFHVVHV DQG workloads in productivity stack helps employee not only to improve the employee engagement levels driving superior FROODERUDWHDQGGHOLYHUPRUHHI¿FLHQWO\EXWDOVRKHOSVWKHPLQ SHUIRUPDQFH VHOILPSURYHPHQWE\SURYLGLQJFRQVROLGDWHGLQVLJKWVRQWKHLU XVHUEHKDYLRU&RPSRVLWHXVHFDVHVZHUHEXLOWDURXQGQH[W .H\3ODWIRUPVRI&RPSHWLWLYH'LIIHUHQWLDWLRQ generation communication and collaboration capabilities of 0LFURVRIW7HDPVZLWKIHDWXUHVOLNH%27DQGDQDO\WLFVHQJLQH The design theme for the employee centric platform of the LQWHJUDWLRQZLWKVHUYLFHGHVNDQGRWKHUDSSOLFDWLRQV0RUHRYHU &RPSDQ\ LV WRZDUGV KLJKHU HPSOR\HH HQJDJHPHQW 7KH the Company has rolled out the Enterprise mobility + security Company has integrated newer technologies of machine VXLWHIRULWVPRELOHZRUNIRUFHWRVHFXUHO\XWLOL]HFORXGEDVHG learning and chat bot capabilities for empowering the SURGXFWLYLW\VHUYLFHV employees to engage themselves in a productive collaborative HFRV\VWHP3HUVRQDVSHFL¿FVROXWLRQVIRUVDOHVDQGGHOLYHU\ ,PSURYHG5HVLOLHQFHDQG6HFXULW\3RVWXUH DUH IXUWKHU DXJPHQWHG ZLWK FRQWH[WXDO FROODERUDWLRQ 1HZ FRPSRVLWH XVHU FDVHV DUH DOVR DGGHG LQ HDUOLHU VROXWLRQV The Company has made a delicate balance between providing Digital analytics platform is extensively being used across enterprise class security for its diverse scale and scope management levels for actionable insights due to its predictive of operations while not compromising on consumer grade DQG VHOIVHUYLFH FDSDELOLWLHV ZKLFK KHOSV LQ EXLOGLQJ GHOLYHU\ ÀH[LELOLW\DQGXVHUH[SHULHQFHWRLWVPLOOHQQLDOZRUNIRUFH7KH VSHFL¿FVFHQDULRVIRULPSURYHGGHFLVLRQPDNLQJµ3URFXUHWR continuous focus on IT base line control is extended toward 3D\¶SURFHVVF\FOHLVUHYDPSHGWRGULYHF\FOHWLPHHI¿FLHQFLHV sharper engagement level compliance instead of broader DQGHQGWRHQGJRYHUQDQFH,7DVVHWOLIHF\FOHPDQDJHPHQW HQWHUSULVHOHYHOFRPSOLDQFH7KLVLVUHÀHFWHGLQRXULPSURYHG process is also revamped along with associated processes to VFRUHV FRQVLVWHQWO\ LQ WRS DPRQJ SHHU JURXS DV SHU WKH have integrated visibility of asset and control over its usage benchmarking done by independent external security rating DFURVVLWVOLIHF\FOH,QDGGLWLRQDSSOLFDWLRQODQGVFDSHLVDOVR DJHQFLHV 6HFXULW\ SRVWXUH KDV EHHQ IXUWKHU LPSURYHG ZLWK being modernized and moved towards an integrated modern PXOWLSURQJHG VWUDWHJ\ 7KH &RPSDQ\ KDV PDGH VLJQL¿FDQW

111 Directors’ Report investment in newer capabilities like network segmentation NHHS DVVLVW¶ IRU FXUYHV DQG VLGH ODQHV YHKLFOH ZKLFKKDVSURYLGHGLWZLWKWKHÀH[LELOLW\RILVRODWLQJDVSHFL¿FSDUW and obstacle detection, pedestrian detection, of environment, thus limiting the impact of any external security WUDI¿FVLJQGHWHFWLRQVSHHGEXPSGHWHFWLRQHWF DWWDFN1HZDJHWHFKQRORJ\LQYHVWPHQWLQDUHDVOLNHGHFHSWLRQ ,WDOVRLQFOXGHVSUHGH¿QHGSDWKSODQQLQJXVLQJ DGYDQFHSHUVLVWHQWWKUHDWHWFKDVUHGXFHGWKHUHVSRQVHWLPH KLJKSUHFLVLRQPDSVDQGKLJKSUHFLVLRQ*36 DQGLPSURYHGWKHHIIHFWLYHQHVVRIGHWHUUHQFH7KH&RPSDQ\ has also made investment in broader coverage of security x Advanced sensor fusion algorithms have been infrastructure with disaster recovery and high availability in implemented to ensure that the car runs in FRQVLGHUDWLRQ )XUWKHU WKH &RPSDQ\ KDV DOVR UHYLVHG LWV GLIIHUHQWHQYLURQPHQWDOFRQGLWLRQV enterprise architecture and made necessary architectural FKDQJHVLQLWVG\QDPLFJOREDOLQIUDVWUXFWXUHIRRWSULQW x 7HFKQRORJLHV OLNH 9; 9, KDYH DOVR EHHQ integrated for intelligent dynamic decision F 5(6($5&+$1''(9(/230(17 ³5 '´ making and remote controlling of some of the vehicle parameters such as engine on/off, door L 6SHFL¿FDUHDVLQZKLFK5 'ZDVFDUULHGRXW ORFNXQORFN HWF WKURXJK D PRELOH DSSOLFDWLRQ ZLWKDXWKRUL]DWLRQ a. &RFKOHDU,PSODQW'HYHORSPHQW %HQH¿WV'HULYHG x The Cochlear Implant (CI) medical device is an advanced hearing assistance device which x 'HYHORSHGWKH&RPSDQ\¶VVROXWLRQVLQDGYDQFHG can restore hearing to patients where normal SODWIRUPVIRUDXWRQRPRXVYHKLFOHGHYHORSPHQW KHDULQJDLGVZLOOQRWEHHIIHFWLYH x Some of the concepts developed as part of this x 7KHUH DUH 0LOOLRQ SHRSOH ZRUOGZLGH ZKR SURJUDPDUHXQLTXHDQGSRVLWLRQVWKH&RPSDQ\ live with disabling hearing loss, out of which 88 DWWKHIRUHIURQWRIWKHVHWHFKQRORJLHV 0LOOLRQ DUH LQ 6RXWK $VLD ,QGLD %DQJODGHVK 1HSDO %KXWDQ 3DNLVWDQ DQG $IJKDQLVWDQ x Helps global customers in faster development of $SSUR[LPDWHO\ 0LOOLRQ SHRSOH LQ 6RXWK$VLD algorithms for different applications and also in FRXOGEHQH¿WIURP&, LPSURYLQJ WKH TXDOLW\ SURGXFWLYLW\ DQG UHVSRQVH WLPHRIWKHLULQWHUQDODXWRQRPRXVGULYLQJSURJUDPV x This device consists of an external unit (that goes behind the ear) and an internal unit which F *6ROXWLRQV LV VXUJLFDOO\ LPSODQWHG ,W LV H[SHFWHG WKDW WKLV GHYLFH ZLOO JLYH VLJQL¿FDQW EHQH¿WV WR WKH x 0XOWL%DQG00:DYHDQG0LFURZDYH6ROXWLRQV KHDULQJLPSDLUHGSHRSOHDWFRPSHWLWLYHSULFHV o * PXOWLEDQG PRGHP FRPELQHV (EDQG x Along with this device, the entire ecosystem for high throughput with microwave for high software is also getting developed, comprising DYDLODELOLW\WRSURYLGHIRUÀH[LEOH*PRELOH of audiologist application software and WUDQVSRUW UHTXLUHPHQWV IRU IURQWPLG DQG rehabilitation application software which will EDFNKDXO KHOSLQWKHUHKDELOLWDWLRQRISDWLHQWV o 0RGHPGHVLJQLVVFDODEOHWRKLJKHUEDQGV x The key technologies used in this development for higher throughputs catering to various DUH GLJLWDO VLJQDO SURFHVVLQJ WHFKQLTXHV IRU *GHSOR\PHQWVFHQDULRV sound processing, noise cancellation, stimuli generation, RF Power and data transfer, o 0XOWLEDQG PRGHP VXSSRUWV FXVWRPL]DWLRQ low power technologies and miniaturized DQGLQWHJUDWLRQRI2(0VSHFL¿FIXQFWLRQV components such as mixed signal ASIC, HOHFWURGHVDQGLPSODQWKDUGZDUHZLWKVLJQL¿FDQW x +&/ +DUGZDUH $FFHOHUDWLRQ 6ROXWLRQV IRU * SURJUHVVPDGHLQWKHVHDUHDV Cloud Deployments

E $XWRQRPRXV 9HKLFOH 'HYHORSPHQW ZLWK o 6ROXWLRQVIRU*WUDQVSRUWOD\HUVLPSURYLQJ &RQQHFWHG&DU)HDWXUHV capacity and performance of data plane in 6'11)9GHSOR\PHQWV x The aim of this initiative is to create solutions DQG WHFKQRORJLHV IRU DXWRQRPRXV YHKLFOHV ,WV o 6ROXWLRQV IRU DFFHOHUDWLQJ VHUYLFHV RI * scope has been further extended to convert this FRUH DQG * UDGLR DFFHVV E\ RIÀRDGLQJ LQWRDFRQQHFWHGFDU high compute modules to programmable DFFHOHUDWRUFDUGV x $ JDVROLQH VHGDQ YHKLFOH KDV EHHQ UHWUR¿WWHG ZLWK WKH &RPSDQ\¶V DXWRPRWLYH HQJLQHHULQJ x +&/&ORXG%DVHG:LUHOHVV/$1&RQWUROOHU WHFKQRORJLHV WRPDNHLWD/HYHODXWRQRPRXV YHKLFOH7KLVYHKLFOHLVHTXLSSHGZLWKFDPHUDV o 9LUWXDOL]HG VFDODEOH IXOO IHDWXUHG VROXWLRQ and sensors such as RADAR, LIDAR, satellite IRUPDQDJLQJ:L)LDFFHVVSRLQWVVXSSRUWLQJ UHFHLYHUVDQGXOWUDKLJKSRZHUSURFHVVLQJFKLSV ODWHVWVWDQGDUGVXSWR:L)L D[ IURPOHDGLQJJOREDOWHFKQRORJ\FRPSDQLHV o $GYDQFHG DQDO\WLFVEDVHG VROXWLRQ x The typical matured use cases implemented providing interference detection, avoidance LQ WKLV /HYHO YHKLFOH GHPRQVWUDWRUV DUH µODQH DQGORDGEDODQFLQJDFURVVDFFHVVSRLQWV

Annual Report 2019-20 112 %HQH¿WV'HULYHG UHGXFWLRQLQWLPHWRPDUNHWDQGUHGXFHGFRVWRI RZQHUVKLS x Helps global customers launch solutions for GHSOR\LQJ K\EULG * QHWZRUNV DQG SURYLGHV )XWXUH$FWLRQ3ODQ LPSURYHGTXDOLW\H[SHULHQFHWRHQGFXVWRPHUV x To develop more pluggable and reusable )XWXUH$FWLRQ3ODQ modules along with DevOps framework to strengthen the security, data handling and x To continue to invest in technologies for regulatory compliance capabilities of existing LQWHJUDWHG * DFFHVV SRLQWV $,0/ EDVHG SODWIRUPV network optimization and radio resource PDQDJHPHQWVROXWLRQVIRU*QHWZRUNV x To enhance the CARE70 platform to adapt to more cloud native technologies as well as G $XWRPDWH DQG $FFHOHUDWH &ORXG 0LJUDWLRQ VHUYHUOHVVDQGHYHQWGULYHQDUFKLWHFWXUH &ORXG%ULGJH f. ,QWHOOLJHQW $XWRPDWLRQ IRU 3URGXFW 7HVWLQJ DQG x &ORXG%ULGJH LV D WUDQVIRUPDWLRQDO EULGJH WR (QJLQHHULQJ3URFHVVHV 237,086 HQJLQHHU DQG WUDQVLW RQSUHPLVH SURGXFWV platforms and services to one or more cloud x 237,086 VXLWH FRPSULVHV RI WZR SURGXFWV platforms and enable business models around 6PDU7HVW DQG $XWR0DWH 7KHVH SURGXFWV DUH FORXGKRVWHGSURGXFWV aimed at accelerating software and devices testing along with enhancing productivity of x ,W KHOSV HQWHUSULVHV WUDYHUVH WKH SDWK IURP RQ HQJLQHHUVLQWHVWDQGVXVWHQDQFHSURFHVV premise to cloud in a short span of time with minimal risks and helps in realizing measurable - SmarTest is an analytics driven test EXVLQHVVEHQH¿WVIURPFORXGDGRSWLRQ automation platform aimed at enabling rapid test design and optimized test execution for x It comes with guidance, best practices, VRIWZDUHDSSOLFDWLRQVDQGKDUGZDUHGHYLFHV assessment framework, migration accelerators, validation toolsets and marketplace integration - $XWR0DWH LV DQ DQDO\WLFV OHG HQJLQHHULQJ ZLWKLQEXLOWDXWRPDWLRQDQGDQDO\WLFV process automation platform for creation, updation and review of technical documents %HQH¿WV'HULYHG or drawings across product design and VXVWHQDQFHOLIHF\FOH x Assessment framework helps in developing comprehensive cloud migration strategies with %HQH¿WV'HULYHG LQGHSWK LQWHOOLJHQW LQVLJKWV LQWR RQSUHPLVH ZRUNORDGDQGHQYLURQPHQWV x )DVWHU WHVW DXWRPDWLRQ IRU PXOWLFKDQQHO applications supported by machine learning based x &ORXG%ULGJH VXLWH DXWRPDWHV DQG DFFHOHUDWHV recommendations and seamless integration with the development, deployment and management DXWRPDWLRQWRROVDFURVVSURGXFWWHVWOLIHF\FOH RI VHOIFRQWDLQHG KLJKO\ PDLQWDLQDEOH DQG WHVWDEOHDSSOLFDWLRQVRQFORXGSODWIRUP x Accelerate creation and updation of engineering documents by collecting input data from multiple )XWXUH$FWLRQ3ODQ GRFXPHQWVRU3/0VRXUFHVWKHUHE\HOLPLQDWLQJ human errors and minimizing the need for x To continue to invest in enhancing migration PXOWLSOHOHYHOVRIUHYLHZV recommendation including hybrid models and PXOWLFORXGPLJUDWLRQVFHQDULRV )XWXUH$FWLRQ3ODQ

x To build toolkits to make migration to wider x To enhance capabilities on analytics with more WDUJHWSODWIRUPVHDVLHUDQGKDVVOHIUHH IRFXV RQ VHOIOHDUQLQJ DQG DQDO\WLFV GULYHQ GHFLVLRQHQDEOHPHQW e. &RQQHFWHG $VVHWV LQ 5HJXODWHG (QYLURQPHQW &$5(70 3ODWIRUP x To strengthen the support for complex test automation scenarios for software and devices, x CARE70 platform accelerates the development thereby addressing the challenges of customers of highly secure and regulatory compliant LQ,R7DQGXQL¿HGFRPPXQLFDWLRQVHJPHQWV applications related to medical devices and SDWLHQWHQJDJHPHQW x To expand product functionality to support PHFKDQLFDO HQJLQHHUV E\ HQDEOLQJ HI¿FLHQW x It enables remote device monitoring and UHYLHZVRI'PRGHOVDQGHQJLQHHULQJGRFXPHQWV control of medical devices and provides device KDYLQJERWKVWUXFWXUHGDQGXQVWUXFWXUHGGDWD data visibility to patients and health service SURIHVVLRQDOV g. ,QWHOOLJHQW7HFK6XSSRUW L76

%HQH¿WV'HULYHG x iTS is an AI driven and machine learning based advanced customer support product that uses x Rapid application development in less time which the information mined from support history and JLYHVFOLHQWVDFRPSHWLWLYHHGJHZLWKVLJQL¿FDQW YDULRXVRWKHUVXSSRUWVRXUFHV

113 Directors’ Report x It provides recommendations and predictions G FOREIGN EXCHANGE EARNINGS AND OUTGO to the support agents and offers personalized support services by leveraging customer 7KH &RPSDQ\ LV DQ H[SRUWRULHQWHG XQLW DQG PDMRULW\ RI LWV LQVLJKWVDQGGDWD EXVVLQHVV VHUYLFHV DUH IRU FOLHQWV RXWVLGH ,QGLD 'XULQJ WKH year, a substantial portion of the revenue of the Company was x It comes with an AI Powered intelligent assistant GHULYHGIURPWKHH[SRUWV &KDWERW 9LUWXDO $JHQW ZLWK DXWRPDWHG VHOI learning capabilities that creates a contextualized The foreign exchange earned and spent by the Company FXVWRPHUHQJDJHPHQW during the year under review is as follows:

%HQH¿WV'HULYHG ৷LQFURUH

x ,WLPSURYHVWKHRSHUDWLRQDOHI¿FLHQF\WKURXJKSXW

Place: New Delhi, India 'DWH0D\

Annual Report 2019-20 114 $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW

'LUHFWRUV¶5HVSRQVLELOLW\6WDWHPHQWDVUHTXLUHGXQGHU6HFWLRQ F RIWKH&RPSDQLHV$FW

a) 7KH¿QDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGLQDFFRUGDQFHZLWKWKHDFFRXQWLQJVWDQGDUGVLVVXHGE\WKH,QVWLWXWHRI&KDUWHUHG$FFRXQWDQWV RI,QGLDDQGWKHUHTXLUHPHQWVRIWKH&RPSDQLHV$FWWRWKHH[WHQWDSSOLFDEOHWRWKH&RPSDQ\7KHUHKDYHEHHQQRPDWHULDOGHSDUWXUHV IURPSUHVFULEHGDFFRXQWLQJVWDQGDUGVZKLOHSUHSDULQJWKHVH¿QDQFLDOVWDWHPHQWV b) 7KH%RDUGRI'LUHFWRUVKDVVHOHFWHGWKHDFFRXQWLQJSROLFLHVGHVFULEHGLQWKHQRWHVWRWKHDFFRXQWVZKLFKKDYHEHHQFRQVLVWHQWO\DSSOLHG H[FHSWZKHUHRWKHUZLVHVWDWHG7KHHVWLPDWHVDQGMXGJPHQWVUHODWLQJWRWKH¿QDQFLDOVWDWHPHQWVKDYHEHHQPDGHRQDSUXGHQWEDVLVLQ RUGHUWKDWWKH¿QDQFLDOVWDWHPHQWVUHÀHFWLQDWUXHDQGIDLUPDQQHUWKHVWDWHRIDIIDLUVRIWKH&RPSDQ\DVDW0DUFKDQGWKHSUR¿WRI WKH&RPSDQ\IRUWKH\HDUHQGHGRQWKDWGDWH c) 7KH%RDUGRI'LUHFWRUVKDVWDNHQSURSHUDQGVXI¿FLHQWFDUHIRUWKHPDLQWHQDQFHRIDGHTXDWHDFFRXQWLQJUHFRUGVLQDFFRUGDQFHZLWKWKH SURYLVLRQV RI WKH &RPSDQLHV$FW IRU VDIHJXDUGLQJ WKH DVVHWV RI WKH &RPSDQ\ DQG IRU SUHYHQWLQJ DQG GHWHFWLQJ IUDXG DQG RWKHU LUUHJXODULWLHV d) 7KHDQQXDODFFRXQWVKDYHEHHQSUHSDUHGRQDJRLQJFRQFHUQEDVLV e) 7KH%RDUGRI'LUHFWRUVKDVODLGGRZQLQWHUQDO¿QDQFLDOFRQWUROVWREHIROORZHGE\WKH&RPSDQ\DQGWKDWVXFKLQWHUQDO¿QDQFLDOFRQWUROVDUH DGHTXDWHDQGDUHRSHUDWLQJHIIHFWLYHO\DQG f) 7KH%RDUGRI'LUHFWRUVKDVGHYLVHGSURSHUV\VWHPVWRHQVXUHFRPSOLDQFHZLWKWKHSURYLVLRQVRIDOODSSOLFDEOHODZVDQGWKDWVXFKV\VWHPV DUHDGHTXDWHDQGRSHUDWLQJHIIHFWLYHO\

)RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUV

6+,91$'$5 &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU

Place: New Delhi, India 'DWH0D\

115 Directors’ Report $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW DETAILS ON STOCK OPTION PLANS

3XUVXDQWWRWKHDSSURYDORIWKHVKDUHKROGHUV\RXU&RPSDQ\KDGLQVWLWXWHGWKH6WRFN2SWLRQ3ODQ ³3ODQ´ 6WRFN2SWLRQ 3ODQ ³3ODQ´ DQG6WRFN2SWLRQ3ODQ ³3ODQ´ IRUDOOHOLJLEOHHPSOR\HHVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHV7KH 3ODQ3ODQDQG3ODQZHUHDGPLQLVWHUHGE\WKH1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHH HUVWZKLOH&RPSHQVDWLRQ&RPPLWWHH RIWKH%RDUGDQGSURYLGHGIRUWKHLVVXDQFHRIDQGRSWLRQVUHVSHFWLYHO\

7KH&RPSDQ\KDVDµ+&/7HFKQRORJLHV6WRFN2SWLRQV7UXVW¶IRUPHGDVSHUWKH6(%, 6KDUH%DVHG(PSOR\HH%HQH¿WV 5HJXODWLRQV WRLPSOHPHQWPDQDJHRSHUDWHDQGRUDGPLQLVWHUWKH6WRFN2SWLRQ3ODQRIWKH&RPSDQ\+RZHYHUVLQFHWKH&RPSDQ\KDG EHHQDOORWWLQJVKDUHVGLUHFWO\WKHVDLGWUXVWPHFKDQLVPZDVQRWXVHG$VRQ0DUFKDOOWKHWKUHH(6233ODQVYL]WKH3ODQ 3ODQDQGWKH3ODQKDYHEHHQWHUPLQDWHG

7KHGHWDLOVRIWKHRSWLRQVJUDQWHGXQGHUWKH3ODQ3ODQDQG3ODQDUHJLYHQEHORZ

S. No. 'HVFULSWLRQ 3ODQ 3ODQ 3ODQ

'DWHRIVKDUHKROGHUV¶DSSURYDO 6HS 2FW 'HF

Total number of options granted (gross)

The pricing formula 0DUNHWSULFHLQWHUQDO 0DUNHWSULFH 0DUNHWSULFH valuation price determined by Nomination and Remuneration Committee (erstwhile Compensation Committee)

Number of options vested

5 Number of options exercised

Total number of shares arising as a result of exercise of options

7 Number of options lapsed & forfeited

8 9DULDWLRQLQWHUPVRIRSWLRQV None None None

9 0RQH\UHDOL]HGE\H[HUFLVHRIRSWLRQV ൘LQFURUH

7RWDOQXPEHURIRSWLRQVLQIRUFH --- DVRQ0DUFK

*UDQWWR6HQLRU0DQDJHPHQW

Number of Options

Source of Shares Combination Combination Primary

9HVWLQJ3HULRG 0RQWKV 0RQWKV 0RQWKV

9HVWLQJ5HTXLUHPHQWV 6HUYLFH3HULRG&RPSDQ\¶V3HUIRUPDQFHRQWKHEDVLVRI FRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

1RWH7KHGLOXWHGHDUQLQJVSHUVKDUHZHUH`DQG`IRUWKH¿VFDO\HDUVHQGHG0DUFKDQG0DUFKUHVSHFWLYHO\ WKHHDUQLQJVSHUVKDUHKDYHEHHQDGMXVWHGIRUERQXVLVVXHIRUWKHSUHYLRXV¿QDQFLDO\HDUHQGHG0DUFK

Annual Report 2019-20 116 'HWDLOVRI6WRFN2SWLRQ3ODQVIRUWKH\HDUHQGHG0DUFK

3DUWLFXODUV 3ODQ 3ODQ 3ODQ 7RWDOQXPEHURIRSWLRQVRXWVWDQGLQJDVRQ$SULO --

Number of options granted during the year

Pricing formula 0DUNHWSULFH 0DUNHWSULFH 0DUNHWSULFH internal valuation price determined by Nomination and Remuneration Committee HUVWZKLOH &RPSHQVDWLRQ &RPPLWWHH Number of options vested during the year

Number of options exercised during the year

Total number of shares arising as a result of exercise of options during the year Number of options lapsed & forfeited during the year

9DULDWLRQLQWHUPVRIRSWLRQV None None None

0RQH\UHDOLVHGE\H[HUFLVHRIRSWLRQVGXULQJWKH\HDU ൘LQFURUH (includes issued through Trust) 7RWDOQXPEHURIRSWLRQVLQIRUFHDVRQ0DUFK ---

7RWDOQXPEHURIRSWLRQVH[HUFLVDEOHDVRQ0DUFK ---

(PSOR\HHVJUDQWHGRSWLRQVHTXDOWRRUPRUHRIWKHWRWDOQXPEHURI None None None options granted during the year

(PSOR\HHVJUDQWHGRSWLRQVHTXDOWRRUH[FHHGLQJRIWKHLVVXHG None None None capital during the year )DLUYDOXHFRPSHQVDWLRQFRVWIRURSWLRQVJUDQWHG ൘LQFURUH 1$ 1$ 1$

:HLJKWHGDYHUDJHH[HUFLVHSULFHRIRSWLRQVJUDQWHGDERYHPDUNHWSULFH 1$ 1$ 1$

:HLJKWHGDYHUDJHIDLUYDOXHRIRSWLRQVJUDQWHGDERYHPDUNHWSULFH 1$ 1$ 1$

:HLJKWHGDYHUDJHH[HUFLVHSULFHRIRSWLRQVJUDQWHGDWPDUNHWSULFH 1$ 1$ 1$

:HLJKWHGDYHUDJHIDLUYDOXHRIRSWLRQVJUDQWHGDWPDUNHWSULFH 1$ 1$ 1$ :HLJKWHGDYHUDJHH[HUFLVHSULFHRIRSWLRQVJUDQWHGEHORZPDUNHWSULFH ൘ 1$ 1$ 1$

:HLJKWHGDYHUDJHIDLUYDOXHRIRSWLRQVJUDQWHGEHORZPDUNHWSULFH ൘ 1$ 1$ 1$

0HWKRGDQGVLJQL¿FDQWDVVXPSWLRQVXVHGGXULQJWKH\HDUWRHVWLPDWHWKHIDLUYDOXHVRIRSWLRQV

0HWKRG %ODFN6FKROHV %ODFN6FKROHV %ODFN6FKROHV

6LJQL¿FDQWDVVXPSWLRQV

Risk free interest rate

Expected life XSWRPRQWKV XSWRPRQWKV XSWRPRQWKV

([SHFWHG9RODWLOLW\

Expected Dividend

7KHSULFHRIWKHXQGHUO\LQJRSWLRQVLQPDUNHWDWWKHWLPHRIJUDQW 5V 1$ 1$ 1$ 'HWHUPLQDWLRQRIH[SHFWHG9RODWLOLW\ The expected term of the ESOP is estimated based RQ WKH YHVWLQJ WHUP DQG FRQWUDFWXDO WHUP RI WKH (623 Expected volatility during the expected term of the ESOP is based on historical volatility of the observed PDUNHW SULFHV RI WKH &RPSDQ\¶V SXEOLFDOO\ WUDGHG HTXLW\ VKDUHV GXULQJ D SHULRG HTXLYDOHQW WR WKH H[SHFWHG WHUP RIWKH(623

117 Directors’ Report 3UH,32'HWDLOVRI6WRFN2SWLRQ3ODQ $VRQ0DUFK 3DUWLFXODUV (6233ODQ 1XPEHURIRSWLRQVJUDQWHGSUH,32 Pricing formula Internal valuation

Number of options vested

Number of options exercised

Total number of shares arising as a result of exercise of options

Number of options lapsed

9DULDWLRQLQWHUPVRIRSWLRQV None

0RQH\UHDOLVHGE\H[HUFLVHRIRSWLRQV ൘LQFURUH

7RWDOQXPEHURIRSWLRQVLQIRUFHDVRQ0DUFK -

)DLUYDOXHFRPSHQVDWLRQFRVWIRURSWLRQVJUDQWHG ൘LQFURUH

:HLJKWHGDYHUDJHH[HUFLVHSULFHRIRSWLRQVJUDQWHG ൘

:HLJKWHGDYHUDJHIDLUYDOXHRIRSWLRQVJUDQWHG ൘

0HWKRGXVHGWRHVWLPDWHWKHIDLUYDOXHVRIRSWLRQV %ODFN6FKROHV0HWKRG

6LJQL¿FDQWDVVXPSWLRQV

Risk free interest rate

Expected life WRPRQWKV

Expected volatility

Expected dividends

(PSOR\HH&RPSHQVDWLRQ&RVWEDVHGRQIDLUYDOXHRIWKHRSWLRQV

$GG6WRFNEDVHGHPSOR\HHFRPSHQVDWLRQH[SHQVHLQFOXGHGLQUHSRUWHGQHWLQFRPH Nil

'HGXFW 7RWDO VWRFNEDVHG HPSOR\HH FRPSHQVDWLRQ H[SHQVH GHWHUPLQHG XQGHU IDLU YDOXHEDVHG Nil method for all awards 3URIRUPDQHWLQFRPH

Earnings per share ` $VUHSRUWHG %DVLF

'LOXWHG

$GMXVWHGSURIRUPD %DVLF

'LOXWHG

0HWKRGDQGVLJQL¿FDQWDVVXPSWLRQVXVHGGXULQJWKH\HDUHVWLPDWHWKHIDLUYDOXHVRIRSWLRQV %ODFN6FKROHV0HWKRG

6LJQL¿FDQWDVVXPSWLRQV

Dividend yield

Expected life XSWRPRQWKV

Risk free interest rates

9RODWLOLW\

Annual Report 2019-20 118 'HWDLOVRIRSWLRQVJUDQWHGWR6HQLRU0DQDJHULDO3HUVRQQHORIWKH&RPSDQ\GXULQJWKH\HDUHQGHG0DUFK

None

'HWDLOVRIRSWLRQVJUDQWHGWRHPSOR\HHVDPRXQWLQJWRRUPRUHRIWKHRSWLRQVJUDQWHGGXULQJWKH\HDUHQGHG0DUFK

None

'HWDLOVRIRSWLRQVJUDQWHGWRHPSOR\HHVGXULQJWKH\HDUHQGHG0DUFKDPRXQWLQJWRRUPRUHRIWKHLVVXHGFDSLWDO RIWKH&RPSDQ\DWWKHWLPHRIWKHJUDQW None

)RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUV

6+,91$'$5 &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU

Place: New Delhi, India 'DWH0D\

119 Directors’ Report 3UHYLRXV KHOGVLQFH HPSOR\PHQW $XJXVW -XQH )HEUXDU\ -XQH 0DUFK -XQH 1RYHPEHU 6HSWHPEHU -XO\ 1RYHPEHU Designation DSSRLQWPHQW KHOGLQSUHYLRXV Director / Centre Head 0DQDJLQJ Director 6HQLRU0DQDJHU 5 ' 0DMRU$FFRXQW 0DQDJHU Chief Financial 2I¿FHU Treasurer 9LFH3UHVLGHQW Finance 9LFH3UHVLGHQW Taxation *HQHUDO0DQDJHU Finance 3UHYLRXV (PSOR\PHQW Ascend Technologies Limited Accenture Services Private Limited HCL Hewlett HCL Packard Limited )XMLWVX,&,0 Limited Hexaware Technologies Limited *HQHUDO0RWRUV India Private Limited Tata Consultancy Tata Services Limited Satyam Computer Services Limited Samsung India Electronics Private Limited in Years ([SHULHQFH 'DWHRI-RLQLQJ 'HFHPEHU 1RYHPEHU 0DUFK -XO\ -XO\ -XO\ $XJXVW $XJXVW +&/$PHULFD,QF 9LFH3UHVLGHQW 0DUFK WKH\HDU ൘ 5HPXQHUDWLRQ 5HFHLYHGGXULQJ (GXFDWLRQDO 4XDOL¿FDWLRQ %7HFK 07HFK 0%$ 0DUNHWLQJ %7HFK Electronics &:$ CA 3*' 0DUNHWLQJ 0DQDJHPHQW CA CA &$&:$ &$&6&:$ $QQH[XUHWRWKH'LUHFWRUV¶5HSRUW Chief Human Resources 2I¿FHU 3UHVLGHQW$SSOLFDWLRQV & Systems Integration Services Delivery 3UHVLGHQW±(QJJDQG R&D Services ([HFXWLYH9LFH3UHVLGHQW 7UHDVXU\ ([HFXWLYH9LFH3UHVLGHQW 7D[DWLRQ &RUSRUDWH9LFH3UHVLGHQW *OREDO+HDG&\EHU 6HFXULW\ *OREDO5LVN Compliance Deputy Chief Financial 2I¿FHU ([HFXWLYH9LFH3UHVLGHQW %XVLQHVV)LQDQFH ([HFXWLYH9LFH3UHVLGHQW %XVLQHVV)LQDQFH 58 &KLHI)LQDQFLDO2I¿FHU 0%$)LQDQFH 2FWREHU Age Designation ,QIRUPDWLRQDVSHU5XOH RI&KDSWHU;,,,RIWKH&RPSDQLHV $SSRLQWPHQWDQG5HPXQHUDWLRQRI0DQDJHULDO3HUVRQQHO 5XOHV 1DPH $SSDUDR99 Subramanian *RSDODNULVKQDQ $MLW.ULVKQDQ.XWW\ .XPDU *DGH+DQXPDQWKD Rao 9LQHHW9HGSUDNDVK Sood Amit Roy 0DQLQGHU6LQJK Narang *RXWDP5XQJWD 5 8 7 9 Prateek Aggarwal 3UDKODG5DL%DQVDO S. No. $ /LVWRIWRSWHQHPSOR\HHVLQWHUPVRIUHPXQHUDWLRQUHFHLYHGGXULQJ¿QDQFLDO\HDU

Annual Report 2019-20 120 1$ 3UHYLRXV +HOG6LQFH (PSOR\PHQW )HEUXDU\ 1RYHPEHU $XJXVW 0D\ -XQH $XJXVW $SULO 0DUFK -DQXDU\ 6HSWHPEHU 0D\ 1$ Designation $SSRLQWPHQW +HOG,Q3UHYLRXV Consultant Chief Technology Chief Technology 2I¿FHU 6HQLRU0DQDJHU5 ' 1RYHPEHU Director / Centre Head *HQHUDO0DQDJHU 1RYHPEHU Senior Systems 0DQDJHU Engineer 9LFH3UHVLGHQW Taxation 6U&RQVXOWDQW ,28+HDG 9LFH3UHVLGHQW -XQH 0DQDJLQJ'LUHFWRU -XQH 5HJLRQDO0DQDJHU Customer Support 9LFH3UHVLGHQW Finance 1$ 3UHYLRXV (PSOR\PHQW Tata Technologies Technologies Tata Limited .HQIRUFH and Imspired Private Technologies Limited HCL Hewlett Packard HCL Limited Ascend Technologies Ascend Technologies Limited %KDUWL$LUWHO3ULYDWH Limited Infosys Technologies Infosys Technologies Limited Dilithium Networks Head of HR Softek Private Limited Samsung India Electronics Private Limited Tata Consultancy Tata Services Limited 9LQFXOXP6ROXWLRQV Privet Limited Accenture Services Private Limited Redington (India) Limited HCL Comnet Systems HCL & Services Limited In Years ([SHULHQFH 'DWH2I-RLQLQJ 6HSWHPEHU ൘ -XO\ 6HSWHPEHU 'HFHPEHU 0DUFK $SULO 2FWREHU -XO\ -XO\ -XO\ 'HFHPEHU 2FWREHU 0D\ 2FWREHU ,1'&+(05 '/DE 6U(QJLQHHU 5HFHLYHG 5HPXQHUDWLRQ During The Year Year During The (GXFDWLRQDO 4XDOL¿FDWLRQ CA CA 0%$,QIRUPDWLRQ Technology 0(07HFK %7HFK(OHFWURQLFV -XO\ 'LSORPD(OHFWURQLFV %7HFK07HFK 3*'±+5 Industrial Relations 0%$,QIRUPDWLRQ Systems 0%$0DUNHWLQJ 0DQDJHPHQW %(%7HFK +RQV ,7&RPSXWHU Science CA 0(07HFK Aviation 0%$0DUNHWLQJ -XO\ 07HFK&RPSXWHU Science 0%$0DUNHWLQJ 0DQDJHPHQW 0(07HFK Electronics 6HQLRU9LFH3UHVLGHQW Finance 9LFH3UHVLGHQW*OREDO Information Technology 'HSXW\*HQHUDO0DQDJHU (QJJDQG5 '6HUYLFHV 3UHVLGHQW±(QJJDQG5 ' Services 9LFH3UHVLGHQW,QIUDVWUXFWXUH 'LYLVLRQ86'HOLYHU\ Chief Human Resources 2I¿FHU 9LFH3UHVLGHQW,QIUD'LJLWDO Platform 6HQLRU9LFH3UHVLGHQW(QJJ and R&D Services ([HFXWLYH9LFH3UHVLGHQW Taxation 9LFH3UHVLGHQW$SSOLFDWLRQV Systems Integration Services Delivery 3UHVLGHQW$SSOLFDWLRQV Systems Integration Services Delivery ([HFXWLYH9LFH3UHVLGHQW Analytics Digital & 6HQLRU9LFH3UHVLGHQW'LJLWDO Process Outsourcing 3ULQFLSDO(QJJDQG5 ' Services 57 58 9LFH3UHVLGHQW+5 9LFH3UHVLGHQW+5 55 Age Designation 1DPH $VKX.DNNDU $VKLVK6DPSDWUDM.RWKDUL $SSDUDR99 Debasis Sarkar Abhinav Sharma Amrita Das Amit Roy Avishek Chattopadhyay Avishek %DVK\DP7KLUXPDODL Echambadi 9 8 $ML.XPDU%DODNULVKQDQ 7 $MLW.ULVKQDQNXWW\.XPDU 5 Amitava Sengupta S. $WXO.XPDU-DLQ *DGH+DQXPDQWKD5DR 'DNVKLQD0XUWK\&KXQGXUL &9LQD\.XPDU6LQJK No. % /LVWRIHPSOR\HHVHPSOR\HGIRUIXOO¿QDQFLDO\HDUDQGLQUHFHLSWRIUHPXQHUDWLRQPRUHWKDQ5XSHHV2QH&URUHDQG7ZR/DNKVSHUDQQXP

121 Directors’ Report 1$ 3UHYLRXV +HOG6LQFH (PSOR\PHQW 1RYHPEHU -XO\ )HEUXDU\ )HEUXDU\ -XO\ 'HFHPEHU -DQXDU\ 6HSWHPEHU 1$ Designation $SSRLQWPHQW +HOG,Q3UHYLRXV Senior Development Engineer *HQHUDO0DQDJHU Finance %XVLQHVV/HDGHU -XQH $FFRXQWV2I¿FHU -XO\ Developer 0DMRU$FFRXQW 0DQDJHU 0DQDJLQJ'LUHFWRU 1RYHPEHU Article 9LFH3UHVLGHQW 0DUFK 6HQLRU0DQDJHU Regional Director 1$ 3UHYLRXV (PSOR\PHQW Texas Instruments Texas *HQHUDO0RWRUV,QGLD Private Limited Patni Computers Systems Limited %KDUDW+HDY\ Electricals Limited .HQIRUFH And Imspired Private Technologies Limited Pricewaterhouse Coopers Perot Systems Associate PSI Sutherland 0LFURVRIW,QGLD (R&D) Private Limited In Years ([SHULHQFH 'DWH2I-RLQLQJ 1RYHPEHU 6HSWHPEHU ൘ 0DUFK $SULO 2FWREHU 0DUFK -XQH -XO\ 6LS7HFK $XJXVW )XMLWVX,&,0/LPLWHG 'HFHPEHU $SULO 0D\ 0DUFK 5HFHLYHG 5HPXQHUDWLRQ During The Year Year During The (GXFDWLRQDO 4XDOL¿FDWLRQ %(%7HFK %(QJ +RQV Electronics &$&:$ 06: 3HUVRQQHO HR & IR) %&RP'LSORPD,Q 6\VWHP0DQDJHPHQW &6&:$ 0&$&RPSXWHU Science 3*'0DUNHWLQJ 0DQDJHPHQW %&RP*1,,73URI &HUWL¿FDWLRQ2Q 6\VWHP0JPW %( &$&:$ %(%7HFK %(QJ +RQV ,7 Computer Science %(%7HFK% (QJ +RQV ,7 Computer Science %7HFK3*',Q 6HQLRU0DQDJHPHQW 3URJUDP 603 3ULQFLSDO(QJJDQG5 ' Services ([HFXWLYH9LFH3UHVLGHQW %XVLQHVV)LQDQFH $VVRFLDWH9LFH3UHVLGHQW Service Delivery Company Secretary 6HQLRU(QWHUSULVH$UFKLWHFW (QJJDQG5 '6HUYLFHV &RUSRUDWH9LFH3UHVLGHQW *OREDO+HDG&\EHU6HFXULW\ *OREDO5LVN&RPSOLDQFH )HOORZ &KLHI$UFKLWHFW DRYiCE 'HSXW\*HQHUDO0DQDJHU (QJJDQG5 '6HUYLFHV 6HQLRU9LFH3UHVLGHQW &RUSRUDWH*OREDO:RUNSODFH Solutions 6HQLRU9LFH3UHVLGHQW 'HOLYHU\+HDG3KDUPD/LIH Sciences 6HQLRU9LFH3UHVLGHQW Applications & Systems Integration, Delivery 6HQLRU9LFH3UHVLGHQW(QJJ and R&D Services 9LFH3UHVLGHQW+5 57 Age Designation 1DPH Navin Sabharwal Jagtar Singh Sekhon Jagdeep Singh Chawla Nirmala Datla S. *XQDPDQL5DMDJRSDO *RXWDP5XQJWD 0HUZLQ'KDQDUDM *DXUDY6DLQL 0DQLVK$QDQG *DQHVK6ULQLYDVDQ 0DQLQGHU6LQJK1DUDQJ 1DOLQ0LWWDO 0XUDOL.6 No.

Annual Report 2019-20 122 3UHYLRXV +HOG6LQFH (PSOR\PHQW 1RYHPEHU $XJXVW -XO\ 0D\ -XQH 0D\ $XJXVW $XJXVW Designation $SSRLQWPHQW +HOG,Q3UHYLRXV Software Engineer 3URMHFW0DQDJHU $XJXVW 9LFH3UHVLGHQW 'HFHPEHU '\*HQHUDO0DQDJHU Finance $VVRFLDWH9LFH President &KLHI)LQDQFLDO2I¿FHU -XQH System Administrator '\*HQHUDO0DQDJHU 'HFHPEHU 9LFH3UHVLGHQW Taxation 9LFH3UHVLGHQW 0D\ Principal Consultant *HQHUDO0DQDJHU 1RYHPEHU Strategic Investor 3UHYLRXV (PSOR\PHQW Infosys Technologies Infosys Technologies Limited Infosys Technologies Infosys Technologies Limited (XUHND0RELOH Advertising HCL Comnet Limited HCL Hexaware Limited Technologies Advanced Centre For Computing Technology CSC India Limited Lead Consultant HCL Comnet Limited HCL JSL Limited JSL Satyam Computer Services Limited CSC India Private Limited Concentrix Daksh Ondot Couriers & Cargo Limited 0SKDVLV/LPLWHG 9LFH3UHVLGHQW -XO\ In Years ([SHULHQFH 'DWH2I-RLQLQJ 1RYHPEHU 6HSWHPEHU 6HSWHPEHU ൘ 2FWREHU 9DOXHODEV6ROXWLRQV 0D\ $XJXVW $XJXVW 2FWREHU 'HFHPEHU 'HFHPEHU $XJXVW 0DUFK $XJXVW +&/$PHULFD,QF 9LFH3UHVLGHQW 1RYHPEHU -XQH 3¿]HU/LPLWHG $FFRXQWV2I¿FHU $SULO -XO\ 5HFHLYHG 5HPXQHUDWLRQ During The Year Year During The (GXFDWLRQDO 4XDOL¿FDWLRQ CA %(%7HFK %(QJ +RQV Instrumentation & Control %(%7HFK% (QJ +RQV 0%$0DQDJHPHQW $XJXVW &$&:$ %&RP + %(±(OHFWURQLFV Communication 0&$,7 Computer Science Polytechnic Diploma ,7&RPSXWHU Science &:$)LQDO %(%7HFK %(QJ +RQV Electronics 0%$%(%7HFK Electronics 0$ 0D\ CA CA CA &:$)LQDQFLDO Accounting %6&,7&RPSXWHU Science 6HQLRU9LFH3UHVLGHQW±&(2 2I¿FH $VVRFLDWH9LFH3UHVLGHQW Analytics Digital & *HQHUDO0DQDJHU$SSOLFDWLRQV & Systems Integration Services Delivery 6HQLRU9LFH3UHVLGHQW±'LJLWDO & Analytics 9LFH3UHVLGHQW±%XVLQHVV Finance 9LFH3UHVLGHQW'LJLWDO3URFHVV Outsourcing )HOORZ &KLHI$UFKLWHFW Cybersecurity *OREDO2SHUDWLRQV'LUHFWRU *OREDO,QIRUPDWLRQ7HFKQRORJ\ 6HQLRU9LFH3UHVLGHQW+HDG Enterprise Applications & Digital Transformation 6HQLRU9LFH3UHVLGHQW6HUYLFH Delivery ([HFXWLYH9LFH3UHVLGHQW $SSOLFDWLRQV 6\VWHPV Integration, Delivery 6HQLRU9LFH3UHVLGHQW)LQDQFH and Accounts &KLHI)LQDQFLDO2I¿FHU 0%$)LQDQFH 6HQLRU9LFH3UHVLGHQW±6DOHV 55 'LUHFWRU,QIUD'LJLWDO3ODWIRUP Age Designation 1DPH Sandeep Srikantan Srinivasan Raghwan Subramaniam Prateek Aggarwal Pradeep Sharma Ramaswamy Pathiyoor 9DUDGDUDMDQ Ravi Yeddanapudi Rampal Singh S. 5DKXO0RKWD 6DFKLQ%DMDM 3XQHHW0HKUD 5LWHVK.XPDU-DLQ 5HQMX*HRUJH9DUJKHVH 3UDVXQ5R\%DUPDQ 5DQJDUDMDQ9LMD\DUDJKDYDQ 5DMHVK*XSWD 9LFH3UHVLGHQW7D[DWLRQ 3UDKODG5DL%DQVDO 'HSXW\&KLHI)LQDQFLDO2I¿FHU 5DM.XPDU:DOLD No.

123 Directors’ Report 3UHYLRXV +HOG6LQFH (PSOR\PHQW )HEUXDU\ -XQH $XJXVW 1RYHPEHU -XQH 0D\ 0D\ 0D\ -XO\ 1RYHPEHU -XQH -XQH Designation $SSRLQWPHQW +HOG,Q3UHYLRXV Network Engineer %XVLQHVV(QWLW\ 0DQDJHU 1RUWK $VVRFLDWH9LFH President Senior Software Engineer 9LFH3UHVLGHQW Finance 6HQLRU/HDG'LYHUVLW\ -DQXDU\ +HDG*XUJDRQ Development Centre Senior Solution Architect Director System Engineer '\9LFH3UHVLGHQW 2FWREHU Customer Support Engineer Associate Consultant 9LFH3UHVLGHQW Internal Audit 3UHYLRXV (PSOR\PHQW HCL Infosystems HCL Limited Satyam Computer Services Limited %DHKDO6RIWZDUH Limited Satyam Computer Services Limited Infosys Limited Amdocs Iopex Technologies Iopex Technologies Private Limited Nucleus Software Exports Limited Attest Testing Attest Testing Services Limited 6X.DP Communications Private Limited Cognizant Solutions Technology $7*7LUHV3ULYDWH Limited In Years ([SHULHQFH 'DWH2I-RLQLQJ ൘ )HEUXDU\ 0LFURODQG/LPLWHG 0DUFK -DQXDU\ 0D\ $SULO 'HFHPEHU 'HFHPEHU -XO\ -DQXDU\ 9RUGHO,QF 86$ 0D\ -DQXDU\ -DQXDU\ *HQSDFW,QGLD 6HQLRU9LFH3UHVLGHQW )HEUXDU\ 2FWREHU 5HFHLYHG 5HPXQHUDWLRQ During The Year Year During The (GXFDWLRQDO 4XDOL¿FDWLRQ %(%7HFK %(QJ +RQV Electronics %7HFK &KHPLFDO -XQH 0%$3HUVRQQHO HR & IR %(%7HFK %(QJ +RQV Aviation &$&6&:$ 0%$%XVLQHVV Administration 0%$*HQHUDO 0DQDJHPHQW %7HFK3*'LQ0V 7HOHFRPPXQLFDWLRQ Polytechnic Diploma – Electronics / Telecommunication %6F3*&30 3* &HUWL¿FDWH3URJLQ 0JPW 0%$)LQDQFH %7HFK(OHFWURQLFV $SULO %7HFK Electronics & Communications 0%$,7 Computer Science ,&:$$XGLWRU 6HQLRU9LFH3UHVLGHQW,QWHUQDO $XGLW 5LVN0DQDJHPHQW 6HQLRU9LFH3UHVLGHQW,QIUD Digital Platform &RUSRUDWH9LFH3UHVLGHQW $3$&0( ,QGLD%XVLQHVV ([HFXWLYH9LFH3UHVLGHQW $SSOLFDWLRQV 6\VWHPV Integration, Delivery 2SHUDWLRQV'LUHFWRU±(QJJ and R&D Services ([HFXWLYH9LFH3UHVLGHQW %XVLQHVV)LQDQFH &RUSRUDWH9LFH3UHVLGHQW 3URJUDP'LUHFWRU±1HZ9LVWDV 693 *OREDO'HOLYHU\+HDG± Things Internet of 6HQLRU9LFH3UHVLGHQW'LJLWDO & Analytics 6HQLRU9LFH3UHVLGHQW $XWRPDWLRQ0/$, ,QGXVWULDOL]DWLRQDQG(1 Presales 6HQLRU9LFH3UHVLGHQW(QJJ and R&D Services 9LFH3UHVLGHQW±,QYHVWRU Relations &RUSRUDWH9LFH3UHVLGHQW 3URJUDP'LUHFWRU±1HZ9LVWDV 6HQLRU9LFH3UHVLGHQW±*OREDO Information Technology $VVRFLDWH9LFH3UHVLGHQW Analytics Digital & 55 Age Designation 1DPH 9DUDQDVL*XUX9HQNDWD Subbaraya Sharma 7DMHVKZDU6LQJK 6XU\D3DZDQ.XPDU 9DGDSDOOL Subramanian *RSDODNULVKQDQ Srimathi Shivashankar Siva Subrahmanyam .RWWKDSDOOL Seshan Sowmya Narayanan 9HQNDWD.ULVKQD&KDLWDQ\D Chalamala S. 59 58 57 Swapan Johri 55 Sumant Parimal 6K\DP(QMHWL 6DQMR\*KRVK 6DQMD\.XPDU0HQGLUDWWD 6DQMD\*XSWD 9HQNDWD5DPDQD6DPXGUDOD No.

Annual Report 2019-20 124 3UHYLRXV 3UHYLRXV +HOG6LQFH +HOG6LQFH (PSOR\PHQW (PSOR\PHQW )HEUXDU\ -DQXDU\ )HEUXDU\ -XO\ $XJXVW 0DUFK Designation Designation $SSRLQWPHQW $SSRLQWPHQW +HOG,Q3UHYLRXV +HOG,Q3UHYLRXV 0DQDJHU 0D\ 6936WUDWHJLF Procurement 6HQLRU0DQDJHU -XO\ 'HSXW\0DQDJHU -XQH *HQHUDO0DQDJHU Legal Software Engineer $VVRFLDWH9LFH 3UHVLGHQW+5 Lead Technical Treasurer 3UHYLRXV 3UHYLRXV (PSOR\PHQW (PSOR\PHQW Satyam Computer Services Limited Hindustan Coca &ROD%HYHUDJHV Private Limited HCL Hewlett HCL Packard Limited HCL Hewlett Packard HCL Limited *OD[R6PLWK.OLQH Consumer Health Care Limited HSS (Pnologix Software Solutions Private Limited) HCL Comnet Limited HCL Cybercash India Private Limited Tata Consultancy Tata Services Limited 6WDWH%DQN2I,QGLD $VVRFLDWH0DQDJHU 0D\ In Years In Years ([SHULHQFH ([SHULHQFH 'DWH2I-RLQLQJ 'DWH2I-RLQLQJ 1RYHPEHU 6HSWHPEHU 0D\ 1$ 1$ 1$ ൘ 0DUFK -XO\ 1$ 1$ 1$ -XO\ $XJXVW +6%& 9LFH3UHVLGHQW -XO\ -XQH -XO\ 0DUFK -XO\ -XO\ 5HFHLYHG 5HPXQHUDWLRQ 7KH

Annual Report 2019-20 126 6LQFH 6+,91$'$5 3UHYLRXV (PSOR\PHQW+HOG &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU Designation $SSRLQWPHQW UXSHHVSHUDQQXPRUHLJKWODFVDQG¿IW\ +HOG,Q3UHYLRXV )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUV 3UHYLRXV (PSOR\PHQW WKDQRQHFURUHDQGWZRODFV Years ([SHULHQFH,Q 'DWH2I-RLQLQJ

127 Directors’ Report &25325$7(*29(51$1&( REPORT

*RRGJRYHUQDQFHIDFLOLWDWHVHI¿FLHQWHIIHFWLYHDQGHQWUHSUHQHXULDO RIWKH&RPSDQ\7KHSULPDU\UROHRIWKH%RDUGLVWKDWRIWUXVWHHVKLS PDQDJHPHQW WKDW FDQ GHOLYHU VWDNHKROGHU YDOXH RYHU ORQJ WHUP VR DV WR SURWHFW DQG HQKDQFH VWDNHKROGHUV¶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¿FLHQWDQGVXVWDLQDEOHHQYLURQPHQW serves the short and long term interests of shareholders and RWKHUVWDNHKROGHUV7KLVLVUHÀHFWHGLQWKH&RPSDQ\¶VJRYHUQDQFH Corporate governance is based on the principles of integrity, practices, through which it strives to maintain an active, informed IDLUQHVV HTXLW\ WUDQVSDUHQF\ DFFRXQWDELOLW\ DQG FRPPLWPHQW DQG LQGHSHQGHQW %RDUG 7KH %RDUG HQVXUHV WKDW WKH &RPSDQ\ WR YDOXHV *RRG JRYHUQDQFH SUDFWLFHV VWHP IURP WKH FXOWXUH complies with all relevant laws, regulations, governance practices, DQGPLQGVHWRIWKHRUJDQL]DWLRQ7KHHIIHFWLYHQHVVRIFRUSRUDWH DFFRXQWLQJ DQG DXGLWLQJ VWDQGDUGV ,W LGHQWL¿HV NH\ ULVN DUHDV governance in the company depends on regular review, preferably DQGNH\SHUIRUPDQFHLQGLFDWRUVRIWKH&RPSDQ\¶VEXVLQHVVDQG UHJXODULQGHSHQGHQWUHYLHZ FRQVWDQWO\PRQLWRUWKHVHIDFWRUV

The Company considers fair and transparent corporate governance 7KH %RDUG LV HQWUXVWHG ZLWK WKH XOWLPDWH UHVSRQVLELOLW\ RI WKH DV RQH RI LWV PRVW FRUH PDQDJHPHQW WHQHWV 7KH &RPSDQ\ management, general affairs direction and performance of has adopted a Code of Conduct for its directors, employees, WKH &RPSDQ\ DQG KDV EHHQ YHVWHG ZLWK WKH UHTXLVLWH SRZHUV consultants, vendors and customers and has also adopted a Code DXWKRULWLHVDQGGXWLHV of Conduct to regulate, monitor and report trading by insiders and a Code of Practices and Procedures for fair disclosure of %2$5'6,=($1'&20326,7,21 8QSXEOLVKHG 3ULFH 6HQVLWLYH ,QIRUPDWLRQ 6RPH RI WKH LPSRUWDQW best practices of corporate governance framework are timely and 7KH%RDUGRI'LUHFWRUV ³%RDUG´ LVDWWKHFRUHRIWKH&RPSDQ\¶V DFFXUDWHGLVFORVXUHRILQIRUPDWLRQUHJDUGLQJWKH¿QDQFLDOSRVLWLRQ corporate governance practices and oversees how the SHUIRUPDQFHRZQHUVKLSDQGJRYHUQDQFHRIWKH&RPSDQ\ management serves and protects the long term interests of all the VWDNHKROGHUV7KH&RPSDQ\EHOLHYHVWKDWDQDFWLYHZHOOLQIRUPHG 3+,/2623+<21&2'(2)*29(51$1&( DQGLQGHSHQGHQW%RDUGLVQHFHVVDU\WRDFKLHYHKLJKHVWVWDQGDUGV RIFRUSRUDWHJRYHUQDQFH The corporate governance philosophy of HCL Technologies Limited (the “Company”) is based on the following principles: 7KH %RDUG RI WKH &RPSDQ\ KDV DQ RSWLPXP FRPELQDWLRQ RI ([HFXWLYH 1RQ([HFXWLYH DQG ,QGHSHQGHQW 'LUHFWRUV ZKR KDYH x )ROORZWKHVSLULWDQGQRWMXVWWKHOHWWHURIWKHODZ&RUSRUDWH DQLQGHSWKNQRZOHGJHRIEXVLQHVVLQDGGLWLRQWRWKHH[SHUWLVHLQ JRYHUQDQFHVWDQGDUGVVKRXOGJREH\RQGWKHODZ WKHLUDUHDVRIVSHFLDOL]DWLRQ'XULQJWKH\HDUPDMRULW\RIWKH%RDUG FRPSULVHGRI,QGHSHQGHQW'LUHFWRUV,QGHSHQGHQW'LUHFWRUVSOD\D x %HWUDQVSDUHQWDQGPDLQWDLQKLJKGHJUHHRIGLVFORVXUHOHYHOV FULWLFDOUROHLQLPSDUWLQJEDODQFHWRWKH%RDUGSURFHVVHVE\EULQJLQJ :KHQLQGRXEWGLVFORVH LQGHSHQGHQW MXGJPHQWV RQ LVVXHV RI VWUDWHJ\ SHUIRUPDQFH UHVRXUFHVFRQGXFWHWF x 0DNHDFOHDUGLVWLQFWLRQEHWZHHQSHUVRQDOFRQYHQLHQFHDQG FRUSRUDWHUHVRXUFHV $V RQ 0DUFK WKH %RDUG RI 'LUHFWRUV RI WKH &RPSDQ\ FRQVLVWVRIWZHOYHPHPEHUVRIZKLFKWKUHHDUH:RPHQ'LUHFWRUV x Communicate externally, in a truthful manner, about how the 7KH %RDUG FRQVLVWV RI RQH 0DQDJLQJ 'LUHFWRU DQG HOHYHQ 1RQ &RPSDQ\UXQVLQWHUQDOO\ ([HFXWLYH'LUHFWRUVRIZKLFKQLQHDUH,QGHSHQGHQW'LUHFWRUV7KH 0DQDJLQJ'LUHFWRULVWKH3URPRWHU'LUHFWRUwhich is designated as x Have a simple and transparent corporate structure driven WKH&KDLUPDQ &KLHI6WUDWHJ\2I¿FHURIWKH&RPSDQ\ VROHO\E\EXVLQHVVQHHGV $SSRLQWPHQW V 5HDSSRLQWPHQW V x Comply with the laws of all the countries in which the Company RSHUDWHV 7KHIROORZLQJ'LUHFWRUVZHUHDSSRLQWHGUHDSSRLQWHGGXULQJWKH ¿QDQFLDO\HDUXQGHUUHYLHZ± x 0DQDJHPHQW LV WKH WUXVWHH RI VKDUHKROGHUV¶ FDSLWDO DQG QRW WKHRZQHU $SSRLQWPHQWV

Corporate governance is an integral part of the philosophy of 'U0RKDQ&KHOODSSD ',1 ZDVDSSRLQWHGDVDQ the Company in its pursuit of excellence, growth and value $GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW FUHDWLRQ,QDGGLWLRQWRFRPSO\LQJZLWKWKHVWDWXWRU\UHTXLUHPHQWV 'LUHFWRUZHI$XJXVWDQGKDVEHHQUHFRPPHQGHGIRU effective governance systems and practices towards improving DSSRLQWPHQWDVD1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRULQWKH transparency, disclosures, internal control and promotion of ethics HQVXLQJ$*0RIWKH&RPSDQ\WREHKHOGLQWKH\HDUIRUD DWZRUNSODFHKDYHEHHQLQVWLWXWLRQDOL]HG7KH&RPSDQ\UHFRJQL]HV SHULRGRI¿YHFRQVHFXWLYH\HDUV that good governance is a continuing exercise and reiterates its commitment to pursue highest standards of corporate governance 0U 6KLNKDU 1HHONDPDO 0DOKRWUD ',1 ZDV in the overall interest of its stakeholders. DSSRLQWHG DV DQ $GGLWLRQDO 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ ([HFXWLYH 1RQ,QGHSHQGHQW 'LUHFWRU ZHI 2FWREHU BOARD OF DIRECTORS DQG KDV EHHQ UHFRPPHQGHG IRU DSSRLQWPHQW DV D 1RQ ([HFXWLYH1RQ,QGHSHQGHQW'LUHFWRULQWKHHQVXLQJ$*0RIWKH 7KH%RDUGRI'LUHFWRUV ³%RDUG´ GHWHUPLQHVWKHSXUSRVHDQGYDOXHV &RPSDQ\WREHKHOGLQWKH\HDUOLDEOHWRUHWLUHE\URWDWLRQ

Annual Report 2019-20 128 0U 6LPRQ -RKQ (QJODQG ',1 ZDV DSSRLQWHG WKH %RDUG LQ LWV PHHWLQJ KHOG RQ 0D\ UHFRPPHQGHG DV DQ $GGLWLRQDO 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ([HFXWLYH WR WKH VKDUHKROGHUV RI WKH &RPSDQ\ WKH UHDSSRLQWPHQW RI ,QGHSHQGHQW 'LUHFWRU ZHI -DQXDU\ DQG KDV 0U7KRPDV6LHEHUDV,QGHSHQGHQW'LUHFWRUIRUDVHFRQGWHUPRI EHHQ UHFRPPHQGHG IRU DSSRLQWPHQW DV D 1RQ([HFXWLYH ¿YHFRQVHFXWLYH\HDUV ,QGHSHQGHQW'LUHFWRULQWKHHQVXLQJ$*0RIWKH&RPSDQ\WR EHKHOGLQWKH\HDUIRUDSHULRGRI¿YHFRQVHFXWLYH\HDUV &HVVDWLRQ V

5HDSSRLQWPHQWV 0U 6XGKLQGDU .ULVKDQ .KDQQD ',1 D 1RQ ([HFXWLYH 1RQ,QGHSHQGHQW 'LUHFWRU RI WKH &RPSDQ\ 0U56ULQLYDVDQ0V5RELQ$QQ$EUDPV'U6RVDOH6KDQNDUD UHVLJQHGIURPWKH%RDUGRIWKH&RPSDQ\ZHI$SULO 6DVWU\DQG0U60DGKDYDQZHUHUHDSSRLQWHGDV,QGHSHQGHQW GXHWRKHDOWKUHDVRQV7KHUHDUHQRPDWHULDOUHDVRQVIRUKLV Directors of the Company by way of special resolution for a UHVLJQDWLRQRWKHUWKDQWKRVHVWDWHGKHUHLQ VHFRQGWHUPRI¿YHFRQVHFXWLYH\HDUVDWWKH7ZHQW\6HYHQWK $*0RIWKH&RPSDQ\KHOGRQ$XJXVW 0U-DPHV3KLOLS$GDPF]\N ',1 D1RQ([HFXWLYH Independent Director of the Company, ceased to be the Director 0U7KRPDV6LHEHUZDVDSSRLQWHGDVDQ,QGHSHQGHQW'LUHFWRURI RIWKH&RPSDQ\ZHI2FWREHUGXHWRKLVGHPLVH WKH&RPSDQ\DWWKH7ZHQW\7KLUG$*0RIWKH&RPSDQ\KHOGRQ 'HFHPEHUIRUDSHULRGRI¿YHFRQVHFXWLYH\HDUV+LV 7KH%RDUGSODFHGRQUHFRUGLWVVLQFHUHDSSUHFLDWLRQDQGJUDWLWXGH ¿UVWWHUPRIDSSRLQWPHQWVKDOOHQGDWWKHFRQFOXVLRQRIWKHHQVXLQJ IRU WKH YDOXDEOH VHUYLFHV JXLGDQFH DQG FRQWULEXWLRQ RI 0U $*0RIWKH&RPSDQ\WREHKHOGLQWKH\HDU&RQVLGHULQJKLV 6XGKLQGDU .ULVKDQ .KDQQD DQG 0U -DPHV 3KLOLS $GDPF]\N WR immense contribution towards the Company and pursuant to the WKH&RPSDQ\GXULQJWKHLUWHQXUHDVDPHPEHURIWKH%RDUGLWV recommendation of the Nomination and Remuneration Committee, &RPPLWWHHV

&RPSRVLWLRQRIWKH%RDUGDQGQXPEHURI'LUHFWRUVKLS V DQG&RPPLWWHH0HPEHUVKLS V &KDLUPDQVKLS V KHOGDVRQ0DUFK LQWKH&RPSDQ\DQGLQRWKHUHQWLWLHVLVDVIROORZV

7KH%RDUGSODFHGRQUHFRUGLWVVLQFHUHDSSUHFLDWLRQDQGJUDWLWXGHIRUWKHYDOXDEOHVHUYLFHVJXLGDQFHDQGFRQWULEXWLRQRI0U6XGKLQGDU .ULVKDQ.KDQQDDQG0U-DPHV3KLOLS$GDPF]\NWRWKH&RPSDQ\GXULQJWKHLUWHQXUHDVDPHPEHURIWKH%RDUGLWV&RPPLWWHHV No. of No. of 1RRI&RPPLWWHH &RPPLWWHH 2WKHU/LVWHG 'LUHFWRUVKLSVLQ &KDLUPDQVKLSV No. of shares PHPEHUVKLSVLQ &RPSDQLHVZKHUH 3XEOLF/LPLWHG LQ3XEOLF/LPLWHG KHOGRI+&/ 1DPHRI'LUHFWRU Position in the 3XEOLF/LPLWHG WKH'LUHFWRULV &RPSDQLHV &RPSDQLHV 7HFKQRORJLHV DQG',1 &RPSDQ\ (including HCL &RPSDQLHV (including HCL DSSRLQWHGDV (including HCL /LPLWHG a Technologies Technologies 1RQ([HFXWLYH Technologies RI൘HDFK Limited) Limited) ,QGHSHQGHQW'LUHFWRU Limited) 0U6KLY1DGDU Chairman & Chief ',1 6WUDWHJ\2I¿FHU 1RQ([HFXWLYH 0U'HHSDN.DSRRU Independent 5 Nil 7$7$6WHHO/LPLWHG ',1 Director 8)20RYLH],QGLD/LPLWHG *OD[R6PLWK.OLQH&RQVXPHU 1RQ([HFXWLYH 0U60DGKDYDQ Healthcare Limited Independent 7 ',1 Director 7UDQVSRUW&RUSRUDWLRQRI India Limited ,&,&,%DQN/LPLWHG 'U0RKDQ 1RQ([HFXWLYH Chellappa Independent Nil ',1 Director / 7,QIUD'HEW)XQG/LPLWHG 1RQ([HFXWLYH / 7)LQDQFH+ROGLQJV 0V1LVKL9DVXGHYD Independent 8 Nil Limited ',1 Director $%%3RZHU3URGXFWVDQG Systems India Limited 1RQ([HFXWLYH 0V5RELQ$QQ$EUDPV Independent Nil ',1 Director 0V5RVKQL1DGDU 1RQ([HFXWLYH +')&$VVHW0DQDJHPHQW 0DOKRWUD 1RQ,QGHSHQGHQW Company Limited ',1 Director 'U6RVDOH6KDQNDUD 1RQ([HFXWLYH Sastry Independent Nil ',1 Director 0U6KLNKDU1HHONDPDO 1RQ([HFXWLYH 0DOKRWUD 1RQ,QGHSHQGHQW Nil ',1 Director 129 Corporate Governance Report No. of No. of 1RRI&RPPLWWHH &RPPLWWHH 2WKHU/LVWHG 'LUHFWRUVKLSVLQ &KDLUPDQVKLSV No. of shares PHPEHUVKLSVLQ &RPSDQLHVZKHUH 3XEOLF/LPLWHG LQ3XEOLF/LPLWHG KHOGRI+&/ 1DPHRI'LUHFWRU Position in the 3XEOLF/LPLWHG WKH'LUHFWRULV &RPSDQLHV &RPSDQLHV 7HFKQRORJLHV DQG',1 &RPSDQ\ (including HCL &RPSDQLHV (including HCL DSSRLQWHGDV (including HCL /LPLWHG a Technologies Technologies 1RQ([HFXWLYH Technologies RI൘HDFK Limited) Limited) ,QGHSHQGHQW'LUHFWRU Limited) 1RQ([HFXWLYH 0U56ULQLYDVDQ Independent Nil ',1 Director 0U6LPRQ-RKQ 1RQ([HFXWLYH England Independent Nil ',1 Director 1RQ([HFXWLYH 0U7KRPDV6LHEHU Independent Nil ',1 Director Notes: ,QDFFRUGDQFHZLWK5HJXODWLRQRIWKH6(%, /LVWLQJ2EOLJDWLRQVDQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQV0HPEHUVKLS V &KDLUPDQVKLS V RIRQO\$XGLW&RPPLWWHHVDQG6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHHVLQDOOSXEOLFOLPLWHGFRPSDQLHVKDYHEHHQFRQVLGHUHG 0U6KLY1DGDUDQG0V5RVKQL1DGDU0DOKRWUDDUHUHODWHGDV)DWKHUDQG'DXJKWHU)XUWKHU0U6KLNKDU1HHONDPDO0DOKRWUDDQG0V5RVKQL1DGDU 0DOKRWUDDUHUHODWHGDV+XVEDQGDQG:LIH3XUVXDQWWRWKLVUHODWLRQVKLS0U6KLY1DGDUDQG0U6KLNKDU1HHONDPDO0DOKRWUDDUHDOVRUHODWHGWRHDFK RWKHUDV)DWKHU,Q/DZDQG6RQ,Q/DZ([FHSWWKLVQRRWKHU'LUHFWRULVUHODWHGWRDQ\RWKHU'LUHFWRURQWKH%RDUG 0U60DGKDYDQFHDVHGWREHWKH'LUHFWRURI*OD[R6PLWK.OLQH&RQVXPHU+HDOWKFDUH/LPLWHGDFFRUGLQJO\FHDVHGWREHWKH&KDLUPDQRIWKH$XGLW &RPPLWWHHZHI$SULO 'U0RKDQ&KHOODSSDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI$XJXVW 0U6KLNKDU1HHONDPDO0DOKRWUDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH1RQ,QGHSHQGHQW'LUHFWRUZHI2FWREHU 0U6LPRQ-RKQ(QJODQGZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI-DQXDU\

%5,()352),/(2)7+(%2$5'0(0%(56 EHHQDVVRFLDWHGZLWKLWIRU\HDUV'XULQJKLVLOOXVWULRXVFDUHHUZLWK PwC, he served in various leadership and client service roles in India 0U6KLY1DGDU DQGRYHUVHDV+HZDVDOVRDPHPEHURIWKH3Z&*OREDO6WUDWHJ\ Council, led the Deals practice for PwC India and was also the leader 0U6KLY1DGDUDJHG\HDUVLVWKH)RXQGHU &KDLUPDQRI+&/ RI 7HOHFRP (QWHUWDLQPHQW DQG 0HGLD SUDFWLFH +H KDV H[WHQVLYH 7HFKQRORJLHV /LPLWHG DQG 6KLY 1DGDU )RXQGDWLRQ $Q (OHFWULFDO Engineer from Coimbatore in South India, he established HCL as H[SHULHQFH H[SHUWLVH LQ DUHDV UHODWLQJ WR ¿QDQFLDO UHSRUWLQJ DXGLWPHUJHUVDQGDFTXLVLWLRQVFULVLVPDQDJHPHQWDQGFRUSRUDWH D VWDUWXS LQ $FNQRZOHGJHG DV D YLVLRQDU\ E\ WKH ,7 LQGXVWU\ DGYLVRU\ZRUN+LVH[SHULHQFHLQ,QGLDDQGRYHUVHDVHQFRPSDVVHV DQG KLV SHHUV 0U 6KLY 1DGDU KDV RIWHQ PDGH GDULQJ IRUD\V EDVHG PXOWLSOH VHFWRUV LQFOXGLQJ &RQVXPHU SURGXFWV 0DQXIDFWXULQJ RQ KLV FRQYLFWLRQ RI WKH IXWXUH 7KH 8QLYHUVLW\ RI 0DGUDV DQG ,,7 7HOHFRP7HFKQRORJ\+HDOWKFDUH(QWHUWDLQPHQWDQG0HGLD+HLVD .KDUDJSXU DZDUGHG KLP DQ +RQRUDU\ 'RFWRUDWH 'HJUHH LQ 6FLHQFH Fellow member of the Institute of Chartered Accountants of India, a IRU KLV RXWVWDQGLQJ FRQWULEXWLRQ WR ,7 LQ ,QGLD ,Q UHFRJQLWLRQ RI KLV Fellow member of the Institute of Company Secretaries of India and pioneering role in business and philanthropy in India and across DPHPEHURIWKH&HUWL¿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

131 Corporate Governance Report 0U56ULQLYDVDQ SUR¿OHRXWVRXUFHGRSHUDWLRQIRU1+6(QJODQG+HLVDFFRPSOLVKHG LQ DSSO\LQJ WHFKQRORJ\ WR DFKLHYH EXVLQHVV UHVXOWV FUHDWLQJ 0U 5 6ULQLYDVDQ DJHG \HDUV KDV DQ (OHFWULFDO (QJLQHHULQJ digital operations, shaping, planning and leading operational 'HJUHH IURP 0DGUDV 8QLYHUVLW\ DQG 0%$ 'HJUHH IURP WKH ,,0 transformation and performance improvement programmes and $KPHGDEDG +H LV WKH )RXQGHU RI 5HGLQJWRQ ,QGLD /LPLWHG D technology enabled business change at scale, and is experienced Technology Products Supply Chain Solution Company operating LQOHDGLQJRQDQGRIIVKRUHRXWVRXUFHGRSHUDWLRQV+HLVDQH[SHUW LQ,QGLD0LGGOH(DVW$IULFD 7XUNH\6UL/DQND%DQJODGHVKDQG in complex stakeholder and commercial management, and &,6FRXQWULHV+HKDVVHUYHGDVWKH0DQDJLQJ'LUHFWRUIURP-XO\ RUJDQLVDWLRQWXUQDURXQG+HLVLQYROYHGLQWKH8.$UWVVHFWRUDQG WR2FWREHUDQGDVWKH1RQ([HFXWLYH9LFH&KDLUPDQ OHG$FFHQWXUH¶VUHODWLRQVKLSZLWKWKH%ULJKW,GHDV7UXVW±KHOSLQJ IURP2FWREHUWR)HEUXDU\RI5HGLQJWRQ ,QGLD /LPLWHG QXUWXUHQHZHQWUHSUHQHXUVIURPGLVDGYDQWDJHGFRPPXQLWLHV+H Prior to starting Redington in Singapore, he spent three years in DOVRZRUNHGFORVHO\ZLWK:KL]].LG]±DQHQHUJHWLFFKDULW\WKDWLV ,QGRQHVLD ZLWK D OHDGLQJ WH[WLOH FRPSDQ\ +LV H[SHULHQFH DOVR transforming the delivery and management of wheelchair services, LQFOXGHV D QXPEHU RI \HDUV ZLWK 5HDGHUV 'LJHVW DQG WKH &RFD ZLWKWKH1+6IRUFKLOGUHQDFURVVPDQ\SDUWVRIWKH8. &ROD&RUSRUDWLRQLQ,QGLD+HKDVRYHU\HDUVRIPDQDJHPHQW H[SHULHQFH DFURVV WKH JOREH +H KDV EHHQ DZDUGHG WKH 0U7KRPDV6LHEHU ³(QWUHSUHQHXU$ZDUG ´ E\ &,,7DPLO1DGX DQG ³2XWVWDQGLQJ FRQWULEXWLRQWRWKH,7&KDQQHO,QGXVWU\´E\&51LQ 0U7KRPDV6LHEHUDJHG\HDUVKDVD%XVLQHVV$GPLQLVWUDWLRQ GHJUHHIURPWKH8QLYHUVLW\RI6W*DOOHQ6ZLW]HUODQG+HLVVHUYLQJ 0U6LPRQ-RKQ(QJODQG DVWKH&KDLUPDQRI$[SR+ROGLQJ$*ZKLFKLVWKHODUJHVWQDWLRQDO (QHUJ\SURYLGHULQ6ZLW]HUODQG+HLVDOVRDPHPEHURI%RDUGRI 0U6LPRQ-RKQ(QJODQGDJHG\HDUVKDVDGHJUHHLQ(QJLQHHULQJ 'LUHFWRUV DW 6LHUUD :LUHOHVV WKH *OREDO OHDGHU LQ ,R7 ³,QWHUQHW IURPWKH8QLYHUVLW\RI'XUKDPDQGKDVRYHU\HDUVRIH[SHULHQFH RI7KLQJV´ DQGDW,7VHUYLFHVSURYLGHU*DUDLR$*)RUPHUO\KH of leading, transforming and growing organisations across the ZDV WKH &(2 RI 2UDQJH 6ZLW]HUODQG QRZ 6DOW 0RELOH 6$ DQG SXEOLFDQGSULYDWHVHFWRU+HKDVVSHQWPXFKRIKLVFDUHHUZRUNLQJ ODWHURQEHFDPHWKH&KDLUPDQRIWKH%RDUGRI'LUHFWRUV+HKDV ZLWK 8. DQG *OREDO ,QVXUHUV +HDOWKFDUH SURYLGHUV DQG ZLWK WKH DQH[SHUWLVHLQ/HDGHUVKLS6WUDWHJLFDQG,QWHUQDWLRQDO%XVLQHVV 8. *RYHUQPHQW +H LV D SDUWQHU LQ WKH VSHFLDOLVW DGYLVRU\ ¿UP 0DQDJHPHQW *DUZRRG6ROXWLRQVZKHUHKHSURYLGHVLQGHSHQGHQWVWUDWHJLFDQG business advice to clients in the Professional Services, Financial 6800$5<2)',5(&72RS’ 6.,//6(;3(57,6( 6HUYLFHV+HDOWKDQG7HFKQRORJ\VHFWRUV+HVSHQW\HDUVZLWK $FFHQWXUH DQG OHG VHYHUDO RI $FFHQWXUH¶V ODUJHVW EXVLQHVVHV In order to effectively discharge its duties, it is necessary that DQG JOREDO FOLHQW UHODWLRQVKLSV LQFOXGLQJ 0DQDJLQJ 'LUHFWRU RI collectively the Directors hold the appropriate balance of skills, $FFHQWXUH¶V 8. DQG ,UHODQG ,QVXUDQFH EXVLQHVV DQG SULRU WR H[SHULHQFH DQG H[SHUWLVH 7KH %RDUG VHHNV D FRPSOHPHQWDU\ WKDW WKH 8. +HDOWKFDUH EXVLQHVV +H ZDV 0DQDJLQJ 'LUHFWRU diversity of skills and experience across its members, ensuring of Primary Care Support England (PCSE) for Capita where he WKDW WKH %RDUG LV LQ FRPSOLDQFH ZLWK WKH KLJKHVW VWDQGDUGV RI led the recovery and turnaround of this large, complex and high FRUSRUDWHJRYHUQDQFH

7KH%RDUG¶VFXUUHQW6NLOOV0DWUL[DVLGHQWL¿HGE\WKH%RDUGLQFOXGHVWKHIROORZLQJDWWULEXWHV 0U 0U 0U6 'U0RKDQ 0V1LVKL 0V 0V Dr. Sosale 0U 0U5 0U6LPRQ 0U 6KLY Deepak 0DGKDYDQ Chellappa 9DVXGHYD 5RELQ Roshni Shankara Shikhar 6ULQLYDVDQ -RKQ 7KRPDV 1DGDU Kapoor Ann 1DGDU Sastry 1HHONDPDO (QJODQG 6LHEHU $EUDPV 0DOKRWUD 0DOKRWUD /HDGHUVKLS YYYY YYYYY Y YY Innate leadership skills including the ability to represent the organization DQG VHW DSSURSULDWH %RDUG DQG RUJDQL]DWLRQ FXOWXUH Demonstrated strengths in talent development, succession planning and bringing change and long WHUPIXWXUHJURZWK 6WUDWHJLF3ODQQLQJDQG YY Y Y Y Y Y Y Y Y Y Y Analysis Ability to critically identify and assess strategic opportunities and threats and develop effective strategies in the context of ORQJWHUP REMHFWLYHV DQG WKH RUJDQL]DWLRQV¶ UHOHYDQW SROLFLHVDQGSULRULWLHV 7HFKQRORJ\ Y YYYYYYYY Reasonable knowledge and experience in technology with an ability to foresee technological trends and changes, apply new technology and bring about innovations in EXVLQHVVVWUDWHJLHV

Annual Report 2019-20 132 0U 0U 0U6 'U0RKDQ 0V1LVKL 0V 0V Dr. Sosale 0U 0U5 0U6LPRQ 0U 6KLY Deepak 0DGKDYDQ Chellappa 9DVXGHYD 5RELQ Roshni Shankara Shikhar 6ULQLYDVDQ -RKQ 7KRPDV 1DGDU Kapoor Ann 1DGDU Sastry 1HHONDPDO (QJODQG 6LHEHU $EUDPV 0DOKRWUD 0DOKRWUD *RYHUQDQFH YY Y Y Y Y Y YYY 8QGHUVWDQGLQJ RI WKH YDULRXV governance and compliance UHTXLUHPHQWV XQGHU YDULRXV applicable laws, supporting D VWURQJ %RDUG EDVH DQG management accountability, transparency, and protection RIVKDUHKROGHULQWHUHVWV

)LQDQFLDO YY Y YYY YYY :LGHUDQJLQJNQRZOHGJHDQG ¿QDQFLDO VNLOOV RYHUVLJKW IRU risk management and internal FRQWUROV DQG SUR¿FLHQF\ LQ ¿QDQFLDO PDQDJHPHQW DQG ¿QDQFLDOUHSRUWLQJSURFHVVHV

'LYHUVLW\ Y YYYYYYYYY An appropriate mix of varied cultures, ethnicity, geography, gender, age, philosophies, life experiences and other diversity perspectives that expand the %RDUG¶V XQGHUVWDQGLQJ RI WKH needs of diverse stakeholders and a better ability to respond WRFKDQJHV

0HUJHUV $FTXLVLWLRQV YY YYYYYY Y 6LJQL¿FDQW H[SHULHQFH LQ PHUJHUVDQGDFTXLVLWLRQVDQG other business combinations, with strong insight of risks and opportunities, valuations and diligence processes, structural impact on the organization, and ability to OHYHUDJHLQWHJUDWLRQSODQQLQJ

*OREDO%XVLQHVV Y YY YYYYYYY 8QGHUVWDQGLQJ RI GLYHUVL¿HG business environments, economic, political, cultural and regulatory framework across the globe, and a broad perspective RQJOREDOPDUNHWRSSRUWXQLWLHV

0DUNHWLQJDQG Y YYYY YYY &RPPXQLFDWLRQV Ability to analyze the market and technological impacts, developing strategies for brand awareness and brand building DQGHQKDQFLQJPDUNHWVKDUH

0(0%(56+,32127+(5%2$5'6 DIRECTORS’ RESPONSIBILITIES

Executive Director is also allowed to serve on the board / committee a) In addition to the duties and responsibilities entrusted on of other corporate(s) or government bodies whose interest is the Directors of the Company as per the provisions of the germane to the future of software business or on the board of key &RPSDQLHV$FW ³$FW´ LWLVWKHHOHPHQWDU\UHVSRQVLELOLW\ HFRQRPLFLQVWLWXWLRQVRIWKHQDWLRQRUZKRVHSULPDU\REMHFWLYHLV RI WKH %RDUG PHPEHUV WR RYHUVHH WKH PDQDJHPHQW RI WKH EHQH¿WLQJWKHVRFLHW\ Company and in doing so, serve the best interests of the &RPSDQ\ DQG LWV VWDNHKROGHUV 7KLV UHVSRQVLELOLW\ LQWHUDOLD Independent Directors are expected not to serve on the board / shall include: FRPPLWWHHVRIFRPSHWLQJFRPSDQLHV2WKHUWKDQWKLVWKHUHLVQR limitation on the directorships / committee memberships except Ȉ 5HYLHZLQJDQGDSSURYLQJIXQGDPHQWDORSHUDWLQJ¿QDQFLDO WKRVHLPSRVHGE\ODZDQGJRRGFRUSRUDWHJRYHUQDQFH DQGRWKHUFRUSRUDWHSODQVVWUDWHJLHVDQGREMHFWLYHV

133 Corporate Governance Report Ȉ Evaluating whether the corporate resources are being %RDUGPDWHULDODJHQGDGLVWULEXWHGLQDGYDQFH The agenda XVHGRQO\IRUDSSURSULDWHEXVLQHVVSXUSRVHV IRU HDFK %RDUG PHHWLQJ LV FLUFXODWHG LQ DGYDQFH WR WKH %RDUG PHPEHUV$OO PDWHULDO LQIRUPDWLRQ LV LQFRUSRUDWHG LQ WKH DJHQGD Ȉ Establishing a corporate environment that promotes IDFLOLWDWLQJ PHDQLQJIXO DQG IRFXVHG GLVFXVVLRQV LQ WKH PHHWLQJ timely and effective disclosure (including robust and :KHUHLWLVQRWSUDFWLFDEOHWRDWWDFKDQ\GRFXPHQWLQWKHDJHQGD DSSURSULDWH FRQWUROV SURFHGXUHV DQG LQFHQWLYHV ¿VFDO WKHVDPHLVWDEOHGEHIRUHWKHPHHWLQJ(YHU\%RDUGPHPEHULVIUHH responsibilty, high ethical standards and compliance with WRVXJJHVWLWHPVIRULQFOXVLRQLQWKHDJHQGD DOODSSOLFDEOHODZVDQGUHJXODWLRQV 3UHVHQWDWLRQVE\PDQDJHPHQW7KH%RDUGLVJLYHQSUHVHQWDWLRQV Ȉ Evaluating the performance of the Company and its FRYHULQJ ¿QDQFH VDOHV PDUNHWLQJ PDMRU EXVLQHVV VHJPHQWV senior executives and taking appropriate action, including and operations of the Company, global business environment UHPRYDOZKHUHZDUUDQWHG including business opportunities, business strategy and the risk PDQDJHPHQWSUDFWLFHVEHIRUHWDNLQJRQUHFRUGWKH¿QDQFLDOUHVXOWV Ȉ (YDOXDWLQJWKHRYHUDOOHIIHFWLYHQHVVRIWKH%RDUGDQGLWV RIWKH&RPSDQ\ &RPPLWWHHV $FFHVV WR HPSOR\HHV The directors are provided free access Ȉ $WWHQGLQJ%RDUG&RPPLWWHHDQG6KDUHKROGHUV¶PHHWLQJV WRFRPPXQLFDWHZLWKWKHRI¿FHUVDQGHPSOR\HHVRIWKH&RPSDQ\ 0DQDJHPHQWLVHQFRXUDJHGWRLQYLWHWKH&RPSDQ\SHUVRQQHOWRDQ\ E ([HUFLVH EXVLQHVV MXGJPHQW ,Q GLVFKDUJLQJ WKHLU ¿GXFLDU\ %RDUG PHHWLQJ DW ZKLFK WKHLU SUHVHQFH DQG H[SHUWLVH ZRXOG KHOS duties of care and loyalty, the Directors are expected to exercise WKH %RDUG DQGRU &RPPLWWHHV WR KDYH D IXOO XQGHUVWDQGLQJ RI WKH WKHLUEXVLQHVVMXGJPHQWWRDFWLQZKDWWKH\UHDVRQDEO\EHOLHYH PDWWHUVEHLQJFRQVLGHUHG WREHLQWKHEHVWLQWHUHVWVRIWKH&RPSDQ\DQGLWVVWDNHKROGHUV $YDLODELOLW\RILQIRUPDWLRQWR%RDUGPHPEHUV The information F 8QGHUVWDQGWKH&RPSDQ\DQGLWVEXVLQHVV The Directors SODFHG EHIRUH WKH %RDUG LQFOXGHV DQQXDO RSHUDWLQJ SODQV DQG have an obligation to remain informed about the Company and budgets including operating and capital expenditure budgets, LWVEXVLQHVVLQFOXGLQJWKHSULQFLSDORSHUDWLRQDODQG¿QDQFLDO TXDUWHUO\ ¿QDQFLDO UHVXOWV RI WKH &RPSDQ\ ERWK FRQVROLGDWHG REMHFWLYHV VWUDWHJLHV DQG SODQV RI WKH &RPSDQ\ UHODWLYH DQGVWDQGDORQH EDVLV¿QDQFLDOV RIHDFKRIWKHVXEVLGLDULHV DQG standing of the business segments within the Company investments made by the subsidiaries, risk assessment and DQG YLVDYLV WKH FRPSHWLWRUV RI WKH &RPSDQ\ IDFWRUV WKDW minimization procedures, update on the state of the market for GHWHUPLQH WKH &RPSDQ\¶V VXFFHVV UHVXOWV RI RSHUDWLRQV the business as well as on the strategy, minutes of subsidiaries, DQG ¿QDQFLDO FRQGLWLRQ RI WKH &RPSDQ\ DQG WKH VLJQL¿FDQW PLQXWHVRIDOOWKH%RDUG&RPPLWWHHVUHODWHGSDUW\WUDQVDFWLRQV VXEVLGLDULHVDQGEXVLQHVVVHJPHQWV details of the treasury investments, details of foreign exchange exposure, update on statutory compliance report and reports of G (VWDEOLVKHIIHFWLYHV\VWHPV The Directors are responsible QRQFRPSOLDQFHVLIDQ\LQIRUPDWLRQRQUHFUXLWPHQWUHPXQHUDWLRQ for determining that effective systems are in place for periodic RIVHQLRURI¿FHUVVKRZFDXVHGHPDQGQRWLFHVLIDQ\GHWDLOVRI DQG WLPHO\ UHSRUWLQJ WR WKH %RDUG RQ LPSRUWDQW PDWWHUV MRLQWYHQWXUHVRUFROODERUDWLRQDJUHHPHQWVVLJQL¿FDQWFKDQJHVLQ concerning the Company including the following: WKHDFFRXQWLQJSROLFLHVVDOHRIDQ\PDWHULDOQDWXUHHWF

Ȉ &XUUHQW EXVLQHVV DQG ¿QDQFLDO SHUIRUPDQFH GHJUHH RI 3RVW PHHWLQJ IROORZXSPHFKDQLVP7KH JXLGHOLQHV IRU %RDUG DFKLHYHPHQW RI DSSURYHG REMHFWLYHV DQG WKH QHHG WR and Committee meetings facilitate an effective post meeting follow DGGUHVVIRUZDUGSODQQLQJLVVXHV up review and reporting process for the decisions taken by the %RDUG DQG &RPPLWWHH V WKHUHRI7KH LPSRUWDQW GHFLVLRQV WDNHQ Ȉ &RPSOLDQFH SURJUDPV WR DVVXUH WKH FRPSDQ\¶V DWWKH%RDUG&RPPLWWHHPHHWLQJVDUHSURPSWO\FRPPXQLFDWHGWR FRPSOLDQFHZLWKODZVDQGFRUSRUDWHSROLFHV WKHFRQFHUQHGGHSDUWPHQWVGLYLVLRQV$FWLRQWDNHQUHSRUWRQWKH GHFLVLRQVRIWKHSUHYLRXVPHHWLQJ V LVSODFHGDWWKHVXEVHTXHQW Ȉ 0DWHULDOOLWLJDWLRQJRYHUQPHQWDODQGUHJXODWRU\PDWWHUV PHHWLQJVRIWKH%RDUG&RPPLWWHH V IRULQIRUPDWLRQDQGUHYLHZE\ WKH%RDUG&RPPLWWHH V %2$5'0((7,1*6)81&7,21,1*$1'352&('85( 180%(52)%2$5'0((7,1*6$1'7+('$7(621:+,&+ %RDUG 0HHWLQJ &DOHQGDU 7KH SUREDEOH GDWHV RI WKH %RDUG 7+(<:(5(+(/' meetings for the forthcoming year are decided in advance and SXEOLVKHGDVSDUWRIWKLV$QQXDO5HSRUW )LYH%RDUG0HHWLQJVZHUHKHOGGXULQJWKH¿QDQFLDO\HDUHQGHG0DUFK 7KHVH ZHUH KHOG RQ 0D\ $XJXVW %RDUG0HHWLQJ)UHTXHQF\7KH%RDUGPHHWVDWOHDVWRQFHD 6HSWHPEHU2FWREHUDQG-DQXDU\ TXDUWHUWRUHYLHZWKHTXDUWHUO\UHVXOWVDQGRWKHULWHPVRIWKHDJHQGD 7KHQHFHVVDU\TXRUXPZDVSUHVHQWIRUDOOWKHPHHWLQJV7KHPD[LPXP :KHQHYHU QHFHVVDU\ DGGLWLRQDO PHHWLQJV DUH KHOG ,Q FDVH RI LQWHUYDOEHWZHHQDQ\WZRPHHWLQJVGLGQRWH[FHHGGD\V business exigencies or urgency of matters, resolutions are passed E\ FLUFXODWLRQ7KH &RPSDQ\ HIIHFWLYHO\ XVHV WHOHFRQIHUHQFLQJ 7KH IROORZLQJ WDEOH JLYHV WKH DWWHQGDQFH UHFRUG RI WKH %RDUG YLGHRFRQIHUHQFLQJIDFLOLWLHVWRHQDEOHWKHSDUWLFLSDWLRQRI'LUHFWRUV 0HHWLQJVDQGWKHODVW$*0 ZKRFRXOGQRWDWWHQGWKHPHHWLQJVGXHWRVRPHHPHUJHQFLHV No. of 1RRIERDUG :KHWKHU ERDUG %RDUG0HHWLQJ/RFDWLRQ7KHORFDWLRQRIWKH%RDUGPHHWLQJV 1DPHRIWKH'LUHFWRU PHHWLQJVKHOG ODVW$*0 PHHWLQJV LVLQIRUPHGZHOOLQDGYDQFHWRDOOWKH'LUHFWRUV(DFK'LUHFWRULV GXULQJWHQXUH DWWHQGHG H[SHFWHGWRDWWHQGWKH%RDUGPHHWLQJV DWWHQGHG 0U6KLY1DGDU 55Yes %RDUG0HHWLQJ0DWWHUV All divisions / departments of the Company 0U'HHSDN.DSRRU 5 Yes are advised to schedule their work plans in advance, particularly with UHJDUGWRPDWWHUVUHTXLULQJGLVFXVVLRQVDSSURYDOGHFLVLRQRIWKH 0U-DPHV3KLOLS$GDPF]\N >@ No %RDUG&RPPLWWHHPHHWLQJV$OOVXFKPDWWHUVDUHFRPPXQLFDWHGWR 0U60DGKDYDQ 55Yes the Company Secretary in advance so that the same can be included >@ >@ LQWKH$JHQGDIRUWKH%RDUG&RPPLWWHHPHHWLQJV 'U0RKDQ&KHOODSSD NA Annual Report 2019-20 134 No. of Ȉ WKHTXDOLW\TXDQWLW\DQGWLPHOLQHVVRIÀRZRILQIRUPDWLRQEHWZHHQ 1RRIERDUG :KHWKHU ERDUG WKH&RPSDQ\PDQDJHPHQWDQGWKH%RDUGWKDWLVQHFHVVDU\IRU 1DPHRIWKH'LUHFWRU PHHWLQJVKHOG ODVW$*0 PHHWLQJV WKH%RDUGWRHIIHFWLYHO\DQGUHDVRQDEO\SHUIRUPWKHLUGXWLHV GXULQJWHQXUH DWWHQGHG DWWHQGHG 0V1LVKL9DVXGHYD 55Yes)$0,/,$5,=$7,21 352*5$00( )25 ,1'(3(1'(17 DIRECTORS 0V5RELQ$QQ$EUDPV 55>@ Yes 0V5RVKQL1DGDU0DOKRWUD 55YesThe Directors are provided with necessary documents, reports and 'U6RVDOH6KDQNDUD6DVWU\ 55>@ No LQWHUQDOSROLFLHVWRHQDEOHWKHPWRIDPLOLDUL]HZLWKWKH&RPSDQ\¶V SURFHGXUHVDQGSUDFWLFHV)XUWKHUSHULRGLFSUHVHQWDWLRQVDUHPDGH 0U6KLNKDU1HHONDPDO >@ NA DWWKH%RDUGDQG&RPPLWWHHPHHWLQJVRQEXVLQHVVDQGSHUIRUPDQFH 0DOKRWUD updates of the Company, global business environment, business 0U56ULQLYDVDQ 55>@ Yes VWUDWHJ\DQGULVNVLQYROYHG4XDUWHUO\XSGDWHVRQUHOHYDQWVWDWXWRU\ 0U6LPRQ-RKQ(QJODQG>@ NA FKDQJHVDUHSURYLGHGWRWKH'LUHFWRUVLQWKH%RDUGPHHWLQJV 0U6XGKLQGDU.ULVKDQ NA NA 8SRQDSSRLQWPHQWWKH'LUHFWRUVDUHLVVXHGDOHWWHURIDSSRLQWPHQW .KDQQD>@ setting out in detail the terms of employment including their roles, 0U7KRPDV6LHEHU 5 >@ Yes IXQFWLRQUHVSRQVLELOLWLHVDQGWKHLU¿GXFLDU\GXWLHVDVD'LUHFWRURI Notes: WKH&RPSDQ\ 0U-DPHV3KLOLS$GDPF]\NFHDVHGWREHWKH'LUHFWRURIWKH&RPSDQ\ The details of such familiarization programme for Independent ZHI2FWREHUGXHWRKLVGHPLVH Directors are posted on the website of the Company and are 'U0RKDQ&KHOODSSDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKH available at KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV FDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI$XJXVW %2$5'(9$/8$7,21 0U 6KLNKDU 1HHONDPDO 0DOKRWUD ZDV DSSRLQWHG DV DQ $GGLWLRQDO 'LUHFWRU LQ WKH FDSDFLW\ RI 1RQ([HFXWLYH 1RQ,QGHSHQGHQW 'LUHFWRU 7KH%RDUGRI'LUHFWRUVSXUVXDQWWRWKHSURYLVLRQVRIWKH$FWDQG ZHI2FWREHU 5HJXODWLRQ RI WKH /LVWLQJ 5HJXODWLRQV KDV FDUULHG RXW DQ 0U6LPRQ-RKQ(QJODQGZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKH Annual Evaluation of its own performance, performance of the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

DECLARATION BY INDEPENDENT DIRECTORS 7KHSHUIRUPDQFHRIWKH%RDUGDVDZKROHZDVHYDOXDWHGE\WKH %RDUGDIWHUVHHNLQJLQSXWVIURPDOOWKHGLUHFWRUVRQWKHEDVLVRIWKH (YHU\ ,QGHSHQGHQW 'LUHFWRU DW WKH ¿UVW PHHWLQJ RI WKH %RDUG FULWHULDVXFKDVWKH%RDUGFRPSRVLWLRQDQGVWUXFWXUHHIIHFWLYHQHVV LQ ZKLFK KH SDUWLFLSDWHV DV D 'LUHFWRU DQG WKHUHDIWHU DW WKH ¿UVW RIERDUGSURFHVVHVLQIRUPDWLRQDQGIXQFWLRQLQJHWF PHHWLQJRIWKH%RDUGLQHYHU\¿QDQFLDO\HDUJLYHVDGHFODUDWLRQ that he meets the criteria of Independence as provided under 7KH SHUIRUPDQFH RI WKH %RDUG &RPPLWWHHV ZDV HYDOXDWHG E\ 6HFWLRQ RIWKH&RPSDQLHV$FW ³$FW´ DQG5HJXODWLRQ WKH %RDUG DIWHU VHHNLQJ LQSXWV IURP WKH &RPPLWWHH PHPEHUV E RIWKH6(%, /LVWLQJ2EOLJDWLRQVDQG'LVFORVXUH on the basis of criteria such as the composition of committees, 5HTXLUHPHQWV 5HJXODWLRQV DVDPHQGHGIURPWLPHWRWLPH HIIHFWLYHQHVVRI&RPPLWWHHPHHWLQJVHWF ³/LVWLQJ 5HJXODWLRQV´ 7KH &RPSDQ\ KDV UHFHLYHG QHFHVVDU\ declarations from each Independent Director that he/she meets 7KHSHUIRUPDQFHRIWKHLQGLYLGXDO'LUHFWRUVZDVUHYLHZHGE\WKH%RDUG WKHFULWHULDRI,QGHSHQGHQFHLQWHUPVRIWKHVDLGSURYLVLRQV on the basis of the criteria such as the contribution of the individual 'LUHFWRUWRWKH%RDUGDQG&RPPLWWHHPHHWLQJVSUHSDUHGQHVVRQWKH %DVHGRQWKHGLVFORVXUHVUHFHLYHGIURPDOO,QGHSHQGHQW'LUHFWRUV issues to be discussed, meaningful and constructive contribution and DQGDOVRLQWKHRSLQLRQRIWKH%RDUGWKH,QGHSHQGHQW'LUHFWRUVIXO¿OO LQSXWVLQPHHWLQJVHWF,QDGGLWLRQWKH&KDLUPDQRIWKH%RDUGZDV WKHFRQGLWLRQVDVVSHFL¿HGLQWKH$FWDQGWKH/LVWLQJ5HJXODWLRQV DOVRHYDOXDWHGRQWKHNH\DVSHFWVRIKLVUROH DQGDUHLQGHSHQGHQWRIWKH0DQDJHPHQW In a separate meeting of the Independent Directors, the ,1'(3(1'(17',5(&7256¶0((7,1*6 SHUIRUPDQFH RI WKH 1RQ,QGHSHQGHQW 'LUHFWRUV SHUIRUPDQFH RI WKH %RDUG DV D ZKROH DQG SHUIRUPDQFH RI WKH &KDLUPDQ RI WKH In terms of the provisions of the Act and the Listing Regulations, the %RDUG ZDV HYDOXDWHG 7KH VDPH ZDV GLVFXVVHG LQ WKH %RDUG Independent Directors of the Company shall meet at least once in meeting that followed the meeting of the Independent Directors, a year, without the presence of Executive Directors and members DW ZKLFK WKH SHUIRUPDQFH RI WKH %RDUG LWV &RPPLWWHHV DQG WKH RIPDQDJHPHQW7KH,QGHSHQGHQW'LUHFWRUVPHWRQ-DQXDU\ LQGLYLGXDO'LUHFWRUVZDVGLVFXVVHG DQGLQWHUDOLDGLVFXVVHG %2$5'',9(56,7< Ȉ WKHSHUIRUPDQFHRI1RQ,QGHSHQGHQW'LUHFWRUVDQGWKH%RDUG DVDZKROH 7KH &RPSDQ\ UHFRJQL]HV LWV REOLJDWLRQ WR PDLQWDLQ D %RDUG ZLWK D GLYHUVLW\ RI 'LUHFWRUV 7KH &RPSDQ\ FRQVLGHUV WKDW WKH Ȉ the performance of the Chairperson of the Company, taking concept of diversity incorporates a number of different aspects, into account the views of the Executive Directors and such as professional experiences, business perspectives, skills, 1RQ([HFXWLYH'LUHFWRUVDQG knowledge, gender, age, cultural and educational background, HWKQLFLW\DQGOHQJWKRIVHUYLFH

135 Corporate Governance Report 7KH &RPSDQ\ EHOLHYHV WKDW %RDUG GLYHUVLW\ HQKDQFHV GHFLVLRQ $OVRGXULQJWKH\HDUXQGHUUHYLHZD³%RQXV,VVXH&RPPLWWHH´ PDNLQJFDSDELOLW\DQGDGLYHUVH%RDUGLVPRUHHIIHFWLYHLQGHDOLQJ ZDV IRUPHG E\ WKH %RDUG RI 'LUHFWRUV RI WKH &RPSDQ\ LQ LWV with organizational changes and less likely to suffer from group PHHWLQJKHOGRQ2FWREHUWRFRQVLGHUDQGDSSURYH WKLQNLQJ the various operational matters in regard to the issuance and DOORWPHQWRIERQXVVKDUHVWRWKHVKDUHKROGHUVRIWKH&RPSDQ\ %2$5'&200,77((6 The Committee ceased to exist post the completion of bonus LVVXH 7KH %RDUG &RPPLWWHHV SOD\ D FUXFLDO UROH LQ WKH JRYHUQDQFH structure of the Company and are being set out to deal with .HHSLQJLQYLHZWKHUHTXLUHPHQWVRIWKH$FWDVZHOODVWKH/LVWLQJ VSHFL¿FDUHDVDFWLYLWLHVZKLFKFRQFHUQWKH&RPSDQ\DQGQHHG 5HJXODWLRQV WKH %RDUG KDV GHFLGHG WKH WHUPV RI UHIHUHQFH RI DFORVHUUHYLHZ7KH\DUHVHWXSXQGHUWKHIRUPDODSSURYDORIWKH the various committees which set forth the purposes, goals %RDUGWRFDUU\RXWWKHLUFOHDUO\GH¿QHGUROHV7KH%RDUGVXSHUYLVHV DQG UHVSRQVLELOLWLHV RI WKH &RPPLWWHHV $OO REVHUYDWLRQV the execution of its responsibilities by the committees and is recommendations and decisions of the committees are placed UHVSRQVLEOHIRUWKHLUDFWLRQ EHIRUHWKH%RDUGIRULQIRUPDWLRQRUIRUDSSURYDO

$VRQ0DUFKWKH&RPSDQ\KDGVHYHQ%RDUG&RPPLWWHHV $OOWKHUHFRPPHQGDWLRQVPDGHE\WKHYDULRXV%RDUG&RPPLWWHHV YL]$XGLW&RPPLWWHH&RUSRUDWH6RFLDO5HVSRQVLELOLW\&RPPLWWHH GXULQJWKH¿QDQFLDO\HDUHQGHG0DUFKZHUHDFFHSWHGE\ Nomination and Remuneration Committee, Finance Committee, WKH%RDUG 6WDNHKROGHUV¶ 5HODWLRQVKLS &RPPLWWHH 5LVN 0DQDJHPHQW &RPPLWWHHDQG'LYHUVLW\&RPPLWWHH )5(48(1&< $1' /(1*7+ 2) 0((7,1* 2) 7+( &200,77((62)7+(%2$5'$1'$*(1'$ In addition to the above, during the year under review, the &RPSDQ\DOVRKDGLQSODFHDQ(PSOR\HHV¶6WRFN2SWLRQ$OORWPHQW 7KH&KDLUPDQ RIHDFK &RPPLWWHH RIWKH%RDUG in consultation Committee, to allot shares to the employees who had exercised ZLWKWKH&KDLUPDQRIWKH%RDUGDQGDSSURSULDWHPHPEHUVRIWKH WKHLUVWRFNRSWLRQVXQGHUWKH6WRFN2SWLRQ3ODQVRIWKH&RPSDQ\ PDQDJHPHQWGHWHUPLQHWKHIUHTXHQF\DQGOHQJWKRIWKHPHHWLQJV However, since the last of the Stock Option Plans of the Company RI WKH &RPPLWWHHV DQG GHYHORS WKH &RPPLWWHHV DJHQGD 7KH ³6WRFN2SWLRQ3ODQ´ WHUPLQDWHGLQ'HFHPEHUWKHVDLG agenda of the Committee meetings is shared with all the members FRPPLWWHHLVUHGXQGDQWDVRQWKHFORVHRIWKH¿QDQFLDO\HDU RIWKH&RPPLWWHH

&+$,50$16+,30(0%(56+,32)',5(&7256,1&200,77((62)7+(%2$5'2)',5(&72562)7+(&203$1<$621 0$5&+

1RPLQDWLRQDQG 6WDNHKROGHUV¶ &RUSRUDWH6RFLDO Risk S. $XGLW )LQDQFH 'LYHUVLW\ 'LUHFWRU 5HPXQHUDWLRQ Relationship 5HVSRQVLELOLW\ 0DQDJHPHQW No. &RPPLWWHH &RPPLWWHH &RPPLWWHH &RPPLWWHH &RPPLWWHH &RPPLWWHH &RPPLWWHH ([HFXWLYH'LUHFWRUV 0U6KLY1DGDU NA 0HPEHU 0HPEHU 0HPEHU 0HPEHU NA 0HPEHU 1RQ,QGHSHQGHQW1RQ([HFXWLYH'LUHFWRUV 0V5RVKQL1DGDU0DOKRWUD NA 0HPEHU 0HPEHU Chairperson 0HPEHU NA 0HPEHU 0U6KLNKDU1HHONDPDO0DOKRWUD NA NA NA NA NA NA NA ,QGHSHQGHQW1RQ([HFXWLYH'LUHFWRUV 0U'HHSDN.DSRRU 0HPEHU NA NA NA NA 0HPEHU NA 5 0U60DGKDYDQ Chairman 1$ Chairman 0HPEHU Chairman Chairman NA 'U0RKDQ&KHOODSSD NA NA NA NA NA NA NA 7 0V1LVKL9DVXGHYD 0HPEHU NA NA NA NA 0HPEHU NA 8 0V5RELQ$QQ$EUDPV 0HPEHU 0HPEHU NA NA NA 0HPEHU Chairperson 9 'U6RVDOH6KDQNDUD6DVWU\ NA NA NA NA NA NA NA 0U56ULQLYDVDQ NA Chairman NA NA 0HPEHU NA NA 0U6LPRQ-RKQ NA NA NA NA NA NA NA England 0U7KRPDV6LHEHU NA NA NA NA 0HPEHU NA NA

Notes:

7KH(PSOR\HH6WRFN2SWLRQ$OORWPHQW&RPPLWWHHRIWKH&RPSDQ\EHFDPHUHGXQGDQWDVRQ0DUFKVLQFHWKHODVWRIWKH6WRFN2SWLRQ3ODQV RIWKH&RPSDQ\WHUPLQDWHGLQ'HFHPEHU 0U6KLNKDU1HHONDPDO0DOKRWUDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH1RQ,QGHSHQGHQW'LUHFWRUZHI2FWREHU )XUWKHU0U6KLNKDU1HHONDPDO0DOKRWUDZDVFRRSWHGDVDPHPEHURIWKH1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHHDQG0U6KLY1DGDU FHDVHGWREHDPHPEHURIWKH1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHHZHI0D\$OVR0U6KLNKDU1HHONDPDO0DOKRWUDZDVFRRSWHGDV DPHPEHURIWKH)LQDQFH&RPPLWWHHZHI0D\ 'U0RKDQ&KHOODSSDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI$XJXVW 0U6LPRQ-RKQ(QJODQGZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKHFDSDFLW\RI1RQ([HFXWLYH,QGHSHQGHQW'LUHFWRUZHI-DQXDU\ 0U7KRPDV6LHEHUZDVFRRSWHGDVWKHPHPEHURIWKH)LQDQFH&RPPLWWHHZHI6HSWHPEHU

Annual Report 2019-20 136 1. $XGLW&RPPLWWHH G &RQGXFWRI$XGLW

$VRQ0DUFKWKH$XGLW&RPPLWWHHFRPSULVHGRIIRXU 'LVFXVVZLWKWKHVWDWXWRU\DXGLWRUVWKHPDWWHUVUHTXLUHGWR Independent Directors namely: EHGLVFXVVHGIRUWKHFRQGXFWRIWKHDXGLW

a) 0U60DGKDYDQ &KDLUPDQ H 5HYLHZDQGH[DPLQDWLRQRI$XGLW5HVXOWV b) 0U'HHSDN.DSRRU c) 0V1LVKL9DVXGHYD Review and examination with the statutory auditors the d) 0V5RELQ$QQ$EUDPV proposed report on the annual audit, areas of concern, the accompanying management letter, if any, the reports 7KH&RPSDQ\6HFUHWDU\DFWVDVD6HFUHWDU\WRWKH&RPPLWWHH RI WKHLU UHYLHZV RI WKH &RPSDQ\¶V LQWHULP ¿QDQFLDO statements, and the reports of the results of such other 7HUPVRI5HIHUHQFH examinations outside of the course of the statutory DXGLWRUV¶QRUPDODXGLWSURFHGXUHVWKDWWKH\PD\IURPWLPH The terms of reference of Audit Committee are as under: WRWLPHXQGHUWDNH

D 6WDWXWRU\$XGLWRUV I 5HYLHZDQGH[DPLQDWLRQRI)LQDQFLDO6WDWHPHQWV

5HFRPPHQGWRWKH%RDUGWKHDSSRLQWPHQWUHDSSRLQWPHQW 5HYLHZDQGH[DPLQDWLRQRIWKH&RPSDQ\¶V¿QDQFLDOUHSRUWLQJ DQGLIUHTXLUHGWKHUHSODFHPHQWRUUHPRYDORIWKHVWDWXWRU\ SURFHVV DQG WKH GLVFORVXUH RI LWV ¿QDQFLDO LQIRUPDWLRQ WR DXGLWRUV LQFOXGLQJ ¿OLQJ RI D FDVXDO YDFDQF\ ¿[DWLRQ RI HQVXUHWKDWWKH¿QDQFLDOVWDWHPHQWVDUHDFFXUDWHVXI¿FLHQW audit fee / remuneration, terms of appointment and also DQGFUHGLEOHDQGHYDOXDWLRQRILQWHUQDO¿QDQFLDOFRQWUROVDQG provide prior approval of the appointment of and the fees risk management systems, to obtain reasonable assurance IRUDQ\RWKHUVHUYLFHVUHQGHUHGE\WKHVWDWXWRU\DXGLWRUV based on evidence regarding processes followed and Provided that the statutory auditors shall not render services WKHLU DSSURSULDWH WHVWLQJ WKDW VXFK V\VWHPV DUH DGHTXDWH SURKLELWHGWRWKHPE\6HFWLRQRIWKH&RPSDQLHV$FW DQGFRPSUHKHQVLYHDQGDUHZRUNLQJHIIHFWLYHO\7KH$XGLW RUE\SURIHVVLRQDOUHJXODWLRQV &RPPLWWHH VKDOO UHYLHZ ZLWK DSSURSULDWH RI¿FHUV RI WKH &RPSDQ\ DQG WKH VWDWXWRU\ DXGLWRUV WKH DQQXDO ¿QDQFLDO The Committee shall take into consideration the VWDWHPHQWVRIWKH&RPSDQ\SULRUWRVXEPLVVLRQWRWKH%RDUG TXDOL¿FDWLRQV DQG H[SHULHQFH RI WKH ¿UP SURSRVHG WR EH or public release thereof, focusing primarily on: FRQVLGHUHGIRUDSSRLQWPHQWDVDXGLWRUVDVVSHFL¿HGXQGHU 6HFWLRQ RI WKH &RPSDQLHV $FW DQG ZKHWKHU 0DWWHUV UHTXLUHG WR EH LQFOXGHG LQ WKH 'LUHFWRUV¶ these are commensurate with the size, nature of business 5HVSRQVLELOLW\6WDWHPHQWWREHLQFOXGHGLQWKH%RDUG¶V DQG UHTXLUHPHQWV RI WKH &RPSDQ\ DQG DOVR FRQVLGHU DQ\ 5HSRUWLQWHUPVRI6HFWLRQ RIWKH&RPSDQLHV completed and pending proceedings against the proposed $FW ¿UPRI$XGLWRUVEHIRUHWKH,QVWLWXWHRI&KDUWHUHG$FFRXQWDQWV RI,QGLDRUDQ\FRPSHWHQWDXWKRULW\RUDQ\&RXUW Any changes in accounting policies and practices DQGUHDVRQVIRUWKHVDPH 7KH&RPPLWWHHVKDOOUHFRPPHQGWRWKH%RDUGWKHQDPH 0DMRU DFFRXQWLQJ HQWULHV EDVHG RQ H[HUFLVH RI RIWKHDXGLW¿UPZKRPD\UHSODFHWKHLQFXPEHQWDXGLWRU MXGJPHQWE\PDQDJHPHQW RQWKHH[SLU\RIWKHLUWHUP 4XDOL¿FDWLRQVLQGUDIWDXGLWUHSRUW E 5HYLHZDQGPRQLWRU,QGHSHQGHQFHDQG3HUIRUPDQFH RI 6WDWXWRU\ $XGLWRUV DQG (IIHFWLYHQHVV RI $XGLW 5) 6LJQL¿FDQW DGMXVWPHQWV PDGH LQ WKH ¿QDQFLDO 3URFHVV VWDWHPHQWVDULVLQJRXWRIDXGLW 7KHJRLQJFRQFHUQDVVXPSWLRQ ,Q FRQQHFWLRQ ZLWK UHFRPPHQGLQJ WKH ¿UP WR EH UHWDLQHG DV WKH &RPSDQ\¶V VWDWXWRU\ DXGLWRUV UHYLHZ DQG PRQLWRU 7) &RPSOLDQFHZLWKDFFRXQWLQJVWDQGDUGV the information provided by the management relating 8) Compliance with stock exchange and legal WR WKH LQGHSHQGHQFH RI VXFK ¿UP DQG SHUIRUPDQFH DQG effectiveness of audit process, including, among other things, UHTXLUHPHQWVFRQFHUQLQJ¿QDQFLDOVWDWHPHQWV LQIRUPDWLRQUHODWLQJWRWKHQRQDXGLWVHUYLFHVSURYLGHGDQG 9) $Q\ UHODWHG SDUW\ WUDQVDFWLRQV LH WUDQVDFWLRQV RI H[SHFWHGWREHSURYLGHGE\WKHVWDWXWRU\DXGLWRUV the Company with its subsidiaries, promoters or the PDQDJHPHQW RU WKHLU UHODWLYHV HWF WKDW PD\ KDYH The Committee is also responsible for: FRQÀLFWZLWKWKHLQWHUHVWRIWKH&RPSDQ\DWODUJH

i) actively engaging in dialogue with the statutory &RQWLQJHQWOLDELOLWLHV auditors with respect to any disclosed relationship 6WDWXVRIOLWLJDWLRQVE\RUDJDLQVWWKH&RPSDQ\DQG RU VHUYLFHV WKDW PD\ LPSDFW WKH REMHFWLYLW\ DQG independence of the statutory auditors, and Claims against the Company and their effect on the DFFRXQWV ii) UHFRPPHQGLQJ WKDW WKH %RDUG WDNHV DSSURSULDWH 7KHGH¿QLWLRQRIWKHWHUP³)LQDQFLDO6WDWHPHQW´VKDOOEHWKH DFWLRQLQUHVSRQVHWRWKHVWDWXWRU\DXGLWRUV¶UHSRUWWR VDPHDVXQGHUVHFWLRQ RIWKH&RPSDQLHV$FW VDWLVI\LWVHOIRIWKHLULQGHSHQGHQFH J 5HYLHZ4XDUWHUO\)LQDQFLDO6WDWHPHQWV F 5HYLHZ$XGLW3ODQ 5HYLHZLQJZLWKWKHPDQDJHPHQWWKHTXDUWHUO\LQWHULP Review with the statutory auditors their plans for, and the ¿QDQFLDOVWDWHPHQWVEHIRUHVXEPLVVLRQWRWKH%RDUGIRU VFRSHRIWKHLUDQQXDODXGLWDQGRWKHUH[DPLQDWLRQV DSSURYDO

137 Corporate Governance Report K 7KH$XGLW&RPPLWWHHVKDOOSHUIRUPWKHIROORZLQJ5LVN N 5HYLHZ,QWHUQDO$XGLW)XQFWLRQ 0DQDJHPHQW)XQFWLRQV 5HYLHZ WKH DGHTXDF\ RI WKH LQWHUQDO DXGLW IXQFWLRQ $VVLVW WKH %RDUG LQ RYHUVHHLQJ WKH UHVSRQVLELOLWLHV including the structure of the internal audit department, ZLWK UHJDUG WR WKH LGHQWL¿FDWLRQ HYDOXDWLRQ DQG mitigation of operational, strategic and external DGHTXDWH VWDI¿QJ DQG WKH TXDOL¿FDWLRQV H[SHULHQFH HQYLURQPHQWDOULVNV authority and autonomy of the person heading the department, the reporting structure, coverage and 5HYLHZ DQG DSSURYH WKH 5LVN 0DQDJHPHQW 3ROLF\ IUHTXHQF\RILQWHUQDODXGLW DQGDVVRFLDWHGIUDPHZRUNSURFHVVHVDQGSUDFWLFHV $VVLVWWKH%RDUGLQWDNLQJDSSURSULDWHPHDVXUHVWR O 5HYLHZ,QWHUQDO$XGLW3ODQV achieve a prudent balance between risk and reward LQERWKRQJRLQJDQGQHZEXVLQHVVDFWLYLWLHV Review with the senior internal audit executive and appropriate members of the staff of the internal auditing (YDOXDWLQJ VLJQL¿FDQW ULVN H[SRVXUHV LQFOXGLQJ department, the plans for and the scope of their ongoing business continuity planning and disaster recovery audit activities and also review and approve the periodicity SODQQLQJ DQGSURJUDPPHIRUFRQGXFWLQJWKHLQWHUQDODXGLW 5) $VVHVVLQJ PDQDJHPHQW¶V DFWLRQV LQ PLWLJDWLQJ WKH ULVNH[SRVXUHVLQDWLPHO\PDQQHU P 5HYLHZ,QWHUQDO$XGLW5HSRUWV 3URPRWH HQWHUSULVHZLGH 5LVN 0DQDJHPHQW DQG Review with the senior internal auditing executive and REWDLQFRPIRUWEDVHGRQDGHTXDWHDQGDSSURSULDWH appropriate members of the staff of the internal auditing evidence that the management of the Company GHSDUWPHQW WKH SHULRGLF UHSRUWV RI WKH ¿QGLQJV RI WKH ensures the implementation and effective functioning audit and reports and the necessary follow up and of the entire risk management process and embedding implementation of correction of errors and other necessary of a comprehensive risk management culture in the DFWLRQV UHTXLUHG 7KH $XGLW &RPPLWWHH VKDOO DOVR UHYLHZ &RPSDQ\DWHYHU\VWDJHRILWVRSHUDWLRQV WKH ¿QGLQJV RI DQ\ LQWHUQDO LQYHVWLJDWLRQV E\ WKH LQWHUQDO 7) $VVLVWWKH%RDUGLQPDLQWHQDQFHDQGGHYHORSPHQWRI auditors into the matters where there is suspected fraud a supportive culture, in relation to the management or irregularity or a failure of the internal control system of of risk, appropriately embedded through procedures, a material nature and ensure that proper corrective action training and leadership actions so that all employees LVWDNHQ$Q\VXFKPDWWHUVVKDOOEHUHSRUWHGWRWKH%RDUGLI are alert to the wider impact on the whole organization QHFHVVDU\DQGDSSURSULDWH RIWKHLUDFWLRQVDQGGHFLVLRQV 8) 0DLQWDLQLQJDQDJJUHJDWHGYLHZRQWKHULVNSUR¿OHRI Q 5HYLHZ6\VWHPVRI,QWHUQDO)LQDQFLDO&RQWUROV WKH&RPSDQ\,QGXVWU\LQDGGLWLRQWRWKHSUR¿OHRI LQGLYLGXDOULVNV Review with the statutory auditor and the senior internal auditor to the extent deemed appropriate by the Chairman 9) Ensure the implementation of and compliance with RI WKH &RPPLWWHH WKH DGHTXDF\ RI WKH &RPSDQ\¶V WKHREMHFWLYHVVHWRXWLQWKH5LVN0DQDJHPHQW3ROLF\ LQWHUQDO¿QDQFLDOFRQWUROVDVGH¿QHGLQVHFWLRQRIWKH $GYLVH WKH %RDUG RQ DFFHSWDEOH OHYHOV RI ULVN &RPSDQLHV$FW appetite, tolerance and strategy appropriate to the size and nature of business and the complexity and R 5HYLHZ DQG HQVXUH WKH H[LVWHQFH DGHTXDF\ JHRJUDSKLFVSUHDGRIWKH&RPSDQ\¶VRSHUDWLRQV DQG HIIHFWLYH IXQFWLRQLQJ RI D 9LJLO 0HFKDQLVP :KLVWOHEORZHU 3ROLF\ DSSURSULDWH WR WKH VL]H 5HYLHZ DQG UHDVVHVV WKH DGHTXDF\ RI WKLV FKDUWHU FRPSOH[LW\ DQG JHRJUDSKLF VSUHDG RI WKH &RPSDQ\ periodically and recommend any proposed changes DQGLWVRSHUDWLRQV WRWKH%RDUGIRUDSSURYDOIURPWLPHWRWLPHDQG The Committee shall have access to any internal 7KH9LJLOPHFKDQLVP:KLVWOHEORZHU3ROLF\VKDOOSURYLGH LQIRUPDWLRQQHFHVVDU\WRIXO¿OOLWVRYHUVLJKWUROH$V IRU DGHTXDWH VDIHJXDUGV DJDLQVW YLFWLPL]DWLRQ RI DOO DQGZKHQUHTXLUHGWKH&RPPLWWHHPD\DVVLJQWDVNV persons referring any matter under the mechanism and WRWKH,QWHUQDO$XGLWRUWKH&RPSDQ\¶VLQWHUQDO5LVN shall also provide for direct access to the Chairman management team and any external expert advisors of the Audit Committee in appropriate or exceptional considered necessary for any task and they will FDVHV 0DWWHUV UHIHUUHG DQG WKH DFWLRQ WDNHQ VKDOO EH SURYLGHWKHLU¿QGLQJVWRWKH&RPPLWWHH UHJXODUO\ UHSRUWHG WR WKH &RPPLWWHH RQFH D TXDUWHU RU PRUHIUHTXHQWO\7KHPHFKDQLVPDQGSROLF\VKDOOFRYHU L 5HYLHZWKHSHUIRUPDQFHRIWKH,QWHUQDODQG([WHUQDO whistleblower and complaint references of all kinds, $XGLWRUV including alleged fraud by or against the Company, abuse of authority, misbehavior and ill treatment and unfair Review with the management the performance of treatment of all kinds including all allegations and charges the statutory and internal auditors and the existence, of harassment, sexual or otherwise, whether made by a DGHTXDF\DQGHIIHFWLYHIXQFWLRQLQJRIWKHLQWHUQDOFRQWURO QDPHG FRPSODLQDQW RU DQRQ\PRXVO\ &RPSODLQWV ZKLFK V\VWHPV LQFOXGLQJ LQWHUQDO FRQWURO V\VWHP RYHU ¿QDQFLDO are prima facie frivolous in the view of the Ombudsperson reporting, based on appropriate and effective evidence )XQFWLRQRUWKH:KLVWOHEORZHU&RPPLWWHHRIWKH&RPSDQ\ DQGVXFKRWKHUPDWWHUVDVPD\EHUHTXLUHG or other Committee or group of individuals responsible for investigating complaints and taking suitable action may M 2YHUVLJKW5ROH EH FORVHG ZLWK DSSURSULDWH UHDVRQV UHFRUGHG ,I DQ\ RI WKHPHPEHUVRIWKH&RPPLWWHHKDYHDFRQÀLFWRILQWHUHVW 2YHUVLJKW RI WKH FRPSDQ\¶V ¿QDQFLDO UHSRUWLQJ SURFHVV in a given case, they should recuse themselves and the DQGWKHGLVFORVXUHRILWV¿QDQFLDOLQIRUPDWLRQWRHQVXUHWKH others on the Committee would deal with the matter on ¿QDQFLDOVWDWHPHQWVDUHFRUUHFWVXI¿FLHQWDQGFUHGLEOH KDQG

Annual Report 2019-20 138 S 5HYLHZRWKHUPDWWHUV 5) The appointment, removal and terms of remuneration RIWKH&KLHI,QWHUQDO$XGLWRU Review such other matters in relation to the accounting, ,QWHUFRUSRUDWH ORDQV DQG LQYHVWPHQWV LQFOXGLQJ DXGLWLQJDQG¿QDQFLDOUHSRUWLQJSUDFWLFHVDQGSURFHGXUHVRI review of utilization of loans and/or advances from / the Company as the Committee may, in its own discretion, investment by the Company in any of its subsidiary deem desirable in connection with the review functions exceeding the prescribed limit of the asset size of the GHVFULEHGDERYH VXEVLGLDU\DVSURYLGHGLQ6(%, /LVWLQJ2EOLJDWLRQV 'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQV T 5HSRUWLQJWR%RDUG 7) 9DOXDWLRQRIXQGHUWDNLQJVDQGDVVHWVRIWKH&RPSDQ\ ZKHQHYHUQHFHVVDU\DQG 5HSRUW LWV DFWLYLWLHV WR WKH %RDUG LQ VXFK PDQQHU DQG DW VXFKWLPHVDVLWGHHPVDSSURSULDWH 8) Internal control system in regard to prevention of LQVLGHUWUDGLQJ U ,QYHVWLJDWLRQ Z %DVLVRI5HODWHG3DUW\7UDQVDFWLRQV The Audit Committee has the authority to investigate any PDWWHULQUHODWLRQWRWKHLWHPVVSHFL¿HGLQ6HFWLRQRIWKH The statement in summary form of transactions with &RPSDQLHV$FWRUUHIHUUHGWRLWE\WKH%RDUGDQGIRUWKLV related parties in the ordinary course of business shall SXUSRVHLWVKDOOKDYHIXOODFFHVVWRWKHLQIRUPDWLRQFRQWDLQHG EHSODFHGSHULRGLFDOO\EHIRUHWKHDXGLWFRPPLWWHH LQWKHUHFRUGVRIWKH&RPSDQ\,WPD\DOVRLQYHVWLJDWHDQ\ Details of individual transactions with related parties, DFWLYLW\ ZLWKLQ LWV WHUP RI UHIHUHQFH ,W KDV WKH DXWKRULW\ WR which are not in the normal course of business, shall look into the reasons for substantial defaults in the payment EHSODFHGEHIRUHWKHDXGLWFRPPLWWHH WRWKHGHSRVLWRUVGHEHQWXUHKROGHUVVKDUHKROGHUV IRUQRQ Details of individual transactions with related parties payment of declared dividends) and creditors, if any and any RU RWKHUV ZKLFK DUH QRW RQ DQ DUP¶V OHQJWK EDVLV RWKHULQVWDQFHRIDIDLOXUHRIOHJDOFRPSOLDQFH shall be placed before the Audit Committee together ZLWK WKH PDQDJHPHQW MXVWL¿FDWLRQ IRU WKH VHOHFWLRQ V 6HHNLQIRUPDWLRQDGYLFH of the related party and the price and other terms DJUHHG The Audit Committee may seek information from any $SSURYDO RU DQ\ VXEVHTXHQW PRGL¿FDWLRQ RI DOO employee and may obtain from external independent WUDQVDFWLRQVRIWKH&RPSDQ\ZLWKUHODWHGSDUWLHV sources any legal or other professional advice it considers 5) 2QVDWLVI\LQJLWVHOIDGHTXDWHO\UHJDUGLQJWKHUHDVRQV QHFHVVDU\ LQ WKH SHUIRUPDQFH RI LWV GXWLHV ,W PD\ DOVR for the related party transactions undertaken and the secure attendance of independent professional persons terms and conditions agreed including price and the ZLWK VXLWDEOH TXDOL¿FDWLRQV DQG UHOHYDQW H[SHULHQFH LQ REVHUYDWLRQRIWKHDUPV¶OHQJWKSULQFLSOHZLWKVXLWDEOH VSHFL¿FPDWWHUVLILWFRQVLGHUVWKLVQHFHVVDU\ explanations for any departures, the Committee shall SHULRGLFDOO\DSSURYHWKHUHODWHGSDUW\WUDQVDFWLRQV W $SSURYDOIRUDSSRLQWPHQWRI&KLHI)LQDQFLDO2I¿FHU ([SODQDWLRQ The Committee shall approve the appointment of the &)2 WKH ZKROHWLPH )LQDQFH 'LUHFWRU RU DQ\ RWKHU D ³5HODWHG 3DUW\ 7UDQVDFWLRQ´ PHDQV D WUDQVDFWLRQ SHUVRQKHDGLQJWKH¿QDQFHIXQFWLRQ DIWHUDVVHVVLQJWKH HQYLVDJHG DV D UHODWHG SDUW\ WUDQVDFWLRQ GH¿QHG TXDOL¿FDWLRQV H[SHULHQFH DQG EDFNJURXQG HWF RI WKH XQGHU WKH &RPSDQLHV $FW RU XQGHU 6(%, FDQGLGDWH /LVWLQJ 2EOLJDWLRQV DQG 'LVFORVXUH 5HTXLUHPHQWV 5HJXODWLRQ LQFOXGLQJ DQ\ DPHQGPHQWV X 5HYLHZ DQG PRQLWRU WKH 6WDWHPHQW RI 8VHV DQG WKHUHRI $SSOLFDWLRQRI)XQGV E ³5HODWHG 3DUW\´ PHDQV D UHODWHG SDUW\ DV GH¿QHG Review and monitor, with the management, the statement XQGHU WKH &RPSDQLHV $FW UXOHV PDGH of uses / application of funds raised through an issue WKHUHXQGHU DQG XQGHU DSSOLFDEOH DFFRXQWLQJ SXEOLF ULJKWV SUHIHUHQWLDO LVVXH HWF WKH VWDWHPHQW RI VWDQGDUGV DQG 6(%, /LVWLQJ 2EOLJDWLRQV DQG funds utilized for purposes other than those stated in 'LVFORVXUH 5HTXLUHPHQWV 5HJXODWLRQV the offer document / prospectus / notice and the report LQFOXGLQJDQ\DPHQGPHQWVWKHUHRI submitted by the monitoring agency, monitoring the utilization of proceeds of the public issue or rights issue, [ 7RDWWHQG$QQXDO*HQHUDO0HHWLQJ DQGPDNHDSSURSULDWHUHFRPPHQGDWLRQVWRWKH%RDUG The Chairman of the Audit Committee shall attend the Y 5HYLHZRWKHULQIRUPDWLRQ $QQXDO*HQHUDO0HHWLQJVRIWKH&RPSDQ\WRSURYLGHDQ\ FODUL¿FDWLRQRQPDWWHUVUHODWLQJWRLWVVFRSHVRXJKWE\WKH The Audit Committee shall mandatorily review the following PHPEHUVRIWKH&RPSDQ\ information: The statutory auditors of the Company shall be special 0DQDJHPHQW GLVFXVVLRQ DQG DQDO\VLV RI ¿QDQFLDO invitees to the Audit Committee meetings, and they shall FRQGLWLRQDQGUHVXOWVRIRSHUDWLRQ participate in discussions related to the audit and reviews Statement of related party transaction submitted by RIWKH¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\DQGDQ\RWKHU WKHPDQDJHPHQW matter that in the opinion of the statutory auditors needs to be brought to the notice of the Committee or any matter 0DQDJHPHQW OHWWHUV OHWWHUV RI LQWHUQDO FRQWURO LQZKLFKWKH\DUHLQYLWHGE\WKH&RPPLWWHHWRSDUWLFLSDWH ZHDNQHVVHVLVVXHGE\WKHVWDWXWRU\DXGLWRUV Internal audit reports relating to internal control \ 6XEVLGLDU\&RPSDQLHV ZHDNQHVVHV The Audit Committee of the holding company shall also 139 Corporate Governance Report UHYLHZ WKH ¿QDQFLDO VWDWHPHQWV LQ SDUWLFXODU WKH LQWHU D 0V5RVKQL1DGDU0DOKRWUD &KDLUSHUVRQ corporate loans and investments made by or in the E 0U6KLY1DGDU VXEVLGLDU\FRPSDQLHV F 0U60DGKDYDQ

] 5HSRUWLQJRI)UDXGE\WKH$XGLWRUV 7HUPVRI5HIHUHQFH

,QFDVHWKHDXGLWRUKDVVXI¿FLHQWUHDVRQWREHOLHYHWKDW The Terms of Reference of the CSR Committee are as under: an offence involving fraud is being or has been committed DJDLQVW WKH &RPSDQ\ E\ RI¿FHUV RU HPSOR\HHV RI WKH )RUPXODWHDQGUHFRPPHQGWRWKH%RDUGD&653ROLF\ Company, or by the Company the Auditor shall forward his report to the Committee and the Committee shall send 5HFRPPHQGWKHDPRXQWRIH[SHQGLWXUHWREHLQFXUUHGRQ its reply or observations to the Auditor and such matters &65DFWLYLWLHV VKDOOEHUHSRUWHGWRWKH%RDUGE\WKH&RPPLWWHH ,QVWLWXWH D WUDQVSDUHQW PRQLWRULQJ PHFKDQLVP IRU DD &RVW$XGLWRU LPSOHPHQWDWLRQRI&65SURMHFWVRUSURJUDPVRUDFWLYLWLHV XQGHUWDNHQE\WKH&RPSDQ\ ,IWKH&RPSDQ\LVUHTXLUHGE\WKH&RPSDQLHV$FW or other legal provision to appoint a Cost Auditor to have 0RQLWRU&65SROLF\IURPWLPHWRWLPH a cost audit conducted, the Committee shall take into FRQVLGHUDWLRQ WKH TXDOL¿FDWLRQV DQG H[SHULHQFH RI WKH 'XULQJ WKH ¿QDQFLDO \HDU HQGHG 0DUFK WKH &65 person proposed for appointment as the cost auditor and &RPPLWWHH PHW WKUHH WLPHV RQ$SULO 0D\ UHFRPPHQGVXFKDSSRLQWPHQWWRWKH%RDUGWRJHWKHUZLWK DQG6HSWHPEHU7KHQHFHVVDU\TXRUXPZDVSUHVHQW WKHUHPXQHUDWLRQWREHSDLGWRWKHFRVWDXGLWRU IRUDOOWKHPHHWLQJV

DE 5HYLHZ RI WKH 7HUPV RI 5HIHUHQFH RI WKH $XGLW 1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHH &RPPLWWHH $V RQ 0DUFK WKH 1RPLQDWLRQ DQG 5HPXQHUDWLRQ 7KH&RPPLWWHHVKDOOUHYLHZDQGUHDVVHVVWKHDGHTXDF\ &RPPLWWHH µ15&¶ FRPSULVHGRIIRXUPHPEHUVZLWKWZRRILWV of the terms of reference of the Audit Committee on members as Independent Directors, namely: a periodical basis, and where necessary obtain the D 0U56ULQLYDVDQ &KDLUPDQ DVVLVWDQFH RI WKH PDQDJHPHQW WKH *URXS¶V H[WHUQDO E 0U6KLY1DGDU DXGLWRUVDQGH[WHUQDOOHJDOFRXQVHO F 0V5RELQ$QQ$EUDPV G 0V5RVKQL1DGDU0DOKRWUD DF 5HJLVWHUHG9DOXHU 1RWH 0U 6KLNKDU 1HHONDPDO 0DOKRWUD ZDV FRRSWHG DV D The Audit Committee shall prescribe the terms and PHPEHU RI WKH 1RPLQDWLRQ DQG 5HPXQHUDWLRQ &RPPLWWHH DQG conditions and the appointment of a registered valuer 0U6KLY1DGDUFHDVHGWREHDPHPEHURIWKH1RPLQDWLRQDQG KDYLQJWKHUHTXLVLWHTXDOL¿FDWLRQVDQGH[SHULHQFH 5HPXQHUDWLRQ&RPPLWWHHZHI0D\

Eight meetings of the Audit Committee were held during the 7HUPVRI5HIHUHQFH ¿QDQFLDO\HDUXQGHUUHYLHZ7KHVHZHUHKHOGRQ$SULO 0D\-XO\$XJXVW6HSWHPEHU The Terms of Reference of the Nomination and Remuneration 2FWREHU-DQXDU\DQG)HEUXDU\ Committee are as under: 7KHQHFHVVDU\TXRUXPZDVSUHVHQWIRUDOOWKHPHHWLQJV a) Succession planning for certain key positions in the Attendance details of each member at the Audit Committee &RPSDQ\ YL] 'LUHFWRUV &KLHI ([HFXWLYH 2I¿FHU &(2 PHHWLQJVKHOGGXULQJWKH¿QDQFLDO\HDUHQGHG0DUFK &KLHI 2SHUDWLQJ 2I¿FHU &22 &KLHI )LQDQFLDO 2I¿FHU are as follows: &)2 DQG6HQLRU0DQDJHPHQW7KH&RPPLWWHHWRLGHQWLI\ screen and review candidates, inside or outside the 1XPEHURI 1XPEHURI &RPSDQ\DQGSURYLGHLWVUHFRPPHQGDWLRQVWRWKH%RDUG 1DPHRIWKH PHHWLQJV Position PHHWLQJV &RPPLWWHH0HPEHU KHOGGXULQJ DWWHQGHG b) 5HYLHZ DQG UHFRPPHQG WR WKH %RDUG WKH DSSRLQWPHQW tenure DQGUHPRYDORI'LUHFWRUV.H\0DQDJHULDO3HUVRQQHODQG 0U60DGKDYDQ Chairman 8 8 SHUVRQV LQ VHQLRU PDQDJHPHQW ³6HQLRU 0DQDJHPHQW´ VKDOOPHDQFRUSRUDWHRI¿FHUVRIWKH&RPSDQ\ 0U'HHSDN.DSRRU 0HPEHU 87 0V1LVKL9DVXGHYD 0HPEHU 88 c) Review of criteria to carry out the performance evaluation 0V5RELQ$QQ$EUDPV 0HPEHU 8 8 RIWKH%RDUGDVDZKROHDQGLQGLYLGXDO'LUHFWRUV

0V5RELQ$EUDPVDWWHQGHGIRXUPHHWLQJVWKURXJKWHOHFRQIHUHQFHFDOO d) 5HFRPPHQGWRWKH%RDUGDSROLF\UHODWLQJWRUHPXQHUDWLRQ RI 'LUHFWRUV .H\ 0DQDJHULDO 3HUVRQQHO DQG RWKHU Further, during the year under review, one meeting of the Audit HPSOR\HHV &RPPLWWHHZDVKHOGYLDWHOHFRQIHUHQFHFDOORQ-XO\ DQGWKHGHFLVLRQZDVWDNHQWKURXJKUHVROXWLRQE\FLUFXODWLRQ The Nomination and Remuneration Committee while formulating the aforesaid policy shall ensure that – &RUSRUDWH6RFLDO5HVSRQVLELOLW\&RPPLWWHH The level and composition of remuneration is $V RQ 0DUFK WKH &RUSRUDWH 6RFLDO 5HVSRQVLELOLW\ UHDVRQDEOH DQG VXI¿FLHQW WR DWWUDFW UHWDLQ DQG µ&65¶ &RPPLWWHHFRPSULVHGRIWKUHHPHPEHUVLQFOXGLQJRQH PRWLYDWH'LUHFWRUVRIWKHTXDOLW\UHTXLUHGWRUXQWKH Independent Director namely: FRPSDQ\VXFFHVVIXOO\

Annual Report 2019-20 140 Relationship of remuneration to performance is clear on a regular basis and is in consonance with existing industry DQGPHHWVDSSURSULDWHSHUIRUPDQFHEHQFKPDUNVDQG SUDFWLFHV

5HPXQHUDWLRQWR'LUHFWRUV.H\0DQDJHULDO3HUVRQQHO The criteria for making payments to Executive and DQG6HQLRU0DQDJHPHQWLQYROYHVDEDODQFHEHWZHHQ 1RQ([HFXWLYH'LUHFWRUVRIWKH&RPSDQ\DUHDVXQGHU ¿[HGDQGLQFHQWLYHSD\UHÀHFWLQJVKRUWDQGORQJWHUP SHUIRUPDQFHREMHFWLYHVDSSURSULDWHWRWKHZRUNLQJRI Executive Directors: WKHFRPSDQ\DQGLWVJRDOV The remuneration of the Executive Director is recommended e) )RUPXODWH WKH FULWHULD IRUGHWHUPLQLQJ WKH TXDOL¿FDWLRQV by the Nomination and Remuneration Committee to the SRVLWLYHDWWULEXWHVDQGLQGHSHQGHQFHRI'LUHFWRUV %RDUGDQGDIWHUDSSURYDOE\WKH%RDUGWKHVDPHLVSXWXSIRU VKDUHKROGHUV¶DSSURYDO([HFXWLYH'LUHFWRUGRQRWUHFHLYHDQ\ f) 'HYLVHD3ROLF\RQ%RDUG'LYHUVLW\ VLWWLQJIHHVIRUDWWHQGLQJWKH%RDUGDQG&RPPLWWHHPHHWLQJV

g) Review and approve / recommend the remuneration for 'XULQJ WKH \HDU WKH %RDUG FRPSULVHG RI RQH ([HFXWLYH WKH &RUSRUDWH 2I¿FHUV :KROH7LPH 'LUHFWRUV RI WKH 'LUHFWRUYL]0U6KLY1DGDU7KHUHDUHQRVHSDUDWHSURYLVLRQV &RPSDQ\ for the service of notice period and payment of severance fee E\WKH([HFXWLYH'LUHFWRUVDWWKHWLPHRIWKHLUWHUPLQDWLRQ h) $SSURYHLQFOXVLRQRIVHQLRURI¿FHUVRIWKH&RPSDQ\DV &RUSRUDWH2I¿FHUV 7KHUHPXQHUDWLRQSDLGWR0U6KLY1DGDUIRUWKH\HDUHQGHG 0DUFKIURPWKH&RPSDQ\VXEVLGLDULHVLVDVXQGHU i) $SSURYHSURPRWLRQVZLWKLQWKH&RUSRUDWH2I¿FHUV 3DUWLFXODUV ൘LQFURUH M Regularly review the Human Resource function of the Salary &RPSDQ\ 3HUTXLVLWHV k) Approve grant of stock options to the employees and / or Others: Directors (excluding Independent Directors and Promoter 0HGLFDO Directors) of the Company and subsidiary companies and *UDWXLW\ perform such other functions and take such decisions as 0LVFUHLPEXUVHPHQW DUHUHTXLUHGXQGHUWKHYDULRXV(PSOR\HHV6WRFN2SWLRQ Contribution to Provident Fund 3ODQVRIWKH&RPSDQ\ Total l) Discharge such other function(s) or exercise such ,QDGGLWLRQ0U6KLY1DGDUUHFHLYHGVDODU\DQGSHUTXLVLWHVDPRXQWLQJ power(s) as may be delegated to the Committee by the WR 86' PLOOLRQ HTXLYDOHQW WR ৷ FURUH IURP +&/ $PHULFD %RDUGIURPWLPHWRWLPH ,QF D ZKROO\RZQHG VWHSGRZQ VXEVLGLDU\ RI WKH &RPSDQ\ 7KH RYHUDOOFRPSHQVDWLRQLVLQDFFRUGDQFHZLWKWKHDSSURYDOJLYHQE\WKH m) 0DNHUHSRUWVWRWKH%RDUGDVDSSURSULDWH VKDUHKROGHUVRIWKH&RPSDQ\

n) 5HYLHZ DQG UHDVVHVV WKH DGHTXDF\ RI WKLV FKDUWHU Non-Executive Directors: periodically and recommend any proposed changes to WKH%RDUGIRUDSSURYDOIURPWLPHWRWLPH 'XULQJ WKH \HDU WKH &RPSDQ\ SDLG VLWWLQJ IHHV WR LWV 1RQ ([HFXWLYH'LUHFWRUVIRUDWWHQGLQJWKHPHHWLQJVRIWKH%RDUG 'XULQJWKH¿QDQFLDO\HDUHQGHG0DUFKWKH15&PHW of Directors, Audit Committee and Finance Committee of the IRXUWLPHVRQ0D\$XJXVW2FWREHU &RPSDQ\ 7KH &RPSDQ\ DOVR SDLG FRPPLVVLRQ WR LWV 1RQ DQG-DQXDU\7KHQHFHVVDU\TXRUXPZDVSUHVHQWIRU ([HFXWLYH'LUHFWRUVDVDSSURYHGE\WKH%RDUGZLWKLQWKHOLPLWV DOOWKHPHHWLQJV DSSURYHGE\WKHVKDUHKROGHUVRIWKH&RPSDQ\7KHDPRXQW RI VXFK FRPPLVVLRQ WDNHQ WRJHWKHU IRU DOO 1RQ([HFXWLYH Attendance details of each member at NRC, during the year 'LUHFWRUV GRHV QRW H[FHHG RI WKH QHW SUR¿WV RI WKH HQGHG0DUFKDUHDVIROORZV &RPSDQ\LQD¿QDQFLDO\HDU7KHVDLGFRPPLVVLRQLVGHFLGHG HDFK\HDUE\WKH%RDUGRI'LUHFWRUVDQGGLVWULEXWHGDPRQJVW WKH 1RQ([HFXWLYH 'LUHFWRUV EDVHG RQ WKHLU DWWHQGDQFH DQG 1XPEHURI 1XPEHURI 1DPHRIWKH FRQWULEXWLRQDWWKH%RDUGDQGFHUWDLQ&RPPLWWHHPHHWLQJVDV Position 0HHWLQJVKHOG 0HHWLQJV &RPPLWWHH0HPEHU well as the time spent on operational matters other than at GXULQJWHQXUH DWWHQGHG PHHWLQJV 0U56ULQLYDVDQ Chairman 0U6KLY1DGDU 0HPEHU 7KHVLWWLQJIHHVDQGFRPPLVVLRQSDLGSD\DEOHWRWKH1RQ ([HFXWLYH 'LUHFWRUV IRU WKH \HDU HQGHG 0DUFK DUH 0V5RELQ$QQ$EUDPV 0HPEHU as under: 0V5RVKQL1DGDU0DOKRWUD 0HPEHU Sitting Fees &RPPLVVLRQ Further, during the year under review, one meeting of the for the FY for the FY 1DPHRIWKH'LUHFWRU 15&ZDVKHOGYLDWHOHFRQIHUHQFHFDOORQ-XQHDQG WKHGHFLVLRQVZHUHWDNHQWKURXJKUHVROXWLRQE\FLUFXODWLRQ ൘LQFURUH ൘LQFURUH

5HPXQHUDWLRQ3ROLF\DQGFULWHULDRIPDNLQJSD\PHQWVWR 0U'HHSDN.DSRRU ([HFXWLYHDQG1RQ([HFXWLYH'LUHFWRUV 0U-DPHV3KLOLS$GDPF]\N 0U60DGKDYDQ The Remuneration Policy of the Company is aimed at rewarding performance, based on a review of achievements 'U0RKDQ&KHOODSSD 0V1LVKL9DVXGHYD 141 Corporate Governance Report Sitting Fees &RPPLVVLRQ d) Allow the Company to compete in each relevant for the FY for the FY HPSOR\PHQWPDUNHW 1DPHRIWKH'LUHFWRU e) 3URYLGH FRQVLVWHQF\ LQ UHPXQHUDWLRQ DQG EHQH¿WV ൘LQFURUH ൘LQFURUH WKURXJKRXWWKH&RPSDQ\ 0V5RELQ$QQ$EUDPV 0V5RVKQL1DGDU0DOKRWUD f) Align the performance of the business with the 'U6RVDOH6KDQNDUD6DVWU\ performance of key individuals and teams within the &RPSDQ\ 0U6KLNKDU1HHONDPDO 0DOKRWUD ,9 5HPXQHUDWLRQ3ROLF\IRU'LUHFWRUV 0U56ULQLYDVDQ 0U6LPRQ-RKQ(QJODQG (a) Executive Directors 0U6XGKLQGDU.ULVKDQ.KDQQD(5) The remuneration of the Executive Directors will be 0U7KRPDV6LHEHU recommended by the Nomination and Remuneration Notes: &RPPLWWHH &RPPLWWHH WR WKH %RDUG RI 'LUHFWRUV %RDUG DQG DIWHU DSSURYDO E\ WKH %RDUG WKH VDPH 0U -DPHV 3KLOLS $GDPF]\N FHDVHG WR EH WKH 'LUHFWRU RI WKH ZLOOEHSXWXSIRUWKHVKDUHKROGHU¶VDSSURYDO &RPSDQ\ZHI2FWREHUGXHWRKLVGHPLVH 'U0RKDQ&KHOODSSDZDVDSSRLQWHGDVDQ$GGLWLRQDO'LUHFWRULQWKH (b) Non-Executive Directors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¿WVRIWKH&RPSDQ\LQD¿QDQFLDO\HDUFDOFXODWHG 0U 6XGKLQGDU .ULVKDQ .KDQQD UHVLJQHG DV D 'LUHFWRU RI WKH DV SHU WKH UHTXLUHPHQWV RI 6HFWLRQ RI WKH &RPSDQ\ZHI$SULO &RPSDQLHV$FW ³$FW´ 7KHVDLGFRPPLVVLRQ VKDOOEHGHFLGHGHDFK\HDUE\WKH%RDUGRI'LUHFWRUV There were no other pecuniary relationships or transactions of DQGGLVWULEXWHGDPRQJVWWKH1RQ([HFXWLYH'LUHFWRUV WKH1RQ([HFXWLYH'LUHFWRUVYLVjYLVWKH&RPSDQ\ EDVHGRQWKHLUDWWHQGDQFHFRQWULEXWLRQDWWKH%RDUG and certain Committee meetings and the time spent The Remuneration Policy is provided herewith pursuant to RQRSHUDWLRQDOPDWWHUVRWKHUWKDQDWPHHWLQJV 6HFWLRQ RI WKH $FW DQG 5HJXODWLRQ RI WKH /LVWLQJ 5HJXODWLRQV The Company shall reimburse the travelling, hotel DQG RWKHU RXWRISRFNHW H[SHQVHV LQFXUUHG E\ WKH Remuneration Policy for Directors, Key Managerial Directors for attending the meetings and for other Personnel and other employees ZRUNRQEHKDOIRIWKH&RPSDQ\

, 6FRSHRIWKH3ROLF\ 9 5HPXQHUDWLRQ3ROLF\IRU.H\0DQDJHULDO3HUVRQQHO

The Remuneration Policy (“Policy”) applies to the 7KH&RPSDQ\¶V5HPXQHUDWLRQ3ROLF\RI.H\0DQDJHULDO 'LUHFWRUVDQG.H\0DQDJHULDO3HUVRQQHORIWKH&RPSDQ\ Personnel (other than Executive Directors covered above) DQGRWKHUHPSOR\HHVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHV and other employees is driven by their success and SHUIRUPDQFHRIWKH&RPSDQ\7KURXJKLWVFRPSHQVDWLRQ ,, %DFNJURXQG programme, the Company endeavors to attract, retain, GHYHORS DQG PRWLYDWH D KLJK SHUIRUPDQFH ZRUNIRUFH A transparent, fair and reasonable process for determining 7KH&RPSDQ\IROORZVDFRPSHQVDWLRQPL[RI¿[HGSD\ the appropriate remuneration at all career levels and roles SHUIRUPDQFHEDVHGYDULDEOHSD\EHQH¿WVDQGSHUTXLVLWHV DVSUHYDOHQWLQWKH&RPSDQ\LVUHTXLUHGWRHQVXUHWKDW ORQJWHUPFDVKLQFHQWLYHSODQVDQGHTXLW\EDVHGUHZDUG WKH VKDUHKROGHUV UHPDLQ LQIRUPHG DQG FRQ¿GHQW DERXW SODQV7KH&RPSDQ\PD\JUDQWORDQVWRWKHHPSOR\HHV WKHPDQDJHPHQWRIWKH&RPSDQ\ DV SHU LWV (PSOR\HHV¶ 3HUVRQDO /RDQ 3ROLF\ ,QGLYLGXDO performance pay is determined by business performance ,,, 2EMHFWLYH and the performance of the individuals measured through SHULRGLFDSSUDLVDOSURFHVV7KH&RPSDQ\ZLOOHQVXUHWKDW 7KHREMHFWLYHVRIWKLV3ROLF\DUH level and composition of remuneration is reasonable and VXI¿FLHQWWRDWWUDFWUHWDLQDQGPRWLYDWHDOOHPSOR\HHVWR a) To create a transparent system of determining the contribute to their potential and in turn run the Company appropriate level of remuneration throughout all VXFFHVVIXOO\ FDUHHUOHYHOVDQGUROHVRIWKH&RPSDQ\ 9, 'LVFORVXUH b) 0RWLYDWH WKH 'LUHFWRUV .H\ 0DQDJHULDO 3HUVRQQHO and other employees, to perform to their maximum 7KH5HPXQHUDWLRQ3ROLF\VKDOOEHGLVFORVHGLQWKH'LUHFWRUV¶ SRWHQWLDO Report, Annual Report and such other places as may be UHTXLUHGE\WKH$FWDQGUXOHVIUDPHGWKHUHXQGHU(TXLW\ c) To reward performance and meritocracy, based on Listing Agreement entered into with the stock exchanges review of achievements on a regular basis and is LQFOXGLQJ DQ\ VWDWXWRU\ PRGL¿FDWLRQ V RU UHHQDFWPHQW in consonance and benchmarked with the existing WKHUHRI DQGVXFKRWKHUODZVIRUWKHWLPHEHLQJLQIRUFH LQGXVWU\SUDFWLFHV Annual Report 2019-20 142 9,, ,PSOHPHQWDWLRQ k) To plan and prepare strategies for managing the foreign exchange exposure – the Committee to approve the This Policy has been approved and adopted by the KHGJLQJSROLF\DQGPRQLWRULWVSHUIRUPDQFH %RDUGRIWKH&RPSDQ\DIWHUWKHUHFRPPHQGDWLRQRIWKH &RPPLWWHHRIWKH&RPSDQ\$Q\UHYLVLRQVWRWKH3ROLF\ l) To approve the investment policy and review the ZLOO EH VXEPLWWHG WR WKH %RDUG IRU FRQVLGHUDWLRQ DQG SHUIRUPDQFHWKHUHRI DSSURYDOXSRQUHFRPPHQGDWLRQE\WKH&RPPLWWHH P 7RUHFRPPHQGGLYLGHQGSROLF\WRWKH%RDUG )LQDQFH&RPPLWWHH n) To review and approve the insurance coverage and $VRQ0DUFKWKH)LQDQFH&RPPLWWHHFRPSULVHGRI SURJUDPIRUWKH&RPSDQ\ the following members: o) To consider and approve the guarantees / bonds a) 0U60DGKDYDQ &KDLUPDQ provided by the Company either directly or through banks b) 0U6KLY1DGDU LQFRQQHFWLRQZLWKWKH&RPSDQ\¶VEXVLQHVV

c) 0V5RVKQL1DGDU0DOKRWUD p) To approve opening / closing of bank accounts of the d) 0U56ULQLYDVDQ Company and change in signatories for operating the EDQNDFFRXQWV e) 0U7KRPDV6LHEHU T 7RSHUIRUPDQ\RWKHUDFWLYLWLHVRUUHVSRQVLELOLWLHVDVVLJQHG 1RWHV WRWKH&RPPLWWHHE\WKH%RDUGRI'LUHFWRUVIURPWLPHWR WLPH 0U7KRPDV6LHEHUZDVFRRSWHGDVWKHPHPEHURIWKH )LQDQFH&RPPLWWHHZHI6HSWHPEHU r) To delegate authorities from time to time to the Executives 0U 6KLNKDU 1HHONDPDO 0DOKRWUD ZDV FRRSWHG DV D / Authorised persons to implement the decisions of the PHPEHURIWKH)LQDQFH&RPPLWWHHZHI0D\ &RPPLWWHHZLWKLQWKHSRZHUVDXWKRULVHGDERYH

7HUPVRI5HIHUHQFH 'XULQJWKH¿QDQFLDO\HDUHQGHG0DUFKWKH&RPPLWWHH PHW RQFH RQ $SULO 7KH QHFHVVDU\ TXRUXP ZDV The Terms of Reference of the Finance Committee are as SUHVHQWIRUWKHPHHWLQJ under: Further, during the year under review, four meetings of the a) To review and approve the capital structure plans and Finance Committee were held via teleconference call on July VSHFL¿FHTXLW\DQGGHEW¿QDQFLQJVDQGUHFRPPHQGWKH -XO\ -DQXDU\ DQG )HEUXDU\ VDPHIRUDSSURYDOWRWKH%RDUG DQG WKH GHFLVLRQV ZHUH WDNHQ WKURXJK UHVROXWLRQV E\ FLUFXODWLRQ b) To review and approve the annual budgets and other ¿QDQFLDO HVWLPDWHV DQG SURYLGH LWV UHFRPPHQGDWLRQV WR 6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHH WKH%RDUG $V RQ 0DUFK WKH 6WDNHKROGHUV¶ 5HODWLRQVKLS c) To review the actual performance of the Company against Committee comprised of the following members: WKHEXGJHWV a) 0U60DGKDYDQ &KDLUPDQ d) To review and approve the capital expenditure plans and b) 0U6KLY1DGDU VSHFL¿FFDSLWDOSURMHFWVDQGUHFRPPHQGVWKHVDPHWRWKH %RDUGIRUDSSURYDO c) 0V5RVKQL1DGDU0DOKRWUD 7KH&KDLUPDQRIWKH&RPPLWWHH0U60DGKDYDQLVD1RQ e) To evaluate the performance of and returns on approved ([HFXWLYH,QGHSHQGHQW'LUHFWRURQWKH%RDUGRIWKH&RPSDQ\ FDSLWDOH[SHQGLWXUH 7HUPVRI5HIHUHQFH f) To consider and approve the proposal which involves IXQGLQJDVVHWVRQRSHUDWLQJDQGRU¿QDQFLDOOHDVHLQWKH 7KH6WDNHKROGHUV¶5HODWLRQVKLS&RPPLWWHHKDVEHHQIRUPHG QRUPDOFRXUVHRIEXVLQHVV to undertake the following activities:

g) To review and approve the proposals for mergers, a) To review and take all necessary actions for redressal of DFTXLVLWLRQV DQG GLYHVWLWXUHV DQG SURYLGH LWV grievances and complaints of security holders as may be UHFRPPHQGDWLRQVWRWKH%RDUG UHTXLUHGLQWKHLQWHUHVWVRIWKHVHFXULW\KROGHUV

K 7RHYDOXDWHWKHSHUIRUPDQFHRIDFTXLVLWLRQV E 7R DSSURYH UHTXHVWV RI UHPDWHULDOLVDWLRQ RI VKDUHV securities, issuance of split and duplicate shares / security i) To consider and approve the proposals for fresh FHUWL¿FDWHV investments by way of infusion of capital and / or providing of loan and any further investments (by capital / loan) in During the year under review, the Committee met four times ZKROO\RZQHGVXEVLGLDULHV%UDQFKHVDQGSURYLGLQJDQ\ RQ 0D\ -XO\ 6HSWHPEHU DQG JXDUDQWHHVIRUIXQGLQJWKHVDPH 6HSWHPEHU7KHQHFHVVDU\TXRUXPZDVSUHVHQWDW DOOWKHPHHWLQJV M 7R HYDOXDWH WKH SHUIRUPDQFH RI VXEVLGLDULHV -9V %UDQFKHV

143 Corporate Governance Report 1DPH'HVLJQDWLRQDQG$GGUHVVRI&RPSOLDQFH2I¿FHU management process and embedding of a comprehensive risk management culture in the Company at every stage 0U0DQLVK$QDQG RILWVRSHUDWLRQV 6U9LFH3UHVLGHQW &RPSDQ\6HFUHWDU\ 7R DVVLVW WKH %RDUG LQ PDLQWHQDQFH DQG GHYHORSPHQW RI D HCL Technologies Limited supportive culture, in relation to the management of risk, 3ORW1R$6HFWRU1RLGD83,QGLD appropriately embedded through procedures, training and 7HO leadership actions so that all employees are alert to the wider LPSDFWRQWKHZKROHRUJDQL]DWLRQRIWKHLUDFWLRQVDQGGHFLVLRQV (PDLOPDQLVKDQDQG#KFOFRP To maintaiQDQDJJUHJDWHGYLHZRQWKHULVNSUR¿OHRIWKH ,QYHVWRUV¶*ULHYDQFHV &RPSDQ\LQGXVWU\LQDGGLWLRQWRWKHSUR¿OHRILQGLYLGXDO ULVNV 7KH IROORZLQJ WDEOH VKRZV WKH 6KDUHKROGHUV¶ FRPSODLQWV UHFHLYHGGXULQJWKH¿QDQFLDO\HDUHQGHG0DUFK 7RHQVXUHWKHLPSOHPHQWDWLRQRIDQGFRPSOLDQFHZLWKWKH REMHFWLYHVVHWRXWLQWKH5LVN0DQDJHPHQW3ROLF\ 6RXUFHRI&RPSODLQW 5HFHLYHG 5HVROYHG 3HQGLQJ 7RDGYLVHWKH%RDUGRQDFFHSWDEOHOHYHOVRIULVNDSSHWLWH Directly from the Investors tolerance and strategy appropriate to the size and nature of business and the complexity and geographic spread of 7KURXJK6(%,6WRFN 55 WKH&RPSDQ\¶VRSHUDWLRQV ([FKDQJHVHWF 7R UHYLHZ DQG UHDVVHVV WKH DGHTXDF\ RI WKLV FKDUWHU Total - periodically and recommend any proposed changes to WKH%RDUGIRUDSSURYDOIURPWLPHWRWLPH (PSOR\HHV¶6WRFN2SWLRQ$OORWPHQW&RPPLWWHH 7KH &RPPLWWHH VKDOO KDYH DFFHVV WR DQ\ LQWHUQDO $VRQ0DUFKWKH(PSOR\HHV¶6WRFN2SWLRQ$OORWPHQW LQIRUPDWLRQQHFHVVDU\WRIXO¿OOLWVRYHUVLJKWUROH$VDQG Committee comprised of the following members: ZKHQ UHTXLUHG WKH &RPPLWWHH PD\ DVVLJQ WDVNV WR WKH ,QWHUQDO$XGLWRUWKH&RPSDQ\¶VLQWHUQDOULVNPDQDJHPHQW D 0U6KLY1DGDU team and any external expert advisors considered E 0U60DGKDYDQ QHFHVVDU\IRUDQ\WDVNDQGWKH\ZLOOSURYLGHWKHLU¿QGLQJV WRWKH&RPPLWWHH F 0U3UDWHHN$JJDUZDO This Committee has been formed to allot shares to the During the year under review, the Committee met four times employees who have exercised their stock options under the RQ$SULO -XO\ 6HSWHPEHU DQG 6WRFN2SWLRQ3ODQVRIWKH&RPSDQ\ )HEUXDU\7KHQHFHVVDU\TXRUXPZDVSUHVHQWDWDOO WKHPHHWLQJV 'XULQJWKH¿QDQFLDO\HDUXQGHUUHYLHZWKH&RPPLWWHHPHW¿YH WLPHV RQ -XO\ -XO\ 6HSWHPEHU 'LYHUVLW\&RPPLWWHH 2FWREHU DQG 1RYHPEHU 7KH QHFHVVDU\ TXRUXPZDVSUHVHQWIRUDOOWKHPHHWLQJV ,QRUGHUWRDI¿UPJXLGHDQGVXSSRUWWKHFRPPLWPHQWRIWKH Company to drive gender diversity, the Company has in place 5LVN0DQDJHPHQW&RPPLWWHH D &RPPLWWHH RI WKH %RDUG RI 'LUHFWRUV QDPHG DV 'LYHUVLW\ &RPPLWWHH $V RQ 0DUFK WKH 5LVN 0DQDJHPHQW &RPPLWWHH comprised of the following members: $VRQ0DUFKWKH'LYHUVLW\&RPPLWWHHFRPSULVHGRI the following members: D 0U60DGKDYDQ &KDLUPDQ a) 0V5RELQ$QQ$EUDPV &KDLUSHUVRQ E 0U'HHSDN.DSRRU b) 0V5RVKQL1DGDU0DOKRWUD F 0V1LVKL9DVXGHYD c) 0U6KLY1DGDU G 0V5RELQ$QQ$EUDPV 7HUPVRI5HIHUHQFH 7HUPVRI5HIHUHQFH *HQGHU'LYHUVLW\± 7RDVVLVWWKH%RDUGRI'LUHFWRUV ³%RDUG´ LQRYHUVHHLQJ WKH UHVSRQVLELOLWLHV ZLWK UHJDUG WR WKH LGHQWL¿FDWLRQ 7RVXSSRUWWKHSURJUHVVLRQRIZRPHQLQWRVHQLRUUROHV evaluation and mitigation of operational, strategic and To ensure fair representation of women candidates in the H[WHUQDOHQYLURQPHQWDOULVNVLQFOXGLQJF\EHUVHFXULW\ULVNV KLULQJSURFHVV 7R DVVLVW WKH %RDUG LQ WDNLQJ DSSURSULDWH PHDVXUHV WR To ensure fairness in promotion, compensation, rewards achieve a prudent balance between risk and reward in both DQGOHDGHUVKLSGHYHORSPHQWSURFHVV RQJRLQJDQGQHZEXVLQHVVDFWLYLWLHV To build the leadership pipeline to achieve balanced 7R UHYLHZ DQG DSSURYH WKH 5LVN 0DQDJHPHQW 3ROLF\ DQG JHQGHUUDWLRWRDOOWKHOHYHOVRIOHDGHUVKLS DVVRFLDWHGIUDPHZRUNSURFHVVHVDQGSUDFWLFHV 7RPDQDJHELDVLQWDOHQWUHYLHZDQGVXFFHVVLRQSODQQLQJ 7R HYDOXDWH VLJQL¿FDQW ULVN H[SRVXUHV LQFOXGLQJ EXVLQHVV Culture and Ethnicity – FRQWLQXLW\SODQQLQJDQGGLVDVWHUUHFRYHU\SODQQLQJ 7R DVVHVV PDQDJHPHQW¶V DFWLRQV LQ PLWLJDWLQJ WKH ULVN 7RPHDVXUH&XOWXUHYLDVHWWLQJRI&XOWXUDO,QGLFDWRUV H[SRVXUHVLQDWLPHO\PDQQHU 7RSURPRWHLQWHUFXOWXUDOFRPSHWHQFH 7RSURPRWHHQWHUSULVHZLGH5LVN0DQDJHPHQWDQGREWDLQ 7RHQVXUH+LJK,PSDFW/HDGHUVKLS7UDQVLWLRQV FRPIRUW EDVHG RQ DGHTXDWH DQG DSSURSULDWH HYLGHQFH 7RFUHDWHDFXOWXUDOO\EDODQFHGGLYHUVHZRUNIRUFH WKDW WKH 0DQDJHPHQW RI WKH &RPSDQ\ HQVXUHV WKH implementation and effective functioning of the entire risk 7R HPSRZHU SHRSOH RI GLIIHUHQW HWKQLFLW\ DQG GLYHUVH FXOWXUDOEDFNJURXQGV

Annual Report 2019-20 144 Individuals with Disabilities – 'HWDLOHG LQIRUPDWLRQ RQ PDWHULDOO\ VLJQL¿FDQW UHODWHG party transactions is enclosed in Annexure WRWKH%RDUG5HSRUW 7RHQVXUHQRQGLVFULPLQDWLRQDQGUHFRJQLWLRQRIWKHGLYHUVLW\ A Policy on Related Party Transactions formulated pursuant RISHRSOHZLWKGLVDELOLWLHV to the provisions of the Act and the Listing Regulations entered 7R HQVXUH WKDW MRE RSSRUWXQLW\ DQQRXQFHPHQWV FRQWDLQ into by the Company with the Stock Exchanges and approved language emphasizing hiring for individuals with disabilities E\ WKH %RDUG LV DYDLODEOH RQ WKH ZHEVLWH RI WKH &RPSDQ\ DW DQGDFFRUGLQJO\LGHQWLI\WKHUROHVRSHQSRVLWLRQVDYDLODEOH KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV. 7RHQVXUHLPSOHPHQWDWLRQRILQFOXVLYHJOREDOSROLFLHV CODE OF BUSINESS ETHICS AND CONDUCT 7RHQVXUHVSHFLDOL]HGWUDLQLQJLVSURYLGHGWRDOOHPSOR\HHV IRUHQVXULQJDFFHVVLEOHZRUNSODFH 7KH%RDUGKDVSUHVFULEHGD&RGHRI%XVLQHVV(WKLFVDQG&RQGXFW &2%(& WKDWSURYLGHVIRUWUDQVSDUHQF\HWKLFDOFRQGXFWDJHQGHU 7R WUDFN DQG PRQLWRU HPSOR\PHQW RI ,QGLYLGXDOV ZLWK 'LVDELOLWLHV ,:' RQDTXDUWHUO\EDVLV IULHQGO\ ZRUNSODFH OHJDO FRPSOLDQFH DQG SURWHFWLRQ RI &RPSDQ\¶V SURSHUW\DQGLQIRUPDWLRQ&2%(&LVDVHWRIJXLGLQJSULQFLSOHVDQG During the year under review, the Committee met four times covers all directors, employees, third party vendors, consultants RQ0D\-XO\2FWREHUDQG-DQXDU\ DQGFXVWRPHUVDFURVVWKHZRUOG&2%(&DOVRLQFOXGHVWKHGXWLHVRI 7KH QHFHVVDU\ TXRUXP ZDV SUHVHQW IRU DOO WKH ,QGHSHQGHQW'LUHFWRUVDVPHQWLRQHGLQ6FKHGXOH,9RIWKH$FW&2%(& PHHWLQJV is periodically reviewed taking into account the prevailing business DQGHWKLFDOSUDFWLFHV7KH&RGHLVDOVRSRVWHGRQWKHZHEVLWHRIWKH SUCCESSION PLANNING Company KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV

Succession Planning aids the Company in identifying and $OO %RDUG PHPEHUV DQG VHQLRU PDQDJHPHQW SHUVRQQHO KDYH GHYHORSLQJ LQWHUQDO SHRSOH ZLWK WKH SRWHQWLDO WR ¿OO FHUWDLQ NH\ FRQ¿UPHGFRPSOLDQFHZLWKWKH&RGHIRUWKH¿QDQFLDO\HDUHQGHG SRVLWLRQV LQ WKH &RPSDQ\ YL] &KLHI ([HFXWLYH 2I¿FHU &KLHI 0DUFK$GHFODUDWLRQWRWKLVHIIHFWVLJQHGE\WKH&KDLUPDQ 2SHUDWLQJ2I¿FHU&KLHI)LQDQFLDO2I¿FHUDQG&RPSDQ\6HFUHWDU\ &KLHI6WUDWHJ\2I¿FHUDQG&(2RIWKH&RPSDQ\LVSURYLGHGLQ It increases the availability of experienced and capable employees WKLV$QQXDO5HSRUW WKDWDUHSUHSDUHGWRDVVXPHWKHVHUROHVDVWKH\EHFRPHDYDLODEOH Succession Planning is a part of the charter of the Nomination &2'()2535(9(17,212),16,'(575$',1* DQG 5HPXQHUDWLRQ &RPPLWWHH RI WKH &RPSDQ\ 7KH &RPPLWWHH shall identify, screen and review candidates, inside or outside the The Company has comprehensive guidelines on prevention of &RPSDQ\DQGSURYLGHLWVUHFRPPHQGDWLRQVWRWKH%RDUG LQVLGHUWUDGLQJLQOLQHZLWKWKH6(%, 3URKLELWLRQRI,QVLGHU7UDGLQJ 5HJXODWLRQV DVDPHQGHGIURPWLPHWRWLPH 7KH&RGHRI INDEPENDENCE OF STATUTORY AUDITORS &RQGXFWRQ3URKLELWLRQRI,QVLGHU7UDGLQJ µ,QVLGHU7UDGLQJ&RGH¶ LQWHUDOLD SURKLELWV WUDGH LQ WKH VKDUHV RI WKH &RPSDQ\ E\ WKH 7KH %RDUG HQVXUHV WKDW WKH VWDWXWRU\ DXGLWRUV RI WKH &RPSDQ\ DUH 'HVLJQDWHG3HUVRQV DVGH¿QHGXQGHUWKH,QVLGHU7UDGLQJ&RGH LQGHSHQGHQWDQGKDYHDQDUP¶VOHQJWKUHODWLRQVKLSZLWKWKH&RPSDQ\ and their immediate relatives, while in possession of unpublished SULFH VHQVLWLYH LQIRUPDWLRQ LQ UHODWLRQ WR WKH &RPSDQ\ 7KH TOTAL FEE PAID TO STATUTORY AUDITORS Company, within two trading days of receipt of the information under the initial and continual disclosures from the Designated )HHIRU$XGLW6HUYLFHV 3HUVRQV DV GH¿QHG XQGHU WKH ,QVLGHU 7UDGLQJ &RGH GLVFORVHV )RUWKH¿QDQFLDO\HDUHQGHG0DUFKDWRWDOIHHRI൘ WKHVDPHWRWKHH[WHQWUHTXLUHGWRDOOWKH6WRFN([FKDQJHVZKHUH crore was paid / incurred by the Company and its subsidiaries WKHVKDUHVRIWKH&RPSDQ\DUHOLVWHG for all audit services availed (in India and overseas), on a FRQVROLGDWHGEDVLVRIZKLFK൘FURUHZHUHSDLGLQFXUUHGE\WKH ANTI-BRIBERY POLICY AND ANTI-CORRUPTION POLICY Company, to the Statutory Auditors of the Company, for statutory DXGLWVHUYLFHVSURYLGHGE\WKHP൘FURUHZDVSDLGLQFXUUHG 7RHQVXUHWKH&RPSDQ\¶VSROLF\IRUFRQGXFWLQJLWVEXVLQHVVDFWLYLWLHV by domestic subsidiaries, for statutory audit services, to the with honesty, integrity and highest possible ethical standards and 6WDWXWRU\$XGLWRUVDQGWKHLUQHWZRUN¿UPVDQG൘FURUHZDV WKH &RPSDQ\¶V FRPPLWPHQW WRZDUGV SUHYHQWLRQ GHWHUUHQFH DQG detection of fraud, bribery and other corrupt business practices, the paid / incurred by the Company and its overseas subsidiaries, &RPSDQ\KDVLQSODFHDQ$QWL%ULEHU\DQG$QWL&RUUXSWLRQ3ROLF\ IRU DXGLW RI 86 *$$3 ¿QDQFLDO VWDWHPHQWV RQ FRQVROLGDWHG that applies to the employees at all levels, Directors, consultants, EDVLVDQGDXGLWRIUHVSHFWLYHRYHUVHDVVXEVLGLDULHVWRWKH¿UPV DJHQWVDQGRWKHUSHUVRQVDVVRFLDWHGZLWKWKH&RPSDQ\LWVDI¿OLDWHV ZKLFK DUH PHPEHU ¿UPV DQGRU OLFHQVHHV RI WKH LQWHUQDWLRQDO DQGVXEVLGLDULHV7KLV3ROLF\FRYHUVPDWWHUVUHODWLQJWRKRVSLWDOLW\ organization of which the Statutory Auditor of the Company is a offset obligations, employment of relatives, guidance on gifts, VXEOLFHQVHH political / charitable contributions, extortion / blackmail responses HWF 7KH SROLF\ LV DYDLODEOH RQ WKH ZHEVLWH RI WKH &RPSDQ\ DW )HHIRU1RQ$XGLW6HUYLFHV KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV

)RUWKH¿QDQFLDO\HDUHQGHG0DUFKDWRWDOIHHRI൘ 35(9(17,21$1'5('5(66$/2)6(;8$/+$5$660(17 crore was paid / incurred by the Company and its subsidiaries $7:25.3/$&(32/,&< IRUDOOQRQDXGLWVHUYLFHVDYDLOHG LQ,QGLDDQGRYHUVHDV RQD consolidated basis to the Statutory Auditors of the Company, In order to provide a safe and healthy work environment free WKHLUQHWZRUN¿UPVDQGWRWKH¿UPVZKLFKDUHPHPEHU¿UPV of any hassles and all kinds of harassment including sexual and/or licensees of the international organization of which the harassment and to prevent and redress such harassment 6WDWXWRU\$XGLWRURIWKH&RPSDQ\LVDVXEOLFHQVHH complaints, the Company has in place Prevention and Redressal RI6H[XDO+DUDVVPHQWDW:RUNSODFH3ROLF\7KLVSROLF\DSSOLHVWR 0$7(5,$//<6,*1,),&$175(/$7('3$57<75$16$&7,216 DOOHPSOR\HHVRIWKH&RPSDQ\LWVVXEVLGLDULHVDQGMRLQWYHQWXUHV operating out of India like regular, temporary, ad hoc, daily wagers, contractual staff, vendors, clients, consultants, trainees, 7KHUHKDYHEHHQQRPDWHULDOO\VLJQL¿FDQWUHODWHGSDUW\WUDQVDFWLRQV probationers, apprentices, contract labour and also all visitors to monetary transactions or relationships between the Company WKH&RPSDQ\$Q\FRPSODLQWDERXWKDUDVVPHQWVKDOOEHWUHDWHG and its Directors, management, subsidiary or relatives, except for XQGHUWKLV3ROLF\7KLV3ROLF\LVQRWFRQ¿QHGWRWKHDFWXDOZRUNLQJ WKRVHGLVFORVHG LQWKH¿QDQFLDO VWDWHPHQWVIRUWKH¿QDQFLDO \HDU place of the employees in the sense of the physical space in which 145 Corporate Governance Report paid work may be performed as per the prescribed duty hours but &RPSODLQWVUHFHLYHGDJDLQVW³&´/HYHO2I¿FHUV &(2&)2&+52 also includes any place visited by the employee arising out of or 3UHVLGHQW&RUSRUDWH 2I¿FHUV RU FRPSODLQWV DJDLQVW DQ\ 'LUHFWRU GXULQJWKHFRXUVHRIHPSOR\PHQW7KH&RPSDQ\KDVFRQVWLWXWHGD or Chairman of the Company are overseen by the Chairman of the FRPPLWWHHIRUWKHUHGUHVVDORIDOOVH[XDOKDUDVVPHQWFRPSODLQWV Audit Committee and disciplinary action is decided by the Audit 7KHVH PDWWHUV DUH DOVR EHLQJ UHSRUWHG WR WKH $XGLW &RPPLWWHH &RPPLWWHH&RPSODLQWVDJDLQVWRWKHUHPSOR\HHVDUHRYHUVHHQE\ 'XULQJWKH\HDUHQGHG0DUFKWKH&RPSDQ\KDVUHFHLYHG the Head of Internal Audit and disciplinary action is decided by the QLQH FRPSODLQWVRQVH[XDOKDUDVVPHQWWKDWZHUHFODVVL¿HGDV :KLVWOHEORZHU&RPPLWWHH7KH:KLVWOHEORZHUKDVGLUHFWDFFHVVWR VLJQL¿FDQWLQFLGHQWVIRULQYHVWLJDWLRQDOORIZKLFKZHUHGLVSRVHG and appropriate actions were taken and no complaints remain the Chairman of the Audit Committee in appropriate or exceptional SHQGLQJDVRI0DUFK cases and the Chairman of the Audit Committee is authorized WRSUHVFULEHVXLWDEOHGLUHFWLRQVLQWKLVUHJDUG7KHLGHQWLW\RIWKH :+,67/(%/2:(532/,&< :KLVWOHEORZHULVNHSWFRQ¿GHQWLDO

The principles of trust through transparency and accountability The Audit Committee reviews the policy and its implementation DUH DW WKH FRUH RI WKH &RPSDQ\¶V H[LVWHQFH 7R HQVXUH VWULFW compliance with ethical and legal standards across the company, RQ SHULRGLF EDVLV DQG LV SURYLGHG D TXDUWHUO\ XSGDWH RQ D:KLVWOHEORZHU3ROLF\LVLQSODFHWRSURYLGHDSSURSULDWHDYHQXHV WKH VWDWXV RI YDULRXV FRPSODLQWV UHFHLYHG DQG LQYHVWLJDWHG WRWKH'LUHFWRUVHPSOR\HHVFRQWUDFWRUVFRQWUDFWRUV¶HPSOR\HHV The policy is available on the website of the Company at clients, vendors, internal or external auditors, consultants, law KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV enforcement / regulatory agencies or other third parties to bring to the attention of the management any issues which are perceived 2%6(59$1&(2)7+(6(&5(7$5,$/67$1'$5'6,668(' WREHRIXQHWKLFDOEHKDYLRXULQFOXGLQJEUHDFKRI&RPSDQ\¶V&RGH %<7+(,167,787(2)&203$1<6(&5(7$5,(62),1',$ of Conduct to regulate, monitor and report Insider Trading by Designated Persons and their immediate relatives, including any The Institute of Company Secretaries of India has issued Secretarial incident involving leak or suspected leak of unpublished price 6WDQGDUGVRQ%RDUG0HHWLQJ 66 DQG*HQHUDO0HHWLQJ 66 sensitive information, actual or suspected fraud or violation of ZKLFK ZHUH PDGH FRPSXOVRU\ IRU DOO FRPSDQLHV E\ WKH 0LQLVWU\ WKH&RPSDQ\¶V&RGHRI%XVLQHVV(WKLFVDQG&RQGXFW$OOFDVHV RI &RUSRUDWH $IIDLUV 7KH ,QVWLWXWH KDV DOVR LVVXHG 6HFUHWDULDO UHJLVWHUHG XQGHU WKH :KLVWOHEORZHU 3ROLF\ RI WKH &RPSDQ\ DUH reported to the external Ombudsperson who carries out preliminary 6WDQGDUGRQ'LYLGHQG 66 ZKLFKLVKRZHYHUQRWFRPSXOVRU\ LQYHVWLJDWLRQV 7KH&RPSDQ\DGKHUHVWRWKHVHVWDQGDUGV *(1(5$/%2'<0((7,1*6 7KHORFDWLRQDQGWLPHRIWKH$*0VKHOGDQGGHWDLOVRIVSHFLDOUHVROXWLRQSDVVHGWKHUHDWGXULQJWKHSUHFHGLQJ\HDUVDUHDVIROORZV

)LQDQFLDO

5HDSSRLQWPHQWRI0U56ULQLYDVDQDVDQ,QGHSHQGHQW 'LUHFWRURIWKH&RPSDQ\ 5HDSSRLQWPHQWRI0U60DGKDYDQDVDQ,QGHSHQGHQW The Stein Auditorium, Habitat 'LUHFWRURIWKH&RPSDQ\ $XJXVW $0 :RUOGDW,QGLD+DELWDW&HQWUH 5HDSSRLQWPHQW RI 0V 5RELQ $QQ $EUDPV DV DQ /RGKL5RDG1HZ'HOKL ,QGHSHQGHQW'LUHFWRURIWKH&RPSDQ\ 5HDSSRLQWPHQWRI'U6RVDOH6KDQNDUD6DVWU\DVDQ ,QGHSHQGHQW'LUHFWRURIWKH&RPSDQ\ 3D\PHQWRIFRPPLVVLRQWR1RQ([HFXWLYH'LUHFWRUV

DETAILS OF RESOLUTIONS PASSED THROUGH POSTAL BALLOT

'XULQJWKH\HDUWKH&RPSDQ\VRXJKWWKHDSSURYDORIWKHVKDUHKROGHUVE\ZD\RIRUGLQDU\UHVROXWLRQWKURXJKSRVWDOEDOORWUHPRWHHYRWLQJ IDFLOLW\IRUDSSURYLQJWKHLQFUHDVHLQWKHDXWKRULVHGVKDUHFDSLWDODQGFRQVHTXHQWDOWHUDWLRQRIWKHPHPRUDQGXPRIDVVRFLDWLRQRIWKH &RPSDQ\DQGIRUWKHLVVXHRIERQXVHTXLW\VKDUHVLQWKHSURSRUWLRQRIRQHHTXLW\VKDUHRI5VHDFKIRUHYHU\RQHHTXLW\VKDUHRI5V HDFKKHOGE\WKHVKDUHKROGHURIWKH&RPSDQ\7KHRUGLQDU\UHVROXWLRQVZHUHGXO\DSSURYHGZLWKUHTXLVLWHPDMRULW\RQ1RYHPEHU

3HUVRQFRQGXFWLQJWKH3RVWDO%DOORW

0V1LW\DQDQG6LQJK &R&RPSDQ\6HFUHWDULHVZHUHDSSRLQWHGDVWKH6FUXWLQL]HUIRUFRQGXFWLQJWKHSRVWDOEDOORWUHPRWHHYRWLQJ SURFHVVLQDIDLUDQGWUDQVSDUHQWPDQQHULQDFFRUGDQFHZLWKWKH$FWDQGWKH&RPSDQLHV 0DQDJHPHQWDQG$GPLQLVWUDWLRQ 5XOHV µ0DQDJHPHQW5XOHV¶ PDGHWKHUHXQGHU

3URFHGXUHIROORZHGIRU3RVWDO%DOORW5HPRWH(YRWLQJ

7KHSRVWDOEDOORWZDVFRQGXFWHGLQDFFRUGDQFHZLWKWKHSURYLVLRQVFRQWDLQHGLQ6HFWLRQVDQGDQGRWKHUDSSOLFDEOHSURYLVLRQVLI DQ\RIWKH$FWUHDGZLWK5XOHDQGRIWKH0DQDJHPHQW5XOHVDQG5HJXODWLRQRIWKH/LVWLQJ5HJXODWLRQV7KH&RPSDQ\SURYLGHG WKHIDFLOLW\WRYRWHHLWKHUWKURXJKSK\VLFDOEDOORWRUWKURXJKUHPRWHHYRWLQJWRWKHPHPEHUV7KH&RPSDQ\DYDLOHGWKHVHUYLFHVRI1DWLRQDO 6HFXULWLHV'HSRVLWDU\/LPLWHGIRUWKHSXUSRVHRISURYLGLQJUHPRWHHYRWLQJIDFLOLW\

Annual Report 2019-20 146 The postal ballot notices were sent to the shareholders in electronic form to the email addresses registered with the depository / &RPSDQ\¶V5HJLVWUDUDQG6KDUH7UDQVIHU$JHQW)RUVKDUHKROGHUVZKRVHHPDLODGGUHVVHVZHUHQRWUHJLVWHUHGSK\VLFDOFRSLHVRIWKH SRVWDOEDOORWQRWLFHVZHUHVHQWE\SHUPLWWHGPRGHDORQJZLWKDSRVWDJHSUHSDLGVHOIDGGUHVVHGEXVLQHVVUHSO\HQYHORSH7KH&RPSDQ\ DOVRSXEOLVKHGDQRWLFHLQWKHQHZVSDSHUGHFODULQJWKHGHWDLOVRIFRPSOHWLRQRIGLVSDWFKDQGRWKHUUHTXLUHPHQWVDVPDQGDWHGXQGHUWKH $FWDQGDSSOLFDEOHUXOHV

7KH&RPSDQ\¿[HGDFXWRIIGDWHWRUHFNRQSDLGXSYDOXHRIHTXLW\VKDUHVUHJLVWHUHGLQWKHQDPHRIVKDUHKROGHUVIRUWKHSXUSRVHRIYRWLQJ 6KDUHKROGHUVZHUHDGYLVHGWRFDVWWKHLUYRWHVWKURXJKUHPRWHHYRWLQJGXULQJWKHYRWLQJSHULRG¿[HGIRUWKLVSXUSRVHRUWRH[HUFLVHWKHLU YRWHVWKURXJKSK\VLFDOEDOORWE\VHQGLQJGXO\FRPSOHWHGDQGVLJQHGIRUPVVRDVWRUHDFKWKHVFUXWLQL]HUEHIRUHDVSHFL¿HGGDWHDQGWLPH

$IWHUFRPSOHWLRQRIVFUXWLQ\RIYRWHVWKHVFUXWLQL]HUVXEPLWWHGKLVUHSRUWDQGWKHUHVXOWVRISRVWDOEDOORWHYRWLQJZHUHGHFODUHGE\WKH &KDLUPDQDXWKRULVHGSHUVRQ7KHUHVXOWVZHUHSODFHGRQWKHZHEVLWHRIWKH&RPSDQ\DWZZZKFOWHFKFRP besides being intimated to WKH6WRFN([FKDQJHVDQG1DWLRQDO6HFXULWLHV'HSRVLWRU\/LPLWHG7KHUHVROXWLRQVZHUHGHHPHGWRKDYHEHHQSDVVHGRQWKHODVWGDWHRI YRWLQJ

'HWDLOVRI9RWLQJ3DWWHUQ

%DVHGRQWKH6FUXWLQL]HUV¶5HSRUWWKHGHWDLOVRIWKHYRWLQJSDWWHUQLQUHVSHFWRIWKHUHVROXWLRQVSDVVHGDUHDVXQGHU

9RWHVLQIDYRXURIWKH5HVROXWLRQ 9RWHVDJDLQVWWKH5HVROXWLRQ ,QYDOLG9RWHV 1XPEHURI 1XPEHURI % of 7RWDOQXPEHU % of total 'HVFULSWLRQRIWKH PHPEHUVYRWHG PHPEHUVYRWHG 1XPEHU total RIPHPEHUV 7RWDOQXPEHU 1XPEHURI QXPEHU Resolution WKURXJKHOHFWURQLF WKURXJKHOHFWURQLF RIYDOLG QXPEHU whose RILQYDOLG YDOLGYRWHV RIYDOLG YRWLQJV\VWHPDQG YRWLQJV\VWHPDQG YRWHVFDVW RIYDOLG YRWHVZHUH YRWHVFDVW FDVW VKDUHV YRWHV WKURXJKSK\VLFDO WKURXJKSK\VLFDO VKDUHV YRWHV GHFODUHG VKDUHV FDVW EDOORWIRUP EDOORWIRUP FDVW LQYDOLG ,QFUHDVHLQWKH$XWKRULVHG 6KDUH&DSLWDODQG FRQVHTXHQWDOWHUDWLRQ RIWKH0HPRUDQGXP RI$VVRFLDWLRQRIWKH &RPSDQ\ Issue of Bonus Shares

68%6,',$5< &203$1,(6 $1' 32/,&< 21 0$7(5,$/ promoters, Directors, the management, senior management SUBSIDIARY SHUVRQQHO WKHLU UHODWLYHV HWF WKDW PD\ KDYH DQ\ SRWHQWLDO FRQÀLFWZLWKWKHLQWHUHVWRIWKH&RPSDQ\7KH&RPSDQ\KDV The Company has formulated and adopted a Policy for REWDLQHGUHTXLVLWHGHFODUDWLRQVIURPDOO'LUHFWRUVDQGVHQLRU GHWHUPLQLQJ 0DWHULDO 6XEVLGLDU\ LQ OLQH ZLWK WKH UHTXLUHPHQWV RI management personnel in this regard and the same were WKH/LVWLQJ5HJXODWLRQV7KH3ROLF\DLPVWRVHWRXWWKHSULQFLSOHV SODFHGEHIRUHWKH%RDUGRI'LUHFWRUV IRUGHWHUPLQLQJDPDWHULDOVXEVLGLDU\7KH3ROLF\RQWKH0DWHULDO Subsidiary is available on the website of the Company at E &RPSOLDQFHVE\WKH&RPSDQ\ KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV 7KH&RPSDQ\KDVFRPSOLHGZLWKWKHUHTXLUHPHQWVRIWKH6WRFN 'XULQJWKH¿QDQFLDO\HDUXQGHUUHYLHZ+&/$PHULFD,QFDQG+&/ ([FKDQJHV6(%,DQGRWKHUVWDWXWRU\DXWKRULWLHVRQDOOPDWWHUV %HUPXGD/LPLWHGZHUHWKHPDWHULDOVXEVLGLDULHVRIWKH&RPSDQ\ UHODWLQJ WR FDSLWDO PDUNHWV GXULQJ WKH ODVW WKUHH \HDUV 1R DV SHU WKH FULWHULD JLYHQ XQGHU 5HJXODWLRQ RI WKH /LVWLQJ penalties or strictures have been imposed on the Company by 5HJXODWLRQV WKH6WRFN([FKDQJHV6(%,RUDQ\RWKHUVWDWXWRU\DXWKRULWLHV UHODWLQJWRWKHDERYHGXULQJWKHODVWWKUHH\HDUV 7KH $XGLW &RPPLWWHH RI WKH &RPSDQ\ UHYLHZV WKH ¿QDQFLDO statements and investments made by the unlisted subsidiary F 2WKHU'LVFORVXUHV FRPSDQLHV 7KH PLQXWHV RI WKH ERDUG PHHWLQJV DV ZHOO DV WKH VWDWHPHQW RI VLJQL¿FDQW WUDQVDFWLRQV DQG DUUDQJHPHQWV HQWHUHG 7KH&RPSDQ\KDVLQSODFHWKH:KLVWOHEORZHU3ROLF\DQG into by the unlisted subsidiary companies, if any, are placed before it provides for direct access to the Chairman of the Audit WKH%RDUGRI'LUHFWRUVRIWKH&RPSDQ\IURPWLPHWRWLPH &RPPLWWHHLQDSSURSULDWHRUH[FHSWLRQDOFDVHV)XUWKHUQR HPSOR\HHKDVEHHQGHQLHGDFFHVVWRWKH$XGLW&RPPLWWHH &(2&)2&(57,),&$7,21 During the year, the Company did not raise any money 7KH &HUWL¿FDWH DV VWLSXODWHG LQ 5HJXODWLRQ RI WKH /LVWLQJ through public issue, right issues, preferential issue or 5HJXODWLRQV UHDG ZLWK 3DUW % RI 6FKHGXOH ,, ZDV SODFHG EHIRUH TXDOL¿HGLQVWLWXWLRQDOSODFHPHQWDQGWKHUHZDVQRXQVSHQW WKH%RDUGDORQJZLWKWKH¿QDQFLDOVWDWHPHQWVIRUWKH¿QDQFLDO\HDU PRQH\UDLVHGWKURXJKVXFKLVVXHV HQGHG0DUFKDQGWKH%RDUGUHYLHZHGWKHVDPH7KHVDLG &HUWL¿FDWHLVSURYLGHGLQWKLV$QQXDO5HSRUW +&/7HFKQRORJLHV/LPLWHGLVUDWHG>,&5$@$$$ 6WDEOH E\ ,&5$/LPLWHGLQUHVSHFWRILWVEDQNOLPLWV7KHUHKDVEHHQ DISCLOSURES QRFKDQJHLQWKHUDWLQJGXULQJWKH\HDUXQGHUUHYLHZ

D 5HODWHG3DUW\7UDQVDFWLRQV 0DLQWHQDQFHRIFRVWUHFRUGVKDVQRWEHHQVSHFL¿HGE\ WKH&HQWUDO*RYHUQPHQWXQGHU6HFWLRQ RIWKH$FW During the year under review, the Company has not entered and accordingly such accounts and records are not made into any transaction of a material nature with its subsidiaries, DQGPDLQWDLQHGE\WKH&RPSDQ\ 147 Corporate Governance Report In terms of the provisions of the Listing Regulations, the *5((1,1,7,$7,9(6'5,9(%<7+(0,1,675<2)&25325$7( Company has in place an “Archival Policy” and a “Policy for $))$,56*29(510(172),1',$ 'HWHUPLQDWLRQRI0DWHULDOLW\RI(YHQWVRU,QIRUPDWLRQ´%RWK the policies are available on the website of the Company The Company, as a corporate entity, is committed to protect and at KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV FRQVHUYHWKHQDWXUDOHQYLURQPHQWLQLWVRSHUDWLRQVDQGVHUYLFHV As a responsible corporate citizen, the Company welcomes and 0($162)&20081,&$7,21 VXSSRUWVWKHµ*UHHQ,QLWLDWLYH¶WDNHQE\WKH0LQLVWU\RI&RUSRUDWH $IIDLUV *RYHUQPHQW RI ,QGLD HQDEOLQJ HOHFWURQLF GHOLYHU\ RI D )LQDQFLDO5HVXOWV1HZVSDSHUVLQZKLFKUHVXOWVQRUPDOO\ GRFXPHQWVWRWKHVKDUHKROGHUVDWWKHLUHPDLODGGUHVVHVUHJLVWHUHG SXEOLVKHG 7KH TXDUWHUO\ KDOI\HDUO\ DQG DQQXDO ¿QDQFLDO ZLWKWKH'HSRVLWRU\3DUWLFLSDQWV5HJLVWUDU 6KDUH7UDQVIHU$JHQW results of the Company are generally published in leading newspapers in India LQWHUDOLD LQ 0LQW DQG +LQGXVWDQ 7KH$QQXDO5HSRUWDQGWKH1RWLFHRIWKH7ZHQW\(LJKWK 7KH UHVXOWV DUH DOVR GLVSOD\HG RQ WKH &RPSDQ\¶V website $*0ZLOOEHVHQWWRDOOWKHPHPEHUVLQWKHPDQQHUSUHVFULEHGRU ZZZKFOWHFKFRP DVPD\EHSUHVFULEHGLQWKHDSSOLFDEOHODZ

E :HEVLWH 7KH &RPSDQ\¶V FRUSRUDWH ZHEVLWH LH 7KHVKDUHKROGHUVRIWKH&RPSDQ\DUHUHTXHVWHGWRUHJLVWHUWKHLU ZZZKFOWHFKFRP provides comprehensive information on HPDLODGGUHVVHVZLWKWKHLUGHSRVLWRU\SDUWLFLSDQWVWRHQVXUHWKDWWKH WKH &RPSDQ\¶V SRUWIROLR RI EXVLQHVVHV 7KH ZHEVLWH KDV annual report and other documents reach them on their preferred DQ HQWLUH VHFWLRQ GHGLFDWHG WR &RPSDQ\¶V SUR¿OH LWV FRUH HPDLODGGUHVV6KDUHKROGHUVZKRKROGVKDUHVLQSK\VLFDOIRUPDUH values, corporate governance, business lines and industry UHTXHVWHGWRUHJLVWHUWKHLUHPDLODGGUHVVHVZLWKWKH5HJLVWUDU VHFWLRQV$QH[FOXVLYHVHFWLRQRQµ,QYHVWRUV¶HQDEOHVWKHPWR 6KDUH7UDQVIHU$JHQWE\VHQGLQJDOHWWHUGXO\VLJQHGE\WKH¿UVW DFFHVV LQIRUPDWLRQ DW WKHLU FRQYHQLHQFH 7KH HQWLUH $QQXDO VROHKROGHUTXRWLQJGHWDLOVRI)ROLR1R 5HSRUW DV ZHOO DV TXDUWHUO\ KDOI \HDUO\ DQQXDO ¿QDQFLDO statements, releases and shareholding pattern are available ,19(67255(/$7,216(1+$1&,1*,19(6725',$/2*8( in downloadable format as a measure of added convenience WRWKHLQYHVWRUV As a listed entity and a responsible corporate citizen, the Company recognizes the imperative need to maintain continuous dialogue F 1HZV5HOHDVHV3UHVHQWDWLRQVHWF2I¿FLDOQHZV releases, ZLWK WKH LQYHVWRU FRPPXQLW\7KH REMHFWLYH RI ,QYHVWRU 5HODWLRQV detailed presentations made to media, analysts, institutional LV WR NHHS LQYHVWRUV DEUHDVW RI VLJQL¿FDQW GHYHORSPHQWV WKDW LQYHVWRUV HWF DUH GLVSOD\HG RQ WKH &RPSDQ\¶V website GHWHUPLQH&RPSDQ\¶VRYHUDOOSHUIRUPDQFHZKLOHDWWKHVDPHWLPH ZZZKFOWHFKFRP2I¿FLDOPHGLDUHOHDVHVDUHDOVR sent to the DGGUHVVLQJ LQYHVWRU FRQFHUQV7KLV WUDQVODWHV LQWR GLVVHPLQDWLQJ 6WRFN([FKDQJHV timely, accurate and relevant information that helps investors in PDNLQJLQIRUPHGLQYHVWPHQWGHFLVLRQV G $QQXDO5HSRUW The Annual Report containing, LQWHUDOLD, the Audited Annual Accounts, Consolidated Financial Statements, To ensure effective communication, the Investor Relations Division 'LUHFWRUV¶5HSRUW$XGLWRU¶V5HSRUW0DQDJHPHQW'LVFXVVLRQ provides comprehensive information in the form of Annual Reports, DQG$QDO\VLV6WDWHPHQW&RUSRUDWH *RYHUQDQFH 5HSRUWDQG 4XDUWHUO\ (DUQLQJV 5HSRUWV ,QYHVWRU 5HOHDVHV RQ WKH &RPSDQ\¶V other important information is circulated to members and :HEVLWHXQGHUµ,QYHVWRUV¶VHFWLRQDWKWWSVZZZKFOWHFKFRPLQYHVWRUV RWKHUV HQWLWOHG WKHUHWR 7KH$QQXDO 5HSRUW RI WKH &RPSDQ\ LVDYDLODEOHRQWKH&RPSDQ\¶VZHEVLWHLQDXVHUIULHQGO\DQG $GGLWLRQDOO\ &RQIHUHQFH &DOOV 0DQDJHPHQW ,QWHUYLHZV )DFH WR GRZQORDGDEOHIRUP )DFH,QYHVWRU0HHWLQJVDQG$*0 V HQVXUHDGLUHFWLQWHUDFWLRQRI PDUNHWSDUWLFLSDQWVZLWKWKH0DQDJHPHQW7HDP H ,QWLPDWLRQWRWKH6WRFN([FKDQJHV The Company intimates to the Stock Exchanges all price sensitive information or such The management is committed to build investor relations on other matters which in its opinion are material and of relevance WKH SLOODUV RI WUXVW FRQVLVWHQF\ DQG WUDQVSDUHQF\ ,WV SURDFWLYH WRWKH6KDUHKROGHUV approach has enabled the investor community to better understand WKH QDWXUH RI WKH &RPSDQ\¶V EXVLQHVV PDQDJHPHQW VWUDWHJLHs I 16( (OHFWURQLF $SSOLFDWLRQ 3URFHVVLQJ 6\VWHP As per DQGRSHUDWLRQDOSHUIRUPDQFHRYHUDSHULRGRIWLPH the mandate received from National Stock Exchange of India /LPLWHG µ16(¶ WKH&RPSDQ\KDVEHHQXSORDGLQJ LWV¿QDQFLDO information, shareholding pattern, Report on Corporate &(57,),&$7()52035$&7,&,1*&203$1<6(&5(7$5< *RYHUQDQFHDQGSUHVVUHOHDVHVRQWKHGHGLFDWHG website of ON NON-DISQUALIFICATION OF DIRECTORS 16(LHKWWSVZZZFRQQHFWQVHFRP/,67,1* $V UHTXLUHG XQGHU 5HJXODWLRQ DQG 6FKHGXOH 9 WKH /LVWLQJ 5HJXODWLRQV FHUWL¿FDWH GDWHG$SULO REWDLQHG IURP 0V J 2QOLQH 3RUWDO%6( &RUSRUDWH &RPSOLDQFH /LVWLQJ Chandrasekaran Associates, Practicing Company Secretaries &HQWUH$VSHUWKHPDQGDWHUHFHLYHGIURP%6(/LPLWHG µ%6(¶ FRQ¿UPLQJWKDWQRQHRIWKH'LUHFWRUVRQWKH%RDUGRIWKH&RPSDQ\ WKH &RPSDQ\ KDV EHHQ XSORDGLQJ LWV ¿QDQFLDO information, KDYH EHHQ GHEDUUHG RU GLVTXDOL¿HG IURP EHLQJ DSSRLQWHG RU VKDUHKROGLQJ SDWWHUQ 5HSRUW RQ &RUSRUDWH *RYHUQDQFH FRQWLQXLQJDVGLUHFWRUVRIFRPSDQLHVE\6(%,0LQLVWU\RI&RUSRUDWH DQG SUHVV UHOHDVHV RQ WKH GHGLFDWHG ZHEVLWH RI %6( LH $IIDLUVRUDQ\VXFKVWDWXWRU\DXWKRULW\LVDQQH[HGKHUHWR KWWSOLVWLQJEVHLQGLDFRP $118$/6(&5(7$5,$/&203/,$1&(5(3257 K 'HVLJQDWHG ([FOXVLYH HPDLO ,' The Company has the IROORZLQJGHVLJQDWHGHPDLO,'LQYHVWRUV#KFOFRP exclusively $V UHTXLUHG XQGHU 5HJXODWLRQ $ RI WKH /LVWLQJ 5HJXODWLRQV IRULQYHVWRUVVHUYLFLQJ WKH $QQXDO 6HFUHWDULDO &RPSOLDQFH 5HSRUW GDWHG $SULO LVVXHGE\0V&KDQGUDVHNDUDQ$VVRFLDWHV3UDFWLFLQJ&RPSDQ\ 6HFUHWDULHVLVDQQH[HGKHUHWR

Annual Report 2019-20 148 *(1(5$/6+$5(+2/'(5,1)250$7,21

a. $QQXDO*HQHUDO0HHWLQJ Date 7LPH : $VPHQWLRQHGLQWKH$*01RWLFH 9HQXH E )LQDQFLDO

Q6WRFN0DUNHW'DWD

7KHGHWDLOVRIWKHPRQWKO\KLJKDQGORZSULFHVRIWKH(TXLW\6KDUHVRIWKH&RPSDQ\DQGLWVFRPSDULVRQWREURDGEDVHGLQGLFHV%6( 6HQVH[DQG16(1LIW\IRUSHULRG$SULOWR0DUFKDUHDVIROORZV

6KDUHSULFHRQ%6( BSE-Sensex 0RQWK High Low High Low ൘ ൘ ൘ ൘ $SULO 0D\ -XQH -XO\ $XJXVW 6HSWHPEHU 2FWREHU 1RYHPEHU 'HFHPEHU -DQXDU\ )HEUXDU\ 0DUFK

6RXUFH7KLVLQIRUPDWLRQLVFRPSLOHGIURPWKHGDWDDYDLODEOHIURPWKHZHEVLWHRI%6(

1RWH7KH&RPSDQ\LVVXHGERQXVHTXLW\VKDUHVRQ'HFHPEHULQWKHSURSRUWLRQRIHTXLW\VKDUHIRUHYHU\HTXLW\VKDUHRI৷HDFKKHOG E\WKHHTXLW\VKDUHKROGHUVRIWKH&RPSDQ\7KHVKDUHSULFHRIWKH&RPSDQ\IURP'HFHPEHULV([%RQXVSULFH$FFRUGLQJO\WKHKLJKDQGORZ SULFHVIRUWKHPRQWKRI'HFHPEHU¶KDYHEHHQVWDWHGDIWHUFRQVLGHULQJWKHLPSDFWRIERQXVLVVXH

149 Corporate Governance Report 0RQWK 6KDUH3ULFHRQ16( NSE-Nifty High Low High Low ൘ ൘ ൘ ൘ $SULO 0D\ -XQH -XO\ $XJXVW 6HSWHPEHU 2FWREHU 1RYHPEHU 'HFHPEHU -DQXDU\ )HEUXDU\ 0DUFK 6RXUFH7KLVLQIRUPDWLRQLVFRPSLOHGIURPWKHGDWDDYDLODEOHIURPWKHZHEVLWHRI16( 1RWH7KH&RPSDQ\LVVXHGERQXVHTXLW\VKDUHVRQ'HFHPEHULQWKHSURSRUWLRQRIHTXLW\VKDUHIRUHYHU\HTXLW\VKDUHRI৷HDFKKHOG E\WKHHTXLW\VKDUHKROGHUVRIWKH&RPSDQ\7KHVKDUHSULFHRIWKH&RPSDQ\IURP'HFHPEHULV([%RQXVSULFH$FFRUGLQJO\WKHKLJKDQGORZ SULFHVIRUWKHPRQWKRI'HFHPEHU¶KDYHEHHQVWDWHGDIWHUFRQVLGHULQJWKHLPSDFWRIERQXVLVVXH R 5HJLVWUDU 6KDUHV7UDQVIHU$JHQW ZLOOEHDFFHSWHGE\WKH&RPSDQLHV57$7KLVDPHQGPHQW will help in curbing frauds and manipulation of risk in physical 7KH &RPSDQ\ KDV DSSRLQWHG 0V /LQN ,QWLPH ,QGLD 3ULYDWH WUDQVIHU RI VHFXULWLHV E\ XQVFUXSXORXV SHUVRQV )XUWKHU Limited as its Registrar and Share Transfer Agent (“RTA”), holding of securities in dematerialized form will also improve LQ SODFH RI 0V $ODQNLW $VVLJQPHQWV /LPLWHG ZLWK HIIHFW IURP HDVHFRQYHQLHQFHDQGVDIHW\RIWUDQVDFWLRQVIRUWKHLQYHVWRUV 2FWREHU7KHGHWDLOVRIWKH57$DUHDVEHORZ Transfer of shares in dematerialized form is done through the GHSRVLWRULHVZLWKQRLQYROYHPHQWRIWKH&RPSDQ\ 0V/LQN,QWLPH,QGLD3ULYDWH/LPLWHG &3DUN/%60DUJ $V SHU WKH UHTXLUHPHQW RI 5HJXODWLRQ RI WKH /LVWLQJ 9LNKUROL :HVW 0XPEDL 5HJXODWLRQVWKH&RPSDQ\KDVREWDLQHGKDOI\HDUO\FHUWL¿FDWHV 0DKDUDVKWUD from Practising Company Secretary for due compliance of 6(%,5HJLVWUDWLRQ1R15 VKDUHWUDQVSRVLWLRQDQGWUDQVPLVVLRQDQG¿OHGWKHVDPHZLWK &RUSRUDWH,GHQWLW\1XPEHU820+37& WKH6WRFN([FKDQJHV 7HOHSKRQH )D[ $V RQ 0DUFK QR HTXLW\ VKDUH ZDV SHQGLQJ IRU (PDLOUQWKHOSGHVN#OLQNLQWLPHFRLQ WUDQVPLVVLRQRUWUDQVSRVLWLRQ

S6KDUH7UDQVIHU6\VWHP T5HFRQFLOLDWLRQRI6KDUH&DSLWDO$XGLW5HSRUW RI WKH HTXLW\ VKDUHV RI WKH &RPSDQ\ DUH LQ $V UHTXLUHG XQGHU 5HJXODWLRQ RI WKH 6HFXULWLHV DQG GHPDWHULDOL]HG IRUP 6(%, KDV DPHQGHG WKH UHOHYDQW provisions of the Listing Regulations to disallow the listed ([FKDQJH %RDUG RI ,QGLD 'HSRVLWRULHV DQG 3DUWLFLSDQWV FRPSDQLHVIURPDFFHSWLQJUHTXHVWVIRUWUDQVIHURIVHFXULWLHV 5HJXODWLRQV WKH UHFRQFLOLDWLRQ RI VKDUH FDSLWDO DXGLW ZKLFKDUHKHOGLQSK\VLFDOIRUPZLWKHIIHFWIURP$SULO report on the total admitted capital with National Securities The shareholders who continue to hold shares and/or other Depository Limited (“NSDL”) and Central Depository Services types of securities of the listed companies in physical form (India) Limited (“CDSL”) and the total issued and listed capital HYHQ DIWHU WKLV GDWH ZLOO QRW EH DEOH WR ORGJH UHTXHVWV IRU IRUHDFKRIWKHTXDUWHULQWKH¿QDQFLDO\HDUHQGHG0DUFK WUDQVIHU RI VHFXULWLHV ZLWK WKH &RPSDQ\ 57$ 7KH\ ZRXOG ZDVFDUULHGRXW7KHDXGLWUHSRUWVFRQ¿UPWKDWWKHWRWDO EH UHTXLUHG WR ¿UVW FRQYHUW WKH VHFXULWLHV LQ GHPDWHULDOL]HG LVVXHG SDLGXS VKDUH FDSLWDO LV LQ DJUHHPHQW ZLWK WKH WRWDO IRUPLIWKH\ZLVKWRHIIHFWDQ\WUDQVIHU2QO\WKHUHTXHVWVIRU number of shares in physical form and the total number of transmission and transposition of securities in physical form GHPDWHULDOL]HGVKDUHVKHOGZLWK16'/DQG&'6/

U6KDUHKROGLQJDVRQ0DUFK

L 'LVWULEXWLRQRIVKDUHKROGLQJDVRQ0DUFK

1XPEHURI(TXLW\ 1RRI6KDUHKROGHUV 6KDUHKROGHUV No. of Shares Shares 6KDUHVKHOG ± ± ± ± 997 ± ± ± ± Total

Annual Report 2019-20 150 LL &DWHJRULHVRIHTXLW\VKDUHKROGHUVDVRQ0DUFK

Category 1XPEHURIVKDUHVKHOG 9RWLQJ6WUHQJWK Promoters 0XWXDO)XQGV87, )LQDQFLDO,QVWLWXWLRQV%DQNV Insurance Companies Foreign Portfolio Investors / Foreign Institutional Investors Alternate Investment Funds )RUHLJQ%DQNV %RGLHV&RUSRUDWH Individuals 15,V2&%V 1%)&¶VUHJLVWHUHGZLWK5%, Foreign Nationals Trusts Trust Employees &HQWUDO*RYHUQPHQW6WDWH*RYHUQPHQW V 3UHVLGHQWRI ,QGLD Investor Education and Protection Fund +8) &OHDULQJ0HPEHUV *UDQG7RWDO

V 'HPDWHULDOL]DWLRQRI6KDUHVDQG/LTXLGLW\ 7KHVKDUHVRIWKH&RPSDQ\DUHXQGHUFRPSXOVRU\GHPDWHULDOL]DWLRQ ³'HPDW´ FDWHJRU\DQGFRQVHTXHQWO\VKDUHVRIWKH&RPSDQ\ FDQEHWUDGHGRQO\LQHOHFWURQLFIRUP The system for getting the shares dematerialized is as under:

D 6KDUHFHUWL¿FDWH V DORQJZLWK'HPDW5HTXLVLWLRQ)RUP '5) LVWREHVXEPLWWHGE\WKHVKDUHKROGHUWRWKH'HSRVLWRU\3DUWLFLSDQW '3 ZLWKZKRPKHVKHKDVRSHQHGD'HSRVLWRU\$FFRXQW E '3SURFHVVHVWKH'5)DQGJHQHUDWHVDXQLTXHQXPEHUYL]'51 F '3IRUZDUGVWKH'5)DQGVKDUHFHUWL¿FDWHVWRWKH&RPSDQ\¶V5HJLVWUDU 6KDUHV7UDQVIHU$JHQW d) 7KH&RPSDQ\¶V5HJLVWUDU 6KDUHV7UDQVIHU$JHQWDIWHUSURFHVVLQJWKH'5)FRQ¿UPVRUUHMHFWVWKHUHTXHVWWRWKH'HSRVLWRULHV H 8SRQFRQ¿UPDWLRQWKH'HSRVLWRU\JLYHVWKHFUHGLWWRVKDUHKROGHULQKLVKHUGHSRVLWRU\DFFRXQWPDLQWDLQHGZLWK'3 $VRQ0DUFKDERXWRIWKHHTXLW\VKDUHVLVVXHGE\WKH&RPSDQ\DUHKHOGLQGHPDWHULDOL]HGIRUP 7KH&RPSDQ\¶VHTXLW\VKDUHVDUHUHJXODUO\WUDGHGRQ16(DQG%6(LQGHPDWHULDOL]HGIRUP 7KH&RPSDQ\¶V,6,1LQ16'/ &'6/IRU(TXLW\6KDUHVLV,1($ Since the trading in the shares of the Company can be done only in electronic form, it is advisable that the shareholders who have WKHVKDUHVLQSK\VLFDOIRUPJHWWKHLUVKDUHVGHPDWHULDOL]HG W2XWVWDQGLQJ*'5V$'5V:DUUDQWVRUDQ\&RQYHUWLEOH,QVWUXPHQWVFRQYHUVLRQGDWHDQGOLNHO\LPSDFWRQHTXLW\ 7KH&RPSDQ\KDVQRWLVVXHGDQ\*'5V$'5VZDUUDQWVRURWKHULQVWUXPHQWVZKLFKDUHSHQGLQJIRUFRQYHUVLRQ X &RPPRGLW\SULFHULVNRUIRUHLJQH[FKDQJHULVNDQGKHGJLQJDFWLYLWLHV 3OHDVHUHIHUWR0DQDJHPHQW'LVFXVVLRQDQG$QDO\VLV5HSRUWIRUWKHVDPH

151 Corporate Governance Report Y 7UDQVIHURI8QSDLG8QFODLPHG'LYLGHQGWR,QYHVWRU(GXFDWLRQDQG3URWHFWLRQ)XQG ,(3)

3XUVXDQWWRWKHSURYLVLRQVRI6HFWLRQRIWKH$FWWKHGLYLGHQGDPRXQWZKLFKKDYHUHPDLQXQSDLGRUXQFODLPHGIRUDSHULRG of seven consecutive years from the date of declaration have been transferred by the Company to the Investor Education and 3URWHFWLRQ)XQG ³,(3)´ HVWDEOLVKHGE\WKH&HQWUDO*RYHUQPHQWSXUVXDQWWR6HFWLRQRIWKH$FW6KDUHKROGHUVZKRKDYHQRW HQFKDVHGWKHLUGLYLGHQGZDUUDQWVUHODWLQJWRWKHGLYLGHQGVSHFL¿HGLQWDEOHEHORZDUHUHTXHVWHGWRLPPHGLDWHO\VHQGWKHLUUHTXHVWIRU LVVXHRIGXSOLFDWHZDUUDQWV2QFHWKHXQFODLPHGGLYLGHQGLVWUDQVIHUUHGWRWKH,(3)WKHVDPHFDQEHFODLPHGIURPWKH,(3)$XWKRULW\ DIWHUIROORZLQJWKHSURFHGXUHVSUHVFULEHGLQWKH,(3)5XOHV

'LYLGHQG 'LYLGHQG 5HFRUG'DWH%RRN 'LYLGHQG3D\PHQW Due Date of transfer Year 'DWHRI'HFODUDWLRQ $PRXQW Type Closure Dates Dates to IEPF SHUVKDUH `

Interim $SULO $SULO $SULO 0D\ Final 'HFHPEHU 'HFHPEHU 'HFHPEHU -DQXDU\ Interim 2FWREHU 2FWREHU 2FWREHU 1RYHPEHU Interim -DQXDU\ -DQXDU\ -DQXDU\ )HEUXDU\ Interim $SULO $SULO $SULO 0D\ Interim -XO\ $XJXVW $XJXVW $XJXVW Interim 2FWREHU 2FWREHU 1RYHPEHU 1RYHPEHU Interim -DQXDU\ )HEUXDU\ )HEUXDU\ 0DUFK Interim $SULO $SULO 0D\ 0D\ Interim $XJXVW $XJXVW $XJXVW 6HSWHPEHU Interim 2FWREHU 2FWREHU 1RYHPEHU 1RYHPEHU Interim -DQXDU\ -DQXDU\ )HEUXDU\ )HEUXDU\ Interim $SULO 0D\ 0D\ 0D\ Interim $XJXVW $XJXVW $XJXVW 6HSWHPEHU Interim 2FWREHU 1RYHPEHU 1RYHPEHU 1RYHPEHU Interim -DQXDU\ )HEUXDU\ )HEUXDU\ )HEUXDU\ Interim 0D\ 0D\ -XQH 0D\ Interim -XO\ $XJXVW $XJXVW $XJXVW Interim 2FWREHU 2FWREHU 1RYHPEHU 1RYHPEHU Interim -DQXDU\ -DQXDU\ )HEUXDU\ )HEUXDU\ Interim 0D\ 0D\ 0D\ -XQH Interim -XO\ $XJXVWWR$XJXVW $XJXVW $XJXVW Interim 2FWREHU 2FWREHU 1RYHPEHU 1RYHPEHU Interim -DQXDU\ )HEUXDU\ )HEUXDU\ )HEUXDU\ Interim 0D\ 0D\ 0D\ -XQH Interim $XJXVW $XJXVW $XJXVW 6HSWHPEHU Interim 2FWREHU 1RYHPEHU 1RYHPEHU 1RYHPEHU Interim -DQXDU\ -DQXDU\ )HEUXDU\ )HEUXDU\ %RRN&ORVXUHGDWHV 1RWH,QDGGLWLRQWRWKHDERYHWKH&RPSDQ\DOVRWUDQVIHUUHGWKHERQXVHTXLW\VKDUHVWRWKH,(3)LQUHVSHFWRIWKHVKDUHVWKDWZHUHDOUHDG\WUDQVIHUUHG WRWKH,(3)WLOOWKHGDWHRIWKHLVVXHRIERQXVVKDUHV

3XUVXDQWWRWKHSURYLVLRQVRI,QYHVWRU(GXFDWLRQDQG3URWHFWLRQ)XQG 8SORDGLQJRILQIRUPDWLRQUHJDUGLQJXQSDLGDQGXQFODLPHG DPRXQWV O\LQJ ZLWK FRPSDQLHV 5XOHV WKH GHWDLOV RI XQSDLG DQG XQFODLPHG DPRXQWV O\LQJ ZLWK WKH &RPSDQ\ KDYH EHHQ uploaded on the website of the Company at KWWSVZZZKFOWHFKFRPLQYHVWRUVLHSIGHWDLOVDQGRQWKHZHEVLWHRIWKH0LQLVWU\RI &RUSRUDWH$IIDLUV

Z)LQDQFLDO&DOHQGDU WHQWDWLYHDQGVXEMHFWWRFKDQJH )LQDQFLDOUHSRUWLQJIRUWKH¿UVWTXDUWHUHQGLQJ-XQH 7KLUGZHHNRI-XO\ )LQDQFLDOUHSRUWLQJIRUWKHVHFRQGTXDUWHUHQGLQJ6HSWHPEHU 7KLUGZHHNRI2FWREHU )LQDQFLDOUHSRUWLQJIRUWKHWKLUGTXDUWHUHQGLQJ'HFHPEHU 7KLUGZHHNRI-DQXDU\ )LQDQFLDOUHSRUWLQJIRUWKHIRXUWKTXDUWHUDQG\HDUHQGLQJ0DUFK /DVWZHHNRI$SULO $*0 IRUWKH\HDUHQGLQJ0DUFK $XJXVW

Annual Report 2019-20 152 [$GGUHVVIRU6KDUHKROGHUV¶FRUUHVSRQGHQFH

The Secretarial Department HCL Technologies Limited th)ORRU7RZHU 3ORW1R$6HFWRU 1RLGD83,QGLD 7HO (PDLO,'LQYHVWRUV#KFOFRP

\&RPSOLDQFH&HUWL¿FDWHRQWKH&RUSRUDWH*RYHUQDQFHIURPWKH$XGLWRUV

7KHFHUWL¿FDWHGDWHG0D\REWDLQHGIURPWKH6WDWXWRU\$XGLWRUVRIWKH&RPSDQ\0V%65 &R//3FRQ¿UPLQJFRPSOLDQFH ZLWKWKHFRUSRUDWHJRYHUQDQFHUHTXLUHPHQWVDVVWLSXODWHGXQGHU6FKHGXOH9UHDGZLWK5HJXODWLRQ RIWKH/LVWLQJ5HJXODWLRQV LVDQQH[HGKHUHWR

]&HQWUHV¶/RFDWLRQV &KHQQDL±673, 50=0LOOHQLD%XVLQHVV3DUN 'SIDCO Industrial Estate, Ambattur 6HFRQG0DLQ5RDG$PEDWWXU &DPSXVrd Floor) ,QGXVWULDO(VWDWH$PEDWWXU $0% ,QGXVWULDO(VWDWH$PEDWWXU $0% 'U0*59HHUDQDP5RDG1R3HUXQJXGL &KHQQDL± &KHQQDL 9LOODJH6KROLQJDQDOOXU7DOXN.DQFKHHSXUDP 7HO 7HO District, &KHQQDL± 7HO 6RXWK3KDVH 6RXWK3KDVH 6RXWK3KDVH07+5RDG$PEDWWXU Ambattur Industrial Estate, Ambattur Industrial Estate, Industrial Estate, $PEDWWXU $0% $PEDWWXU $0% $PEDWWXU $0% &KHQQDL &KHQQDL &KHQQDL 7HO 7HO 7HO Arihant Technopolis, 2OG0DKDEDOLSXUDP5RDG .DQGDQFKDYDGL3HUXQJXQGL &KHQQDL 7HO &KHQQDL6(= ELCOT–SEZ Special Economic (7$7HFKQR3DUN6SHFLDO(FRQRPLF Ozone Technopark, =RQH0HGDYDNNDP+LJK5RDG =RQH5DMLY*DQGKL6DODL 6(=8QLW$EX*DUGHQ 6KR]KLQJDQDOOXU9LOODJH.DQFKHHSXUDP 'LVW 1DYDOOXU9LOODJHDQG3DQFKD\DW th Floor, Platinum Holdings Private &KHQQDL Thiruporur Panchayat /LPLWHG2051DYDOXU.DQFKHHSXUDP 7HO 8QLRQ&KHQJDOSHW7DOXN 'LVW &KHQJDOSDWWX1HZ'LVW .DQFKLSXUDP'LVW &KHQQDL &KHQQDL± 7HO 7HO 0DGXUDL±6(= 0DGXUDL &RLPEDWRUH ELCOT Special Economic Zone, SPA IT Towers, Rathinam Tech Zone Campus, 6(=8QLW±7RZHU 6XUYH\1RDQG)HHW %ORFN)LUVWÀRRU 6XUYH\1R 5RDG1HDU3UHHWKL+RVSLWDO2SS 3ROODFKL0DLQ5RDG 3ORW1R ,ODQGDLNXODP9LOODJH 0DWWXWKDYDQL%XV6WDQG (FKDQDUL&RLPEDWRUH± 0DGXUDL± 0DGXUDL± 7HO 7HO 7HO +\GHUDEDG±6(= +\GHUDEDG±6(= .RFKL6(= $YLQDVK+LWHFK&LW\6RFLHW\ *$5&RUSRUDWLRQ3ULYDWH/LPLWHG6(= $WKXO\D%XLOGLQJ6'%%ORFN 3ORW+%DQG+ UGÀRRURI7RZHU/D[PL,QIREDKQ *URXQG)ORRU 6\1R ORFDWHGDW6\1R.RNDSHW 9 ,QIRSDUN.RFKL32 *DFKLERZOL9LOODJH6HULOOLPJDPSDOO\0DQGDO *DQGLSHW0DQGDO 3KDVH6(= Ranga Reddy District, Ranga Reddy District, .DNNDQDG± +\GHUDEDG± +\GHUDEDG7HODQJDQD 7HO %HQJDOXUX±673, *57HFK3DUN 6XU\D6DSSKLUH3ORW1R 1R*URXQG)ORRU9D\X%ORFNµ%¶:LQJ 6XUYH\+RXVH1R .RQDSSDQDQ 6DODUSXULD:KLWH¿HOG $JUDKDUD9LOODJH(OHFWURQLF&LW\+RVXU %DQJDORUH± 5RDG%DQJDORUH± 7HO 7HO )D[

153 Corporate Governance Report %HQJDOXUX6(= 6SHFLDO(FRQRPLF=RQH-LJDQL,QGXVWULDO 0DQ\DWD(PEDVV\%XVLQHVV3DUN6(= .DUOH7RZQ&HQWUH6XUYH\1RV $UHD%RPPDVDQGUD-LJDQL/LQN5RDG %ORFN& (/0 st)ORRU:LQJ$ :LQJ DQG1DJDYDUD9LOO.DVDED+REOL %DQJDORUH %2XWHU5LQJ5RDG North Taluk 7HO 1DJDYDUD 5DFKHQDKDOOL9LOODJHV.5 %DQJDORUH± )D[ 3XUDP+REOL%DQJDORUH± 7HO &HVVDQD%XVLQHVV3DUN6(= $YLDWRU%XLOGLQJ:LQJ% *URXQG st)ORRU%XLOGLQJ WK)ORRU$VFHQGDV,73/6(= 9LOODJH9DUWKXU+REOL2XWHU5LQJ5RDG(DVW :KLWH¿HOG0DLQ5RDG 7DOXN%DQJDORUH± %HQJDOXUX± 7HO 7HO 1RLGD±673, $ 6HFWRU $6HFWRU $6HF1RLGD± 1RLGD± 1RLGD 7HO 7HO 7HO )D[ )D[ $6HFWRU %6HFWRU1RLGD± $6HFWRU1RLGD± 1RLGD± 7HO 7HO 7HO 7HO /RWXV%XVLQHVV3DUN *ROGHQ7RZHU,QIUDWHFKPrivate Limited, 3ORW1R7RZHU%strd)ORRU6HFWRU th & 5th)ORRU3ORW1R 1RLGD± 6HFWRU1RLGD± 7HO 1RLGD6(= /XFNQRZ6(= 0$1(6$5673, Noida Technology Hub (SEZ) 9LOODJH.DQMHKDUD 0DVWHPDX &36HFWRU,070DQHVDU 3ORW1R$6HFWRU &KXFN*DMDULD)DUPV6XOWDQSXU5RDG *XUXJUDP± 1RLGD± /XFNQRZ± 7HO 7HO 7HO )D[

.RONDWD±6(= Kolkata STPI &$1'25.RONDWD2QH+L7HFK6WUXFWXUH3ULYDWH 6')%XLOGLQJst rd Floors, /LPLWHG6(=,7,7(63ORW1R± 0RGXOH1RV%ORFN*3 %ORFN1R$ $'+6WUHHW1R 6HFWRU96DOW/DNH.RONDWD± rd th)ORRU1HZ7RZQ5DMDUKDW'LVW1RUWK 7HO 3DUJDQDV.RONDWD± 7HO 3XQH±673, 3ORW 5DMLY*DQGKL,QIRWHFK3DUN :RUOG7UDGHFHQWUH6XUYH\1R st )ORRU:LQJ7RZHU$%XVLQHVV 0,'&3KDVH+LQMHZDGL3XQH± 7RZHUth Floor, %D\6XUYH\1R+LVVD1R 7HO .KDUDGL3XQH± Airport Road, Yerwada 7HO 3XQH 7HO 7HO 3ORW1R61R 4XDGUD+DGDSVDU 4XEL[%XVLQHVV3DUN3ULYDWH/LPLWHG 7DOXND+DYHOL3XQH 6(=6XUYH\QR%ORFN,7 WK 7HO ÀRRU5DMLY*DQGKL,QIRWHFK3DUN0,'& 3KDVH+LQMHZDGL3XQH 7HO 3XQH±6(= Embassy Tech Zone, Tower 7, Level, 3ORW1R$stDQGnd Floor 8SSHU*URXQG)ORRU :LQJ$ % 5DMLY*DQGKL,QIRWHFK3DUN +DGDSVDU&\EHUFLW\0DJDUSDWWD6(= 3KDVH+LQMHZDGL3XQH± 3XQH± 7HO 7HO )D[ 7HO 1DJSXU6(= 0XPEDL673, 3ORWQR6HFWRU Reliable Tech Park 8QLW0,+$16(= $ %:LQJth Floor, 1DJSXU± $LUROL0XPEDL± 7HO 7HO

Annual Report 2019-20 154 &203/,$1&(:,7+0$1'$725<$1'1210$1'$725<5(48,5(0(176

7KH/LVWLQJ5HJXODWLRQVSURYLGHVFHUWDLQPDQGDWRU\UHTXLUHPHQWVZKLFKKDYHWREHIXO¿OOHGE\WKH&RPSDQ\7KH&RPSDQ\KDVFRPSOLHG ZLWK DOO WKH PDQGDWRU\ UHTXLUHPHQWV RI WKH 6(%, /LVWLQJ 2EOLJDWLRQV DQG 'LVFORVXUH 5HTXLUHPHQWV 5HJXODWLRQV 6SHFL¿FDOO\ WKH&RPSDQ\FRQ¿UPVFRPSOLDQFHZLWKFRUSRUDWHJRYHUQDQFHUHTXLUHPHQWVVSHFL¿HGLQ5HJXODWLRQWRDQGFODXVHV E WR L RI 5HJXODWLRQ RIWKH/LVWLQJ5HJXODWLRQV

7KH /LVWLQJ 5HJXODWLRQV IXUWKHU VWDWHV FHUWDLQ QRQPDQGDWRU\ UHTXLUHPHQWV ZKLFK PD\ EH LPSOHPHQWHG DV SHU WKH GLVFUHWLRQ RI WKH &RPSDQ\7KH&RPSDQ\FRPSOLHVZLWKWKHIROORZLQJQRQPDQGDWRU\UHTXLUHPHQWV

1. 6KDUHKROGHUV¶5LJKWV

7KH&ODXVHVWDWHVWKDWKDOI\HDUO\GHFODUDWLRQRI¿QDQFLDOSHUIRUPDQFHLQFOXGLQJVXPPDU\RIWKHVLJQL¿FDQWHYHQWVLQWKHODVWVL[ PRQWKVPD\EHVHQWWRHDFKVKDUHKROGHU

7KH&RPSDQ\FRPPXQLFDWHVZLWKLQYHVWRUVUHJXODUO\WKURXJKHPDLOWHOHSKRQHDQGIDFHWRIDFHPHHWLQJVHLWKHULQLQYHVWRU¶VFRQIHUHQFHV &RPSDQ\YLVLWVRURQURDGVKRZV

7KH&RPSDQ\OHYHUDJHVWKHLQWHUQHWLQFRPPXQLFDWLQJZLWKLWVLQYHVWRUV$IWHUWKHDQQRXQFHPHQWRIWKHTXDUWHUO\UHVXOWVDEXVLQHVV WHOHYLVLRQ FKDQQHO LQ ,QGLD WHOHFDVWV GLVFXVVLRQV ZLWK WKH PDQDJHPHQW 7KLV HQDEOHV D ODUJH QXPEHU RI UHWDLO LQYHVWRUV LQ ,QGLD WR XQGHUVWDQGWKH&RPSDQ\¶VRSHUDWLRQVEHWWHU7KHDQQRXQFHPHQWRITXDUWHUO\UHVXOWVLVIROORZHGE\PHGLDEULH¿QJLQSUHVVFRQIHUHQFHV DQGHDUQLQJFRQIHUHQFHFDOOV7KHHDUQLQJFDOOVDUHDOVRZHEFDVWOLYHRQWKHLQWHUQHW)XUWKHUWUDQVFULSWVRIWKHHDUQLQJVFDOOVDUHSRVWHG on the website ZZZKFOWHFKFRP

7KHTXDUWHUO\¿QDQFLDOUHVXOWVDUHDOVRSXEOLVKHGLQ(QJOLVKDQG+LQGLGDLO\QHZVSDSHUV

$XGLW4XDOL¿FDWLRQV

,WLVDOZD\VWKH&RPSDQ\¶VHQGHDYRXUWRSUHVHQWXQTXDOL¿HG¿QDQFLDOVWDWHPHQWV7KHUHLVQRDXGLWTXDOL¿FDWLRQLQWKH&RPSDQ\¶V ¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK

6HSDUDWHSRVWVRI&KDLUPDQDQG&(2

7KH SRVLWLRQV RI WKH &KDLUPDQ DQG WKH &(2 DUH KHOG E\ VHSDUDWH LQGLYLGXDOV 0U 6KLY 1DGDU LV WKH &KDLUPDQ RI WKH &RPSDQ\ DQG 0U&9LMD\DNXPDULVWKH&(2RIWKH&RPSDQ\

4. 5HSRUWLQJRI,QWHUQDO$XGLWRU

7KH,QWHUQDO$XGLWRURIWKH&RPSDQ\GLUHFWO\UHSRUWVWRWKH$XGLW&RPPLWWHHRQWKHIXQFWLRQDOPDWWHUV

155 Corporate Governance Report CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

(Pursuant to Regulation 34(3) and Schedule V Para C clause 10(i) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)

To, 7KH0HPEHUV +&/7HFKQRORJLHV/LPLWHG 6LGGKDUWK1HKUX3ODFH 1HZ'HOKL

:H KDYH H[DPLQHG WKH UHOHYDQW UHJLVWHUV UHFRUGV IRUPV UHWXUQV DQG GLVFORVXUHV UHFHLYHG IURP WKH 'LUHFWRUV RI +&/7HFKQRORJLHV /LPLWHG KDYLQJ &,1 /'/3/& DQG UHJLVWHUHG RI¿FH DW 6LGGKDUWK 1HKUX 3ODFH 1HZ 'HOKL ,1 KHUHLQDIWHUUHIHUUHGWRDVµWKH&RPSDQ\¶ SURGXFHGEHIRUHXVE\WKH&RPSDQ\IRUWKHSXUSRVHRILVVXLQJWKLV&HUWL¿FDWHLQDFFRUGDQFH ZLWK5HJXODWLRQ UHDGZLWK6FKHGXOH93DUD&6XEFODXVH L RIWKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD /LVWLQJ2EOLJDWLRQV DQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQV

,QRXURSLQLRQDQGWRWKHEHVWRIRXULQIRUPDWLRQDQGDFFRUGLQJWRWKHYHUL¿FDWLRQV LQFOXGLQJ'LUHFWRUV,GHQWL¿FDWLRQ1XPEHU ',1 VWDWXV at the portal ZZZPFDJRYLQ DVFRQVLGHUHGQHFHVVDU\DQGH[SODQDWLRQVIXUQLVKHGWRXVE\WKH&RPSDQ\ LWVRI¿FHUV:HKHUHE\FHUWLI\ WKDWQRQHRIWKH'LUHFWRUVRQWKH%RDUGRIWKH&RPSDQ\DVVWDWHGEHORZIRUWKH)LQDQFLDO

'$7(2)$332,170(17,17+( S. NO. 1$0(2)7+(',5(&725 DIN &203$1<

0U6KLY1DGDU

0V5RELQ$QQ$EUDPV

0U'HHSDN.DSRRU

0U6ULQLYDVDQ5DPDQDWKDQ

0U6KLNKDU1HHONDPDO0DOKRWUD

0V5RVKQL1DGDU0DOKRWUD

0V1LVKL9DVXGHYD

0U6RVDOH6KDQNDUD6DVWU\

0U6XEUDPDQLDQ0DGKDYDQ

0U0RKDQ&KHOODSSD

0U7KRPDV6LHEHU

0U6LPRQ-RKQ(QJODQG

(QVXULQJWKHHOLJLELOLW\IRUWKHDSSRLQWPHQWFRQWLQXLW\RIHYHU\'LUHFWRURQWKH%RDUGLVWKHUHVSRQVLELOLW\RIWKHPDQDJHPHQWRIWKH &RPSDQ\2XUUHVSRQVLELOLW\LVWRH[SUHVVDQRSLQLRQRQWKHVHEDVHGRQRXUYHUL¿FDWLRQ7KLVFHUWL¿FDWHLVQHLWKHUDQDVVXUDQFHDVWR WKHIXWXUHYLDELOLW\RIWKH&RPSDQ\QRURIWKHHI¿FLHQF\RUHIIHFWLYHQHVVZLWKZKLFKWKHPDQDJHPHQWKDVFRQGXFWHGWKHDIIDLUVRIWKH &RPSDQ\

For &KDQGUDVHNDUDQ$VVRFLDWHV Company Secretaries

'U6&KDQGUDVHNDUDQ Senior Partner 0HPEHUVKLS1R)&6 'DWH &HUWL¿FDWHRI3UDFWLFH1R 3ODFH1HZ'HOKL 8',1)%

Annual Report 2019-20 156 6(&5(7$5,$/&203/,$1&(5(32572)+&/7(&+12/2*,(6/,0,7(' )257+(<($5(1'('21ST0$5&+

To, 7KH%RDUGRI'LUHFWRUV +&/7HFKQRORJLHV/LPLWHG 6LGGKDUWK1HKUX3ODFH 1HZ'HOKL

:H0V&KDQGUDVHNDUDQ$VVRFLDWHVKDYHH[DPLQHG (a) $OOWKHGRFXPHQWVDQGUHFRUGVPDGHDYDLODEOHWRXVDQGH[SODQDWLRQSURYLGHGE\+&/7HFKQRORJLHV/LPLWHG ³WKHOLVWHGHQWLW\´

(b) 7KH¿OLQJVVXEPLVVLRQVPDGHE\WKHOLVWHGHQWLW\WRWKHVWRFNH[FKDQJHV

IRUWKH\HDUHQGHGRQst0DUFK ³5HYLHZ3HULRG´ LQUHVSHFWRIFRPSOLDQFHZLWKWKHSURYLVLRQVRI

(a) WKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD$FW ³6(%,$FW´ DQGWKH5HJXODWLRQVFLUFXODUVJXLGHOLQHVLVVXHGWKHUHXQGHUDQG

(b) WKH6HFXULWLHV&RQWUDFWV 5HJXODWLRQ $FW ³6&5$´ UXOHVPDGHWKHUHXQGHUDQGWKH5HJXODWLRQVFLUFXODUVJXLGHOLQHVLVVXHG WKHUHXQGHUE\WKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ³6(%,´

7KHVSHFL¿F5HJXODWLRQVZKRVHSURYLVLRQVDQGWKHFLUFXODUVJXLGHOLQHVLVVXHGWKHUHXQGHUKDYHEHHQH[DPLQHGLQFOXGH

(a) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD /LVWLQJ2EOLJDWLRQVDQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQVWRWKHH[WHQWDSSOLFDEOH

(b) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHRI&DSLWDODQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQVWRWKHH[WHQWDSSOLFDEOH

(d) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD %X\EDFNRI6HFXULWLHV 5HJXODWLRQV1RW$SSOLFDEOHGXULQJWKH\HDUXQGHUUHYLHZ

(e) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 6KDUH%DVHG(PSOR\HH%HQH¿WV 5HJXODWLRQV

(f) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHDQG/LVWLQJRI'HEW6HFXULWLHV 5HJXODWLRQV1RW$SSOLFDEOHGXULQJWKH\HDU XQGHUUHYLHZ

(g) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,VVXHDQG/LVWLQJRI1RQ&RQYHUWLEOHDQG5HGHHPDEOH3UHIHUHQFH6KDUHV 5HJXODWLRQV 1RW$SSOLFDEOHGXULQJWKH\HDUXQGHUUHYLHZ

(h) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 3URKLELWLRQRI,QVLGHU7UDGLQJ 5HJXODWLRQV

(i) 7KH'HSRVLWRULHV$FWDQGWKH5HJXODWLRQVDQG%\HODZVIUDPHGWKHUHXQGHUWRWKHH[WHQWRI5HJXODWLRQRI6HFXULWLHVDQG ([FKDQJH%RDUGRI,QGLD 'HSRVLWRULHVDQG3DUWLFLSDQWV 5HJXODWLRQV

M 7KH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD 5HJLVWUDUVWRDQ,VVXHDQG6KDUH7UDQVIHU$JHQWV 5HJXODWLRQVUHJDUGLQJWKH &RPSDQLHV$FWDQGGHDOLQJZLWKFOLHQWWRWKHH[WHQWRIVHFXULWLHVLVVXHG

(k) 6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD ,QYHVWRU3URWHFWLRQDQG(GXFDWLRQ)XQG 5HJXODWLRQV

DQGEDVHGRQWKHDERYHH[DPLQDWLRQ:HKHUHE\UHSRUWWKDWGXULQJWKH5HYLHZ3HULRG

(a) The listed entity has complied with the provisions of the above Regulations and circulars/ guidelines issued thereunder, except in UHVSHFWRIPDWWHUVVSHFL¿HGEHORZ

Sr. &RPSOLDQFH5HTXLUHPHQW 5HJXODWLRQVFLUFXODUV 'HYLDWLRQV 2EVHUYDWLRQV5HPDUNVRIWKH3UDFWLFLQJ No. JXLGHOLQHVLQFOXGLQJVSHFL¿FFODXVH &RPSDQ\6HFUHWDU\

NIL NIL NIL

(b) The listed entity has maintained proper records under the provisions of the above Regulations and circulars/ guidelines issued WKHUHXQGHULQVRIDUDVLWDSSHDUVIURPP\RXUH[DPLQDWLRQRIWKRVHUHFRUGV

(c) 7KH FRPSDQ\ KDV VXLWDEO\ LQFOXGHG WKH FRQGLWLRQV DV PHQWLRQHG LQ 3DUD $ DQG % RI WKH 6(%, &LUFXODU &,5&)'&0'GDWHG2FWREHULQWKHWHUPVRIDSSRLQWPHQWRIVWDWXWRU\DXGLWRURIWKH&RPSDQ\

157 Corporate Governance Report G 7KHIROORZLQJDUHWKHGHWDLOVRIDFWLRQVWDNHQDJDLQVWWKHOLVWHGHQWLW\LWVSURPRWHUVGLUHFWRUVPDWHULDOVXEVLGLDULHVHLWKHUE\6(%, RUE\6WRFN([FKDQJHV LQFOXGLQJXQGHUWKH6WDQGDUG2SHUDWLQJ3URFHGXUHVLVVXHGE\6(%,WKURXJKYDULRXVFLUFXODUV XQGHUWKH aforesaid Acts/ Regulations and circulars/ guidelines issued thereunder:

Sr. 'HWDLOVRIDFWLRQWDNHQ(J¿QHV 2EVHUYDWLRQVUHPDUNVRIWKH3UDFWLFLQJ $FWLRQWDNHQE\ 'HWDLOVRIYLRODWLRQ No. ZDUQLQJOHWWHUGHEDUPHQWHWF &RPSDQ\6HFUHWDU\LIDQ\

NIL NIL NIL NIL

(e) The listed entity has taken the following actions to comply with the observations made in previous reports:

2EVHUYDWLRQVRIWKH &RPPHQWVRIWKH 2EVHUYDWLRQVPDGHLQWKHVHFUHWDULDO Sr. 3UDFWLFLQJ&RPSDQ\ $FWLRQVWDNHQE\WKH 3UDFWLFLQJ&RPSDQ\ FRPSOLDQFHUHSRUWIRUWKH\HDUHQGHG« No. 6HFUHWDU\LQ OLVWHGHQWLW\LIDQ\ 6HFUHWDU\RQWKHDFWLRQV (The years are to be mentioned) WKHSUHYLRXVUHSRUWV WDNHQE\WKHOLVWHGHQWLW\

Not Applicable during the year under review

For&KDQGUDVHNDUDQ$VVRFLDWHV Company Secretaries

'U6&KDQGUDVHNDUDQ Senior Partner 0HPEHUVKLS1R)&6 &HUWL¿FDWHRI3UDFWLFH1R 'DWH 8',1)% 3ODFH1HZ'HOKL 1RWHV

L 'XHWRUHVWULFWHGPRYHPHQWDPLG&29,'SDQGHPLFZHFRQGXFWHGWKHVHFUHWDULDODXGLWE\H[DPLQLQJWKH6HFUHWDULDO5HFRUGV LQFOXGLQJ0LQXWHV'RFXPHQWV5HJLVWHUVDQGRWKHUUHFRUGVHWFDQGVRPHRIWKHPUHFHLYHGE\ZD\RIHOHFWURQLFPRGHIURP WKH&RPSDQ\DQGFRXOGQRWEHYHUL¿HGIURPWKHRULJLQDOUHFRUGV7KHPDQDJHPHQWKDVFRQ¿UPHGWKDWWKHUHFRUGVVXEPLWWHGWR XVDUHWKHWUXHDQGFRUUHFW

LL 7KLV 5HSRUW LV OLPLWHG WR WKH 6WDWXWRU\ &RPSOLDQFHV RQ ODZV UHJXODWLRQV JXLGHOLQHV OLVWHG LQ RXU UHSRUW ZKLFK KDYH EHHQ FRPSOLHGE\WKH&RPSDQ\XSWRWKHGDWHRIWKLV5HSRUWSHUWDLQLQJWR)LQDQFLDO

Annual Report 2019-20 158 ,QGHSHQGHQW$XGLWRU¶V&HUWL¿FDWHRQ&RPSOLDQFHZLWKWKH&RUSRUDWH*RYHUQDQFHUHTXLUHPHQWVXQGHU6(%, /LVWLQJ2EOLJDWLRQVDQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQVDVDPHQGHGIURPWLPHWRWLPH

7RWKH0HPEHUVRI HCL Technologies Limited

7KLVFHUWL¿FDWHLVLVVXHGLQDFFRUGDQFHZLWKWKHWHUPVRIRXUHQJDJHPHQWOHWWHUGDWHG'HFHPEHU

7KLVUHSRUWFRQWDLQVGHWDLOVRIFRPSOLDQFHRIFRQGLWLRQVRI&RUSRUDWH*RYHUQDQFHE\+&/7HFKQRORJLHV/LPLWHG µWKH&RPSDQ\¶ IRU WKH\HDUHQGHG0DUFKDVVWLSXODWHGLQUHJXODWLRQVWRFODXVH E WR L RIUHJXODWLRQ DQGSDUDJUDSKV&'DQG( RI6FKHGXOH9RIWKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD /LVWLQJ2EOLJDWLRQVDQG'LVFORVXUH5HTXLUHPHQWV 5HJXODWLRQV DVDPHQGHGIURPWLPHWRWLPH µ/LVWLQJ5HJXODWLRQV¶ SXUVXDQWWRWKH/LVWLQJ$JUHHPHQWRIWKH&RPSDQ\ZLWKWKH1DWLRQDO6WRFN ([FKDQJH/LPLWHGDQGWKH%RPED\6WRFN([FKDQJH/LPLWHG FROOHFWLYHO\UHIHUUHGWRDVWKHµ6WRFNH[FKDQJHV¶ DQGWREHVHQWWRWKH VKDUHKROGHUVRIWKHFRPSDQ\

0DQDJHPHQW¶V5HVSRQVLELOLW\IRUFRPSOLDQFHZLWKWKHFRQGLWLRQVRI/LVWLQJ5HJXODWLRQV

7KHFRPSOLDQFHZLWKWKHWHUPVDQGFRQGLWLRQVFRQWDLQHGLQWKHFRUSRUDWHJRYHUQDQFHLVWKHUHVSRQVLELOLW\RIWKH0DQDJHPHQWRIWKH &RPSDQ\LQFOXGLQJWKHSUHSDUDWLRQDQGPDLQWHQDQFHRIDOOUHOHYDQWVXSSRUWLQJUHFRUGVDQGGRFXPHQWV

$XGLWRU¶V5HVSRQVLELOLW\

Our examination was limited to procedures and implementation thereof adopted by the Company for ensuring the compliance of the FRQGLWLRQVRI&RUSRUDWH*RYHUQDQFH,WLVQHLWKHUDQDXGLWQRUDQH[SUHVVLRQRIRSLQLRQRQWKH¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\

3XUVXDQW WR WKH UHTXLUHPHQWV RI WKH /LVWLQJ 5HJXODWLRQV LW LV RXU UHVSRQVLELOLW\ WR SURYLGH D UHDVRQDEOH DVVXUDQFH ZKHWKHU WKH &RPSDQ\KDVFRPSOLHGZLWKWKHFRQGLWLRQVRI&RUSRUDWH*RYHUQDQFHDVVWLSXODWHGLQWKH/LVWLQJ5HJXODWLRQVIRUWKH\HDUHQGHG 0DUFK

:HFRQGXFWHGRXUH[DPLQDWLRQLQDFFRUGDQFHZLWKWKH*XLGDQFH1RWHRQ5HSRUWVRU&HUWL¿FDWHVIRU6SHFLDO3XUSRVHV 5HYLVHG WKHµ*XLGDQFH1RWH¶ LVVXHGE\WKH,QVWLWXWHRI&KDUWHUHG$FFRXQWDQWVRI,QGLD µ,&$,¶ 7KH*XLGDQFH1RWHUHTXLUHVWKDWZH FRPSO\ZLWKWKHHWKLFDOUHTXLUHPHQWVRIWKH&RGHRI(WKLFVLVVXHGE\,&$,

:HKDYHFRPSOLHGZLWKWKHUHOHYDQWDSSOLFDEOHUHTXLUHPHQWVRIWKH6WDQGDUGRQ4XDOLW\&RQWURO 64& 4XDOLW\&RQWUROIRU)LUPV WKDW3HUIRUP$XGLWVDQG5HYLHZVRI+LVWRULFDO)LQDQFLDO,QIRUPDWLRQDQG2WKHU$VVXUDQFHDQG5HODWHG6HUYLFHV(QJDJHPHQWV

Opinion

In our opinion, and to the best of our information and according to explanations given to us, we certify that the Company has complied ZLWKWKHFRQGLWLRQVRI&RUSRUDWH*RYHUQDQFHDVVWLSXODWHGLQWKHDERYHPHQWLRQHG/LVWLQJ5HJXODWLRQV

:HVWDWHWKDWVXFKFRPSOLDQFHLVQHLWKHUDQDVVXUDQFHDVWRWKHIXWXUHYLDELOLW\RIWKH&RPSDQ\QRUWKHHI¿FLHQF\RUHIIHFWLYHQHVV ZLWKZKLFKWKHPDQDJHPHQWKDVFRQGXFWHGWKHDIIDLUVRIWKH&RPSDQ\

5HVWULFWLRQRQXVH

7KHFHUWL¿FDWHLVDGGUHVVHGDQGSURYLGHGWRWKHPHPEHUVRIWKH&RPSDQ\VROHO\IRUWKHSXUSRVHWRHQDEOHWKH&RPSDQ\WRFRPSO\ ZLWKWKHUHTXLUHPHQWRIWKH/LVWLQJ5HJXODWLRQVDQGLWVKRXOGQRWEHXVHGE\DQ\RWKHUSHUVRQRUIRUDQ\RWKHUSXUSRVH$FFRUGLQJO\ ZHGRQRWDFFHSWRUDVVXPHDQ\OLDELOLW\RUDQ\GXW\RIFDUHIRUDQ\RWKHUSXUSRVHRUWRDQ\RWKHUSHUVRQWRZKRPWKLVFHUWL¿FDWHLV VKRZQRULQWRZKRVHKDQGVLWPD\FRPHZLWKRXWRXUSULRUFRQVHQWLQZULWLQJ

For %65 &R//3 &KDUWHUHG$FFRXQWDQWV )LUPUHJLVWUDWLRQQXPEHU::

9LNUDP$GYDQL 3DUWQHU 0HPEHUVKLSQXPEHU 8',1$$$$%,

3ODFH*XUXJUDP 'DWH0D\

159 Corporate Governance Report '(&/$5$7,21 %< &+,() (;(&87,9( 2)),&(5 38568$17 72 5(*8/$7,21 2) 6(%, /,67,1* 2%/,*$7,216$1' ',6&/2685(5(48,5(0(176 5(*8/$7,216

:H6KLY1DGDU&KDLUPDQ &KLHI6WUDWHJ\2I¿FHUDQG&9LMD\DNXPDU3UHVLGHQW &KLHI([HFXWLYH2I¿FHURI+&/7HFKQRORJLHV/LPLWHG ³WKH&RPSDQ\´ FRQ¿UPWKDWWKH&RPSDQ\KDVDGRSWHGD&RGHRI%XVLQHVV(WKLFVDQG&RQGXFW ³&RGHRI&RQGXFW´ IRULWV%RDUG PHPEHUVDQGVHQLRUPDQDJHPHQWSHUVRQQHODQGWKH&RGHRI&RQGXFWLVDYDLODEOHRQWKH&RPSDQ\¶VZHEVLWH

:HIXUWKHUFRQ¿UPWKDWWKH&RPSDQ\KDVLQUHVSHFWRIWKH¿QDQFLDO\HDUHQGHG0DUFKUHFHLYHGIURPLWV%RDUGPHPEHUVDVZHOO DVVHQLRUPDQDJHPHQWSHUVRQQHODI¿UPDWLRQDVWRFRPSOLDQFHZLWKWKH&RGHRI&RQGXFW

6KLY1DGDU &9LMD\DNXPDU &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU 3UHVLGHQW &KLHI([HFXWLYH2I¿FHU

3ODFH1HZ'HOKL,QGLD 3ODFH1HZ-HUVH\86$ 'DWH0D\ 'DWH0D\

&(57,),&$7(%<&+,()(;(&87,9(2)),&(5 &(2 $1'&+,()),1$1&,$/2)),&(5 &)2 38568$17725(*8/$7,21 OF6(%, /,67,1*2%/,*$7,216$1'',6&/2685(5(48,5(0(176 5(*8/$7,216

7KH%RDUGRI'LUHFWRUV HCL Technologies Limited New Delhi

'HDUPHPEHUVRIWKH%RDUG

:HKDYHUHYLHZHGWKH¿QDQFLDOVWDWHPHQWVDQGWKHFDVKÀRZVWDWHPHQWRIWKH&RPSDQ\IRUWKH\HDUHQGHG0DUFKDQGWR the best of our knowledge and belief –

i) these statements do not contain any materially untrue statement or omit any material fact or contain statements that might be PLVOHDGLQJDQG

ii) WKHVHVWDWHPHQWVWRJHWKHUSUHVHQWDWUXHDQGIDLUYLHZRIWKH&RPSDQ\¶VDIIDLUVDQGDUHLQFRPSOLDQFHZLWKH[LVWLQJDFFRXQWLQJ VWDQGDUGVDSSOLFDEOHODZVDQGUHJXODWLRQV

There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year which are fraudulent, LOOHJDORUYLRODWLYHRIWKH&RPSDQ\¶VFRGHRIFRQGXFW

:HDFFHSWUHVSRQVLELOLW\IRUHVWDEOLVKLQJDQGPDLQWDLQLQJLQWHUQDOFRQWUROVIRU¿QDQFLDOUHSRUWLQJDQGWKDWZHKDYHHYDOXDWHGWKH HIIHFWLYHQHVVRILQWHUQDOFRQWUROV\VWHPVRIWKH&RPSDQ\SHUWDLQLQJWR¿QDQFLDOUHSRUWLQJ:HKDYHQRWFRPHDFURVVDQ\UHSRUWDEOH GH¿FLHQFLHVLQWKHGHVLJQRURSHUDWLRQRIVXFKLQWHUQDOFRQWUROV

:HKDYHLQGLFDWHGWRWKH$XGLWRUVDQGWKH$XGLW&RPPLWWHH±

L WKDWWKHUHDUHQRVLJQL¿FDQWFKDQJHVLQLQWHUQDOFRQWURORYHU¿QDQFLDOUHSRUWLQJGXULQJWKH\HDU

LL WKDWWKHUHDUHQRVLJQL¿FDQWFKDQJHVLQDFFRXQWLQJSROLFLHVGXULQJWKH\HDUDQG

LLL WKDW WKHUH DUH QR LQVWDQFHV RI VLJQL¿FDQW IUDXG RI ZKLFK ZH KDYH EHFRPH DZDUH DQG WKDW WKHUH LV QR LQYROYHPHQW RI WKH PDQDJHPHQWRUHPSOR\HHKDYLQJDVLJQL¿FDQWUROHLQWKH&RPSDQ\¶VLQWHUQDOFRQWUROV\VWHPRYHU¿QDQFLDOUHSRUWLQJ

&9LMD\DNXPDU 6KLY1DGDU 3UHVLGHQW &KLHI([HFXWLYH2I¿FHU &KDLUPDQ &KLHI6WUDWHJ\2I¿FHU 3ODFH1HZ-HUVH\86$ 3ODFH1HZ'HOKL,QGLD

3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU 3ODFH1RLGD 83 ,QGLD 3ODFH'HOKL,QGLD

'DWH0D\

Annual Report 2019-20 160 %XVLQHVV5HVSRQVLELOLW\5HSRUW

:LWK RXU VWURQJ FRPPLWPHQW WRZDUGV DQ DGKHUHQFH RQ VXVWDLQDELOLW\ DQG VXVWDLQDEOH EHVW SUDFWLFHV DFURVV RXU HFRV\VWHP ZH DUH GHOLJKWHGWRSUHVHQWKHUHZLWKWKH%XVLQHVV5HVSRQVLELOLW\5HSRUWRIWKH&RPSDQ\IRUWKH¿QDQFLDO\HDUHQGHG0DUFK7KLV UHSRUWLVSUHSDUHGSXUVXDQWWR5HJXODWLRQ I RIWKH6HFXULWLHVDQG([FKDQJH%RDUGRI,QGLD /LVWLQJ2EOLJDWLRQVDQG'LVFORVXUH 5HTXLUHPHQWV 5HJXODWLRQVDQGIROORZVWKH1DWLRQDO9ROXQWDU\*XLGHOLQHVRQ6RFLDO(QYLURQPHQWDODQG(FRQRPLF5HVSRQVLELOLWLHV RI%XVLQHVVDVVWLSXODWHGE\WKH0LQLVWU\RI&RUSRUDWH$IIDLUV*RYWRI,QGLD

7KLV%XVLQHVV5HVSRQVLELOLW\5HSRUWFRYHUVWKHUHVSRQVHVWRZDUGVWKHJRYHUQDQFHVWDNHKROGHUV¶UHODWLRQVDQGHQYLURQPHQWDOSDUDPHWHUV IRUWKHYDULRXVEXVLQHVVXQLWVGLUHFWO\XQGHU+&/7HFKQRORJLHV/LPLWHG

,QWURGXFWLRQ

HCL Technologies Limited (“HCL” or the “Company”) is a leading global technology company that helps global enterprises UHLPDJLQH DQG WUDQVIRUP WKHLU EXVLQHVVHV WKURXJK GLJLWDO WHFKQRORJ\ WUDQVIRUPDWLRQ +&/ RSHUDWHV RXW RI FRXQWULHV DQG KDV FRQVROLGDWHGUHYHQXHVRIFURUHIRUWKH\HDUHQGHG0DUFK+&/IRFXVHVRQSURYLGLQJDQLQWHJUDWHGSRUWIROLRRIVHUYLFHV XQGHUOLQHGE\LWV0RGHJURZWKVWUDWHJ\

0RGHHQFRPSDVVHVWKHFRUHVHUYLFHVLQWKHDUHDVRI$SSOLFDWLRQV,QIUDVWUXFWXUH%32DQG(QJLQHHULQJDQG5 'VHUYLFHVOHYHUDJLQJ '5

0RGHIRFXVHVRQH[SHULHQFHFHQWULFDQGRXWFRPHRULHQWHGLQWHJUDWHGRIIHULQJVRI'LJLWDODQG$QDO\WLFV,R7:R5.6&ORXG1DWLYH 6HUYLFHVDQG&\EHUVHFXULW\DQG*5&VHUYLFHVWRGULYHEXVLQHVVRXWFRPHVDQGHQDEOHHQWHUSULVHGLJLWDOL]DWLRQ

0RGHVWUDWHJ\LVHFRV\VWHPGULYHQFUHDWLQJLQQRYDWLYH,3SDUWQHUVKLSVWREXLOGSURGXFWVDQGSODWIRUPVEXVLQHVV+&/OHYHUDJHVLWV JOREDOQHWZRUNRILQWHJUDWHGFRLQQRYDWLRQODEVDQGJOREDOGHOLYHU\FDSDELOLWLHVWRSURYLGHKROLVWLFPXOWLVHUYLFHGHOLYHU\LQNH\LQGXVWU\ YHUWLFDOV LQFOXGLQJ )LQDQFLDO 6HUYLFHV 0DQXIDFWXULQJ 7HOHFRPPXQLFDWLRQV0HGLD 3XEOLVKLQJ (QWHUWDLQPHQW 5HWDLO DQG &3* /LIH 6FLHQFHVDQG+HDOWKFDUH2LODQG*DV(QHUJ\DQG8WLOLWLHV7UDYHO7UDQVSRUWDWLRQDQG/RJLVWLFVDQG*RYHUQPHQW

:LWKSURIHVVLRQDOVIURPGLYHUVHQDWLRQDOLWLHV+&/IRFXVHVRQFUHDWLQJUHDOYDOXHIRUFXVWRPHUVE\WDNLQJµ5HODWLRQVKLSV%H\RQG WKH&RQWUDFW¶

6HFWLRQ$*HQHUDO,QIRUPDWLRQDERXWWKH&RPSDQ\

&RUSRUDWH,GHQWLW\1XPEHU &,1 RIWKH /'/3/& &RPSDQ\

1DPHRIWKH&RPSDQ\ HCL Technologies Limited

5HJLVWHUHGDGGUHVV 6LGGKDUWK1HKUX3ODFH1HZ'HOKL,QGLD

:HEVLWH ZZZKFOWHFKFRP

5 (PDLO,' LQYHVWRUV#KFOFRP

)LQDQFLDO\HDUUHSRUWHG $SULOWR0DUFK

7 6HFWRU V WKDWWKH&RPSDQ\LVHQJDJHGLQ IT Infrastructure Services, Software Application Services, Engineering and LQGXVWULDODFWLYLW\FRGHZLVH 5 ' 6HUYLFHV DQG %XVLQHVV 3URFHVV6HUYLFHV

8 /LVWWKUHHNH\SURGXFWVVHUYLFHVWKDWWKH 0RGH&RUHVHUYLFHV: HCL delivers core services in the areas of Applications, &RPSDQ\PDQXIDFWXUHVSURYLGHV DVLQ ,QIUDVWUXFWXUH (QJLQHHULQJ DQG 5 ' DQG %XVLQHVV 6HUYLFHV OHYHUDJLQJ EDODQFHVKHHW DRYiCE70 $XWRQRPLFVWRWUDQVIRUPFOLHQWV¶EXVLQHVVDQG,7ODQGVFDSHPDNLQJ WKHPµOHDQ¶DQGµDJLOH¶ 0RGH1H[W*HQVHUYLFHV: HCL delivers experience–centric and outcome– RULHQWHGLQWHJUDWHGRIIHULQJVDFURVV'LJLWDODQG$QDO\WLFV,R7:R5.6&ORXG 1DWLYH6HUYLFHVDQG&\EHUVHFXULW\DQG*5&VHUYLFHV 0RGH 3URGXFWV DQG 3ODWIRUPV: HCL leverages its expertise in building VRIWZDUH ,3OHG EXVLQHVVHV RYHU WKH ODVW IRUW\ \HDUV OLNH ,7 $XWRPDWLRQ 2UFKHVWUDWLRQ+\EULG'DWD6HFXULW\DQG&ROODERUDWLRQ

161 Business Responsibility Report 9 7RWDOQXPEHURIORFDWLRQVZKHUHEXVLQHVV DFWLYLW\LVXQGHUWDNHQE\WKH&RPSDQ\ D 1XPEHURI,QWHUQDWLRQDO/RFDWLRQV D ,QWHUQDWLRQDO/RFDWLRQV The Company has presence LQ FRXQWULHV 3URYLGHGHWDLOVRIPDMRU DFURVV WKH JOREHLQFOXGLQJ,QGLD 0DMRU,QWHUQDWLRQDO/RFDWLRQVDUH$PHULFDV3RODQG0H[LFR3KLOLSSLQHV DQGWKH8. )RUPRUHGHWDLOVUHIHUKWWSVZZZKFOWHFKFRPJHRSUHVHQFH E 1XPEHURI1DWLRQDO/RFDWLRQV E 1DWLRQDO/RFDWLRQVThe Company is located across 9 states in India with DWRWDORIRI¿FHV

0DUNHWVVHUYHGE\WKH&RPSDQ\ Americas Europe 5HVWRIWKH:RUOG 5R: For details, please refer to KWWSVZZZKFOWHFKFRPJHRSUHVHQFH

6HFWLRQ%)LQDQFLDO'HWDLOVRIWKH&RPSDQ\

3DLGXS&DSLWDO ,15 DVRQ0DUFK `FURUH

7RWDO7XUQRYHU ,15 DVSHUWKH `FURUH FRQVROLGDWHG)LQDQFLDO6WDWHPHQWVIRUWKH \HDUHQGHG0DUFK

7RWDO3UR¿W$IWHU7D[HV ,15 DVSHUWKH `FURUH FRQVROLGDWHG)LQDQFLDO6WDWHPHQWVRQ 0DUFK

7RWDO6SHQGLQJRQ&RUSRUDWH6RFLDO During the year, the Company has contributed ൘FURUHIRU&65DFWLYLWLHV 5HVSRQVLELOLW\ &65 DVSHUFHQWDJHRI SUR¿WDIWHUWD[ )RUGHWDLOVUHIHUWR$QQH[XUHRIWKH'LUHFWRUV¶5HSRUW ZKLFKIRUPVSDUWRIWKLV $QQXDO5HSRUW

5 /LVWRI&65$FWLYLWLHVLQZKLFK 5HIHU WR$QQH[XUH RI WKH 'LUHFWRUV¶ 5HSRUW ZKLFK IRUPVSDUWRIWKLV$QQXDO H[SHQGLWXUHKDVEHHQ,QFXUUHG 5HSRUW

6HFWLRQ&2WKHU'HWDLOV

'RHV WKH &RPSDQ\ KDYH DQ\ VXEVLGLDU\ FRPSDQ\ /HVV WKDQ0RUHWKDQ@ The Company conducts vendor meets and participates in various NQRZOHGJH VKDULQJ SODWIRUPV ZLWK DQ REMHFWLYH WR VKDUH WKH %5 LQLWLDWLYHVZLWKLWVVXSSOLHUV

6HFWLRQ'%5,QIRUPDWLRQ

'HWDLOVRI'LUHFWRU'LUHFWRUVUHVSRQVLEOHIRU%5

'HWDLOVRIWKH'LUHFWRU'LUHFWRUVUHVSRQVLEOHIRULPSOHPHQWDWLRQRIWKH%5SROLF\SROLFLHV

',11XPEHU

1DPH 0V5RELQ$QQ$EUDPV

Designation Independent Director

Annual Report 2019-20 162 'HWDLOVRI%5+HDGRIWKH&RPSDQ\

',11XPEHU LIDSSOLFDEOH 1$

1DPH 0U5DYL.DWKXULD

Designation *OREDO+HDG&RPPXQLFDWLRQV&RUSRUDWH$IIDLUVDQG$GYRFDF\ 6HQLRU9LFH3UHVLGHQW0DUNHWLQJ (0($ DQG$3$&

7HOHSKRQHQXPEHU

(PDLOLG 5DYL.DWKXULD#KFOFRP

3ULQFLSOHZLVH DVSHU19*V %53ROLF\3ROLFLHV 5HSO\LQ<1

%553ULQFLSOHPDSSLQJWRWKHSROLFLHVRIWKH&RPSDQ\

3ULQFLSOHZLVH DVSHU19*V %53ROLF\3ROLFLHV 5HSO\LQ<1

Sl. Questions P1 3 3 P4 3 3 P7 3 3 No.

'R\RXKDYHDSROLF\SROLFLHVIRU3WR3 YYYYYYYYY

Have the policy been formulated in consultation with YYYYYYYYY the relevant stakeholders?

Does the policy conform to any national / international YYYYYYYYY standards?

+DVWKHSROLF\EHHQDSSURYHGE\WKH%RDUG",I\HV YYYYYYYYY KDVLWEHHQVLJQHGE\0'RZQHU&(2DSSURSULDWH %RDUG'LUHFWRU"

'RHV WKH &RPSDQ\ KDYH D VSHFL¿HG FRPPLWWHH YYYYYYYYY RI WKH %RDUG 'LUHFWRU 2I¿FLDO WR RYHUVHH WKH implementation of the policy?

Indicate the link for the policy to be viewed online? KWWSVZZZKFOWHFKFRPVRFLDOO\UHVSRQVLEOHEXVLQHVVRWKHUSROLFLHV

KWWSVZZZKFOWHFKFRPLQYHVWRUVFRUSRUDWHJRYHUQDQFHKFO

$OOSROLFLHVDUHOLVWHGRQWKH&RPSDQ\¶VLQWUDQHW KWWSVZZZP\KFOFRP!!+56WXGLR!!3ROLFLHV+XE

Has the policy been formally communicated to all YYYYYYYYY relevant internal and external stakeholders?

'RHV WKH &RPSDQ\ KDYH LQKRXVH VWUXFWXUH WR YYYYYYYYY implement the policy / policies?

Does the Company have a grievance redressal YYYYYYYYY mechanism related to the policy / policies to address VWDNHKROGHUV¶ JULHYDQFHV UHODWHG WR WKH SROLF\ policies?

Has the Company carried out independent audit / YYYYYYYYY evaluation of the working of this policy by an internal or external agency?

163 Business Responsibility Report Sl. 3ROLF\1DPH 3ULQFLSDO0DSSLQJ No.

(PSOR\HH&RGHRI%XVLQHVV(WKLFVDQG&RQGXFW 3

(TXDO2SSRUWXQLW\(PSOR\HU 33

Environment Policy 33

Occupational Health and Safety Policy 33

$QWL%ULEHU\DQG$QWL&RUUXSWLRQ3ROLF\ 3

3UHYHQWLRQDQG5HGUHVVDORI6H[XDO+DUDVVPHQWDW:RUNSODFH3ROLF\ 33

:KLVWOHEORZHU3ROLF\ 33

Procurement Policy 3

Siting Policy P8

6RFLDO0HGLD3ROLF\ P7

Supplier Diversity Policy 3

Stakeholder Engagement Framework 33

%XVLQHVV*LIWVDQG(QWHUWDLQPHQW3ROLF\ 3

P. %553ULQFLSOH No.

%XVLQHVVHVVKRXOGFRQGXFWDQGJRYHUQWKHPVHOYHVZLWK(WKLFV7UDQVSDUHQF\DQG$FFRXQWDELOLW\

%XVLQHVVHVVKRXOGSURYLGHJRRGVDQGVHUYLFHVWKDWDUHVDIHDQGFRQWULEXWHWRVXVWDLQDELOLW\WKURXJKRXWWKHLUOLIHF\FOH

%XVLQHVVHVVKRXOGSURPRWHWKHZHOOEHLQJRIDOOHPSOR\HHV

%XVLQHVVHVVKRXOGUHVSHFWWKHLQWHUHVWVRIDQGEHUHVSRQVLYHWRZDUGVDOOVWDNHKROGHUVHVSHFLDOO\WKRVHZKRDUHGLVDGYDQ taged, vulnerable and marginalized

%XVLQHVVHVVKRXOGUHVSHFWDQGSURPRWHKXPDQULJKWV

%XVLQHVVHVVKRXOGUHVSHFWSURWHFWDQGPDNHHIIRUWVWRUHVWRUHHQYLURQPHQW

%XVLQHVVHVZKHQHQJDJHGLQLQÀXHQFLQJSXEOLFDQGUHJXODWRU\SROLF\VKRXOGGRVRLQDUHVSRQVLEOHPDQQHU

%XVLQHVVHVVKRXOGVXSSRUWLQFOXVLYHJURZWKDQGHTXLWDEOHGHYHORSPHQW

%XVLQHVVHVVKRXOGHQJDJHZLWKDQGSURYLGHYDOXHWRWKHLUFXVWRPHUVDQGFRQVXPHUVLQDUHVSRQVLEOHPDQQHU

*RYHUQDQFHUHODWHGWR%5

$ ,QGLFDWH WKH IUHTXHQF\ ZLWK ZKLFK :LWKLQ WKH &RPSDQ\ WKH %RDUG &RPPLWWHHV SOD\ D YHU\ VLJQL¿FDQW UROH LQ WKH WKH %RDUG RI 'LUHFWRUV &RPPLWWHH JRYHUQDQFHVWUXFWXUH7KH\DUHHVVHQWLDOO\PHDQWWRGHDOZLWKVSHFL¿FDUHDVDFWLYLWLHVRI RI WKH %RDUG RU &(2 DVVHVV WKH %5 WKH&RPSDQ\7KHUHLVD&RUSRUDWH6RFLDO5HVSRQVLELOLW\ &65 &RPPLWWHH RI WKH%RDUG SHUIRUPDQFHRIWKH&RPSDQ\ ZKLFK PRQLWRUVDQGUHYLHZVWKH&65DFWLYLWLHV

)RUGHWDLOVRQWKHIUHTXHQF\RIWKH&65&RPPLWWHHPHHWLQJVNLQGO\UHIHUWKH³)UHTXHQF\ DQG OHQJWK RI PHHWLQJ RI WKH &RPPLWWHHV RI WKH %RDUG DQG $JHQGD´ section in the &RUSRUDWH*RYHUQDQFH5HSRUWZKLFKIRUPVSDUWRIWKLV$QQXDO5HSRUW % 'RHV WKH &RPSDQ\ SXEOLVK D %5 RU

Annual Report 2019-20 164 6HFWLRQ(3ULQFLSOHZLVH3HUIRUPDQFH

3ULQFLSOH%XVLQHVVHVVKRXOGFRQGXFWDQGJRYHUQWKHPVHOYHVZLWK(WKLFV7UDQVSDUHQF\DQG$FFRXQWDELOLW\

'RHVWKHSROLF\UHODWLQJWRHWKLFVEULEHU\

7KH SROLF\ GRFXPHQW KDV EHHQ XSORDGHG RQ +&/¶V ZHE SRUWDO KWWSVZZZKFOWHFKFRPLQYHVWRUVJRYHUQDQFHSROLFLHV

+RZ PDQ\ VWDNHKROGHU FRPSODLQWV KDYH 7KH&RPSDQ\KDVQRVLJQL¿FDQWFXVWRPHUFRPSODLQWVSHQGLQJLQDFWLYHOLWLJDWLRQDV EHHQ UHFHLYHG LQ WKH SDVW ¿QDQFLDO \HDU RQWKHHQGRIWKH¿QDQFLDO\HDUDQGWKHUHDUHQRFRQVXPHUFDVHVSHQGLQJDVRQ DQG ZKDW SHUFHQWDJH ZDV VDWLVIDFWRULO\ WKHHQGRIWKH¿QDQFLDO\HDU UHVROYHGE\WKH0DQDJHPHQW",IVRSURYLGH GHWDLOVWKHUHRILQDERXWZRUGVRUVR

3ULQFLSOH%XVLQHVVHVVKRXOGSURYLGHJRRGVDQGVHUYLFHVWKDWDUHVDIHDQGFRQWULEXWHWRVXVWDLQDELOLW\WKURXJKRXWWKHLUOLIH F\FOH

/LVWXSWRRI\RXUSURGXFWVRUVHUYLFHV HCL offers multiple IT related services and while designing these services, social ZKRVHGHVLJQKDVLQFRUSRUDWHGVRFLDORU and environmental concerns and related risks and opportunities are well taken care HQYLURQPHQWDO FRQFHUQV ULVNV DQG RU RI7KH&RPSDQ\¶VVHUYLFHVDUHRIIHUHGXQGHU+&/¶VVWUDWHJ\DVSUHVHQWHGEHORZ opportunities. +&/¶V0RGHVWUDWHJ\KHOSVIXWXUHSURRIFXVWRPHUV¶EXVLQHVVE\GHSOR\LQJD FRQFXUUHQWWKUHHSRLQWVSRWOLJKWRQWKHH[LVWLQJFRUHRIWKHLUEXVLQHVVQHZJURZWK DUHDVDVZHOODVWKHHFRV\VWHPVRIWKHIXWXUH$VGHWDLOHGEHORZHDFKRIWKHWKUHH PRGHVKDYHGLVWLQFWRXWFRPHVDQGJURZWKSRWHQWLDO

0RGH&RUH6HUYLFHV

8QGHU 0RGH +&/ GHOLYHUV FRUH VHUYLFHV LQ WKH DUHDV RI $SSOLFDWLRQV ,QIUDVWUXFWXUH%32DQG(QJLQHHULQJDQG5 ', leveraging DRYiCE autonomics DQG RUFKHVWUDWLRQ WR WUDQVIRUP FOLHQWV¶ EXVLQHVV DQG ,7 ODQGVFDSH PDNLQJ WKHP ³OHDQ´DQG³DJLOH´

0RGH1H[W*HQHUDWLRQ6HUYLFHV

8QGHU0RGH+&/GHOLYHUVH[SHULHQFHFHQWULFDQGRXWFRPHRULHQWHGLQWHJUDWHG offerings of Digital and $QDO\WLFV ,R7 :R5.6 &ORXG 1DWLYH 6HUYLFHV DQG &\EHUVHFXULW\DQG*5&VHUYLFHV

0RGH3URGXFWVDQG3ODWIRUPV

+&/FRQWLQXHVWRH[SORUHDQGHQWHULQWRLQQRYDWLYH,3EDVHGSDUWQHUVKLSVWDUJHWLQJ VSHFL¿FQH[WJHQHUDWLRQRSSRUWXQLWLHV0RGHLQFOXGHVWKHH[WHUQDO,3SDUWQHUVKLS ZLWK,%0H[WHQGLQJQRZWRKDOIDGR]HQSURGXFWV+&/DOVRFRQWLQXHVWRLQYHVWLQLWV internal IP creation strategy and expansion of capabilities and markets for DRYiCE, WKHQH[WJHQHUDWLRQDXWRQRPLFVDQGRUFKHVWUDWLRQSURGXFWVDQGSODWIRUP

165 Business Responsibility Report )RU HDFK VXFK SURGXFW SURYLGH WKH

WFR

Renewable Power Purchase

2SHUDWLRQDOUHODWHGLQWHUYHQWLRQ

+9$&2SHUDWLRQDO3HUIRUPDQFHV,PSURYHPHQW

Chiller Operational Performances Improvement

(QHUJ\(I¿FLHQW/LJKWLQJ &RQWUROV

(IIHFWLYHXWLOL]DWLRQRI836 598

5 Elevator and STP Operation optimization

6RODU:DWHU+HDWLQJ

*UDQG7RWDO

&RQYHUVLRQUHIHUHQFH*ULG(PLVVLRQ)DFWRUVCO%DVHOLQH'DWDEDVHIRUWKH ,QGLDQ3RZHU6HFWRU:HLJKWHGDYHUDJHHPLVVLRQIDFWRURIWKH,QGLDQ*ULG

taken in tCO0:K

Sl. :DWHUUHODWHG,QWHUYHQWLRQ3DUWLFXODUV HCL )< No. )DFLOLW\ ./ &RYHUHG

STP treated water use (7$1*3DQG SEZ NOIDA

:DWHUDHUDWRUV /30&DSDFLW\ PAN India

:DWHUUHXVH IRXQWDLQZDWHUUHMHFW 3XQH $0% water) 0'8

(:&ÀXVKYDOYHDGMXVWPHQW HYD

*UDQG7RWDO -

Annual Report 2019-20 166 'RHV WKH &RPSDQ\ KDYH SURFHGXUHV LQ Yes, the Company has Procurement Policy in place which discourages SODFHIRUVXVWDLQDEOHVRXUFLQJ LQFOXGLQJ discrimination with any vendor on the basis of gender, nationality, ethnicity, religion, WUDQVSRUWDWLRQ " ,I \HV ZKDW SHUFHQWDJH GLVDELOLW\ HWF ,Q DFFRUGDQFH ZLWK ORFDO OHJLVODWLRQV DQG EHVW SUDFWLFHV +&/¶V RI\RXULQSXWVZDVVRXUFHGVXVWDLQDEO\" SURFXUHPHQW SURFHVV LV WUDQVSDUHQW REMHFWLYH DQG QRQGLVFULPLQDWRU\ LQ WKH $OVRSURYLGHGHWDLOVWKHUHRILQDERXW selection of LWV YHQGRUV7KH &RPSDQ\ ZRUNV WRZDUGV VXVWDLQDEOH VRXUFLQJ DQG ZRUGVRUVR HQVXUH WKDW RXU &RPSDQ\¶V VRFLDO DQG HQYLURQPHQWDO SHUIRUPDQFH H[WHQGV WR RXUVXSSO\FKDLQE\VKDULQJRXUH[SHFWDWLRQV ZLWK RXU YHQGRUVIURPWLPHWRWLPH :HDOVRSURPRWHORFDOL]DWLRQRIEXVLQHVV E\ JLYLQJ SUHIHUHQFHV WR ORFDO YHQGRUV HCL is committed to do business with environmentally responsible vendors with an REMHFWLYH WRPLQLPL]HWKHDGYHUVHHIIHFWVRQWKHFRPPXQLW\WKHHQYLURQPHQW DQG QDWXUDOUHVRXUFHVZKLOHVDIHJXDUGLQJKHDOWKDQGVDIHW\RIWKHSXEOLF :HLQWHQGWRSURFXUHRIRXUJRRGVDQGVHUYLFHVIURPPDUJLQDOL]HGDQG YXOQHUDEOH VHFWLRQV RI VRFLHW\ HJ ZRPHQ DQG SHRSOH ZLWKGLVDELOLWLHV +DV WKH &RPSDQ\ WDNHQ DQ\ VWHSV

x E-waste – Conventional lights have been replaced with LED based lights, thereby reducing the harmful effects of mercury and reducing the health and HQYLURQPHQWDOFRQFHUQV3URMHFWRUVKDYHDOVREHHQUHSODFHGZLWK/('VWKXV FRQWULEXWLQJVLJQL¿FDQWO\WRSRZHUFRQVXPSWLRQDQGDWWKHVDPHWLPHUHGXFLQJ WKHZDVWH

x Paper – The campus strives to become a paperless campus and thus, VXLWDEOH PHDVXUHV OLNH SULQWHU SLQ GHSOR\PHQW SULQWHU RQ DOWHUQDWH ÀRRUV setting up maximum printing limit, double side printing and reduction in font size DUHHQFRXUDJHG7KHVHPHDVXUHVKDYHUHVXOWHGLQVLJQL¿FDQWFRQVHUYDWLRQRI SDSHU

x 5HGXFH5HF\FOH5HXVH– The waste management programs are based on WKHSULQFLSOHVRI5$OOWKHZDVWHJHQHUDWHGE\XVLVPHDVXUHGDQGTXDQWL¿HG 7KHZDVWHLVFDWHJRUL]HGDFFRUGLQJWRWKHVRXUFHDQGGLVSRVDO The hazardous waste is disposed of in environment friendly manner and paper ZDVWHLVUHF\FOHGDQGUHXVHG%LRPHGLFDOZDVWHLVGLVSRVHGRILQDVDIHPDQQHU )RRGUHPDLQVDQGJDUGHQZDVWHDUHUHXVHGWRPDNHPDQXUH

167 Business Responsibility Report 3ULQFLSOH%XVLQHVVHVVKRXOGSURPRWHWKHZHOOEHLQJRIDOOHPSOR\HHV

3OHDVHLQGLFDWHWKHWRWDOQXPEHURIHPSOR\HHV 7KH JOREDO IXOO WLPH HPSOR\HH FRXQW VWDQGV DW DV RQ 0DUFK

3OHDVHLQGLFDWHWKHWRWDOQXPEHURIHPSOR\HHVKLUHGRQ 7KHFRQWUDFWHPSOR\HHFRXQWVWDQGVDWDVRQ0DUFK WHPSRUDU\FRQWUDFWXDOFDVXDOEDVLV

3OHDVH LQGLFDWH WKH QXPEHU RI SHUPDQHQW ZRPHQ RIWKHWRWDOIXOOWLPHZRUNIRUFHDWWKH&RPSDQ\LVFRPSULVHG HPSOR\HHV RIIHPDOHHPSOR\HHV

3OHDVH LQGLFDWH WKH QXPEHU RI SHUPDQHQW HPSOR\HHV %HLQJ DQ HTXDO RSSRUWXQLW\ HPSOR\HU WKH &RPSDQ\ GRHV QRW ZLWKVSHFLDODELOLWLHV GLVFULPLQDWHVSHFLDOO\DEOHGSHRSOHDWWKHWLPHRIUHFUXLWPHQW$VSHU &RPSDQ\¶V SROLFLHV GLVFORVXUH RI VSHFLDO DELOLW\ LV QRW PDQGDWRU\ +RZHYHUDVRQ0DUFKVSHFLDOO\DEOHGSHRSOHKDYH YROXQWDULO\GHFODUHGWKHLUVWDWXV

5 'R\RXKDYHDQHPSOR\HHDVVRFLDWLRQWKDWLVUHFRJQL]HG :KLOH WKH &RPSDQ\ GRHV QRW UHVWULFW DQ\ HPSOR\HH IURP EHLQJ E\0DQDJHPHQW" a member of any employee related association and gives all the freedom, the Company also ensures to abide by the local laws SUHVHQWDFURVVWKHJHRJUDSKLHVWKDWLWRSHUDWHVLQ

:KDW SHUFHQWDJH RI \RXU SHUPDQHQW HPSOR\HHV DUH $OOWKHHPSOR\HHVDUHIUHHWRMRLQDQ\HPSOR\HHUHODWHGDVVRFLDWLRQV PHPEHUVRIWKLVUHFRJQL]HGHPSOR\HHDVVRFLDWLRQ" The Company does not prohibit them and hence this becomes a PDWWHURIHPSOR\HHV¶RZQFKRLFH

7 3OHDVH LQGLFDWH WKH QXPEHU RI FRPSODLQWV UHODWLQJ to In order to provide a safe and healthy work environment free FKLOG ODERXU IRUFHG ODERXU LQYROXQWDU\ODERXU sexual of any hassles and all kinds of harassment including sexual KDUDVVPHQW LQ WKH ODVW ¿QDQFLDO \HDU DQG SHQGLQJDV harassment and to prevent and redress such harassment RQWKHHQGRIWKH¿QDQFLDO\HDU complaints, the Company has in place Prevention and Redressal RI 6H[XDO +DUDVVPHQW DW :RUNSODFH 3ROLF\ 7KLV 3ROLF\ DSSOLHV WR DOO HPSOR\HHV RI WKH &RPSDQ\ LWV JURXS FRPSDQLHV DQG MRLQW ventures operating out of India like regular, temporary, ad hoc, daily wagers, contractual staff, vendors, clients, consultants, trainees, probationers, apprentices, contract labor and also all visitors to WKH &RPSDQ\$Q\ FRPSODLQWV DERXW KDUDVVPHQW VKDOO EH WUHDWHG XQGHUWKLV3ROLF\7KLV3ROLF\LVQRWFRQ¿QHGWR the actual working place of the employees in the sense of the physical space in which paid work may be performed as per the prescribed duty hours but also includes any place visited by the employee arising out of or GXULQJ WKH FRXUVH RI HPSOR\PHQW 7KH &RPSDQ\ KDV FRQVWLWXWHG a committee for the redressal of DOOVH[XDOKDUDVVPHQWFRPSODLQWV 7KHVH PDWWHUV DUH DOVR EHLQJ UHSRUWHG WR WKH $XGLW &RPPLWWHH During the reporting year, the Company has received 9 complaints on sexual harassment that ZHUH FODVVL¿HG DV VLJQL¿FDQW LQFLGHQWV for investigation, all of which were disposed and appropriate actions ZHUHWDNHQDQGQRFRPSODLQWVUHPDLQSHQGLQJDVRI0DUFK 7KHGHWDLOV RI WKHQXPEHU RI FRPSODLQWVUHFHLYHG WKURXJKµ6HFXUH¶ channel during the reporting period are as follows:

1XPEHURIFDVHVSHQGLQJDWWKHEHJLQQLQJRIWKH¿QDQFLDO Nil \HDULHRQ$SULO 1XPEHURIFDVHVUHFHLYHGGXULQJ¿QDQFLDO\HDU 9 1XPEHURIFDVHVVROYHGGXULQJ¿QDQFLDO\HDU 9 1XPEHURIFDVHVSHQGLQJDWWKHHQGRIWKH¿QDQFLDO\HDU Nil LHRQ0DUFK Child labour / Forced labour / Involuntary labour 1$ Discriminatory Employment Nil

Annual Report 2019-20 168 8 :KDWSHUFHQWDJHRI\RXUXQGHUPHQWLRQHG HPSOR\HHV 'XULQJWKH¿QDQFLDO\HDURYHUHPSOR\HHVDYDLOHG ZHUHJLYHQVDIHW\DQGVNLOOXSJUDGDWLRQ training in the PLOOLRQ KRXUV RI WUDLQLQJ IRU HQKDQFLQJ WKHLU FXUUHQW VNLOOV DQG ODVW\HDU" OHDUQLQJ QHZ VNLOOV 2YHU HPSOR\HHV ZHUH DOVR WUDLQHG LQ GLJLWDOVNLOOVGXULQJWKLVSHULRG D 3HUPDQHQW(PSOR\HHV E 3HUPDQHQW:RPHQ(PSOR\HHV )7((PSOR\HHV¶KHDGFRXQW F &DVXDO7HPSRUDU\&RQWUDFWXDO(PSOR\HHV G (PSOR\HHVZLWK'LVDELOLWLHV 3HUPDQHQW:RPHQ Employees

&RQWUDFWXDOHPSOR\HHV¶ headcount

Employees with Disabilities %HLQJ DQ HTXDO RSSRUWXQLW\ employer and following the law, the Company does not mandate GLVFORVXUH RI GLVDELOLW\ $V RQ 0DUFK SHUVRQV with disabilities have voluntarily GHFODUHGWKHLUVWDWXV

3ULQFLSOH%XVLQHVVHVVKRXOGUHVSHFWWKHLQWHUHVWVRIDQGEHUHVSRQVLYHWRZDUGVDOOVWDNHKROGHUVHVSHFLDOO\WKRVHZKRDUH GLVDGYDQWDJHGYXOQHUDEOHDQGPDUJLQDOL]HG

+DVWKH&RPSDQ\PDSSHG

169 Business Responsibility Report Details of the stakeholder engagement and outcomes are provided below:

Stakeholder Key Sustainability Priority Sections in which priorities are addressed Employees Wellness and well-being,career development, Redefine Workplace, learning forums, grievance channels, and Repay Society hobby clubs, community volunteering Customers Innovative IT solutions, Green IT, CSR Responsible Business, Partnerships with customers Repay Society Vendors and Adherence to quality norms and ethical Responsible Business, Suppliers procurement Redefine Workplace Immediate Education, employability trainings, women Repay Society Communities empowerment and health / sanitation, in which we environmental initiatives operate Investors and Transparency and maintenance of high Responsible Business Share holders degree of disclosure levels and focus on good corporate governance NGOs and Community development, capacity building, Renew Ecosystem, Advocacy advocacy on human rights issues such as Repay Society Groups diversity, safety, advocacy on environment and climate change

Annual Report 2019-20 170 2XW RI WKH DERYH KDV WKH 7KH IROORZLQJ JURXSV KDYH EHHQ LGHQWL¿HG DV GLVDGYDQWDJHG YXOQHUDEOH DQG PDUJLQDOL]HG &RPSDQ\ LGHQWL¿HG WKH stakeholders: GLVDGYDQWDJHG YXOQHUDEOH DQG PDUJLQDOL]HGVWDNHKROGHUV" y Rural and urban slum communities living below poverty line y Children, women and youth y People with disabilities y Senior citizens y HCL support staff

$UHWKHUHDQ\VSHFLDOLQLWLDWLYHV The Company aims t o address the needs of the disadvantaged, vulnerable and marginalized WDNHQ E\ WKH &RPSDQ\ WR VHFWLRQVRIWKHVRFLHW\WKURXJKLWV&65SURJUDPV7KHVHSURJUDPVDUHDVIROORZV HQJDJHZLWKWKHGLVDGYDQWDJHG YXOQHUDEOH DQG PDUJLQDOL]HG y HCL Samuday VWDNHKROGHUV" ,I VR SURYLGH +&/*UDQW GHWDLOV WKHUHRI LQ DERXW y ZRUGVRUVR y +&/8GD\ y Power of One & Diversity Council

'HWDLOVRIWKHDERYHLQLWLDWLYHVDUHSURYLGHGXQGHU3ULQFLSOH

3ULQFLSOH%XVLQHVVHVVKRXOGUHVSHFWDQGSURPRWHKXPDQULJKWV

'RHVWKHSROLF\RIWKH&RPSDQ\ Human Rights Policy at HCL is applicable to all the employees (both permanent and RQ KXPDQ ULJKWV FRYHURQO\WKH FRQWUDFWXDO DFURVV WKH &RPSDQ\7KLV SROLF\ IXUWKHU H[WHQGV WR DOO WKLUGSDUW\ YHQGRUV DQG &RPSDQ\RUH[WHQGWRWKH*URXS VXSSOLHUVFRQWUDFWRUV1*2VDVZHOODVWRDOOWKHDI¿OLDWHVDQGVXEVLGLDULHVRIWKH&RPSDQ\ -RLQW 9HQWXUHV 6XSSOLHUV &RQWUDFWRUV1*2V2WKHUV"

+RZ PDQ\ VWDNHKROGHU 7KH &RPSDQ\ KDV UHFHLYHG D WRWDO RI RYHUDOO FRPSODLQWV IURP YDULRXV VWDNHKROGHUV WKDW FRPSODLQWV KDYH EHHQ UHFHLYHG LQFOXGHFXVWRPHUVYHQGRUVDQGHPSOR\PHQWUHODWHGFDVHVGXULQJWKHVXEMHFW¿QDQFLDO\HDU LQ WKH SDVW ¿QDQFLDO \HDU DQG ZKDW SHUFHQW ZDVVDWLVIDFWRULO\ $OOWKHFRPSODLQWVKDYHEHHQVXFFHVVIXOO\UHVROYHGDVRQ0DUFK'HWDLOVSURYLGHGLQ UHVROYHGE\WKH0DQDJHPHQW" table below:

6RXUFHRI&RPSODLQW 5HFHLYHG 5HVROYHG 3HQGLQJ 'LUHFWO\IURPWKH,QYHVWRUV 7KURXJK6(%,6WRFN 55 ([FKDQJHVHWF Total -

3ULQFLSOH%XVLQHVVHVVKRXOGUHVSHFWSURWHFWDQGPDNHHIIRUWVWRUHVWRUHWKHHQYLURQPHQW

'RHV WKH SROLF\ UHODWH WR The Company has a dedicated Environmental Policy that serves as the guideline for 3ULQFLSOH FRYHU RQO\ WKH GHYHORSLQJLQLWLDWLYHVIRUSURWHFWLQJDQGUHVWRULQJHQYLURQPHQW &RPSDQ\ RU H[WHQGV WR WKH *URXS -RLQW 9HQWXUHV This Policy is applicable across the Company and its subsidiaries for achieving excellence in 6XSSOLHUV&RQWUDFWRUV1*2V HQYLURQPHQWDO SHUIRUPDQFH 7KLV 3ROLF\ DOVR DSSOLHV WR WKHVXSSOLHUV FRQWUDFWRUV DQG DOO RWKHUV" RWKHUSDUWQHUVDFURVVWKHYDOXHFKDLQIRUDGGUHVVLQJWKHJOREDOHQYLURQPHQWDOFKDOOHQJHV

'RHV WKH &RPSDQ\ KDYH Yes, HCL being environmentally conscious and socially responsible organization follows a VWUDWHJLHV LQLWLDWLYHV WR thoroughly responsible approach towards the environmental causes and has thus undertaken DGGUHVV JOREDO HQYLURQPHQWDO various initiatives internally that help reduce the carbon footprint, pollution and help maintain LVVXHVVXFKDVFOLPDWHFKDQJH HQHUJ\ FRQVHUYDWLRQ 6RPH H[DPSOHV LQFOXGH +&/ WUDQVSRUWDWLRQ LQLWLDWLYHV RI FDE SRROLQJ JOREDO ZDUPLQJ HWF" < 1 ,I &1*GULYHQFDEVXVLQJ8& &WRROVHWF7KHGHWDLOVRIPDQ\RWKHUVXFKLQLWLDWLYHVFDQEH \HV SOHDVH JLYH K\SHUOLQN IRU IRXQG LQ WKH QH[W VHW RI UHVSRQVHV RI WKH 5HSRUW +&/ SURPRWHV 5HGXFH 5HXVH 5HF\FOH ZHESDJHHWF SKLORVRSK\ZKLFKUHÀHFWVLWV*R*UHHQDSSURDFK

Please refer to the following link for policy context

KWWSVZZZKFOWHFKFRPVRFLDOO\UHVSRQVLEOHEXVLQHVV

171 Business Responsibility Report 'RHVWKH&RPSDQ\LGHQWLI\DQG 7KH &RPSDQ\ LGHQWL¿HV DQG DVVHVVHV SRWHQWLDO HQYLURQPHQW ULVNV LQ DOO DUHDV RI LWV DVVHVVSRWHQWLDOHQYLURQPHQWDO RSHUDWLRQV7KHHIIHFWLYH(QYLURQPHQWDO0DQDJHPHQW6\VWHPLVLQSODFHZKLFKLVLQOLQH ZLWK ULVNV"<1 ,626WDQGDUG¶VUHTXLUHPHQWV

'RHV WKH &RPSDQ\ KDYH DQ\ SURMHFW UHODWHG WR &OHDQ 'HYHORSPHQW0HFKDQLVP",I VR SURYLGHGHWDLOVWKHUHRI LQDERXW ZRUGVRUVR Not Applicable

$OVR LI

5 +DV WKH &RPSDQ\ XQGHUWDNHQ

7R FRQVHUYH WKH HQYLURQPHQW E\ DGRSWLQJ ³*R *UHHQ ,QLWLDWLYHV´ DQG LQFUHDVH RSHUDWLRQDO HI¿FLHQF\WKH,QLWLDWLYHVDQG*RRG3UDFWLFHVDWWULEXWHGWRZDUGVUHGXFWLRQLQFDUERQIRRWSULQW GXULQJWKH¿QDQFLDO\HDUDUHGHVFULEHGEHORZ

1. 5HQHZDEOH3RZHU3XUFKDVHIn continuation with our commitment to reduce “carbon IRRWSULQW´ ZH KDYH SURFXUHG UHQHZDEOH SRZHU HTXDO WR 0:+ IRU RXU PDMRU FDPSXVHVGXULQJWKH\HDU7KHVRXUFHRIWKLVSRZHUZDVZLQGVRODUDQGK\GHOEDVHG HOHFWULFLW\ 7KLV PXFK RI *UHHQ 3RZHU 3XUFKDVH KDV HQDEOHG WKH &RPSDQ\ WR UHGXFH

carbon footprint of W&2 (Ton of Carbon Emission) over the other available power UHVRXUFHVOLNH*ULGDQG&DSWLYH5HQHZDEOH3RZHULVFRQWULEXWLQJWR of overall 3$1,QGLD<7'FRQVXPSWLRQ

+LJK 6LGH &KLOOHU 2SHUDWLRQDO 3HUIRUPDQFH ,PSURYHPHQW Chiller Performance LPSURYHGLQDOOPDMRUIDFLOLWLHVGXHWRWKHLPSURYHPHQWLQWKHHIIHFWLYHQHVVRIFRROLQJWRZHU ZLWKWKHKHOSRIDXWRFKHPLFDOGR]LQJ¿OOVUHSODFHPHQWDQGFRQGHQVHUGHVFDOLQJDFWLYLWLHV which has helped the Company to save 0:+of energy during the year and has

also helped in reducing the carbon footprint by W&2 7RQRI&DUERQ(PLVVLRQ :DWHUFRROHGFKLOOHUVDUHLQVWDOOHGDWPRVWRIWKHORFDWLRQVZKLFKFRQVXPHOHVVHUSRZHU WKDQDLUFRROHGFKLOOHUVZKLOHDLUFRROHGFKLOOHUVDUHLQVWDOOHGRQO\LQZDWHUGH¿FLWDUHDV7KH auto chemical dozing system installed in SEZ Noida campus has also helped in saving VLJQL¿FDQWDPRXQWRIZDWHU

/RZ6LGH+9$&2SHUDWLRQDO3HUIRUPDQFH,PSURYHPHQW/RZVLGH+9$&V\VWHPV KDYHEHHQLPSOHPHQWHGLQDOOPDMRUIDFLOLWLHVLQFOXGLQJHQHUJ\HI¿FLHQWXQLWLQVWDOODWLRQ 9$9UHQRYDWLRQGHIHFWLYHFRLOVDQG¿OWHUUHSODFHPHQWLQFUHDVHRIWHPSHUDWXUHVHWSRLQW and other related operational controls that has helped the Company in saving 0:+ of energy during the year and has also helped in reducing the carbon footprint by

tCO 7RQRI&DUERQ(PLVVLRQ 9)'V 9DULDEOH)UHTXHQF\'ULYHV DUHDOVREHLQJXVHG LQ$+8VZKLFKUHVXOWLQORZHUSRZHUFRQVXPSWLRQE\UHJXODWLQJWKHIUHTXHQF\RIWKHPRWRU which is based on the return air temperature feedback, an indicator of the occupancy and KHDWORDG

,Q FULWLFDO DUHDV OLNH GDWD FHQWHUV DQG VHUYHU URRPV ZKHUH GXDO FLUFXLW DLUFRQGLWLRQLQJ SUHFLVLRQDQGFKLOOHGZDWHUEDVHG LVLQVWDOOHGDFKLOOHGZDWHUEDVHG+9$&V\VWHPLV SUHIHUUHGGXULQJUHJXODURSHUDWLRQV

Annual Report 2019-20 172 4. (QHUJ\ (I¿FLHQW /LJKWLQJ DQG &RQWURO LED lights are being used in all the areas LQFOXGLQJ2'&VDQGFRPPRQDUHDVDVZHOODVLQWKHEDVHPHQWVRIDOOPDMRUFDPSXVHV 0RWLRQVHQVRUVZKLFKRSHUDWHRQRFFXSDQF\DQGPRYHPHQWDQGXVHGD\OLJKWKDUYHVWLQJ feature have also been installed in these areas, which has resulted in optimum usage of OLJKWVDQGHQHUJ\FRQVHUYDWLRQ

(QHUJ\ VDYLQJV DFFUXHG GXULQJ WKH \HDU WRZDUGV ³,QWHUDFW /(' 1RQ,QWHUDFW /(' DQG (I¿FLHQW/LJKWLQJ&RQWUROV´KDVOHGWRVDYLQJRI0:+ of absolute energy consumption

during the year which has helped the Company to reduce W&2e 7RQRI&DUERQ (PLVVLRQ RIFDUERQIRRWSULQW

/('OLJKWLQJLPSOHPHQWHGXQGHU3URMHFW85-$LQ)<KDVFRQWLQXHGWRVDYHHQHUJ\DQG FRQWULEXWHGVLJQL¿FDQWO\LQVDYLQJ0:+of absolute energy consumption during the \HDUZLWKUHIHUHQFHWRWKHEDVH\HDUZKLFKLVEHLQJWUDFNHGWLOOWKHSD\EDFNSHULRG

(IIHFWLYH8WLOL]DWLRQRI836(IIHFWLYHXWLOL]DWLRQRI836V\VWHPVLQWKHVKRUWOLVWHGIDFLOLWLHV KDVEHHQUHDOL]HGE\LQVWDOOLQJHQHUJ\HI¿FLHQWXQLWDVSHUGHPDQGDQGE\LQFUHDVLQJWKH HI¿FLHQF\RIH[LVWLQJ836V\VWHPVWKURXJKVKXWGRZQRIRYHUFDSDFLWDWHG836V7KLVKDV enabled the Company to save 0:+ of absolute energy consumption during the year

and has helped reduced W&2H 7RQRI&DUERQ(PLVVLRQ RIFDUERQIRRWSULQW (OHYDWRUDQG6732SHUDWLRQRSWLPL]DWLRQRevised operating schedule of lifts has been DGRSWHG GXULQJ ZHHNHQGV LQ PDMRU FDPSXVHV 673 EORZHU UHWUR¿W LPSOHPHQWHG LQ RQH RIWKH%DQJDORUHUHJLRQIDFLOLWLHVDOVRFRQWLQXHGWRJLYHHQHUJ\VDYLQJ7KLVKHOSHGWKH Company to save 0:+RIDEVROXWHHQHUJ\FRQVXPSWLRQLQWKLV¿VFDO

reduce W&2H 7RQRI&DUERQ(PLVVLRQ RIFDUERQIRRWSULQW 7. 6RODU :DWHU +HDWLQJ Solar Hot water of /3' capacity installed in the month of )HEUXDU\ DW RQH RI WKH 0DGXUDL UHJLRQ IDFLOLWLHV FRQWLQXHG WR SUHVHUYH 0:+ RIHOHFWULFHQHUJ\UHTXLUHGIURPFRQYHQWLRQDOKHDWLQJWRKHDWZDWHU(QHUJ\VDYLQJZDV worked out in comparison to conventional method of electrical heating and was tracked till RQH\HDURIFRPSOHWLRQRIWKHDFWLYLW\

:DWHU&RQVHUYDWLRQ$XWRFKHPLFDOGR]LQJXVHRIWUHDWHGVHZDJHZDWHUIRUÀXVKLQJ XVHRIODQGVFDSLQJDQGVRIWZDWHUDSSOLFDWLRQVXVHRI/30ZDWHUDHUDWRUVLQKDQGZDVK taps, rainwater collection and its usage, all has led to the conservation of ground water of ./GXULQJWKH\HDU

$UH WKH (PLVVLRQV :DVWH

7 1XPEHU RI VKRZ FDXVH OHJDO 7KH&RPSDQ\KDVQRWUHFHLYHGDQ\VKRZFDXVHRUOHJDOQRWLFHVIURP&3&%RU63&% GXULQJ QRWLFHV UHFHLYHG IURP &3&% WKH¿QDQFLDO\HDU 63&% ZKLFK DUH SHQGLQJ LH QRWUHVROYHGWRVDWLVIDFWLRQ DV RQHQGRI)LQDQFLDO

173 Business Responsibility Report 3ULQFLSOH%XVLQHVVHVZKHQHQJDJHGLQLQÀXHQFLQJSXEOLFDQGUHJXODWRU\SROLF\VKRXOGGRVRLQDUHVSRQVLEOHPDQQHU

,V \RXU &RPSDQ\ D PHPEHU Yes, the Company is a member of various Industry Associations / Chambers and bodies, of RI DQ\ WUDGH DQG FKDPEHU RU ZKLFKWKH¿UVWPHQWLRQFRPHVRI DVVRFLDWLRQ" ,I

+DYH \RX DGYRFDWHG OREELHG Yes, the Company believes in the public good and rightly so as part of its responsible WKURXJK DERYH DVVRFLDWLRQV VRFLRHFRQRPLFEHKDYLRUWKDWLVFDUULHGIRUZDUGWRZDUGVYDULRXVSODWIRUPVDGYRFDF\FKDQQHOV IRU WKH DGYDQFHPHQW RU DQGIRUXPVLVE\ZD\RIOHQGLQJ&RPSDQ\¶VLGHDVYLVLRQVH[SHUWLVHDQGWKRXJKWOHDGHUVKLS LPSURYHPHQW RI SXEOLF JRRG" < 1 ,I \HV VSHFLI\ WKH EURDG DUHDV GURS ER[ *RYHUQDQFH The Company has aligned itself with relevant organizations who work in the larger business DQG $GPLQLVWUDWLRQ (FRQRPLF VRFLDOHQYLURQPHQWDODQGFRPPXQLW\LQWHUHVWV,QDGGLWLRQWKH&RPSDQ\DOVRFUHDWHVDQG 5HIRUPV,QFOXVLYH'HYHORSPHQW RZQVLQQRYDWLYHSLHFHVRIZRUNDQGVROXWLRQV 3ROLFLHV(QHUJ\VHFXULW\:DWHU )RRG 6HFXULW\ 6XVWDLQDEOH %XVLQHVV3ULQFLSOHV2WKHUV

Annual Report 2019-20 174 3ULQFLSOH%XVLQHVVHVVKRXOGVXSSRUWLQFOXVLYHJURZWKDQGHTXLWDEOHGHYHORSPHQW

'RHV WKH &RPSDQ\ KDYH

LL +&/*5$17

+&/*UDQWLVRQHRIWKHELJJHVWDQGPRVWFRYHWHGLQVWLWXWLRQDOL]HG&65JUDQWVLQ,QGLDWKDW DLPVWRUHFRJQL]HWKHULVHRIWKH)LIWK(VWDWHWKH1RQ*RYHUQPHQWDO2UJDQL]DWLRQV 1*2V DQGVXSSRUWWKHLUEUHDNWKURXJKSURMHFWVUHDFKLQJRXWWRWKHUXUDOFRPPXQLWLHVLQWKHFRXQWU\

,QWKH¿IWKHGLWLRQ+&/*UDQWUHFHLYHGRYHUUHJLVWUDWLRQVIURP1*2VUHSUHVHQWLQJDOO VWDWHVRI,QGLDLQWKHFDWHJRULHVRI(QYLURQPHQW+HDOWKDQG(GXFDWLRQ7KH¿QDOUHFLSLHQWV RIWKH¿IWKHGLWLRQRI+&/*UDQWZHUHVHOHFWHGDIWHUUREXVW¿HOGDVVHVVPHQWGXHGLOLJHQFH DQGGHOLEHUDWLRQVDWWKH6XE-XU\DQG-XU\URXQG7KHDQQRXQFHPHQWZDVPDGHGXULQJWKH +&/*UDQW&HUHPRQ\KHOGRQ)HEUXDU\WKHSUHVHQFHRI3DGPD%KXVKDQ0U.DSLO 'HYDOHJHQGLQWKHJOREDOZRUOGRIFULFNHWDQGIRUPHUFDSWDLQRIWKH,QGLDQ&ULFNHW7HDP

7KH+&/*UDQW(GLWLRQ9:LQQHUVDUH(GXFDWLRQ&DWHJRU\%DO5DNVKD%KDUDW 6DYH7KH &KLOGUHQ,QGLD +HDOWK&DWHJRU\±2SHUDWLRQ$VKDDQG(QYLURQPHQW&DWHJRU\±8QGHU7KH 0DQJR7UHH6RFLHW\6RIDUWKH+&/*UDQWKDVFRPPLWWHG൘&URUH 860LOOLRQ WKURXJKFXUUHQW+&/*UDQW3URMHFWVZLWKDQDPELWLRQWRUHDFKSHRSOHLQ YLOODJHVLQGLVWULFWV DVSLUDWLRQDO DFURVVVWDWHVDQGXQLRQWHUULWRU\RI,QGLDRI ZKLFKWKHSURMHFWVKDYHDOUHDG\FRYHUHGEHQH¿FLDULHV

175 Business Responsibility Report LLL HCL UDAY

:LWKDYLVLRQRIFOHDQJUHHQKHDOWK\DQGHPSRZHUHGFRPPXQLWLHV+&/)RXQGDWLRQZRUNVWR break the cycle of urban poverty, in alignment with sustainable development goals, through its LQWHJUDWHGXUEDQGHYHORSPHQWSURJUDP±+&/8GD\'H¿QLQJ8GD\¶VDSSURDFKLVLWVLQWULQVLF EHOLHIWKDWXUEDQSRRUDVSLUHWRDOLIHRIGLJQLW\DQGVHOIUHVSHFW7KURXJKWKLVSURJUDP+&/ Foundation creates these opportunities through carefully designed strategies that speak both WRWKHLUHQYLURQPHQWDQGWRWKHDPELWLRQVRIWKHFRPPXQLW\+&/HPSOR\HHHQJDJHPHQWDQG SDUWLFLSDWLRQLVDNH\OHYHUWKDWVSDQVDFURVVDOOSURJUDPV

&XUUHQWO\+&/8GD\LVUHDFKLQJRXWWRSHRSOHLQFLWLHVRI,QGLD

,Q)<SHRSOHEHQH¿WHGWKURXJKWKHHGXFDWLRQLQLWLDWLYHVRI+&/)RXQGDWLRQ that focus on early childhood care and development of children below six years, bridge and UHPHGLDWLRQVXSSRUWWRRXWRIVFKRROFKLOGUHQOLYLQJLQGLI¿FXOWFLUFXPVWDQFHVFRPSUHKHQVLYH WHFKQRORJ\EDVHG TXDOLW\ HQKDQFHPHQW RI JRYHUQPHQW VFKRROV DGXOW OLWHUDF\ DQG OLIHVNLOO EDVHG JHQGHU WUDQVIRUPDWLYH SURJUDPV IRU \RXWK DQG DGROHVFHQWV 7KURXJK WKH VNLOOLQJ LQLWLDWLYHV\RXWKZHUHWUDLQHGLQYDULRXVWUDGHVVXFKDVPHFKDQLFDO,7(6&50IDVKLRQ GHVLJQLQJ DQG QXUVLQJ SHRSOH EHQH¿WHG WKURXJK KHDOWK QXWULWLRQ DQG :$6+ interventions that include monthly health camps, weekly checkups, community healthcare SURJUDPVPDVVVDQLWDWLRQDQGFOHDQOLQHVVGULYHV8QGHUWKH(QYLURQPHQWSLOODURI+&/8GD\ we further strengthened efforts to protect, restore and enhance diminishing green cover, ELRGLYHUVLW\ZDWHUERGLHVDQGUHVSRQGLQJWRFOLPDWHFKDQJHLQDKROLVWLFPDQQHU&XPXODWLYHO\ WUHHVZHUHSODQWHGLQVFKRROVUHVLGHQWLDOVSDFHVDQGSXEOLFVSDFHVDQGDWWKHXUEDQ IRUHVWVLWHVNQRZQDV8GD\8SYDQDQGZDWHUERGLHVZHUHDOVRWDNHQXSIRUUHVWRUDWLRQDQG UHMXYHQDWLRQ7KH(QYLURQPHQWYHUWLFDOLVQRZNQRZQDVµ+DULWWKH*UHHQ6SDFHV,QLWLDWLYH¶

LY 32:(52)21(

3RZHURI2QH 3R LVWKHEDFNERQHIRURXUHPSOR\HHOHG&RUSRUDWH6RFLDO5HVSRQVLELOLW\ DQGRQHRIWKHNH\SURJUDPVRI+&/)RXQGDWLRQ3RZHURI2QHZDVLQWURGXFHGZLWKWKHLGHD WKDWDVPDOOFRQWULEXWLRQFDQPDNHDKXJHGLIIHUHQFHLQSHRSOH¶VOLYHVDQGFDQJRDORQJZD\ LQPDNLQJDVLJQL¿FDQWLPSDFWLQWKHVRFLHW\2XU+&/&RPPXQLW\&KDPSLRQVKDYHVKRZQ JUHDWFRPPLWPHQWWRZDUGVDOOYROXQWHHUEDVHGDFWLYLWLHVRI+&/)RXQGDWLRQDQGKDYHFORFNHG over YROXQWHHUKRXUVWKLV\HDU$GGLWLRQDOO\+&/LWHVDUHFRQWULEXWLQJ൘ SHUGD\XQGHUWKH3RSD\UROOJLYLQJSURJUDPLQ,QGLD7KHIXQGVFROOHFWHGWKURXJK3RZHURI One are used to support meritorious students through long term scholarships for excellence in DFDGHPLFVDQGVSRUWVXQGHUWKH0\6FKRODULQLWLDWLYH7KHVHVWXGHQWVEHORQJWRGLVDGYDQWDJHG EDFNJURXQGV DQG DUH IDPLO\ PHPEHUV RI +&/¶V VXSSRUW VWDII RU SDUW RI +&/ )RXQGDWLRQ VXSSRUWHGVFKRROVDQGFRPPXQLWLHV

Through this initiative, scholars get an opportunity to develop leadership skills, get mentoring DQGFRDFKLQJIRUWKHLUVXEMHFWVDQGFDUHHUFRXQVHOOLQJ7KLV\HDUVFKRODUVKLSVZRUWK ODNKV IXOO\ SRZHUHG E\ WKH 3R FRQWULEXWLRQ RI +&/LWHV ZHUH JLYHQ RXW WR PHULWRULRXV VWXGHQWVIRUH[FHOOHQFHLQDFDGHPLFVDQGVSRUWV

1HZ,QLWLDWLYH&OHDQ12,'$&OHDQ12,'$DQ+&/)RXQGDWLRQLQLWLDWLYHVWDUWHGLQ FDUULHVRXWZRUNVDQGVHUYLFHVWRLPSOHPHQWHIIHFWLYH6ROLG:DVWH0DQDJHPHQWLQ1RLGDFLW\ LQ SDUWQHUVKLS ZLWK 1RLGD 'HYHORSPHQW $XWKRULW\ 7KLV LQLWLDWLYH DLPV WR WUDQVIRUP WKH FLW\ LQWRDOLWWHUDQGZDVWHIUHHUHJLRQFRYHULQJ5HVLGHQWLDO:HOIDUH$VVRFLDWLRQV 5:$V DQG XUEDQ YLOODJHV ZLWK PDMRU IRFXV RQ FDSDFLW\ EXLOGLQJ RI UHOHYDQW VWDNHKROGHUV LQWHQVLYH EHKDYLRXUFKDQJHFDPSDLJQVDZDUHQHVVGULYHVDQGWHFKQRORJLFDOVROXWLRQV

+&/)RXQGDWLRQLQ*(2V

2QHRIWKHÀDJVKLSSURJUDPVRI+&/)RXQGDWLRQ3RZHURI2QHZDVHQDEOHGLQ,QGLDDQG 86XQWLOWKHEHJLQQLQJRIWKLV¿VFDO\HDU$ORQJZLWKDUDPSXSSODQLQSURJUHVVIRU3RLQ ERWK,QGLDDQG863RZHURI2QHLVQRZHQDEOHGLQ*UHDW%ULWDLQ1HWKHUODQGV*HUPDQ\ 3RODQG ZLWK SODQV RI ODXQFK LQ $XVWUDOLD (PSOR\HHV LQ WKHVH ORFDWLRQV DUH PDNLQJ YROXQWDU\FRQWULEXWLRQVLQWKHGHQRPLQDWLRQVRISHUPRQWKIRUHDFKORFDWLRQ

Annual Report 2019-20 176 $ Great Britain

- 3ULQFH¶V 7UXVW ± *HW 6WDUWHG ZLWK 7HFKQRORJ\ VHULHV 0RELOH DSSOLFDWLRQ development and digital learning skills with the aim of making young adults HPSOR\DEOHDQGMREUHDG\WKURXJKVNLOOVWUDLQLQJRSSRUWXQLWLHV

- 0DQFKHVWHU8QLWHGDQG3ULQFH¶V7UXVWFROODERUDWLRQIRUSURPRWLRQRI6SRUWV

- HPSOR\HHVSDUWLFLSDWHGLQWKHPRQWKORQJ)XQG5DLVLQJSURJUDP±)XWXUH 6WHSV*%3UDLVHGWRVXSSRUWWKHGLVDGYDQWDJHG\RXWKDW3ULQFH¶V7UXVW

% 6RXWK$IULFD

- 8QLYHUVLW\RI-RKDQQHVEXUJ3URPRWLRQRIGLJLWDOOLWHUDF\WKURXJKDQLQFOXVLYH VHDWHUFRPSXWHUODE

- 1HOVRQ0DQGHOD)RXQGDWLRQ6SRQVRULQJ0DQGHOD'D\/LEUDU\3URMHFWDVSDUW RI/LWHUDF\SURJUDPLQORFDOVFKRRO

- 7ZRVFKRROV7KXWKX]HNDQL3ULPDU\6FKRRO (OHWKX7KHPED3XEOLF6FKRRO

& 7KH8QLWHG6WDWHV+&/$PHULFD,QF +&/$ LVVXSSRUWLQJWKHIROORZLQJRUJDQL]DWLRQV LQWKH86$ 6XVDQ*.RPHQ :RPHQ¶VZDONUXQIRU&DU\*'&HPSOR\HHV Relay For Life :DONUXQIRU&DU\*'&HPSOR\HHV 1HZSRUW5RERWLFV*URXS Stem program – education of youth through technology Stem program – education of youth through new InspireNC ways to be innovative +DELWDWIRU+XPDQLW\RI 7KLVZLOOVSRQVRUKRPHEXLOGIRU&DU\*'&HPSOR\HHV :DNH&RXQW\ Rise Against Hunger )RRGSDFNDJLQJHYHQWVDFURVV*'&V ,PDJLQH%H\RQG Autism walk for Frisco employees )RXQGDWLRQ 626&KLOGUHQ¶V9LOODJHV Youth education and medical care

' $XVWUDOLD ± VSRQVRU RI %UHDVW &DQFHU DZDUHQHVV LQLWLDWLYHV WKURXJK WKH *OHQ 0F*UDWK)RXQGDWLRQ o :RPHQ/HDG&KDSWHU ( 6ZHGHQ:RPHQ/HDG&KDSWHUODXQFKHG o 6SRQVRULQJRI*LUOV,FHKRFNH\WHDP

$UH WKH SURJUDPPHV $OO WKH SURJUDPPHV DQG SURMHFWV DUH XQGHUWDNHQ WKURXJK +&/ )RXQGDWLRQ LQ FROODERUDWLRQ SURMHFWV XQGHUWDNHQ ZLWK +&/ HPSOR\HHV FXVWRPHUV DQG H[WHUQDO 1*2V )RU GHWDLOV SOHDVH UHIHU WKURXJKLQKRXVHWHDPRZQ KWWSVZZZKFOIRXQGDWLRQRUJ IRXQGDWLRQH[WHUQDO1*2 JRYHUQPHQWVWUXFWXUHVDQ\ RWKHURUJDQL]DWLRQ"

+DYH\RXGRQHDQ\LPSDFW

)XQGV8WLOL]DWLRQ&HUWL¿FDWHV )8& DQG$XGLW5HSRUWVDUHWZRSULPDU\LQVWUXPHQWVXVHGWRPRQLWRU WKHH[SHQGLWXUHRIWKHSURMHFWVXQGHUWDNHQ7KHTXDUWHUO\UHSRUWVDQGKDOI\HDUO\UHSRUWVIXUQLVKHGE\ &RPSDQ\¶VLPSOHPHQWLQJSDUWQHUVDUHVWXGLHGFDUHIXOO\DQGYHUL¿HGWKURXJK¿HOGYLVLWVE\¿HOGDQG SURJUDPPHRI¿FHUV&DVHVWXGLHVDUHFROOHFWHGIRUDOOWKHSURMHFWVDQGLQIRUPDOIHHGEDFNVHVVLRQV DUHKHOGZLWKWKHEHQH¿FLDULHVWRXQGHUVWDQGWKHLUVDWLVIDFWLRQOHYHOV%HVLGHVWKLVPHPEHUVRIWKH senior management of the Company undertake surprise visits to understand the overall impact RI FRPPXQLW\ LQLWLDWLYHV 7KH SHULRGLF ¿HOG DXGLWV DUH VXSSOHPHQWHG E\ WKH UHJXODU LQWHUDFWLRQ EHWZHHQ+&/YROXQWHHUVDQGWKHFRPPXQLW\PHPEHUV$OOWKHVHFKHFNVKHOS+&/)RXQGDWLRQLQ understanding gaps in the implementation of the community initiatives and to timely bridge these LGHQWL¿HGJDSV

177 Business Responsibility Report During the reporting period, the Company engaged an external agency for evaluation of its urban FRPPXQLW\GHYHORSPHQWSURJUDPV7KHREMHFWLYHVRIWKHH[WHUQDOHYDOXDWLRQZHUH

x 7R DSSUHFLDWLYHO\ HQTXLUH DOO LQWHUYHQWLRQV XQGHU WKH XUEDQ FRPPXQLW\ GHYHORSPHQW SURJUDP

x 7R XQGHUVWDQG WKH DSSURDFKHV DQG SURFHVVHV XQGHUWDNHQ E\ WKH SDUWQHU 1*2V LQ LPSOHPHQWLQJWKHVHLQWHUYHQWLRQVDQG

x 7RHYDOXDWHWKHLPSDFWFUHDWHGE\WKHVHLQWHUYHQWLRQV

The research process consisted of primary and secondary research involving interviews with +&/ )RXQGDWLRQ VHQLRU PDQDJHPHQW SURMHFW VWDII SDUWQHU 1*2V QRGDO RI¿FHU LQ FKDUJH RI LPSOHPHQWDWLRQH[WHUQDOVWDNHKROGHUVDQGEHQH¿FLDULHV,WIXUWKHULQYROYHGHYDOXDWLRQRISURMHFW GRFXPHQWVRI+&/)RXQGDWLRQDQGSDUWQHU1*2V7KH¿QGLQJVZHUHSUHVHQWHGWR+&/)RXQGDWLRQ IRUPDNLQJQHFHVVDU\FKDQJHVLQWKHLQWHUYHQWLRQDQGIRUIXWXUHUHIHUHQFH

:KDW LV \RXU &RPSDQ\¶V During the year, the Company has contributed `FURUHIRU&65DFWLYLWLHV)RUGHWDLOVRIWKH GLUHFW FRQWULEXWLRQ WR H[SHQGLWXUHUHIHUWR$QQH[XUHRIWKH'LUHFWRU¶V5HSRUWZKLFKIRUPVSDUWRIWKLV$QQXDO5HSRUW FRPPXQLW\ GHYHORSPHQW 7KHFRPPXQLW\GHYHORSPHQWLQLWLDWLYHVXQGHUWDNHQE\+&/)RXQGDWLRQDUHDOLJQHGWR6FKHGXOH9,, SURMHFWV $PRXQW LQ ,15 RIWKH&RPSDQLHV$FWVXVWDLQDEOHGHYHORSPHQWJRDOVDQGYDULRXVQDWLRQDOPLVVLRQV DQG WKH GHWDLOV RI WKH SURMHFWVXQGHUWDNHQ" List of all such community initiatives undertaken by HCL Foundation are given below: x Eradicating hunger, poverty and malnutrition, promoting healthcare including preventive health FDUHDQGVDQLWDWLRQDQGPDNLQJDYDLODEOHVDIHGULQNLQJZDWHU

x Promoting education including special education and skill development trainings for children, ZRPHQHOGHUO\DQGWKHGLIIHUHQWO\DEOHGEHVLGHVOLYHOLKRRGHQKDQFHPHQWSURMHFWV

x 3URPRWLQJ JHQGHU HTXDOLW\ HPSRZHULQJ ZRPHQ VHWWLQJ XS KRPHV DQG KRVWHOV IRU ZRPHQ and orphans, setting up old age homes, day care centers and such other facilities for senior FLWL]HQV

x 8QGHUWDNLQJPHDVXUHVIRUUHGXFLQJLQHTXDOLWLHVIDFHGE\VRFLDOO\DQGHFRQRPLFDOO\EDFNZDUG JURXSV

x (QVXULQJ HQYLURQPHQWDO VXVWDLQDELOLW\ DQG HFRORJLFDO EDODQFH SURWHFWLQJ ÀRUD DQG IDXQD SURPRWLQJ DQLPDO ZHOIDUH DQG DJURIRUHVWU\ FRQVHUYLQJ QDWXUDO UHVRXUFHV DQG PDLQWDLQLQJ TXDOLW\RIVRLODLUDQGZDWHU

x Protecting national heritage, art and culture including restoration of monuments and sites of historical importance and works of art, setting up public libraries, promoting and developing WUDGLWLRQDODUWVDQGKDQGLFUDIWV

x 8QGHUWDNLQJ PHDVXUHV IRU WKH EHQH¿W RI DUPHG IRUFHV YHWHUDQV ZDU ZLGRZV DQG WKHLU GHSHQGHQWV

x 3URYLGLQJWUDLQLQJVIRUSURPRWLRQRIUXUDOVSRUWVQDWLRQDOO\UHFRJQL]HGVSRUWV3DUDO\PSLFV¶ VSRUWVDQG2O\PSLFVSRUWVWKURXJK+&/8GD\DQG+&/6DPXGD\DQG

x 8QGHUWDNLQJUXUDOGHYHORSPHQWSURMHFWVWKURXJK+&/*UDQWDQG+&/6DPXGD\

5 +DYH \RX WDNHQ VWHSV WR 7KHREMHFWLYHRIWKHFRPPXQLW\LQLWLDWLYHVXQGHUWDNHQE\+&/)RXQGDWLRQLVWRFUHDWHSRVLWLYHDQG HQVXUHWKDWWKLVFRPPXQLW\ VXVWDLQDEOHLPSDFWVLQWKHOLYHVRIWKHFRPPXQLWLHVLQWKHORQJUXQ7KLVLVSRVVLEOHRQO\ZKHQ GHYHORSPHQW LQLWLDWLYH LV WKHFRPPXQLWLHVDGRSWWKHLQLWLDWLYHVRI+&/)RXQGDWLRQDQGLQFRUSRUDWHWKHPLQWKHLUGDLO\OLYHV VXFFHVVIXOO\ DGRSWHG E\ 9DULRXV PHDVXUHV WDNHQ E\ WKH )RXQGDWLRQ WR IDFLOLWDWH WKLV VXFFHVVIXO DGRSWLRQ RI FRPPXQLW\ WKH FRPPXQLW\" 3OHDVH initiatives are: H[SODLQLQZRUGVRUVR x ,PSURYLQJ FRPPXQLW\ RZQHUVKLS WKURXJK LGHQWL¿FDWLRQ DQG FDSDFLW\ EXLOGLQJ RI FRPPXQLW\ OHDGHUVIRUVXVWDLQLQJDQGSHUSHWXDWLQJWKHVHLQLWLDWLYHV

x /LQNLQJDYDLODEOHV\VWHPVOLNHJRYHUQPHQWLQLWLDWLYHVDQGSODQVZLWK+&/¶VFRPPXQLW\LQLWLDWLYHV E\SURPRWLQJFRQYHUJHQFHDQG

x Developing action plan to promote community awareness and exposure, building road map for FUHDWLQJSRVLWLYHLPSDFWHQJDJLQJ+&/YROXQWHHUVFUHDWLQJPDQXDOVIRUYDULRXVVHFWRUVHWF

Annual Report 2019-20 178 3ULQFLSOH%XVLQHVVHVVKRXOGHQJDJHZLWKDQGSURYLGHYDOXHWRWKHLUFXVWRPHUVDQGFRQVXPHUVLQDUHVSRQVLEOHPDQQHU

:KDW SHUFHQWDJH RI FXVWRPHU 7KH &RPSDQ\ KDV FXVWRPHU FDVHV RSHQ DV RQ 0DUFK FRPSODLQWV FRQVXPHU FDVHV DUH SHQGLQJ DV RQ WKH HQG RI ¿QDQFLDO\HDU"

'RHV WKH &RPSDQ\ GLVSOD\ Not Applicable SURGXFW LQIRUPDWLRQ RQ WKH SURGXFW ODEHO RYHU DQG DERYH ZKDW LV PDQGDWHG DV SHU ORFDO ODZV"

,V WKHUH DQ\ FDVH ¿OHG E\ 7KH&RPSDQ\KDVQRWUHJLVWHUHGDQ\VLJQL¿FDQWFRPSODLQWVLQWKHVDLGFDWHJRU\GXULQJWKH DQ\ VWDNHKROGHU DJDLQVW WKH ¿QDQFLDO\HDU &RPSDQ\ UHJDUGLQJ XQIDLU WUDGH SUDFWLFHV LUUHVSRQVLEOH %HVLGHV WKH UREXVW PHFKDQLVP RI WKH &RPSDQ\¶V LQWHUQDO FKHFNV DQG EDODQFHV SODFHV DQ DGYHUWLVLQJ DQG RU DQWL XQGHQ\LQJ UHVSRQVLELOLW\ RQ WKH OHDGHUVKLS DQG WHDPV WR GULYH WKH VRXO RI WKH SROLFLHV RQ FRPSHWLWLYHEHKDYLRUGXULQJWKH VXVWDLQDEOHEDVLV7KLVUHGXFHVWKHSRVVLELOLW\RIDQ\SLOIHUDJHV ODVW ¿YH \HDUV DQG SHQGLQJ DV RQ HQG RI ¿QDQFLDO \HDU" ,I VR SURYLGHGHWDLOVWKHUHRILQDERXW ZRUGVRUVR

'LG\RXU&RPSDQ\FDUU\RXWDQ\

The Company has Customer Advisory Council that meets twice a year to deliberate upon and SUHVHQWWKHLUUHFRPPHQGDWLRQVRQ&RPSDQ\¶VVWUDWHJLHV7KH&RPSDQ\KDVEHHQDZDUGHG ZLWK )RUUHVWHU *URXQGZHOO $ZDUG LQ WKH ³%XVLQHVVWR%XVLQHVV (PEUDFLQJ &DWHJRU\´ 7KH VXUYH\VWKDWZHGRDUHFDUULHGRXWE\WKHUGSDUW\

,WLVLQGHHGDPDWWHURISULGHIRUWKH&RPSDQ\WKDWLQWKHVXEMHFW¿QDQFLDO\HDU+&/FRQFOXGHG WKHDQQXDO&6$7IRURYHUNH\DFFRXQWVFRYHULQJRYHUJOREDOFXVWRPHUV

179 Business Responsibility Report 6WDQGDORQH ,QG$6 )LQDQFLDO6WDWHPHQWV

$QQXDO5HSRUW INDEPENDENT AUDITORS’ REPORT

7RWKH0HPEHUVRI+&/7HFKQRORJLHV/LPLWHG Basis for Opinion

5HSRUWRQWKH$XGLWRIWKH6WDQGDORQH)LQDQFLDO6WDWHPHQWV :H FRQGXFWHG RXU DXGLW LQ DFFRUGDQFH ZLWK WKH 6WDQGDUGV RQ $XGLWLQJ 6$V VSHFL¿HG XQGHU VHFWLRQ RI WKH $FW 2XU Opinion responsibilities under those SAs are further described in the $XGLWRU¶V5HVSRQVLELOLWLHVIRUWKH$XGLWRIWKH6WDQGDORQH)LQDQFLDO :H KDYH DXGLWHG WKH VWDQGDORQH ¿QDQFLDO VWDWHPHQWV RI 6WDWHPHQWV VHFWLRQ RI RXU UHSRUW :H DUH LQGHSHQGHQW RI WKH HCL Technologies Limited (“the Company”), which comprise Company in accordance with the Code of Ethics issued by the WKH 6WDQGDORQH %DODQFH 6KHHW DV DW 0DUFK DQG Institute of Chartered Accountants of India together with the ethical WKH 6WDQGDORQH 6WDWHPHQW RI 3UR¿W DQG /RVV LQFOXGLQJ RWKHU UHTXLUHPHQWV WKDW DUH UHOHYDQW WR RXU DXGLW RI WKH VWDQGDORQH comprehensive income), Standalone Statement of Changes in ¿QDQFLDOVWDWHPHQWVXQGHUWKHSURYLVLRQVRIWKH$FWDQGWKH5XOHV (TXLW\DQG6WDQGDORQH6WDWHPHQWRI&DVK)ORZVIRUWKH\HDUWKHQ WKHUHXQGHUDQGZHKDYHIXO¿OOHGRXURWKHUHWKLFDOUHVSRQVLELOLWLHV HQGHGDQGQRWHVWRWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVLQFOXGLQJ LQDFFRUGDQFHZLWKWKHVHUHTXLUHPHQWVDQGWKH&RGHRI(WKLFV:H D VXPPDU\ RI WKH VLJQL¿FDQW DFFRXQWLQJ SROLFLHV DQG RWKHU EHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXI¿FLHQWDQG H[SODQDWRU\LQIRUPDWLRQ KHUHLQDIWHUUHIHUUHGWRDVµWKHVWDQGDORQH appropriate to provide a basis for our opinion on the standalone ¿QDQFLDOVWDWHPHQWV¶ ¿QDQFLDOVWDWHPHQWV

In our opinion and to the best of our information and according to .H\$XGLW0DWWHUV WKH H[SODQDWLRQV JLYHQ WR XV WKH DIRUHVDLG VWDQGDORQH ¿QDQFLDO VWDWHPHQWVJLYHWKHLQIRUPDWLRQUHTXLUHGE\WKH&RPSDQLHV$FW .H\ DXGLW PDWWHUV DUH WKRVH PDWWHUV WKDW LQ RXU SURIHVVLRQDO ³$FW´ LQ WKH PDQQHU VR UHTXLUHG DQG JLYH D WUXH DQG IDLU YLHZ LQ MXGJPHQWZHUHRIPRVWVLJQL¿FDQFHLQRXUDXGLWRIWKHVWDQGDORQH conformity with the accounting principles generally accepted in India, ¿QDQFLDO VWDWHPHQWV RI WKH FXUUHQW SHULRG 7KHVH PDWWHUV ZHUH RIWKHVWDWHRIDIIDLUVRIWKH&RPSDQ\DVDW0DUFKDQGSUR¿W DGGUHVVHG LQ WKH FRQWH[W RI RXU DXGLW RI WKH VWDQGDORQH ¿QDQFLDO DQG RWKHU FRPSUHKHQVLYH LQFRPH FKDQJHV LQ HTXLW\ DQG LWV FDVK statements as a whole, and in forming our opinion thereon, and we ÀRZVIRUWKH\HDUHQGHGRQWKDWGDWH GRQRWSURYLGHDVHSDUDWHRSLQLRQRQWKHVHPDWWHUV

'HVFULSWLRQRI.H\$XGLW0DWWHU

7KHNH\DXGLWPDWWHU +RZWKHPDWWHUZDVDGGUHVVHGLQRXUDXGLW 5HYHQXH5HFRJQLWLRQRQ¿[HGSULFHFRQWUDFWV 6HHQRWH I DQGWRWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV 5HYHQXHDQGRQHURXVREOLJDWLRQLQUHVSHFWRIRSHQ¿[HGSULFH ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJDXGLW contracts involves critical estimates as there is an inherent SURFHGXUHVLQWKLVDUHDDPRQJRWKHUVWRREWDLQVXI¿FLHQWDSSURSULDWH and presumed fraud risk involved around the recognition of audit evidence: revenue, given the customized and complex nature of these evaluating the design, implementation and operating effectiveness FRQWUDFWV x RI LQWHUQDO FRQWUROV UHODWLQJ WR HVWLPDWLRQ RI HIIRUWV UHTXLUHG DQG Estimation of effort is a critical estimate to determine revenue recording of efforts incurred to complete the remaining contract DQG OLDELOLW\ IRU RQHURXV REOLJDWLRQV IRU RSHQ ¿[HG SULFH SHUIRUPDQFHREOLJDWLRQV FRQWUDFWV7KHHVWLPDWHKDVDKLJKLQKHUHQWXQFHUWDLQW\DVLW obtaining an understanding of the systems, processes and controls UHTXLUHVFRQVLGHUDWLRQRISURJUHVVRIFRQWUDFWVHIIRUWVLQFXUUHG x implemented by management for recording and computing revenue WLOOGDWHDQGHIIRUWVUHTXLUHGWRFRPSOHWHWKHUHPDLQLQJFRQWUDFW and associated contract assets, and unearned and deferred SHUIRUPDQFHREOLJDWLRQV UHYHQXHEDODQFHV x LQYROYLQJ RXU ,QIRUPDWLRQ 7HFKQRORJ\ µ,7¶ VSHFLDOLVWV WR DVVHVV the design, implementation and operating effectiveness of key IT controls over the IT environment in which business systems operate, including IT general controls and application controls pertaining to allocation of resources and budgeting systems which prevents unauthorized changes to recording of costs incurred and FRQWUROV UHODWLQJ WR WKH HVWLPDWLRQ RI FRQWUDFW FRVWV UHTXLUHG WR FRPSOHWHWKHSURMHFW x VHOHFWLQJ VSHFL¿FVWDWLVWLFDO VDPSOHV RI FRQWUDFWV DQG WHVWLQJ revenue recognition and estimation of onerous obligations, if any, by performing the following procedures: - HYDOXDWLQJLGHQWL¿FDWLRQRISHUIRUPDQFHREOLJDWLRQDQGDOORFDWLRQ RIWUDQVDFWLRQSULFHWRHDFKSHUIRUPDQFHREOLJDWLRQ - performing retrospective review of the costs incurred with HVWLPDWHGFRVWVWRLGHQWLI\VLJQL¿FDQWYDULDWLRQVDQGYHULI\LQJ variations have been considered in estimating the remaining FRVWVWRFRPSOHWHWKHFRQWUDFWDQG - assessing the appropriateness of work in progress (contract assets) on balance sheet date by verifying the underlying information and identify possible changes in estimated costs to FRPSOHWHWKHUHPDLQLQJSHUIRUPDQFHREOLJDWLRQV

Standalone Financial Statements 7KHNH\DXGLWPDWWHU +RZWKHPDWWHUZDVDGGUHVVHGLQRXUDXGLW 5HFRJQLWLRQDQG0HDVXUHPHQWRI,QWDQJLEOHVLQ$FTXLVLWLRQRI6HOHFW,%06RIWZDUHSURGXFWV 6HHQRWH L DQGWRWKH VWDQGDORQH¿QDQFLDOVWDWHPHQWV 7KH &RPSDQ\ FRPSOHWHG WKH DFTXLVLWLRQ RI 6HOHFW ,%0 ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJDXGLW 6RIWZDUH SURGXFWV RQ -XQH DQG DFFRXQWHG IRU WKLV SURFHGXUHV LQ WKLV DUHD DPRQJ RWKHUV WR REWDLQ VXI¿FLHQW DSSURSULDWH DFTXLVLWLRQDVDEXVLQHVVFRPELQDWLRQDVSHU,QG$6 audit evidence: $FFRXQWLQJIRUEXVLQHVVFRPELQDWLRQVFDQLQYROYHMXGJPHQWV WHVWLQJ WKH GHVLJQ DQG RSHUDWLQJ HIIHFWLYHQHVV RI WKH &RPSDQ\¶V in relation to the assessment of the fair values of assets and NH\FRQWUROVRYHUDFFRXQWLQJIRULGHQWL¿HGLQWDQJLEOHVDVVHWVLQD OLDELOLWLHV WKDW DUH UHFRJQLVHG RQ DFTXLVLWLRQ SDUWLFXODUO\ WKH EXVLQHVVFRPELQDWLRQ DOORFDWLRQ RI SXUFKDVH FRQVLGHUDWLRQ WR LGHQWL¿HG LQWDQJLEOHV DVVHWV LQVSHFWLQJGRFXPHQWDWLRQSHUWDLQLQJWRWKHDFTXLVLWLRQWRXQGHUVWDQG WKHNH\WHUPVDQGFRQGLWLRQVRIWKHDFTXLVLWLRQDQGDVVHVVLQJWKH Fair value of intangible assets was determined by the SURSRVHG DFFRXQWLQJ WUHDWPHQW IRU WKH LGHQWL¿HG LQWDQJLEOHV LQ Company with the assistance of an external valuation expert UHODWLRQWRWKH&RPSDQ\¶VDFFRXQWLQJSROLFLHVDQGUHOHYDQW,QG$6 using various valuation models, which were applied according WRWKHQDWXUHRIDVVHWVEHLQJPHDVXUHG DVVHVVLQJWKHFRPSHWHQFHFDSDELOLWLHVDQGREMHFWLYLW\RIH[WHUQDO experts engaged by the Company and gaining an understanding of This measurement was dependent on estimates of future cash WKHZRUNRIWKHH[SHUWVE\HYDOXDWLQJWKHYDOXDWLRQUHSRUWV ÀRZVZKLFKZHUHEDVHGRQWKH&RPSDQ\¶VLQWHUQDOIRUHFDVWV as well as the cost of capital and obsolescence rate applied HYDOXDWLQJ WKH UHDVRQDEOHQHVV RI &RPSDQ\¶V NH\ DVVXPSWLRQV DQG LV VXEMHFW WR XQFHUWDLQW\ GXH WR GHJUHH RI MXGJPHQW VXFKDVGLVFRXQWUDWHIXWXUHFDVKÀRZVREVROHVFHQFHDQGSHULRG LQYROYHG RI DPRUWL]DWLRQ )XUWKHU ZH DVVHVVHG SURYLVLRQDO SXUFKDVH SULFH DOORFDWLRQDQGWKHUHFRJQLWLRQDQGPHDVXUHPHQWRIDFTXLUHGLQWDQJLEOH 7KHUH ZDV FRPSOH[LW\ DQG MXGJPHQW LQYROYHG LQ UHFRJQLWLRQ DVVHWVEDVHGRQRXUNQRZOHGJHRIWKH&RPSDQ\DQGWKHLQGXVWU\ DQG IDLU YDOXH PHDVXUHPHQWV RI LQWDQJLEOH DVVHWV LGHQWL¿HG using our internal valuation specialists to evaluate the DQG UHFRJQL]HG LQ WKH EXVLQHVV DFTXLVLWLRQ PDGH E\ WKH appropriateness of the methodology and key assumptions used in &RPSDQ\ DOORFDWLRQRIWKHSXUFKDVHSULFHWRDFTXLUHGLQWDQJLEOHDVVHWVDQG DVVHVVLQJWKHDGHTXDF\RIWKH&RPSDQ\¶VGLVFORVXUHVLQUHVSHFWRI WKHDFTXLVLWLRQLQDFFRUGDQFHZLWKWKHUHOHYDQWDFFRXQWLQJVWDQGDUGV (YDOXDWLRQRIWD[SRVLWLRQVDQGOLWLJDWLRQV 6HHQRWH J DQGWRWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV 7KH&RPSDQ\LVUHTXLUHGWRHVWLPDWHLWVLQFRPHWD[OLDELOLWLHV ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJDXGLW LQDFFRUGDQFHZLWKWKHWD[ODZVDSSOLFDEOHLQ,QGLD)XUWKHU SURFHGXUHVLQWKLVDUHDDPRQJRWKHUVWRREWDLQVXI¿FLHQWDSSURSULDWH there are matters of interpretation in terms of application of tax audit evidence: laws and related rules to determine current tax provision and GHIHUUHGWD[HV WHVWLQJ WKH GHVLJQ DQG RSHUDWLQJ HIIHFWLYHQHVV RI WKH &RPSDQ\¶V key controls over identifying uncertain tax positions and matters The Company has material tax positions and litigations on LQYROYLQJOLWLJDWLRQVGLVSXWHV D UDQJH RI WD[ PDWWHUV7KLV UHTXLUHV PDQDJHPHQW WR PDNH obtaining details of tax positions and tax litigations for the year VLJQL¿FDQW MXGJPHQWV WR GHWHUPLQH WKH SRVVLEOH RXWFRPH RI XQFHUWDLQ WD[ SRVLWLRQV DQG OLWLJDWLRQV DQG WKHLU FRQVHTXHQW DQGDVDW0DUFKDQGKROGLQJGLVFXVVLRQVZLWKGHVLJQDWHG impact on related accounting and disclosures in the standalone PDQDJHPHQWSHUVRQQHO ¿QDQFLDOVWDWHPHQWV assessing and analysing select key correspondences with tax authorities and inspecting external legal opinions obtained by PDQDJHPHQWIRUNH\XQFHUWDLQWD[SRVLWLRQVDQGWD[OLWLJDWLRQV evaluating underlying evidence and documentation to determine whether the information provides a basis for amounts reserved / QRWUHVHUYHGLQWKHERRNVRIDFFRXQW LQYROYLQJRXULQWHUQDOWD[VSHFLDOLVWVDQGHYDOXDWLQJPDQDJHPHQW¶V underlying key assumptions in estimating the tax provisions and HVWLPDWHRIWKHSRVVLEOHRXWFRPHRIWD[OLWLJDWLRQVDQG in respect of tax positions and litigation, assessing the computation RI SURYLVLRQV DQG FRQVHTXHQW LPSDFW RQ UHODWHG DFFRXQWLQJ DQG GLVFORVXUHVLQWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV $GRSWLRQRI,QG$6/HDVHV 6HHQRWH O DQG D WRWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV 7KH&RPSDQ\KDVDGRSWHG,QG$6/HDVHVZLWKHIIHFW ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJDXGLW IURP$SULO7KH&RPSDQ\KDVFKRVHQWRDSSO\,QG$6 SURFHGXUHVLQWKLVDUHDDPRQJRWKHUVWRREWDLQVXI¿FLHQWDSSURSULDWH XVLQJ WKH PRGL¿HG UHWURVSHFWLYH DSSURDFK 7KHUHIRUH audit evidence: WKH &RPSDUDWLYH LQIRUPDWLRQ KDV QRW EHHQ DGMXVWHG DQG testing the design and implementation of controls pertaining to FRQWLQXHVWREHUHSRUWHGXQGHU,QG$6 UHFRJQLWLRQDQGPHDVXUHPHQWRIOHDVHVXQGHU,QG$6 The application and transition to this accounting standard is complex and is an area of focus in our audit since the Company HYDOXDWLQJWKHPHWKRGRIWUDQVLWLRQDQGUHODWHGDGMXVWPHQWV KDVDODUJHQXPEHURIOHDVHVZLWKGLIIHUHQWFRQWUDFWXDOWHUPV

$QQXDO5HSRUW 7KHNH\DXGLWPDWWHU +RZWKHPDWWHUZDVDGGUHVVHGLQRXUDXGLW $VDUHVXOWRIWKH&RPSDQ\¶VDGRSWLRQRIWKLVQHZVWDQGDUG WHVWLQJFRPSOHWHQHVVRIWKHOHDVHGDWDE\UHFRQFLOLQJWKH&RPSDQ\¶V VHYHUDOMXGJHPHQWVKDYHEHHQDSSOLHGDQGHVWLPDWHVPDGH RSHUDWLQJOHDVHFRPPLWPHQWVWRGDWDXVHGLQFRPSXWLQJ528DVVHW LQ GHWHUPLQLQJ WKH LPSDFW RI WKH VWDQGDUG RQ WKH ¿QDQFLDO and lease liabilities, and reviewing the residual rent expenses, security VWDWHPHQWV GHSRVLWVDQGRWKHUH[SHQVHVWRLGHQWLI\SRWHQWLDOOHDVHFRQWUDFWV $ VLJQL¿FDQW GDWD H[WUDFWLRQ H[HUFLVH ZDV XQGHUWDNHQ E\ verifying the accuracy of the underlying lease data by agreeing a management to summarize the leases such that the respective representative sample of leases to original contract or other related LQSXWV FRXOG EH XSORDGHG LQWR PDQDJHPHQW¶V PRGHO 2XU NH\ LQIRUPDWLRQDQGFKHFNHGWKHDFFXUDF\RI,QG$6FDOFXODWLRQV audit matter was focused on the following areas: for each lease sampled, through recalculation of the expected Ind $6DGMXVWPHQW - 7KHXQGHUO\LQJGDWDRIOHDVLQJDUUDQJHPHQWVLGHQWL¿HG and used to calculate the transitional impact under Ind assessing the appropriateness of the discount rates applied in $6PD\EHLQFRPSOHWHDQGRULQDFFXUDWH determining lease liabilities with inputs from third parties and evaluated the reasonability of discount rates through involvement of - 6SHFL¿FDVVXPSWLRQVDSSOLHGWRGHWHUPLQHWKHOHDVH RXUVSHFLDOLVWRQVDPSOHEDVLVDQG WHUPDQGGLVFRXQWUDWHVPD\EHLQDSSURSULDWHDQG assessing the presentation and disclosures, including those relating - 7KHGLVFORVXUHVLQWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV WR WUDQVLWLRQ ZLWKLQ WKH VWDQGDORQH ¿QDQFLDO VWDWHPHQWV ZLWK WKH PD\QRWEHLQDFFRUGDQFHZLWKWKHDSSOLFDEOH¿QDQFLDO DSSOLFDEOH¿QDQFLDOUHSRUWLQJIUDPHZRUN UHSRUWLQJIUDPHZRUN

2WKHU,QIRUPDWLRQ OLTXLGDWHWKH&RPSDQ\RUWRFHDVHRSHUDWLRQVRUKDVQRUHDOLVWLF DOWHUQDWLYHEXWWRGRVR 7KH &RPSDQ\¶V PDQDJHPHQW DQG %RDUG RI 'LUHFWRUV DUH UHVSRQVLEOH IRU WKH RWKHU LQIRUPDWLRQ 7KH RWKHU LQIRUPDWLRQ 7KH %RDUG RI 'LUHFWRUV LV DOVR UHVSRQVLEOH IRU RYHUVHHLQJ WKH FRPSULVHVWKHLQIRUPDWLRQLQFOXGHGLQWKH&RPSDQ\¶VDQQXDOUHSRUW &RPSDQ\¶V¿QDQFLDOUHSRUWLQJSURFHVV EXWGRHVQRWLQFOXGHWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVDQGRXU DXGLWRUV¶UHSRUWWKHUHRQ $XGLWRU¶V 5HVSRQVLELOLWLHV IRU WKH $XGLW RI WKH 6WDQGDORQH )LQDQFLDO6WDWHPHQWV 2XURSLQLRQRQWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVGRHVQRWFRYHU the other information and we do not express any form of assurance 2XU REMHFWLYHV DUH WR REWDLQ UHDVRQDEOH DVVXUDQFH DERXW ZKHWKHU FRQFOXVLRQWKHUHRQ WKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVDVDZKROHDUHIUHHIURPPDWHULDO PLVVWDWHPHQWZKHWKHUGXHWRIUDXGRUHUURUDQGWRLVVXHDQDXGLWRU¶V ,QFRQQHFWLRQZLWKRXUDXGLWRIWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV UHSRUW WKDW LQFOXGHV RXU RSLQLRQ 5HDVRQDEOH DVVXUDQFH LV D KLJK our responsibility is to read the other information and, in doing so, level of assurance, but is not a guarantee that an audit conducted consider whether the other information is materially inconsistent in accordance with SAs will always detect a material misstatement ZLWKWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVRURXUNQRZOHGJHREWDLQHG ZKHQLWH[LVWV0LVVWDWHPHQWVFDQDULVHIURPIUDXGRUHUURUDQGDUH LQ WKH DXGLW RU RWKHUZLVH DSSHDUV WR EH PDWHULDOO\ PLVVWDWHG ,I considered material if, individually or in the aggregate, they could based on the work we have performed, we conclude that there is a UHDVRQDEO\EHH[SHFWHGWRLQÀXHQFHWKHHFRQRPLFGHFLVLRQVRIXVHUV PDWHULDOPLVVWDWHPHQWRIWKLVRWKHULQIRUPDWLRQZHDUHUHTXLUHGWR WDNHQRQWKHEDVLVRIWKHVHVWDQGDORQH¿QDQFLDOVWDWHPHQWV UHSRUWWKDWIDFW:HKDYHQRWKLQJWRUHSRUWLQWKLVUHJDUG As part of an audit in accordance with SAs, we exercise professional 0DQDJHPHQW¶VDQG%RDUGRI'LUHFWRUV¶ 5HVSRQVLELOLW\IRU MXGJPHQW DQG PDLQWDLQ SURIHVVLRQDO VNHSWLFLVP WKURXJKRXW WKH WKH 6WDQGDORQH )LQDQFLDO 6WDWHPHQWV DXGLW:HDOVR

7KH &RPSDQ\¶V0DQDJHPHQWDQG%RDUGRI'LUHFWRUVDUHUHVSRQVLEOH x Identify and assess the risks of material misstatement of the IRU WKH PDWWHUV VWDWHG LQ VHFWLRQ RI WKH $FW ZLWK UHVSHFW VWDQGDORQH¿QDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRUHUURU WR WKH SUHSDUDWLRQ RI WKHVH VWDQGDORQH ¿QDQFLDO VWDWHPHQWV WKDW design and perform audit procedures responsive to those risks, JLYHDWUXHDQGIDLUYLHZRIWKHVWDWHRIDIIDLUVSUR¿WORVVDQGRWKHU DQG REWDLQ DXGLW HYLGHQFH WKDW LV VXI¿FLHQW DQG DSSURSULDWH FRPSUHKHQVLYH LQFRPH FKDQJHV LQ HTXLW\ DQG FDVK ÀRZV RI WKH WR SURYLGH D EDVLV IRU RXU RSLQLRQ 7KH ULVN RI QRW GHWHFWLQJ Company in accordance with the accounting principles generally a material misstatement resulting from fraud is higher than accepted in India, including the Indian Accounting Standards (Ind for one resulting from error, as fraud may involve collusion, $6 VSHFL¿HGXQGHUVHFWLRQRIWKH$FW7KLV UHVSRQVLELOLW\ DOVR forgery, intentional omissions, misrepresentations, or the LQFOXGHVPDLQWHQDQFHRIDGHTXDWH DFFRXQWLQJUHFRUGVLQDFFRUGDQFH RYHUULGHRILQWHUQDOFRQWURO with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other x Obtain an understanding of internal control relevant to the LUUHJXODULWLHV VHOHFWLRQ DQG DSSOLFDWLRQ RI DSSURSULDWH DFFRXQWLQJ audit in order to design audit procedures that are appropriate SROLFLHV PDNLQJ MXGJPHQWV DQG HVWLPDWHV WKDW DUH UHDVRQDEOH DQG LQWKHFLUFXPVWDQFHV8QGHUVHFWLRQ L RIWKH$FWZH SUXGHQW DQG GHVLJQ LPSOHPHQWDWLRQ DQG PDLQWHQDQFH RIDGHTXDWH are also responsible for expressing our opinion on whether LQWHUQDO¿QDQFLDOFRQWUROVWKDWZHUHRSHUDWLQJHIIHFWLYHO\IRUHQVXULQJ WKH FRPSDQ\ KDV DGHTXDWH LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK accuracy and completeness of the accounting records, relevant to the UHIHUHQFHWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVLQSODFHDQGWKH SUHSDUDWLRQDQGSUHVHQWDWLRQRIWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV RSHUDWLQJHIIHFWLYHQHVVRIVXFKFRQWUROV that give a true and fair view and are free from material misstatement, ZKHWKHUGXHWRIUDXGRUHUURU x Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related ,QSUHSDULQJWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVWKH0DQDJHPHQW GLVFORVXUHV LQ WKH VWDQGDORQH ¿QDQFLDO VWDWHPHQWV PDGH E\ DQG%RDUGRI'LUHFWRUVDUHUHVSRQVLEOHIRUDVVHVVLQJWKH&RPSDQ\¶V WKH0DQDJHPHQWDQG%RDUGRI'LUHFWRUV ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern x &RQFOXGH RQ WKH DSSURSULDWHQHVV RI WKH 0DQDJHPHQW DQG EDVLVRIDFFRXQWLQJXQOHVVWKH%RDUGRI'LUHFWRUVHLWKHULQWHQGVWR %RDUGRI'LUHFWRUVXVHRIWKHJRLQJFRQFHUQEDVLVRIDFFRXQWLQJ

Standalone Financial Statements and, based on the audit evidence obtained, whether a material comprehensive income), the Standalone Statement uncertainty exists related to events or conditions that may cast RI&KDQJHVLQ(TXLW\DQGWKH6WDQGDORQH6WDWHPHQW VLJQL¿FDQW GRXEW RQ WKH &RPSDQ\¶V DELOLW\ WR FRQWLQXH DV D of Cash Flows dealt with by this Report are in JRLQJFRQFHUQ,IZHFRQFOXGHWKDWDPDWHULDOXQFHUWDLQW\H[LVWV DJUHHPHQWZLWKWKHERRNVRIDFFRXQW ZHDUHUHTXLUHGWRGUDZDWWHQWLRQLQRXUDXGLWRU¶VUHSRUWWRWKH UHODWHG GLVFORVXUHV LQ WKH VWDQGDORQH ¿QDQFLDO VWDWHPHQWV RU G ,Q RXU RSLQLRQ WKH DIRUHVDLG VWDQGDORQH ¿QDQFLDO LIVXFKGLVFORVXUHVDUHLQDGHTXDWHWRPRGLI\RXURSLQLRQ2XU VWDWHPHQWVFRPSO\ZLWKWKH,QG$6VSHFL¿HGXQGHU conclusions are based on the audit evidence obtained up to the VHFWLRQRIWKH$FW GDWHRIRXUDXGLWRU¶VUHSRUW+RZHYHUIXWXUHHYHQWVRUFRQGLWLRQV PD\FDXVHWKH&RPSDQ\WRFHDVHWRFRQWLQXHDVDJRLQJFRQFHUQ (e) On the basis of the written representations received IURPWKHGLUHFWRUVDVRQ0DUFKWDNHQRQUHFRUG x Evaluate the overall presentation, structure and content of the E\ WKH %RDUG RI 'LUHFWRUV QRQH RI WKH GLUHFWRUV LV VWDQGDORQH ¿QDQFLDO VWDWHPHQWV LQFOXGLQJ WKH GLVFORVXUHV GLVTXDOL¿HGDVRQ0DUFKIURPEHLQJDSSRLQWHG DQGZKHWKHUWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVUHSUHVHQWWKH DVDGLUHFWRULQWHUPVRI6HFWLRQ RIWKH$FW underlying transactions and events in a manner that achieves IDLUSUHVHQWDWLRQ I :LWKUHVSHFWWRWKHDGHTXDF\RIWKHLQWHUQDO¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR VWDQGDORQH ¿QDQFLDO :H FRPPXQLFDWH ZLWK WKRVH FKDUJHG ZLWK JRYHUQDQFH UHJDUGLQJ statements of the Company and the operating among other matters, the planned scope and timing of the audit and effectiveness of such controls, refer to our separate VLJQL¿FDQW DXGLW ¿QGLQJV LQFOXGLQJ DQ\ VLJQL¿FDQW GH¿FLHQFLHV LQ 5HSRUWLQ³$QQH[XUH%´ LQWHUQDOFRQWUROWKDWZHLGHQWLI\GXULQJRXUDXGLW % :LWK UHVSHFW WR WKH RWKHU PDWWHUV WR EH LQFOXGHG LQ WKH :HDOVRSURYLGHWKRVHFKDUJHGZLWKJRYHUQDQFHZLWKDVWDWHPHQW $XGLWRUV¶ 5HSRUW LQ DFFRUGDQFH ZLWK 5XOH RI WKH WKDWZHKDYHFRPSOLHGZLWKUHOHYDQWHWKLFDOUHTXLUHPHQWVUHJDUGLQJ &RPSDQLHV $XGLW DQG $XGLWRUV 5XOHV LQ RXU independence, and to communicate with them all relationships opinion and to the best of our information and according and other matters that may reasonably be thought to bear on our to the explanations given to us: LQGHSHQGHQFHDQGZKHUHDSSOLFDEOHUHODWHGVDIHJXDUGV i. The Company has disclosed the impact of pending From the matters communicated with those charged with OLWLJDWLRQV DV DW 0DUFK RQ LWV ¿QDQFLDO governance, we determine those matters that were of most SRVLWLRQLQLWVVWDQGDORQH¿QDQFLDOVWDWHPHQWV5HIHU VLJQL¿FDQFHLQWKHDXGLWRIWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVRIWKH 1RWHWRWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV FXUUHQWSHULRGDQGDUHWKHUHIRUHWKHNH\DXGLWPDWWHUV:HGHVFULEH WKHVH PDWWHUV LQ RXU DXGLWRUV¶ UHSRUW XQOHVV ODZ RU UHJXODWLRQ ii. 7KH&RPSDQ\GLGQRWKDYHDQ\ORQJWHUPFRQWUDFWV precludes public disclosure about the matter or when, in extremely including derivative contracts for which there were rare circumstances, we determine that a matter should not be DQ\PDWHULDOIRUHVHHDEOHORVVHV FRPPXQLFDWHG LQ RXU UHSRUW EHFDXVH WKH DGYHUVH FRQVHTXHQFHV of doing so would reasonably be expected to outweigh the public iii. There has been no delay in transferring amounts, LQWHUHVWEHQH¿WVRIVXFKFRPPXQLFDWLRQ UHTXLUHGWREHWUDQVIHUUHGWRWKH,QYHVWRU(GXFDWLRQ DQG3URWHFWLRQ)XQGE\WKH&RPSDQ\DQG 2WKHU0DWWHU iv. 7KH GLVFORVXUHV LQ WKH VWDQGDORQH ¿QDQFLDO $WWHQWLRQLVGUDZQWRWKHIDFWWKDWWKHFRUUHVSRQGLQJ¿JXUHVIRUWKH statements regarding holdings as well as dealings \HDU HQGHG 0DUFK DUH EDVHG RQ WKH SUHYLRXVO\ LVVXHG LQ VSHFL¿HG EDQN QRWHV GXULQJ WKH SHULRG IURP VWDQGDORQH¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\WKDWZHUHDXGLWHG 1RYHPEHU WR 'HFHPEHU KDYH QRW E\WKHSUHGHFHVVRUDXGLWRUZKRH[SUHVVHGDQXQPRGL¿HGRSLQLRQRQ EHHQPDGHLQWKHVHVWDQGDORQH¿QDQFLDOVWDWHPHQWV WKRVH¿QDQFLDOVWDWHPHQWVRQ0D\ VLQFHWKH\GRQRWSHUWDLQWRWKH¿QDQFLDO\HDUHQGHG 0DUFK 2XURSLQLRQRQWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVLVQRWPRGL¿HG LQUHVSHFWRIWKLVPDWWHU & :LWKUHVSHFWWRWKHPDWWHUWREHLQFOXGHGLQWKH$XGLWRUV¶ 5HSRUWXQGHUVHFWLRQ 5HSRUWRQ2WKHU/HJDODQG5HJXODWRU\5HTXLUHPHQWV In our opinion and according to the information and explanations 1. $VUHTXLUHGE\WKH&RPSDQLHV $XGLWRUV¶5HSRUW 2UGHU given to us, the remuneration paid by the company to its directors ³WKH2UGHU´ LVVXHGE\WKH&HQWUDO*RYHUQPHQWLQWHUPVRI during the current year is in accordance with the provisions of VHFWLRQ RI WKH$FW ZH JLYH LQ WKH ³$QQH[XUH$´ D 6HFWLRQRIWKH$FW7KHUHPXQHUDWLRQSDLGWRDQ\GLUHFWRULVQRW VWDWHPHQWRQWKHPDWWHUVVSHFL¿HGLQSDUDJUDSKVDQGRI LQH[FHVVRIWKHOLPLWODLGGRZQXQGHU6HFWLRQRIWKH$FW7KH WKH2UGHUWRWKHH[WHQWDSSOLFDEOH 0LQLVWU\RI&RUSRUDWH$IIDLUVKDVQRWSUHVFULEHGRWKHUGHWDLOVXQGHU 6HFWLRQ ZKLFKDUHUHTXLUHGWREHFRPPHQWHGXSRQE\XV 2. $ $VUHTXLUHGE\6HFWLRQ RIWKH$FWZHUHSRUWWKDW For %65 &R//3 D :HKDYHVRXJKWDQGREWDLQHGDOOWKHLQIRUPDWLRQDQG Chartered Accountants explanations which to the best of our knowledge and )LUP¶V5HJLVWUDWLRQ1R:: EHOLHIZHUHQHFHVVDU\IRUWKHSXUSRVHVRIRXUDXGLW 9LNUDP$GYDQL E ,QRXURSLQLRQSURSHUERRNVRIDFFRXQWDVUHTXLUHG Partner by law have been kept by the Company so far as it 0HPEHUVKLS1R DSSHDUVIURPRXUH[DPLQDWLRQRIWKRVHERRNV ,&$,8',1$$$$%)

F 7KH 6WDQGDORQH %DODQFH 6KHHW WKH 6WDQGDORQH 3ODFH*XUXJUDP,QGLD 6WDWHPHQW RI 3UR¿W DQG /RVV LQFOXGLQJ RWKHU 'DWH0D\

$QQXDO5HSRUW $QQH[XUH$UHIHUUHGWRLQRXU,QGHSHQGHQW$XGLWRUV¶5HSRUW and based on our examination of the records of the Company, amounts deducted/ accrued in the books of :LWKUHIHUHQFHWRWKH$QQH[XUH$UHIHUUHGWRLQWKH,QGHSHQGHQW account in respect of undisputed statutory dues $XGLWRUV¶5HSRUWWRWKHPHPEHUVRI+&/7HFKQRORJLHV/LPLWHGRQ LQFOXGLQJ 3URYLGHQW IXQG (PSOR\HHV¶ 6WDWH ,QVXUDQFH WKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK ,QFRPH 7D[*RRGV DQG 6HUYLFH WD[ GXW\ RI &XVWRPV ZHUHSRUWWKHIROORZLQJ Cess and other material statutory dues have been regularly deposited during the year by the Company (i) (a) The Company has maintained proper records showing full ZLWKWKHDSSURSULDWHDXWKRULWLHV SDUWLFXODUVLQFOXGLQJTXDQWLWDWLYHGHWDLOVDQGVLWXDWLRQRILWV ¿[HGDVVHWV (b) According to the information and explanation given to us, no undisputed amounts payable in respect of (b) The Company has a regular programme of physical 3URYLGHQW )XQG (PSOR\HH¶V 6WDWH ,QVXUDQFH ,QFRPH YHUL¿FDWLRQRILWV¿[HGDVVHWVE\ZKLFKDOO ¿[HGDVVHWVDUH 7D[*RRGVDQG6HUYLFHWD[GXW\RI&XVWRPV&HVVDQG YHUL¿HGLQDSKDVHGPDQQHURYHUDSHULRGRIWKUHH\HDUV other statutory dues were outstanding, at the year end, ,Q RXU RSLQLRQWKLVSHULRGLFLW\RISK\VLFDO YHUL¿FDWLRQE\ for a period of more than six months from the date they management is reasonable having regard to the size EHFDPHSD\DEOH RI WKH &RPSDQ\ DQG WKH QDWXUH RI LWV DVVHWV3XUVXDQW WRWKHSURJUDPPH FHUWDLQ ¿[HGDVVHWV ZHUH SK\VLFDOO\ (c) According to the records of the Company, the dues of YHUL¿HG GXULQJ WKH \HDU DQG QR PDWHULDO GLVFUHSDQFLHV ,QFRPHWD[ 6HUYLFH WD[ 6DOHV WD[ *RRGV DQG 6HUYLFH ZHUHQRWLFHGRQVXFKYHUL¿FDWLRQ Tax, duty of Customs, duty of Excise and Provident Fund which have not been deposited by the Company with the (c) According to the information and explanations given to us, appropriate authorities on account of any disputes as at the title deeds of immovable properties included in property, 0DUFKDUHDVIROORZV SODQW DQG HTXLSPHQW DUH KHOG LQ WKH QDPH RI &RPSDQ\ In respect of immovable properties taken on lease and 1DPHRIWKH Nature of INR 3HULRGWR )RUXPZKHUH GLVFORVHGDVULJKWRIXVHDVVHWVLQWKHVWDQGDORQH¿QDQFLDO Statue WKHGXHV LQFURUHV ZKLFKDPRXQW GLVSXWHLV relates SHQGLQJ statements, the lease agreements are in the name of the &RPSDQ\ Income Tax Income Tax Financial Year Income Tax $FW Appellate Tribunal LL ,QYHQWRULHVO\LQJZLWK&RPSDQ\KDYHEHHQSK\VLFDOO\YHUL¿HG to E\ WKH PDQDJHPHQW GXULQJ WKH \HDU ,Q RXU RSLQLRQ WKH Financial Year IUHTXHQF\ RI VXFK YHUL¿FDWLRQ LV UHDVRQDEOH 1R PDWHULDO GLVFUHSDQFLHV ZHUH QRWLFHG RQ VXFK YHUL¿FDWLRQ ,QYHQWRULHV Income Tax Income Tax Financial Year Commissioner O\LQJZLWKWKLUGSDUWLHVKDYHEHHQFRQ¿UPHGE\WKHPDVDW\HDU $FW of Income Tax end and no material discrepancies were noticed in respect of DQG (Appeals) WR VXFKFRQ¿UPDWLRQ Financial Year (iii) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured to Income Tax Income Tax Financial Year +RQ¶EOH6XSUHPH $FW WR Court of India FRPSDQLHV¿UPVOLPLWHGOLDELOLW\SDUWQHUVKLSVRURWKHUSDUWLHV Financial Year FRYHUHGLQWKHUHJLVWHUPDLQWDLQHGXQGHUVHFWLRQRIWKH $FW$FFRUGLQJO\WKHSURYLVLRQVRISDUDJUDSK LLL D E DQG F RIWKH2UGHUDUHQRWDSSOLFDEOHWRWKH&RPSDQ\ Income Tax Income Tax Financial Year High Court of $FW Delhi DQG (iv) According to the information and explanations given to us, the Company has not entered into any transactions related to loans, investments, guarantees and securities to which the .DUQDWDND 9DOXH Financial Year The Joint 9DOXH$GGHG Added Tax Commissioner SURYLVLRQV RI 6HFWLRQ RI WKH $FW LV DSSOLFDEOH )XUWKHU 7D[$FW (Appeals) according to the information and explanations given to us %DQJDORUH and based on our audit procedures performed, we are of the RSLQLRQ WKDW SURYLVLRQV RI VHFWLRQ RI WKH$FW KDYH EHHQ %RPED\6DOHV 9DOXH Financial Year Joint 7D[$FW Added Tax Commissioner complied in respect of loan, guarantees and investments $SSHDOV 0XPEDL JLYHQE\WKH&RPSDQ\7KHUHDUHQRVHFXULWLHVSURYLGHGE\ WKH&RPSDQ\DVVSHFL¿HGXQGHUWKHVHFWLRQRIWKH$FW 0DKDUDVKWUD 9DOXH Financial Year Joint 9$7$FW Added Tax DQG Commissioner (v) According to the information and explanations given to us, the $SSHDOV 0XPEDL Company has not accepted any deposits as mentioned in the *RRGVDQG *RRGVDQG $SULO Additional GLUHFWLYHVLVVXHGE\WKH5HVHUYH%DQNRI,QGLDWKHSURYLVLRQV Service Tax Service Tax to Commissioner RIVHFWLRQWRRUDQ\RWKHUUHOHYDQWSURYLVLRQVRIWKH$FW $FW September RI*RRGVDQG DQGWKHUXOHVIUDPHGWKHUHXQGHU$FFRUGLQJO\WKHSURYLVLRQVRI Service Tax SDUDJUDSK Y RIWKH2UGHULVQRWDSSOLFDEOHWRWKH&RPSDQ\ Customs Act, Duty to Financial Year Common Customs $GMXGLFDWLQJ (vi) According to the information and explanations given to us, the Authority &HQWUDO*RYHUQPHQWKDVQRWSUHVFULEHGWKHPDLQWHQDQFHRI (Directorate of Revenue FRVWUHFRUGVXQGHUVXEVHFWLRQ RIVHFWLRQRIWKH$FWIRU Intelligence) DQ\RIWKHVHUYLFHVUHQGHUHGE\WKH&RPSDQ\$FFRUGLQJO\WKH SURYLVLRQVRISDUDJUDSK YL RIWKH2UGHULVQRWDSSOLFDEOHWR Customs Act, Duty to Financial Year 2I¿FHRI$VVLVWDQW WKH&RPSDQ\ Customs WR Commissioner of Financial Year Customs (vii) (a) According to the information and explanations given to us

Standalone Financial Statements Customs Act, Duty to Financial Year Customs, Excise, Company, the managerial remuneration has been provided/ Customs WR Service Tax paid by the Company in accordance with the provisions of Financial Year Appellant Tribunal, 6HFWLRQUHDGZLWK6FKHGXOH9WRWKH$FW 0DKDUDVKWUD

Finance Act Service Tax Financial Year High Court of (xii) According to the information and explanations given to us, in UHDGZLWK Allahabad our opinion, the Company is not a Nidhi Company as prescribed Service Tax XQGHU6HFWLRQRIWKH$FW$FFRUGLQJO\SDUDJUDSK [LL RI 5XOHV WKH2UGHULVQRWDSSOLFDEOHWRWKH&RPSDQ\ Finance Act Service Tax Financial Year Commissioner UHDGZLWK WR (Appeals) (xiii) According to the information and explanations given to us and Service Tax Financial Year based on of our examination of the records of the Company, 5XOHV all the transactions with the related parties are in compliance Finance Act Service Tax Financial Year Customs, Excise, ZLWKWKHSURYLVLRQVRI6HFWLRQVDQGRIWKH$FWZKHUH UHDGZLWK WR Service Tax applicable and the details have been disclosed in the notes Service Tax Financial Year Appellant Tribunal, 5XOHV Allahabad WR WKH VWDQGDORQH ¿QDQFLDO VWDWHPHQWV DV UHTXLUHG E\ WKH DSSOLFDEOHDFFRXQWLQJVWDQGDUGV &HQWUDO%RDUG Provident Financial Year %RPED\+LJK Trustees Fund WR Court (xiv)According to the information and explanation given to us and Financial Year based on of our examination of the records of the Company, the Company has not made any preferential allotment or $PRXQW UHSUHVHQWV DPRXQW GHPDQGHG LQ GHPDQG RUGHUV DQG private placement of shares or fully or partly convertible H[FOXGHVLQWHUHVWDQGSHQDOW\DVPD\EHDSSOLFDEOHWKHUHRQ GHEHQWXUHVGXULQJWKH\HDU$FFRUGLQJO\SDUDJUDSK [LY RI WKH2UGHULVQRWDSSOLFDEOHWRWKH&RPSDQ\ 7RWDO DPRXQW GHSRVLWHG XQGHU SURWHVWDGMXVWHG DJDLQVW UHIXQGV in respect of Income tax is ` &URUHV 'XW\ WR &XVWRPV LV (xv) According to information and explanations given to us and ` &URUHVDQG3URYLGHQW)XQGLV` &URUHV based on our examination of the records of the Company, WKH&RPSDQ\KDVQRWHQWHUHGLQWRDQ\QRQFDVKWUDQVDFWLRQV (viii) In our opinion and according to the information and explanations ZLWK GLUHFWRUV RU SHUVRQV FRQQHFWHG ZLWK WKHP$FFRUGLQJO\ given to us and based on our examination of the records of SDUDJUDSK [Y RIWKH2UGHULVQRWDSSOLFDEOHWRWKH&RPSDQ\ the Company, the Company has not defaulted in repayment of ORDQVRUERUURZLQJVWREDQNV7KH&RPSDQ\GLGQRWKDYHDQ\ (xvi)According to the information and explanations given to us, the RXWVWDQGLQJORDQVRUERUURZLQJVIURP¿QDQFLDOLQVWLWXWLRQVRU &RPSDQ\LVQRWUHTXLUHGWREHUHJLVWHUHGXQGHUVHFWLRQ,$ JRYHUQPHQWRUGXHVWRGHEHQWXUHKROGHUVGXULQJWKH\HDU RIWKH5HVHUYH%DQNRI,QGLD$FW

(ix) According to the information and explanations given to us, the Company has not raised any money by way of initial public RIIHUIXUWKHUSXEOLFRIIHUGHEWLQVWUXPHQWV,QRXURSLQLRQDQG according to the information and explanations given to us, the For%65 &R//3 term loans taken by the Company have been applied for the Chartered Accountants SXUSRVHVIRUZKLFKWKH\ZHUHUDLVHG )LUP¶V5HJLVWUDWLRQ1R::

(x) To the best of our knowledge and according to the information 9LNUDP$GYDQL and explanations given to us, no material fraud by the Partner &RPSDQ\RURQWKH&RPSDQ\E\LWVRI¿FHUVRUHPSOR\HHVKDV 0HPEHUVKLS1R EHHQQRWLFHGRUUHSRUWHGGXULQJWKHFRXUVHRIRXUDXGLW ,&$,8',1$$$$%)

(xi) In our opinion and according to information and explanations 3ODFH*XUXJUDP,QGLD given to us and based on our examination of the records of the 'DWH0D\

$QQXDO5HSRUW $QQH[XUH % WR WKH ,QGHSHQGHQW $XGLWRUV¶ UHSRUW RQ WKH DERXWWKHDGHTXDF\RIWKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFH VWDQGDORQH¿QDQFLDOVWDWHPHQWVRI+&/7HFKQRORJLHV/LPLWHG WR¿QDQFLDOVWDWHPHQWVDQGWKHLURSHUDWLQJHIIHFWLYHQHVV2XUDXGLW IRUWKH\HDUHQGHG0DUFK RILQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRVWDQGDORQH¿QDQFLDO statements included obtaining an understanding of such internal 5HSRUWRQWKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRWKH ¿QDQFLDO FRQWUROV DVVHVVLQJ WKH ULVN WKDW D PDWHULDO ZHDNQHVV DIRUHVDLGVWDQGDORQH¿QDQFLDOVWDWHPHQWVXQGHU&ODXVH L RI exists, and testing and evaluating the design and operating 6XEVHFWLRQRI6HFWLRQRIWKH&RPSDQLHV$FW HIIHFWLYHQHVVRILQWHUQDOFRQWUROEDVHGRQWKHDVVHVVHGULVN7KH SURFHGXUHVVHOHFWHGGHSHQGRQWKHDXGLWRU¶VMXGJHPHQWLQFOXGLQJ 5HIHUUHGWRLQSDUDJUDSK $ I XQGHUµ5HSRUWRQ2WKHU/HJDO the assessment of the risks of material misstatement of the DQG5HJXODWRU\5HTXLUHPHQWV¶VHFWLRQRIRXUUHSRUWRIHYHQ VWDQGDORQH¿QDQFLDOVWDWHPHQWVZKHWKHUGXHWRIUDXGRUHUURU GDWH :HEHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXI¿FLHQW Opinion and appropriate to provide a basis for our audit opinion on the &RPSDQ\¶VLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRVWDQGDORQH :HKDYHDXGLWHGWKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWR ¿QDQFLDOVWDWHPHQWV VWDQGDORQH¿QDQFLDOVWDWHPHQWVRI+&/7HFKQRORJLHV/LPLWHG ³WKH &RPSDQ\´ DVRI0DUFKLQFRQMXQFWLRQZLWKRXUDXGLWRI 0HDQLQJ RI ,QWHUQDO )LQDQFLDO FRQWUROV ZLWK 5HIHUHQFH WR WKHVWDQGDORQH¿QDQFLDOVWDWHPHQWVRIWKH&RPSDQ\IRUWKH\HDU 6WDQGDORQH)LQDQFLDO6WDWHPHQWV HQGHGRQWKDWGDWH $ FRPSDQ\¶V LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR ,QRXURSLQLRQWKH&RPSDQ\KDVLQDOOPDWHULDOUHVSHFWVDGHTXDWH VWDQGDORQH¿QDQFLDOVWDWHPHQWVLVDSURFHVVGHVLJQHGWRSURYLGH LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR VWDQGDORQH ¿QDQFLDO UHDVRQDEOHDVVXUDQFHUHJDUGLQJWKHUHOLDELOLW\RI¿QDQFLDOUHSRUWLQJ VWDWHPHQWV DQG VXFK LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR DQGWKHSUHSDUDWLRQRI¿QDQFLDOVWDWHPHQWVIRUH[WHUQDOSXUSRVHV VWDQGDORQH¿QDQFLDOVWDWHPHQWVZHUHRSHUDWLQJHIIHFWLYHO\DVDW LQ DFFRUGDQFH ZLWK JHQHUDOO\ DFFHSWHG DFFRXQWLQJ SULQFLSOHV $ 0DUFKEDVHGRQWKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFH FRPSDQ\¶VLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRVWDQGDORQH WR ¿QDQFLDO VWDWHPHQWV FULWHULD HVWDEOLVKHG E\ WKH &RPSDQ\ ¿QDQFLDOVWDWHPHQWVLQFOXGHWKRVHSROLFLHVDQGSURFHGXUHVWKDW considering the essential components of internal control stated pertain to the maintenance of records that, in reasonable detail, LQWKH*XLGDQFH1RWHRQ$XGLWRI,QWHUQDO)LQDQFLDO&RQWUROV2YHU DFFXUDWHO\ DQG IDLUO\ UHÀHFW WKH WUDQVDFWLRQV DQG GLVSRVLWLRQV RI Financial Reporting issued by the Institute of Chartered Accountants WKH DVVHWV RI WKH FRPSDQ\ SURYLGH UHDVRQDEOH DVVXUDQFH RI,QGLD WKH³*XLGDQFH1RWH´ that transactions are recorded as necessary to permit preparation RI ¿QDQFLDO VWDWHPHQWV LQ DFFRUGDQFH ZLWK JHQHUDOO\ DFFHSWHG 0DQDJHPHQW¶V5HVSRQVLELOLW\IRU,QWHUQDO)LQDQFLDO&RQWUROV accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations 7KH &RPSDQ\¶V PDQDJHPHQW DQG WKH %RDUG RI 'LUHFWRUV DUH RI PDQDJHPHQW DQG GLUHFWRUV RI WKH FRPSDQ\ DQG SURYLGH UHVSRQVLEOH IRU HVWDEOLVKLQJ DQG PDLQWDLQLQJ LQWHUQDO ¿QDQFLDO reasonable assurance regarding prevention or timely detection FRQWUROV EDVHG RQ WKH LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH RIXQDXWKRULVHGDFTXLVLWLRQXVHRUGLVSRVLWLRQRIWKHFRPSDQ\¶V WR VWDQGDORQH ¿QDQFLDO VWDWHPHQWV FULWHULD HVWDEOLVKHG E\ WKH DVVHWVWKDWFRXOGKDYHDPDWHULDOHIIHFWRQWKH¿QDQFLDOVWDWHPHQWV Company considering the essential components of internal control VWDWHG LQ WKH *XLGDQFH 1RWH 7KHVH UHVSRQVLELOLWLHV LQFOXGH WKH ,QKHUHQW /LPLWDWLRQV RI ,QWHUQDO )LQDQFLDO FRQWUROV ZLWK GHVLJQ LPSOHPHQWDWLRQ DQG PDLQWHQDQFH RI DGHTXDWH LQWHUQDO 5HIHUHQFHWR6WDQGDORQH)LQDQFLDO6WDWHPHQWV ¿QDQFLDOFRQWUROVWKDWZHUHRSHUDWLQJHIIHFWLYHO\IRUHQVXULQJWKH RUGHUO\DQGHI¿FLHQWFRQGXFWRILWVEXVLQHVVLQFOXGLQJDGKHUHQFHWR %HFDXVH RI WKH LQKHUHQW OLPLWDWLRQV RI LQWHUQDO ¿QDQFLDO FRQWUROV FRPSDQ\¶VSROLFLHVWKHVDIHJXDUGLQJRILWVDVVHWVWKHSUHYHQWLRQ ZLWK UHIHUHQFH WR VWDQGDORQH ¿QDQFLDO VWDWHPHQWV LQFOXGLQJ WKH and detection of frauds and errors, the accuracy and completeness possibility of collusion or improper management override of controls, of the accounting records, and the timely preparation of reliable material misstatements due to error or fraud may occur and not be ¿QDQFLDOLQIRUPDWLRQDVUHTXLUHGXQGHUWKH&RPSDQLHV$FW GHWHFWHG$OVRSURMHFWLRQVRIDQ\HYDOXDWLRQRIWKHLQWHUQDO¿QDQFLDO KHUHLQDIWHUUHIHUUHGWRDV³WKH$FW´ FRQWUROVZLWKUHIHUHQFHWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVWRIXWXUH SHULRGV DUH VXEMHFW WR WKH ULVN WKDW WKH LQWHUQDO ¿QDQFLDO FRQWUROV $XGLWRUV¶5HVSRQVLELOLW\ ZLWK UHIHUHQFH WR VWDQGDORQH ¿QDQFLDO VWDWHPHQWV PD\ EHFRPH LQDGHTXDWHEHFDXVHRIFKDQJHVLQFRQGLWLRQVRUWKDWWKHGHJUHHRI 2XUUHVSRQVLELOLW\LVWRH[SUHVVDQRSLQLRQRQWKH&RPSDQ\¶VLQWHUQDO FRPSOLDQFHZLWKWKHSROLFLHVRUSURFHGXUHVPD\GHWHULRUDWH ¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRVWDQGDORQH¿QDQFLDOVWDWHPHQWV EDVHGRQRXUDXGLW:HFRQGXFWHGRXUDXGLWLQDFFRUGDQFHZLWKWKH *XLGDQFH1RWHDQGWKH6WDQGDUGVRQ$XGLWLQJSUHVFULEHGXQGHU For %65 &R//3 VHFWLRQ RIWKH$FWWRWKHH[WHQWDSSOLFDEOHWRDQDXGLWRI Chartered Accountants LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR VWDQGDORQH ¿QDQFLDO )LUP¶V5HJLVWUDWLRQ1R:: VWDWHPHQWV 7KRVH 6WDQGDUGV DQG WKH *XLGDQFH 1RWH UHTXLUH WKDW ZH FRPSO\ ZLWK HWKLFDO UHTXLUHPHQWV DQG SODQ DQG SHUIRUP 9LNUDP$GYDQL WKHDXGLWWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUDGHTXDWH Partner LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR VWDQGDORQH ¿QDQFLDO 0HPEHUVKLS1R statements were established and maintained and whether such ,&$,8',1$$$$%) FRQWUROVRSHUDWHGHIIHFWLYHO\LQDOOPDWHULDOUHVSHFWV 3ODFH*XUXJUDP,QGLD Our audit involves performing procedures to obtain audit evidence 'DWH0D\

Standalone Financial Statements 6WDQGDORQH%DODQFH6KHHWDVDW0DUFK $OODPRXQWVLQFURUHVRI৷ As at As at Note No. 0DUFK 0DUFK I ASSETS 1RQFXUUHQWDVVHWV D 3URSHUW\SODQWDQGHTXLSPHQW (b) Capital work in progress F 5LJKWRIXVHDVVHWV G *RRGZLOO (e) Other intangible assets (f) Financial assets (i) Investments (ii) Loans (iii) Others (g) Deferred tax assets (net) K 2WKHUQRQFXUUHQWDVVHWV &XUUHQWDVVHWV (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables LLL &DVKDQGFDVKHTXLYDOHQWV D (iv) Other bank balances E (v) Loans (vi) Others (c) Current tax assets (net) (d) Other current assets

TOTAL ASSETS

II EQUITY D (TXLW\VKDUHFDSLWDO E 2WKHUHTXLW\ TOTAL EQUITY

III LIABILITIES 1RQFXUUHQWOLDELOLWLHV (a) Financial liabilities L %RUURZLQJV (ii) Lease liabilities (iii) Others (b) Provisions 775 F 2WKHUQRQFXUUHQWOLDELOLWLHV &XUUHQWOLDELOLWLHV (a) Financial liabilities (i) Trade payables 'XHVRIPLFURHQWHUSULVHVDQGVPDOOHQWHUSULVHV 'XHVRIFUHGLWRUVRWKHUWKDQPLFURHQWHUSULVHVDQGVPDOOHQWHUSULVHV (ii) Lease liabilities (iii) Others (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net) 755

TOTAL EQUITY AND LIABILITIES 6XPPDU\RIVLJQL¿FDQWDFFRXQWLQJSROLFLHV

7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHVWDQGDORQH¿QDQFLDOVWDWHPHQWV As per our report of even date attached )25%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG &KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU Partner Chairman and Director President and 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ *XUXJUDP,QGLD 1RLGD 83 ,QGLD 0D\ 0D\

$QQXDO5HSRUW 6WDQGDORQH6WDWHPHQWRI3UR¿WDQG/RVVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷

Note

II Expenses 3XUFKDVHRIVWRFNLQWUDGH &KDQJHVLQLQYHQWRULHVRIVWRFNLQWUDGH (PSOR\HHEHQH¿WVH[SHQVH Finance costs Depreciation and amortization expense Outsourcing costs Other expenses Total expenses

III 3UR¿WEHIRUHWD[

,9 Tax expense Current tax Deferred tax charge (credit) Total tax expense

9 3UR¿WIRUWKH\HDU

9, 2WKHUFRPSUHKHQVLYHLQFRPH (A) L ,WHPVWKDWZLOOQRWEHUHFODVVL¿HGWRVWDWHPHQWRISUR¿WDQGORVV LL ,QFRPHWD[RQLWHPVWKDWZLOOQRWEHUHFODVVL¿HGWRVWDWHPHQWRISUR¿WDQGORVV % L ,WHPVWKDWZLOOEHUHFODVVL¿HGVXEVHTXHQWO\WRVWDWHPHQWRISUR¿WDQGORVV LL ,QFRPHWD[RQLWHPVWKDWZLOOEHUHFODVVL¿HGVXEVHTXHQWO\WRVWDWHPHQWRISUR¿W and loss 9,, 7RWDORWKHUFRPSUHKHQVLYHLQFRPH

9,,, 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDU

Earnings per equity share of ൘HDFK %DVLF LQ൘ 'LOXWHG LQ൘ 6XPPDU\RIVLJQL¿FDQWDFFRXQWLQJSROLFLHV

Standalone Financial Statements Total other equity LQFRPH through other FRPSUHKHQVLYH 'HEWLQVWUXPHQWV 171 ÀRZ Cash UHVHUYH KHGJLQJ 5 2WKHUFRPSUHKHQVLYHLQFRPH UHVHUYH Foreign FXUUHQF\ translation - - 6SHFLDO UHVHUYH UHLQYHVWPHQW HFRQRPLF]RQH 5 (5) (7) Other equity Share EDVHG UHVHUYH SD\PHQW 7 7 14 - 14 Capital UHVHUYH UHGHPSWLRQ Capital UHVHUYH 5 7 5 5HVHUYHVDQG6XUSOXV SUHPLXP 6HFXULWLHV ------7 ------UHVHUYH General earnings 5HWDLQHG (7) Share FDSLWDO - - - - 1RLGD 83 ,QGLD 0D\ 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG Chairman and Director President and Shares 1XPEHURI (TXLW\VKDUHFDSLWDO 8 per share (including tax on 5 per share (including tax on FURUHV FURUHV ൘ ൘ ൘ ൘ Dividend of 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDU 2WKHUFRPSUHKHQVLYHLQFRPH UHIHUQRWH 5HIHUQRWHIRUVXPPDU\RIVLJQL¿FDQWDFFRXQWLQJSROLFLHV %DODQFHDVDW0DUFK 3UR¿WIRUWKH\HDU %DODQFHDVDW$SULO %DODQFHDVDW0DUFK Shares issued for exercised options Transfer from special economic zone Transfer UHLQYHVWPHQWUHVHUYH Dividend of Shares issued for exercised options Transfer to special economic zone Transfer UHLQYHVWPHQWUHVHUYH 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDU Transfer from special economic zone Transfer UHLQYHVWPHQWUHVHUYH 2WKHUFRPSUHKHQVLYHLQFRPH UHIHUQRWH Transfer to special economic zone Transfer UHLQYHVWPHQWUHVHUYH %X\EDFNRIHTXLW\VKDUHV UHIHUQRWH ,VVXHRIERQXVVKDUHV UHIHUQRWH 3UR¿WIRUWKH\HDU 6WDQGDORQH6WDWHPHQWRI&KDQJHVLQ(TXLW\IRUWKH\HDUHQGHG 0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWK HUZLVH %DODQFHDVDW$SULO ([SHQVHVRQEX\EDFNRIHTXLW\VKDUHV UHIHUQRWH dividend of dividend of *XUXJUDP,QGLD 0D\ &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU Partner 7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHVWDQGDORQH¿ QDQFLDOVWDWHPHQWV As per our report of even date attached )25%65 &R//3&KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU

$QQXDO5HSRUW 6WDQGDORQH6WDWHPHQWRI&DVKÀRZVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷

B. &DVKÀRZVIURPLQYHVWLQJDFWLYLWLHV Investments in bank deposits Proceeds from bank deposits on maturity Purchase of investments in securities Proceeds from sale/maturity of investments in securities Deposits placed with body corporates Proceeds from maturity of deposits placed with body corporates 3D\PHQWVIRUEXVLQHVVDFTXLVLWLRQVQHWRIFDVKDFTXLUHG 3XUFKDVHRISURSHUW\SODQWDQGHTXLSPHQWDQGLQWDQJLEOHV 3URFHHGVIURPVDOHRISURSHUW\SODQWDQGHTXLSPHQW Investment in the subsidiaries Proceeds from loans extended to group company Dividend received from subsidiaries Interest received Taxes paid 1HWFDVKÀRZIURP XVHG LQLQYHVWLQJDFWLYLWLHV %

C. &DVKÀRZVIURP¿QDQFLQJDFWLYLWLHV Proceeds from long term borrowings Repayment of long term borrowings Proceeds from short term borrowings Repayment of short term borrowings 3D\PHQWVIRUGHIHUUHGFRQVLGHUDWLRQRQEXVLQHVVDFTXLVLWLRQV %X\EDFNRIHTXLW\VKDUHV ([SHQVHVRQEX\EDFNRIHTXLW\VKDUHV Dividend paid Corporate dividend tax Interest paid Payment of lease liabilities including interest 1HWFDVKÀRZXVHGLQ¿QDQFLQJDFWLYLWLHV &

Standalone Financial Statements 6WDQGDORQH6WDWHPHQWRI&DVKÀRZVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷

1RWHV 5HFRQFLOLDWLRQRIOLDELOLWLHVDULVLQJIURP¿QDQFLQJDFWLYLWLHV 1RQFDVKFKDQJHV As at (IIHFWRI As at Cash 5HFRJQL]HG 3DUWLFXODUV 0DUFK Business foreign 0DUFK ÀRZV LQSUR¿WDQG FRPELQDWLRQ FXUUHQF\ loss translation Deferred consideration (including contingent consideration) 578 -

7KHWRWDODPRXQWRILQFRPHWD[HVSDLGLV൘FURUHV 0DUFK൘FURUHV

&DVKDQGFDVKHTXLYDOHQWVLQFOXGH,QYHVWRUHGXFDWLRQDQGSURWHFWLRQIXQGXQFODLPHGGLYLGHQGRI൘FURUHV 0DUFK ൘FURUHV

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

25*$1,=$7,21$1'1$785(2)23(5$7,216

HCL Technologies Limited (hereinafter referred to as “the Company”) is primarily engaged in providing a range of IT and business VHUYLFHVHQJLQHHULQJDQG5 'VHUYLFHVDQGSURGXFWV SODWIRUPVVHUYLFHV7KH&RPSDQ\ZDVLQFRUSRUDWHGXQGHUWKHSURYLVLRQVRI WKH&RPSDQLHV$FWDSSOLFDEOHLQ,QGLDLQ1RYHPEHUKDYLQJLWVUHJLVWHUHGRI¿FHDW6LGGKDUWK1HKUX3ODFH1HZ'HOKL 7KH&RPSDQ\OHYHUDJHVLWVRIIVKRUHLQIUDVWUXFWXUHDQGSURIHVVLRQDOVWRGHOLYHUVROXWLRQVDFURVVVHOHFWYHUWLFDOVLQFOXGLQJ¿QDQFLDO VHUYLFHV PDQXIDFWXULQJ DXWRPRWLYH DHURVSDFH +LWHFK VHPLFRQGXFWRUV OLIH VFLHQFHV KHDOWKFDUH SXEOLF VHUYLFHV RLO DQG JDV HQHUJ\DQGXWLOLW\WUDYHOWUDQVSRUWDQGORJLVWLFV UHWDLODQGFRQVXPHUSURGXFWVWHOHFRPPHGLDSXEOLVKLQJDQGHQWHUWDLQPHQW

7KH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFKZHUHDSSURYHGDQGDXWKRUL]HGIRULVVXHE\WKH%RDUGRI'LUHFWRUVRQ0D\

6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6

D Basis of preparation

7KH ¿QDQFLDO VWDWHPHQWV RI WKH &RPSDQ\ KDYH EHHQ SUHSDUHG LQ DFFRUGDQFH ZLWK UHFRJQLWLRQ DQG PHDVXUHPHQW SULQFLSOHV ODLGGRZQLQ,QGLDQ$FFRXQWLQJ6WDQGDUGV ,QG$6 SUHVFULEHGXQGHUVHFWLRQRIWKH&RPSDQLHV$FWUHDGZLWKWKH &RPSDQLHV ,QGLDQ$FFRXQWLQJ 6WDQGDUGV 5XOHV DV DPHQGHG IURP WLPH WR WLPH DQG SUHVHQWDWLRQ UHTXLUHPHQWV RI 6FKHGXOH,,, 'LYLVLRQ,, WRWKH&RPSDQLHV$FWDVDSSOLFDEOHWRWKH¿QDQFLDOVWDWHPHQWV

7KHVH¿QDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGXQGHUWKHKLVWRULFDOFRVWFRQYHQWLRQRQDQDFFUXDODQGJRLQJFRQFHUQEDVLV except for the following assets and liabilities which have been measured at fair value:

D 'HULYDWLYH¿QDQFLDOLQVWUXPHQWV

E &HUWDLQ¿QDQFLDODVVHWVDQGOLDELOLWLHV UHIHUDFFRXQWLQJSROLF\UHJDUGLQJ¿QDQFLDOLQVWUXPHQWV

7KHDFFRXQWLQJSROLFLHVDGRSWHGLQWKHSUHSDUDWLRQRIWKHVH¿QDQFLDOVWDWHPHQWVDUHFRQVLVWHQWZLWKWKRVHRIWKHSUHYLRXV\HDU H[FHSWZKHUHDQHZO\LVVXHGDFFRXQWLQJVWDQGDUGLVLQLWLDOO\DGRSWHGRUDUHYLVLRQWRDQH[LVWLQJDFFRXQWLQJVWDQGDUGUHTXLUHVD FKDQJHLQWKHDFFRXQWLQJSROLF\

$OODVVHWVDQGOLDELOLWLHVKDYHEHHQFODVVL¿HGDVFXUUHQWDQGQRQFXUUHQWDVSHUWKH&RPSDQ\¶VQRUPDORSHUDWLQJF\FOHRI PRQWKV7KHVWDWHPHQWRIFDVKÀRZVKDVEHHQSUHSDUHGXQGHULQGLUHFWPHWKRG

7KH&RPSDQ\XVHVWKH,QGLDQUXSHH µ`¶ DVLWVUHSRUWLQJFXUUHQF\

E Use of estimates

7KHSUHSDUDWLRQRI¿QDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWK,QG$6UHTXLUHVWKHPDQDJHPHQWWRPDNHHVWLPDWHVDQGDVVXPSWLRQV that affect the reported amounts of assets, liabilities, revenue, expenses and other comprehensive income (OCI) that are UHSRUWHGDQGGLVFORVHGLQWKH¿QDQFLDOVWDWHPHQWVDQGDFFRPSDQ\LQJQRWHV7KHVHHVWLPDWHVDUHEDVHGRQWKHPDQDJHPHQW¶V best knowledge of current events, historical experience, actions that the Company may undertake in the future and on various RWKHUDVVXPSWLRQVWKDWDUHEHOLHYHGWREHUHDVRQDEOHXQGHUWKHFLUFXPVWDQFHV6LJQL¿FDQWHVWLPDWHVDQGDVVXPSWLRQVDUHXVHG IRUEXWQRWOLPLWHGWRDFFRXQWLQJIRUFRVWVH[SHFWHGWREHLQFXUUHGWRFRPSOHWHSHUIRUPDQFHXQGHU¿[HGSULFHSURMHFWVDOORZDQFH IRUXQFROOHFWLEOHDFFRXQWVUHFHLYDEOHVDFFUXDORIZDUUDQW\FRVWVLQFRPHWD[HVYDOXDWLRQRIVKDUHEDVHGFRPSHQVDWLRQIXWXUH REOLJDWLRQVXQGHUHPSOR\HHEHQH¿WSODQVWKHXVHIXOOLYHVRISURSHUW\SODQWDQGHTXLSPHQWLQWDQJLEOHDVVHWVLPSDLUPHQWRI JRRGZLOOWKHPHDVXUHPHQWRIOHDVHOLDELOLWLHVDQGULJKWRIXVHDVVHWVDQGRWKHUFRQWLQJHQFLHVDQGFRPPLWPHQWV&KDQJHVLQ HVWLPDWHVDUHUHÀHFWHGLQWKH¿QDQFLDOVWDWHPHQWVLQWKH\HDULQZKLFKWKHFKDQJHVDUHPDGH$FWXDOUHVXOWVFRXOGGLIIHUIURP WKRVHHVWLPDWHV

F Business combinations and goodwill

$Q\FRQWLQJHQWFRQVLGHUDWLRQWREHWUDQVIHUUHGE\WKHDFTXLUHULVUHFRJQL]HGDWIDLUYDOXHDWWKHDFTXLVLWLRQGDWH&RQWLQJHQW FRQVLGHUDWLRQFODVVL¿HGDV¿QDQFLDOOLDELOLW\LVPHDVXUHGDWIDLUYDOXHZLWKFKDQJHVLQIDLUYDOXHUHFRJQL]HGLQWKHVWDWHPHQWRI SUR¿WDQGORVV

*RRGZLOO LVLQLWLDOO\ PHDVXUHG DWFRVWEHLQJ WKHH[FHVVRIWKHDJJUHJDWH RIWKHFRQVLGHUDWLRQ WUDQVIHUUHG DQG DQ\ SUHYLRXV LQWHUHVWKHOGRYHUWKHQHWLGHQWL¿DEOHDVVHWVDFTXLUHGDQGOLDELOLWLHVDVVXPHG,IWKHIDLUYDOXHRIWKHQHWDVVHWVDFTXLUHGLVLQ excess of the aggregate consideration transferred, the excess is recognized as capital reserve after reassessing the fair values RIWKHQHWDVVHWV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

G Foreign currency and translation

7KH¿QDQFLDOVWDWHPHQWVDUHSUHVHQWHGLQ,QGLDQ5XSHH ` ZKLFKLVDOVRWKH&RPSDQ\¶VIXQFWLRQDOFXUUHQF\)RUHDFKIRUHLJQ RSHUDWLRQWKH&RPSDQ\GHWHUPLQHVWKHIXQFWLRQDOFXUUHQF\ZKLFKLVLWVUHVSHFWLYHORFDOFXUUHQF\

Transactions in foreign currencies are initially recorded by the Company at their respective functional currency spot rates at the GDWHRIWKHWUDQVDFWLRQ)RUHLJQFXUUHQF\GHQRPLQDWHGPRQHWDU\DVVHWVDQGOLDELOLWLHVDUHWUDQVODWHGWRWKHUHOHYDQWIXQFWLRQDO FXUUHQF\DWH[FKDQJHUDWHVLQHIIHFWDWWKHEDODQFHVKHHWGDWH([FKDQJHGLIIHUHQFHVDULVLQJRQVHWWOHPHQWRUWUDQVODWLRQRI PRQHWDU\LWHPVDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV1RQPRQHWDU\DVVHWVDQGQRQPRQHWDU\OLDELOLWLHVGHQRPLQDWHG LQDIRUHLJQFXUUHQF\DQGPHDVXUHGDWKLVWRULFDOFRVWDUHWUDQVODWHGDWWKHH[FKDQJHUDWHSUHYDOHQWDWWKHGDWHRILQLWLDOWUDQVDFWLRQ 1RQPRQHWDU\DVVHWVDQGQRQPRQHWDU\OLDELOLWLHVGHQRPLQDWHGLQDIRUHLJQFXUUHQF\DQGPHDVXUHGDWIDLUYDOXHDUHWUDQVODWHG DWWKHH[FKDQJHUDWHSUHYDOHQWDWWKHGDWHZKHQWKHIDLUYDOXHZDVGHWHUPLQHG

7UDQVDFWLRQJDLQVRUORVVHVUHDOL]HGXSRQVHWWOHPHQWRIIRUHLJQFXUUHQF\WUDQVDFWLRQVDUHLQFOXGHGLQGHWHUPLQLQJQHWSUR¿WIRU WKH\HDU5HYHQXHH[SHQVHVDQGFDVKÀRZLWHPVGHQRPLQDWHGLQIRUHLJQFXUUHQFLHVDUHWUDQVODWHGLQWRWKHUHOHYDQWIXQFWLRQDO FXUUHQFLHVXVLQJWKHH[FKDQJHUDWHLQHIIHFWRQWKHGDWHRIWKHWUDQVDFWLRQ

The translation of foreign operations from respective functional currency into INR (the reporting currency) for assets and OLDELOLWLHVLVSHUIRUPHGXVLQJWKHH[FKDQJHUDWHVLQHIIHFWDWWKHEDODQFHVKHHWGDWHDQGIRUUHYHQXHH[SHQVHVDQGFDVKÀRZV LVSHUIRUPHGXVLQJDQDSSURSULDWHGDLO\ZHLJKWHGDYHUDJHH[FKDQJHUDWHIRUWKHUHVSHFWLYH\HDUV7KHH[FKDQJHGLIIHUHQFHV DULVLQJRQWUDQVODWLRQDUHUHSRUWHGDVDFRPSRQHQWRIµRWKHUFRPSUHKHQVLYHLQFRPH ORVV ¶2QGLVSRVDORIDIRUHLJQRSHUDWLRQ WKHFRPSRQHQWRI2&,UHODWLQJWRWKDWSDUWLFXODUIRUHLJQRSHUDWLRQLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

H Fair value measurement

7KH&RPSDQ\UHFRUGVFHUWDLQ¿QDQFLDODVVHWVDQGOLDELOLWLHVDWIDLUYDOXHRQDUHFXUULQJEDVLV7KH&RPSDQ\GHWHUPLQHVIDLU values based on the price it would receive to sell an asset or pay to transfer a liability in an orderly transaction between market SDUWLFLSDQWVDWWKHPHDVXUHPHQWGDWHLQWKHSULQFLSDORUPRVWDGYDQWDJHRXVPDUNHWIRUWKDWDVVHWRUOLDELOLW\

7KH&RPSDQ\KROGVFHUWDLQ¿[HGLQFRPHVHFXULWLHVHTXLW\VHFXULWLHVDQGGHULYDWLYHVZKLFKPXVWEHPHDVXUHGXVLQJWKHJXLGDQFH IRUIDLUYDOXHKLHUDUFK\DQGUHODWHGYDOXDWLRQPHWKRGRORJLHV7KHJXLGDQFHVSHFL¿HVDKLHUDUFK\RIYDOXDWLRQWHFKQLTXHVEDVHG RQZKHWKHUWKHLQSXWVWRHDFKPHDVXUHPHQWDUHREVHUYDEOHRUXQREVHUYDEOH2EVHUYDEOHLQSXWVUHÀHFWPDUNHWGDWDREWDLQHG IURPLQGHSHQGHQWVRXUFHVZKLOHXQREVHUYDEOHLQSXWVUHÀHFWWKH&RPSDQ\¶VDVVXPSWLRQVDERXWFXUUHQWPDUNHWFRQGLWLRQV7KH IDLUYDOXHKLHUDUFK\DOVRUHTXLUHVDQHQWLW\WRPD[LPL]HWKHXVHRIREVHUYDEOHLQSXWVDQGPLQLPL]HWKHXVHRIXQREVHUYDEOHLQSXWV ZKHQPHDVXULQJIDLUYDOXH7KHSUHVFULEHGIDLUYDOXHKLHUDUFK\DQGUHODWHGYDOXDWLRQPHWKRGRORJLHVDUHDVIROORZV

/HYHO4XRWHGLQSXWVWKDWUHÀHFWTXRWHGSULFHV XQDGMXVWHG IRULGHQWLFDODVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWV

/HYHO4XRWHGSULFHVIRUVLPLODULQVWUXPHQWVLQDFWLYHPDUNHWVTXRWHGSULFHVIRULGHQWLFDORUVLPLODULQVWUXPHQWVLQPDUNHWVWKDW DUHQRWDFWLYHDQGPRGHOGHULYHGYDOXDWLRQVLQZKLFKDOOVLJQL¿FDQWLQSXWVDUHGLUHFWO\RULQGLUHFWO\REVHUYDEOHLQDFWLYHPDUNHWV

/HYHO9DOXDWLRQVGHULYHGIURPYDOXDWLRQWHFKQLTXHVLQZKLFKRQHRUPRUHVLJQL¿FDQWLQSXWVDUHXQREVHUYDEOHLQSXWVZKLFK DUHVXSSRUWHGE\OLWWOHRUQRPDUNHWDFWLYLW\

,QDFFRUGDQFHZLWK,QG$6DVVHWVDQGOLDELOLWLHVDUHWREHPHDVXUHGEDVHGRQWKHIROORZLQJYDOXDWLRQWHFKQLTXHV

D 0DUNHWDSSURDFK±3ULFHVDQGRWKHUUHOHYDQWLQIRUPDWLRQJHQHUDWHGE\PDUNHWWUDQVDFWLRQVLQYROYLQJLGHQWLFDORUFRPSDUDEOH DVVHWVRUOLDELOLWLHV (b) Income approach – Converting the future amounts based on market expectations to its present value using the discounting PHWKRG F &RVWDSSURDFK±5HSODFHPHQWFRVWPHWKRG

&HUWDLQDVVHWVDUHPHDVXUHGDWIDLUYDOXHRQDQRQUHFXUULQJEDVLV7KHVHDVVHWVFRQVLVWSULPDULO\RIQRQ¿QDQFLDODVVHWVVXFK DVJRRGZLOODQGLQWDQJLEOHDVVHWV*RRGZLOODQGLQWDQJLEOHDVVHWVUHFRJQL]HGLQEXVLQHVVFRPELQDWLRQVDUHPHDVXUHGDWIDLU YDOXHLQLWLDOO\DQGVXEVHTXHQWO\ZKHQWKHUHLVDQLQGLFDWRURILPSDLUPHQWWKHLPSDLUPHQWLVUHFRJQL]HG

$IDLUYDOXHPHDVXUHPHQWRIDQRQ¿QDQFLDODVVHWWDNHVLQWRDFFRXQWDPDUNHWSDUWLFLSDQW¶VDELOLW\WRJHQHUDWHHFRQRPLFEHQH¿WV by using the asset in its highest and best use or by selling it to another market participant who would use the asset in its highest DQGEHVWXVH

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

I Revenue recognition

&RQWUDFWVLQYROYLQJSURYLVLRQRIVHUYLFHVDQGPDWHULDO

5HYHQXHLVUHFRJQL]HGZKHQRUDVFRQWURORIDSURPLVHGVHUYLFHRUJRRGWUDQVIHUVWRDFXVWRPHULQDQDPRXQWWKDWUHÀHFWVWKH FRQVLGHUDWLRQWRZKLFKWKH&RPSDQ\H[SHFWVWREHHQWLWOHGLQH[FKDQJHIRUWUDQVIHUULQJWKRVHSURGXFWVRUVHUYLFHV7RUHFRJQL]H UHYHQXHVWKHIROORZLQJ¿YHVWHSDSSURDFKLVDSSOLHG LGHQWLI\WKHFRQWUDFWZLWKDFXVWRPHU LGHQWLI\WKHSHUIRUPDQFH REOLJDWLRQVLQWKHFRQWUDFW GHWHUPLQHWKHWUDQVDFWLRQSULFH DOORFDWHWKHWUDQVDFWLRQSULFHWRWKHSHUIRUPDQFHREOLJDWLRQV LQWKHFRQWUDFWDQG UHFRJQL]HUHYHQXHVZKHQDSHUIRUPDQFHREOLJDWLRQLVVDWLV¿HG$FRQWUDFWLVDFFRXQWHGZKHQLWLVOHJDOO\ HQIRUFHDEOH WKURXJK H[HFXWRU\ FRQWUDFWV DSSURYDO DQG FRPPLWPHQW IURP DOO SDUWLHV WKH ULJKWV RI WKH SDUWLHV DUH LGHQWL¿HG SD\PHQWWHUPVDUHGH¿QHGWKHFRQWUDFWKDVFRPPHUFLDOVXEVWDQFHDQGFROOHFWDELOLW\RIFRQVLGHUDWLRQLVSUREDEOH

7LPHDQGPDWHULDO9ROXPHEDVHG7UDQVDFWLRQEDVHGFRQWUDFWV

5HYHQXHZLWKUHVSHFWWRWLPHDQGPDWHULDOYROXPHEDVHGDQGWUDQVDFWLRQEDVHGFRQWUDFWVLVUHFRJQL]HGDVWKHUHODWHGVHUYLFHV DUHSHUIRUPHGWKURXJKHIIRUWVH[SHQGHGYROXPHVHUYLFHGWUDQVDFWLRQVDUHSURFHVVHGHWFWKDWFRUUHVSRQGZLWKYDOXHWUDQVIHUUHG WRFXVWRPHUWLOOGDWHZKLFKLVUHODWHGWRRXUULJKWWRLQYRLFHIRUVHUYLFHVSHUIRUPHG

)L[HG3ULFHFRQWUDFWV

5HYHQXH UHODWHG WR ¿[HG SULFH FRQWUDFWV ZKHUH SHUIRUPDQFH REOLJDWLRQV DQG FRQWURO DUH VDWLV¿HG RYHU D SHULRG RI WLPH OLNH technology integration, complex network building contracts, ERP implementations and Application development are recognized EDVHGRQSURJUHVVWRZDUGVFRPSOHWLRQRIWKHSHUIRUPDQFHREOLJDWLRQXVLQJDFRVWWRFRVWPHDVXUHRISURJUHVV LHSHUFHQWDJH RIFRPSOHWLRQ 32& PHWKRGRIDFFRXQWLQJ 5HYHQXHLVUHFRJQL]HGEDVHGRQWKHFRVWVLQFXUUHGWRGDWHDVDSHUFHQWDJHRIWKH WRWDOHVWLPDWHGFRVWVWRIXO¿OOWKHFRQWUDFW$Q\UHYLVLRQLQFRVWWRFRPSOHWHZRXOGUHVXOWLQLQFUHDVHRUGHFUHDVHLQUHYHQXHDQG VXFKFKDQJHVDUHUHFRUGHGLQWKHSHULRGLQZKLFKWKH\DUHLGHQWL¿HG3URYLVLRQVIRUHVWLPDWHGORVVHVLIDQ\RQFRQWUDFWVLQ SURJUHVVDUHUHFRUGHGLQWKHSHULRGLQZKLFKVXFKORVVHVEHFRPHSUREDEOHEDVHGRQWKHFXUUHQWFRQWUDFWHVWLPDWHV&RQWUDFW losses are determined to be the amount by which the estimated incremental cost to complete exceeds the estimated future UHYHQXHVWKDWZLOOEHJHQHUDWHGE\WKHFRQWUDFWDQGDUHLQFOXGHGLQFRVWRIUHYHQXHVDQGUHFRUGHGLQRWKHUDFFUXHGOLDELOLWLHV

5HYHQXHUHODWHGWRRWKHU¿[HGSULFHFRQWUDFWVSURYLGLQJPDLQWHQDQFHDQGVXSSRUWVHUYLFHVDUHUHFRJQL]HGEDVHGRQRXUULJKWWR LQYRLFHIRUVHUYLFHVSHUIRUPHGIRUFRQWUDFWVLQZKLFKWKHLQYRLFLQJLVUHSUHVHQWDWLYHRIWKHYDOXHEHLQJGHOLYHUHG,IRXULQYRLFLQJ is not consistent with value delivered, revenues are recognized as the service is performed based on the cost to cost method GHVFULEHGDERYH

,QDUUDQJHPHQWVLQYROYLQJVKDULQJRIFXVWRPHUUHYHQXHVUHYHQXHLVUHFRJQL]HGZKHQWKHULJKWWRUHFHLYHLVHVWDEOLVKHG

5HYHQXHIURPSURGXFWVDOHVDUHVKRZQQHWRIDSSOLFDEOHWD[HVGLVFRXQWVDQGDOORZDQFHV5HYHQXHUHODWHGWRSURGXFWZLWK installation services that are critical to the product is recognized when installation of product at customer site is completed and DFFHSWHGE\WKHFXVWRPHU,IWKHUHYHQXHIRUDGHOLYHUHGLWHPLVQRWUHFRJQL]HGIRUQRQUHFHLSWRIDFFHSWDQFHIURPWKHFXVWRPHU WKHFRVWRIWKHGHOLYHUHGLWHPFRQWLQXHVWREHLQLQYHQWRU\

3URSULHWDU\6RIWZDUHSURGXFWV

Revenue from distinct proprietary perpetual license software is recognized at a point in time at the inception of the arrangement ZKHQFRQWUROWUDQVIHUVWRWKHFOLHQW5HYHQXHIURPSURSULHWDU\WHUPOLFHQVHVRIWZDUHLVUHFRJQL]HGDWDSRLQWLQWLPHIRUWKH FRPPLWWHGWHUPRIWKHFRQWUDFW5HYHQXHIURPVXSSRUWDQGVXEVFULSWLRQ 6 6 LVUHFRJQL]HGRYHUWKHFRQWUDFWWHUPRQDVWUDLJKW OLQHEDVLVDVWKHFRPSDQ\LVSURYLGLQJDVHUYLFHRIVWDQGLQJUHDG\WRSURYLGHVXSSRUWZKHQDQGLIQHHGHGDQGLVSURYLGLQJ XQVSHFL¿HGVRIWZDUHXSJUDGHVRQDZKHQDQGLIDYDLODEOHEDVLVRYHUWKHFRQWUDFWWHUP,QFDVHVRIWZDUHDUHEXQGOHGZLWKRQH year of support and subscription either for perpetual or term based license, such support and subscription contracts are generally priced as a percentage of the net fees paid by the customer to purchase the license and are generally recognized as revenues UDWDEO\RYHUWKHFRQWUDFWXDOSHULRGWKDWWKHVXSSRUWVHUYLFHVDUHSURYLGHG

0XOWLSOHSHUIRUPDQFHREOLJDWLRQ

:KHQ D VDOHV DUUDQJHPHQW FRQWDLQV PXOWLSOH SHUIRUPDQFH VXFK DV VHUYLFHV KDUGZDUH DQG /LFHQVHG ,3V VRIWZDUH RU FRPELQDWLRQVRIHDFKRIWKHPUHYHQXHIRUHDFKHOHPHQWLVEDVHGRQD¿YHVWHSDSSURDFKDVGH¿QHGDERYH7RWKHH[WHQWD FRQWUDFWLQFOXGHVPXOWLSOHSURPLVHGGHOLYHUDEOHVMXGJPHQWLVDSSOLHGWRGHWHUPLQHZKHWKHUSURPLVHGGHOLYHUDEOHVDUHFDSDEOHRI EHLQJGLVWLQFWDQGDUHGLVWLQFWLQWKHFRQWH[WRIWKHFRQWUDFW,IWKHVHFULWHULDDUHQRWPHWWKHSURPLVHGGHOLYHUDEOHVDUHDFFRXQWHG IRUDVDFRPELQHGSHUIRUPDQFHREOLJDWLRQ)RUDUUDQJHPHQWVZLWKPXOWLSOHGLVWLQFWSHUIRUPDQFHREOLJDWLRQVRUVHULHVRIGLVWLQFW performance obligations, consideration is allocated among the performance obligations based on their relative standalone selling SULFH6WDQGDORQHVHOOLQJSULFHLVWKHSULFHDWZKLFKFRPSDQ\ZRXOGVHOODSURPLVHGJRRGRUVHUYLFHVHSDUDWHO\WRWKHFXVWRPHU :KHQQRWGLUHFWO\REVHUYDEOHZHHVWLPDWHVWDQGDORQHVHOOLQJSULFHE\XVLQJWKHH[SHFWHGFRVWSOXVDPDUJLQDSSURDFK:H establish a standalone selling price range for our deliverables, which is reassessed on a periodic basis or when facts and

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

FLUFXPVWDQFHVFKDQJH,IWKHDUUDQJHPHQWFRQWDLQVREOLJDWLRQVUHODWHGWR/LFHQVHRI,QWHOOHFWXDOSURSHUW\ 6RIWZDUH RU/HDVH deliverable, the arrangement consideration allocated to the Software deliverables, lease deliverable as a group is then allocated WRHDFKVRIWZDUHREOLJDWLRQDQGOHDVHGHOLYHUDEOH

Revenue recognition for delivered elements is limited to the amount that is not contingent on the future delivery of products or VHUYLFHVIXWXUHSHUIRUPDQFHREOLJDWLRQVRUVXEMHFWWRFXVWRPHUVSHFL¿HGUHWXUQRUUHIXQGSULYLOHJHV

Revenue from certain activities in transition services in outsourcing arrangements are not capable of being distinct or represent VHSDUDWH SHUIRUPDQFH REOLJDWLRQ 5HYHQXHV UHODWLQJ WR VXFK WUDQVLWLRQ DFWLYLWLHV DUH FODVVL¿HG DV &RQWUDFW OLDELOLWLHV DQG VXEVHTXHQWO\UHFRJQL]HGRYHUWKHSHULRGRIWKHDUUDQJHPHQW'LUHFWDQGLQFUHPHQWDOFRVWVLQUHODWLRQWRVXFKWUDQVLWLRQDFWLYLWLHV which are expected to be recoverable under the contract and generate or enhance resources of the Company that will be used in VDWLVI\LQJWKHSHUIRUPDQFHREOLJDWLRQLQWKHIXWXUHDUHFRQVLGHUHGDVFRQWUDFWIXO¿OOPHQWFRVWVFODVVL¿HGDV'HIHUUHGFRQWUDFWFRVW DQGUHFRJQL]HGRYHUWKHSHULRGRIDUUDQJHPHQW&HUWDLQXSIURQWQRQUHFXUULQJLQFUHPHQWDOFRQWUDFWDFTXLVLWLRQFRVWVDQGRWKHU XSIURQWIHHSDLGWRFXVWRPHUDUHGHIHUUHGDQGFODVVL¿HGDV'HIHUUHGFRQWUDFWFRVWDQGDPRUWL]HGWRUHYHQXHRUFRVWXVXDOO\RQ DVWUDLJKWOLQHEDVLVRYHUWKHWHUPRIWKHFRQWUDFWXQOHVVUHYHQXHVDUHHDUQHGDQGREOLJDWLRQVDUHIXO¿OOHGLQDGLIIHUHQWSDWWHUQ 7KHXQGLVFRXQWHGIXWXUHFDVKÀRZVIURPWKHDUUDQJHPHQWDUHSHULRGLFDOO\HVWLPDWHGDQGFRPSDUHGZLWKWKHXQDPRUWL]HGFRVWV ,IWKHXQDPRUWL]HGFRVWVH[FHHGWKHXQGLVFRXQWHGFDVKÀRZDORVVLVUHFRJQL]HG

,QLQVWDQFHVZKHQUHYHQXHLVGHULYHGIURPVDOHVRIWKLUGSDUW\YHQGRUVHUYLFHVPDWHULDORUOLFHQVHVUHYHQXHLVUHFRUGHGRQ a gross basis when the Company is a principal to the transaction and net of costs when the Company is acting as an agent EHWZHHQWKHFXVWRPHUDQGWKHYHQGRU6HYHUDOIDFWRUVDUHFRQVLGHUHGWRGHWHUPLQHZKHWKHUWKH&RPSDQ\LVDSULQFLSDORUDQ agent, most notably being company control the goods or service before it is transferred to customer, latitude in deciding the SULFHEHLQJFKDUJHGWRFXVWRPHU5HYHQXHLVUHFRJQL]HGQHWRIGLVFRXQWVDQGDOORZDQFHVYDOXHDGGHGDQGVHUYLFHWD[HVDQG LQFOXGHVUHLPEXUVHPHQWRIRXWRISRFNHWH[SHQVHVZLWKWKHFRUUHVSRQGLQJRXWRISRFNHWH[SHQVHVLQFOXGHGLQFRVWRIUHYHQXHV

9ROXPHGLVFRXQWVRUDQ\RWKHUIRUPRIYDULDEOHFRQVLGHUDWLRQLVHVWLPDWHGXVLQJHLWKHUWKHVXPRISUREDELOLW\ZHLJKWHGDPRXQWVLQ a range of possible consideration amounts (expected value), or the single most likely amount in a range of possible consideration DPRXQWV PRVWOLNHO\DPRXQW GHSHQGLQJRQZKLFKPHWKRGEHWWHUSUHGLFWVWKHDPRXQWRIFRQVLGHUDWLRQUHDOL]DEOH7UDQVDFWLRQ SULFHLQFOXGHVYDULDEOHFRQVLGHUDWLRQRQO\WRWKHH[WHQWLWLVSUREDEOHWKDWDVLJQL¿FDQWUHYHUVDORIUHYHQXHVUHFRJQL]HGZLOOQRW RFFXUZKHQWKHXQFHUWDLQW\DVVRFLDWHGZLWKWKHYDULDEOHFRQVLGHUDWLRQLVUHVROYHG2XUHVWLPDWHVRIYDULDEOHFRQVLGHUDWLRQDQG GHWHUPLQDWLRQRIZKHWKHUWRLQFOXGHHVWLPDWHGDPRXQWVLQWKHWUDQVDFWLRQSULFHPD\LQYROYHMXGJPHQWDQGDUHEDVHGODUJHO\RQ DQDVVHVVPHQWRIRXUDQWLFLSDWHGSHUIRUPDQFHDQGDOOLQIRUPDWLRQWKDWLVUHDVRQDEO\DYDLODEOHWRXV

5HYHQXHUHFRJQL]HGEXWQRWELOOHGWRFXVWRPHUVLVFODVVL¿HGHLWKHUDVFRQWUDFWDVVHWVRUXQELOOHGUHFHLYDEOHLQRXUVWDWHPHQWV RI¿QDQFLDOSRVLWLRQFRQWUDFWDVVHWVSULPDULO\UHODWHWRXQELOOHGDPRXQWVRQWKRVHFRQWUDFWVXWLOL]LQJWKHFRVWWRFRVWPHWKRG RIUHYHQXHUHFRJQLWLRQDQGULJKWWRFRQVLGHUDWLRQLVQRWXQFRQGLWLRQDO8QELOOHGUHFHLYDEOHVUHSUHVHQWFRQWUDFWVZKHUHULJKWWR FRQVLGHUDWLRQLVXQFRQGLWLRQDO LHRQO\WKHSDVVDJHRIWLPHLVUHTXLUHGEHIRUHWKHSD\PHQWLVGXH

5HYHQXHIURPVDOHVW\SHOHDVHVLVUHFRJQL]HGZKHQULVNRIORVVKDVEHHQWUDQVIHUUHGWRWKHFOLHQWDQGWKHUHDUHQRXQIXO¿OOHGREOLJDWLRQV WKDWDIIHFWWKH¿QDODFFHSWDQFHRIWKHDUUDQJHPHQWE\WKHFOLHQW,QWHUHVWDWWULEXWDEOHWRVDOHVW\SHOHDVHVDQGGLUHFW¿QDQFLQJOHDVHV LQFOXGHGWKHUHLQLVUHFRJQL]HGRQDQDFFUXDOEDVLVXVLQJWKHHIIHFWLYHLQWHUHVWPHWKRGDQGLVUHFRJQL]HGDVRWKHULQFRPH

,QWHUHVWLQFRPH

,QWHUHVWLQFRPHIRUDOO¿QDQFLDOLQVWUXPHQWVPHDVXUHGDWDPRUWL]HGFRVWLVUHFRUGHGXVLQJWKHHIIHFWLYHLQWHUHVWUDWH (,5 (,5LV WKHUDWHWKDWH[DFWO\GLVFRXQWVWKHHVWLPDWHGIXWXUHFDVKSD\PHQWVRUUHFHLSWVRYHUWKHH[SHFWHGOLIHRIWKH¿QDQFLDOLQVWUXPHQW RUDVKRUWHUSHULRGZKHUHDSSURSULDWHWRWKHJURVVFDUU\LQJDPRXQWRIWKH¿QDQFLDODVVHWRUWRWKHDPRUWL]HGFRVWRID¿QDQFLDO OLDELOLW\:KHQFDOFXODWLQJWKH(,5WKH&RPSDQ\HVWLPDWHVWKHH[SHFWHGFDVKÀRZVE\FRQVLGHULQJDOOWKHFRQWUDFWXDOWHUPV RIWKH¿QDQFLDOLQVWUXPHQWEXWGRHVQRWFRQVLGHUWKHH[SHFWHGFUHGLWORVVHV,QWHUHVWLQFRPHLVLQFOXGHGLQRWKHULQFRPHLQWKH VWDWHPHQWRISUR¿WDQGORVV

J Income taxes

,QFRPHWD[H[SHQVHFRPSULVHVFXUUHQWDQGGHIHUUHGLQFRPHWD[

,QFRPHWD[H[SHQVHLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVH[FHSWWRWKHH[WHQWWKDWLWUHODWHVWRLWHPVUHFRJQL]HGGLUHFWO\LQ HTXLW\LQZKLFKFDVHLWLVUHFRJQL]HGLQHTXLW\&XUUHQWLQFRPHWD[IRUFXUUHQWDQGSULRUSHULRGVLVUHFRJQL]HGDWWKHDPRXQWH[SHFWHG to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted or substantively enacted E\WKHEDODQFHVKHHWGDWH3URYLVLRQIRULQFRPHWD[LQFOXGHVWKHLPSDFWRISURYLVLRQVHVWDEOLVKHGIRUXQFHUWDLQLQFRPHWD[SRVLWLRQV

Deferred income tax assets and liabilities recognized for all temporary differences arising between the tax bases of assets and OLDELOLWLHVDQGWKHLUFDUU\LQJDPRXQWVLQWKH¿QDQFLDOVWDWHPHQWV'HIHUUHGLQFRPHWD[DVVHWVDQGOLDELOLWLHVDUHUHFRJQL]HGIRU WKRVHWHPSRUDU\GLIIHUHQFHVZKLFKRULJLQDWHGXULQJWKHWD[KROLGD\SHULRGDUHUHYHUVHGDIWHUWKHWD[KROLGD\SHULRG)RUWKLV SXUSRVHUHYHUVDORIWLPLQJGLIIHUHQFHVLVGHWHUPLQHGXVLQJ¿UVWLQ¿UVWRXWPHWKRG

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the UHODWHGWD[EHQH¿WZLOOEHUHDOL]HG'HIHUUHGLQFRPHWD[DVVHWVDQGOLDELOLWLHVDUHPHDVXUHGXVLQJWD[UDWHVDQGWD[ODZVWKDWKDYH been enacted or substantively enacted by the balance sheet date and are expected to apply to taxable income in the years in ZKLFKWKRVHWHPSRUDU\GLIIHUHQFHVDUHH[SHFWHGWREHUHFRYHUHGRUVHWWOHG

Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against FXUUHQWWD[OLDELOLWLHVDQGWKHGHIHUUHGWD[HVUHODWHWRWKHVDPHWD[DEOHHQWLW\DQGWKHVDPHWD[DWLRQDXWKRULW\

The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the year WKDWLQFOXGHVWKHHQDFWPHQWRUWKHVXEVWDQWLYHHQDFWPHQWGDWH$GHIHUUHGLQFRPHWD[DVVHWLVUHFRJQL]HGWRWKHH[WHQWWKDWLW LVSUREDEOHWKDWIXWXUHWD[DEOHSUR¿WZLOOEHDYDLODEOHDJDLQVWZKLFKWKHGHGXFWLEOHWHPSRUDU\GLIIHUHQFHVDQGWD[ORVVHVFDQEH XWLOL]HG'HIHUUHGLQFRPHWD[HVDUHQRWSURYLGHGRQWKHXQGLVWULEXWHGHDUQLQJVRIEUDQFKHVZKHUHLWLVH[SHFWHGWKDWWKHHDUQLQJV RIWKHEUDQFKZLOOQRWEHGLVWULEXWHGLQWKHIRUHVHHDEOHIXWXUH

7D[EHQH¿WVDFTXLUHGDVSDUWRIDEXVLQHVVFRPELQDWLRQEXWQRWVDWLVI\LQJWKHFULWHULDIRUVHSDUDWHUHFRJQLWLRQDWWKDWGDWH DUHUHFRJQL]HGVXEVHTXHQWO\LIQHZLQIRUPDWLRQDERXWIDFWVDQGFLUFXPVWDQFHVFKDQJH7KHDGMXVWPHQWLVHLWKHUWUHDWHGDVD reduction in goodwill (as long as it does not exceed goodwill) if it was incurred during the measurement period or recognized in WKHVWDWHPHQWRISUR¿WDQGORVV

K Property, plant and equipment

3URSHUW\SODQWDQGHTXLSPHQWDUHVWDWHGDWFRVWOHVVDFFXPXODWHGGHSUHFLDWLRQDQGLPSDLUPHQWORVVHVLIDQ\&RVWFRPSULVHV WKHSXUFKDVHSULFHDQGGLUHFWO\DWWULEXWDEOHFRVWRIEULQJLQJWKHDVVHWWRLWVZRUNLQJFRQGLWLRQIRULWVLQWHQGHGXVH$Q\WUDGH GLVFRXQWVDQGUHEDWHVDUHGHGXFWHGLQDUULYLQJDWWKHSXUFKDVHSULFH7KH&RPSDQ\LGHQWL¿HVDQGGHWHUPLQHVVHSDUDWHXVHIXO OLYHVIRUHDFKPDMRUFRPSRQHQWRIWKHSURSHUW\SODQWDQGHTXLSPHQWLIWKH\KDYHDXVHIXOOLIHWKDWLVPDWHULDOO\GLIIHUHQWIURP WKDWRIWKHDVVHWDVDZKROH

([SHQVHVRQH[LVWLQJSURSHUW\SODQWDQGHTXLSPHQWLQFOXGLQJGD\WRGD\UHSDLUVPDLQWHQDQFHH[SHQGLWXUHDQGFRVWRIUHSODFLQJ SDUWVDUHFKDUJHGWRWKHVWDWHPHQWRISUR¿WDQGORVVIRUWKH\HDUGXULQJZKLFKVXFKH[SHQVHVDUHLQFXUUHG

*DLQVRUORVVHVDULVLQJIURPGHUHFRJQLWLRQRIDVVHWVDUHPHDVXUHGDVWKHGLIIHUHQFHEHWZHHQWKHQHWGLVSRVDOSURFHHGVDQGWKH FDUU\LQJDPRXQWRIWKHDVVHWDQGDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVZKHQWKHDVVHWLVGHUHFRJQL]HG

3URSHUW\SODQWDQGHTXLSPHQWXQGHUFRQVWUXFWLRQDQGFRVWRIDVVHWVQRWUHDG\IRUXVHDWWKH\HDUHQGDUHGLVFORVHGDVFDSLWDO ZRUNLQSURJUHVV

'HSUHFLDWLRQ RQ SURSHUW\ SODQW DQG HTXLSPHQW LV SURYLGHG RQ WKH VWUDLJKWOLQH PHWKRG RYHU WKHLU HVWLPDWHG XVHIXO OLYHV DV GHWHUPLQHGE\WKHPDQDJHPHQW'HSUHFLDWLRQLVFKDUJHGRQDSURUDWDEDVLVIRUDVVHWVSXUFKDVHGVROGGXULQJWKH\HDU

7KHPDQDJHPHQW¶VHVWLPDWHVRIWKHXVHIXOOLYHVRIYDULRXVDVVHWVIRUFRPSXWLQJGHSUHFLDWLRQDUHDVIROORZV $VVHWGHVFULSWLRQ $VVHWOLIH LQ\HDUV %XLOGLQJV 3ODQWDQGHTXLSPHQW LQFOXGLQJDLUFRQGLWLRQHUVHOHFWULFDOLQVWDOODWLRQV 2I¿FHHTXLSPHQW 5 &RPSXWHUVDQGQHWZRUNLQJHTXLSPHQW )XUQLWXUHDQG¿[WXUHV 7 9HKLFOHV 5 The useful lives as given above best represent the period over which the management expects to use these assets, based on WHFKQLFDODVVHVVPHQW7KHHVWLPDWHGXVHIXOOLYHVIRUWKHVHDVVHWVDUHWKHUHIRUHGLIIHUHQWIURPWKHXVHIXOOLYHVSUHVFULEHGXQGHU 3DUW&RI6FKHGXOH,,RIWKH&RPSDQLHV$FW

7KHUHVLGXDOYDOXHVXVHIXOOLYHVDQGPHWKRGVRIGHSUHFLDWLRQRISURSHUW\SODQWDQGHTXLSPHQWDUHUHYLHZHGDWHDFK¿QDQFLDO \HDUHQGDQGDGMXVWHGSURVSHFWLYHO\LIDSSURSULDWH

L Intangible assets

,QWDQJLEOH DVVHWV DFTXLUHG VHSDUDWHO\ DUH PHDVXUHG RQ LQLWLDO UHFRJQLWLRQ DW FRVW7KH FRVW RI LQWDQJLEOH DVVHWV DFTXLUHG LQ DEXVLQHVVFRPELQDWLRQLVPHDVXUHGDWWKHLUIDLUYDOXHDWWKHGDWHRIDFTXLVLWLRQ6XEVHTXHQWO\IROORZLQJLQLWLDOUHFRJQLWLRQ LQWDQJLEOHDVVHWVDUHFDUULHGDWFRVWOHVVDQ\DFFXPXODWHGDPRUWL]DWLRQDQGDFFXPXODWHGLPSDLUPHQWORVVHV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

XVHIXOOLIHDUHUHYLHZHGDWOHDVWDWWKHHQGRIHDFKUHSRUWLQJ\HDU&KDQJHVLQWKHH[SHFWHGXVHIXOOLIHRUWKHH[SHFWHGSDWWHUQRI FRQVXPSWLRQRIIXWXUHHFRQRPLFEHQH¿WVHPERGLHGLQWKHDVVHWDUHFRQVLGHUHGWRPRGLI\WKHDPRUWL]DWLRQSHULRGRUPHWKRGDV DSSURSULDWHDQGDUHWUHDWHGDVFKDQJHVLQDFFRXQWLQJHVWLPDWHV7KHDPRUWL]DWLRQH[SHQVHRQLQWDQJLEOHDVVHWVZLWK¿QLWHOLYHV LVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

*DLQVRUORVVHVDULVLQJIURPGHUHFRJQLWLRQRIDQLQWDQJLEOHDVVHWDUHPHDVXUHGDVWKHGLIIHUHQFHEHWZHHQWKHQHWGLVSRVDOSURFHHGV DQGWKHFDUU\LQJDPRXQWRIWKHDVVHWDQGDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVZKHQWKHDVVHWLVGHUHFRJQL]HG

The intangible assets are amortized over the estimated useful life of the assets as mentioned below except certain Licensed ,35VZKLFKLQFOXGHWKHULJKWWRPRGLI\HQKDQFHRUH[SORLWDUHDPRUWL]HGLQSURSRUWLRQWRWKHH[SHFWHGEHQH¿WVRYHUWKHXVHIXO OLIHZKLFKFRXOGUDQJHXSWR\HDUV

$VVHWGHVFULSWLRQ $VVHWOLIH LQ\HDUV Software Licensed IPRs WR Customer relationships WR Customer contracts Technology WR Intellectual property rights

M Research and development costs

5HVHDUFKFRVWVDUHH[SHQVHGDVLQFXUUHG'HYHORSPHQWH[SHQGLWXUHRQDQLQGLYLGXDOSURMHFWLVUHFRJQL]HGDVDQLQWDQJLEOH asset when the Company can demonstrate: x The technical feasibility of completing the intangible asset so that it will be available for use or sale x Its intention to complete and its ability and intention to use or sell the asset x +RZWKHDVVHWZLOOJHQHUDWHIXWXUHHFRQRPLFEHQH¿WV x The availability of resources to complete the asset x The ability to measure reliably the expenditure during development

6XEVHTXHQWO\IROORZLQJLQLWLDOUHFRJQLWLRQRIWKHGHYHORSPHQWH[SHQGLWXUHDVDQDVVHWWKHFRVWPRGHOLVDSSOLHGUHTXLULQJWKH DVVHWWREHFDUULHGDWFRVWOHVVDQ\DFFXPXODWHGDPRUWL]DWLRQDQGDFFXPXODWHGLPSDLUPHQWORVVHV$PRUWL]DWLRQRIWKHDVVHW EHJLQVZKHQGHYHORSPHQWLVFRPSOHWHDQGWKHDVVHWLVDYDLODEOHIRUXVH,WLVDPRUWL]HGRYHUWKHSHULRGRIH[SHFWHGIXWXUH EHQH¿W$PRUWL]DWLRQH[SHQVHLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV'XULQJWKHSHULRGRIGHYHORSPHQWWKHDVVHWLV WHVWHGIRULPSDLUPHQWDQQXDOO\

N Borrowing costs

%RUURZLQJFRVWVGLUHFWO\DWWULEXWDEOHWRWKHDFTXLVLWLRQFRQVWUXFWLRQRUSURGXFWLRQRIDQDVVHWWKDWQHFHVVDULO\WDNHVDVXEVWDQWLDO SHULRGRIWLPHWRJHWUHDG\IRULWVLQWHQGHGXVHDUHFDSLWDOL]HGDVSDUWRIWKHFRVWRIWKHDVVHW$OORWKHUERUURZLQJFRVWVDUH H[SHQVHGLQWKHSHULRGLQZKLFKWKH\RFFXU

%RUURZLQJFRVWVFRQVLVWRILQWHUHVWDQGRWKHUFRVWVWKDWDQHQWLW\LQFXUVLQFRQQHFWLRQZLWKWKHERUURZLQJRIIXQGV%RUURZLQJ FRVWVDOVRLQFOXGHVH[FKDQJHGLIIHUHQFHVWRWKHH[WHQWUHJDUGHGDVDQDGMXVWPHQWWRWKHERUURZLQJFRVWV

O Leases

$OHDVHLVDFRQWUDFWWKDWFRQWDLQVULJKWWRFRQWUROWKHXVHRIDQLGHQWL¿HGDVVHWIRUDSHULRGRIWLPHLQH[FKDQJHIRUFRQVLGHUDWLRQ

&RPSDQ\DVDOHVVHH

&RPSDQ\LVOHVVHHLQFDVHRIOHDVHKROGODQGRI¿FHVSDFHDQGDFFRPPRGDWLRQIRULWVHPSOR\HHV7KHVHOHDVHVDUHHYDOXDWHGWR determine whether it contains lease based on principles for the recognition, measurement, presentation and disclosure of leases IRUERWKOHVVHHVDQGOHVVRUVDVGH¿QHGLQ,QG$6

(IIHFWLYH$SULODOOOHDVHVZLWKDWHUPRIPRUHWKDQPRQWKVDUHUHFRJQL]HGDVULJKWRIXVHDVVHWVDORQJZLWKDVVRFLDWHG OHDVHOLDELOLWLHVLQWKHEDODQFHVKHHW

5LJKWRIXVHDVVHWUHSUHVHQWVWKH&RPSDQ\¶VULJKWWRFRQWUROWKHXQGHUO\LQJDVVHWVXQGHUOHDVHDQGWKHOHDVHOLDELOLW\LVWKH REOLJDWLRQWRPDNHWKHOHDVHSD\PHQWVUHODWHGWRWKHXQGHUO\LQJDVVHWXQGHUOHDVH5LJKWRIXVHDVVHWLVPHDVXUHGLQLWLDOO\EDVHG RQWKHOHDVHOLDELOLW\DGMXVWHGIRUDQ\LQLWLDOGLUHFWFRVWVSUHSDLGUHQWDQGOHDVHLQFHQWLYHV5LJKWRIXVHDVVHWLVGHSUHFLDWHG EDVHGRQVWUDLJKWOLQHPHWKRGRYHUWKHOHDVHWHUPRUXVHIXOOLIHRIULJKWRIXVHDVVHWZKLFKHYHULVOHVV6XEVHTXHQWO\ULJKWRI

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

XVHDVVHWLVPHDVXUHGDWFRVWOHVVDQ\DFFXPXODWHGGHSUHFLDWLRQDFFXPXODWHGLPSDLUPHQWORVVHVLIDQ\DQGDGMXVWHGIRUDQ\ UHPHDVXUHPHQWRIOHDVHOLDELOLW\

The lease liability is measured at the lease commencement date and determined using the present value of the minimum lease SD\PHQWVQRW\HWSDLGDQGWKH&RPSDQ\¶VLQFUHPHQWDOERUURZLQJUDWHZKLFKDSSUR[LPDWHVWKHUDWHDWZKLFKWKHFRPSDQ\ZRXOG ERUURZLQWKHFRXQWU\ZKHUHWKHOHDVHZDVH[HFXWHG7KH&RPSDQ\KDVXVHGDVLQJOHGLVFRXQWUDWHIRUDSRUWIROLRRIOHDVHV ZLWKUHDVRQDEO\VLPLODUFKDUDFWHULVWLFV7KHOHDVHSD\PHQWFRPSULVHV¿[HGSD\PHQWOHVVDQ\OHDVHLQFHQWLYHVYDULDEOHOHDVH payment that depends on an index or a rate, exercise price of a purchase option if the Company is reasonably certain to exercise WKHRSWLRQDQGSD\PHQWRISHQDOWLHVIRUWHUPLQDWLQJWKHOHDVHLIWKHOHDVHWHUPUHÀHFWVWKHFRPSDQ\H[HUFLVLQJDQRSWLRQWR WHUPLQDWHWKHOHDVH/HDVHOLDELOLW\LVVXEVHTXHQWO\PHDVXUHGE\LQFUHDVHWKHFDUU\LQJDPRXQWWRUHÀHFWLQWHUHVWRQWKHOHDVH OLDELOLW\UHGXFLQJWKHFDUU\LQJDPRXQWWRUHÀHFWWKHOHDVHSD\PHQWPDGHDQGUHPHDVXULQJWKHFDUU\LQJDPRXQWWRUHÀHFWDQ\ UHDVVHVVPHQWRUPRGL¿FDWLRQLIDQ\

7KH&RPSDQ\KDVHOHFWHGWRQRWUHFRJQL]HOHDVHVZLWKDOHDVHWHUPRIPRQWKVRUOHVVLQWKHEDODQFHVKHHWLQFOXGLQJWKRVH DFTXLUHGLQDEXVLQHVVFRPELQDWLRQDQGOHDVHFRVWVIRUWKRVHVKRUWWHUPOHDVHVDUHUHFRJQL]HGRQDVWUDLJKWOLQHEDVLVRYHUWKH OHDVHWHUPLQWKHVWDWHPHQWRISUR¿WDQGORVV)RUDOODVVHWFODVVHVWKH&RPSDQ\KDVHOHFWHGWKHOHVVHHSUDFWLFDOH[SHGLHQWWR FRPELQHOHDVHDQGQRQOHDVHFRPSRQHQWVDQGDFFRXQWIRUWKHFRPELQHGXQLWDVDVLQJOHOHDVHFRPSRQHQWLQFDVHWKHUHLVQR VHSDUDWHSD\PHQWGH¿QHGXQGHUWKHFRQWUDFW

&RPSDQ\DVDOHVVRU

/HDVHVLQZKLFKWKH&RPSDQ\GRHVQRWWUDQVIHUVXEVWDQWLDOO\DOOWKHULVNVDQGEHQH¿WVRIRZQHUVKLSRIWKHDVVHWDUHFODVVL¿HG DVRSHUDWLQJOHDVHV,QLWLDOGLUHFWFRVWVLQFXUUHGLQQHJRWLDWLQJDQRSHUDWLQJOHDVHDUHDGGHGWRWKHFDUU\LQJDPRXQWRIWKHOHDVHG DVVHWDQGUHFRJQL]HGRYHUWKHOHDVHWHUPRQWKHVDPHEDVLVDVUHQWDOLQFRPH&RQWLQJHQWUHQWVDUHUHFRJQL]HGDVUHYHQXHLQ WKH\HDULQZKLFKWKH\DUHHDUQHGRUFRQWLQJHQF\LVUHVROYHG

/HDVHVLQZKLFKWKH&RPSDQ\WUDQVIHUVVXEVWDQWLDOO\DOOWKHULVNDQGEHQH¿WVRIRZQHUVKLSRIWKHDVVHWDUHFODVVL¿HGDV¿QDQFH OHDVHV$VVHWVJLYHQXQGHU¿QDQFHOHDVHDUHUHFRJQL]HGDVDUHFHLYDEOHDWDQDPRXQWHTXDOWRWKHSUHVHQWYDOXHRIOHDVH UHFHLYDEOH$IWHULQLWLDOUHFRJQLWLRQWKH&RPSDQ\DSSRUWLRQVOHDVHUHQWDOVEHWZHHQWKHSULQFLSDOUHSD\PHQWDQGLQWHUHVWLQFRPH VRDVWRDFKLHYHDFRQVWDQWSHULRGLFUDWHRIUHWXUQRQWKHQHWLQYHVWPHQWRXWVWDQGLQJLQUHVSHFWRIWKH¿QDQFHOHDVHV7KHLQWHUHVW LQFRPHLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV,QLWLDOGLUHFWFRVWVVXFKDVOHJDOFRVWEURNHUDJHFRVWHWFDUHUHFRJQL]HG LPPHGLDWHO\LQWKHVWDWHPHQWRISUR¿WDQGORVV

:KHQDUUDQJHPHQWVLQFOXGHPXOWLSOHSHUIRUPDQFHREOLJDWLRQVWKH&RPSDQ\DOORFDWHVWKHFRQVLGHUDWLRQLQWKHFRQWUDFWEHWZHHQ WKHOHDVHFRPSRQHQWVDQGWKHQRQOHDVHFRPSRQHQWVRQDUHODWLYHVWDQGDORQHVHOOLQJSULFHEDVLV

7UDQVLWLRQWR,QG$6

0LQLVWU\RI&RUSRUDWH$IIDLUV ³0&$´ WKURXJK&RPSDQLHV ,QGLDQ$FFRXQWLQJ6WDQGDUGV $PHQGPHQW5XOHVKDVQRWL¿HG ,QG$6/HDVHVZKLFKUHSODFHVWKHH[LVWLQJOHDVHVWDQGDUG,QG$6OHDVHVDQGRWKHULQWHUSUHWDWLRQV,QG$6VHWVRXW WKHSULQFLSOHVIRUWKHUHFRJQLWLRQPHDVXUHPHQWSUHVHQWDWLRQDQGGLVFORVXUHRIOHDVHVIRUERWKOHVVHHVDQGOHVVRUV

7KH&RPSDQ\KDVDGRSWHG,QG$6HIIHFWLYH$SULOXVLQJWKHPRGL¿HGUHWURVSHFWLYHDSSURDFKZKLFKLQYROYHVUHFRJQL]LQJ QHZULJKWRIXVHDVVHWVDQGOHDVHOLDELOLWLHVRQLWVEDODQFHVKHHW&RPSDUDWLYHLQIRUPDWLRQKDVQRWEHHQDGMXVWHGDQGFRQWLQXHV WREHUHSRUWHGXQGHU,QG$6$VDUHVXOWRIWKH&RPSDQ\¶VDGRSWLRQRIWKLVQHZVWDQGDUGDOOOHDVHVDUHUHFRUGHGRQWKH EDODQFHVKHHW7KH&RPSDQ\KDVDOVRHOHFWHGWKHSUDFWLFDOH[SHGLHQWVQRWWRUHDVVHVVSULRUFRQFOXVLRQVUHODWHGWRFRQWUDFWV FRQWDLQLQJOHDVHVOHDVHFODVVL¿FDWLRQDQGLQLWLDOGLUHFWFRVWV7KH&RPSDQ\KDVXVHGDVLQJOHGLVFRXQWUDWHWRDSRUWIROLRRI OHDVHVZLWKUHDVRQDEO\VLPLODUFKDUDFWHULVWLFV7KH&RPSDQ\KDVHOHFWHGWKHOHVVHHSUDFWLFDOH[SHGLHQWWRFRPELQHOHDVHDQG QRQOHDVHFRPSRQHQWVDQGDFFRXQWIRUWKHFRPELQHGXQLWDVDVLQJOHOHDVHFRPSRQHQWLQFDVHWKHUHLVQRVHSDUDWHSD\PHQW GH¿QHGXQGHUWKHFRQWUDFWDQGWRXVHWKHUHFRJQLWLRQH[HPSWLRQIRUOHDVHFRQWUDFWVWKDWDWWKHFRPPHQFHPHQWGDWHKDYHD OHDVHWHUPRIPRQWKVRUOHVVDQGGRQRWFRQWDLQDSXUFKDVHRSWLRQ ³VKRUWWHUPOHDVHV´

,PSDFWRQ¿QDQFLDOVWDWHPHQWV

$VDUHVXOWRIDGRSWLRQRI,QG$6WKH&RPSDQ\UHFRJQL]HGDGGLWLRQDOOHDVHOLDELOLWLHVRI` FURUHVDQGULJKWVRIXVHDVVHWV of ` FURUHVDVRQ$SULO

7KHZHLJKWHGDYHUDJHLQFUHPHQWDOERUURZLQJUDWHRIKDVEHHQDSSOLHGWROHDVHOLDELOLWLHVUHFRJQL]HGLQWKHEDODQFHVKHHW DWWKHGDWHRILQLWLDODSSOLFDWLRQLQUHVSHFWRIOHDVHVFODVVL¿HGDVRSHUDWLQJOHDVHVDVSHU,QG$6

7KH GLIIHUHQFH EHWZHHQ IXWXUH PLQLPXP OHDVH UHQWDO FRPPLWPHQWV DJDLQVW QRQFDQFHOODEOH RSHUDWLQJ OHDVHV UHSRUWHG DV DW 0DUFKDQGOHDVHOLDELOLW\UHFRJQL]HGDVDW$SULOLVSULPDULO\GXHWRH[FOXVLRQRIVKRUWWHUPOHDVHFRPPLWPHQWVIRU ZKLFKWKH&RPSDQ\KDVFKRVHQWRDSSO\WKHSUDFWLFDOH[SHGLHQWDVSHUWKHVWDQGDUG

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHIROORZLQJWDEOHVXPPDUL]HWKHLPSDFWRIWKH&RPSDQ\µVDGRSWLRQRI,QG$6RQLWVVWDWHPHQWRIEDODQFHVKHHWDVRI$SULO $VUHSRUWHG $GRSWLRQRI %DODQFHDVRI 0DUFK ,QG$6 $SULO 3UHSDLGH[SHQVHV LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ QRWH 3UHSDLGUHQWDOVIRUOHDVHKROGODQG LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ QRWH 2WKHU¿QDQFLDOOLDELOLWLHV FXUUHQW OLDELOLWLHVIRUH[SHQVHV QRWH 5LJKWRIXVHDVVHWV /HDVHOLDELOLW\ LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ

Notes: ,QFOXGHVSUHSDLGUHQWDPRXQWLQJWR`FURUHVDQGSUHSDLGDPRXQWRIVHFXULW\GHSRVLWDPRXQWLQJWR`FURUHVUHFODVVL¿HG WRULJKWRIXVHDVVHWV 3UHSDLGUHQWDOIRUOHDVHKROGODQGDPRXQWLQJWR`FURUHVZKLFKKDVEHHQUHFODVVL¿HGWRULJKWRIXVHDVVHWV ,QFOXGHVOHDVHHTXDOL]DWLRQUHVHUYHRI`FURUHVDGMXVWHGZLWKULJKWRIXVHDVVHWV

P Inventory

6WRFNLQWUDGHVWRUHVDQGVSDUHVDUHYDOXHGDWWKHORZHURIWKHFRVWRUQHWUHDOL]DEOHYDOXH&RVWLQFOXGHVFRVWRISXUFKDVHDQG RWKHUFRVWVLQFXUUHGLQEULQJLQJWKHLQYHQWRULHVWRWKHLUSUHVHQWORFDWLRQDQGFRQGLWLRQ1HWUHDOL]DEOHYDOXHLVWKHHVWLPDWHGVHOOLQJ SULFHLQWKHRUGLQDU\FRXUVHRIEXVLQHVVOHVVHVWLPDWHGFRVWVRIFRPSOHWLRQDQGHVWLPDWHGFRVWVQHFHVVDU\WRPDNHWKHVDOH

Q ,PSDLUPHQWRIQRQ¿QDQFLDODVVHWV

*RRGZLOO

*RRGZLOO LV WHVWHG DQQXDOO\ RQ 0DUFK IRU LPSDLUPHQW RU VRRQHU ZKHQHYHU WKHUH LV DQ LQGLFDWLRQ WKDW JRRGZLOO PD\ EH LPSDLUHGUHO\LQJRQDQXPEHURIIDFWRUVLQFOXGLQJRSHUDWLQJUHVXOWVEXVLQHVVSODQVDQGIXWXUHFDVKÀRZV)RUWKHSXUSRVHRI LPSDLUPHQWWHVWLQJJRRGZLOODFTXLUHGLQDEXVLQHVVFRPELQDWLRQLVDOORFDWHGWRWKH&RPSDQ\¶VFDVKJHQHUDWLQJXQLWV &*8 H[SHFWHGWREHQH¿WIURPWKHV\QHUJLHVDULVLQJIURPWKHEXVLQHVVFRPELQDWLRQ$&*8LVWKHVPDOOHVWLGHQWL¿DEOHJURXSRIDVVHWV WKDWJHQHUDWHVFDVKLQÀRZVWKDWDUHODUJHO\LQGHSHQGHQWRIWKHFDVKLQÀRZVIURPRWKHUDVVHWVRUJURXSRIDVVHWV,PSDLUPHQW RFFXUVZKHQWKHFDUU\LQJDPRXQWRID&*8LQFOXGLQJWKHJRRGZLOOH[FHHGVWKHHVWLPDWHGUHFRYHUDEOHDPRXQWRIWKH&*87KH UHFRYHUDEOHDPRXQWRID&*8LVWKHKLJKHURILWVIDLUYDOXHOHVVFRVWWRVHOODQGLWVYDOXHLQXVH9DOXHLQXVHLVWKHSUHVHQWYDOXH RIIXWXUHFDVKÀRZVH[SHFWHGWREHGHULYHGIURPWKH&*87RWDOLPSDLUPHQWORVVRID&*8LVDOORFDWHG¿UVWWRUHGXFHWKHFDUU\LQJ DPRXQWRIJRRGZLOODOORFDWHGWRWKH&*8DQGWKHQWRWKHRWKHUDVVHWVRIWKH&*8SURUDWDRQWKHEDVLVRIWKHFDUU\LQJDPRXQW RIHDFKDVVHWLQWKH&*8

$QLPSDLUPHQWORVVRQJRRGZLOOUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVLVQRWUHYHUVHGLQWKHVXEVHTXHQWSHULRG

,QWDQJLEOHDVVHWVDQGSURSHUW\SODQWDQGHTXLSPHQW

,QWDQJLEOHDVVHWVDQGSURSHUW\SODQWDQGHTXLSPHQWDUHHYDOXDWHGIRUUHFRYHUDELOLW\ZKHQHYHUHYHQWVRUFKDQJHVLQFLUFXPVWDQFHV LQGLFDWHWKDWWKHLUFDUU\LQJDPRXQWVPD\QRWEHUHFRYHUDEOH)RUWKHSXUSRVHRILPSDLUPHQWWHVWLQJWKHUHFRYHUDEOHDPRXQW LH WKHKLJKHURIWKHIDLUYDOXHOHVVFRVWWRVHOODQGWKHYDOXHLQXVH LVGHWHUPLQHGRQDQLQGLYLGXDODVVHWEDVLVXQOHVVWKHDVVHW GRHVQRWJHQHUDWHFDVKÀRZVWKDWDUHODUJHO\LQGHSHQGHQWRIWKRVHIURPRWKHUDVVHWV,QVXFKFDVHVWKHUHFRYHUDEOHDPRXQW LVGHWHUPLQHGIRUWKH&*8WRZKLFKWKHDVVHWEHORQJV,IVXFKDVVHWVDUHFRQVLGHUHGWREHLPSDLUHGWKHLPSDLUPHQWWREH UHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVLVPHDVXUHGE\WKHDPRXQWE\ZKLFKWKHFDUU\LQJYDOXHRIWKHDVVHWH[FHHGVWKH HVWLPDWHGUHFRYHUDEOHDPRXQWRIWKHDVVHW

R Provisions and contingent liabilities

A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be HVWLPDWHGUHOLDEO\DQGLWLVSUREDEOHWKDWDQRXWÀRZRIUHVRXUFHVHPERG\LQJHFRQRPLFEHQH¿WVZLOOEHUHTXLUHGWRVHWWOHWKHREOLJDWLRQ ,IWKHHIIHFWRIWKHWLPHYDOXHRIPRQH\LVPDWHULDOSURYLVLRQVDUHGHWHUPLQHGE\GLVFRXQWLQJWKHH[SHFWHGIXWXUHFDVKÀRZV

7KH&RPSDQ\XVHVVLJQL¿FDQWMXGJHPHQWWRGLVFORVHFRQWLQJHQWOLDELOLWLHV&RQWLQJHQWOLDELOLWLHVDUHGLVFORVHGZKHQWKHUHLVD SRVVLEOHREOLJDWLRQDULVLQJIURPSDVWHYHQWVWKHH[LVWHQFHRIZKLFKZLOOEHFRQ¿UPHGRQO\E\WKHRFFXUUHQFHRUQRQRFFXUUHQFH of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past HYHQWVZKHUHLWLVHLWKHUQRWSUREDEOHWKDWDQRXWÀRZRIUHVRXUFHVZLOOEHUHTXLUHGWRVHWWOHWKHREOLJDWLRQRUDUHOLDEOHHVWLPDWHRI WKHDPRXQWFDQQRWEHPDGH&RQWLQJHQWDVVHWVDUHQHLWKHUUHFRJQLVHGQRUGLVFORVHGLQWKH¿QDQFLDOVWDWHPHQWV

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

S 5HWLUHPHQWDQGRWKHUHPSOR\HHEHQH¿WV

L 3URYLGHQWIXQG(PSOR\HHVRIWKH&RPSDQ\UHFHLYHEHQH¿WVXQGHUWKHSURYLGHQWIXQGDGH¿QHGEHQH¿WSODQ7KHHPSOR\HH DQG HPSOR\HU HDFK PDNH PRQWKO\ FRQWULEXWLRQV WR WKH SODQ$ SRUWLRQ RI WKH FRQWULEXWLRQ LV PDGH WR WKH SURYLGHQW IXQG WUXVWPDQDJHGE\WKH&RPSDQ\RU*RYHUQPHQWDGPLQLVWHUHGSURYLGHQWIXQGZKLOHWKHEDODQFHFRQWULEXWLRQLVPDGHWRWKH *RYHUQPHQWDGPLQLVWHUHGSHQVLRQIXQG)RUWKHFRQWULEXWLRQPDGHE\WKH&RPSDQ\WRWKHSURYLGHQWIXQGWUXVWPDQDJHGE\ WKH&RPSDQ\WKH&RPSDQ\KDVDQREOLJDWLRQWRIXQGDQ\VKRUWIDOORQWKH\LHOGRIWKH7UXVW¶VLQYHVWPHQWVRYHUWKHDGPLQLVWHUHG LQWHUHVWUDWHV7KHOLDELOLW\LVDFWXDULDOO\GHWHUPLQHG XVLQJWKHSURMHFWHGXQLWFUHGLWPHWKRG DWWKHHQGRIWKH\HDU7KHIXQGV FRQWULEXWHGWRWKH7UXVWDUHLQYHVWHGLQVSHFL¿FVHFXULWLHVDVPDQGDWHGE\ODZDQGJHQHUDOO\FRQVLVWRIIHGHUDODQGVWDWH JRYHUQPHQWERQGVGHEWLQVWUXPHQWVRIJRYHUQPHQWRZQHGFRUSRUDWLRQVDQGHTXLW\RWKHUHOLJLEOHPDUNHWVHFXULWLHV

LL ,QUHVSHFWRIVXSHUDQQXDWLRQDGH¿QHGFRQWULEXWLRQSODQIRUDSSOLFDEOHHPSOR\HHVWKH&RPSDQ\FRQWULEXWHVWRDVFKHPH administered on its behalf by appointed fund managers and such contributions for each year of service rendered by the HPSOR\HHVDUHFKDUJHGWRWKHVWDWHPHQWRISUR¿WDQGORVV7KH&RPSDQ\KDVQRIXUWKHUREOLJDWLRQVWRWKHVXSHUDQQXDWLRQ SODQEH\RQGLWVFRQWULEXWLRQV

LLL *UDWXLW\OLDELOLW\7KH&RPSDQ\SURYLGHIRUJUDWXLW\DGH¿QHGEHQH¿WSODQ WKH³*UDWXLW\3ODQ´ FRYHULQJHOLJLEOHHPSOR\HHV 7KH*UDWXLW\3ODQSURYLGHVDOXPSVXPSD\PHQWWRYHVWHGHPSOR\HHVDWUHWLUHPHQWGHDWKLQFDSDFLWDWLRQRUWHUPLQDWLRQ RIHPSOR\PHQWRIDQDPRXQWEDVHGRQWKHUHVSHFWLYHHPSOR\HH¶VEDVHVDODU\DQGWKHWHQXUHRIHPSOR\PHQW VXEMHFWWRD maximum of `ODFVSHUHPSOR\HH 7KHOLDELOLW\LVDFWXDULDOO\GHWHUPLQHG XVLQJWKHSURMHFWHGXQLWFUHGLWPHWKRG DWWKH HQGRIHDFK\HDU$FWXDULDOJDLQVORVVHVDUHUHFRJQL]HGLPPHGLDWHO\LQWKHEDODQFHVKHHWZLWKDFRUUHVSRQGLQJGHELWRU FUHGLWWRUHWDLQHGHDUQLQJVWKURXJKRWKHUFRPSUHKHQVLYHLQFRPHLQWKH\HDULQZKLFKWKH\RFFXU

,QUHVSHFWWRFHUWDLQHPSOR\HHVLQ,QGLDWKH&RPSDQ\FRQWULEXWHVWRZDUGVJUDWXLW\OLDELOLWLHVWRWKH*UDWXLW\)XQG7UXVW Trustees of the Company administer contributions made to the Trust and contributions are invested in a scheme with Life ,QVXUDQFH&RUSRUDWLRQRI,QGLDDVSHUPLWWHGE\ODZ

iv Compensated absences: The employees of the Company are entitled to compensated absences which are both accumulating DQGQRQDFFXPXODWLQJLQQDWXUH7KHHPSOR\HHVFDQFDUU\IRUZDUGXSWRWKHVSHFL¿HGSRUWLRQRIWKHXQXWLOL]HGDFFXPXODWHG FRPSHQVDWHGDEVHQFHVDQGXWLOL]HLWLQIXWXUHSHULRGVRUUHFHLYHFDVKDWUHWLUHPHQWRUWHUPLQDWLRQRIHPSOR\PHQW7KH H[SHFWHGFRVWRIDFFXPXODWLQJFRPSHQVDWHGDEVHQFHVLVGHWHUPLQHGE\DFWXDULDOYDOXDWLRQ XVLQJWKHSURMHFWHGXQLWFUHGLW method) based on the additional amount expected to be paid as a result of the unused entitlement that has accumulated at WKHEDODQFHVKHHWGDWH7KHH[SHQVHRQQRQDFFXPXODWLQJFRPSHQVDWHGDEVHQFHVLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿W DQGORVVLQWKH\HDULQZKLFKWKHDEVHQFHVRFFXU$FWXDULDOJDLQVORVVHVDUHLPPHGLDWHO\WDNHQWRWKHVWDWHPHQWRISUR¿WDQG ORVVDQGDUHQRWGHIHUUHG

Y 6WDWH3ODQ7KHFRQWULEXWLRQWR6WDWH3ODQVLQ,QGLDDGH¿QHGFRQWULEXWLRQSODQQDPHO\(PSOR\HH6WDWH,QVXUDQFH)XQGLV FKDUJHGWRWKHVWDWHPHQWRISUR¿WDQGORVVDVDQGZKHQHPSOR\HHVUHQGHUUHODWHGVHUYLFHV

YL &RQWULEXWLRQV WR RWKHU IRUHLJQ GH¿QHG FRQWULEXWLRQ SODQV DUH UHFRJQL]HG DV H[SHQVH ZKHQ HPSOR\HHV KDYH UHQGHUHG VHUYLFHVHQWLWOLQJWKHPWRVXFKEHQH¿WV

T Equity settled stock based compensation

6WRFNEDVHGFRPSHQVDWLRQUHSUHVHQWVWKHFRVWUHODWHGWRVWRFNEDVHGDZDUGVJUDQWHGWRHPSOR\HHV7KH&RPSDQ\PHDVXUHV VWRFNEDVHGFRPSHQVDWLRQFRVWDWJUDQWGDWHEDVHGRQWKHHVWLPDWHGIDLUYDOXHRIWKHDZDUGDQGUHFRJQL]HVWKHFRVW QHW RI HVWLPDWHG IRUIHLWXUHV RQ D VWUDLJKW OLQH EDVLV RYHU WKH UHTXLVLWH VHUYLFH SHULRG IRU HDFK VHSDUDWHO\ YHVWLQJ SRUWLRQ RI WKH DZDUGDVLIDZDUGZDVLQVXEVWDQFHPXOWLSOHDZDUGV7KH&RPSDQ\HVWLPDWHVWKHIDLUYDOXHRIVWRFNRSWLRQVXVLQJWKH%ODFN 6FKROHVYDOXDWLRQPRGHO7KHFRVWLVUHFRUGHGXQGHUWKHKHDGHPSOR\HHEHQH¿WH[SHQVHLQWKHVWDWHPHQWRISUR¿WDQGORVVZLWK FRUUHVSRQGLQJLQFUHDVHLQ³6KDUH%DVHG3D\PHQW5HVHUYH´

U Financial Instruments

$¿QDQFLDOLQVWUXPHQWLVDFRQWUDFWWKDWJLYHVULVHWRD¿QDQFLDODVVHWRIRQHHQWLW\DQGD¿QDQFLDOOLDELOLW\RUHTXLW\LQVWUXPHQWRI DQRWKHUHQWLW\

L )LQDQFLDODVVHWV

$OO¿QDQFLDODVVHWVDUHUHFRJQL]HGLQLWLDOO\DWIDLUYDOXH7UDQVDFWLRQFRVWVWKDWDUHGLUHFWO\DWWULEXWDEOHWRWKHDFTXLVLWLRQRI ¿QDQFLDODVVHWV RWKHUWKDQ¿QDQFLDODVVHWVDWIDLUYDOXHWKURXJKSUR¿WRUORVV DUHDGGHGWRWKHIDLUYDOXHPHDVXUHGRQLQLWLDO UHFRJQLWLRQRI¿QDQFLDODVVHW3XUFKDVHDQGVDOHRI¿QDQFLDODVVHWVDUHDFFRXQWHGIRUDWWUDGHGDWH

Cash and cash equivalents &DVKDQGFDVKHTXLYDOHQWVLQWKHEDODQFHVKHHWFRPSULVHFDVKLQEDQNVDQGVKRUWWHUPGHSRVLWVDQGLQYHVWPHQWVZLWKDQ

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

RULJLQDOPDWXULW\RIWKUHHPRQWKVRUOHVVZKLFKDUHVXEMHFWWRDQLQVLJQL¿FDQWULVNRIFKDQJHVLQYDOXH)RUWKHSXUSRVHVRI WKHFDVKÀRZVWDWHPHQWFDVKDQGFDVKHTXLYDOHQWVDUHFRQVLGHUHGQHWRIRXWVWDQGLQJEDQNRYHUGUDIWVWKDWDUHUHSD\DEOH RQGHPDQGDQGDUHFRQVLGHUHGSDUWRIWKH&RPSDQ\¶VFDVKPDQDJHPHQWV\VWHP,QWKHVWDWHPHQWRI¿QDQFLDOSRVLWLRQV EDQNRYHUGUDIWVDUHSUHVHQWHGXQGHUERUURZLQJVZLWKLQFXUUHQWOLDELOLWLHV

Financial assets at amortized cost $¿QDQFLDODVVHWLVPHDVXUHGDWWKHDPRUWL]HGFRVWLIERWKWKHIROORZLQJFRQGLWLRQVDUHPHW D 7KHDVVHWLVKHOGZLWKLQDEXVLQHVVPRGHOZKRVHREMHFWLYHLVWRKROGDVVHWVIRUFROOHFWLQJFRQWUDFWXDOFDVKÀRZVDQG E &RQWUDFWXDOWHUPVRIWKHDVVHWJLYHULVHRQVSHFL¿HGGDWHVWRFDVKÀRZVWKDWDUHVROHO\SD\PHQWVRISULQFLSDODQG LQWHUHVW 633, RQWKHSULQFLSDODPRXQWRXWVWDQGLQJ

$IWHULQLWLDOPHDVXUHPHQWVXFK¿QDQFLDODVVHWVDUHVXEVHTXHQWO\PHDVXUHGDWDPRUWL]HGFRVWXVLQJWKHHIIHFWLYHLQWHUHVW UDWH (,5 PHWKRG$PRUWL]HGFRVWLVFDOFXODWHGE\WDNLQJLQWRDFFRXQWDQ\GLVFRXQWRUSUHPLXPRQDFTXLVLWLRQDQGIHHVRU FRVWVWKDWDUHDQLQWHJUDOSDUWRIWKH(,57KH(,5DPRUWL]DWLRQLVLQFOXGHGLQRWKHULQFRPHLQWKHVWDWHPHQWRISUR¿WDQGORVV 7KHORVVHVDULVLQJIURPLPSDLUPHQWDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV7KLVFDWHJRU\LQFOXGHVFDVKDQGEDQN EDODQFHVORDQVXQELOOHGUHFHLYDEOHVWUDGHDQGRWKHUUHFHLYDEOHV

Financial assets at Fair Value through Other Comprehensive Income (OCI) $¿QDQFLDODVVHWLVFODVVL¿HGDQGPHDVXUHGDWIDLUYDOXHWKURXJK2&,LIERWKRIWKHIROORZLQJFULWHULDDUHPHW D 7KHREMHFWLYHRIWKHEXVLQHVVPRGHOLVDFKLHYHGERWKE\FROOHFWLQJFRQWUDFWXDOFDVKÀRZVDQGVHOOLQJWKH¿QDQFLDO assets, and E 7KHDVVHW¶VFRQWUDFWXDOFDVKÀRZVUHSUHVHQWVROHO\SD\PHQWVRISULQFLSDODQGLQWHUHVW

)LQDQFLDODVVHWLQFOXGHGZLWKLQWKH2&,FDWHJRU\DUHPHDVXUHGLQLWLDOO\DVZHOODVDWHDFKUHSRUWLQJGDWHDWIDLUYDOXH)DLU YDOXHPRYHPHQWVDUHUHFRJQL]HGLQ2&,,QWHUHVWLQFRPHLVUHFRJQL]HGLQVWDWHPHQWRISUR¿WDQGORVVIRUGHEWLQVWUXPHQWV 2QGHUHFRJQLWLRQRIWKHDVVHWFXPXODWLYHJDLQRUORVVSUHYLRXVO\UHFRJQL]HGLQ2&,LVUHFODVVL¿HGIURP2&,WRVWDWHPHQW RISUR¿WDQGORVV

)LQDQFLDODVVHWVDW)DLU9DOXHWKURXJK3UR¿WDQG/RVV $Q\¿QDQFLDODVVHWZKLFKGRHVQRWPHHWWKHFULWHULDIRUFDWHJRUL]DWLRQDWDPRUWL]HGFRVWRUDWIDLUYDOXHWKURXJKRWKHU FRPSUHKHQVLYHLQFRPHLVFODVVL¿HGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV)LQDQFLDODVVHWVLQFOXGHGDWWKHIDLUYDOXHWKURXJK SUR¿WDQGORVVFDWHJRU\DUHPHDVXUHGDWIDLUYDOXHZLWKDOOFKDQJHVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

Equity investments (TXLW\LQYHVWPHQWVLQVXEVLGLDULHVDUHPHDVXUHGDWFRVWOHVVLPSDLUPHQWLIDQ\

'HUHFRJQLWLRQRI¿QDQFLDODVVHWV $ ¿QDQFLDO DVVHW LV SULPDULO\ GHUHFRJQL]HG ZKHQ WKH ULJKWV WR UHFHLYH FDVK ÀRZV IURP WKH DVVHW KDYH H[SLUHG RU WKH &RPSDQ\KDVWUDQVIHUUHGLWVULJKWVWRUHFHLYHFDVKÀRZVIURPWKHDVVHW

,PSDLUPHQWRI¿QDQFLDODVVHWV 7KH&RPSDQ\UHFRJQL]HVORVVDOORZDQFHVXVLQJWKHH[SHFWHGFUHGLWORVV (&/ PRGHOIRUWKH¿QDQFLDODVVHWVZKLFKDUHQRW IDLUYDOXHGWKURXJKSUR¿WDQGORVV/LIHWLPH(&/DOORZDQFHLVUHFRJQL]HGIRUWUDGHUHFHLYDEOHVZLWKQRVLJQL¿FDQW¿QDQFLQJ FRPSRQHQW)RUDOORWKHU¿QDQFLDODVVHWVH[SHFWHGFUHGLWORVVHVDUHPHDVXUHGDWDQDPRXQWHTXDOWRWKHPRQWK(&/ XQOHVVWKHUHKDVEHHQDVLJQL¿FDQWLQFUHDVHLQFUHGLWULVNIURPLQLWLDOUHFRJQLWLRQLQZKLFKFDVHWKH\DUHPHDVXUHGDWOLIHWLPH (&/7KHDPRXQWRIH[SHFWHGFUHGLWORVVHV RUUHYHUVDO WKDWLVUHTXLUHGWRDGMXVWWKHORVVDOORZDQFHDWWKHUHSRUWLQJGDWHLV UHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

LL )LQDQFLDOOLDELOLWLHV

$OO¿QDQFLDOOLDELOLWLHVDUHUHFRJQL]HGLQLWLDOO\DWIDLUYDOXHDQGLQWKHFDVHRIORDQVDQGERUURZLQJVDQGSD\DEOHVQHWRI GLUHFWO\DWWULEXWDEOHWUDQVDFWLRQFRVWV

7KHVXEVHTXHQWPHDVXUHPHQWRI¿QDQFLDOOLDELOLWLHVGHSHQGVRQWKHLUFODVVL¿FDWLRQDVGHVFULEHGEHORZ

)LQDQFLDOOLDELOLWLHVDWIDLUYDOXHWKURXJKSUR¿WRUORVV )LQDQFLDOOLDELOLWLHVGHVLJQDWHGXSRQLQLWLDOUHFRJQLWLRQDWIDLUYDOXHWKURXJKSUR¿WRUORVVDUHGHVLJQDWHGDVVXFKDWWKHLQLWLDO GDWHRIUHFRJQLWLRQDQGRQO\LIWKHFULWHULDLQ,QG$6DUHVDWLV¿HG&KDQJHVLQIDLUYDOXHRIVXFKOLDELOLW\DUHUHFRJQL]HG LQWKHVWDWHPHQWRISUR¿WRUORVV

Financial liabilities at amortized cost 7KH&RPSDQ\¶V¿QDQFLDOOLDELOLWLHVDWDPRUWL]HGFRVWLQFOXGHVWUDGHSD\DEOHVERUURZLQJVLQFOXGLQJEDQNRYHUGUDIWVDQG RWKHUSD\DEOHV

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

$IWHULQLWLDOUHFRJQLWLRQ¿QDQFLDOOLDELOLWLHVDUHVXEVHTXHQWO\PHDVXUHGDWDPRUWL]HGFRVWXVLQJWKHHIIHFWLYHLQWHUHVWUDWH (,5 PHWKRGH[FHSWIRUGHIHUUHGFRQVLGHUDWLRQUHFRJQL]HGLQDEXVLQHVVFRPELQDWLRQZKLFKLVVXEVHTXHQWO\PHDVXUHGDW IDLUYDOXHWKURXJKSUR¿WDQGORVV*DLQVDQGORVVHVDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVZKHQWKHOLDELOLWLHVDUH GHUHFRJQL]HGDVZHOODVWKURXJKWKH(,5DPRUWL]DWLRQSURFHVV

$PRUWL]HGFRVWLVFDOFXODWHGE\WDNLQJLQWRDFFRXQWDQ\GLVFRXQWRUSUHPLXPRQDFTXLVLWLRQDQGIHHVRUFRVWVWKDWDUHDQ LQWHJUDOSDUWRIWKH(,57KH(,5DPRUWL]DWLRQLVLQFOXGHGDV¿QDQFHFRVWVLQWKHVWDWHPHQWRISUR¿WDQGORVV

Derecognition $¿QDQFLDOOLDELOLW\LVGHUHFRJQL]HGZKHQWKHREOLJDWLRQXQGHUWKHOLDELOLW\LVGLVFKDUJHGRUFDQFHOOHGRUH[SLUHV

LLL 'HULYDWLYH¿QDQFLDOLQVWUXPHQWVDQGKHGJHDFFRXQWLQJ

Foreign exchange forward contracts and options are purchased to mitigate the risk of changes in foreign exchange rates DVVRFLDWHGZLWKIRUHFDVWWUDQVDFWLRQVGHQRPLQDWHGLQFHUWDLQIRUHLJQFXUUHQFLHV

7KH &RPSDQ\ UHFRJQL]HV DOO GHULYDWLYHV DV DVVHWV RU OLDELOLWLHV PHDVXUHG DW WKHLU IDLU YDOXH &KDQJHV LQ IDLU YDOXH IRU derivatives not designated in a hedge accounting relationship are marked to market at each reporting date and the related JDLQV ORVVHV DUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVDVµIRUHLJQH[FKDQJHJDLQV ORVVHV ¶

The foreign exchange forward contracts and options in respect of forecast transactions which meet the hedging criteria are GHVLJQDWHGDVFDVKÀRZKHGJHV&KDQJHVLQWKHGHULYDWLYHIDLUYDOXHV QHWRIWD[ WKDWDUHGHVLJQDWHGDVHIIHFWLYHFDVKÀRZ KHGJHVDUHGHIHUUHGDQGUHFRUGHGLQWKHKHGJLQJUHVHUYHDFFRXQWDVDFRPSRQHQWRIDFFXPXODWHGµRWKHUFRPSUHKHQVLYH LQFRPH ORVV ¶XQWLOWKHKHGJHGWUDQVDFWLRQRFFXUVDQGDUHWKHQUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV7KHLQHIIHFWLYH SRUWLRQRIKHGJLQJGHULYDWLYHVLVLPPHGLDWHO\UHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

In respect of derivatives designated as hedges, the Company formally documents all relationships between hedging LQVWUXPHQWV DQG KHGJHG LWHPV DV ZHOO DV LWV ULVN PDQDJHPHQW REMHFWLYH DQG VWUDWHJ\ IRU XQGHUWDNLQJ YDULRXV KHGJH WUDQVDFWLRQV7KH&RPSDQ\DOVRIRUPDOO\DVVHVVHVERWKDWWKHLQFHSWLRQRIWKHKHGJHDQGRQDQRQJRLQJEDVLVZKHWKHU HDFK GHULYDWLYH LV KLJKO\ HIIHFWLYH LQ RIIVHWWLQJ FKDQJHV LQ IDLU YDOXHV RU FDVK ÀRZV RI WKH KHGJHG LWHP7KH &RPSDQ\ determines the existence of an economic relationship between the hedging instrument and hedged item based on the FXUUHQF\DPRXQWDQGWLPLQJRIWKHLUUHVSHFWLYHFDVKÀRZV

+HGJH DFFRXQWLQJ LV GLVFRQWLQXHG SURVSHFWLYHO\ IURP WKH ODVW WHVWLQJ GDWH ZKHQ LW LV GHWHUPLQHG WKDW WKH GHULYDWLYH ¿QDQFLDOLQVWUXPHQWLVQRORQJHUHIIHFWLYHLQRIIVHWWLQJFKDQJHVLQWKHIDLUYDOXHRUFDVKÀRZVRIWKHXQGHUO\LQJH[SRVXUH EHLQJKHGJHG WKHGHULYDWLYH¿QDQFLDOLQVWUXPHQWPDWXUHVRULVVROGWHUPLQDWHGRUH[HUFLVHGRU LWLVGHWHUPLQHGWKDW GHVLJQDWLQJWKHGHULYDWLYH¿QDQFLDOLQVWUXPHQWDVDKHGJHLVQRORQJHUDSSURSULDWH:KHQKHGJHDFFRXQWLQJLVGLVFRQWLQXHG WKH GHIHUUHG JDLQV RU ORVVHV RQ WKH FDVK ÀRZ KHGJH UHPDLQ LQ µRWKHU FRPSUHKHQVLYH LQFRPH ORVV ¶ XQWLO WKH IRUHFDVW WUDQVDFWLRQRFFXUV$Q\IXUWKHUFKDQJHLQWKHIDLUYDOXHRIWKHGHULYDWLYH¿QDQFLDOLQVWUXPHQWLVUHFRJQL]HGLQFXUUHQW\HDU HDUQLQJV

2IIVHWWLQJRI¿QDQFLDOLQVWUXPHQWV )LQDQFLDODVVHWVDQG¿QDQFLDOOLDELOLWLHVDUHRIIVHWDQGWKHQHWDPRXQWLVUHSRUWHGLQWKHEDODQFHVKHHWLIWKHUHLVDFXUUHQWO\ enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis to realize the assets DQGVHWWOHWKHOLDELOLWLHVVLPXOWDQHRXVO\

V Dividend

)LQDOGLYLGHQGSURSRVHGE\WKH%RDUGRI'LUHFWRUVDUHUHFRJQL]HGXSRQDSSURYDOE\WKHVKDUHKROGHUVZKRKDYHWKHULJKWWR GHFUHDVHEXWQRWLQFUHDVHWKHDPRXQWRIGLYLGHQGUHFRPPHQGHGE\WKH%RDUGRI'LUHFWRUV,QWHULPGLYLGHQGVDUHUHFRJQL]HGRQ GHFODUDWLRQE\WKH%RDUGRI'LUHFWRUV

W Earnings per share (EPS)

%DVLF(36DPRXQWVDUHFRPSXWHGE\GLYLGLQJWKHQHWSUR¿WDWWULEXWDEOHWRWKHHTXLW\KROGHUVRIWKH&RPSDQ\E\WKHZHLJKWHG DYHUDJHQXPEHURIHTXLW\VKDUHVRXWVWDQGLQJGXULQJWKH\HDU

'LOXWHG(36DPRXQWVDUHFRPSXWHGE\GLYLGLQJWKHQHWSUR¿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

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHQXPEHURIVKDUHVDQGSRWHQWLDOO\GLOXWLYHHTXLW\VKDUHVDUHDGMXVWHGUHWURVSHFWLYHO\IRUDOOSHULRGVSUHVHQWHGIRUERQXV VKDUHV

X 1DWXUHDQGSXUSRVHRIUHVHUYHV

*HQHUDOUHVHUYH 8QGHUWKHHUVWZKLOH&RPSDQLHV$FWJHQHUDOUHVHUYHZDVFUHDWHGWKURXJKDQDQQXDOWUDQVIHURIQHWLQFRPHDWDVSHFL¿HG SHUFHQWDJHLQDFFRUGDQFHZLWKDSSOLFDEOHUHJXODWLRQV&RQVHTXHQWWRLQWURGXFWLRQRI&RPSDQLHV$FWWKHUHTXLUHPHQWWR PDQGDWRULO\WUDQVIHUDVSHFL¿HGSHUFHQWDJHRIWKHQHWSUR¿WWRJHQHUDOUHVHUYHKDVEHHQZLWKGUDZQ

6HFXULWLHVSUHPLXPUHVHUYH 6HFXULWLHVSUHPLXPUHVHUYHLVXVHGWRUHFRUGWKHSUHPLXPRQLVVXHRIVKDUHV7KHUHVHUYHFDQEHXWLOL]HGRQO\IRUOLPLWHGSXUSRVHV VXFKDVLVVXDQFHRIERQXVVKDUHVDQGEX\EDFNRIVKDUHVLQDFFRUGDQFHZLWKWKHSURYLVLRQVRIWKH&RPSDQLHV$FW

&DSLWDOUHGHPSWLRQUHVHUYH 7KH&RPSDQ\UHFRJQL]HVFDQFHOODWLRQRIWKH&RPSDQ\¶VRZQHTXLW\LQVWUXPHQWVWRFDSLWDOUHGHPSWLRQUHVHUYH

6KDUHEDVHGSD\PHQWUHVHUYH The share options based payment reserve is used to recognize the grant date fair value of options issued to employees under (PSOR\HHVWRFNRSWLRQSODQ

6SHFLDOHFRQRPLF]RQHUHLQYHVWPHQWUHVHUYH 7KH&RPSDQ\KDVFUHDWHG6SHFLDOHFRQRPLF]RQHUHLQYHVWPHQWUHVHUYHRXWRISUR¿WVRIWKHHOLJLEOH6(=8QLWVLQWHUPVRI WKHVSHFL¿FSURYLVLRQVRI6HFWLRQ$$ RIWKH,QFRPH7D[$FW ³WKH$FW´ 7KHVDLGUHVHUYHVKRXOGEHXWLOL]HGE\WKH &RPSDQ\IRUDFTXLULQJSODQWDQGPDFKLQHU\LQWHUPVRI6HFWLRQ$$ RIWKH$FW

)RUHLJQFXUUHQF\WUDQVODWLRQUHVHUYH Exchange differences arising on translation of the foreign operations are recognized in other comprehensive income as described LQDFFRXQWLQJSROLF\DQGDFFXPXODWHGLQDVHSDUDWHUHVHUYHZLWKLQHTXLW\7KHFXPXODWLYHDPRXQWLVUHFODVVL¿HGWRSUR¿WRUORVV ZKHQWKHQHWLQYHVWPHQWLVGLVSRVHGRII

&DVKÀRZKHGJLQJUHVHUYH )RUKHGJLQJIRUHLJQFXUUHQF\ULVNWKH&RPSDQ\XVHVIRUHLJQFXUUHQF\IRUZDUGDQGRSWLRQFRQWUDFWV7RWKHH[WHQWWKHVHKHGJHVDUH HIIHFWLYHWKHFKDQJHLQIDLUYDOXHRIWKHKHGJLQJLQVWUXPHQWLVUHFRJQL]HGLQWKHFDVKÀRZKHGJLQJUHVHUYH$PRXQWVUHFRJQL]HG LQWKHFDVKÀRZKHGJLQJUHVHUYHLVUHFODVVL¿HGWRWKHVWDWHPHQWRISUR¿WRUORVVZKHQWKHKHGJHGLWHPDIIHFWVSUR¿WRUORVV

'HEWLQVWUXPHQWVWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 7KH&RPSDQ\UHFRJQL]HVFKDQJHVLQWKHIDLUYDOXHRIGHEWLQVWUXPHQWVKHOGZLWKEXVLQHVVREMHFWLYHRIFROOHFWDQGVHOOLQRWKHU FRPSUHKHQVLYHLQFRPH7KH&RPSDQ\WUDQVIHUVDPRXQWVIURPWKLVUHVHUYHWRWKHVWDWHPHQWRISUR¿WDQGORVVZKHQWKHGHEW LQVWUXPHQWLVVROG

$&48,6,7,216

$FTXLVLWLRQVLQWKHFXUUHQW\HDU

$FTXLVLWLRQRI6HOHFW,%06RIWZDUHSURGXFWV

2Q'HFHPEHUWKH&RPSDQ\KDGVLJQHGDGH¿QLWLYHDJUHHPHQWWRDFTXLUHEXVLQHVVUHODWLQJWRVHOHFW,%0VRIWZDUHSURGXFWV for a consideration of ` FURUHV

7KH&RPSDQ\KDVDFTXLUHGWKHVHSURGXFWVIRUVHFXULW\PDUNHWLQJFRPPHUFHDQGGLJLWDOVROXWLRQVDORQJZLWKFHUWDLQDVVXPHG OLDELOLWLHVDQGLQVFRSHHPSOR\HHV:LWKWKLVWKH&RPSDQ\JHWVFRQWURORQWKHDVVHWVEHLQJDFTXLUHGDQGKDVDOVRWDNHQIXOO RZQHUVKLSRIWKHUHVHDUFKDQGGHYHORSPHQWVDOHVPDUNHWLQJGHOLYHU\DQGVXSSRUWIRUWKHVHSURGXFWV7KURXJKWKLVDFTXLVLWLRQWKH &RPSDQ\LQWHQGVWRHQKDQFHLWVSURGXFWVDQGSODWIRUPVRIIHULQJWRFXVWRPHUVDFURVVDZLGHUDQJHRILQGXVWULHVDQGPDUNHWV,%0 will pay the Company for the assumed liabilities as related services are rendered, based on an agreed basis, fair value of the same has been estimated at `FURUHV

$FTXLVLWLRQKDVEHHQFRQVXPPDWHGHIIHFWLYH-XQH7KH&RPSDQ\KDVSDLG`FURUHVWLOO-XQH`FURUHV is payable after one year and `FURUHVLVSD\DEOHLQWKUHHWUDQFKHVRI`FURUHVHDFKWLOO-XO\VXEMHFWWRIXO¿OPHQWRI FHUWDLQFRQGLWLRQVDVSHUDJUHHPHQW7KHVHSD\DEOHVKDYHEHHQIDLUYDOXHGDW`FURUHV

7KH&RPSDQ\KDGHDUOLHUDFTXLUHGFHUWDLQLQWHOOHFWXDOSURSHUW\ULJKWV /LFHQVHG,35V IURP,%0IRUVRPHRIWKHVHSURGXFWVDQGZDV carrying these licensed IPRs at an unamortized value of `FURUHVDVRI-XQH7KLVDPRXQWKDVEHHQUHGXFHGIURP OLFHQVHG,35VDQGLQFOXGHGLQSXUFKDVHSULFH

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

The purchase price including the fair value of remaining consideration and unamortized value of licensed IPRs of `FURUHVDQG `FURUHVUHVSHFWLYHO\LV`FURUHVDQGKDVEHHQDOORFDWHGEDVHGRQPDQDJHPHQWHVWLPDWHVWRWKHDFTXLUHGDVVHWVDQG liabilities as follows:

$PRXQW 5HFRYHUDEOHIURP,%0 DJDLQVWFRQWUDFWOLDELOLWLHV

&RQWUDFWOLDELOLWLHV

Deferred tax

3URSHUW\SODQWDQGHTXLSPHQW Intangible assets

Customer relationships

Technology

*RRGZLOO

7RWDOSUHOLPLQDU\SXUFKDVHFRQVLGHUDWLRQ

3UHVHQWHGJURVVRI` FURUHVUHFRYHUDEOHIURP,%0ZLWKDFRUUHVSRQGLQJFRQWUDFWOLDELOLW\IRUFXVWRPHUFRQWUDFWVHQWHUHGE\ ,%0IRUWKHVHSURGXFWVZLWKVHUYLFHREOLJDWLRQFRPPHQFLQJDIWHU-XQH

7KHUHVXOWDQWJRRGZLOOLVFRQVLGHUHGWD[GHGXFWLEOHDQGKDVEHHQDOORFDWHGWRWKHSURGXFWV SODWIRUPVVHJPHQW7KLVJRRGZLOOLV DWWULEXWDEOHPDLQO\WR&RPSDQ\¶VDELOLW\WRXSJUDGHWKHSURGXFWVDQGHQKDQFHWKHVDOHRISURGXFWVWRFXVWRPHUVLQH[LVWLQJEXVLQHVV RIWKH&RPSDQ\DQGWDUJHWLQJQHZFXVWRPHUV

7KHWDEOHEHORZVKRZVWKHYDOXHVDQGOLYHVRILQWDQJLEOHDVVHWVUHFRJQL]HGRQDFTXLVLWLRQ

$PRXQW /LIH

Customer relationships In proportion of estimated revenue

Technology WR On straight line basis over the estimated life of the respective products

7RWDO,QWDQJLEOHDVVHWV

6XEVHTXHQWWRWKHFRQVXPPDWLRQGDWHWKH&RPSDQ\KDVUHFHLYHGFHUWDLQUHYLVHGLQIRUPDWLRQIURPVHOOHUZKLFKKDVUHVXOWHGLQ DGMXVWPHQWVLQWKHYDOXHRIDVVHWVDQGOLDELOLWLHVDFTXLUHGUHVXOWLQJLQWRLQFUHDVHLQLQWDQJLEOHDVVHWVE\`FURUHVZLWKFRUUHVSRQGLQJ decrease in goodwill by `FURUHVDQGLQFUHDVHLQQHWDVVHWVE\`FURUHV

$GGLWLRQDOO\WKH&RPSDQ\KDVSDLG¿UVWWUHQFKRI`FURUHVGXULQJWKH\HDUHQGHG0DUFK

7KH&RPSDQ\LVLQWKHSURFHVVRIPDNLQJD¿QDOGHWHUPLQDWLRQRIWKHIDLUYDOXHRIDVVHWVDQGOLDELOLWLHVDQGHYDOXDWLRQRIFHUWDLQLWHPV UHODWLQJWRWD[DWLRQ)LQDOL]DWLRQRIWKHSXUFKDVHSULFHDOORFDWLRQPD\UHVXOWLQFHUWDLQDGMXVWPHQWVWRWKHDERYHDOORFDWLRQV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1RWHVWR¿QDQFLDOVWDWHPHQWV 3URSHUW\SODQWDQGHTXLSPHQW 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

&RPSXWHUVDQG Furniture )UHHKROG 3ODQWDQG 2I¿FH %XLOGLQJV networking DQG 9HKLFOHV Total ODQG HTXLSPHQW HTXLSPHQW HTXLSPHPHQW ¿[WXUHV *URVVEORFNDVDW$SULO Additions 58 $FTXLVLWLRQVWKURXJKEXVLQHVV combinations Disposals Translation exchange differences *URVVEORFNDVDW0DUFK 141 $FFXPXODWHGGHSUHFLDWLRQDV - DW$SULO Charge for the year 'HGXFWLRQRWKHUDGMXVWPHQWV Translation exchange differences $FFXPXODWHGGHSUHFLDWLRQDV - DW0DUFK 1HWEORFNDVDW0DUFK 71 74

1RWH &DSLWDOZRUNLQSURJUHVVLQFOXGHV൘FURUHVLQWHUHVWRQH[WHQGHGLQWHUHVWEHDULQJVXSSOLHUVFUHGLWDQGGXULQJWKH\HDU൘FURUHV KDYHEHHQFDSLWDOLVHGE\WKH&RPSDQ\ $OVRUHIHUIRRWQRWHRIQRWH 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

&RPSXWHUVDQG Furniture )UHHKROG 3ODQWDQG 2I¿FH %XLOGLQJV networking DQG 9HKLFOHV Total ODQG HTXLSPHQW HTXLSPHQW HTXLSPHPHQW ¿[WXUHV *URVVEORFNDVDW$SULO 117

Additions 98

Disposals

Translation exchange differences *URVVEORFNDVDW0DUFK $FFXPXODWHGGHSUHFLDWLRQDV - DW$SULO Charge for the year 88

'HGXFWLRQRWKHUDGMXVWPHQWV 5

Translation exchange differences $FFXPXODWHGGHSUHFLDWLRQDV - DW0DUFK 1HWEORFNDVDW0DUFK

1HWEORFNDVDW$SULO

1RWH&DSLWDOZRUNLQSURJUHVVLQFOXGHV൘FURUHVLQWHUHVWRQH[WHQGHGLQWHUHVWEHDULQJVXSSOLHUVFUHGLWDQGGXULQJWKH\HDU൘FURUHV KDYHEHHQFDSLWDOLVHGE\WKH&RPSDQ\ $OVRUHIHUIRRWQRWHRIQRWH

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH *RRGZLOO (IIHFWLYH$SULOFRQVHTXHQWWRUHRUJDQL]DWLRQRILWVJOREDORSHUDWLRQVGXHWRWHFKQRORJLFDOFKDQJHVDQGEXVLQHVVUHTXLUHPHQWVZLWK increased focus to meet customer expectations and provide better services, the Company has reorganized itself into three segments, ,7DQG%XVLQHVV6HUYLFHV(QJLQHHULQJDQG5 '6HUYLFHVDQG3URGXFWV 3ODWIRUPVZKLFKOHGWRFKDQJHLQFRPSRVLWLRQRILWV&DVK *HQHUDWLQJXQLWV &*8V $FFRUGLQJO\JRRGZLOOKDVEHHQUHDOORFDWHGEDVHGRQWKHUHODWLYHIDLUYDOXHRIHDFKQHZO\LGHQWL¿HG&*8V7KH&RPSDQ\WHVWHGJRRGZLOO DOORFDWHGWR&*8VIRULPSDLUPHQWSULRUWRWKH&*8FRPSRVLWLRQFKDQJHDQGLPPHGLDWHO\WKHUHDIWHUIRUHYHQWVDQGFRQGLWLRQV7KHIDLU YDOXHRIWKH&RPSDQ\DQGLWV&*8VZDVFDOFXODWHGXVLQJDGLVFRXQWHGFDVKÀRZPRGHOXVLQJHVWLPDWHGIXWXUHFDVKÀRZV7KHUHVXOWVRI RXUHYDOXDWLRQVKRZHGWKDWWKHIDLUYDOXHRIHDFKRIWKH&*8VH[FHHGHGLWVERRNYDOXH 7KHIROORZLQJWDEOHSUHVHQWVWKHFKDQJHVLQWKHFDUU\LQJYDOXHRIJRRGZLOOEDVHGRQQHZLGHQWL¿HG&*8VIRUWKH\HDUHQGHG 0DUFK

,7DQG%XVLQHVV (QJLQHHULQJDQG 3URGXFWVDQG Total 6HUYLFHV 5 'VHUYLFHV 3ODWIRUPV 2SHQLQJEDODQFHDVDW$SULO -

Effect of exchange rate changes

&ORVLQJEDODQFHDVDW0DUFK -

7KHIROORZLQJWDEOHSUHVHQWVWKHFKDQJHVLQJRRGZLOOEDVHGRQ&*8VIRUWKH\HDUHQGHG0DUFK

,7DQG%XVLQHVV (QJLQHHULQJDQG 3URGXFWVDQG Total 6HUYLFHV 5 'VHUYLFHV 3ODWIRUPV 2SHQLQJEDODQFHDVDW$SULO -

$FTXLVLWLRQVWKURXJKEXVLQHVVFRPELQDWLRQ 5,987 5,987

0HDVXUHPHQWSHULRGDGMXVWPHQWV UHIHUQRWH

Effect of exchange rate changes

&ORVLQJEDODQFHDVDW0DUFK

)RUWKHSXUSRVHRILPSDLUPHQWWHVWLQJJRRGZLOODFTXLUHGLQDEXVLQHVVFRPELQDWLRQLVDOORFDWHGWRWKHFDVKJHQHUDWLQJXQLWV &*8 ZKLFKEHQH¿WIURPWKHV\QHUJLHVRIWKHDFTXLVLWLRQ

*RRGZLOOLVWHVWHGIRULPSDLUPHQWDWOHDVWDQQXDOO\,PSDLUPHQWLVUHFRJQLVHGZKHQWKHFDUU\LQJDPRXQWRIFDVKJHQHUDWLQJXQLWV &*8 LQFOXGLQJJRRGZLOOH[FHHGVWKHHVWLPDWHGUHFRYHUDEOHDPRXQWRI&*87KHHVWLPDWHGYDOXHLQXVHRIWKLV&*8LVEDVHGRQWKHIXWXUH FDVKÀRZVDUHIRUHFDVWIRUWR\HDUV WKHQRQSHUSHWXLW\RQWKHEDVLVRIFHUWDLQDVVXPSWLRQVZKLFKLQFOXGHVUHYHQXHJURZWKHDUQLQJV EHIRUHLQWHUHVWDQGWD[HVWD[HVFDSLWDORXWÀRZDQGZRUNLQJFDSLWDOUHTXLUHPHQWV7KHDVVXPSWLRQVDUHWDNHQRQWKHEDVLVRISDVW WUHQGVDQGPDQDJHPHQWHVWLPDWHVDQGMXGJHPHQW)XWXUHFDVKÀRZVDUHGLVFRXQWHGZLWK³:HLJKWHG$YHUDJH&RVWRI&DSLWDO´7KHNH\ assumptions are as follows:

As at 0DUFK 0DUFK *URZWKUDWH upto 5 upto 5 7HUPLQDOJURZWKUDWH XSWR XSWR 3UHWD[GLVFRXQWUDWH

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ÀRZVGLVFRXQWUDWHVJURZWK UDWHVHDUQLQJVEHIRUHLQWHUHVWDQGWD[HVLQFOXGLQJWHUPLQDOJURZWKUDWHDORQJZLWKVXEMHFWLQJWKHVHYDULDEOHVWRVHQVLWLYLW\DQDO\VLV FRQVLGHULQJLPSDFWHGLQGXVWU\YHUWLFDOVDQGJHRJUDSKLHV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 2WKHULQWDQJLEOHDVVHWV 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

Software ,QWHOOHFWXDO /LFHQVHG &XVWRPHU &XVWRPHU property Total IPRs relationships 7HFKQRORJ\ FRQWUDFWV rights *URVVEORFNDVDW$SULO - 7

Additions

$FTXLVLWLRQVWKURXJKEXVLQHVV combinations

'LVSRVDOVRWKHUDGMXVWPHQWV UHIHU QRWH

*URVVEORFNDVDW0DUFK 7

$FFXPXODWHGDPRUWL]DWLRQ - DVDW$SULO

Charge for the year

'HGXFWLRQRWKHUDGMXVWPHQWV UHIHUQRWH

$FFXPXODWHGDPRUWL]DWLRQ 4 DVDW0DUFK

1HWEORFNDVDW0DUFK -

Estimated remaining useful life 9 9 (in years)

7KH &RPSDQ\ WHVWV LQWDQJLEOH DVVHWV IRU LPSDLUPHQW ZKHQ WKHUH LV DQ LQGLFDWLRQ IRU LPSDLUPHQW 7KH &RPSDQ\ KDV SHUIRUPHG DQ evaluation of the amortization period and method for its intangible assets, along with intangible assets impairment testing considering the OLNHO\LPSDFWRI&29,'RQIXWXUHFDVKÀRZVDQGJURZWKUDWHVDORQJZLWKVXEMHFWLQJWKHVHYDULDEOHVWRVHQVLWLYLW\DQDO\VLVFRQVLGHULQJ LPSDFWHGLQGXVWU\YHUWLFDOVDQGJHRJUDSKLHV 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

,QWHOOHFWXDO Software /LFHQVHG &XVWRPHU &XVWRPHU property Total IPRs relationships 7HFKQRORJ\ FRQWUDFWV rights *URVVEORFNDVDW$SULO - 7

Additions

Disposals

*URVVEORFNDVDW0DUFK - 7

$FFXPXODWHGDPRUWL]DWLRQ - DVDW$SULO

Charge for the year 795

'HGXFWLRQRWKHUDGMXVWPHQWV

$FFXPXODWHGDPRUWL]DWLRQ - DVDW0DUFK

1HWEORFNDVDW0DUFK - - 4

1HWEORFNDVDW$SULO - -

Estimated remaining useful life 8 (in years)

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH ,QYHVWPHQWV

As at 0DUFK 0DUFK )LQDQFLDODVVHWV 1RQFXUUHQW 8QTXRWHG,QYHVWPHQW (TXLW\LQYHVWPHQWLQVXEVLGLDU\FRPSDQLHVFDUULHGDWFRVW IXOO\SDLGXS 0DUFK HTXLW\VKDUHVRI86'HDFKLQ +&/%HUPXGD/LPLWHG%HUPXGD 0DUFK HTXLW\VKDUHVRI`HDFKLQ+&/&RPQHW Systems & Services Limited 0DUFK HTXLW\VKDUHVRI` HDFKLQ+&/&RPQHW 55 55 Limited HCL Technologies (Shanghai) Limited (issued & registered capital) 0DUFK HTXLW\VKDUHVRI6*'HDFKLQ+&/ 5 5 6LQJDSRUH3WH/LPLWHG 0DUFK HTXLW\VKDUHVRI3RXQGHDFKIXOO\ paid up, in HCL EAS Limited 0DUFK HTXLW\VKDUHVRI(XURHDFKLQ+&/*PE+ 0DUFK HTXLW\VKDUHVRI`HDFKLQ+&/(DJOH /LPLWHG 0DUFK HTXLW\VKDUHVRI`HDFKLQ+&/ )RXQGDWLRQ 0DUFK HTXLW\VKDUHVRI6*'HDFKLQ+&/ $LVD3DFL¿F3WH/WG )RUPHUO\NQRZQDV*HRPHWULF$VLD3DFL¿F3WH/WG Singapore) (XURPLOOLRQ 0DUFKPLOOLRQ LQYHVWHGLQHTXLW\VKDUH FDSLWDORI*HRPHWULF(XURSH*PE+*HUPDQ\ 0DUFK QRQDVVHVVDEOHVKDUHVRI86'HDFKLQ *HRPHWULF$PHULFDV,QF86$ 0DUFK1LO HTXLW\VKDUHVRI`HDFKLQ6DQNDOS 6HPLFRQGXFWRU3ULYDWH/LPLWHG ,QYHVWPHQWLQHTXLW\VKDUHFDSLWDORI+&/7HFKQRORJLHV/DQND 3ULYDWH Limited # Current 4XRWHGLQYHVWPHQWV Carried at fair value through other comprehensive income Investment in debt securities 8QTXRWHG,QYHVWPHQWV &DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV Investment in mutual funds

7RWDOLQYHVWPHQWV¿QDQFLDODVVHWV

$JJUHJDWHDPRXQWRITXRWHGLQYHVWPHQWV $JJUHJDWHDPRXQWRIXQTXRWHGLQYHVWPHQWV 0DUNHWYDOXHRITXRWHGLQYHVWPHQWV

(TXLW\LQVWUXPHQWVFDUULHGDWFRVW Investment carried at fair value through other comprehensive income ,QYHVWPHQWFDUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV

1RWH 5HSUHVHQWYDOXHOHVVWKDQ`FURUH 7KH&RPSDQ\LQYHVWHGLQHTXLW\VKDUHVRI6DQNDOS6HPLFRQGXFWRU3ULYDWH/LPLWHGDQGUHPDLQLQJVKDUHVDUHKHOG WKURXJK6DQNDOSVWRFNWUXVWZKROO\FRQWUROOHGE\6DQNDOS6HPLFRQGXFWRU3ULYDWH/LPLWHG 7KH&RPSDQ\KDVDSSOLHGIRURUGLQDU\VKDUHRI6UL/DQNDQUXSHHVHDFKZKLFKDUH\HWWREHDOORWHG

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

/RDQV

As at 0DUFK 0DUFK 1RQFXUUHQW &DUULHGDWDPRUWL]HGFRVW 8QVHFXUHGFRQVLGHUHGJRRG Inter corporate deposits - Current &DUULHGDWDPRUWL]HGFRVW 8QVHFXUHGFRQVLGHUHGJRRG Inter corporate deposits /RDQVWRUHODWHGSDUWLHV UHIHUQRWH 9

2WKHU¿QDQFLDODVVHWV

As at 0DUFK 0DUFK 1RQFXUUHQW &DUULHGDWDPRUWL]HGFRVW )LQDQFHOHDVHUHFHLYDEOHV>UHIHUQRWH E @ Security deposits 58 59 6HFXULW\GHSRVLWVUHODWHGSDUWLHV UHIHUQRWH 8QELOOHGUHFHLYDEOH 99 Other receivables &DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @ Current &DUULHGDWDPRUWL]HGFRVW 8QELOOHGUHFHLYDEOH 8QELOOHGUHFHLYDEOHVUHODWHGSDUWLHV UHIHUQRWH Contract assets Interest receivable ,QWHUHVWUHFHLYDEOHUHODWHGSDUWLHV UHIHUQRWH 5 Security deposits 6HFXULW\GHSRVLWVUHODWHGSDUWLHV UHIHUQRWH 7 )LQDQFHOHDVHUHFHLYDEOHV>UHIHUQRWH E @ 88 Other receivables &DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @

&DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @ 79

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 2WKHUQRQFXUUHQWDVVHWV

As at 0DUFK 0DUFK 8QVHFXUHGFRQVLGHUHGJRRG Capital advances Advances other than capital advances Security deposits Others Prepaid expenses 3UHSDLGUHQWDOVIRUOHDVHKROGODQG UHIHUQRWH 3UHSDLGH[SHQVHVUHODWHGSDUWLHV UHIHUQRWH 7 'HIHUUHGFRQWUDFWFRVW UHIHUQRWH

,QYHQWRULHV

As at 0DUFK 0DUFK 6WRFNLQWUDGH 14

7UDGHUHFHLYDEOHV

As at 0DUFK 0DUFK 8QVHFXUHGFRQVLGHUHGJRRG UHIHUQRWHEHORZ 7UDGHUHFHLYDEOHVZKLFKKDYHVLJQL¿FDQWLQFUHDVHLQFUHGLWULVN 77 7UDGHUHFHLYDEOHVFUHGLWLPSDLUHG Impairment allowance for bad and doubtful debts

Note,QFOXGHVUHFHLYDEOHVIURPUHODWHGSDUWLHVDPRXQWLQJWR൘FURUHV 0DUFK൘FURUHV

&DVKDQGEDQNEDODQFHV

As at 0DUFK 0DUFK D &DVKDQGFDVKHTXLYDOHQWV %DODQFHZLWKEDQNV LQFXUUHQWDFFRXQWV GHSRVLWVZLWKRULJLQDOPDWXULW\RIOHVVWKDQPRQWKV Remittances in transit 9 8QFODLPHGGLYLGHQGDFFRXQW 5 5 E 2WKHUEDQNEDODQFHV 'HSRVLWVZLWKUHPDLQLQJPDWXULW\XSWRPRQWKV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHUFXUUHQWDVVHWV

As at 0DUFK 0DUFK 8QVHFXUHGFRQVLGHUHGJRRG Advances other than capital advances Security deposits $GYDQFHVWRVXSSOLHUUHODWHGSDUWLHV UHIHUQRWH 85 Advances to employees Advances to suppliers Others Deferred contract cost 'HIHUUHGFRQWUDFWFRVWUHODWHGSDUWLHV UHIHUQRWH Prepaid expenses 3UHSDLGUHQWDOVIRUOHDVHKROGODQG UHIHUQRWH 3UHSDLGH[SHQVHVUHODWHGSDUWLHV UHIHUQRWH *RRGVDQGVHUYLFHWD[UHFHLYDEOH 59 Other advances 8QVHFXUHGFRQVLGHUHGGRXEWIXO Advances other than capital advances Advances to employees Other advances 7 5 Less: Provision for doubtful advances - -

6KDUHFDSLWDO

As at 0DUFK 0DUFK $XWKRUL]HG 0DUFK HTXLW\VKDUHVRI൘HDFK ,VVXHGVXEVFULEHGDQGIXOO\SDLGXS 0DUFK HTXLW\VKDUHVRI൘HDFK

7HUPVULJKWVDWWDFKHGWRHTXLW\VKDUHV 7KH&RPSDQ\KDVRQO\RQHFODVVRIVKDUHVUHIHUUHGWRDVHTXLW\VKDUHVKDYLQJDSDUYDOXHRI൘(DFKKROGHURIHTXLW\VKDUHVLV HQWLWOHGWRRQHYRWHSHUVKDUH ,QWKHHYHQWRIOLTXLGDWLRQRIWKH&RPSDQ\WKHKROGHUVRIHTXLW\VKDUHVZLOOEHHQWLWOHGWRUHFHLYHWKHUHPDLQLQJDVVHWVRIWKH&RPSDQ\ DIWHUGLVWULEXWLRQRIDOOSUHIHUHQWLDODPRXQWV7KHGLVWULEXWLRQZLOOEHLQSURSRUWLRQWRWKHQXPEHURIHTXLW\VKDUHVKHOGE\WKHVKDUHKROGHUV

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

5HFRQFLOLDWLRQRIWKHQXPEHURIVKDUHVRXWVWDQGLQJDWWKHEHJLQQLQJDQGDWWKHHQGRIWKH¿QDQFLDO\HDU

As at 0DUFK 0DUFK No. of shares ൘ in Crores No. of shares ൘ in Crores Number of shares at the beginning Add: Shares issued on exercise of employee stock options $GG%RQXVVKDUHLVVXHG Less: Shares extinguished on buyback (7) Number of shares at the end

7KH&RPSDQ\GRHVQRWKDYHDQ\KROGLQJXOWLPDWHKROGLQJFRPSDQ\ 'HWDLOVRIVKDUHKROGHUVKROGLQJPRUHWKDQVKDUHVLQWKHFRPSDQ\

As at 0DUFK 0DUFK 1DPHRIWKHVKDUHKROGHU No. of shares KROGLQJLQ No. of shares KROGLQJLQ WKHFODVV WKHFODVV (TXLW\VKDUHVRI൘HDFKIXOO\SDLG 9DPD6XQGDUL,QYHVWPHQWV 'HOKL 3ULYDWH/LPLWHG HCL Holdings Private Limited

As per the records of the Company, including its register of shareholders/members and other declarations received from shareholders UHJDUGLQJEHQH¿FLDOLQWHUHVWWKHDERYHVKDUHKROGLQJUHSUHVHQWVERWKOHJDODQGEHQH¿FLDORZQHUVKLSRIVKDUHV Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period RI¿YH\HDUVLPPHGLDWHO\SUHFHGLQJWKHUHSRUWLQJGDWH

As at 0DUFK 0DUFK Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being received in (TXLW\VKDUHV (TXLW\VKDUHV FDVK Aggregate number and class of shares allotted as fully paid up E\ZD\RIERQXVVKDUHV (TXLW\6KDUHV (TXLW\6KDUHV

Aggregate number and class of shares bought back (TXLW\6KDUHV (TXLW\6KDUHV

'XULQJWKHSUHYLRXV\HDUHQGHG0DUFKWKH&RPSDQ\FDUULHGRXWWKHVKDUHEX\EDFNRIIXOO\SDLGXSHTXLW\VKDUHVRI IDFHYDOXHRI൘HDFKDWDSULFHRI൘SHUVKDUHSDLGLQFDVKIRUDQDJJUHJDWHFRQVLGHUDWLRQRI൘FURUHV6DPHZDVUHFRUGHGDV UHGXFWLRQLQHTXLW\VKDUHFDSLWDOE\൘FURUHVVHFXULWLHVSUHPLXPE\൘FURUHVJHQHUDOUHVHUYHE\൘FURUHVDQGUHWDLQHGHDUQLQJV E\൘FURUHV$VUHTXLUHGE\WKH&RPSDQLHV$FWFDSLWDOUHGHPSWLRQUHVHUYHRI൘FURUHVZDVFUHDWHGRXWRIUHWDLQHGHDUQLQJV WRWKHH[WHQWRIVKDUHFDSLWDOH[WLQJXLVKHG7KHH[SHQVHVRI൘FURUHVUHODWLQJWREX\EDFNZDVDGMXVWHGDJDLQVWUHWDLQHGHDUQLQJV

&DSLWDOPDQDJHPHQW

7KHSULPDU\REMHFWLYHRIWKH&RPSDQ\¶VFDSLWDOPDQDJHPHQWLVWRVXSSRUWEXVLQHVVFRQWLQXLW\DQGJURZWKRIWKHFRPSDQ\ZKLOHPD[LPL]LQJ WKH VKDUHKROGHU YDOXH7KH FRPSDQ\ KDV EHHQ GHFODULQJ TXDUWHUO\ GLYLGHQG IRU ODVW \HDUV7KH &RPSDQ\ GHWHUPLQHV WKH FDSLWDO UHTXLUHPHQWEDVHGRQDQQXDORSHUDWLQJSODQVORQJWHUPDQGRWKHUVWUDWHJLFLQYHVWPHQWSODQV7KHIXQGLQJUHTXLUHPHQWVDUHJHQHUDOO\ PHWWKURXJKRSHUDWLQJFDVKÀRZVJHQHUDWHG

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

(PSOR\HH6WRFN2SWLRQ3ODQ (623

7KH&RPSDQ\KDVSURYLGHGVKDUHEDVHGSD\PHQWVFKHPHVWRLWVHPSOR\HHV'XULQJWKH\HDUHQGHG0DUFKDQGWKH following scheme was in operation:

(DFKRSWLRQJUDQWHGXQGHUWKHDERYHSODQVHQWLWOHVWKHKROGHUWRVL[WHHQHTXLW\VKDUHV HLJKWHTXLW\VKDUHERQXVLVVXH RIWKH &RPSDQ\DWDQH[HUFLVHSULFHZKLFKLVDSSURYHGE\WKH1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHH7KHDERYHSODQZDVFORVHGRQ 'HFHPEHU

7KHGHWDLOVRIDFWLYLW\XQGHUWKHSODQKDVEHHQVXPPDUL]HGEHORZ

7KHZHLJKWHGDYHUDJHRSWLRQSULFHDWWKHGDWHRIH[HUFLVHIRUVWRFNRSWLRQVH[HUFLVHGGXULQJWKH\HDUZDV൘ 0DUFK൘

The details of exercise price for outstanding stock options is as below:

:HLJKWHG DYHUDJH :HLJKWHG 1XPEHU Range of UHPDLQLQJ DYHUDJH 1DPHRIWKHSODQ of options H[HUFLVHSULFHV FRQWUDFWXDOOLIH H[HUFLVHSULFH RXWVWDQGLQJ of options ൘ LQ\HDUV (PSOR\HHVWRFNRSWLRQSODQ 0DUFK ൘ 0DUFK ൘

7KHUHDUHQRRSWLRQVJUDQWHGGXULQJWKHFXUUHQW\HDUDQGSUHYLRXV\HDU

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

%RUURZLQJV

1RQFXUUHQW Current As at As at 0DUFK 0DUFK 0DUFK 0DUFK /RQJWHUPERUURZLQJV 6HFXUHG 7HUPORDQIURPEDQNV UHIHUQRWHEHORZ 8QVHFXUHG 7HUPORDQVIURPEDQNV UHIHUQRWHEHORZ &XUUHQWPDWXULWLHVRIORQJWHUPERUURZLQJVGLVFORVHG XQGHU1RWH³2WKHU¿QDQFLDOOLDELOLWLHV´ - -

1RWH 7KH&RPSDQ\KDVDYDLOHGWHUPORDQVRI൘FURUHV 0DUFK൘FURUHV VHFXUHGDJDLQVWJURVVEORFNRIYHKLFOHVRI൘ FURUHV 0DUFK൘FURUHV DWLQWHUHVWUDWHVUDQJLQJIURPSDWRSD7KHORDQVDUHUHSD\DEOHRYHUDSHULRG RIWR\HDUVRQDPRQWKO\EDVLV $QXQVHFXUHGORQJWHUPORDQRI൘FURUHV 0DUFK1LO ERUURZHGIURPEDQNVDWLQWHUHVWUDWHSD7KHVFKHGXOHG principal repayments of loans are as follows:

As at 0DUFK 0DUFK Two to three years 7KUHHWR¿YH\HDUV -

2WKHU¿QDQFLDOOLDELOLWLHV

As at 0DUFK 0DUFK 1RQFXUUHQW &DUULHGDWDPRUWL]HGFRVW Employee bonuses accrued Deferred consideration

&DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @ 1 Current &DUULHGDWDPRUWL]HGFRVW Current maturities of long term borrowings Interest accrued but not due on borrowings 8QFODLPHGGLYLGHQGV 5 5 Deferred consideration $FFUXHGVDODULHVDQGEHQH¿WV Employee bonuses accrued Other employee costs

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

As at 0DUFK 0DUFK Others Liabilities for expenses /LDELOLWLHVIRUH[SHQVHVUHODWHGSDUWLHV UHIHUQRWH Capital accounts payables >LQFOXGHVVXSSOLHUFUHGLW൘FURUHV 0DUFK൘FURUHV @ &DSLWDODFFRXQWVSD\DEOHVUHODWHGSDUWLHV >LQFOXGHVVXSSOLHUFUHGLW൘FURUHV 0DUFK൘FURUHV @ UHIHUQRWH Supplier credit 6XSSOLHUFUHGLWUHODWHGSDUWLHV UHIHUQRWH Other payables 7 &DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @ &DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @ 5

3URYLVLRQV

As at 0DUFK 0DUFK Non - Current 3URYLVLRQIRUHPSOR\HHEHQH¿WV 3URYLVLRQIRUJUDWXLW\ UHIHUQRWH 3URYLVLRQIRUOHDYHEHQH¿WV 3URYLVLRQIRUSURYLGHQWIXQGOLDELOLWLHV UHIHUQRWH Current 3URYLVLRQIRUHPSOR\HHEHQH¿WV 3URYLVLRQIRUJUDWXLW\ UHIHUQRWH 3URYLVLRQIRUOHDYHEHQH¿WV 89 141

2WKHUQRQFXUUHQWOLDELOLWLHV

As at 0DUFK 0DUFK &RQWUDFWOLDELOLWLHV UHIHUQRWH &RQWUDFWOLDELOLWLHVUHODWHGSDUWLHV UHIHUQRWHDQG 5 Others

7UDGHSD\DEOHV

As at 0DUFK 0DUFK Trade payables 7UDGHSD\DEOHVUHODWHGSDUWLHV UHIHUQRWH

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHUFXUUHQWOLDELOLWLHV

As at 0DUFK 0DUFK &RQWUDFWOLDELOLWLHV UHIHUQRWH &RQWUDFWOLDELOLWLHVUHODWHGSDUWLHV UHIHUQRWHDQG Other Advances Advances received from customers $GYDQFHVUHFHLYHGIURPFXVWRPHUVUHODWHGSDUWLHV UHIHUQRWH Others :LWKKROGLQJDQGRWKHUWD[HVSD\DEOH

5HYHQXHIURPRSHUDWLRQV

'LVDJJUHJDWH5HYHQXH,QIRUPDWLRQ The disaggregated revenue from contracts with the customers as follow:

Geography wise America Europe ,QGLD Rest of world

LQFOXGHVUHYHQXHELOOHGWR,QGLDEDVHGFDSWLYHRIJOREDOFXVWRPHUV

5HPDLQLQJSHUIRUPDQFHREOLJDWLRQV $VDW0DUFKWKHDJJUHJDWHDPRXQWRIWUDQVDFWLRQSULFHDOORFDWHGWRUHPDLQLQJSHUIRUPDQFHREOLJDWLRQVDVSHUWKHUHTXLUHPHQWV RI,QG$6ZDV൘FURUHV 0DUFK൘FURUHV RXWRIZKLFKDSSUR[LPDWHO\ 0DUFK LVH[SHFWHG WREHUHFRJQL]HGDVUHYHQXHVZLWKLQRQH\HDUDQGWKHEDODQFHEH\RQGRQH\HDU7KLVLVDIWHUH[FOXVLRQVDVEHORZ a) Contracts for which we recognize revenues based on the right to invoice for services performed, E 9DULDEOHFRQVLGHUDWLRQDOORFDWHGHQWLUHO\WRDZKROO\XQVDWLV¿HGSHUIRUPDQFHREOLJDWLRQRUWRDZKROO\XQVDWLV¿HGSURPLVHWRWUDQVIHU a distinct good or service that forms part of a single performance obligation,or F 9DULDEOHFRQVLGHUDWLRQLQWKHIRUPRIDVDOHVEDVHGRUXVDJHEDVHGUR\DOW\SURPLVHGLQH[FKDQJHIRUDOLFHQVHRILQWHOOHFWXDOSURSHUW\

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

&RQWUDFWEDODQFHV &RQWUDFWDVVHWV$FRQWUDFWDVVHWLVDULJKWWRFRQVLGHUDWLRQWKDWLVFRQGLWLRQDOXSRQIDFWRUVRWKHUWKDQWKHSDVVDJHRIWLPH&RQWUDFW DVVHWVDUHUHFRJQL]HGZKHUHWKHUHLVH[FHVVRIUHYHQXHRYHUWKHELOOLQJV5HYHQXHUHFRJQL]HGEXWQRWELOOHGWRFXVWRPHUVLVFODVVL¿HG HLWKHUDVFRQWUDFWDVVHWVRUXQELOOHGUHFHLYDEOHLQRXUEDODQFHVKHHW&RQWUDFWDVVHWVSULPDULO\UHODWHWRXQELOOHGDPRXQWVRQ¿[HGSULFH FRQWUDFWVXVLQJWKHFRVWWRFRVWPHWKRGRIUHYHQXHUHFRJQLWLRQ8QELOOHGUHFHLYDEOHVUHSUHVHQWFRQWUDFWVZKHUHULJKWWRFRQVLGHUDWLRQLV XQFRQGLWLRQDO LHRQO\WKHSDVVDJHRIWLPHLVUHTXLUHGEHIRUHWKHSD\PHQWLVGXH 2XWRI൘FURUHVRIFRQWUDFWDVVHWVDVRQ0DUFKSHUWDLQWRFXUUHQW\HDU

&RQWUDFWOLDEOLWLHV$FRQWUDFWOLDELOLW\DULVHVZKHQWKHUHLVH[FHVVELOOLQJRYHUWKHUHYHQXHUHFRJQL]HG The below table discloses the movement in the balance of contract liabilities :

'HIHUUHGFRQWUDFWFRVW'HIHUUHGFRQWUDFWFRVWUHSUHVHQWVWKHFRQWUDFWIXO¿OPHQWFRVWDQGFRVWIRUREWDLQLQJWKHFRQWUDFW

7KHEHORZWDEOHGLVFORVHVWKHVLJQL¿FDQWPRYHPHQWLQGHIHUUHGFRQWUDFWFRVW

7KHFRPSDQ\KDVHYDOXDWHGWKHLPSDFWRI&29,'UHVXOWLQJIURP D LQFUHDVHLQFRVWEXGJHWRI¿[HGSULFHSURMHFWVGXHWRDGGLWLRQDO HIIRUWV E RQHURXVSURMHFWV F SHQDOWLHVIRUQRWPHHWLQJ6/$V G YROXPHGLVFRXQWV H WHUPLQDWLRQGHIHUPHQWRISURMHFWVWRHQVXUH WKDWUHYHQXHLVUHFRJQLVHGDIWHUFRQVLGHULQJDOOWKHVHLPSDFWVWRWKHH[WHQWNQRZQDQGDYDLODEOHFXUUHQWO\:HZRXOGFRQWLQXHWRDVVHVV &29,'LPSDFWDVZHJRDORQJGXHWRXQFHUWDLQWLHVDVVRFLDWHGZLWKLWQDWXUHDQGGXUDWLRQ

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 2WKHULQFRPH

1RWH1HWRIORVVRQVDOHRISURSHUW\SODQW HTXLSPHQW൘FURUHV SUHYLRXV\HDU൘FURUHV

&KDQJHVLQLQYHQWRULHVRIVWRFNLQWUDGH

(PSOR\HHEHQH¿WVH[SHQVH

)LQDQFHFRVW

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHUH[SHQVHV

,QFRPHWD[HV

7KHUHFRQFLOLDWLRQEHWZHHQWKH&RPSDQ\¶VSURYLVLRQIRULQFRPHWD[DQGDPRXQWFRPSXWHGE\DSSO\LQJWKHVWDWXWRU\LQFRPHWD[UDWHLQ India is as follows:

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHFRPSDQ\KDVEHQH¿WHGIURPFHUWDLQWD[LQFHQWLYHVWKDWWKH*RYHUQPHQWRI,QGLDKDVSURYLGHGIRUWKHXQLWVVLWXDWHGLQ6SHFLDO(FRQRPLF =RQHV 6(=V XQGHUWKH6SHFLDO(FRQRPLF=RQH$FWZKLFKEHJDQSURYLGLQJVHUYLFHVRQRUDIWHU$SULO7KHHOLJLEOHXQLWVDUH HOLJLEOHIRUDGHGXFWLRQRIRISUR¿WVRUJDLQVGHULYHGIURPWKHH[SRUWRIVHUYLFHVIRUWKH¿UVW¿YH\HDUVIURPFRPPHQFHPHQWRISURYLVLRQ RIVHUYLFHVDQGRIVXFKSUR¿WVDQGJDLQVIRUDIXUWKHU¿YH\HDUV&HUWDLQWD[EHQH¿WVDUHDOVRDYDLODEOHIRUDIXUWKHU¿YH\HDUVVXEMHFW WRWKHXQLWPHHWLQJGH¿QHGFRQGLWLRQV7KHDIRUHVDLGWD[EHQH¿WVZLOOQRWEHDYDLODEOHWR8QLWVFRPPHQFLQJRSHUDWLRQVDIWHU-XQH

7KH&RPSDQ\LVVXEMHFWWR0LQLPXP$OWHUQDWH7D[ 0$7 RQLWVERRNSUR¿WVZKLFKJLYHVULVHWRIXWXUHHFRQRPLFEHQH¿WVLQWKHIRUPRI DGMXVWPHQWRIIXWXUHLQFRPHWD[OLDELOLW\0$7SDLGIRUD\HDUFDQEHVHWRIIDJDLQVWWKHQRUPDOWD[OLDELOLW\ZLWKLQ¿IWHHQVXEVHTXHQW\HDUV H[SLULQJEHWZHHQWKH\HDUVWR

%HJLQQLQJZLWKFXUUHQW\HDUFRUSRUDWHWD[SD\HUVFDQRSWIRUDVSHFL¿HGORZHUWD[UDWHLQOLHXRIFXUUHQWDSSOLFDEOHWD[UDWHVXEMHFWWR WD[SD\HUVQRWFODLPLQJDQ\VSHFL¿HGWD[LQFHQWLYHVLQFOXGLQJWD[LQFHQWLYHVDYDLODEOHWRVSHFLDOHFRQRPLF]RQHXQLWVDQGFDUU\RYHURI XQXWLOL]HG0$7FUHGLW7KH&RPSDQ\LQWHQGVWRRSWIRUORZHUWD[UDWHIURPE\ZKHQWKH&RPSDQ\LVH[SHFWHGWRXWLOL]HWKHHQWLUH XQXWLOL]HG0$7FUHGLW7KH&RPSDQ\KDVUHVWDWHGLWVGHIHUUHGWD[OLDELOLWLHVDVVHWVEDODQFHVZKLFKDUHH[SHFWHGWRUHYHUVHLQWKHSHULRG DIWHUWKH&RPSDQ\RSWVIRUORZHUFRUSRUDWHWD[UDWH

&RPSRQHQWVRIGHIHUUHGWD[DVVHWVDQGOLDELOLWLHVDVRQ0DUFK

5HFRJQL]HG 5HFRJQL]HG Opening LQ ([FKDQJH Closing LQSUR¿WDQG $FTXLVLWLRQV EDODQFH loss UHFODVVL¿HG GLIIHUHQFH EDODQFH IURP2&, 'HIHUUHGWD[DVVHWV 0$7FUHGLWHQWLWOHPHQW Provision for doubtful debts 77 Accrued employee costs 7 8QUHDOL]HGORVVRQGHULYDWLYH ¿QDQFLDOLQVWUXPHQWV 3URSHUW\SODQWDQGHTXLSPHQW 8 (8) Others 59 *URVVGHIHUUHGWD[DVVHWV $ - 'HIHUUHGWD[OLDELOLWLHV 3URSHUW\SODQWDQGHTXLSPHQW 55 Intangibles 8QUHDOL]HGJDLQRQGHULYDWLYH ¿QDQFLDOLQVWUXPHQWV Others 7 *URVVGHIHUUHGWD[OLDELOLWLHV % - - 747 1HWGHIHUUHGWD[DVVHWV $% -

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

&RPSRQHQWVRIGHIHUUHGWD[DVVHWVDQGOLDELOLWLHVDVRQ0DUFK

5HFRJQL]HG 5HFRJQL]HG Opening LQ ([FKDQJH Closing LQSUR¿WDQG $FTXLVLWLRQV EDODQFH loss UHFODVVL¿HG GLIIHUHQFH EDODQFH IURP2&, 'HIHUUHGWD[DVVHWV 0$7FUHGLWHQWLWOHPHQW Provision for doubtful debts Accrued employee costs 3URSHUW\SODQWDQGHTXLSPHQW 8 Others *URVVGHIHUUHGWD[DVVHWV $ - - - 'HIHUUHGWD[OLDELOLWLHV 3URSHUW\SODQWDQGHTXLSPHQW 55 8QUHDOL]HGJDLQRQGHULYDWLYH ¿QDQFLDOLQVWUXPHQWV Others 8 7 *URVVGHIHUUHGWD[OLDELOLWLHV % 7 - - 1HWGHIHUUHGWD[DVVHWV $% - -

&RPSRQHQWVRIRWKHUFRPSUHKHQVLYHLQFRPH

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH (DUQLQJVSHUVKDUH The computation of earnings per share is as follows:

DGMXVWHGIRUERQXVLVVXH UHIHUQRWH

/HDVHV

D &RPSDQ\DVDOHVVHH 7KH&RPSDQ\¶VVLJQL¿FDQWOHDVLQJDUUDQJHPHQWVDUHLQUHVSHFWRIOHDVHVIRURI¿FHVSDFHVDFFRPPRGDWLRQIRULWVHPSOR\HHVDQG OHDVHKROGODQG 7KHGHWDLOVRIWKHULJKWRIXVHDVVHWKHOGE\WKH&RPSDQ\LVDVIROORZV

/HDVHKROG %XLOGLQJV Total ODQG %DODQFHDVDW$SULO 7UDQVLWLRQLPSDFWRI,QG$6 UHIHUQRWH O Depreciation charge for the year Additions Derecognition Translation exchange differences %DODQFHDVDW0DUFK

The reconciliation of lease liabilities is as follows:

Total %DODQFHDVDW$SULO - 7UDQVLWLRQLPSDFWRI,QG$6 UHIHUQRWH O Additions $PRXQWVUHFRJQL]HGLQVWDWHPHQWRISUR¿WDQGORVVDVLQWHUHVWH[SHQVH Payment of lease liabilities Derecognition Translation exchange differences %DODQFHDVDW0DUFK

7KHOHDVHUHQWDOH[SHQVHUHODWLQJWRVKRUWWHUPOHDVHVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVIRUWKH\HDUDPRXQWHGWR൘FURUHV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 7KHIROORZLQJWDEOHSUHVHQWVDPDWXULW\DQDO\VLVRIH[SHFWHGXQGLVFRXQWHGFDVKÀRZVIRUOHDVHOLDELOLWLHVDVRQ0DUFK

As at 0DUFK :LWKLQRQH\HDU One to two years Two to three years 7KUHHWR¿YH\HDUV Thereafter 7RWDOOHDVHSD\PHQWV Imputed interest 7RWDOOHDVHOLDELOLWLHV

&HUWDLQOHDVHDJUHHPHQWVLQFOXGHRSWLRQVWRWHUPLQDWHRUH[WHQGWKHOHDVHV7KHOHDVHDJUHHPHQWVGRQRWFRQWDLQDQ\PDWHULDO UHVLGXDOYDOXHJXDUDQWHHVRUPDWHULDOUHVWULFWLYHFRYHQDQWV

0RVWRIWKHOHDVHVHQWHUHGE\WKH&RPSDQ\DUHORQJWHUPLQQDWXUHDQGWKHXQGHUO\LQJOHDVHGSURSHUWLHVDUHEHLQJXVHGDVGHOLYHU\ FHQWHUVRURI¿FHV7KH&RPSDQ\GRHVQ¶WIRUHVHHDQ\PDMRUFKDQJHVLQOHDVHWHUPVRUWKHOHDVHVLQWKHIRUHVHHDEOHIXWXUHDVSHU FXUUHQWEXVLQHVVSURMHFWLRQVDIWHUFRQVLGHULQJWKHLPSDFWRI&29,'

'XULQJWKHSUHYLRXV\HDUHQGHG0DUFKWKHDJJUHJDWHOHDVHUHQWDOH[SHQVHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV DVSHU,QG$6DPRXQWHGWR൘FURUHVDQGWKHOHDVHHTXDOL]DWLRQDPRXQWIRUQRQFDQFHOODEOHRSHUDWLQJOHDVHSD\DEOHLQIXWXUH \HDUVDQGDFFRXQWHGIRUE\WKH&RPSDQ\ZDV൘FURUHV

)XWXUHPLQLPXPOHDVHSD\PHQWVDQGWKHSD\PHQWSUR¿OHRIQRQFDQFHOODEOHRSHUDWLQJOHDVHVDVSHU,QG$6DVRQ0DUFK are as follows:

Total Not later than one year Later than one year and not later than 5 years /DWHUWKDQ¿YH\HDUV

E &RPSDQ\DVDOHVVRU

7KH&RPSDQ\KDVJLYHQ,7HTXLSPHQWVWRLWVFXVWRPHUVRQD¿QDQFHOHDVHEDVLV7KHIXWXUHOHDVHUHFHLYDEOHVLQUHVSHFWRIDVVHWV JLYHQRQ¿QDQFHOHDVHDUHDVIROORZV

,QWHUHVWLQFOXGHG 3UHVHQWYDOXH 7RWDOPLQLPXP LQPLQLPXP RIPLQLPXP OHDVHSD\PHQWV OHDVHSD\PHQWV OHDVHSD\PHQWV UHFHLYDEOH UHFHLYDEOH UHFHLYDEOH $VDW0DUFK Not later than one year 89 88 Later than one year and not later than 5 years 5 $VDW0DUFK Not later than one year Later than one year and not later than 5 years 75

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH )LQDQFLDOLQVWUXPHQWV D 'HULYDWLYHV 7KH&RPSDQ\LVH[SRVHGWRIRUHLJQFXUUHQF\ÀXFWXDWLRQVRQIRUHLJQFXUUHQF\DVVHWVOLDELOLWLHVDQGIRUHFDVWFDVKÀRZVGHQRPLQDWHG LQIRUHLJQFXUUHQF\7KHXVHRIGHULYDWLYHVWRKHGJHIRUHLJQFXUUHQF\IRUHFDVWFDVKÀRZVLVJRYHUQHGE\WKH&RPSDQ\¶VVWUDWHJ\ ZKLFKSURYLGHVSULQFLSOHVRQWKHXVHRIVXFKIRUZDUGFRQWUDFWVDQGFXUUHQF\RSWLRQVFRQVLVWHQWZLWKWKH&RPSDQ\¶V5LVN0DQDJHPHQW 3ROLF\7KHFRXQWHUSDUW\LQWKHVHGHULYDWLYHLQVWUXPHQWVLVDEDQNDQGWKH&RPSDQ\FRQVLGHUVWKHULVNVRIQRQSHUIRUPDQFHE\WKH FRXQWHUSDUW\DVLQVLJQL¿FDQW7KH&RPSDQ\KDVHQWHUHGLQWRDVHULHVRIIRUHLJQH[FKDQJHIRUZDUGFRQWUDFWVDQGRSWLRQVWKDWDUH GHVLJQDWHGDVFDVKÀRZKHGJHVDQGWKHUHODWHGIRUHFDVWHGWUDQVDFWLRQVH[WHQGWKURXJK)HEUXDU\7KH&RPSDQ\GRHVQRWXVH IRUZDUGFRYHUVDQGFXUUHQF\RSWLRQVIRUVSHFXODWLYHSXUSRVHV The following table presents the aggregate notional principal amounts of the outstanding derivative forward covers together with the related balance sheet exposure:

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH )RUHLJQH[FKDQJHIRUZDUG Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ GHQRPLQDWHGLQ FXUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK 6HOOFRYHUV 86',15 86' *%3,15 *%3 5 (85,15 (85 CHF / INR CHF 7 6(.,15 6(. $8',15 $8' 9 12.,15 12. 8 CAD / INR CAD 5 JPY / INR JPY *%386' *%3 8 12.86' 12. 1='86' NZD -3<86' JPY 58%86' 58% $8'86' $8' &+)86' CHF (8586' (85 =$586' ZAR 0;186' 0;1 %X\FRYHUV *%386' *%3 6(.86' 6(. (8586' (85 -3<86' JPY 12.86' 12.

The following table presents the aggregate notional principal amounts of the outstanding forward options together with the related balance sheet exposure:

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ FXUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK 5DQJHIRUZDUG 6HOOFRYHUV 86',15 86' *%3,15 *%3 (85,15 (85 $8',15 $8' CHF / INR CHF

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ FXUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK (8586' (85 6(.,15 6(. 387 6HOOFRYHUV 86',15 86' 6HDJXOO %X\FRYHUV 86',15 86' 6HDJXOO 6HOOFRYHUV *%386' *%3 86',15 86' (85,15 (85

7KHQRWLRQDODPRXQWLVDNH\HOHPHQWRIGHULYDWLYH¿QDQFLDOLQVWUXPHQWDJUHHPHQWV+RZHYHUQRWLRQDODPRXQWVGRQRWUHSUHVHQW WKHDPRXQWH[FKDQJHGE\FRXQWHUSDUWLHVDQGGRQRWPHDVXUHWKH&RPSDQ\¶VH[SRVXUHWRFUHGLWULVNDVWKHVHFRQWUDFWVDUHVHWWOHG DWWKHLUIDLUYDOXHVDWWKHPDWXULW\GDWH

7KH EDODQFH VKHHW H[SRVXUH GHQRWHV WKH IDLU YDOXHV RI WKHVH FRQWUDFWV DW WKH UHSRUWLQJ GDWH DQG LV SUHVHQWHG LQ ൘ FURUHV7KH &RPSDQ\SUHVHQWVLWVIRUHLJQH[FKDQJHGHULYDWLYHLQVWUXPHQWVRQDQHWEDVLVLQWKH¿QDQFLDOVWDWHPHQWVGXHWRWKHULJKWRIRIIVHWE\ LWVLQGLYLGXDOFRXQWHUSDUWLHVXQGHUPDVWHUQHWWLQJDJUHHPHQWV

The fair value of the derivative instruments presented on a gross basis as at each date indicated below is as follows:

$VDW0DUFK )LQDQFLDODVVHWV )LQDQFLDOOLDELOLWLHV Total fair Non Non Current Current YDOXH FXUUHQW FXUUHQW 'HULYDWLYHVGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV Foreign exchange contracts in an asset position 57 Foreign exchange contracts in an liability position (55) Net asset (liability) 'HULYDWLYHVQRWGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV Foreign exchange contracts in an asset position 9 Foreign exchange contracts in an liability position (9) Net asset (liability) (5) 7RWDOGHULYDWLYHVDWIDLUYDOXH -

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

$VDW0DUFK )LQDQFLDODVVHWV )LQDQFLDOOLDELOLWLHV Total fair Non Non Current Current YDOXH FXUUHQW FXUUHQW 'HULYDWLYHVQRWGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV Foreign exchange contracts in an asset position 7 Foreign exchange contracts in an liability position (7) (7) Net asset (liability) 79 79 7RWDOGHULYDWLYHVDWIDLUYDOXH - -

The following tables set forth the fair value of derivative instruments included in the balance sheets as at each date indicated:

As at 0DUFK 0DUFK 'HULYDWLYHVGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV 8QUHDOL]HGJDLQRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWDVVHWV 8QUHDOL]HGJDLQRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUQRQFXUUHQWDVVHWV 8QUHDOL]HGORVVRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWOLDELOLWLHV 8QUHDOL]HGORVVRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUQRQFXUUHQWOLDELOLWLHV 'HULYDWLYHVQRWGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV 8QUHDOL]HGJDLQRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWDVVHWV 79 8QUHDOL]HGORVVRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWOLDELOLWLHV (5) 47

0DWXULW\SUR¿OHRIGHULYDWLYHOLDELOLWLHVEDVHGRQFRQWUDFWXDOSD\PHQWVLVDVEHORZ

As at 0DUFK 0DUFK :LWKLQRQH\HDU One to two years 97 Two to three years 7KUHHWR¿YH\HDUV -

7KHIROORZLQJWDEOHVXPPDUL]HVWKHDFWLYLWLHVLQWKHVWDWHPHQWRISUR¿WDQGORVV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHIROORZLQJWDEOHVXPPDUL]HVWKHDFWLYLW\LQWKHDFFXPXODWHGµ2WKHUFRPSUHKHQVLYHLQFRPH¶ZLWKLQHTXLW\UHODWHGWRDOOGHULYDWLYHV FODVVL¿HGDVFDVKÀRZKHGJHV

7KHHVWLPDWHGQHWDPRXQWRIH[LVWLQJORVVWKDWLVH[SHFWHGWREHUHFODVVL¿HGLQWRWKHVWDWHPHQWRISUR¿WDQGORVVZLWKLQWKHQH[WWZHOYH PRQWKVLVRI൘FURUHV 0DUFKJDLQRI൘FURUHV

%DVLVWKH&RPSDQ\KHGJLQJSROLF\PDQDJHPHQWKDVSHUIRUPHGDVVHVVPHQWRI&29,'SDQGHPLF¶VLPSDFWIRUDQ\FKDQJHLQ probability of occurrence of the forecasted transactions, counter party credit risk and own credit risk, and believes that there is no LPSDFWRQHIIHFWLYHQHVVRILWVKHGJHV

E )LQDQFLDODVVHWVDQGOLDELOLWLHV

7KHFDUU\LQJYDOXHRI¿QDQFLDOLQVWUXPHQWVE\FDWHJRULHVDVDW0DUFKLVDVIROORZV

)DLUYDOXH )DLUYDOXH through Total $PRUWL]HG through other FDUU\LQJ FRVW SUR¿WDQGORVV FRPSUHKHQVLYH YDOXH LQFRPH )LQDQFLDODVVHWV Investments (other than in subsidiaries) Trade receivables &DVKDQGFDVKHTXLYDOHQWV Loans 2WKHUV UHIHUQRWH Total )LQDQFLDOOLDELOLWLHV %RUURZLQJV Trade payables Lease liabilities 2WKHUV UHIHUQRWH 5 Total

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHFDUU\LQJYDOXHRI¿QDQFLDOLQVWUXPHQWVE\FDWHJRULHVDVDW0DUFKLVDVIROORZV

)DLUYDOXH )DLUYDOXH through Total $PRUWL]HG through other FDUU\LQJ FRVW SUR¿WDQGORVV FRPSUHKHQVLYH YDOXH LQFRPH )LQDQFLDODVVHWV Investments (other than in subsidiaries) Trade receivables &DVKDQGFDVKHTXLYDOHQWV Other bank balances Loans 2WKHUV UHIHUQRWH 79 Total )LQDQFLDOOLDELOLWLHV %RUURZLQJV Trade payables 2WKHUV UHIHUQRWH Total - -

7UDQVIHURI¿QDQFLDODVVHWV 7KH&RPSDQ\DQGLWVVXEVLGLDULHVKDYHUHYROYLQJDFFRXQWVUHFHLYDEOHVEDVHGIDFLOLWLHVRI൘FURUHVSHUPLWWLQJLWWRVHOOFHUWDLQ DFFRXQWVUHFHLYDEOHVWREDQNVRQDQRQUHFRXUVHEDVLVLQWKHQRUPDOFRXUVHRIEXVLQHVV7KHDJJUHJDWHPD[LPXPFDSDFLW\XWLOL]HG E\WKH&RPSDQ\DWDQ\WLPHGXULQJWKH\HDUZDV൘FURUHV SUHYLRXV\HDU൘FURUHV 2XWVWDQGLQJXWLOL]DWLRQE\WKHFRPSDQ\ DJDLQVWWKLVIDFLOLW\DVRI0DUFKLV൘FURUHV 0DUFK൘FURUHV )DLUYDOXHKLHUDUFK\ 7KHDVVHWVDQGOLDELOLWLHVPHDVXUHGDWIDLUYDOXHRQDUHFXUULQJEDVLVDVDW0DUFKDQGWKHEDVLVIRUWKDWPHDVXUHPHQWLVDV below:

)DLUYDOXH /HYHOLQSXWV /HYHOLQSXWV /HYHOLQSXWV Assets ,QYHVWPHQWVFDUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV Investments carried at fair value through other comprehensive income 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV /LDELOLWLHV 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV

'XULQJWKH\HDUZHI-XO\WKHIDLUYDOXHRIFRUSRUDWHGHEWVHFXULWLHVLVGHWHUPLQHGXVLQJREVHUYDEOHPDUNHWV¶LQSXWVDQGLV FODVVL¿HGDV/HYHODVDJDLQVWHDUOLHUFODVVL¿FDWLRQDV/HYHO

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHIROORZLQJWDEOHGLVFORVHVWKHDVVHWVDQGOLDELOLWLHVPHDVXUHGDWIDLUYDOXHRQDUHFXUULQJEDVLVDVDW0DUFKDQGWKHEDVLV for that measurement:

/HYHO /HYHO /HYHO )DLUYDOXH inputs inputs inputs Assets ,QYHVWPHQWVFDUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV Investments carried at fair value through other comprehensive income 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV /LDELOLWLHV 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV

7KHUHKDYHEHHQQRWUDQVIHUVEHWZHHQ/HYHODQG/HYHOGXULQJWKH\HDU 9DOXDWLRQPHWKRGRORJLHV ,QYHVWPHQWV7KH&RPSDQ\¶VLQYHVWPHQWVFRQVLVWRILQYHVWPHQWLQGHEWOLQNHGPXWXDOIXQGVZKLFKDUHGHWHUPLQHGXVLQJTXRWHG SULFHVRULGHQWLFDOTXRWHGSULFHVRIDVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWVDQGDUHFODVVL¿HGDV/HYHO)DLUYDOXHRIFRUSRUDWHGHEW VHFXULWLHVLVGHWHUPLQHGXVLQJREVHUYDEOHPDUNHWV¶LQSXWVDQGLVFODVVL¿HGDV/HYHO 'HULYDWLYH ¿QDQFLDO LQVWUXPHQWV 7KH &RPSDQ\¶V GHULYDWLYH ¿QDQFLDO LQVWUXPHQWV FRQVLVW RI IRUHLJQ FXUUHQF\ IRUZDUG H[FKDQJH FRQWUDFWVDQGRSWLRQV)DLUYDOXHVIRUGHULYDWLYH¿QDQFLDOLQVWUXPHQWVDUHEDVHGRQEURNHUTXRWDWLRQVDQGDUHFODVVL¿HGDV/HYHO 7KH&RPSDQ\DVVHVVHGWKDWIDLUYDOXHRIFDVKDQGVKRUWWHUPGHSRVLWVWUDGHUHFHLYDEOHVWUDGHSD\DEOHVEDQNRYHUGUDIWVDQGRWKHU FXUUHQWOLDELOLWLHVDSSUR[LPDWHWKHLUFDUU\LQJDPRXQWVODUJHO\GXHWRWKHVKRUWWHUPPDWXULWLHVRIWKHVHLQVWUXPHQWV )LQDQFLDODVVHWVPHDVXUHGXVLQJOHYHOLQSXWVSULPDULO\LQFOXGHLQYHVWPHQWVHFXULWLHVLQOLTXLGGHEWIXQGVDQGWKHIDLUYDOXHEHLQJ PDUNHGWRDQDFWLYHPDUNHWZKLFKIDFWRUVWKHLPSDFWRI&29,'ZHGRQRWH[SHFWPDWHULDOYRODWLOLW\LQWKHVH¿QDQFLDODVVHWV )LQDQFLDODVVHWVDQGOLDELOLWLHVPHDVXUHGXVLQJOHYHOLQSXWVZKLFKLQFOXGHLQYHVWPHQWLQGHEWVHFXULWLHVDQGGHULYDWLYH¿QDQFLDO LQVWUXPHQWVDQG¿QDQFLDODVVHWVPHDVXUHGDWDPRUWLVHGFRVWZKLFKLQFOXGHFDVKDQGFDVKHTXLYDOHQWVDQGGHSRVLWVZLWKEDQNVDQG FRUSRUDWLRQVKDYHEHHQDVVHVVHGEDVLVFRXQWHUSDUW\FUHGLWULVN 7UDGHUHFHLYDEOHVXQELOOHGUHFHLYDEOHV¿QDQFHOHDVHUHFHLYDEOHVDQGFRQWUDFWDVVHWVKDYHEHHQYDOXHGDIWHUPDNLQJUHVHUYHIRU allowances based on the expected credit loss method, considering factors like ageing, likelihood of increased credit risk and expected UHDOL]DELOLW\QDWXUHRIFXVWRPHUYHUWLFDOVFRQVLGHULQJLPSDFWRI&29,'LPSDFWRQFXVWRPHUVDQGUHODWHGFXVWRPHUYHUWLFDOV F )LQDQFLDOULVNPDQDJHPHQW 7KH&RPSDQ\LVH[SRVHGWRPDUNHWULVNFUHGLWULVNDQGOLTXLGLW\ULVNZKLFKPD\LPSDFWWKHIDLUYDOXHRILWV¿QDQFLDOLQVWUXPHQWV7KH &RPSDQ\KDVDULVNPDQDJHPHQWSROLF\WRPDQDJH PLWLJDWHWKHVHULVNV 7KH&RPSDQ\¶VULVNPDQDJHPHQWSROLF\DLPVWRUHGXFHYRODWLOLW\LQ¿QDQFLDOVWDWHPHQWVZKLOHPDLQWDLQLQJEDODQFHEHWZHHQSURYLGLQJ SUHGLFWDELOLW\LQWKH&RPSDQ\¶VEXVLQHVVSODQDORQJZLWKUHDVRQDEOHSDUWLFLSDWLRQLQPDUNHWPRYHPHQW 0DUNHWULVN 0DUNHWULVNLVWKHULVNWKDWWKHIDLUYDOXHRIIXWXUHFDVKÀRZVRID¿QDQFLDOLQVWUXPHQWZLOOÀXFWXDWHEHFDXVHRIFKDQJHVLQPDUNHW SULFHV0DUNHWULVNFRPSULVHVRIFXUUHQF\ULVNDQGLQWHUHVWUDWHULVN7KH&RPSDQ\LVSULPDULO\H[SRVHGWRÀXFWXDWLRQLQIRUHLJQ FXUUHQF\H[FKDQJHUDWHV L )RUHLJQFXUUHQF\ULVN )RUHLJQFXUUHQF\ULVNLVWKHULVNWKDWWKHIDLUYDOXHRUIXWXUHFDVKÀRZVRIDQH[SRVXUHZLOOÀXFWXDWHEHFDXVHRIFKDQJHVLQ H[FKDQJHUDWHV7KH&RPSDQ\¶VH[SRVXUHWRWKHULVNRIFKDQJHVLQH[FKDQJHUDWHVUHODWHVSULPDULO\WRWKH&RPSDQ\¶VRSHUDWLRQV DQGWKH&RPSDQ\¶VQHWLQYHVWPHQWVLQIRUHLJQEUDQFKHV The exchange rate risk primarily arises from assets and liabilities denominated in currencies other than the functional currency of WKHUHVSHFWLYHEUDQFKHVDQGIRUHLJQFXUUHQF\IRUHFDVWHGUHYHQXHDQGFDVKÀRZV$VLJQL¿FDQWSRUWLRQRIWKH&RPSDQ\UHYHQXH LVLQ86'ROODU3RXQG6WHUOLQJ *%3 DQG(XURZKLOHDODUJHSRUWLRQRIFRVWVDUHLQ,QGLDQUXSHHV7KHÀXFWXDWLRQLQH[FKDQJH UDWHVLQUHVSHFWWRWKH,QGLDQUXSHHPD\KDYHSRWHQWLDOLPSDFWRQWKHVWDWHPHQWRISUR¿WDQGORVVDQGRWKHUFRPSUHKHQVLYH LQFRPHDQGHTXLW\

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 7RPLWLJDWHWKHIRUHLJQFXUUHQF\ULVNWKH&RPSDQ\XVHVGHULYDWLYHVDVJRYHUQHGE\WKH&RPSDQ\¶VVWUDWHJ\ZKLFKSURYLGHV SULQFLSOHVRQWKHXVHRIVXFKIRUZDUGFRQWUDFWVDQGFXUUHQF\RSWLRQVFRQVLVWHQWZLWKWKH&RPSDQ\¶V5LVN0DQDJHPHQW3ROLF\

$SSUHFLDWLRQGHSUHFLDWLRQRILQUHVSHFWLYHIRUHLJQFXUUHQFLHVZLWKUHVSHFWWRIXQFWLRQDOFXUUHQF\RIWKH&RPSDQ\DQGLWVEUDQFKHV ZRXOGUHVXOWLQGHFUHDVHLQFUHDVHLQWKH&RPSDQ\¶VSUR¿WEHIRUHWD[E\DSSUR[LPDWHO\൘FURUHVIRUWKH\HDUHQGHG0DUFK

The rate sensitivity is calculated by aggregation of the net foreign exchange rate exposure and a simultaneous parallel foreign H[FKDQJHUDWHVVKLIWRIDOOWKHFXUUHQFLHVE\DJDLQVWWKHUHVSHFWLYHIXQFWLRQDOFXUUHQFLHVRIWKH&RPSDQ\DQGLWVEUDQFKHV 7KHVHQVLWLYLW\DQDO\VLVSUHVHQWHGDERYHPD\QRWEHUHSUHVHQWDWLYHRIWKHDFWXDOFKDQJH

1RQGHULYDWLYHIRUHLJQFXUUHQF\H[SRVXUHDVRI0DUFKDQG0DUFKLQPDMRUFXUUHQFLHVLVDVEHORZ

1HW¿QDQFLDODVVHWV 1HW¿QDQFLDOOLDELOLWLHV 0DUFK 0DUFK 0DUFK 0DUFK 86',15 *%3,15 (852,15

LL ,QWHUHVWUDWHULVN ,QWHUHVWUDWHULVNLVWKHULVNWKDWWKHIDLUYDOXHRUIXWXUHFDVKÀRZVRID¿QDQFLDOLQVWUXPHQWZLOOÀXFWXDWHEHFDXVHRIFKDQJHVLQ PDUNHWLQWHUHVWUDWHV7KH&RPSDQ\¶VLQYHVWPHQWVDUHSULPDULO\LQ¿[HGUDWHLQWHUHVWEHDULQJLQYHVWPHQWV+HQFHWKH&RPSDQ\ LVQRWVLJQL¿FDQWO\H[SRVHGWRLQWHUHVWUDWHULVN &UHGLWULVN )LQDQFLDOLQVWUXPHQWVWKDWSRWHQWLDOO\VXEMHFWWKH&RPSDQ\WRFRQFHQWUDWLRQRIFUHGLWULVNFRQVLVWSULQFLSDOO\RIFDVKDQGEDQN EDODQFHVLQWHUFRUSRUDWHGHSRVLWVWUDGHUHFHLYDEOHVXQELOOHGUHFHLYDEOHV¿QDQFHOHDVHUHFHLYDEOHVLQYHVWPHQWVHFXULWLHVDQG GHULYDWLYHLQVWUXPHQWV7KHFDVKUHVRXUFHVRIWKH&RPSDQ\DUHLQYHVWHGZLWKPXWXDOIXQGVEDQNV¿QDQFLDOLQVWLWXWLRQVDQG FRUSRUDWLRQVDIWHUDQHYDOXDWLRQRIWKHFUHGLWULVN%\WKHLUQDWXUHDOOVXFK¿QDQFLDOLQVWUXPHQWVLQYROYHULVNVLQFOXGLQJWKHFUHGLW ULVNRIQRQSHUIRUPDQFHE\FRXQWHUSDUWLHV 7KHFXVWRPHUVRIWKH&RPSDQ\DUHSULPDULO\FRUSRUDWLRQVEDVHGLQWKH8QLWHG6WDWHVRI$PHULFDDQG(XURSHDQGDFFRUGLQJO\ WUDGH UHFHLYDEOHV DQG ¿QDQFH OHDVH UHFHLYDEOHV DUH FRQFHQWUDWHG LQ WKH UHVSHFWLYH FRXQWULHV 7KH &RPSDQ\ SHULRGLFDOO\ DVVHVVHVWKH¿QDQFLDOUHOLDELOLW\RIFXVWRPHUVWDNLQJLQWRDFFRXQWWKH¿QDQFLDOFRQGLWLRQFXUUHQWHFRQRPLFWUHQGVDQDO\VLVRI KLVWRULFDOEDGGHEWVDQGDJHLQJRIDFFRXQWVUHFHLYDEOHVXQELOOHGUHFHLYDEOHVDQG¿QDQFHOHDVHUHFHLYDEOHV The allowance for lifetime expected credit loss on customer balances is as below:

As at 0DUFK 0DUFK %DODQFHDWWKHEHJLQQLQJRIWKH\HDU Additional provision during the year Deductions on account of write offs and collections Effect of exchange rates changes %DODQFHDWWKHHQGRIWKH\HDU

/LTXLGLW\ULVN /LTXLGLW\ULVNLVWKHULVNWKDWWKH&RPSDQ\ZLOOHQFRXQWHUGLI¿FXOW\LQPHHWLQJLWVREOLJDWLRQVDVVRFLDWHGZLWK¿QDQFLDOOLDELOLWLHV7KH LQYHVWPHQWSKLORVRSK\RIWKH&RPSDQ\LVFDSLWDOSUHVHUYDWLRQDQGOLTXLGLW\LQSUHIHUHQFHWRUHWXUQV7KH&RPSDQ\FRQVLVWHQWO\ JHQHUDWHVVXI¿FLHQWFDVKÀRZVIURPRSHUDWLRQVDQGKDVDFFHVVWRPXOWLSOHVRXUFHVRIIXQGLQJWRPHHWWKH¿QDQFLDOREOLJDWLRQV DQGPDLQWDLQDGHTXDWHOLTXLGLW\IRUXVH

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

0DWXULW\SUR¿OHRIWKH&RPSDQ\¶V¿QDQFLDOOLDELOLWLHVEDVHGRQFRQWUDFWXDOSD\PHQWVLVDVEHORZ

Year 1

(PSOR\HHEHQH¿WV 7KH&RPSDQ\KDVFDOFXODWHGWKHYDULRXVEHQH¿WVSURYLGHGWRHPSOR\HHVDVJLYHQEHORZ $ 'H¿QHGFRQWULEXWLRQSODQVDQGVWDWHSODQV Superannuation Fund (PSOR\HU¶VFRQWULEXWLRQWR(PSOR\HHV6WDWH,QVXUDQFH (PSOR\HU¶VFRQWULEXWLRQWR(PSOR\HH3HQVLRQ6FKHPH 'XULQJWKH\HDUWKH&RPSDQ\KDVUHFRJQL]HGWKHIROORZLQJDPRXQWVLQWKHVWDWHPHQWRISUR¿WDQGORVV

7KH&RPSDQ\KDVFRQWULEXWHG൘FURUHV SUHYLRXV\HDU൘FURUHV WRZDUGVRWKHUIRUHLJQGH¿QHGFRQWULEXWLRQSODQV % 'H¿QHGEHQH¿WSODQV D *UDWXLW\ E (PSOR\HU¶VFRQWULEXWLRQWRSURYLGHQWIXQG Gratuity The following table sets out the status of the gratuity plan : 6WDWHPHQWRISUR¿WDQGORVV

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

%DODQFH6KHHW

As at 0DUFK 0DUFK 'H¿QHGEHQH¿WREOLJDWLRQV Fair value of plan assets /HVV8QUHFRJQL]HGSDVWVHUYLFHFRVW 1HWSODQOLDELOLW\ &XUUHQWGH¿QHGEHQH¿WREOLJDWLRQV 1RQFXUUHQWGH¿QHGEHQH¿WREOLJDWLRQV

&KDQJHVLQSUHVHQWYDOXHRIWKHGH¿QHGEHQH¿WREOLJDWLRQVDUHDVIROORZV

&KDQJHVLQIDLUYDOXHRIWKHSODQDVVHWVDUHDVIROORZV

The overall expected rate of return on assets is determined based on the market prices prevailing on that date, applicable to the SHULRGRYHUZKLFKWKHREOLJDWLRQLVWREHVHWWOHG 7KHSULQFLSDODVVXPSWLRQVXVHGLQGHWHUPLQLQJJUDWXLW\IRUWKH&RPSDQ\¶VSODQVDUHVKRZQEHORZ

As at 0DUFK 0DUFK Discount rate Estimated Rate of salary increases Employee Turnover Expected rate of return on assets 7KHHVWLPDWHVRIIXWXUHVDODU\LQFUHDVHVFRQVLGHUHGLQWKHDFWXDULDOYDOXDWLRQWDNHDFFRXQWRILQÀDWLRQVHQLRULW\SURPRWLRQDQG RWKHUUHOHYDQWIDFWRUVVXFKDVVXSSO\DQGGHPDQGLQWKHHPSOR\PHQWPDUNHW

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

'LVFRXQW UDWH DQG IXWXUH VDODU\ HVFDODWLRQ UDWH DUH WKH NH\ DFWXDULDO DVVXPSWLRQV WR ZKLFK WKH GH¿QHG EHQH¿W REOLJDWLRQV DUH SDUWLFXODUO\VHQVLWLYH7KHIROORZLQJWDEOHVXPPDUL]HVWKHLPSDFWRQGH¿QHGEHQH¿WREOLJDWLRQVDVDW0DUFKDULVLQJGXHWR DQLQFUHDVHGHFUHDVHLQNH\DFWXDULDODVVXPSWLRQVE\EDVLVSRLQWV

Salary 'LVFRXQWUDWH HVFDODWLRQUDWH Impact of increase Impact of decrease

7KHVHQVLWLYLW\DQDO\VLVSUHVHQWHGPD\QRWEHUHSUHVHQWDWLYHRIWKHDFWXDOFKDQJHLQWKHGH¿QHGEHQH¿WREOLJDWLRQVDVVHQVLWLYLWLHV KDYHEHHQFDOFXODWHGWRVKRZWKHPRYHPHQWLQGH¿QHGEHQH¿WREOLJDWLRQVLQLVRODWLRQDQGDVVXPLQJWKHUHDUHQRRWKHUFKDQJHV LQPDUNHWFRQGLWLRQV7KHUHKDYHEHHQQRFKDQJHVIURPWKHSUHYLRXV\HDUVLQWKHPHWKRGVDQGDVVXPSWLRQVXVHGLQSUHSDULQJWKH VHQVLWLYLW\DQDO\VLV 7KHGH¿QHGEHQH¿WREOLJDWLRQVDUHH[SHFWHGWRPDWXUHDIWHU0DUFKDVIROORZV

7KHZHLJKWHGDYHUDJHGXUDWLRQRIWKHSD\PHQWRIWKHVHFDVKÀRZVLV\HDUV (PSOR\HU¶VFRQWULEXWLRQWRSURYLGHQWIXQG The actuary has provided a valuation for provident fund liabilities on the basis of guidance issued by Actuarial Society of India based RQWKHDVVXPSWLRQPHQWLRQHGEHORZDQGWKHUHLVQRVKRUWIDOODVDW0DUFK 7KHGHWDLOVRIWKHIXQGDQGSODQDVVHWSRVLWLRQDUHJLYHQEHORZ

0DUFK 0DUFK Fair value of plan assets at the year end 3UHVHQWYDOXHRIEHQH¿WREOLJDWLRQDW\HDUHQG 1HWOLDELOLW\UHFRJQL]HGLQEDODQFHVKHHW UHIHUQRWH

7KHDPRXQWIRUWKH\HDUHQGHG0DUFKKDVEHHQUHFRJQL]HGLQWKHRWKHUFRPSUHKHQVLYHLQFRPH Assumptions used in determining the present value obligation of the interest rate guarantee under the Deterministic Approach:

0DUFK 0DUFK *RYHUQPHQWRI,QGLD *2, ERQG\LHOG Remaining term of maturity \HDUV \HDUV Expected guaranteed interest rate

'XULQJWKH\HDUHQGHG0DUFKWKH&RPSDQ\KDVFRQWULEXWHG൘FURUHV SUHYLRXV\HDU൘FURUHV WRZDUGVHPSOR\HU¶V FRQWULEXWLRQWRSURYLGHQWIXQG

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

5HODWHGSDUW\WUDQVDFWLRQV D 5HODWHGSDUWLHVZKHUHFRQWUROH[LVWV /LVWRIVXEVLGLDULHVDVDW0DUFKDQG0DUFKLVDVEHORZ

3HUFHQWDJHKROGLQJDVDW S. Country of 1DPHRIWKH6XEVLGLDULHV No. ,QFRUSRUDWLRQ 0DUFK 0DUFK 'LUHFWVXEVLGLDULHV HCL Comnet Systems & Services Limited India HCL Comnet Limited India +&/%HUPXGD/LPLWHG %HUPXGD HCL Technologies (Shanghai) Limited China 5 HCL Eagle Limited India +&/)RXQGDWLRQ &RPSDQ\LQFRUSRUDWHGXQGHU6HFWLRQRIWKH&RPSDQLHV$FW India 7 +&/6LQJDSRUH3WH/LPLWHG Singapore 8 *HRPHWULF$PHULFDV,QF 86$ 9 +&/$VLD3DFL¿F3WH/WG )RUPHO\³*HRPHWULF$VLD3DFL¿F3WH/WG´ Singapore *HRPHWULF(XURSH*PE+ *HUPDQ\ Sankalp Semiconductor Private Limited # India H C L Technologies Lanka (Private) Limited ^ Sri Lanka 6WHSGRZQVXEVLGLDULHVRIGLUHFWVXEVLGLDULHV +&/*UHDW%ULWDLQ/LPLWHG 8. +&/ 1HWKHUODQGV %9 Netherlands +&/%HOJLXP19 %HOJLXP +&/6ZHGHQ$% Sweden +&/*PE+ *HUPDQ\ +&/,WDO\65/ Italy +&/$XVWUDOLD6HUYLFHV3W\/LPLWHG Australia HCL (New Zealand) Limited New Zealand +&/+RQJ.RQJ6$5/LPLWHG +RQJ.RQJ HCL Japan Limited Japan +&/$PHULFD,QF 86$ +&/7HFKQRORJLHV$XVWULD*PE+ Austria +&/6RIWZDUH3URGXFWV/LPLWHG IRUPHO\³+&/*OREDO3URFHVVLQJ6HUYLFHV/LPLWHG´ India HCL Technologies Solutions Limited India +&/3RODQG6S]RR Poland HCL EAS Limited 8. +&/,QVXUDQFH%326HUYLFHV/LPLWHG 8. $[RQ*URXS/LPLWHG 8. +&/&DQDGD,QF )RUPHO\³+&/$[RQ7HFKQRORJLHV,QF´ Canada +&/7HFKQRORJLHV6ROXWLRQV*PE+ Switzerland $[RQ6ROXWLRQV3W\/LPLWHG Australia Axon Solutions Limited 8. +&/7HFKQRORJLHV0DOD\VLD6GQ%KG )RUPHO\³+&/$[RQ0DOD\VLD6GQ%KG´ 0DOD\VLD $[RQ6ROXWLRQV6LQJDSRUH3WH/LPLWHG Singapore $[RQ6ROXWLRQV 6KDQJKDL &R/LPLWHG China HCL Technologies (Proprietary) Ltd (Formely “HCL Axon (Proprietary) Limited”) South Africa +&/$UJHQWLQDVD Argentina +&/0H[LFR6GH5/ 0H[LFR +&/7HFKQRORJLHV5RPDQLDVUO Romania

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

3HUFHQWDJHKROGLQJDVDW S. Country of 1DPHRIWKH6XEVLGLDULHV No. ,QFRUSRUDWLRQ 0DUFK 0DUFK +&/+XQJDU\.IW Hungary HCL Latin America Holding LLC 86$ +&/ %UD]LO 7HFKQRORJLDGDLQIRUPDFDR(,5(/, )RUPHUO\NQRZQDV %UD]LO +&/ %UD]LO 7HFKQRORJLDGDLQIRUPDFDR/WGD HCL Technologies Denmark Aps Denmark HCL Technologies Norway AS Norway 37+&/7HFKQRORJLHV,QGRQHVLD/LPLWHG Indonesia +&/7HFKQRORJLHV3KLOLSSLQHV,QF Philippines HCL Technologies South Africa (Proprietary) Limited South Africa HCL Arabia LLC Saudi Arabia HCL Technologies France SAS France )LOLDO(VSDQROD'H+&/7HFKQRORJLHV6/ Spain Anzospan Investments Pty Limited South Africa +&/,QYHVWPHQWV 8. /LPLWHG 8. 55 6WDWHVWUHHW+&/+ROGLQJ8./LPLWHG 8. 6WDWHVWUHHW+&/6HUYLFHV 3KLOOLSLQHV ,QF Philippines 57 6WDWHVWUHHW+&/6HUYLFHV ,QGLD 3ULYDWH/LPLWHG India 58 +&/$PHULFD6ROXWLRQV,QF 86$ 59 HCL Technologies Chile Spa Chile +&/7HFKQRORJLHV8./LPLWHG 8. +&/7HFKQRORJLHV%9 Netherlands HCL (Ireland) Information Systems Limited Ireland +&/7HFKQRORJLHV*HUPDQ\*PE+ *HUPDQ\ +&/7HFKQRORJLHV%HOJLXP%9%$ %HOJLXP +&/7HFKQRORJLHV6ZHGHQ$% Sweden HCL Technologies Finland Oy Finland +&/7HFKQRORJLHV,WDO\63$ Italy +&/7HFKQRORJLHV&ROXPELD6$6 Columbia +&/7HFKQRORJLHV0LGGOH(DVW)=//& 8$( +&/,VWDQEXO%LOLVLP7HNQRORMLOHUL/LPLWHG6LUNHWL Turkey +&/7HFKQRORJLHV*UHHFH6LQJOH0HPEHU3& *UHHFH +&/7HFKQRORJLHV6$ 9HQH]XHOD +&/7HFKQRORJLHV%HLMLQJ&R/WG China +&/7HFKQRORJLHV/X[HPERXUJ6DUO Luxembourg 75 HCL Technologies Egypt Limited Egypt HCL Technologies Estonia OÜ Estonia 77 +&/7HFKQRORJLHV 7KDLODQG /WG Thailand 78 +&/7HFKQRORJLHV&]HFK5HSXEOLFVUR Czech Republic 79 +&/0XVFDW7HFKQRORJLHV//& Oman &RQFHSW6LOLFRQ6\VWHPV3ULYDWH/LPLWHG India Powerteam LLC 86$ Point to Point Limited 8. Point to Point Products Limited 8. +&/7HFKQRORJLHV/LWKXDQLD8$% Lithuania 85 +&/7HFKQRORJLHV 7DLZDQ /WG China *HRPHWULF&KLQD,QF China 87 *HRPHWULF65/ Romania

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

3HUFHQWDJHKROGLQJDVDW S. Country of 1DPHRIWKH6XEVLGLDULHV No. ,QFRUSRUDWLRQ 0DUFK 0DUFK 88 *HRPHWULF6$6 France 89 %XWOHU$PHULFD$HURVSDFH//& 86$ 8UEDQ)XO¿OOPHQW6HUYLFHV//& 86$ Datawave (An HCL Technologies Company) Limited (formely known as “ETL Scotland Factory Limited”) HCL Technologies Corporate Services Limited 8. +&/7UDLQLQJ 6WDI¿QJ6HUYLFHV3ULYDWH/LPLWHG India &L6XSSRUW6HUYLFHV3ULYDWH/LPLWHG India 95 7HOHU[0DUNHWLQJ,QF 86$ &L(XURSH(RRG %XOJDULD 97 &L 8. /LPLWHG 8. 98 &L-DSDQ*. Japan 99 &L6HUYLFHV 7HFKQRORJLHV 'DOLDQ &R/WG China HCL Technologies SEP Holdings Inc 86$ Actian Corporation 86$ Actian Australia Pty Ltd Australia Actian Europe Limited 8. Actian France France $FWLDQ*HUPDQ\*PE+ *HUPDQ\ $FWLDQ,QWHUQDWLRQDO,QF 86$ $FWLDQ1HWKHUODQGV%9 Netherlands $FWLDQ1HWKHUODQGV+ROGLQJ%9 Netherlands Actian Technology Private Limited India 3DU$FFHO//& 86$ 3HUYDVLYH6RIWZDUH,QF 86$ 32(7+ROGLQJV,QF 86$ 9HUVDQW*PE+ *HUPDQ\ 9HUVDQW,QGLD3ULYDWH/LPLWHG India 9HUVDQW6RIWZDUH//& 86$ +RQLVJEHUJ 'XYHO'DWHQWLFKQLN*0%+ *HUPDQ\ + '%XVLQHVV6HUYLFHV*PE+ *HUPDQ\ + ',76ROXWLRQV*PE+ *HUPDQ\ + '7UDLQLQJXQG&RQVXOWLQJ*PE+ *HUPDQ\ + ',QWHUQDWLRQDO*PE+ *HUPDQ\ + ',73URIHVVLRQDO6HUYLFHV*PE+ *HUPDQ\ TPRLW*PE+ *HUPDQ\ + '6HUYLFHVIRU(QJLQHHULQJ*PE+ *HUPDQ\ +|QLJVEHUJ 'YHO'DWHQWHFKQLN&]HFKVUR Czech Republic Hönigsberg & Düvel Corporation 86$ &$7,6*PE+ *HUPDQ\ + ',7$XWRPRWLYH6HUYLFHV*PE+ *HUPDQ\ &$0DQDJHPHQW6HUYLFHV*PE+ *HUPDQ\ + ',7$6,QIUDVWUXFWXUH6HUYLFHV*PE+ *HUPDQ\ + ',7$6$SSOLFDWLRQ6HUYLFHV*PE+ *HUPDQ\ + ',7$6&OLHQW6HUYLFHV*PE+ *HUPDQ\ + ',7$66G*PE+ *HUPDQ\ +&/7HFKQRORJLHV9LHWQDP&RPSDQ\/LPLWHG 9LHWQDP

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

3HUFHQWDJHKROGLQJDVDW S. Country of 1DPHRIWKH6XEVLGLDULHV No. ,QFRUSRUDWLRQ 0DUFK 0DUFK +&/*XDWHPDOD6RFLHGDG$QRQLPD *XDWHPDOD 6DQNJXM6HPLFRQGXFWRU3ULYDWH/LPLWHG India 6DQNDOS6HPLFRQGXFWRU,QF Canada 6DQNDOS86$,QF 86$ 6DQNDOS6HPLFRQGXFWRU*PE+ *HUPDQ\ 6DQNDOS6HPLFRQGXFWRU6'1%+' 0DOD\VLD &HOHULWL)LQWHFK*PEK *HUPDQ\ 6WURQJ%ULGJH+ROGLQJ,1& America 6WURQJ%ULGJH//& America (QYLVLRQ%XVLQHVV&RQVXOWLQJ//& America +&/7(&+12/2*,(675,1,'$'$1'72%$*2/,0,7('A Trinidad and Tobago +&/7HFKQRORJLHV$]HUEDLMDQ/LPLWHG/LDELOLW\&RPSDQ\A $]HUEDLMDQ +&/7HFKQRORJLHV%XOJDULD(22'A %XOJDULD +&/7HFKQRORJLHV 9LHWQDP &RPSDQ\/LPLWHGA 9LHWQDP

7KHREMHFWLYHRIWKHSDUHQWLVQRWWRREWDLQHFRQRPLFEHQH¿WIURPWKH&RPSDQ\ 'LVVROYHGGXULQJWKH\HDU 0HUJHGGXULQJWKH\HDU 7KH*URXSKDVHTXLW\LQWHUHVWRIDQGGLYLGHQGULJKWVDQGFRQWURO ^ Incorporated during the year $FTXLUHGGXULQJWKH\HDU (PSOR\HHEHQH¿WWUXVWV Hindustan Instruments Limited Employees Provident Fund Trust HCL Consulting Limited Employees Superannuation Scheme HCL Comnet System and Services Limited Employees Provident Fund Trust +&/7HFKQRORJLHV(PSOR\HHV*URXS*UDWXLW\7UXVW HCL South Africa Share Ownership Trust HCL Technologies Stock Options Trust &L6XSSRUW6HUYLFHV(PSOR\HHV*UDWXLW\7UXVW 6DQNDOS6WRFN7UXVW DFTXLUHGGXULQJWKH\HDU 6DQNDOS6HPL&RQGXFWRU3ULYDWH/LPLWHG(PSOR\HHV*URXS7UXVW DTXLUHGGXULQJWKH\HDU .H\0DQDJHPHQW3HUVRQQHO 0U6KLY1DGDU±&KDLUPDQDQG&KLHI6WUDWHJ\2I¿FHU 0U&9LMD\DNXPDU±3UHVLGHQWDQG&KLHI([HFXWLYH2I¿FHU 0U3UDWHHN$JJDUZDO±&KLHI)LQDQFLDO2I¿FHU ZHI2FWREHU 0U0DQLVK$QDQG±&RPSDQ\6HFUHWDU\ 0U$QLO&KDQDQD±&KLHI)LQDQFLDO2I¿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

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

E 5HODWHGSDUWLHVZLWKZKRPWUDQVDFWLRQVKDYHWDNHQSODFHGXULQJWKHFXUUHQW\HDU 2WKHUV 6LJQL¿FDQWLQÀXHQFH

HCL Infosystems Limited SSN Trust HCL Avitas Private Limited HCL IT City Lucknow Private Limited 9DPD6XQGDUL,QYHVWPHQWV 'HOKL 3ULYDWH/LPLWHG HCL Infotech Limited HCL Corporation Private Limited 6KLY1DGDU8QLYHUVLW\ SSN Investments (Pondi) Private Limited HCL Holding Private Limited Naksha Enterprises Private Limited Shiv Nadar Foundation +&/,QV\V3WH/LPLWHG6LQJDSRUH FHDVHGWREHUHODWHGSDUW\ZHI1RYHPEHU

6XEVLGLDULHV 6LJQL¿FDQWLQÀXHQFH 7UDQVDFWLRQVZLWKUHODWHGSDUWLHVGXULQJWKHQRUPDO

Note2WKHUH[SHQVHVLQFOXGHRXWVRXUFLQJFRVWDQGFRVWRIJRRGVVROGDOVR

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

6XEVLGLDULHV 6LJQL¿FDQWLQÀXHQFH 2XWVWDQGLQJEDODQFHV As at As at 0DUFK 0DUFK 0DUFK 0DUFK Trade receivables 5 9 8QELOOHGUHFHLYDEOH 8QVHFXUHGORDQV 9 Deferred contract cost Advance to supplier 85 Interest receivables 5 Security deposits Prepaid expenses Trade payables Advance received from customers Contract liabilities Capital accounts payables (including supplier credit) *XDUDQWHHRXWVWDQGLQJ Lease liabilities 5LJKWRIXVHDVVHWV Liabilities for expense Supplier credit

8QVHFXUHGORDQLQFOXGHVORDQRXWVWDQGLQJZLWK*HRPHWULF(XURSH*PE+ZKLFKLVJLYHQIRUZRUNLQJFDSLWDOPDQDJHPHQWDQG UHSD\DEOHRQGHPDQG 'HWDLORIJXDUDQWHHRXWVWDQGLQJ

0DUFK 0DUFK +&/$PHULFD,QF +&/,QVXUDQFH%326HUYLFHV/WG

$QQXDO5HSRUW 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

5HVHDUFKDQGGHYHORSPHQWH[SHQGLWXUH

&RPPLWPHQWVDQGFRQWLQJHQWOLDELOLWLHV

As at 0DUFK 0DUFK L &DSLWDODQGRWKHUFRPPLWPHQWV &DSLWDOFRPPLWPHQWV Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)

LL &RQWLQJHQWOLDELOLWLHV Others

The Company is involved in various lawsuits, claims and proceedings that arise in the ordinary course of business, the outcome of which is LQKHUHQWO\XQFHUWDLQ6RPHRIWKHVHPDWWHUVLQFOXGHVSHFXODWLYHDQGIULYRORXVFODLPVIRUVXEVWDQWLDORULQGHWHUPLQDWHDPRXQWVRIGDPDJHV 7KH&RPSDQ\UHFRUGVDOLDELOLW\ZKHQLWLVERWKSUREDEOHWKDWDORVVKDVEHHQLQFXUUHGDQGWKHDPRXQWFDQEHUHDVRQDEO\HVWLPDWHG 6LJQL¿FDQWMXGJPHQWLVUHTXLUHGWRGHWHUPLQHERWKSUREDELOLW\DQGWKHHVWLPDWHGDPRXQW7KH&RPSDQ\UHYLHZVWKHVHSURYLVLRQVDWOHDVW TXDUWHUO\DQGDGMXVWVWKHVHSURYLVLRQVDFFRUGLQJO\WRUHÀHFWWKHLPSDFWRIQHJRWLDWLRQVVHWWOHPHQWVUXOLQJVDGYLFHRIOHJDOFRXQVHODQG XSGDWHGLQIRUPDWLRQ7KH&RPSDQ\EHOLHYHVWKDWWKHDPRXQWRUHVWLPDEOHUDQJHRIUHDVRQDEO\SRVVLEOHORVVZLOOQRWHLWKHULQGLYLGXDOO\ RULQWKHDJJUHJDWHKDYHDPDWHULDODGYHUVHHIIHFWRQLWVEXVLQHVV¿QDQFLDOSRVLWLRQUHVXOWVRIWKH&RPSDQ\RUFDVKÀRZVZLWKUHVSHFW WRORVVFRQWLQJHQFLHVIRUOHJDODQGRWKHUFRQWLQJHQFLHVDVDW0DUFK

*XDUDQWHHVKDYHEHHQJLYHQE\WKH&RPSDQ\RQEHKDOIRIYDULRXVVXEVLGLDULHVDJDLQVWFUHGLWIDFLOLWLHV¿QDQFLDODVVLVWDQFHDQGRI¿FH SUHPLVHVWDNHQRQOHDVHDPRXQWLQJWR൘FURUHV 0DUFK൘FURUHV 7KHVHJXDUDQWHHVKDYHEHHQJLYHQLQWKHQRUPDO FRXUVHRIWKH&RPSDQ\¶VRSHUDWLRQVDQGDUHQRWH[SHFWHGWRUHVXOWLQDQ\ORVVWRWKH&RPSDQ\RQWKHEDVLVRIWKHEHQH¿FLDULHVIXO¿OOLQJ WKHLURUGLQDU\FRPPHUFLDOREOLJDWLRQV

3D\PHQWWRDXGLWRUV

Standalone Financial Statements 1RWHVWRVWDQGDORQH¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

0LFURDQGVPDOOHQWHUSULVHV $VSHULQIRUPDWLRQDYDLODEOHZLWKWKHPDQDJHPHQWWKHGXHVSD\DEOHWRHQWHUSULVHVFRYHUHGXQGHU³7KH0LFUR6PDOODQG0HGLXP(Q WHUSULVHV'HYHORSPHQW$FW´DUHDVIROORZV

)RUWKH\HDUHQGHG0DUFK )RUWKH\HDUHQGHG0DUFK 3ULQFLSDO Interest 3ULQFLSDO Interest Amount due to vendors Principal amount paid beyond the appointed date ,QWHUHVWXQGHUQRUPDOFUHGLWWHUPV Accrued and unpaid during the year 7RWDOLQWHUHVWSD\DEOH Accrued and unpaid during the year

7KLVKDVEHHQGHWHUPLQHGRQWKHEDVLVRIUHVSRQVHVUHFHLYHGIURPYHQGRUVRQVSHFL¿FFRQ¿UPDWLRQVRXJKWE\WKH&RPSDQ\

&RUSRUDWHVRFLDOUHVSRQVLELOLW\ $VUHTXLUHGE\VHFWLRQRIWKH&RPSDQLHV$FWWKHJURVVDPRXQWUHTXLUHGWREHVSHQWE\WKH&RPSDQ\RQ&65DFWLYLWLHVLV ൘FURUHV 0DUFK൘FURUHV DQGWKHDPRXQWVSHQWGXULQJWKH\HDULV`FURUHV 0DUFK൘FURUHV 6HJPHQW5HSRUWLQJ $VSHU,QG$6µ2SHUDWLQJ6HJPHQWV¶WKH&RPSDQ\KDVGLVFORVHGWKHVHJPHQWLQIRUPDWLRQRQO\DVSDUWRIWKHFRQVROLGDWHG¿QDQFLDO UHVXOWV 6XEVHTXHQWHYHQWV 7KH%RDUGRI'LUHFWRUVLQWKHLUPHHWLQJRQ0D\UHFRPPHQGHGD¿QDOGLYLGHQGRI൘SHUHTXLW\VKDUHIRUWKH¿QDQFLDO\HDUHQGHG 0DUFK7KLVSD\PHQWLVVXEMHFWWRWKHDSSURYDORIVKDUHKROGHUVLQWKH$QQXDO*HQHUDO0HHWLQJRIWKH&RPSDQ\

As per our report of even date attached )25%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG &KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU Partner Chairman and Director President and 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ *XUXJUDP,QGLD 1RLGD 83 ,QGLD 0D\ 0D\

$QQXDO5HSRUW &RQVROLGDWHG ,QG$6 )LQDQFLDO6WDWHPHQWV

Consolidated Financial Statements INDEPENDENT AUDITORS’ REPORT

7RWKH0HPEHUVRI+&/7HFKQRORJLHV/LPLWHG ÀRZVIRUWKH\HDUWKHQHQGHG

5HSRUWRQWKH$XGLWRI&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV Basis for Opinion

Opinion :H FRQGXFWHG RXU DXGLW LQ DFFRUGDQFH ZLWK WKH 6WDQGDUGV RQ $XGLWLQJ 6$V VSHFL¿HG XQGHU VHFWLRQ RI WKH $FW 2XU :H KDYH DXGLWHG WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV RI +&/ responsibilities under those SAs are further described in the Technologies Limited (hereinafter referred to as the “Holding $XGLWRU¶V 5HVSRQVLELOLWLHV IRU WKH $XGLW RI WKH &RQVROLGDWHG Company”) and its subsidiaries (Holding Company and its subsidiaries )LQDQFLDO 6WDWHPHQWV VHFWLRQ RI RXU UHSRUW :H DUH LQGHSHQGHQW WRJHWKHUUHIHUUHGWRDV³WKH*URXS´ ZKLFKFRPSULVHWKH&RQVROLGDWHG RIWKH*URXSLQDFFRUGDQFHZLWKWKHHWKLFDOUHTXLUHPHQWVWKDWDUH %DODQFH6KHHWDVDW0DUFKDQGWKH&RQVROLGDWHG6WDWHPHQWRI UHOHYDQW WR RXU DXGLW RI WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV LQ 3UR¿WDQG/RVV LQFOXGLQJRWKHUFRPSUHKHQVLYHLQFRPH &RQVROLGDWHG terms of the Code of Ethics issued by the Institute of Chartered 6WDWHPHQWRI&KDQJHVLQ(TXLW\DQG&RQVROLGDWHG6WDWHPHQWRI&DVK Accountants of India and the relevant provisions of the Act, and we )ORZVIRUWKH\HDUWKHQHQGHGDQGQRWHVWRWKHFRQVROLGDWHG¿QDQFLDO KDYHIXO¿OOHGRXURWKHUHWKLFDOUHVSRQVLELOLWLHVLQDFFRUGDQFHZLWK VWDWHPHQWV LQFOXGLQJ D VXPPDU\ RI VLJQL¿FDQW DFFRXQWLQJ SROLFLHV WKHVHUHTXLUHPHQWV:HEHOLHYHWKDWWKHDXGLWHYLGHQFHREWDLQHG and other explanatory information (hereinafter referred to as “the E\XVLVVXI¿FLHQWDQGDSSURSULDWHWRSURYLGHDEDVLVIRURXURSLQLRQ FRQVROLGDWHG¿QDQFLDOVWDWHPHQWV´ RQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

In our opinion and to the best of our information and according to .H\$XGLW0DWWHUV WKHH[SODQDWLRQVJLYHQWRXVWKHDIRUHVDLGFRQVROLGDWHG¿QDQFLDO VWDWHPHQWVJLYHWKHLQIRUPDWLRQUHTXLUHGE\WKH&RPSDQLHV$FW .H\ DXGLW PDWWHUV DUH WKRVH PDWWHUV WKDW LQ RXU SURIHVVLRQDO ³$FW´ LQWKHPDQQHUVRUHTXLUHGDQGJLYHDWUXHDQGIDLUYLHZ MXGJPHQWZHUHRIPRVWVLJQL¿FDQFHLQRXUDXGLWRIWKHFRQVROLGDWHG in conformity with the accounting principles generally accepted ¿QDQFLDO VWDWHPHQWV RI WKH FXUUHQW SHULRG 7KHVH PDWWHUV ZHUH LQ,QGLDRIWKHFRQVROLGDWHGVWDWHRIDIIDLUVRIWKH*URXSDVDW DGGUHVVHGLQWKHFRQWH[WRIRXUDXGLWRIWKHFRQVROLGDWHG¿QDQFLDO 0DUFK RI LWV FRQVROLGDWHG SUR¿W DQG RWKHU FRPSUHKHQVLYH statements as a whole, and in forming our opinion thereon, and we LQFRPH FRQVROLGDWHG FKDQJHV LQ HTXLW\ DQG FRQVROLGDWHG FDVK GRQRWSURYLGHDVHSDUDWHRSLQLRQRQWKHVHPDWWHUV

'HVFULSWLRQRI.H\$XGLW0DWWHU

7KHNH\DXGLWPDWWHU +RZWKHPDWWHUZDVDGGUHVVHGLQRXUDXGLW

5HYHQXH5HFRJQLWLRQRQ¿[HGSULFHFRQWUDFWV 6HHQRWH J DQGWRWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

5HYHQXH DQG RQHURXV REOLJDWLRQ LQ UHVSHFW RI RSHQ ¿[HG SULFH ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJ contracts involves critical estimates as there is an inherent and DXGLW SURFHGXUHV LQ WKLV DUHD DPRQJ RWKHUV WR REWDLQ VXI¿FLHQW presumed fraud risk involved around the recognition of revenue, appropriate audit evidence: JLYHQWKHFXVWRPL]HGDQGFRPSOH[QDWXUHRIWKHVHFRQWUDFWV x evaluating the design, implementation and operating Estimation of effort is a critical estimate to determine revenue and effectiveness of internal controls relating to estimation of efforts OLDELOLW\IRURQHURXVREOLJDWLRQVIRURSHQ¿[HGSULFHFRQWUDFWV7KH UHTXLUHG DQG UHFRUGLQJ RI HIIRUWV LQFXUUHG WR FRPSOHWH WKH HVWLPDWHKDVDKLJKLQKHUHQWXQFHUWDLQW\DVLWUHTXLUHVFRQVLGHUDWLRQ UHPDLQLQJFRQWUDFWSHUIRUPDQFHREOLJDWLRQV RISURJUHVVRIFRQWUDFWVHIIRUWVLQFXUUHGWLOOGDWHDQGHIIRUWVUHTXLUHG obtaining an understanding of the systems, processes and WRFRPSOHWHWKHUHPDLQLQJFRQWUDFWSHUIRUPDQFHREOLJDWLRQV x controls implemented by management for recording and computing revenue and associated contract assets, and XQHDUQHGDQGGHIHUUHGUHYHQXHEDODQFHV x LQYROYLQJRXU,QIRUPDWLRQ7HFKQRORJ\ µ,7¶ VSHFLDOLVWVWRDVVHVV the design, implementation and operating effectiveness of key IT controls over the IT environment in which business systems operate, including IT general controls and application controls pertaining to allocation of resources and budgeting systems which prevents unauthorized changes to recording of costs incurred and controls relating to the estimation of contract costs UHTXLUHGWRFRPSOHWHWKHSURMHFW x VHOHFWLQJ VSHFL¿FVWDWLVWLFDO VDPSOHV RI FRQWUDFWV DQG WHVWLQJ revenue recognition and estimation of onerous obligation, if DQ\E\SHUIRUPLQJWKHIROORZLQJSURFHGXUHV - HYDOXDWLQJ LGHQWL¿FDWLRQ RI SHUIRUPDQFH REOLJDWLRQ DQG DOORFDWLRQRIWUDQVDFWLRQSULFHWRHDFKSHUIRUPDQFHREOLJDWLRQ - performing retrospective review of the costs incurred ZLWK HVWLPDWHG FRVWV WR LGHQWLI\ VLJQL¿FDQW YDULDWLRQV DQG verifying variations have been considered in estimating the UHPDLQLQJFRVWVWRFRPSOHWHWKHFRQWUDFWDQG

$QQXDO5HSRUW 7KHNH\DXGLWPDWWHU +RZWKHPDWWHUZDVDGGUHVVHGLQRXUDXGLW

- assessing the appropriateness of work in progress (contract assets) on balance sheet date by verifying the underlying information and identify possible changes in estimated FRVWVWRFRPSOHWHWKHUHPDLQLQJSHUIRUPDQFHREOLJDWLRQV

5HFRJQLWLRQDQG0HDVXUHPHQWRI,QWDQJLEOHVLQ$FTXLVLWLRQRI6HOHFW,%06RIWZDUHSURGXFWV 6HHQRWH M DQGWRWKH FRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

7KH *URXS FRPSOHWHG WKH DFTXLVLWLRQ RI 6HOHFW ,%0 6RIWZDUH ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJ SURGXFWVRQ-XQHDQGDFFRXQWHGIRUWKLVDFTXLVLWLRQDVD DXGLW SURFHGXUHV LQ WKLV DUHD DPRQJ RWKHUV WR REWDLQ VXI¿FLHQW EXVLQHVVFRPELQDWLRQDVSHU,QG$6 appropriate audit evidence: $FFRXQWLQJ IRU EXVLQHVV FRPELQDWLRQV FDQ LQYROYH MXGJPHQWV LQ WHVWLQJWKHGHVLJQDQGRSHUDWLQJHIIHFWLYHQHVVRIWKH*URXS¶V relation to the assessment of the fair values of assets and liabilities NH\FRQWUROVRYHUDFFRXQWLQJIRULGHQWL¿HGLQWDQJLEOHVDVVHWVLQ WKDW DUH UHFRJQLVHG RQ DFTXLVLWLRQ SDUWLFXODUO\ WKH DOORFDWLRQ RI DEXVLQHVVFRPELQDWLRQ SXUFKDVHFRQVLGHUDWLRQWRLGHQWL¿HGLQWDQJLEOHVDVVHWV LQVSHFWLQJ GRFXPHQWDWLRQ SHUWDLQLQJ WR WKH DFTXLVLWLRQ WR )DLU YDOXH RI LQWDQJLEOH DVVHWV ZDV GHWHUPLQHG E\ WKH *URXS XQGHUVWDQGWKHNH\WHUPVDQGFRQGLWLRQVRIWKHDFTXLVLWLRQDQG with the assistance of an external valuation expert using various DVVHVVLQJWKHSURSRVHGDFFRXQWLQJWUHDWPHQWIRUWKHLGHQWL¿HG valuation models, which were applied according to the nature of LQWDQJLEOHV LQ UHODWLRQ WR WKH *URXS¶V DFFRXQWLQJ SROLFLHV DQG DVVHWVEHLQJPHDVXUHG UHOHYDQW,QG$6 This measurement was dependent on estimates of future cash DVVHVVLQJ WKH FRPSHWHQFH FDSDELOLWLHV DQG REMHFWLYLW\ RI ÀRZVZKLFKZHUHEDVHGRQWKH*URXS¶VLQWHUQDOIRUHFDVWVDVZHOO H[WHUQDO H[SHUWV HQJDJHG E\ WKH *URXS DQG JDLQLQJ DQ DVWKHFRVWRIFDSLWDODQGREVROHVFHQFHUDWHDSSOLHGDQGLVVXEMHFW understanding of the work of the experts by evaluating the WRXQFHUWDLQW\GXHWRGHJUHHRIMXGJPHQWLQYROYHG YDOXDWLRQUHSRUWV 7KHUHZDVFRPSOH[LW\DQGMXGJPHQWLQYROYHGLQUHFRJQLWLRQDQGIDLU HYDOXDWLQJ WKH UHDVRQDEOHQHVV RI *URXS¶V NH\ DVVXPSWLRQV YDOXHPHDVXUHPHQWVRILQWDQJLEOHDVVHWVLGHQWL¿HGDQGUHFRJQL]HG VXFK DV GLVFRXQW UDWH IXWXUH FDVK ÀRZV REVROHVFHQFH DQG LQWKHEXVLQHVVDFTXLVLWLRQPDGHE\WKH*URXS SHULRG RI DPRUWL]DWLRQ )XUWKHU ZH DVVHVVHG SURYLVLRQDO purchase price allocation and the recognition and measurement RIDFTXLUHGLQWDQJLEOHDVVHWVEDVHGRQRXUNQRZOHGJHRIWKH *URXSDQGWKHLQGXVWU\ using our internal valuation specialists to evaluate the appropriateness of the methodology and key assumptions XVHGLQDOORFDWLRQRIWKHSXUFKDVHSULFHWRDFTXLUHGLQWDQJLEOH DVVHWVDQG DVVHVVLQJWKHDGHTXDF\RIWKH*URXS¶VGLVFORVXUHVLQUHVSHFW RIWKHDFTXLVLWLRQLQDFFRUGDQFHZLWKWKHUHOHYDQWDFFRXQWLQJ VWDQGDUGV

(YDOXDWLRQRIWD[SRVLWLRQVDQGOLWLJDWLRQV 6HHQRWH K DQGWRWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

7KH*URXSRSHUDWHVLQPXOWLSOHJOREDOMXULVGLFWLRQVZKLFKUHTXLUHV ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJ it to estimate its income tax liabilities according to the tax laws DXGLW SURFHGXUHV LQ WKLV DUHD DPRQJ RWKHUV WR REWDLQ VXI¿FLHQW RI WKH UHVSHFWLYH WD[ MXULVGLFWLRQV )XUWKHU WKHUH DUH PDWWHUV RI appropriate audit evidence: interpretation in terms of application of tax laws and related rules to GHWHUPLQHFXUUHQWWD[SURYLVLRQDQGGHIHUUHGWD[HV WHVWLQJWKHGHVLJQDQGRSHUDWLQJHIIHFWLYHQHVVRIWKH*URXS¶V key controls over identifying uncertain tax positions and matters 7KH *URXS KDV PDWHULDO WD[ SRVLWLRQV DQG OLWLJDWLRQV RQ D UDQJH LQYROYLQJOLWLJDWLRQVGLVSXWHV RIWD[PDWWHUVSULPDULO\LQ,QGLDDQGWKH8QLWHG6WDWHVRI$PHULFD obtaining details of tax positions and tax litigations for the 86 7KLV UHTXLUHV PDQDJHPHQW WR PDNH VLJQL¿FDQW MXGJPHQWV to determine the possible outcome of uncertain tax positions and \HDUDQGDVDW0DUFKDQGKROGLQJGLVFXVVLRQVZLWK OLWLJDWLRQVDQGWKHLUFRQVHTXHQWLPSDFWRQUHODWHGDFFRXQWLQJDQG GHVLJQDWHGPDQDJHPHQWSHUVRQQHO GLVFORVXUHVLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV assessing and analysing select key correspondences with tax authorities and inspecting external legal opinions obtained by PDQDJHPHQWIRUNH\XQFHUWDLQWD[SRVLWLRQVDQGWD[OLWLJDWLRQV evaluating underlying evidence and documentation to determine whether the information provides a basis for amounts reserved/ QRWUHVHUYHGLQWKHERRNVRIDFFRXQW involving our internal tax specialists and evaluating PDQDJHPHQW¶V XQGHUO\LQJ NH\ DVVXPSWLRQV LQ HVWLPDWLQJ the tax provisions and estimate of the possible outcome of VLJQL¿FDQWWD[OLWLJDWLRQVDQG in respect of tax positions and litigation, assessing the computation RISURYLVLRQVDQGFRQVHTXHQWLPSDFWRQUHODWHGDFFRXQWLQJDQG GLVFORVXUHVLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

Consolidated Financial Statements 7KHNH\DXGLWPDWWHU +RZWKHPDWWHUZDVDGGUHVVHGLQRXUDXGLW $GRSWLRQRI,QG$6/HDVHV 6HHQRWH P DQG D WRWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV 7KH *URXS KDV DGRSWHG ,QG$6 /HDVHV ZLWK HIIHFW IURP ,QYLHZRIWKHVLJQL¿FDQFHRIWKHPDWWHUZHDSSOLHGWKHIROORZLQJ $SULO7KH*URXSKDVFKRVHQWRDSSO\,QG$6XQGHUWKH DXGLW SURFHGXUHV LQ WKLV DUHD DPRQJ RWKHUV WR REWDLQ VXI¿FLHQW PRGL¿HG UHWURVSHFWLYH DSSURDFK 7KHUHIRUH WKH &RPSDUDWLYH appropriate audit evidence: LQIRUPDWLRQ KDV QRW EHHQ DGMXVWHG DQG FRQWLQXHV WR EH UHSRUWHG testing the design and implementation of controls pertaining to XQGHU,QG$6 UHFRJQLWLRQDQGPHDVXUHPHQWRIOHDVHVXQGHU,QG$6 The application and transition to this accounting standard is HYDOXDWLQJWKHPHWKRGRIWUDQVLWLRQDQGUHODWHGDGMXVWPHQWV FRPSOH[DQGLVDQDUHDRIIRFXVLQRXUDXGLWVLQFHWKH*URXSKDVD ODUJHQXPEHURIOHDVHVZLWKGLIIHUHQWFRQWUDFWXDOWHUPV testing completeness of the lease data by reconciling the *URXS¶VRSHUDWLQJOHDVHFRPPLWPHQWVWRGDWDXVHGLQFRPSXWLQJ $VDUHVXOWRIWKH*URXS¶VDGRSWLRQRIWKLVQHZVWDQGDUGVHYHUDO 528DVVHWDQGWKHOHDVHOLDELOLWLHVDQGUHYLHZLQJWKHUHVLGXDO MXGJHPHQWVKDYHEHHQDSSOLHGDQGHVWLPDWHVPDGHLQGHWHUPLQLQJ rent expenses, security deposits and other expenses to identify WKHLPSDFWRIWKHVWDQGDUG SRWHQWLDOOHDVHFRQWUDFWV $ VLJQL¿FDQW GDWD H[WUDFWLRQ H[HUFLVH ZDV XQGHUWDNHQ E\ verifying the accuracy of the underlying lease data by agreeing management to summarize the leases, such that the respective a representative sample of leases to original contract or other LQSXWVFRXOGEHXSORDGHGLQWRPDQDJHPHQW¶VPRGHO2XUNH\DXGLW UHODWHGLQIRUPDWLRQDQGFKHFNHGWKHDFFXUDF\RI,QG$6 matter was focused on the following areas of risk: calculations for each lease sampled, through recalculation of - 7KH XQGHUO\LQJ GDWD RI OHDVLQJ DUUDQJHPHQWV LGHQWL¿HG DQG WKHH[SHFWHG,QG$6DGMXVWPHQW XVHGWRFDOFXODWHWKHWUDQVLWLRQDOLPSDFWXQGHU,QG$6PD\ assessing the appropriateness of the discount rates applied EHLQFRPSOHWHDQGRULQDFFXUDWH in determining lease liabilities with inputs from third parties - 6SHFL¿FDVVXPSWLRQVDSSOLHGWRGHWHUPLQHWKHOHDVHWHUPDQG and evaluated the reasonability of discount rates through GLVFRXQWUDWHVPD\EHLQDSSURSULDWHDQG LQYROYHPHQWRIRXUVSHFLDOLVWVRQVDPSOHEDVLVDQG - 7KHGLVFORVXUHVLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVPD\ assessing the presentation and disclosures, including those QRW EH LQ DFFRUGDQFH ZLWK WKH DSSOLFDEOH ¿QDQFLDO UHSRUWLQJ UHODWLQJWRWUDQVLWLRQZLWKLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV IUDPHZRUN ZLWKWKHDSSOLFDEOH¿QDQFLDOUHSRUWLQJIUDPHZRUN

2WKHU,QIRUPDWLRQ WKH VHOHFWLRQ DQG DSSOLFDWLRQ RI DSSURSULDWH DFFRXQWLQJ SROLFLHV PDNLQJMXGJPHQWVDQGHVWLPDWHVWKDWDUHUHDVRQDEOHDQGSUXGHQW 7KH +ROGLQJ &RPSDQ\¶V PDQDJHPHQW DQG %RDUG RI 'LUHFWRUV DQG WKH GHVLJQ LPSOHPHQWDWLRQ DQG PDLQWHQDQFH RI DGHTXDWH DUH UHVSRQVLEOH IRU WKH RWKHU LQIRUPDWLRQ 7KH RWKHU LQIRUPDWLRQ LQWHUQDO ¿QDQFLDO FRQWUROV WKDW ZHUH RSHUDWLQJ HIIHFWLYHO\ IRU FRPSULVHV WKH LQIRUPDWLRQ LQFOXGHG LQ WKH KROGLQJ &RPSDQ\¶V ensuring accuracy and completeness of the accounting records, DQQXDO UHSRUW EXW GRHV QRW LQFOXGH WKH FRQVROLGDWHG ¿QDQFLDO relevant to the preparation and presentation of the consolidated VWDWHPHQWVDQGRXUDXGLWRUV¶UHSRUWWKHUHRQ ¿QDQFLDO VWDWHPHQWV WKDW JLYH D WUXH DQG IDLU YLHZ DQG DUH IUHH from material misstatement, whether due to fraud or error, which 2XU RSLQLRQ RQ WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV GRHV QRW have been used for the purpose of preparation of the consolidated cover the other information and we do not express any form of ¿QDQFLDO VWDWHPHQWV E\ WKH 0DQDJHPHQW DQG 'LUHFWRUV RI WKH DVVXUDQFHFRQFOXVLRQWKHUHRQ +ROGLQJ&RPSDQ\DVDIRUHVDLG

,Q FRQQHFWLRQ ZLWK RXU DXGLW RI WKH FRQVROLGDWHG ¿QDQFLDO ,QSUHSDULQJWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVWKHUHVSHFWLYH statements, our responsibility is to read the other information and, 0DQDJHPHQWDQG%RDUGRI'LUHFWRUVRIWKHHQWLWLHVLQFOXGHGLQWKH in doing so, consider whether the other information is materially *URXS DUH UHVSRQVLEOH IRU DVVHVVLQJ WKH DELOLW\ RI HDFK HQWLW\ WR LQFRQVLVWHQW ZLWK WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV RU RXU continue as a going concern, disclosing, as applicable, matters knowledge obtained in the audit or otherwise appears to be related to going concern and using the going concern basis of PDWHULDOO\ PLVVWDWHG ,I EDVHG RQ WKH ZRUN ZH KDYH SHUIRUPHG DFFRXQWLQJXQOHVVWKHUHVSHFWLYH%RDUGRI'LUHFWRUVHLWKHULQWHQGV we conclude that there is a material misstatement of this other WR OLTXLGDWH WKH HQWLW\ RU WR FHDVH RSHUDWLRQV RU KDV QR UHDOLVWLF LQIRUPDWLRQZHDUHUHTXLUHGWRUHSRUWWKDWIDFW:HKDYHQRWKLQJWR DOWHUQDWLYHEXWWRGRVR UHSRUWLQWKLVUHJDUG 7KH UHVSHFWLYH %RDUG RI 'LUHFWRUV RI WKH HQWLWLHV LQFOXGHG LQ WKH 0DQDJHPHQW¶V DQG %RDUG RI 'LUHFWRUV¶ 5HVSRQVLELOLWLHV *URXSLVUHVSRQVLEOHIRURYHUVHHLQJWKH¿QDQFLDOUHSRUWLQJSURFHVV IRUWKH&RQVROLGDWHG)LQDQFLDO6WDWHPHQWV RIHDFKHQWLW\

7KH +ROGLQJ &RPSDQ\¶V 0DQDJHPHQW DQG %RDUG RI 'LUHFWRUV $XGLWRU¶V 5HVSRQVLELOLWLHV IRU WKH$XGLW RI WKH &RQVROLGDWHG are responsible for the preparation and presentation of these )LQDQFLDO6WDWHPHQWV FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV LQ WHUP RI WKH UHTXLUHPHQWV of the Act that give a true and fair view of the consolidated state 2XUREMHFWLYHVDUHWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHU RI DIIDLUV FRQVROLGDWHG SUR¿W ORVV DQG RWKHU FRPSUHKHQVLYH WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DV D ZKROH DUH IUHH IURP LQFRPH FRQVROLGDWHG VWDWHPHQW RI FKDQJHV LQ HTXLW\ DQG material misstatement, whether due to fraud or error, and to FRQVROLGDWHG FDVK ÀRZV RI WKH *URXS LQ DFFRUGDQFH ZLWK WKH LVVXH DQ DXGLWRU¶V UHSRUW WKDW LQFOXGHV RXU RSLQLRQ 5HDVRQDEOH accounting principles generally accepted in India, including the assurance is a high level of assurance, but is not a guarantee that ,QGLDQ $FFRXQWLQJ 6WDQGDUGV ,QG $6 VSHFL¿HG XQGHU VHFWLRQ an audit conducted in accordance with SAs will always detect a RI WKH $FW 7KH UHVSHFWLYH 0DQDJHPHQW DQG %RDUG RI PDWHULDO PLVVWDWHPHQW ZKHQ LW H[LVWV 0LVVWDWHPHQWV FDQ DULVH 'LUHFWRUVRIWKHHQWLWLHVLQFOXGHGLQWKH*URXSDUHUHVSRQVLEOHIRU from fraud or error and are considered material if, individually or PDLQWHQDQFHRIDGHTXDWHDFFRXQWLQJUHFRUGVLQDFFRUGDQFHZLWK LQWKHDJJUHJDWHWKH\FRXOGUHDVRQDEO\EHH[SHFWHGWRLQÀXHQFH the provisions of the Act for safeguarding the assets of each entity the economic decisions of users taken on the basis of these DQG IRU SUHYHQWLQJ DQG GHWHFWLQJ IUDXGV DQG RWKHU LUUHJXODULWLHV FRQVROLGDWHG¿QDQFLDOVWDWHPHQWV $QQXDO5HSRUW As part of an audit in accordance with SAs, we exercise professional independence, and to communicate with them all relationships MXGJPHQW DQG PDLQWDLQ SURIHVVLRQDO VNHSWLFLVP WKURXJKRXW WKH and other matters that may reasonably be thought to bear on our DXGLW:HDOVR LQGHSHQGHQFHDQGZKHUHDSSOLFDEOHUHODWHGVDIHJXDUGV x Identify and assess the risks of material misstatement of the From the matters communicated with those charged with FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV ZKHWKHU GXH WR IUDXG RU governance, we determine those matters that were of most error, design and perform audit procedures responsive to VLJQL¿FDQFHLQWKHDXGLWRIWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV WKRVH ULVNV DQG REWDLQ DXGLW HYLGHQFH WKDW LV VXI¿FLHQW DQG RI WKH FXUUHQW SHULRG DQG DUH WKHUHIRUH WKH NH\ DXGLW PDWWHUV DSSURSULDWH WR SURYLGH D EDVLV IRU RXU RSLQLRQ 7KH ULVN RI :H GHVFULEH WKHVH PDWWHUV LQ RXU DXGLWRUV¶ UHSRUW XQOHVV ODZ RU not detecting a material misstatement resulting from fraud is regulation precludes public disclosure about the matter or when, higher than for one resulting from error, as fraud may involve in extremely rare circumstances, we determine that a matter collusion, forgery, intentional omissions, misrepresentations, or should not be communicated in our report because the adverse WKHRYHUULGHRILQWHUQDOFRQWURO FRQVHTXHQFHV RI GRLQJ VR ZRXOG UHDVRQDEO\ EH H[SHFWHG WR RXWZHLJKWKHSXEOLFLQWHUHVWEHQH¿WVRIVXFKFRPPXQLFDWLRQ x Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the 2WKHU0DWWHU FLUFXPVWDQFHV8QGHUVHFWLRQ L RIWKH$FWZHDUHDOVR UHVSRQVLEOHIRUH[SUHVVLQJRXURSLQLRQRQWKHLQWHUQDO¿QDQFLDO $WWHQWLRQLVGUDZQWRWKHIDFWWKDWWKHFRUUHVSRQGLQJ¿JXUHVIRUWKH FRQWUROVZLWKUHIHUHQFHWRWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV \HDU HQGHG 0DUFK DUH EDVHG RQ WKH SUHYLRXVO\ LVVXHG and the operating effectiveness of such controls based on our FRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRIWKH*URXSWKDWZHUHDXGLWHG DXGLW E\WKHSUHGHFHVVRUDXGLWRUZKRH[SUHVVHGDQXQPRGL¿HGRSLQLRQ RQWKRVH¿QDQFLDOVWDWHPHQWVRQ0D\ x Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related 2XU RSLQLRQ RQ WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV LV QRW GLVFORVXUHVPDGHE\WKH0DQDJHPHQWDQG%RDUGRI'LUHFWRUV PRGL¿HGLQUHVSHFWRIWKLVPDWWHU RIWKH+ROGLQJ&RPSDQ\ 5HSRUWRQ2WKHU/HJDODQG5HJXODWRU\5HTXLUHPHQWV x &RQFOXGHRQWKHDSSURSULDWHQHVVRI0DQDJHPHQWDQG%RDUG of Directors use of the going concern basis of accounting in $ $VUHTXLUHGE\6HFWLRQ RIWKH$FWEDVHGRQRXUDXGLW SUHSDUDWLRQ RI FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DQG EDVHG we report, to the extent applicable, that: on the audit evidence obtained, whether a material uncertainty H[LVWVUHODWHGWRHYHQWVRUFRQGLWLRQVWKDWPD\FDVWVLJQL¿FDQW D :H KDYH VRXJKW DQG REWDLQHG DOO WKH LQIRUPDWLRQ DQG GRXEW RQ WKH DSSURSULDWHQHVV RI WKLV DVVXPSWLRQ ,I ZH explanations which to the best of our knowledge and FRQFOXGHWKDWDPDWHULDOXQFHUWDLQW\H[LVWVZHDUHUHTXLUHGWR belief were necessary for the purposes of our audit of the GUDZDWWHQWLRQLQRXUDXGLWRU¶VUHSRUWWRWKHUHODWHGGLVFORVXUHV DIRUHVDLGFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV LQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRULIVXFKGLVFORVXUHV DUH LQDGHTXDWH WR PRGLI\ RXU RSLQLRQ 2XU FRQFOXVLRQV DUH E ,Q RXU RSLQLRQ SURSHU ERRNV RI DFFRXQW DV UHTXLUHG E\ based on the audit evidence obtained up to the date of our law relating to preparation of the aforesaid consolidated DXGLWRU¶V UHSRUW +RZHYHU IXWXUH HYHQWV RU FRQGLWLRQV PD\ ¿QDQFLDOVWDWHPHQWVKDYHEHHQNHSWVRIDUDVLWDSSHDUV FDXVHWKH*URXS +ROGLQJFRPSDQ\DQGVXEVLGLDULHV WRFHDVH IURPRXUH[DPLQDWLRQRIWKRVHERRNV WRFRQWLQXHDVDJRLQJFRQFHUQ F 7KH &RQVROLGDWHG %DODQFH 6KHHW WKH &RQVROLGDWHG x Evaluate the overall presentation, structure and content of the 6WDWHPHQW RI 3UR¿W DQG /RVV LQFOXGLQJ RWKHU FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV LQFOXGLQJ WKH GLVFORVXUHV comprehensive income), the Consolidated Statement of DQG ZKHWKHU WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV UHSUHVHQW &KDQJHV LQ (TXLW\ DQG WKH &RQVROLGDWHG 6WDWHPHQW RI the underlying transactions and events in a manner that Cash Flows dealt with by this Report are in agreement with DFKLHYHVIDLUSUHVHQWDWLRQ the relevant books of account maintained for the purpose RISUHSDUDWLRQRIWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV x 2EWDLQ VXI¿FLHQW DSSURSULDWH DXGLW HYLGHQFH UHJDUGLQJ WKH ¿QDQFLDOLQIRUPDWLRQRIVXFKHQWLWLHVRUEXVLQHVVDFWLYLWLHVZLWKLQ G ,Q RXU RSLQLRQ WKH DIRUHVDLG FRQVROLGDWHG ¿QDQFLDO WKH*URXSWRH[SUHVVDQRSLQLRQRQWKHFRQVROLGDWHG¿QDQFLDO VWDWHPHQWV FRPSO\ ZLWK WKH ,QG $6 VSHFL¿HG XQGHU VWDWHPHQWV:HDUHUHVSRQVLEOHIRUWKHGLUHFWLRQVXSHUYLVLRQ VHFWLRQRIWKH$FW DQG SHUIRUPDQFH RI WKH DXGLW RI ¿QDQFLDO LQIRUPDWLRQ RI WKH HQWLWLHVLQFOXGHGLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV:H (e) On the basis of the written representations received UHPDLQVROHO\UHVSRQVLEOHIRURXUDXGLWRSLQLRQ IURP WKH GLUHFWRUV RI WKH +ROGLQJ &RPSDQ\ DV RQ 0DUFK WDNHQ RQ UHFRUG E\ WKH %RDUG RI 'LUHFWRUV :H EHOLHYH WKDW WKH DXGLW HYLGHQFH REWDLQHG E\ XV LV VXI¿FLHQW of the Holding Company and on the basis of written and appropriate to provide a basis for our audit opinion on the representation received by the management from FRQVROLGDWHG¿QDQFLDOVWDWHPHQWV directors of its subsidiaries which are incorporated in ,QGLDDVRQ0DUFKQRQHRIWKHGLUHFWRUVRIWKH :H FRPPXQLFDWH ZLWK WKRVH FKDUJHG ZLWK JRYHUQDQFH RI *URXS¶VFRPSDQLHVLQFRUSRUDWHGLQ,QGLDLVGLVTXDOL¿HGDV the Holding Company and such other entities included in the RQ0DUFKIURPEHLQJDSSRLQWHGDVDGLUHFWRULQ FRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRIZKLFKZHDUHWKHLQGHSHQGHQW WHUPVRI6HFWLRQ RIWKH$FW auditors regarding, among other matters, the planned scope and WLPLQJ RI WKH DXGLW DQG VLJQL¿FDQW DXGLW ¿QGLQJV LQFOXGLQJ DQ\ I :LWK UHVSHFW WR WKH DGHTXDF\ RI WKH LQWHUQDO ¿QDQFLDO VLJQL¿FDQW GH¿FLHQFLHV LQ LQWHUQDO FRQWURO WKDW ZH LGHQWLI\ GXULQJ FRQWUROV ZLWK UHIHUHQFH WR FRQVROLGDWHG ¿QDQFLDO RXUDXGLW statements of the Holding Company and its subsidiary companies incorporated in India and the operating :HDOVRSURYLGHWKRVHFKDUJHGZLWKJRYHUQDQFHZLWKDVWDWHPHQW effectiveness of such controls, refer to our separate WKDWZHKDYHFRPSOLHGZLWKUHOHYDQWHWKLFDOUHTXLUHPHQWVUHJDUGLQJ 5HSRUWLQ³$QQH[XUH$´

Consolidated Financial Statements % :LWK UHVSHFW WR WKH RWKHU PDWWHUV WR EH LQFOXGHG LQ WKH & :LWKUHVSHFWWRWKHPDWWHUWREHLQFOXGHGLQWKH$XGLWRU¶VUHSRUW $XGLWRU¶V5HSRUWLQDFFRUGDQFHZLWK5XOHRIWKH&RPSDQLHV XQGHUVHFWLRQ $XGLWDQG$XGLWRU¶V 5XOHVLQRXURSLQLRQDQGWRWKH best of our information and according to the explanations In our opinion and according to the information and given to us: explanations given to us, the remuneration paid during the current year by the Holding Company and its subsidiary L 7KH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV GLVFORVH WKH companies which are incorporated in India to its respective LPSDFWRISHQGLQJOLWLJDWLRQVDVDW0DUFKRQWKH directors is in accordance with the provisions of Section FRQVROLGDWHG¿QDQFLDOSRVLWLRQRIWKH*URXS5HIHU1RWH RIWKH$FW7KHUHPXQHUDWLRQSDLGWRDQ\GLUHFWRUE\WKH WRWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV Holding Company and its subsidiary companies which are incorporated in India, is not in excess of the limit laid down LL 7KH*URXSGLGQRWKDYHDQ\PDWHULDOIRUHVHHDEOHORVVHV XQGHU6HFWLRQRIWKH$FW7KH0LQLVWU\RI&RUSRUDWH$IIDLUV RQ ORQJWHUP FRQWUDFWV LQFOXGLQJ GHULYDWLYH FRQWUDFWV KDVQRWSUHVFULEHGRWKHUGHWDLOVXQGHU6HFWLRQ ZKLFK GXULQJWKH\HDUHQGHG0DUFK DUHUHTXLUHGWREHFRPPHQWHGXSRQE\XV

iii) There has been no delay in transferring amounts to the For %65 &R//3 Investor Education and Protection Fund by the Holding Chartered Accountants Company and its subsidiary companies incorporated in )LUP¶V5HJLVWUDWLRQ1R:: ,QGLDGXULQJWKH\HDUHQGHG0DUFKDQG 9LNUDP$GYDQL LY 7KHGLVFORVXUHVLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV Partner UHJDUGLQJKROGLQJVDVZHOODVGHDOLQJVLQVSHFL¿HGEDQN 0HPEHUVKLS1R QRWHV GXULQJ WKH SHULRG IURP 1RYHPEHU WR ,&$,8',1$$$$%( 'HFHPEHUKDYHQRWEHHQPDGHLQWKHFRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV VLQFH WKH\ GR QRW SHUWDLQ WR WKH 3ODFH*XUXJUDP,QGLD ¿QDQFLDO\HDUHQGHG0DUFK 'DWH0D\

$QQXDO5HSRUW $QQH[XUH $ WR WKH ,QGHSHQGHQW $XGLWRUV¶ UHSRUW RQ WKH HYLGHQFH DERXW WKH DGHTXDF\ RI WKH LQWHUQDO ¿QDQFLDO FRQWUROV FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV RI +&/ 7HFKQRORJLHV ZLWK UHIHUHQFH WR FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DQG WKHLU /LPLWHGIRUWKH\HDUHQGHG0DUFK RSHUDWLQJHIIHFWLYHQHVV2XUDXGLWRILQWHUQDO¿QDQFLDOFRQWUROVZLWK UHIHUHQFHWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVLQFOXGHGREWDLQLQJ 5HSRUWRQWKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRWKH DQ XQGHUVWDQGLQJ RI LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH DIRUHVDLGFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVXQGHU&ODXVH L WR FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DVVHVVLQJ WKH ULVN WKDW D RI6XEVHFWLRQRI6HFWLRQRIWKH&RPSDQLHV$FW material weakness exists, and testing and evaluating the design and operating effectiveness of the internal controls based on the 5HIHUUHGWRLQSDUDJUDSK$ I XQGHUµ5HSRUWRQ2WKHU/HJDODQG DVVHVVHGULVN7KHSURFHGXUHVVHOHFWHGGHSHQGRQWKHDXGLWRU¶V 5HJXODWRU\5HTXLUHPHQWV¶VHFWLRQRIRXUUHSRUWRIHYHQGDWH MXGJHPHQW LQFOXGLQJ WKH DVVHVVPHQW RI WKH ULVNV RI PDWHULDO PLVVWDWHPHQW RI WKH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV ZKHWKHU Opinion GXHWRIUDXGRUHUURU

,Q FRQMXQFWLRQ ZLWK RXU DXGLW RI WKH FRQVROLGDWHG ¿QDQFLDO :HEHOLHYHWKDWWKHDXGLWHYLGHQFHZHKDYHREWDLQHGLVVXI¿FLHQW statements of HCL Technologies Limited (hereinafter referred to and appropriate to provide a basis for our audit opinion on the DV³WKH+ROGLQJ&RPSDQ\´ DVRIDQGIRUWKH\HDUHQGHG0DUFK LQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDO ZHKDYHDXGLWHGWKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFH VWDWHPHQWV WRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRIWKH+ROGLQJ&RPSDQ\DQG such companies incorporated in India under the Companies Act, 0HDQLQJ RI ,QWHUQDO )LQDQFLDO FRQWUROV ZLWK 5HIHUHQFH WR ZKLFKDUHLWVVXEVLGLDU\FRPSDQLHVDVRIWKDWGDWH &RQVROLGDWHG)LQDQFLDO6WDWHPHQWV

In our opinion, the Holding Company and such companies $ FRPSDQ\¶V LQWHUQDO ¿QDQFLDO FRQWUROV ZLWK UHIHUHQFH WR incorporated in India which are its subsidiary companies, have, in all FRQVROLGDWHG¿QDQFLDOVWDWHPHQWVLVDSURFHVVGHVLJQHGWRSURYLGH PDWHULDOUHVSHFWVDGHTXDWHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFH UHDVRQDEOHDVVXUDQFHUHJDUGLQJWKHUHOLDELOLW\RI¿QDQFLDOUHSRUWLQJ WR FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DQG VXFK LQWHUQDO ¿QDQFLDO DQGWKHSUHSDUDWLRQRI¿QDQFLDOVWDWHPHQWVIRUH[WHUQDOSXUSRVHV FRQWUROVZHUHRSHUDWLQJHIIHFWLYHO\DVDW0DUFKEDVHGRQ LQ DFFRUGDQFH ZLWK JHQHUDOO\ DFFHSWHG DFFRXQWLQJ SULQFLSOHV $ WKHLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDO FRPSDQ\¶VLQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG statements criteria established by such companies considering ¿QDQFLDOVWDWHPHQWVLQFOXGHVWKRVHSROLFLHVDQGSURFHGXUHVWKDW the essential components of such internal controls stated in the SHUWDLQWRWKHPDLQWHQDQFHRIUHFRUGVWKDWLQUHDVRQDEOHGHWDLO *XLGDQFH1RWHRQ$XGLWRI,QWHUQDO)LQDQFLDO&RQWUROV2YHU)LQDQFLDO DFFXUDWHO\ DQG IDLUO\ UHÀHFW WKH WUDQVDFWLRQV DQG GLVSRVLWLRQV RI Reporting issued by the Institute of Chartered Accountants of India WKH DVVHWV RI WKH FRPSDQ\ SURYLGH UHDVRQDEOH DVVXUDQFH WKH³*XLGDQFH1RWH´ that transactions are recorded as necessary to permit preparation RI ¿QDQFLDO VWDWHPHQWV LQ DFFRUGDQFH ZLWK JHQHUDOO\ DFFHSWHG 0DQDJHPHQW¶V5HVSRQVLELOLW\IRU,QWHUQDO)LQDQFLDO&RQWUROV accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations 7KHUHVSHFWLYH&RPSDQ\¶VPDQDJHPHQWDQGWKH%RDUGRI'LUHFWRUV RI PDQDJHPHQW DQG GLUHFWRUV RI WKH FRPSDQ\ DQG SURYLGH DUHUHVSRQVLEOHIRUHVWDEOLVKLQJDQGPDLQWDLQLQJLQWHUQDO¿QDQFLDO reasonable assurance regarding prevention or timely detection FRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVEDVHG RIXQDXWKRULVHGDFTXLVLWLRQXVHRUGLVSRVLWLRQRIWKHFRPSDQ\¶V on the criteria established by the respective Company considering DVVHWVWKDWFRXOGKDYHDPDWHULDOHIIHFWRQWKH¿QDQFLDOVWDWHPHQWV WKHHVVHQWLDOFRPSRQHQWVRILQWHUQDOFRQWUROVWDWHGLQWKH*XLGDQFH 1RWH 7KHVH UHVSRQVLELOLWLHV LQFOXGH WKH GHVLJQ LPSOHPHQWDWLRQ ,QKHUHQW /LPLWDWLRQV RI ,QWHUQDO )LQDQFLDO FRQWUROV ZLWK DQG PDLQWHQDQFH RI DGHTXDWH LQWHUQDO ¿QDQFLDO FRQWUROV WKDW 5HIHUHQFHWRFRQVROLGDWHG)LQDQFLDO6WDWHPHQWV ZHUH RSHUDWLQJ HIIHFWLYHO\ IRU HQVXULQJ WKH RUGHUO\ DQG HI¿FLHQW conduct of its business, including adherence to the respective %HFDXVH RI WKH LQKHUHQW OLPLWDWLRQV RI LQWHUQDO ¿QDQFLDO FRQWUROV FRPSDQ\¶VSROLFLHVWKHVDIHJXDUGLQJRILWVDVVHWVWKHSUHYHQWLRQ ZLWK UHIHUHQFH WR FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV LQFOXGLQJ and detection of frauds and errors, the accuracy and completeness the possibility of collusion or improper management override of of the accounting records, and the timely preparation of reliable controls, material misstatements due to error or fraud may occur ¿QDQFLDOLQIRUPDWLRQDVUHTXLUHGXQGHUWKH&RPSDQLHV$FW DQG QRW EH GHWHFWHG $OVR SURMHFWLRQV RI DQ\ HYDOXDWLRQ RI WKH KHUHLQDIWHUUHIHUUHGWRDV³WKH$FW´ LQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDO VWDWHPHQWV WR IXWXUH SHULRGV DUH VXEMHFW WR WKH ULVN WKDW WKH $XGLWRUV¶5HVSRQVLELOLW\ LQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDO VWDWHPHQWV PD\ EHFRPH LQDGHTXDWH EHFDXVH RI FKDQJHV LQ 2XUUHVSRQVLELOLW\LVWRH[SUHVVDQRSLQLRQRQWKHLQWHUQDO¿QDQFLDO conditions, or that the degree of compliance with the policies or FRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVEDVHG SURFHGXUHVPD\GHWHULRUDWH RQ RXU DXGLW :H FRQGXFWHG RXU DXGLW LQ DFFRUGDQFH ZLWK WKH *XLGDQFH1RWHDQGWKH6WDQGDUGVRQ$XGLWLQJSUHVFULEHGXQGHU For %65 &R//3 VHFWLRQ RIWKH$FWWRWKHH[WHQWDSSOLFDEOHWRDQDXGLWRI Chartered Accountants LQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDO )LUP¶V5HJLVWUDWLRQ1R:: VWDWHPHQWV 7KRVH 6WDQGDUGV DQG WKH *XLGDQFH 1RWH UHTXLUH WKDW ZH FRPSO\ ZLWK HWKLFDO UHTXLUHPHQWV DQG SODQ DQG SHUIRUP 9LNUDP$GYDQL WKHDXGLWWRREWDLQUHDVRQDEOHDVVXUDQFHDERXWZKHWKHUDGHTXDWH Partner LQWHUQDO¿QDQFLDOFRQWUROVZLWKUHIHUHQFHWRFRQVROLGDWHG¿QDQFLDO 0HPEHUVKLS1R statements were established and maintained and if such controls ,&$,8',1$$$$%( RSHUDWHGHIIHFWLYHO\LQDOOPDWHULDOUHVSHFWV 3ODFH*XUXJUDP,QGLD Our audit involves performing procedures to obtain audit 'DWH0D\

Consolidated Financial Statements &RQVROLGDWHG%DODQFH6KHHWDVDW0DUFK $OODPRXQWVLQFURUHVRI৷

As at As at Note No. 0DUFK 0DUFK I ASSETS 1RQFXUUHQWDVVHWV D 3URSHUW\SODQWDQGHTXLSPHQW (b) Capital work in progress F 5LJKWRIXVHDVVHWV G *RRGZLOO (e) Other intangible assets (f) Financial assets (i) Investments 77 85 (ii) Loans (iii) Others (g) Deferred tax assets (net) K 2WKHUQRQFXUUHQWDVVHWV &XUUHQWDVVHWV (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables LLL &DVKDQGFDVKHTXLYDOHQWV D (iv) Other bank balances E (v) Loans (vi) Others (c) Current tax assets (net) (d) Other current assets

TOTAL ASSETS

II EQUITY D (TXLW\VKDUHFDSLWDO E 2WKHUHTXLW\ (TXLW\DWWULEXWDEOHWRVKDUHKROGHUVRIWKH&RPSDQ\ Non controlling interest TOTAL EQUITY

III LIABILITIES 1RQFXUUHQWOLDELOLWLHV (a) Financial liabilities L %RUURZLQJV (ii) Lease liabilities (iii) Others (b) Provisions (c) Deferred tax liabilities (net) 87 G 2WKHUQRQFXUUHQWOLDELOLWLHV &XUUHQWOLDELOLWLHV (a) Financial liabilities L %RUURZLQJV (ii) Trade payables (iii) Lease liabilities (iv) Others (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net)

TOTAL EQUITY AND LIABILITIES 6XPPDU\RIVLJQL¿FDQWDFFRXQWLQJSROLFLHV 7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV As per our report of even date attached )25%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG &KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU Partner Chairman and Director President and 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ *XUXJUDP,QGLD 1RLGD 83 ,QGLD 0D\ 0D\ $QQXDO5HSRUW &RQVROLGDWHG6WDWHPHQWRI3UR¿WDQG/RVVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷

Note

II Expenses 3XUFKDVHRIVWRFNLQWUDGH &KDQJHVLQLQYHQWRULHVRIVWRFNLQWUDGH (PSOR\HHEHQH¿WVH[SHQVH Finance costs Depreciation and amortization expense Outsourcing costs Other expenses Total expenses

III 3UR¿WEHIRUHWD[

,9 Tax expense Current tax Deferred tax charge (credit) Total tax expense

9 3UR¿WIRUWKH\HDU

9, 2WKHUFRPSUHKHQVLYHLQFRPH (A) L ,WHPVWKDWZLOOQRWEHUHFODVVL¿HGWRVWDWHPHQWRISUR¿WDQGORVV (85) LL ,QFRPHWD[RQLWHPVWKDWZLOOQRWEHUHFODVVL¿HGWRVWDWHPHQWRISUR¿WDQGORVV % L ,WHPVWKDWZLOOEHUHFODVVL¿HGVXEVHTXHQWO\WRVWDWHPHQWRISUR¿WDQGORVV LL ,QFRPHWD[RQLWHPVWKDWZLOOEHUHFODVVL¿HGVXEVHTXHQWO\WRVWDWHPHQWRISUR¿W and loss 9,, 7RWDORWKHUFRPSUHKHQVLYHLQFRPH

9,,, 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDU

3UR¿WIRUWKH\HDUDWWULEXWDEOHWR Shareholders of the Company 1RQFRQWUROOLQJLQWHUHVW 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDUDWWULEXWDEOHWR Shareholders of the Company 1RQFRQWUROOLQJLQWHUHVW Earnings per equity share of ൘HDFK %DVLF LQ൘ 'LOXWHG LQ൘ 6XPPDU\RIVLJQL¿FDQWDFFRXQWLQJSROLFLHV 7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV As per our report of even date attached )25%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG &KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU Partner Chairman and Director President and 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ *XUXJUDP,QGLD 1RLGD 83 ,QGLD 0D\ 0D\

Consolidated Financial Statements Total Equity - 11 Non Interests Controlling to of the &RPSDQ\ $WWULEXWDEOH 6KDUHKROGHUV 'HEW LQFRPH LQVWUXPHQWV through other FRPSUHKHQVLYH 171 ÀRZ Cash UHVHUYH KHGJLQJ UHVHUYH Foreign FXUUHQF\ translation Other equity 6SHFLDO UHVHUYH UHLQYHVWPHQW HFRQRPLF]RQH 5 (7) (5) Share EDVHG UHVHUYH SD\PHQW 7 14 14 - Capital UHVHUYH UHGHPSWLRQ 7 5 5 5HVHUYHVDQG6XUSOXV 2WKHUFRPSUHKHQVLYHLQFRPH SUHPLXP 6HFXULWLHV ------7 - - - - - UHVHUYH General 8 earnings 5HWDLQHG (7) 1RLGD 83 ,QGLD 0D\ 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG Chairman and Director President and Share FDSLWDO - - - - of shares 1XPEHU (TXLW\VKDUHFDSLWDO ൘ 5 per share (including tax on ൘FURUHV ([FHVVWD[EHQH¿WIURPVKDUHEDVHGSD\PHQWV %DODQFHDVDW0DUFK %DODQFHDVDW$SULO ,VVXHRIERQXVVKDUHV UHIHUQRWH 3UR¿WIRUWKH\HDU2WKHUFRPSUHKHQVLYHLQFRPH UHIHUQRWH 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDU Dividend of dividend of 7UDQVIHUWRVSHFLDOHFRQRPLF]RQHUHLQYHVWPHQW reserve &KDQJHLQQRQFRQWUROOLQJLQWHUHVW %DODQFHDVDW0DUFK 5HIHUQRWHIRUVXPPDU\RIVLJQL¿FDQWDFFRXQWLQJSROLFLHV Transfer to retained earnings Transfer Shares issued for exercised options &KDQJHLQQRQFRQWUROOLQJLQWHUHVW UHIHUQRWH Transfer from special economic zone Transfer UHLQYHVWPHQWUHVHUYH %X\EDFNRIHTXLW\VKDUHV UHIHUQRWH 'LYLGHQGRI൘SHUVKDUH LQFOXGLQJWD[RQGLYLGHQG RI൘FURUHV Shares issued for exercised options ([SHQVHVRQEX\EDFNRIHTXLW\VKDUHV UHIHUQRWH 7RWDOFRPSUHKHQVLYHLQFRPHIRUWKH\HDU 3UR¿WIRUWKH\HDU2WKHUFRPSUHKHQVLYHLQFRPH UHIHUQRWH 7UDQVIHUWRVSHFLDOHFRQRPLF]RQHUHLQYHVWPHQW reserve &RQVROLGDWHG6WDWHPHQWRI&KDQJHVLQ(TXLW\IRUWKH\HDUHQGHG 0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWK HUZLVH %DODQFHDVDW$SULO 7UDQVIHUIURPVSHFLDOHFRQRPLF]RQHUHLQYHVWPHQW reserve *XUXJUDP,QGLD 0D\ &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU Partner 7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHFRQVROLGDWHG ¿QDQFLDOVWDWHPHQWV As per our report of even date attached )25%65 &R//3&KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU

$QQXDO5HSRUW &RQVROLGDWHG6WDWHPHQWRI&DVKÀRZVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷

B. &DVKÀRZVIURPLQYHVWLQJDFWLYLWLHV Investments in bank deposits Proceeds from bank deposits on maturity Purchase of investments in securities Proceeds from sale/maturity of investments in securities ,QYHVWPHQWLQHTXLW\LQVWUXPHQWV Deposits placed with body corporates Proceeds from maturity of deposits placed with body corporates 3D\PHQWVIRUEXVLQHVVDFTXLVLWLRQVQHWRIFDVKDFTXLUHG Investment in limited liability partnership Distribution from limited liability partnership 3XUFKDVHRISURSHUW\SODQWDQGHTXLSPHQWDQGLQWDQJLEOHV 3URFHHGVIURPVDOHRISURSHUW\SODQWDQGHTXLSPHQW Interest received Taxes paid 1HWFDVKÀRZXVHGLQLQYHVWLQJDFWLYLWLHV %

C. &DVKÀRZVIURP¿QDQFLQJDFWLYLWLHV Proceeds from long term borrowings Repayment of long term borrowings Proceeds from short term borrowings Repayment of short term borrowings 3D\PHQWVIRUGHIHUUHGDQGFRQWLQJHQWFRQVLGHUDWLRQRQEXVLQHVVDFTXLVLWLRQV %X\EDFNRIHTXLW\VKDUHV ([SHQVHVRQEX\EDFNRIHTXLW\VKDUHV Dividend paid Corporate dividend tax

Consolidated Financial Statements &RQVROLGDWHG6WDWHPHQWRI&DVKÀRZVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷

1HWLQFUHDVH GHFUHDVH LQFDVKDQGFDVKHTXLYDOHQWV $%& (IIHFWRIH[FKDQJHGLIIHUHQFHVRQFDVKDQGFDVKHTXLYDOHQWVKHOGLQ IRUHLJQFXUUHQF\ &DVKDQGFDVKHTXLYDOHQWVDWWKHEHJLQQLQJRIWKH\HDU &DVKDQGFDVKHTXLYDOHQWVDWWKHHQGRIWKH\HDUDVSHUQRWH D

1RWHV 5HFRQFLOLDWLRQRIOLDELOLWLHVDULVLQJIURP¿QDQFLQJDFWLYLWLHV

/RQJWHUP 6KRUWWHUP ERUURZLQJV 'HIHUUHGDQG ERUURZLQJV LQFOXGLQJ FRQWLQJHQW H[FOXGLQJEDQN FXUUHQW FRQVLGHUDWLRQ RYHUGUDIW PDWXULWLHV %DODQFHDVDW$SULO - &DVKÀRZV Non cash changes %XVLQHVVFRPELQDWLRQ 8 Effect of foreign currency translation 5HFRJQL]HGLQSUR¿WDQGORVV (78) %DODQFHDVDW0DUFK %DODQFHDVDW$SULO &DVKÀRZV Non cash changes %XVLQHVVFRPELQDWLRQ Exchange differences (net) Effect of foreign currency translation 7 5HFRJQL]HGLQSUR¿WDQGORVV %DODQFHDVDW0DUFK 7KHWRWDODPRXQWRILQFRPHWD[HVSDLGLV൘FURUHV SUHYLRXV\HDU൘FURUHV

&DVKDQGFDVKHTXLYDOHQWVLQFOXGHVLQYHVWRUHGXFDWLRQDQGSURWHFWLRQIXQGXQFODLPHGGLYLGHQGRI൘FURUHV SUHYLRXV\HDU൘FURUHV

7KHDFFRPSDQ\LQJQRWHVDUHDQLQWHJUDOSDUWRIWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV As per our report of even date attached )25%65 &R//3 )RUDQGRQEHKDOIRIWKH%RDUGRI'LUHFWRUVRI+&/7HFKQRORJLHV/LPLWHG &KDUWHUHG$FFRXQWDQWV )LUP¶V5HJLVWUDWLRQ1R:: 9LNUDP$GYDQL 6KLY1DGDU 60DGKDYDQ &9LMD\DNXPDU Partner Chairman and Director President and 0HPEHUVKLS1XPEHU &KLHI6WUDWHJ\2I¿FHU &KLHI([HFXWLYH2I¿FHU 3UDWHHN$JJDUZDO 3UDKODG5DL%DQVDO 0DQLVK$QDQG &KLHI)LQDQFLDO2I¿FHU 'HSXW\&KLHI)LQDQFLDO2I¿FHU &RPSDQ\6HFUHWDU\ *XUXJUDP,QGLD 1RLGD 83 ,QGLD 0D\ 0D\

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

25*$1,=$7,21$1'1$785(2)23(5$7,216

HCL Technologies Limited (hereinafter referred to as “the Company” or “the Parent Company”) and its subsidiaries (hereinafter collectively UHIHUUHGWRDV³WKH*URXS´ DUHSULPDULO\HQJDJHGLQSURYLGLQJDUDQJHRI,7DQGEXVLQHVVVHUYLFHVHQJLQHHULQJDQG5 'VHUYLFHVDQG SURGXFWV SODWIRUPVVHUYLFHV7KH&RPSDQ\ZDVLQFRUSRUDWHGXQGHUWKHSURYLVLRQVRIWKH&RPSDQLHV$FWDSSOLFDEOHLQ,QGLDLQ1RYHPEHU KDYLQJLWVUHJLVWHUHGRI¿FHDW6LGGKDUWK1HKUX3ODFH1HZ'HOKL7KH*URXSOHYHUDJHVLWVRIIVKRUHLQIUDVWUXFWXUH DQGSURIHVVLRQDOVWRGHOLYHUVROXWLRQVDFURVVVHOHFWYHUWLFDOVLQFOXGLQJ¿QDQFLDOVHUYLFHVPDQXIDFWXULQJ DXWRPRWLYHDHURVSDFH+LWHFK VHPLFRQGXFWRUV OLIHVFLHQFHV KHDOWKFDUHSXEOLFVHUYLFHV RLODQGJDVHQHUJ\DQGXWLOLW\WUDYHOWUDQVSRUWDQGORJLVWLFV UHWDLODQG FRQVXPHUSURGXFWVWHOHFRPPHGLDSXEOLVKLQJDQGHQWHUWDLQPHQW

7KH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV IRU WKH \HDU HQGHG 0DUFK ZHUH DSSURYHG DQG DXWKRUL]HG IRU LVVXH E\ WKH %RDUG RI 'LUHFWRUVRQ0D\

6800$5<2)6,*1,),&$17$&&2817,1*32/,&,(6

D Basis of preparation

7KH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV RI WKH *URXS KDYH EHHQ SUHSDUHG LQ DFFRUGDQFH ZLWK UHFRJQLWLRQ DQG PHDVXUHPHQW SULQFLSOHVODLGGRZQLQ,QGLDQ$FFRXQWLQJ6WDQGDUGV ,QG$6 SUHVFULEHGXQGHUVHFWLRQRIWKH&RPSDQLHV$FWUHDGZLWK WKH&RPSDQLHV ,QGLDQ$FFRXQWLQJ6WDQGDUGV 5XOHVDVDPHQGHGIURPWLPHWRWLPHDQGSUHVHQWDWLRQUHTXLUHPHQWVRI6FKHGXOH ,,, 'LYLVLRQ,, WRWKH&RPSDQLHV$FWDVDSSOLFDEOHWRWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

7KHVHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVKDYHEHHQSUHSDUHGXQGHUWKHKLVWRULFDOFRVWFRQYHQWLRQRQDQDFFUXDODQGJRLQJ concern basis, except for the following assets and liabilities which have been measured at fair value:

D 'HULYDWLYH¿QDQFLDOLQVWUXPHQWV

E &HUWDLQ¿QDQFLDODVVHWVDQGOLDELOLWLHV UHIHUDFFRXQWLQJSROLF\UHJDUGLQJ¿QDQFLDOLQVWUXPHQWV

7KH DFFRXQWLQJ SROLFLHV DGRSWHG LQ WKH SUHSDUDWLRQ RI WKHVH FRQVROLGDWHG ¿QDQFLDO VWDWHPHQWV DUH FRQVLVWHQW ZLWK WKRVH RI the previous year except where a newly issued accounting standard is initially adopted or a revision to an existing accounting VWDQGDUGUHTXLUHVDFKDQJHLQWKHDFFRXQWLQJSROLF\

$OODVVHWVDQGOLDELOLWLHVKDYHEHHQFODVVL¿HGDVFXUUHQWDQGQRQFXUUHQWDVSHUWKH*URXS¶VQRUPDORSHUDWLQJF\FOHRIPRQWKV 7KHVWDWHPHQWRIFDVKÀRZVKDVEHHQSUHSDUHGXQGHULQGLUHFWPHWKRG

7KH*URXSXVHVWKH,QGLDQUXSHH µ൘¶ DVLWVUHSRUWLQJFXUUHQF\

E Basis of Consolidation

7KHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVFRPSULVHWKH¿QDQFLDOVWDWHPHQWVRI+&/7HFKQRORJLHV/LPLWHGWKH3DUHQW&RPSDQ\DQG LWVVXEVLGLDULHV&RQVROLGDWLRQRIDVXEVLGLDU\EHJLQVZKHQWKH*URXSREWDLQVFRQWURORYHUWKHVXEVLGLDU\DQGFHDVHVZKHQWKH *URXSORVHVFRQWURORIWKHVXEVLGLDU\

&RQWUROLVDFKLHYHGZKHQWKH*URXSLVH[SRVHGRUKDVULJKWVWRYDULDEOHUHWXUQVIURPLWVLQYROYHPHQWZLWKWKHLQYHVWHHDQGKDV WKHDELOLW\WRDIIHFWWKRVHUHWXUQVWKURXJKLWVSRZHURYHUWKHLQYHVWHH6SHFL¿FDOO\WKH*URXSFRQWUROVDQLQYHVWHHLIDQGRQO\LI WKH*URXSKDV

D 3RZHURYHUWKHLQYHVWHH LHH[LVWLQJULJKWVWKDWJLYHLWWKHFXUUHQWDELOLW\WRGLUHFWWKHUHOHYDQWDFWLYLWLHVRIWKHLQYHVWHH

b) Exposure, or rights, to variable returns from its involvement with the investee, and

F 7KHDELOLW\WRXVHLWVSRZHURYHUWKHLQYHVWHHWRDIIHFWLWVUHWXUQV

*HQHUDOO\WKHUHLVDSUHVXPSWLRQWKDWDPDMRULW\RIYRWLQJULJKWVUHVXOWLQFRQWURO7RVXSSRUWWKLVSUHVXPSWLRQDQGZKHQWKH*URXS KDVOHVVWKDQDPDMRULW\RIWKHYRWLQJRUVLPLODUULJKWVRIDQLQYHVWHHWKH*URXSFRQVLGHUVDOOUHOHYDQWIDFWVDQGFLUFXPVWDQFHV in assessing whether it has power over an investee, including:

a) The contractual arrangement with the other vote holders of the investee

b) Rights arising from other contractual arrangements

F 7KH*URXS¶VYRWLQJULJKWVDQGSRWHQWLDOYRWLQJULJKWV

7KH*URXSUHDVVHVVHVZKHWKHURUQRWLWFRQWUROVDQLQYHVWHHLIIDFWVDQGFLUFXPVWDQFHVLQGLFDWHWKDWWKHUHDUHFKDQJHVWRRQH RUPRUHRIWKHWKUHHHOHPHQWVRIFRQWURO

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KH¿QDQFLDOVWDWHPHQWVRIWKHVXEVLGLDULHVLQWKH*URXSDUHDGGHGRQDOLQHE\OLQHEDVLVDQGLQWHUFRPSDQ\EDODQFHVDQG WUDQVDFWLRQVLQFOXGLQJXQUHDOL]HGJDLQORVVIURPVXFKWUDQVDFWLRQVDUHHOLPLQDWHGXSRQFRQVROLGDWLRQ7KHFRQVROLGDWHG¿QDQFLDO VWDWHPHQWVDUHSUHSDUHGE\DSSO\LQJXQLIRUPDFFRXQWLQJSROLFLHVLQXVHE\WKH*URXS

F Use of estimates

7KHSUHSDUDWLRQRIFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVLQFRQIRUPLW\ZLWK,QG$6UHTXLUHVWKHPDQDJHPHQWWRPDNHHVWLPDWHV and assumptions that affect the reported amounts of assets, liabilities, revenue, expenses and other comprehensive income 2&, WKDWDUHUHSRUWHGDQGGLVFORVHGLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVDQGDFFRPSDQ\LQJQRWHV7KHVHHVWLPDWHVDUH EDVHGRQWKHPDQDJHPHQW¶VEHVWNQRZOHGJHRIFXUUHQWHYHQWVKLVWRULFDOH[SHULHQFHDFWLRQVWKDWWKH*URXSPD\XQGHUWDNHLQ WKHIXWXUHDQGRQYDULRXVRWKHUDVVXPSWLRQVWKDWDUHEHOLHYHGWREHUHDVRQDEOHXQGHUWKHFLUFXPVWDQFHV6LJQL¿FDQWHVWLPDWHV and assumptions are used for, but not limited to, accounting for costs expected to be incurred to complete performance under ¿[HG SULFH SURMHFWV DOORZDQFH IRU XQFROOHFWLEOH DFFRXQWV UHFHLYDEOHV DFFUXDO RI ZDUUDQW\ FRVWV LQFRPH WD[HV YDOXDWLRQ RI VKDUHEDVHGFRPSHQVDWLRQIXWXUHREOLJDWLRQVXQGHUHPSOR\HHEHQH¿WSODQVWKHXVHIXOOLYHVRISURSHUW\SODQWDQGHTXLSPHQW intangible assets, impairment of goodwill, the measurement of lease liabilities and right of use assets, and other contingencies DQGFRPPLWPHQWV&KDQJHVLQHVWLPDWHVDUHUHÀHFWHGLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVLQWKH\HDULQZKLFKWKHFKDQJHV DUHPDGH$FWXDOUHVXOWVFRXOGGLIIHUIURPWKRVHHVWLPDWHV

G Business combinations and goodwill

%XVLQHVV FRPELQDWLRQV DUH DFFRXQWHG IRU XVLQJ WKH DFTXLVLWLRQ PHWKRG7KH FRVW RI DQ DFTXLVLWLRQ LV WKH DJJUHJDWH RI WKH FRQVLGHUDWLRQ WUDQVIHUUHG PHDVXUHG DW IDLU YDOXH DW WKH DFTXLVLWLRQ GDWH DQG WKH DPRXQW RI DQ\ QRQFRQWUROOLQJ LQWHUHVW LQ WKHDFTXLUHH)RUHDFKEXVLQHVVFRPELQDWLRQWKH*URXSPHDVXUHVWKHQRQFRQWUROOLQJLQWHUHVWLQWKHDFTXLUHHDWIDLUYDOXH $FTXLVLWLRQUHODWHGFRVWVDUHH[SHQVHGDVLQFXUUHG

*RRGZLOO LV LQLWLDOO\ PHDVXUHG DW FRVW EHLQJ WKH H[FHVV RI WKH DJJUHJDWH RI WKH FRQVLGHUDWLRQ WUDQVIHUUHG DQG WKH DPRXQW UHFRJQL]HGIRUQRQFRQWUROOLQJLQWHUHVWDQGDQ\SUHYLRXVLQWHUHVWKHOGRYHUWKHQHWLGHQWL¿DEOHDVVHWVDFTXLUHGDQGOLDELOLWLHV DVVXPHG,IWKHIDLUYDOXHRIWKHQHWDVVHWVDFTXLUHGLVLQH[FHVVRIWKHDJJUHJDWHFRQVLGHUDWLRQWUDQVIHUUHGWKHH[FHVVLV UHFRJQL]HGDVFDSLWDOUHVHUYHDIWHUUHDVVHVVLQJWKHIDLUYDOXHVRIWKHQHWDVVHWV

H Foreign currency and translation

7KH*URXS¶VFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVDUHSUHVHQWHGLQ,QGLDQ5XSHH ൘ ZKLFKLVDOVRWKHSDUHQWFRPSDQ\¶VIXQFWLRQDO FXUUHQF\)RUHDFKHQWLW\WKH*URXSGHWHUPLQHVWKHIXQFWLRQDOFXUUHQF\DQGLWHPVLQFOXGHGLQWKH¿QDQFLDOVWDWHPHQWVRIHDFK HQWLW\DUHPHDVXUHGXVLQJWKDWIXQFWLRQDOFXUUHQF\7KH*URXSXVHVWKHGLUHFWPHWKRGRIFRQVROLGDWLRQDQGRQGLVSRVDORIDIRUHLJQ RSHUDWLRQWKHJDLQRUORVVWKDWLVUHFODVVL¿HGWRWKHVWDWHPHQWRISUR¿WDQGORVVUHÀHFWVWKHDPRXQWWKDWDULVHVIURPXVLQJWKLVPHWKRG

7UDQVDFWLRQV LQ IRUHLJQ FXUUHQFLHV DUH LQLWLDOO\ UHFRUGHG E\ WKH *URXS¶V HQWLWLHV DW WKHLU UHVSHFWLYH IXQFWLRQDO FXUUHQF\ VSRW UDWHV DW WKH GDWH RI WKH WUDQVDFWLRQ )RUHLJQ FXUUHQF\ GHQRPLQDWHG PRQHWDU\ DVVHWV DQG OLDELOLWLHV DUH WUDQVODWHG WR WKH UHOHYDQWIXQFWLRQDOFXUUHQF\DWH[FKDQJHUDWHVLQHIIHFWDWWKHEDODQFHVKHHWGDWH([FKDQJHGLIIHUHQFHVDULVLQJRQVHWWOHPHQW RUWUDQVODWLRQRIPRQHWDU\LWHPVDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV1RQPRQHWDU\DVVHWVDQGQRQPRQHWDU\ liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate prevalent at the GDWHRILQLWLDOWUDQVDFWLRQ1RQPRQHWDU\DVVHWVDQGQRQPRQHWDU\OLDELOLWLHVGHQRPLQDWHGLQDIRUHLJQFXUUHQF\DQGPHDVXUHGDW IDLUYDOXHDUHWUDQVODWHGDWWKHH[FKDQJHUDWHSUHYDOHQWDWWKHGDWHZKHQWKHIDLUYDOXHZDVGHWHUPLQHG

The translation of foreign operations from respective functional currency into INR (the reporting currency) for assets and OLDELOLWLHVLVSHUIRUPHGXVLQJWKHH[FKDQJHUDWHVLQHIIHFWDWWKHEDODQFHVKHHWGDWHDQGIRUUHYHQXHH[SHQVHVDQGFDVKÀRZVLV SHUIRUPHGXVLQJDQDSSURSULDWHGDLO\ZHLJKWHGDYHUDJHH[FKDQJHUDWHIRUWKHUHVSHFWLYH\HDUV7KHH[FKDQJHGLIIHUHQFHVDULVLQJ RQWUDQVODWLRQIRUFRQVROLGDWLRQDUHUHSRUWHGDVDFRPSRQHQWRIµRWKHUFRPSUHKHQVLYHLQFRPH ORVV ¶2QGLVSRVDORIDIRUHLJQ RSHUDWLRQWKHFRPSRQHQWRI2&,UHODWLQJWRWKDWSDUWLFXODUIRUHLJQRSHUDWLRQLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

I Fair value measurement

7KH*URXSUHFRUGVFHUWDLQ¿QDQFLDODVVHWVDQGOLDELOLWLHVDWIDLUYDOXHRQDUHFXUULQJEDVLV7KH*URXSGHWHUPLQHVIDLUYDOXHVEDVHG on the price it would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market for that assHWRUOLDELOLW\

7KH*URXSKROGVFHUWDLQ¿[HGLQFRPHVHFXULWLHVHTXLW\VHFXULWLHVDQGGHULYDWLYHVZKLFKPXVWEHPHDVXUHGXVLQJWKHJXLGDQFH

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

IRUIDLUYDOXHKLHUDUFK\DQGUHODWHGYDOXDWLRQPHWKRGRORJLHV7KHJXLGDQFHVSHFL¿HVDKLHUDUFK\RIYDOXDWLRQWHFKQLTXHVEDVHG RQZKHWKHUWKHLQSXWVWRHDFKPHDVXUHPHQWDUHREVHUYDEOHRUXQREVHUYDEOH2EVHUYDEOHLQSXWVUHÀHFWPDUNHWGDWDREWDLQHG IURPLQGHSHQGHQWVRXUFHVZKLOHXQREVHUYDEOHLQSXWVUHÀHFWWKH*URXS¶VDVVXPSWLRQVDERXWFXUUHQWPDUNHWFRQGLWLRQV7KHIDLU YDOXHKLHUDUFK\DOVRUHTXLUHVDQHQWLW\WRPD[LPL]HWKHXVHRIREVHUYDEOHLQSXWVDQGPLQLPL]HWKHXVHRIXQREVHUYDEOHLQSXWV ZKHQPHDVXULQJIDLUYDOXH7KHSUHVFULEHGIDLUYDOXHKLHUDUFK\DQGUHODWHGYDOXDWLRQPHWKRGRORJLHVDUHDVIROORZV

/HYHO4XRWHGLQSXWVWKDWUHÀHFWTXRWHGSULFHV XQDGMXVWHG IRULGHQWLFDODVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWV

/HYHO9DOXDWLRQVGHULYHGIURPYDOXDWLRQWHFKQLTXHVLQZKLFKRQHRUPRUHVLJQL¿FDQWLQSXWVDUHXQREVHUYDEOHLQSXWVZKLFK DUHVXSSRUWHGE\OLWWOHRUQRPDUNHWDFWLYLW\

,QDFFRUGDQFHZLWK,QG$6DVVHWVDQGOLDELOLWLHVDUHWREHPHDVXUHGEDVHGRQWKHIROORZLQJYDOXDWLRQWHFKQLTXHV

D 0DUNHWDSSURDFK±3ULFHVDQGRWKHUUHOHYDQWLQIRUPDWLRQJHQHUDWHGE\PDUNHWWUDQVDFWLRQVLQYROYLQJLGHQWLFDORUFRPSDUDEOH DVVHWVRUOLDELOLWLHV

b) Income approach – Converting the future amounts based on market expectations to its present value using the discounting PHWKRG

F &RVWDSSURDFK±5HSODFHPHQWFRVWPHWKRG

J Revenue recognition

&RQWUDFWVLQYROYLQJSURYLVLRQRIVHUYLFHVDQGPDWHULDO

5HYHQXHLVUHFRJQL]HGZKHQRUDVFRQWURORIDSURPLVHGVHUYLFHRUJRRGWUDQVIHUVWRDFXVWRPHULQDQDPRXQWWKDWUHÀHFWVWKH FRQVLGHUDWLRQWRZKLFKWKH*URXSH[SHFWVWREHHQWLWOHGLQH[FKDQJHIRUWUDQVIHUULQJWKRVHSURGXFWVRUVHUYLFHV7RUHFRJQL]H UHYHQXHVWKHIROORZLQJ¿YHVWHSDSSURDFKLVDSSOLHG LGHQWLI\WKHFRQWUDFWZLWKDFXVWRPHU LGHQWLI\WKHSHUIRUPDQFH REOLJDWLRQVLQWKHFRQWUDFW GHWHUPLQHWKHWUDQVDFWLRQSULFH DOORFDWHWKHWUDQVDFWLRQSULFHWRWKHSHUIRUPDQFHREOLJDWLRQV LQWKHFRQWUDFWDQG UHFRJQL]HUHYHQXHVZKHQDSHUIRUPDQFHREOLJDWLRQLVVDWLV¿HG$FRQWUDFWLVDFFRXQWHGZKHQLWLVOHJDOO\ HQIRUFHDEOH WKURXJK H[HFXWRU\ FRQWUDFWV DSSURYDO DQG FRPPLWPHQW IURP DOO SDUWLHV WKH ULJKWV RI WKH SDUWLHV DUH LGHQWL¿HG SD\PHQWWHUPVDUHGH¿QHGWKHFRQWUDFWKDVFRPPHUFLDOVXEVWDQFHDQGFROOHFWDELOLW\RIFRQVLGHUDWLRQLVSUREDEOH

7LPHDQGPDWHULDO9ROXPHEDVHG7UDQVDFWLRQEDVHGFRQWUDFWV

)L[HG3ULFHFRQWUDFWV

5HYHQXH UHODWHGWR¿[HGSULFHFRQWUDFWVZKHUHSHUIRUPDQFHREOLJDWLRQV DQGFRQWURODUHVDWLV¿HGRYHUDSHULRGRIWLPHOLNH technology integration, complex network building contracts, ERP implementations and Application development are recognized EDVHGRQSURJUHVVWRZDUGVFRPSOHWLRQRIWKHSHUIRUPDQFHREOLJDWLRQXVLQJDFRVWWRFRVWPHDVXUHRISURJUHVV LHSHUFHQWDJH RIFRPSOHWLRQ 32& PHWKRGRIDFFRXQWLQJ 5HYHQXHLVUHFRJQL]HGEDVHGRQWKHFRVWVLQFXUUHGWRGDWHDVDSHUFHQWDJHRIWKH WRWDOHVWLPDWHGFRVWVWRIXO¿OOWKHFRQWUDFW$Q\UHYLVLRQLQFRVWWRFRPSOHWHZRXOGUHVXOWLQLQFUHDVHRUGHFUHDVHLQUHYHQXHDQG VXFKFKDQJHVDUHUHFRUGHGLQWKHSHULRGLQZKLFKWKH\DUHLGHQWL¿HG3URYLVLRQVIRUHVWLPDWHGORVVHVLIDQ\RQFRQWUDFWVLQ SURJUHVVDUHUHFRUGHGLQWKHSHULRGLQZKLFKVXFKORVVHVEHFRPHSUREDEOHEDVHGRQWKHFXUUHQWFRQWUDFWHVWLPDWHV&RQWUDFW losses are determined to be the amount by which the estimated incremental cost to complete exceeds the estimated future UHYHQXHVWKDWZLOOEHJHQHUDWHGE\WKHFRQWUDFWDQGDUHLQFOXGHGLQFRVWRIUHYHQXHVDQGUHFRUGHGLQRWKHUDFFUXHGOLDELOLWLHV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

,QDUUDQJHPHQWVLQYROYLQJVKDULQJRIFXVWRPHUUHYHQXHVUHYHQXHLVUHFRJQL]HGZKHQWKHULJKWWRUHFHLYHLVHVWDEOLVKHG

3URSULHWDU\6RIWZDUH3URGXFWV

Revenue from distinct proprietary perpetual license software is recognized at a point in time at the inception of the arrangement ZKHQFRQWUROWUDQVIHUVWRWKHFOLHQW5HYHQXHIURPSURSULHWDU\WHUPOLFHQVHVRIWZDUHLVUHFRJQL]HGDWDSRLQWLQWLPHIRUWKH FRPPLWWHGWHUPRIWKHFRQWUDFW5HYHQXHIURPVXSSRUWDQGVXEVFULSWLRQ 6 6 LVUHFRJQL]HGRYHUWKHFRQWUDFWWHUPRQDVWUDLJKW OLQHEDVLVDVWKHFRPSDQ\LVSURYLGLQJDVHUYLFHRIVWDQGLQJUHDG\WRSURYLGHVXSSRUWZKHQDQGLIQHHGHGDQGLVSURYLGLQJ XQVSHFL¿HG VRIWZDUH XSJUDGHV RQ D ZKHQDQGLI DYDLODEOH EDVLV RYHU WKH FRQWUDFW WHUP ,Q FDVH VRIWZDUH DUH EXQGOHG ZLWK one year of support and subscription either for perpetual or term based license, such support and subscription contracts are generally priced as a percentage of the net fees paid by the customer to purchase the license and are generally recognized as UHYHQXHVUDWDEO\RYHUWKHFRQWUDFWXDOSHULRGWKDWWKHVXSSRUWVHUYLFHVDUHSURYLGHG

0XOWLSOHSHUIRUPDQFHREOLJDWLRQ

:KHQ D VDOHV DUUDQJHPHQW FRQWDLQV PXOWLSOH SHUIRUPDQFH VXFK DV VHUYLFHV KDUGZDUH DQG /LFHQVHG ,3V VRIWZDUH RU FRPELQDWLRQVRIHDFKRIWKHPUHYHQXHIRUHDFKHOHPHQWLVEDVHGRQD¿YHVWHSDSSURDFKDVGH¿QHGDERYH7RWKHH[WHQWD FRQWUDFWLQFOXGHVPXOWLSOHSURPLVHGGHOLYHUDEOHVMXGJPHQWLVDSSOLHGWRGHWHUPLQHZKHWKHUSURPLVHGGHOLYHUDEOHVDUHFDSDEOHRI EHLQJGLVWLQFWDQGDUHGLVWLQFWLQWKHFRQWH[WRIWKHFRQWUDFW,IWKHVHFULWHULDDUHQRWPHWWKHSURPLVHGGHOLYHUDEOHVDUHDFFRXQWHG IRUDVDFRPELQHGSHUIRUPDQFHREOLJDWLRQ)RUDUUDQJHPHQWVZLWKPXOWLSOHGLVWLQFWSHUIRUPDQFHREOLJDWLRQVRUVHULHVRIGLVWLQFW performance obligations, consideration is allocated among the performance obligations based on their relative standalone selling SULFH6WDQGDORQHVHOOLQJSULFHLVWKHSULFHDWZKLFKJURXSZRXOGVHOODSURPLVHGJRRGRUVHUYLFHVHSDUDWHO\WRWKHFXVWRPHU :KHQQRWGLUHFWO\REVHUYDEOHZHHVWLPDWHVWDQGDORQHVHOOLQJSULFHE\XVLQJWKHH[SHFWHGFRVWSOXVDPDUJLQDSSURDFK:H establish a standalone selling price range for our deliverables, which is reassessed on a periodic basis or when facts and FLUFXPVWDQFHVFKDQJH,IWKHDUUDQJHPHQWFRQWDLQVREOLJDWLRQVUHODWHGWR/LFHQVHRI,QWHOOHFWXDOSURSHUW\ 6RIWZDUH RU/HDVH deliverable, the arrangement consideration allocated to the Software deliverables, lease deliverable as a group is then allocated WRHDFKVRIWZDUHREOLJDWLRQDQGOHDVHGHOLYHUDEOH

,QLQVWDQFHVZKHQUHYHQXHLVGHULYHGIURPVDOHVRIWKLUGSDUW\YHQGRUVHUYLFHVPDWHULDORUOLFHQVHVUHYHQXHLVUHFRUGHGRQD JURVVEDVLVZKHQWKH*URXSLVDSULQFLSDOWRWKHWUDQVDFWLRQDQGQHWRIFRVWVZKHQWKH*URXSLVDFWLQJDVDQDJHQWEHWZHHQWKH FXVWRPHUDQGWKHYHQGRU6HYHUDOIDFWRUVDUHFRQVLGHUHGWRGHWHUPLQHZKHWKHUWKH*URXSLVDSULQFLSDORUDQDJHQWPRVWQRWDEO\ being group control the goods or service before it is transferred to customer, latitude in deciding the price being charged to FXVWRPHU5HYHQXHLVUHFRJQL]HGQHWRIGLVFRXQWVDQGDOORZDQFHVYDOXHDGGHGDQGVHUYLFHWD[HVDQGLQFOXGHVUHLPEXUVHPHQW RIRXWRISRFNHWH[SHQVHVZLWKWKHFRUUHVSRQGLQJRXWRISRFNHWH[SHQVHVLQFOXGHGLQFRVWRIUHYHQXHV

5HYHQXHUHFRJQL]HGEXWQRWELOOHGWRFXVWRPHUVLVFODVVL¿HGHLWKHUDVFRQWUDFWDVVHWVRUXQELOOHGUHFHLYDEOHLQFRQVROLGDWHG EDODQFH VKHHW &RQWUDFW DVVHWV SULPDULO\ UHODWH WR XQELOOHG DPRXQWV RQ WKRVH FRQWUDFWV XWLOL]LQJ WKH FRVW WR FRVW PHWKRG RI UHYHQXH UHFRJQLWLRQ DQG ULJKW WR FRQVLGHUDWLRQ LV QRW XQFRQGLWLRQDO 8QELOOHG UHFHLYDEOHV UHSUHVHQW FRQWUDFWV ZKHUH ULJKW WR FRQVLGHUDWLRQLVXQFRQGLWLRQDO LHRQO\WKHSDVVDJHRIWLPHLVUHTXLUHGEHIRUHWKHSD\PHQWLVGXH

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

5HYHQXHIURPVDOHVW\SHOHDVHVLVUHFRJQL]HGZKHQULVNRIORVVKDVEHHQWUDQVIHUUHGWRWKHFOLHQWDQGWKHUHDUHQRXQIXO¿OOHG REOLJDWLRQVWKDWDIIHFWWKH¿QDODFFHSWDQFHRIWKHDUUDQJHPHQWE\WKHFOLHQW

,QWHUHVWDWWULEXWDEOHWRVDOHVW\SHOHDVHVDQGGLUHFW¿QDQFLQJOHDVHVLQFOXGHGWKHUHLQLVUHFRJQL]HGRQDQDFFUXDOEDVLVXVLQJWKH HIIHFWLYHLQWHUHVWPHWKRGDQGLVUHFRJQL]HGDVRWKHULQFRPH

,QWHUHVWLQFRPH

,QWHUHVWLQFRPHIRUDOO¿QDQFLDOLQVWUXPHQWVPHDVXUHGDWDPRUWL]HGFRVWLVUHFRUGHGXVLQJWKHHIIHFWLYHLQWHUHVWUDWH (,5 (,5LV WKHUDWHWKDWH[DFWO\GLVFRXQWVWKHHVWLPDWHGIXWXUHFDVKSD\PHQWVRUUHFHLSWVRYHUWKHH[SHFWHGOLIHRIWKH¿QDQFLDOLQVWUXPHQW RUDVKRUWHUSHULRGZKHUHDSSURSULDWHWRWKHJURVVFDUU\LQJDPRXQWRIWKH¿QDQFLDODVVHWRUWRWKHDPRUWL]HGFRVWRID¿QDQFLDO OLDELOLW\:KHQFDOFXODWLQJWKH(,5WKH*URXSHVWLPDWHVWKHH[SHFWHGFDVKÀRZVE\FRQVLGHULQJDOOWKHFRQWUDFWXDOWHUPVRI WKH¿QDQFLDOLQVWUXPHQWEXWGRHVQRWFRQVLGHUWKHH[SHFWHGFUHGLWORVVHV,QWHUHVWLQFRPHLVLQFOXGHGLQRWKHULQFRPHLQWKH VWDWHPHQWRISUR¿WDQGORVV

K Income taxes

,QFRPHWD[H[SHQVHFRPSULVHVFXUUHQWDQGGHIHUUHGLQFRPHWD[

,QFRPHWD[H[SHQVHLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVH[FHSWWRWKHH[WHQWWKDWLWUHODWHVWRLWHPVUHFRJQL]HG GLUHFWO\LQHTXLW\LQZKLFKFDVHLWLVUHFRJQL]HGLQHTXLW\&XUUHQWLQFRPHWD[IRUFXUUHQWDQGSULRUSHULRGVLVUHFRJQL]HGDWWKH amount expected to be paid to or recovered from the tax authorities, using the tax rates and tax laws that have been enacted RUVXEVWDQWLYHO\HQDFWHGE\WKHEDODQFHVKHHWGDWH3URYLVLRQIRULQFRPHWD[LQFOXGHVWKHLPSDFWRISURYLVLRQVHVWDEOLVKHGIRU XQFHUWDLQLQFRPHWD[SRVLWLRQV

The effect of changes in tax rates on deferred income tax assets and liabilities is recognized as income or expense in the year WKDWLQFOXGHVWKHHQDFWPHQWRUWKHVXEVWDQWLYHHQDFWPHQWGDWH$GHIHUUHGLQFRPHWD[DVVHWLVUHFRJQL]HGWRWKHH[WHQWWKDWLW LVSUREDEOHWKDWIXWXUHWD[DEOHSUR¿WZLOOEHDYDLODEOHDJDLQVWZKLFKWKHGHGXFWLEOHWHPSRUDU\GLIIHUHQFHVDQGWD[ORVVHVFDQEH XWLOL]HG'HIHUUHGLQFRPHWD[HVDUHQRWSURYLGHGRQWKHXQGLVWULEXWHGHDUQLQJVRIVXEVLGLDULHVDQGEUDQFKHVZKHUHLWLVH[SHFWHG WKDWWKHHDUQLQJVRIWKHVXEVLGLDU\RUEUDQFKZLOOQRWEHGLVWULEXWHGLQWKHIRUHVHHDEOHIXWXUH

,Q VRPH WD[ MXULVGLFWLRQV WD[ GHGXFWLRQV RQ VKDUH EDVHG SD\PHQWV WR HPSOR\HHV DUH GLIIHUHQW IURP WKH UHODWHG FXPXODWLYH UHPXQHUDWLRQH[SHQVHV,IWKHDPRXQWRIWKHWD[GHGXFWLRQ RUHVWLPDWHGIXWXUHWD[GHGXFWLRQ H[FHHGVWKHDPRXQWRIWKHUHODWHG FXPXODWLYHUHPXQHUDWLRQH[SHQVHWKHH[FHVVRIWKHDVVRFLDWHGWD[LVUHFRJQL]HGGLUHFWO\LQUHWDLQHGHDUQLQJV

L Property, plant and equipment

3URSHUW\SODQWDQGHTXLSPHQWDUHVWDWHGDWFRVWOHVVDFFXPXODWHGGHSUHFLDWLRQDQGLPSDLUPHQWORVVHVLIDQ\&RVWFRPSULVHV WKHSXUFKDVHSULFHDQGGLUHFWO\DWWULEXWDEOHFRVWRIEULQJLQJWKHDVVHWWRLWVZRUNLQJFRQGLWLRQIRULWVLQWHQGHGXVH$Q\WUDGH GLVFRXQWVDQGUHEDWHVDUHGHGXFWHGLQDUULYLQJDWWKHSXUFKDVHSULFH7KH*URXSLGHQWL¿HVDQGGHWHUPLQHVVHSDUDWHXVHIXOOLYHV IRUHDFKPDMRUFRPSRQHQWRIWKHSURSHUW\SODQWDQGHTXLSPHQWLIWKH\KDYHDXVHIXOOLIHWKDWLVPDWHULDOO\GLIIHUHQWIURPWKDWRI WKHDVVHWDVDZKROH

([SHQVHVRQH[LVWLQJSURSHUW\SODQWDQGHTXLSPHQWLQFOXGLQJGD\WRGD\UHSDLUVPDLQWHQDQFHH[SHQGLWXUHDQGFRVWRIUHSODFLQJ SDUWVDUHFKDUJHGWRWKHVWDWHPHQWRISUR¿WDQGORVVIRUWKH\HDUGXULQJZKLFKVXFKH[SHQVHVDUHLQFXUUHG

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

3URSHUW\SODQWDQGHTXLSPHQWXQGHUFRQVWUXFWLRQDQGFRVWRIDVVHWVQRWUHDG\IRUXVHDWWKH\HDUHQGDUHGLVFORVHGDVFDSLWDO ZRUNLQSURJUHVV

'HSUHFLDWLRQ RQ SURSHUW\SODQW DQG HTXLSPHQW LV SURYLGHG RQ WKH VWUDLJKWOLQH PHWKRG RYHU WKHLU HVWLPDWHG XVHIXO OLYHV DV GHWHUPLQHGE\WKHPDQDJHPHQW'HSUHFLDWLRQLVFKDUJHGRQDSURUDWDEDVLVIRUDVVHWVSXUFKDVHGVROGGXULQJWKH\HDU

7KHPDQDJHPHQW¶VHVWLPDWHVRIWKHXVHIXOOLYHVRIYDULRXVDVVHWVIRUFRPSXWLQJGHSUHFLDWLRQDUHDVIROORZV $VVHWGHVFULSWLRQ $VVHWOLIH LQ\HDUV %XLOGLQJV 3ODQWDQGHTXLSPHQW LQFOXGLQJDLUFRQGLWLRQHUVHOHFWULFDOLQVWDOODWLRQV 2I¿FHHTXLSPHQW 5 RURYHUWKHSHULRGRI &RPSXWHUVDQGQHWZRUNLQJHTXLSPHQW lease, whichever is lower )XUQLWXUHDQG¿[WXUHV 7 9HKLFOHV 5 The useful lives as given above best represent the period over which the management expects to use these assets, based on WHFKQLFDODVVHVVPHQW7KHHVWLPDWHGXVHIXOOLYHVIRUWKHVHDVVHWVDUHWKHUHIRUHGLIIHUHQWIURPWKHXVHIXOOLYHVSUHVFULEHGXQGHU 3DUW&RI6FKHGXOH,,RIWKH&RPSDQLHV$FW

7KHUHVLGXDOYDOXHVXVHIXOOLYHVDQGPHWKRGVRIGHSUHFLDWLRQRISURSHUW\SODQWDQGHTXLSPHQWDUHUHYLHZHGDWHDFK¿QDQFLDO \HDUHQGDQGDGMXVWHGSURVSHFWLYHO\LIDSSURSULDWH

M Intangible assets

Intangible assets are amortized over the useful life and assessed for impairment whenever there is an indication that the LQWDQJLEOHDVVHWPD\EHLPSDLUHG7KHDPRUWL]DWLRQSHULRGDQGWKHDPRUWL]DWLRQPHWKRGIRUDQLQWDQJLEOHDVVHWZLWKD¿QLWH XVHIXOOLIHDUHUHYLHZHGDWOHDVWDWWKHHQGRIHDFKUHSRUWLQJ\HDU&KDQJHVLQWKHH[SHFWHGXVHIXOOLIHRUWKHH[SHFWHGSDWWHUQRI FRQVXPSWLRQRIIXWXUHHFRQRPLFEHQH¿WVHPERGLHGLQWKHDVVHWDUHFRQVLGHUHGWRPRGLI\WKHDPRUWL]DWLRQSHULRGRUPHWKRGDV DSSURSULDWHDQGDUHWUHDWHGDVFKDQJHVLQDFFRXQWLQJHVWLPDWHV7KHDPRUWL]DWLRQH[SHQVHRQLQWDQJLEOHDVVHWVZLWK¿QLWHOLYHV LVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

*DLQVRUORVVHVDULVLQJIURPGHUHFRJQLWLRQRIDQLQWDQJLEOHDVVHWDUHPHDVXUHGDVWKHGLIIHUHQFHEHWZHHQWKHQHWGLVSRVDO SURFHHGV DQG WKH FDUU\LQJ DPRXQW RI WKH DVVHW DQG DUH UHFRJQL]HG LQ WKH VWDWHPHQW RI SUR¿W DQG ORVV ZKHQ WKH DVVHW LV GHUHFRJQL]HG

$VVHWGHVFULSWLRQ $VVHWOLIH LQ\HDUV Software Licensed IPRs WR Customer relationships WR Customer contracts WR Technology WR ,QWHOOHFWXDOSURSHUW\ULJKWVLQFOXGLQJ%UDQG WR 1RQFRPSHWHDJUHHPHQWV WR

N Research and development costs

5HVHDUFKFRVWVDUHH[SHQVHGDVLQFXUUHG'HYHORSPHQWH[SHQGLWXUHRQDQLQGLYLGXDOSURMHFWLVUHFRJQL]HGDVDQLQWDQJLEOH DVVHWZKHQWKH*URXSFDQGHPRQVWUDWH

7KHWHFKQLFDOIHDVLELOLW\RIFRPSOHWLQJWKHLQWDQJLEOHDVVHWVRWKDWLWZLOOEHDYDLODEOHIRUXVHRUVDOH ,WVLQWHQWLRQWRFRPSOHWHDQGLWVDELOLW\DQGLQWHQWLRQWRXVHRUVHOOWKHDVVHW +RZWKHDVVHWZLOOJHQHUDWHIXWXUHHFRQRPLFEHQH¿WV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHDYDLODELOLW\RIUHVRXUFHVWRFRPSOHWHWKHDVVHW 7KHDELOLW\WRPHDVXUHUHOLDEO\WKHH[SHQGLWXUHGXULQJGHYHORSPHQW

6XEVHTXHQWO\IROORZLQJLQLWLDOUHFRJQLWLRQRIWKHGHYHORSPHQWH[SHQGLWXUHDVDQDVVHWWKHFRVWPRGHOLVDSSOLHGUHTXLULQJWKHDVVHW WREHFDUULHGDWFRVWOHVVDQ\DFFXPXODWHGDPRUWL]DWLRQDQGDFFXPXODWHGLPSDLUPHQWORVVHV$PRUWL]DWLRQRIWKHDVVHWEHJLQVZKHQ GHYHORSPHQWLVFRPSOHWHDQGWKHDVVHWLVDYDLODEOHIRUXVH,WLVDPRUWL]HGRYHUWKHSHULRGRIH[SHFWHGIXWXUHEHQH¿W$PRUWL]DWLRQ H[SHQVHLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV'XULQJWKHSHULRGRIGHYHORSPHQWWKHDVVHWLVWHVWHGIRULPSDLUPHQWDQQXDOO\

O Borrowing costs

%RUURZLQJFRVWVFRQVLVWRILQWHUHVWDQGRWKHUFRVWVWKDWDQHQWLW\LQFXUVLQFRQQHFWLRQZLWKWKHERUURZLQJRIIXQGV%RUURZLQJ FRVWVDOVRLQFOXGHVH[FKDQJHGLIIHUHQFHVWRWKHH[WHQWUHJDUGHGDVDQDGMXVWPHQWWRWKHERUURZLQJFRVWV

P Leases

$OHDVHLVDFRQWUDFWWKDWFRQWDLQVULJKWWRFRQWUROWKHXVHRIDQLGHQWL¿HGDVVHWIRUDSHULRGRIWLPHLQH[FKDQJHIRUFRQVLGHUDWLRQ

*URXSDVDOHVVHH

*URXS LV OHVVHH LQ FDVH RI OHDVHKROG ODQG RI¿FH VSDFH DFFRPPRGDWLRQ IRU LWV HPSOR\HHV ,7 HTXLSPHQW 7KHVH OHDVHV are evaluated to determine whether it contains lease based on principles for the recognition, measurement, presentation and GLVFORVXUHRIOHDVHVIRUERWKOHVVHHVDQGOHVVRUVDVGH¿QHGLQ,QG$6

(IIHFWLYH$SULODOOOHDVHVZLWKDWHUPRIPRUHWKDQPRQWKVDUHUHFRJQL]HGDVULJKWRIXVHDVVHWVDORQJZLWKDVVRFLDWHG OHDVHOLDELOLWLHVLQWKHFRQVROLGDWHGEDODQFHVKHHW

5LJKWRIXVHDVVHWUHSUHVHQWVWKH*URXS¶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

The lease liability is measured at the lease commencement date and determined using the present value of the minimum OHDVHSD\PHQWVQRW\HWSDLGDQGWKH*URXS¶VLQFUHPHQWDOERUURZLQJUDWHZKLFKDSSUR[LPDWHVWKHUDWHDWZKLFKWKH*URXS ZRXOGERUURZLQWKHFRXQWU\ZKHUHWKHOHDVHZDVH[HFXWHG7KH*URXSKDVXVHGDVLQJOHGLVFRXQWUDWHIRUDSRUWIROLRRIOHDVHV ZLWKUHDVRQDEO\VLPLODUFKDUDFWHULVWLFV7KHOHDVHSD\PHQWFRPSULVHV¿[HGSD\PHQWOHVVDQ\OHDVHLQFHQWLYHVYDULDEOHOHDVH SD\PHQWWKDWGHSHQGVRQDQLQGH[RUDUDWHH[HUFLVHSULFHRIDSXUFKDVHRSWLRQLIWKH*URXSLVUHDVRQDEO\FHUWDLQWRH[HUFLVH WKH RSWLRQ DQG SD\PHQW RI SHQDOWLHV IRU WHUPLQDWLQJ WKH OHDVH LI WKH OHDVH WHUP UHÀHFWV WKH JURXS H[HUFLVLQJ DQ RSWLRQ WR WHUPLQDWHWKHOHDVH/HDVHOLDELOLW\LVVXEVHTXHQWO\PHDVXUHGE\LQFUHDVHWKHFDUU\LQJDPRXQWWRUHÀHFWLQWHUHVWRQWKHOHDVH OLDELOLW\UHGXFLQJWKHFDUU\LQJDPRXQWWRUHÀHFWWKHOHDVHSD\PHQWPDGHDQGUHPHDVXULQJWKHFDUU\LQJDPRXQWWRUHÀHFWDQ\ UHDVVHVVPHQWRUPRGL¿FDWLRQLIDQ\

7KH*URXSKDVHOHFWHGWRQRWUHFRJQL]H OHDVHVZLWKDOHDVHWHUPRIPRQWKVRUOHVVLQWKHFRQVROLGDWHG EDODQFH VKHHW LQFOXGLQJWKRVHDFTXLUHGLQDEXVLQHVVFRPELQDWLRQDQGOHDVHFRVWVIRUWKRVHVKRUWWHUPOHDVHVDUHUHFRJQL]HGRQDVWUDLJKWOLQH EDVLVRYHUWKHOHDVHWHUPLQWKHFRQVROLGDWHGVWDWHPHQWRISUR¿WDQGORVV)RUDOODVVHWFODVVHVWKH*URXSKDVHOHFWHGWKHOHVVHH SUDFWLFDOH[SHGLHQWWRFRPELQHOHDVHDQGQRQOHDVHFRPSRQHQWVDQGDFFRXQWIRUWKHFRPELQHGXQLWDVDVLQJOHOHDVHFRPSRQHQW LQFDVHWKHUHLVQRVHSDUDWHSD\PHQWGH¿QHGXQGHUWKHFRQWUDFW

*URXSDVDOHVVRU

/HDVHVLQZKLFKWKH*URXSGRHVQRWWUDQVIHUVXEVWDQWLDOO\DOOWKHULVNVDQGEHQH¿WVRIRZQHUVKLSRIWKHDVVHWDUHFODVVL¿HGDV RSHUDWLQJOHDVHV,QLWLDOGLUHFWFRVWVLQFXUUHGLQQHJRWLDWLQJDQRSHUDWLQJOHDVHDUHDGGHGWRWKHFDUU\LQJDPRXQWRIWKHOHDVHG DVVHWDQGUHFRJQL]HGRYHUWKHOHDVHWHUPRQWKHVDPHEDVLVDVUHQWDOLQFRPH&RQWLQJHQWUHQWVDUHUHFRJQL]HGDVUHYHQXHLQ WKH\HDULQZKLFKWKH\DUHHDUQHGRUFRQWLQJHQF\LVUHVROYHG

/HDVHVLQZKLFKWKH*URXSWUDQVIHUVVXEVWDQWLDOO\DOOWKHULVNDQGEHQH¿WVRIRZQHUVKLSRIWKHDVVHWDUHFODVVL¿HGDV¿QDQFH OHDVHV$VVHWVJLYHQXQGHU¿QDQFHOHDVHDUHUHFRJQL]HGDVDUHFHLYDEOHDWDQDPRXQWHTXDOWRWKHSUHVHQWYDOXHRIOHDVH UHFHLYDEOH$IWHULQLWLDOUHFRJQLWLRQWKH*URXSDSSRUWLRQVOHDVHUHQWDOVEHWZHHQWKHSULQFLSDOUHSD\PHQWDQGLQWHUHVWLQFRPHVR DVWRDFKLHYHDFRQVWDQWSHULRGLFUDWHRIUHWXUQRQWKHQHWLQYHVWPHQWRXWVWDQGLQJLQUHVSHFWRIWKH¿QDQFHOHDVHV7KHLQWHUHVW LQFRPHLVUHFRJQL]HGLQWKHFRQVROLGDWHGVWDWHPHQWRISUR¿WDQGORVV,QLWLDOGLUHFWFRVWVVXFKDVOHJDOFRVWEURNHUDJHFRVWHWF DUHUHFRJQL]HGLPPHGLDWHO\LQWKHVWDWHPHQWRISUR¿WDQGORVV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

:KHQDUUDQJHPHQWVLQFOXGHPXOWLSOHSHUIRUPDQFHREOLJDWLRQVWKH*URXSDOORFDWHVWKHFRQVLGHUDWLRQLQWKHFRQWUDFWEHWZHHQWKH OHDVHFRPSRQHQWVDQGWKHQRQOHDVHFRPSRQHQWVRQDUHODWLYHVWDQGDORQHVHOOLQJSULFHEDVLV

7UDQVLWLRQWR,QG$6

7KH*URXSKDVDGRSWHG,QG$6HIIHFWLYH$SULOXVLQJWKHPRGL¿HGUHWURVSHFWLYHDSSURDFKZKLFKLQYROYHVUHFRJQL]LQJ QHZULJKWRIXVHDVVHWVDQGOHDVHOLDELOLWLHVRQLWVFRQVROLGDWHGEDODQFHVKHHW&RPSDUDWLYHLQIRUPDWLRQKDVQRWEHHQDGMXVWHG DQGFRQWLQXHVWREHUHSRUWHGXQGHU,QG$6$VDUHVXOWRIWKH*URXS¶VDGRSWLRQRIWKLVQHZVWDQGDUGDOOOHDVHVDUHUHFRUGHG RQWKHFRQVROLGDWHGEDODQFHVKHHW7KH*URXSKDVDOVRHOHFWHGWKHSUDFWLFDOH[SHGLHQWVQRWWRUHDVVHVVSULRUFRQFOXVLRQV UHODWHGWRFRQWUDFWVFRQWDLQLQJOHDVHVOHDVHFODVVL¿FDWLRQDQGLQLWLDOGLUHFWFRVWV7KH*URXSKDVXVHGDVLQJOHGLVFRXQWUDWHWR DSRUWIROLRRIOHDVHVZLWKUHDVRQDEO\VLPLODUFKDUDFWHULVWLFV7KH*URXSKDVHOHFWHGWKHOHVVHHSUDFWLFDOH[SHGLHQWWRFRPELQH OHDVHDQGQRQOHDVHFRPSRQHQWVDQGDFFRXQWIRUWKHFRPELQHGXQLWDVDVLQJOHOHDVHFRPSRQHQWLQFDVHWKHUHLVQRVHSDUDWH SD\PHQWGH¿QHGXQGHUWKHFRQWUDFWDQGWRXVHWKHUHFRJQLWLRQH[HPSWLRQIRUOHDVHFRQWUDFWVWKDWDWWKHFRPPHQFHPHQWGDWH KDYHDOHDVHWHUPRIPRQWKVRUOHVVDQGGRQRWFRQWDLQDSXUFKDVHRSWLRQ ³VKRUWWHUPOHDVHV´

,PSDFWRQFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV

$VDUHVXOWRIDGRSWLRQRI,QG$6WKH*URXSUHFRJQL]HGDGGLWLRQDOOHDVHOLDELOLWLHVRI൘FURUHVDQGULJKWVRIXVHDVVHWV of ൘FURUHVDVRQ$SULO

7KHZHLJKWHGDYHUDJHLQFUHPHQWDOERUURZLQJUDWHRIKDVEHHQDSSOLHGWROHDVHOLDELOLWLHVUHFRJQL]HGLQWKHEDODQFHVKHHW DWWKHGDWHRILQLWLDODSSOLFDWLRQLQUHVSHFWRIOHDVHVFODVVL¿HGDVRSHUDWLQJOHDVHVDVSHU,QG$6

7KH GLIIHUHQFH EHWZHHQ IXWXUH PLQLPXP OHDVH UHQWDO FRPPLWPHQWV DJDLQVW QRQFDQFHOODEOH RSHUDWLQJ OHDVHV UHSRUWHG DV DW 0DUFKDQGOHDVHOLDELOLW\UHFRJQL]HGDVDW$SULOLVSULPDULO\GXHWR

D LQFOXVLRQRISUHVHQWYDOXHRIIXWXUHPLQLPXPOHDVHUHQWDOFRPPLWPHQWVWRZDUGVRSHUDWLQJOHDVHVRI,7HTXLSPHQW E LQFOXVLRQRI¿QDQFHOHDVHREOLJDWLRQHDUOLHUVKRZQVHSDUDWHO\DQG F H[FOXVLRQRIVKRUWWHUPOHDVHFRPPLWPHQWVIRUZKLFKWKH*URXSKDVFKRVHQWRDSSO\WKHSUDFWLFDOH[SHGLHQWDVSHUWKHVWDQGDUG

7KHIROORZLQJWDEOHVXPPDUL]HWKHLPSDFWRIWKH*URXS¶VDGRSWLRQRI,QG$6RQLWVFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVDVRI $SULO

$VUHSRUWHG $GRSWLRQRI %DODQFHDVRI 0DUFK ,QG$6 $SULO 3UHSDLGH[SHQVHV LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ QRWH 3UHSDLGUHQWDOVIRUOHDVHKROGODQG LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ QRWH 3URSHUW\SODQWDQGHTXLSPHQW±&RPSXWHUDQGQHWZRUNLQJHTXLSPHQWOHDVHG QRWH %RUURZLQJ)LQDQFHOHDVHREOLJDWLRQ LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ QRWH 2WKHU¿QDQFLDOOLDELOLWLHV FXUUHQW OLDELOLWLHVIRUH[SHQVHV QRWH 5LJKWRIXVHDVVHWV /HDVHOLDELOLW\ LQFOXGLQJFXUUHQWDQGQRQFXUUHQWSRUWLRQ

Notes: ,QFOXGHVSUHSDLGUHQWDPRXQWLQJWR൘FURUHVDQGSUHSDLGDPRXQWRIVHFXULW\GHSRVLWDPRXQWLQJWR൘FURUHVUHFODVVL¿HG WRULJKWRIXVHDVVHWV 3UHSDLGUHQWDOIRUOHDVHKROGODQGDPRXQWLQJWR൘FURUHVZKLFKKDVEHHQUHFODVVL¿HGWRULJKWRIXVHDVVHWV )LQDQFHOHDVHGDVVHWVDVSHU,QG$6DPRXQWLQJWR൘FURUHVKDVEHHQUHFODVVL¿HGWRULJKWRIXVHDVVHWV )LQDQFHOHDVHREOLJDWLRQVDVSHU,QG$6DPRXQWLQJWR൘FURUHVKDYHEHHQUHFODVVL¿HGWROHDVHOLDELOLW\ ,QFOXGHVOHDVHHTXDOL]DWLRQUHVHUYHRI൘FURUHVDGMXVWHGZLWKULJKWRIXVHDVVHWV

Q Inventories

&RVWRIVWRFNLQWUDGHSURFXUHGIRUVSHFL¿FSURMHFWVLVDVVLJQHGE\LGHQWLI\LQJLQGLYLGXDOFRVWVRIHDFKLWHP&RVWRIVWRFNLQ WUDGHWKDWDUHLQWHUFKDQJHDEOHDQGQRWVSHFL¿FWRDQ\SURMHFWDQGFRVWRIVWRUHVDQGVSDUHSDUWVDUHGHWHUPLQHGXVLQJWKH ZHLJKWHGDYHUDJHFRVWIRUPXOD $QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

R ,PSDLUPHQWRIQRQ¿QDQFLDODVVHWV

*RRGZLOO

*RRGZLOOLVWHVWHGDQQXDOO\RQ0DUFKIRULPSDLUPHQWRUVRRQHUZKHQHYHUWKHUHLVDQLQGLFDWLRQWKDWJRRGZLOOPD\EHLPSDLUHG UHO\LQJRQDQXPEHURIIDFWRUVLQFOXGLQJRSHUDWLQJUHVXOWVEXVLQHVVSODQVDQGIXWXUHFDVKÀRZV)RUWKHSXUSRVHRILPSDLUPHQW WHVWLQJJRRGZLOODFTXLUHGLQDEXVLQHVVFRPELQDWLRQLVDOORFDWHGWRWKH*URXS¶VFDVKJHQHUDWLQJXQLWV &*8 H[SHFWHGWREHQH¿W IURPWKHV\QHUJLHVDULVLQJIURPWKHEXVLQHVVFRPELQDWLRQ$&*8LVWKHVPDOOHVWLGHQWL¿DEOHJURXSRIDVVHWVWKDWJHQHUDWHVFDVK LQÀRZVWKDWDUHODUJHO\LQGHSHQGHQWRIWKHFDVKLQÀRZVIURPRWKHUDVVHWVRUJURXSRIDVVHWV,PSDLUPHQWRFFXUVZKHQWKHFDUU\LQJ DPRXQWRID&*8LQFOXGLQJWKHJRRGZLOOH[FHHGVWKHHVWLPDWHGUHFRYHUDEOHDPRXQWRIWKH&*87KHUHFRYHUDEOHDPRXQWRID&*8 LVWKHKLJKHURILWVIDLUYDOXHOHVVFRVWWRVHOODQGLWVYDOXHLQXVH9DOXHLQXVHLVWKHSUHVHQWYDOXHRIIXWXUHFDVKÀRZVH[SHFWHGWR EHGHULYHGIURPWKH&*87RWDOLPSDLUPHQWORVVRID&*8LVDOORFDWHG¿UVWWRUHGXFHWKHFDUU\LQJDPRXQWRIJRRGZLOODOORFDWHGWRWKH &*8DQGWKHQWRWKHRWKHUDVVHWVRIWKH&*8SURUDWDRQWKHEDVLVRIWKHFDUU\LQJDPRXQWRIHDFKDVVHWLQWKH&*8

$QLPSDLUPHQWORVVRQJRRGZLOOUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVLVQRWUHYHUVHGLQWKHVXEVHTXHQWSHULRG

,QWDQJLEOHDVVHWVDQGSURSHUW\SODQWDQGHTXLSPHQW

S Provisions and contingent liabilities

$SURYLVLRQLVUHFRJQL]HGLIDVDUHVXOWRIDSDVWHYHQWWKH*URXSKDVDSUHVHQWOHJDORUFRQVWUXFWLYHREOLJDWLRQWKDWFDQEHHVWLPDWHG UHOLDEO\DQGLWLVSUREDEOHWKDWDQRXWÀRZRIUHVRXUFHVHPERG\LQJHFRQRPLFEHQH¿WVZLOOEHUHTXLUHGWRVHWWOHWKHREOLJDWLRQ,IWKH HIIHFWRIWKHWLPHYDOXHRIPRQH\LVPDWHULDOSURYLVLRQVDUHGHWHUPLQHGE\GLVFRXQWLQJWKHH[SHFWHGIXWXUHFDVKÀRZV

7KH *URXS XVHV VLJQL¿FDQW MXGJHPHQW WR GLVFORVH FRQWLQJHQW OLDELOLWLHV &RQWLQJHQW OLDELOLWLHV DUH GLVFORVHG ZKHQ WKHUH LV D SRVVLEOHREOLJDWLRQDULVLQJIURPSDVWHYHQWVWKHH[LVWHQFHRIZKLFKZLOOEHFRQ¿UPHGRQO\E\WKHRFFXUUHQFHRUQRQRFFXUUHQFH RIRQHRUPRUHXQFHUWDLQIXWXUHHYHQWVQRWZKROO\ZLWKLQWKHFRQWURORIWKH*URXSRUDSUHVHQWREOLJDWLRQWKDWDULVHVIURPSDVW HYHQWVZKHUHLWLVHLWKHUQRWSUREDEOHWKDWDQRXWÀRZRIUHVRXUFHVZLOOEHUHTXLUHGWRVHWWOHWKHREOLJDWLRQRUDUHOLDEOHHVWLPDWH RIWKHDPRXQWFDQQRWEHPDGH&RQWLQJHQWDVVHWVDUHQHLWKHUUHFRJQL]HGQRUGLVFORVHGLQWKH¿QDQFLDOVWDWHPHQWV

T 5HWLUHPHQWDQGRWKHUHPSOR\HHEHQH¿WV

L 3URYLGHQWIXQG(PSOR\HHVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHVLQ,QGLDUHFHLYHEHQH¿WVXQGHUWKHSURYLGHQWIXQGDGH¿QHG EHQH¿WSODQ7KHHPSOR\HHDQGHPSOR\HUHDFKPDNHPRQWKO\FRQWULEXWLRQVWRWKHSODQ$SRUWLRQRIWKHFRQWULEXWLRQLV PDGHWRWKHSURYLGHQWIXQGWUXVWPDQDJHGE\WKH*URXSRU*RYHUQPHQWDGPLQLVWHUHGSURYLGHQWIXQGZKLOHWKHEDODQFH FRQWULEXWLRQLVPDGHWRWKH*RYHUQPHQWDGPLQLVWHUHGSHQVLRQIXQG)RUWKHFRQWULEXWLRQPDGHE\WKH&RPSDQ\DQGLWV VXEVLGLDULHVLQ,QGLDWRWKHSURYLGHQWIXQGWUXVWPDQDJHGE\WKH*URXSWKH&RPSDQ\KDVDQREOLJDWLRQWRIXQGDQ\VKRUWIDOO RQWKH\LHOGRIWKH7UXVW¶VLQYHVWPHQWVRYHUWKHDGPLQLVWHUHGLQWHUHVWUDWHV7KHOLDELOLW\LVDFWXDULDOO\GHWHUPLQHG XVLQJWKH SURMHFWHGXQLWFUHGLWPHWKRG DWWKHHQGRIWKH\HDU7KHIXQGVFRQWULEXWHGWRWKH7UXVWDUHLQYHVWHGLQVSHFL¿FVHFXULWLHV DVPDQGDWHGE\ODZDQGJHQHUDOO\FRQVLVWRIIHGHUDODQGVWDWHJRYHUQPHQWERQGVGHEWLQVWUXPHQWVRIJRYHUQPHQWRZQHG FRUSRUDWLRQVDQGHTXLW\RWKHUHOLJLEOHPDUNHWVHFXULWLHV

LLL *UDWXLW\OLDELOLW\7KH&RPSDQ\DQGLWVVXEVLGLDULHVLQ,QGLDSURYLGHIRUJUDWXLW\DGH¿QHGEHQH¿WSODQ WKH³*UDWXLW\3ODQ´ FRYHULQJHOLJLEOHHPSOR\HHV7KH*UDWXLW\3ODQSURYLGHVDOXPSVXPSD\PHQWWRYHVWHGHPSOR\HHVDWUHWLUHPHQWGHDWK LQFDSDFLWDWLRQRUWHUPLQDWLRQRIHPSOR\PHQWRIDQDPRXQWEDVHGRQWKHUHVSHFWLYHHPSOR\HH¶VEDVHVDODU\DQGWKHWHQXUH RIHPSOR\PHQW VXEMHFWWRDPD[LPXPRI൘ODFVSHUHPSOR\HH 7KHOLDELOLW\LVDFWXDULDOO\GHWHUPLQHG XVLQJWKHSURMHFWHG XQLWFUHGLWPHWKRG DWWKHHQGRIHDFK\HDU$FWXDULDOJDLQVORVVHVDUHUHFRJQL]HGLPPHGLDWHO\LQWKHEDODQFHVKHHWZLWKD FRUUHVSRQGLQJGHELWRUFUHGLWWRUHWDLQHGHDUQLQJVWKURXJKRWKHUFRPSUHKHQVLYHLQFRPHLQWKH\HDULQZKLFKWKH\RFFXU

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

LY &RPSHQVDWHG DEVHQFHV7KH HPSOR\HHV RI WKH *URXS DUH HQWLWOHG WR FRPSHQVDWHG DEVHQFHV ZKLFK DUH ERWK DFFXPXODWLQJ DQGQRQDFFXPXODWLQJLQQDWXUH7KHHPSOR\HHVFDQFDUU\IRUZDUGXSWRWKHVSHFL¿HGSRUWLRQRIWKHXQXWLOL]HGDFFXPXODWHG FRPSHQVDWHGDEVHQFHVDQGXWLOL]HLWLQIXWXUHSHULRGVRUUHFHLYHFDVKDWUHWLUHPHQWRUWHUPLQDWLRQRIHPSOR\PHQW7KHH[SHFWHG FRVWRIDFFXPXODWLQJFRPSHQVDWHGDEVHQFHVLVGHWHUPLQHGE\DFWXDULDOYDOXDWLRQ XVLQJWKHSURMHFWHGXQLWFUHGLWPHWKRG EDVHG on the additional amount expected to be paid as a result of the unused entitlement that has accumulated at the balance sheet GDWH7KHH[SHQVHRQQRQDFFXPXODWLQJFRPSHQVDWHGDEVHQFHVLVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVLQWKH\HDULQ ZKLFKWKHDEVHQFHVRFFXU$FWXDULDOJDLQVORVVHVDUHLPPHGLDWHO\WDNHQWRWKHVWDWHPHQWRISUR¿WDQGORVVDQGDUHQRWGHIHUUHG

Y 6WDWH3ODQ7KHFRQWULEXWLRQWR6WDWH3ODQVLQ,QGLDDGH¿QHGFRQWULEXWLRQSODQQDPHO\(PSOR\HH6WDWH,QVXUDQFH)XQGLV FKDUJHGWRWKHVWDWHPHQWRISUR¿WDQGORVVDVDQGZKHQHPSOR\HHVUHQGHUUHODWHGVHUYLFHV

YL &RQWULEXWLRQV WR RWKHU IRUHLJQ GH¿QHG FRQWULEXWLRQ SODQV DUH UHFRJQL]HG DV H[SHQVH ZKHQ HPSOR\HHV KDYH UHQGHUHG VHUYLFHVHQWLWOLQJWKHPWRVXFKEHQH¿WV

U (TXLW\VHWWOHGVWRFNEDVHGFRPSHQVDWLRQ

6WRFNEDVHGFRPSHQVDWLRQUHSUHVHQWVWKHFRVWUHODWHGWRVWRFNEDVHGDZDUGVJUDQWHGWRHPSOR\HHV7KH&RPSDQ\PHDVXUHV VWRFNEDVHGFRPSHQVDWLRQFRVWDWJUDQWGDWHEDVHGRQWKHHVWLPDWHGIDLUYDOXHRIWKHDZDUGDQGUHFRJQL]HVWKHFRVW QHW RIHVWLPDWHGIRUIHLWXUHV RQDVWUDLJKWOLQHEDVLVRYHUWKHUHTXLVLWHVHUYLFHSHULRGIRUHDFKVHSDUDWHO\YHVWLQJSRUWLRQRIWKH DZDUGDVLIDZDUGZDVLQVXEVWDQFHPXOWLSOHDZDUGV7KH&RPSDQ\HVWLPDWHVWKHIDLUYDOXHRIVWRFNRSWLRQVXVLQJWKH%ODFN 6FKROHVYDOXDWLRQPRGHO7KHFRVWLVUHFRUGHGXQGHUWKHKHDGHPSOR\HHEHQH¿WH[SHQVHLQWKHVWDWHPHQWRISUR¿WDQGORVVZLWK FRUUHVSRQGLQJLQFUHDVHLQ³6KDUH%DVHG3D\PHQW5HVHUYH´

V )LQDQFLDO,QVWUXPHQWV

$¿QDQFLDOLQVWUXPHQWLVDFRQWUDFWWKDWJLYHVULVHWRD¿QDQFLDODVVHWRIRQHHQWLW\DQGD¿QDQFLDOOLDELOLW\RUHTXLW\LQVWUXPHQWRI DQRWKHUHQWLW\

L )LQDQFLDODVVHWV

Cash and cash equivalents &DVKDQGFDVKHTXLYDOHQWVLQWKHEDODQFHVKHHWFRPSULVHFDVKLQEDQNVDQGVKRUWWHUPGHSRVLWVDQGLQYHVWPHQWVZLWKDQ RULJLQDOPDWXULW\RIWKUHHPRQWKVRUOHVVZKLFKDUHVXEMHFWWRDQLQVLJQL¿FDQWULVNRIFKDQJHVLQYDOXH)RUWKHSXUSRVHVRI WKHFDVKÀRZVWDWHPHQWFDVKDQGFDVKHTXLYDOHQWVDUHFRQVLGHUHGQHWRIRXWVWDQGLQJEDQNRYHUGUDIWVWKDWDUHUHSD\DEOH RQGHPDQGDQGDUHFRQVLGHUHGSDUWRIWKH*URXS¶VFDVKPDQDJHPHQWV\VWHP,QWKHFRQVROLGDWHGEDODQFHVKHHWEDQN RYHUGUDIWVDUHSUHVHQWHGXQGHUERUURZLQJVZLWKLQFXUUHQWOLDELOLWLHV

Financial assets at amortized cost $¿QDQFLDODVVHWLVPHDVXUHGDWWKHDPRUWL]HGFRVWLIERWKWKHIROORZLQJFRQGLWLRQVDUHPHW

D 7KHDVVHWLVKHOGZLWKLQDEXVLQHVVPRGHOZKRVHREMHFWLYHLVWRKROGDVVHWVIRUFROOHFWLQJFRQWUDFWXDOFDVKÀRZVDQG E &RQWUDFWXDOWHUPVRIWKHDVVHWJLYHULVHRQVSHFL¿HGGDWHVWRFDVKÀRZVWKDWDUHVROHO\SD\PHQWVRISULQFLSDODQG LQWHUHVW 633, RQWKHSULQFLSDODPRXQWRXWVWDQGLQJ

$IWHULQLWLDOPHDVXUHPHQWVXFK¿QDQFLDODVVHWVDUHVXEVHTXHQWO\PHDVXUHGDWDPRUWL]HGFRVWXVLQJWKHHIIHFWLYHLQWHUHVW UDWH (,5 PHWKRG$PRUWL]HGFRVWLVFDOFXODWHGE\WDNLQJLQWRDFFRXQWDQ\GLVFRXQWRUSUHPLXPRQDFTXLVLWLRQDQGIHHVRU FRVWVWKDWDUHDQLQWHJUDOSDUWRIWKH(,57KH(,5DPRUWL]DWLRQLVLQFOXGHGLQRWKHULQFRPHLQWKHVWDWHPHQWRISUR¿WDQG ORVV7KHORVVHVDULVLQJIURPLPSDLUPHQWDUHUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV7KLVFDWHJRU\LQFOXGHVFDVKDQG EDQNEDODQFHVORDQVXQELOOHGUHFHLYDEOHVWUDGHDQGRWKHUUHFHLYDEOHV

Financial assets at Fair Value through Other Comprehensive Income (OCI)

$¿QDQFLDODVVHWLVFODVVL¿HGDQGPHDVXUHGDWIDLUYDOXHWKURXJK2&,LIERWKRIWKHIROORZLQJFULWHULDDUHPHW

D 7KHREMHFWLYHRIWKHEXVLQHVVPRGHOLVDFKLHYHGERWKE\FROOHFWLQJFRQWUDFWXDOFDVKÀRZVDQGVHOOLQJWKH¿QDQFLDO assets, and E 7KHDVVHW¶VFRQWUDFWXDOFDVKÀRZVUHSUHVHQWVROHO\SD\PHQWVRISULQFLSDODQGLQWHUHVW

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

Equity investments $OOHTXLW\LQVWUXPHQWVDUHLQLWLDOO\PHDVXUHGDWIDLUYDOXHDQGDUHVXEVHTXHQWO\UHPHDVXUHGZLWKDOOFKDQJHVUHFRJQL]HG LQWKHVWDWHPHQWRISUR¿WDQGORVV,QOLPLWHGFLUFXPVWDQFHVLQYHVWPHQWVIRUZKLFKVXI¿FLHQWPRUHUHFHQWLQIRUPDWLRQWR PHDVXUHIDLUYDOXHLVQRWDYDLODEOHFRVWUHSUHVHQWVWKHEHVWHVWLPDWHRIIDLUYDOXHZLWKLQWKDWUDQJH

'HUHFRJQLWLRQRI¿QDQFLDODVVHWV $¿QDQFLDODVVHWLVSULPDULO\GHUHFRJQL]HGZKHQWKHULJKWVWRUHFHLYHFDVKÀRZVIURPWKHDVVHWKDYHH[SLUHGRUWKH*URXS KDVWUDQVIHUUHGLWVULJKWVWRUHFHLYHFDVKÀRZVIURPWKHDVVHW

,PSDLUPHQWRI¿QDQFLDODVVHWV 7KH*URXSUHFRJQL]HVORVVDOORZDQFHVXVLQJWKHH[SHFWHGFUHGLWORVV (&/ PRGHOIRUWKH¿QDQFLDODVVHWVZKLFKDUHQRW IDLUYDOXHGWKURXJKSUR¿WDQGORVV/LIHWLPH(&/DOORZDQFHLVUHFRJQL]HGIRUWUDGHUHFHLYDEOHVZLWKQRVLJQL¿FDQW¿QDQFLQJ FRPSRQHQW)RUDOORWKHU¿QDQFLDODVVHWVH[SHFWHGFUHGLWORVVHVDUHPHDVXUHGDWDQDPRXQWHTXDOWRWKHPRQWK(&/ XQOHVVWKHUHKDVEHHQDVLJQL¿FDQWLQFUHDVHLQFUHGLWULVNIURPLQLWLDOUHFRJQLWLRQLQZKLFKFDVHWKH\DUHPHDVXUHGDWOLIHWLPH (&/7KHDPRXQWRIH[SHFWHGFUHGLWORVVHV RUUHYHUVDO WKDWLVUHTXLUHGWRDGMXVWWKHORVVDOORZDQFHDWWKHUHSRUWLQJGDWHLV UHFRJQL]HGLQVWDWHPHQWRISUR¿WDQGORVV

LL )LQDQFLDOOLDELOLWLHV

$OO¿QDQFLDOOLDELOLWLHVDUHUHFRJQL]HGLQLWLDOO\DWIDLUYDOXHDQGLQWKHFDVHRIORDQVDQGERUURZLQJVDQGSD\DEOHVQHWRI GLUHFWO\DWWULEXWDEOHWUDQVDFWLRQFRVWV

7KHVXEVHTXHQWPHDVXUHPHQWRI¿QDQFLDOOLDELOLWLHVGHSHQGVRQWKHLUFODVVL¿FDWLRQDVGHVFULEHGEHORZ

Financial liabilities at amortized cost 7KH*URXS¶V¿QDQFLDOOLDELOLWLHVDWDPRUWL]HGFRVWLQFOXGHVWUDGHSD\DEOHVERUURZLQJVLQFOXGLQJEDQNRYHUGUDIWVDQGRWKHU SD\DEOHV

$PRUWL]HGFRVWLVFDOFXODWHGE\WDNLQJLQWRDFFRXQWDQ\GLVFRXQWRUSUHPLXPRQDFTXLVLWLRQDQGIHHVRUFRVWVWKDWDUHDQ LQWHJUDOSDUWRIWKH(,57KH(,5DPRUWL]DWLRQLVLQFOXGHGDV¿QDQFHFRVWVLQWKHVWDWHPHQWRISUR¿WDQGORVV

Derecognition $¿QDQFLDOOLDELOLW\LVGHUHFRJQL]HGZKHQWKHREOLJDWLRQXQGHUWKHOLDELOLW\LVGLVFKDUJHGRUFDQFHOOHGRUH[SLUHV

LLL 'HULYDWLYH¿QDQFLDOLQVWUXPHQWVDQGKHGJHDFFRXQWLQJ

Foreign exchange forward contracts and options are purchased to mitigate the risk of changes in foreign exchange rates associated with forecast transactions denominated in certain foreign currencies and interest rate swaps are entered to PLWLJDWHLQWHUHVWUDWHÀXFWXDWLRQULVNRQLQGHEWHGQHVV

7KH*URXSUHFRJQL]HVDOOGHULYDWLYHVDVDVVHWVRUOLDELOLWLHVPHDVXUHGDWWKHLUIDLUYDOXH&KDQJHVLQIDLUYDOXHIRUGHULYDWLYHV not designated in a hedge accounting relationship are marked to market at each reporting date and the related gains ORVVHV DUH UHFRJQL]HG LQ WKH VWDWHPHQW RI SUR¿W DQG ORVV DV µIRUHLJQ H[FKDQJH JDLQV ORVVHV ¶ DQG µ¿QDQFH FRVWV¶ DV DSSOLFDEOH

The foreign exchange forward contracts, options and interest rate swaps in respect of forecast transactions which meet the KHGJLQJFULWHULDDUHGHVLJQDWHGDVFDVKÀRZKHGJHV&KDQJHVLQWKHIDLUYDOXHRIGHULYDWLYH QHWRIWD[ WKDWDUHGHVLJQDWHG DVHIIHFWLYHFDVKÀRZKHGJHVDUHGHIHUUHGDQGUHFRUGHGLQWKHKHGJLQJUHVHUYHDFFRXQWDVDFRPSRQHQWRIDFFXPXODWHG µRWKHUFRPSUHKHQVLYHLQFRPH ORVV ¶XQWLOWKHKHGJHGWUDQVDFWLRQRFFXUVDQGDUHWKHQUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿W DQGORVV7KHLQHIIHFWLYHSRUWLRQRIKHGJLQJGHULYDWLYHVLVLPPHGLDWHO\UHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

,QUHVSHFWRIGHULYDWLYHVGHVLJQDWHGDVKHGJHVWKH*URXSIRUPDOO\GRFXPHQWVDOOUHODWLRQVKLSVEHWZHHQKHGJLQJLQVWUXPHQWV DQGKHGJHGLWHPVDVZHOODVLWVULVNPDQDJHPHQWREMHFWLYHDQGVWUDWHJ\IRUXQGHUWDNLQJYDULRXVKHGJHWUDQVDFWLRQV7KH*URXS also formally assesses both at the inception of the hedge and on an ongoing basis, whether each derivative is highly effective in RIIVHWWLQJFKDQJHVLQIDLUYDOXHVRUFDVKÀRZVRIWKHKHGJHGLWHP7KH*URXSGHWHUPLQHVWKHH[LVWHQFHRIDQHFRQRPLFUHODWLRQVKLS EHWZHHQWKHKHGJLQJLQVWUXPHQWDQGKHGJHGLWHPEDVHGRQWKHFXUUHQF\DPRXQWDQGWLPLQJRIWKHLUUHVSHFWLYHFDVKÀRZV

+HGJHDFFRXQWLQJLVGLVFRQWLQXHGSURVSHFWLYHO\IURPWKHODVWWHVWLQJGDWHZKHQ LWLVGHWHUPLQHGWKDWWKHGHULYDWLYH¿QDQFLDO LQVWUXPHQWLVQRORQJHUHIIHFWLYHLQRIIVHWWLQJFKDQJHVLQWKHIDLUYDOXHRUFDVKÀRZVRIWKHXQGHUO\LQJH[SRVXUHEHLQJKHGJHG WKHGHULYDWLYH¿QDQFLDOLQVWUXPHQWPDWXUHVRULVVROGWHUPLQDWHGRUH[HUFLVHGRU LWLVGHWHUPLQHGWKDWGHVLJQDWLQJWKH GHULYDWLYH¿QDQFLDOLQVWUXPHQWDVDKHGJHLVQRORQJHUDSSURSULDWH:KHQKHGJHDFFRXQWLQJLVGLVFRQWLQXHGWKHGHIHUUHG JDLQVRUORVVHVRQWKHFDVKÀRZKHGJHUHPDLQLQµRWKHUFRPSUHKHQVLYHLQFRPH ORVV ¶XQWLOWKHIRUHFDVWWUDQVDFWLRQRFFXUV $Q\IXUWKHUFKDQJHLQWKHIDLUYDOXHRIWKHGHULYDWLYH¿QDQFLDOLQVWUXPHQWLVUHFRJQL]HGLQFXUUHQW\HDUHDUQLQJV

2IIVHWWLQJRI¿QDQFLDOLQVWUXPHQWV )LQDQFLDODVVHWVDQG¿QDQFLDOOLDELOLWLHVDUHRIIVHWDQGWKHQHWDPRXQWLVUHSRUWHGLQWKHFRQVROLGDWHGEDODQFHVKHHWLIWKHUH is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis to UHDOL]HWKHDVVHWVDQGVHWWOHWKHOLDELOLWLHVVLPXOWDQHRXVO\

W Dividend

X Earnings per share (EPS)

%DVLF(36DPRXQWVDUHFRPSXWHGE\GLYLGLQJWKHQHWSUR¿WDWWULEXWDEOHWRWKHHTXLW\KROGHUVRIWKHSDUHQWFRPSDQ\E\WKH ZHLJKWHGDYHUDJHQXPEHURIHTXLW\VKDUHVRXWVWDQGLQJGXULQJWKH\HDU

'LOXWHG(36DPRXQWVDUHFRPSXWHGE\GLYLGLQJWKHQHWSUR¿WDWWULEXWDEOHWRWKHHTXLW\KROGHUVRIWKHSDUHQWFRPSDQ\E\WKH ZHLJKWHGDYHUDJHQXPEHURIHTXLW\VKDUHVFRQVLGHUHGIRUGHULYLQJEDVLFHDUQLQJVSHUVKDUHDQGDOVRWKHZHLJKWHGDYHUDJH QXPEHURIHTXLW\VKDUHVWKDWFRXOGKDYHEHHQLVVXHGXSRQFRQYHUVLRQRIDOOGLOXWLYHSRWHQWLDOHTXLW\VKDUHV7KHGLOXWHGSRWHQWLDO HTXLW\VKDUHVDUHDGMXVWHGIRUWKHSURFHHGVUHFHLYDEOHKDGWKHVKDUHVEHHQDFWXDOO\LVVXHGDWIDLUYDOXH LHWKHDYHUDJHPDUNHW YDOXHRIWKHRXWVWDQGLQJVKDUHV 'LOXWLYHSRWHQWLDOHTXLW\VKDUHVDUHGHHPHGFRQYHUWHGDVDWWKHEHJLQQLQJRIWKH\HDUXQOHVV LVVXHGDWDODWHUGDWH'LOXWLYHSRWHQWLDOHTXLW\VKDUHVDUHGHWHUPLQHGLQGHSHQGHQWO\IRUHDFK\HDUSUHVHQWHG

7KHQXPEHURIVKDUHVDQGSRWHQWLDOO\GLOXWLYHHTXLW\VKDUHVDUHDGMXVWHGUHWURVSHFWLYHO\IRUDOOSHULRGVSUHVHQWHGIRUERQXV VKDUHV

Y Nature and purpose of reserves

&DSLWDOUHGHPSWLRQUHVHUYH 7KH*URXSUHFRJQL]HVFDQFHOODWLRQRIWKH*URXS¶VRZQHTXLW\LQVWUXPHQWVWRFDSLWDOUHGHPSWLRQUHVHUYH

6KDUHEDVHGSD\PHQWUHVHUYH The share options based payment reserve is used to recognize the grant date fair value of options issued to employees under (PSOR\HHVWRFNRSWLRQSODQ

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

&DVKÀRZKHGJLQJUHVHUYH )RUKHGJLQJIRUHLJQFXUUHQF\ULVNWKH*URXSXVHVIRUHLJQFXUUHQF\IRUZDUGDQGRSWLRQFRQWUDFWV7RWKHH[WHQWWKHVHKHGJHVDUH HIIHFWLYHWKHFKDQJHLQIDLUYDOXHRIWKHKHGJLQJLQVWUXPHQWLVUHFRJQL]HGLQWKHFDVKÀRZKHGJLQJUHVHUYH$PRXQWVUHFRJQL]HG LQWKHFDVKÀRZKHGJLQJUHVHUYHLVUHFODVVL¿HGWRWKHVWDWHPHQWRISUR¿WRUORVVZKHQWKHKHGJHGLWHPDIIHFWVSUR¿WRUORVV

'HEWLQVWUXPHQWVWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 7KH*URXSUHFRJQL]HVFKDQJHVLQWKHIDLUYDOXHRIGHEWLQVWUXPHQWVKHOGZLWKEXVLQHVVREMHFWLYHRIFROOHFWDQGVHOOLQRWKHU FRPSUHKHQVLYH LQFRPH 7KH *URXS WUDQVIHUV DPRXQWV IURP WKLV UHVHUYH WR WKH VWDWHPHQW RI SUR¿W DQG ORVV ZKHQ WKH GHEW LQVWUXPHQWLVVROG

$&48,6,7,216

D $FTXLVLWLRQVLQWKHFXUUHQW\HDU

$FTXLVLWLRQRI6HOHFW,%06RIWZDUHSURGXFWV

2Q'HFHPEHUWKH*URXSKDGVLJQHGDGH¿QLWLYHDJUHHPHQWWRDFTXLUHEXVLQHVVUHODWLQJWRVHOHFW,%0VRIWZDUHSURGXFWV for a consideration of ൘FURUHV

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the same has been estimated at ൘FURUHV

$FTXLVLWLRQ KDV EHHQ FRQVXPPDWHG HIIHFWLYH -XQH 7KH *URXS KDV SDLG ൘ FURUHV WLOO -XQH ൘ crores is payable after one year and ൘FURUHVLVSD\DEOHLQWKUHHWUDQFKHVRI൘FURUHVHDFKWLOO-XO\VXEMHFWWR IXO¿OPHQWRIFHUWDLQFRQGLWLRQVDVSHUDJUHHPHQW7KHVHSD\DEOHVKDYHEHHQIDLUYDOXHGDW൘FURUHV

7KH*URXSKDGHDUOLHUDFTXLUHGFHUWDLQLQWHOOHFWXDOSURSHUW\ULJKWV /LFHQVHG,35V IURP,%0IRUVRPHRIWKHVHSURGXFWVDQGZDV carrying these licensed IPRs at an unamortized value of ൘FURUHVDVRI-XQH7KLVDPRXQWKDVEHHQUHGXFHGIURP /LFHQVHG,35VDQGLQFOXGHGLQSXUFKDVHSULFH

The purchase price including the fair value of remaining consideration and unamortized value of Licensed IPRs of ൘FURUHV and ൘FURUHVUHVSHFWLYHO\LV൘FURUHVDQGKDVEHHQSUHOLPLQDULO\DOORFDWHGEDVHGRQPDQDJHPHQWHVWLPDWHVWRWKH DFTXLUHGDVVHWVDQGOLDELOLWLHVDVIROORZV

$PRXQW 5HFRYHUDEOHIURP,%0 DJDLQVWFRQWUDFWOLDELOLWLHV

&RQWUDFWOLDELOLWLHV

Deferred tax 9

3URSHUW\SODQWDQGHTXLSPHQWDQGVRIWZDUH

Intangible assets

Customer related intangibles

Technology

*RRGZLOO

7RWDOSUHOLPLQDU\SXUFKDVHFRQVLGHUDWLRQ

3UHVHQWHGJURVVRI൘FURUHVUHFRYHUDEOHIURP,%0ZLWKDFRUUHVSRQGLQJFRQWUDFWOLDELOLW\IRUFXVWRPHUFRQWUDFWVHQWHUHG E\,%0IRUWKHVHSURGXFWVZLWKVHUYLFHREOLJDWLRQFRPPHQFLQJDIWHU-XQH

7KHUHVXOWDQWJRRGZLOOLVFRQVLGHUHGWD[GHGXFWLEOHDQGKDVEHHQDOORFDWHGWRWKH3URGXFWV 3ODWIRUPVVHJPHQW7KLVJRRGZLOOLV DWWULEXWDEOHPDLQO\WR*URXS¶VDELOLW\WRXSJUDGHWKHSURGXFWVDQGHQKDQFHWKHVDOHRISURGXFWVWRFXVWRPHUVLQH[LVWLQJEXVLQHVV RIWKH*URXSDQGWDUJHWLQJQHZFXVWRPHUV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHWDEOHEHORZVKRZVWKHYDOXHVDQGOLYHVRILQWDQJLEOHDVVHWVUHFRJQL]HGRQDFTXLVLWLRQ

$PRXQW /LIH

6XEVHTXHQW WR WKH FRQVXPPDWLRQ GDWH WKH *URXS KDV UHFHLYHG FHUWDLQ UHYLVHG LQIRUPDWLRQ IURP VHOOHU ZKLFK KDV UHVXOWHG LQDGMXVWPHQWVLQWKHYDOXHRIDVVHWVDQGOLDELOLWLHVDFTXLUHGUHVXOWLQJLQWRLQFUHDVHLQLQWDQJLEOHDVVHWVE\൘FURUHVZLWK corresponding decrease in goodwill by ൘FURUHVDQGLQFUHDVHLQQHWDVVHWVE\൘FURUHV

$GGLWLRQDOO\WKH*URXSKDVSDLG¿UVWWUDQFKHRI൘FURUHVGXULQJWKH\HDUHQGHG0DUFK

7KH*URXSLVLQWKHSURFHVVRIPDNLQJD¿QDOGHWHUPLQDWLRQRIWKHIDLUYDOXHRIDVVHWVDQGOLDELOLWLHVDQGHYDOXDWLRQRIFHUWDLQ LWHPVUHODWLQJWRWD[DWLRQ)LQDOL]DWLRQRIWKHSXUFKDVHSULFHDOORFDWLRQPD\UHVXOWLQFHUWDLQDGMXVWPHQWVWRWKHDERYHDOORFDWLRQV

2WKHUDFTXLVLWLRQV

D 2Q$SULOWKH*URXSWKURXJKDZKROO\RZQHGVXEVLGLDU\HQWHUHGLQWRDQDJUHHPHQWWRDFTXLUHVKDUHKROGLQJLQ D&RPSDQ\LQ86GRLQJEXVLQHVVRIGLJLWDOWUDQVIRUPDWLRQFRQVXOWLQJ7KHDFTXLVLWLRQZLOOHQKDQFH*URXS¶VGLJLWDOFRQVXOWLQJ offerings with their strong capabilities in digital strategy development, agile program management, business transformation and RUJDQL]DWLRQDOFKDQJHPDQDJHPHQW

7KHWRWDOSXUFKDVHSULFHIRUWKHDFTXLVLWLRQLV൘FURUHV7KH*URXSKDVSDLG൘FURUHVWLOO0DUFK7RWDOSXUFKDVH consideration of ൘FURUHVKDVEHHQDOORFDWHGEDVHGRQPDQDJHPHQWHVWLPDWHVWRWKHDFTXLUHGDVVHWVDQGOLDELOLWLHVDVIROORZV

$PRXQW 1HWZRUNLQJFDSLWDO LQFOXGLQJFDVKRI൘FURUHV Deferred tax liability 3URSHUW\SODQWDQGHTXLSPHQWDQGVRIWZDUH Intangible assets Customer relationships Customer contracts %UDQG 5 *RRGZLOO 7RWDOSXUFKDVHFRQVLGHUDWLRQ

7KHUHVXOWDQWJRRGZLOOLVQRWFRQVLGHUHGWD[GHGXFWLEOHDQGKDVEHHQDOORFDWHGWR,7 EXVLQHVVVHUYLFHVVHJPHQW 7KHWDEOHEHORZVKRZVWKHYDOXHVDQGOLYHVRILQWDQJLEOHDVVHWVUHFRJQL]HGRQDFTXLVLWLRQ

$PRXQW /LIH

In addition to the purchase consideration, ൘FURUHLVSD\DEOHWRFHUWDLQNH\HPSOR\HHVRYHUDWZR\HDUSHULRG3D\PHQWRIWKLV amount is in the nature of long term incentive plan to the senior managers of the operating entities that includes retention and SHUIRUPDQFHEDVHGERQXVHV7KLVFRQVLGHUDWLRQLVEHLQJDFFRXQWHGIRUDVSRVWDFTXLVLWLRQHPSOR\HHFRPSHQVDWLRQH[SHQVHLQ DFFRUGDQFHZLWK,QG$6RQ³%XVLQHVVFRPELQDWLRQ´

E 2Q 2FWREHU WKH *URXS HQWHUHG LQWR DQ DJUHHPHQW WR DFTXLUH VKDUHKROGLQJ RI D &RPSDQ\ LQ ,QGLD ZKLFK RIIHUVDQLQWHJUDWHGSRUWIROLRRIVHUYLFHVDQGVROXWLRQWRLWVFXVWRPHUVLQNH\VHPLFRQGXFWRUGRPDLQV7KLVDFTXLVLWLRQRIIHUVDQ RSSRUWXQLW\WRFRPELQHDFTXLUHHDQDORJVWUHQJWKZLWK*URXSGLJLWDO62& 6\VWHPRQ&KLS H[SHUWLVHWRJDLQPDUNHWVKDUHLQ 9/6,GHVLJQVHUYLFHVPDUNHW

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHWRWDOSXUFKDVHSULFHIRUWKHDFTXLVLWLRQLV൘FURUHV7KH*URXSKDVSDLG൘FURUHVWLOO0DUFK

Total purchase consideration of ൘FURUHVKDVEHHQSUHOLPLQDULO\DOORFDWHGEDVHGRQPDQDJHPHQWHVWLPDWHVWRWKHDFTXLUHG assets and liabilities as follows:

7KHUHVXOWDQWJRRGZLOOLVQRWFRQVLGHUHGWD[GHGXFWLEOHDQGKDVEHHQDOORFDWHGWR(QJLQHHULQJDQG5 'VHUYLFHVVHJPHQW 7KHWDEOHEHORZVKRZVWKHYDOXHVDQGOLYHVRILQWDQJLEOHDVVHWVUHFRJQL]HGRQDFTXLVLWLRQ

$PRXQW /LIH

7KH*URXSLVLQWKHSURFHVVRIPDNLQJD¿QDOGHWHUPLQDWLRQRIWKHIDLUYDOXHRIDVVHWVDQGOLDELOLWLHV)LQDOL]DWLRQRIWKHSXUFKDVH SULFHDOORFDWLRQPD\UHVXOWLQFHUWDLQDGMXVWPHQWVWRWKHDERYHDOORFDWLRQ In addition to the purchase consideration, ൘FURUHVLVSD\DEOHWRFHUWDLQNH\HPSOR\HHVRYHUDWKUHH\HDUSHULRG3D\PHQWRI this amount is in the nature of long term incentive plan to the key employees of the operating entities that includes retention and SHUIRUPDQFHEDVHGERQXVHV7KLVFRQVLGHUDWLRQLVEHLQJDFFRXQWHGIRUDVSRVWDFTXLVLWLRQHPSOR\HHFRPSHQVDWLRQH[SHQVHLQ DFFRUGDQFHZLWK,QG$6RQ³%XVLQHVVFRPELQDWLRQ´

E $FTXLVLWLRQVLQWKHSUHYLRXV\HDU

$FTXLVLWLRQRI$FWLDQ&RUSRUDWLRQ

7KURXJKDGH¿QLWLYHDJUHHPHQWHQWHUHGRQ$SULOE\WKH*URXSDQG6XPHUX(TXLW\3DUWQHUV 6(3 WRDFTXLUH$FWLDQ &RUSRUDWLRQWKURXJKDMRLQWYHQWXUHFRPSDQ\WKHDFTXLVLWLRQKDVEHHQFRQVXPPDWHGRQ-XO\

7KH*URXSKDGSDLG൘FURUHVWRDFTXLUHVWDNHDQG6(3KDVSDLG൘FURUHVWRDFTXLUHVWDNHDQG&(2 of Actian has paid ൘FURUHVWRDFTXLUHVWDNHLQWKHMRLQWYHQWXUHFRPSDQ\DQGWKHEDODQFHSXUFKDVHFRQVLGHUDWLRQKDV EHHQIXQGHGWKURXJKLQWHUFRPSDQ\ORDQE\WKH*URXS7KHDFTXLVLWLRQLVSDUWRIWKH*URXS¶VVWUDWHJ\WRDXJPHQWLWVFDSDELOLWLHV LQWKHSURGXFWV SODWIRUPVEXVLQHVV

Total purchase consideration of ൘FURUHV LQFOXGLQJIDLUYDOXHRIRSWLRQV൘FURUHV KDVEHHQSUHOLPLQDULO\DOORFDWHG EDVHGRQPDQDJHPHQWHVWLPDWHVWRWKHDFTXLUHGDVVHWVDQGOLDELOLWLHVDVIROORZV

$PRXQW 1HWZRUNLQJFDSLWDO LQFOXGLQJFDVKRI൘FURUHV Deferred tax liability 3URSHUW\SODQWDQGHTXLSPHQW LQFOXGLQJVRIWZDUH Intangible assets Customer relationships Technology *RRGZLOO LQFOXGLQJIDLUYDOXHRIRSWLRQV൘FURUHV 7RWDOSXUFKDVHFRQVLGHUDWLRQ

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

The resultant goodwill is not considered tax deductible and was disclosed under software services segment at the time of DFTXLVLWLRQ'XULQJWKH\HDUHQGHG0DUFKWKH*URXSKDVUHRUJDQL]HGLWVHOILQWRWKHWKUHHVHJPHQWV UHIHUQRWH DFFRUGLQJO\WKHJRRGZLOOKDVEHHQUHDOORFDWHGWRQHZVHJPHQWV

7KHWDEOHEHORZVKRZVWKHYDOXHVDQGOLYHVRILQWDQJLEOHDVVHWVUHFRJQL]HGRQDFTXLVLWLRQ

$PRXQW /LIH

In addition to the purchase consideration, ൘ FURUH LV SD\DEOH WR HPSOR\HH RI WKH DFTXLUHG HQWLW\ LQ UHVSHFW RI XQYHVWHG RSWLRQVWKHDPRXQWSD\DEOHLQUHVSHFWRIVXFKRSWLRQVLVUHWDLQHGE\DFTXLUHUDQGZLOOEHUHOHDVHGXSRQWKHLQGLYLGXDOHPSOR\HH FRQWLQXHGVHUYLFHXSWR2FWREHU7KLVFRQVLGHUDWLRQKDVEHHQSDLGGXULQJWKHFXUUHQW\HDUHQGHG0DUFK

$VSDUWRIWKHMRLQWYHQWXUHDJUHHPHQW6(3KDYHFRQWULEXWHG൘FURUHVLQIRUPRISUHIHUUHGVWRFNTXDOL¿HGDV³FRPSRXQG ¿QDQFLDOLQVWUXPHQW´ HTXLW\DQG¿QDQFLDOOLDELOLW\ LQWKHERRNVRIMRLQWYHQWXUHFRPSDQ\FDUU\LQJFXPXODWLYHGLYLGHQGULJKWV ZLWKSDUWLFLSDWLQJGLYLGHQGULJKWVFRQYHUVLRQULJKWVLQWRHTXLW\YRWLQJULJKWVDQGKDVDSXWRSWLRQDIWHUWKHH[SLU\RI\HDUVWR UHTXLUHWKH*URXSWRUHSXUFKDVHDOOWKHVWDNHRZQHGE\6(3DWDSULFHGHSHQGHQWXSRQSHUIRUPDQFHRIWKHDFTXLUHH7KH*URXS DOVRKDYHDFDOORSWLRQWRSXUFKDVHDOOVWDNHKHOGE\6(3DIWHUWKHH[SLU\RI\HDUVDWDSULFHGHSHQGHQWXSRQWKHSHUIRUPDQFH RIWKHDFTXLUHH

The contribution by SEP of ൘FURUHVLQFOXGLQJWKHYDOXHRIRSWLRQVKDYHEHHQIDLUYDOXHGDW൘FURUHVDVFRPSRXQG ¿QDQFLDOLQVWUXPHQWDQGHTXLW\SRUWLRQKDVEHHQVHJUHJDWHGDQGUHFRUGHGDVQRQFRQWUROOLQJLQWHUHVWRI൘FURUHVDQG¿QDQFLDO liability of ൘FURUHVLQWKHFRQVROLGDWHGEDODQFHVKHHW

6XEVHTXHQWWRGHDOFRQVXPPDWLRQ&(2RI$FWLDQKDYHSDLG൘FURUHVWRDFTXLUHVWDNHLQWKH-RLQW9HQWXUH&RPSDQ\ 3RVWWKLVLQYHVWPHQWWKH*URXSDQG6(3VWDNHLQWKHMRLQWYHQWXUHFRPSDQ\LVDQGUHVSHFWLYHO\

'XULQJ WKH \HDU HQGHG 0DUFK WKH *URXS KDV ¿QDOL]HG SXUFKDVH SULFH DOORFDWLRQV IRU WKLV DFTXLVLWLRQV ZKLFK KDV resulted in increase in working capital by ൘FURUHVZLWKFRUUHVSRQGLQJUHGXFWLRQLQYDOXHRIJRRGZLOOIURP൘FURUHVWR ൘FURUHV

2WKHUDFTXLVLWLRQV

'XULQJWKHSUHYLRXV\HDUHQGHG0DUFKWKH*URXSKDGPDGHRWKHUDFTXLVLWLRQVDWDWRWDOSXUFKDVHSULFHRI൘FURUHV 7KH*URXSKDGSDLG൘FURUHVDQGKROGEDFNRI൘FURUHVLVSD\DEOHDWWKHHQGRIWZR\HDUVIURPWKHDFTXLVLWLRQGDWH

Total purchase consideration of ൘FURUHVKDVEHHQDOORFDWHGEDVHGRQPDQDJHPHQWHVWLPDWHVWRWKHDFTXLUHGDVVHWVDQG liabilities as follows:

$PRXQW Net working capital (including cash of ൘85 crores) 3URSHUW\SODQWDQGHTXLSPHQW 89 *RRGZLOO 7RWDOSXUFKDVHFRQVLGHUDWLRQ

7KHUHVXOWDQWJRRGZLOOLVQRWFRQVLGHUHGWD[GHGXFWLEOHDQGKDVEHHQDOORFDWHGWR,7DQG%XVLQHVV6HUYLFHVVHJPHQW

In addition to the purchase consideration, ൘FURUHLVSD\DEOHWRNH\HPSOR\HHVRYHUDWZR\HDUSHULRG3D\PHQWRIWKLV DPRXQW LVFRQWLQJHQW XSRQ DFKLHYLQJ FHUWDLQ VSHFL¿HG WDUJHWVDQG WKHVH HPSOR\HHV FRQWLQXLQJ WREH WKHHPSOR\HHV RIWKH FRPSDQ\RQWKHSD\PHQWGDWH7KLVFRQVLGHUDWLRQLVEHLQJDFFRXQWHGIRUDVSRVWDFTXLVLWLRQHPSOR\HHFRPSHQVDWLRQH[SHQVH LQDFFRUGDQFHZLWK,QG$6³%XVLQHVVFRPELQDWLRQ´

7KH*URXSLVLQWKHSURFHVVRIPDNLQJD¿QDOGHWHUPLQDWLRQRIWKHIDLUYDOXHRIDVVHWVDQGOLDELOLWLHV)LQDOL]DWLRQRIWKHSXUFKDVH SULFHDOORFDWLRQPD\UHVXOWLQFHUWDLQDGMXVWPHQWVWRWKHDERYHDOORFDWLRQ

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWV 3URSHUW\SODQWDQGHTXLSPHQW 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

&RPSXWHUVDQG Furniture )UHHKROG 3ODQWDQG 2I¿FH networking 9HKLFOHV %XLOGLQJV DQG Total ODQG HTXLSPHQW (TXLSPHQW HTXLSPHQW ¿[WXUHV 2ZQHG /HDVHG *URVVEORFNDVDW$SULO 74 47 Additions 58 7UDQVLWLRQLPSDFWRI,QG$6 UHIHUQRWH P $FTXLVLWLRQVWKURXJKEXVLQHVV 8 combinations Disposals Translation exchange differences 7 *URVVEORFNDVDW0DUFK - $FFXPXODWHGGHSUHFLDWLRQDV - DW$SULO Charge for the year 7UDQVLWLRQLPSDFWRI,QG$6 (9) (9) UHIHUQRWH P 'HGXFWLRQRWKHUDGMXVWPHQWV Translation exchange differences 8 $FFXPXODWHGGHSUHFLDWLRQDVDW - - 0DUFK 1HWEORFNDVDW0DUFK - 1RWH Capital work in progress includes ൘FURUHVLQWHUHVWRQH[WHQGHGLQWHUHVWEHDULQJVXSSOLHUVFUHGLWDQGGXULQJWKH\HDU൘FURUHV KDYHEHHQFDSLWDOL]HGE\WKH*URXS $OVRUHIHUIRRWQRWHRIQRWH

7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

&RPSXWHUVDQG Furniture )UHHKROG 3ODQWDQG 2I¿FH networking 9HKLFOHV %XLOGLQJV DQG Total ODQG HTXLSPHQW (TXLSPHQW HTXLSPHQW ¿[WXUHV 2ZQHG /HDVHG *URVVEORFNDVDW$SULO - Additions 55 $FTXLVLWLRQVWKURXJKEXVLQHVV combinations Disposals Translation exchange differences *URVVEORFNDVDW0DUFK 74 47 $FFXPXODWHGGHSUHFLDWLRQDVDW - - $SULO Charge for the year 9 $FTXLVLWLRQVWKURXJKEXVLQHVV combinations 'HGXFWLRQRWKHUDGMXVWPHQWV Translation exchange differences $FFXPXODWHGGHSUHFLDWLRQDVDW - 0DUFK 1HWEORFNDVDW0DUFK 74 1HWEORFNDVDW$SULO - 1RWH Capital work in progress includes ൘8 crores interest on extended interest bearing suppliers credit and during the year ൘9 crores KDYHEHHQFDSLWDOL]HGE\WKH*URXS $OVRUHIHUIRRWQRWHRIQRWH

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

*RRGZLOO (IIHFWLYH$SULOFRQVHTXHQWWRUHRUJDQL]DWLRQRILWVJOREDORSHUDWLRQVGXHWRWHFKQRORJLFDOFKDQJHVDQGEXVLQHVVUHTXLUHPHQWV ZLWKLQFUHDVHGIRFXVWRPHHWFXVWRPHUH[SHFWDWLRQVDQGSURYLGHEHWWHUVHUYLFHVWKH*URXSKDVUHRUJDQL]HGLWVHOILQWRWKUHHVHJPHQWV ,7DQG%XVLQHVV6HUYLFHV(QJLQHHULQJDQG5 '6HUYLFHVDQG3URGXFWV 3ODWIRUPVZKLFKOHGWRFKDQJHLQFRPSRVLWLRQRILWV&DVK *HQHUDWLQJXQLWV &*8V 5HIHUQRWHIRUIXUWKHULQIRUPDWLRQ $FFRUGLQJO\JRRGZLOOKDVEHHQUHDOORFDWHGEDVHGRQWKHUHODWLYHIDLUYDOXHRIHDFKQHZO\LGHQWL¿HG&*8V7KH*URXSWHVWHGJRRGZLOO DOORFDWHGWR&*8VIRULPSDLUPHQWSULRUWRWKH&*8FRPSRVLWLRQFKDQJHDQGLPPHGLDWHO\WKHUHDIWHUIRUHYHQWVDQGFRQGLWLRQV7KHIDLU YDOXHRIWKH*URXSDQGLWV&*8VZDVFDOFXODWHGXVLQJDGLVFRXQWHGFDVKÀRZPRGHOXVLQJHVWLPDWHGIXWXUHFDVKÀRZV7KHUHVXOWVRI RXUHYDOXDWLRQVKRZHGWKDWWKHIDLUYDOXHRIHDFKRIWKH&*8H[FHHGHGLWVERRNYDOXH 7KHIROORZLQJWDEOHSUHVHQWVWKHFKDQJHVLQWKHFDUU\LQJYDOXHRIJRRGZLOOEDVHGRQQHZLGHQWL¿HG&*8VIRUWKH\HDUHQGHG 0DUFK

Engineering 3URGXFWV ,7DQG%XVLQHVV DQG DQG Total 6HUYLFHV 5 'VHUYLFHV 3ODWIRUPV 2SHQLQJEDODQFHDVDW$SULO $FTXLVLWLRQVWKURXJKEXVLQHVVFRPELQDWLRQV 589 Effect of exchange rate changes &ORVLQJEDODQFHDVDW0DUFK

7KHIROORZLQJWDEOHSUHVHQWVWKHFKDQJHVLQJRRGZLOOEDVHGRQQHZLGHQWL¿HG&*8VIRUWKH\HDUHQGHG0DUFK

Engineering 3URGXFWV ,7DQG%XVLQHVV DQG DQG Total 6HUYLFHV 5 'VHUYLFHV 3ODWIRUPV 2SHQLQJEDODQFHDVDW$SULO $FTXLVLWLRQVWKURXJKEXVLQHVVFRPELQDWLRQV 0HDVXUHPHQWSHULRGDGMXVWPHQW>UHIHUQRWH@ Effect of exchange rate changes &ORVLQJEDODQFHDVDW0DUFK

)RUWKHSXUSRVHRILPSDLUPHQWWHVWLQJJRRGZLOODFTXLUHGLQDEXVLQHVVFRPELQDWLRQLVDOORFDWHGWRWKH&*8ZKLFKEHQH¿WIURPWKH V\QHUJLHVRIWKHDFTXLVLWLRQ *RRGZLOOLVWHVWHGIRULPSDLUPHQWDWOHDVWDQQXDOO\,PSDLUPHQWLVUHFRJQL]HGZKHQWKHFDUU\LQJDPRXQWRID&*8LQFOXGLQJWKHJRRGZLOO H[FHHGV WKH HVWLPDWHG UHFRYHUDEOH DPRXQW RI WKH &*87KH HVWLPDWHG YDOXHLQXVH RI WKLV &*8 LV EDVHG RQ WKH IXWXUH FDVK ÀRZ forecasts for 5 to 9 years & then on perpetuity on the basis of certain assumptions which include revenue growth, earnings before LQWHUHVWDQGWD[HVWD[HVFDSLWDORXWÀRZDQGZRUNLQJFDSLWDOUHTXLUHPHQW7KHDVVXPSWLRQVDUHWDNHQRQWKHEDVLVRISDVWWUHQGVDQG PDQDJHPHQWHVWLPDWHVDQGMXGJHPHQW)XWXUHFDVKÀRZVDUHGLVFRXQWHGZLWK³:HLJKWHG$YHUDJH&RVWRI&DSLWDO´7KHNH\DVVXPSWLRQV are as follows:

As at 0DUFK 0DUFK *URZWKUDWH XSWR XSWR 7HUPLQDOJURZWKUDWH XSWR XSWR 3UHWD[GLVFRXQWUDWH WR WR

$VDW0DUFKDQG0DUFKWKHHVWLPDWHGUHFRYHUDEOHDPRXQWRIWKH&*8H[FHHGHGLWVFDUU\LQJDPRXQWDQGDFFRUGLQJO\ QRLPSDLUPHQWZDVUHFRJQL]HG$QDQDO\VLVRIWKHVHQVLWLYLW\RIWKHFRPSXWDWLRQWRDFKDQJHLQNH\DVVXPSWLRQVEDVHGRQUHDVRQDEOH SUREDELOLW\GLGQRWLGHQWLI\DQ\SUREDEOHVFHQDULRLQZKLFKWKHUHFRYHUDEOHDPRXQWRIWKH&*8ZRXOGGHFUHDVHEHORZLWVFDUU\LQJDPRXQW

7KH*URXSWHVWVJRRGZLOOIRULPSDLUPHQWDQQXDOO\RUPRUHIUHTXHQWO\ZKHQWKHUHLVDQLQGLFDWLRQIRULPSDLUPHQW7KH*URXSKDVSHUIRUPHG LWVDQQXDOJRRGZLOOLPSDLUPHQWWHVWLQJFRQVLGHULQJWKHOLNHO\LPSDFWRI&29,'RQIXWXUHFDVKÀRZVGLVFRXQWUDWHVJURZWKUDWHV HDUQLQJVEHIRUHLQWHUHVWDQGWD[HVLQFOXGLQJWHUPLQDOJURZWKUDWHDORQJZLWKVXEMHFWLQJWKHVHYDULDEOHVWRVHQVLWLYLW\DQDO\VLVFRQVLGHULQJ LPSDFWHGLQGXVWU\YHUWLFDOVDQGJHRJUDSKLHV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHULQWDQJLEOHDVVHWV 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

,QWHOOHFWXDO Non- /LFHQVHG &XVWRPHU &XVWRPHU Software 7HFKQRORJ\ property FRPSHWH Total IPRs relationships FRQWUDFWV rights DJUHHPHQWV *URVVEORFNDVDW$SULO 4 Additions

$FTXLVLWLRQVWKURXJKEXVLQHVV 8 combinations 'LVSRVDOVRWKHUDGMXVWPHQWV UHIHU 9 QRWH D Translation exchange differences *URVVEORFNDVDW0DUFK 77 $FFXPXODWHGDPRUWL]DWLRQDVDW $SULO Charge for the year 5 'HGXFWLRQRWKHUDGMXVWPHQWV UHIHU QRWH D Translation exchange differences 79 $FFXPXODWHGDPRUWL]DWLRQDV 77 DW0DUFK 1HWEORFNDVDW0DUFK - Estimated remaining useful life 9 9 (in years)

7KH*URXSWHVWVLQWDQJLEOHDVVHWVIRULPSDLUPHQWZKHQWKHUHLVDQLQGLFDWLRQIRULPSDLUPHQW7KH*URXSKDVSHUIRUPHGDQHYDOXDWLRQRI the amortization period and method for its intangible assets, along with intangible assets impairment testing considering the likely impact RI&29,'RQIXWXUHFDVKÀRZVDQGJURZWKUDWHVDORQJZLWKVXEMHFWLQJWKHVHYDULDEOHVWRVHQVLWLYLW\DQDO\VLVFRQVLGHULQJLPSDFWHG LQGXVWU\YHUWLFDOVDQGJHRJUDSKLHV 7KHFKDQJHVLQWKHFDUU\LQJYDOXHIRUWKH\HDUHQGHG0DUFK

,QWHOOHFWXDO Non- /LFHQVHG &XVWRPHU &XVWRPHU Software 7HFKQRORJ\ property FRPSHWH Total IPRs relationships FRQWUDFWV rights DJUHHPHQWV *URVVEORFNDVDW$SULO Additions $FTXLVLWLRQVWKURXJKEXVLQHVV 875 combinations Disposals Translation exchange differences *URVVEORFNDVDW0DUFK 4 $FFXPXODWHGDPRUWL]DWLRQDV 17 7 1 DW$SULO Charge for the year 759 $FTXLVLWLRQVWKURXJKEXVLQHVV combinations 'HGXFWLRQRWKHUDGMXVWPHQWV Translation exchange differences 7 $FFXPXODWHGDPRUWL]DWLRQDVDW 0DUFK 1HWEORFNDVDW0DUFK - 4 1HWEORFNDVDW$SULO - Estimated remaining useful life 9 (in years) Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

,QYHVWPHQWV

As at 0DUFK 0DUFK )LQDQFLDODVVHWV 1RQFXUUHQW 8QTXRWHGLQYHVWPHQWV &DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV (TXLW\LQVWUXPHQWV Investment in limited liability partnership 77 Current 4XRWHGLQYHVWPHQWV Carried at fair value through other comprehensive income Investment in debt securities 8QTXRWHGLQYHVWPHQWV &DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV Investment in mutual funds

7RWDOLQYHVWPHQWV¿QDQFLDODVVHWV

$JJUHJDWHDPRXQWRITXRWHGLQYHVWPHQWV $JJUHJDWHDPRXQWRIXQTXRWHGLQYHVWPHQWV 0DUNHWYDOXHRITXRWHGLQYHVWPHQWV

Investment carried at fair value through other comprehensive income ,QYHVWPHQWFDUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV

/RDQV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHU¿QDQFLDODVVHWV

As at 0DUFK 0DUFK 1RQFXUUHQW &DUULHGDWDPRUWL]HGFRVW %DQNGHSRVLWVZLWKPRUHWKDQPRQWKVPDWXULW\ UHIHUQRWHEHORZ )LQDQFHOHDVHUHFHLYDEOHV>UHIHUQRWH E @ Security deposits 6HFXULW\GHSRVLWVUHODWHGSDUWLHV UHIHUQRWH 8QELOOHGUHFHLYDEOH Contract assets Other receivable &DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV Current &DUULHGDWDPRUWL]HGFRVW 8QELOOHGUHFHLYDEOH 8QELOOHGUHFHLYDEOHUHODWHGSDUWLHV UHIHUQRWH Contract assets Interest receivable Security deposits 77 6HFXULW\GHSRVLWVUHODWHGSDUWLHV UHIHUQRWH 9 )LQDQFHOHDVHUHFHLYDEOHV>UHIHUQRWH E @ Other receivable &DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV

&DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV 1RWH3OHGJHGZLWKEDQNVDVVHFXULW\IRUJXDUDQWHHV൘FURUHV 0DUFK1LO

2WKHUQRQFXUUHQWDVVHWV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

,QYHQWRULHV

As at 0DUFK 0DUFK 6WRFNLQWUDGH

7UDGHUHFHLYDEOHV

As at 0DUFK 0DUFK 8QVHFXUHGFRQVLGHUHGJRRG UHIHUQRWHEHORZ 7UDGHUHFHLYDEOHVZKLFKKDYHVLJQL¿FDQWLQFUHDVHLQFUHGLWULVN 7UDGHUHFHLYDEOHVFUHGLWLPSDLUHG Impairment allowance for bad and doubtful debts 1RWH,QFOXGHVUHFHLYDEOHVIURPUHODWHGSDUWLHVDPRXQWLQJWR൘FURUHV 0DUFK൘FURUHV

&DVKDQGEDQNEDODQFHV

As at 0DUFK 0DUFK D &DVKDQGFDVKHTXLYDOHQWV %DODQFHZLWKEDQNV LQFXUUHQWDFFRXQWV GHSRVLWVZLWKRULJLQDOPDWXULW\RIOHVVWKDQPRQWKV Remittances in transit 8QFODLPHGGLYLGHQGDFFRXQW 5 5 &DVKDQGFDVKHTXLYDOHQWVFRQVLVWVRIWKHIROORZLQJIRUWKHSXUSRVHRIWKHFDVKÀRZVWDWHPHQW &DVKDQGFDVKHTXLYDOHQW %DQNRYHUGUDIW UHIHUQRWH E 2WKHUEDQNEDODQFHV 'HSRVLWVZLWKUHPDLQLQJPDWXULW\XSWRPRQWKV UHIHUQRWHEHORZ 1RWH3OHGJHGZLWKEDQNVDVVHFXULW\IRUJXDUDQWHHV൘FURUHV 0DUFK൘FURUHV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHUFXUUHQWDVVHWV

As at 0DUFK 0DUFK 8QVHFXUHGFRQVLGHUHGJRRG Advances other than capital advances Security deposits Advances to employees Advances to suppliers Others Deferred contract cost 559 'HIHUUHGFRQWUDFWFRVWUHODWHGSDUWLHV UHIHUQRWHDQG Prepaid expenses 3UHSDLGUHQWDOVIRUOHDVHKROGODQG UHIHUQRWH 3UHSDLGH[SHQVHVUHODWHGSDUWLHV UHIHUQRWH *RRGVDQGVHUYLFHWD[UHFHLYDEOH 79 97 Other advances 8QVHFXUHGFRQVLGHUHGGRXEWIXO Advances other than capital advances Advances to employees Other advances Less: provision for doubtful advances - -

6KDUHFDSLWDO

As at 0DUFK 0DUFK $XWKRUL]HG 0DUFK HTXLW\VKDUHVRI൘HDFK ,VVXHGVXEVFULEHGDQGIXOO\SDLGXS 0DUFK HTXLW\VKDUHVRI൘HDFK

7HUPVULJKWVDWWDFKHGWRHTXLW\VKDUHV 7KH&RPSDQ\KDVRQO\RQHFODVVRIVKDUHVUHIHUUHGWRDVHTXLW\VKDUHVKDYLQJDSDUYDOXHRI൘(DFKKROGHURIHTXLW\VKDUHVLV HQWLWOHGWRRQHYRWHSHUVKDUH

,QWKHHYHQWRIOLTXLGDWLRQRIWKH&RPSDQ\WKHKROGHUVRIHTXLW\VKDUHVZLOOEHHQWLWOHGWRUHFHLYHWKHUHPDLQLQJDVVHWVRIWKH&RPSDQ\ DIWHUGLVWULEXWLRQRIDOOSUHIHUHQWLDODPRXQWV7KHGLVWULEXWLRQZLOOEHLQSURSRUWLRQWRWKHQXPEHURIHTXLW\VKDUHVKHOGE\WKHVKDUHKROGHUV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

5HFRQFLOLDWLRQRIWKHQXPEHURIVKDUHVRXWVWDQGLQJDWWKHEHJLQQLQJDQGDWWKHHQGRIWKH¿QDQFLDO\HDU

As at 0DUFK 0DUFK No. of shares ൘LQ&URUHV No. of shares ൘LQ&URUHV Number of shares at the beginning

Add: Shares issued on exercise of employee stock options

$GG%RQXVVKDUHVLVVXHG

Less: Shares extinguished on buyback (7)

Number of shares at the end

7KH&RPSDQ\GRHVQRWKDYHDQ\KROGLQJXOWLPDWHKROGLQJFRPSDQ\ 'HWDLOVRIVKDUHKROGHUVKROGLQJPRUHWKDQVKDUHVLQWKHFRPSDQ\

As at 0DUFK 0DUFK 1DPHRIWKHVKDUHKROGHU No. of shares KROGLQJ No. of shares KROGLQJ LQWKHFODVV LQWKHFODVV (TXLW\VKDUHVRI൘HDFKIXOO\SDLG 9DPD6XQGDUL,QYHVWPHQWV 'HOKL 3ULYDWH/LPLWHG HCL Holdings Private Limited

Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of ¿YH\HDUVLPPHGLDWHO\SUHFHGLQJWKHUHSRUWLQJGDWH

As at

0DUFK 0DUFK

Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being received in cash (TXLW\VKDUHV (TXLW\VKDUHV

Aggregate number and class of shares allotted as fully paid up by way of bonus shares (TXLW\VKDUHV (TXLW\VKDUHV

Aggregate number and class of shares bought back (TXLW\VKDUHV (TXLW\VKDUHV

'XULQJWKH\HDUSXUVXDQWWRWKHDSSURYDORIWKHVKDUHKROGHUVWKURXJKSRVWDOEDOORW LQFOXGLQJUHPRWHHYRWLQJ WKH&RPSDQ\KDVDOORWWHG ERQXVVKDUHVRI൘HDFKIXOO\SDLGXSRQ'HFHPEHULQWKHSURSRUWLRQRIHTXLW\VKDUHIRUHYHU\HTXLW\VKDUH RI൘HDFKKHOGE\WKHHTXLW\VKDUHKROGHUVRIWKH&RPSDQ\DVRQWKHUHFRUGGDWHRI'HFHPEHU&RQVHTXHQWO\WKH&RPSDQ\ FDSLWDOL]HGDVXPRI൘FURUHVIURP³UHWDLQHGHDUQLQJV´ 'XULQJWKHSUHYLRXV\HDUHQGHG0DUFKWKH&RPSDQ\FDUULHGRXWVKDUHEX\EDFNRIIXOO\SDLGXSHTXLW\VKDUHVRIIDFH YDOXHRI൘HDFKDWDSULFHRI൘SHUVKDUHSDLGLQFDVKIRUDQDJJUHJDWHFRQVLGHUDWLRQRI൘FURUHV6DPHZDVUHFRUGHGDV UHGXFWLRQLQHTXLW\VKDUHFDSLWDOE\൘FURUHVVHFXULWLHVSUHPLXPE\൘FURUHVJHQHUDOUHVHUYHE\൘FURUHVDQGUHWDLQHGHDUQLQJV E\൘FURUHV$VUHTXLUHGE\WKH&RPSDQLHV$FWFDSLWDOUHGHPSWLRQUHVHUYHRI൘7 crores was created out of retained earnings WRWKHH[WHQWRIVKDUHFDSLWDOH[WLQJXLVKHG7KHH[SHQVHVRI൘FURUHVUHODWLQJWREX\EDFNZDVDGMXVWHGDJDLQVWUHWDLQHGHDUQLQJV &DSLWDOPDQDJHPHQW 7KHSULPDU\REMHFWLYHRIWKH*URXS¶VFDSLWDOPDQDJHPHQWLVWRVXSSRUWEXVLQHVVFRQWLQXLW\DQGJURZWKRIWKHFRPSDQ\ZKLOHPD[LPL]LQJ WKHVKDUHKROGHUYDOXH7KH*URXSKDVEHHQGHFODULQJTXDUWHUO\GLYLGHQGIRUODVW\HDUV7KH*URXSGHWHUPLQHVWKHFDSLWDOUHTXLUHPHQW EDVHGRQDQQXDORSHUDWLQJSODQVDQGORQJWHUPDQGRWKHUVWUDWHJLFLQYHVWPHQWSODQV7KHIXQGLQJUHTXLUHPHQWVKDYHEHHQJHQHUDOO\PHW WKURXJKRSHUDWLQJFDVKÀRZVJHQHUDWHG7KH&RPSDQ\KDYHDOVRUHVRUWHGWRERUURZLQJWRPHHWORFDOIXQGLQJUHTXLUHPHQWVLQFHUWDLQ IRUHLJQVXEVLGLDULHV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

(PSOR\HH6WRFN2SWLRQ3ODQ (623 7KH&RPSDQ\KDVSURYLGHGVKDUHEDVHGSD\PHQWVFKHPHVWRLWVHPSOR\HHV'XULQJWKH\HDUHQGHG0DUFKDQGWKH following scheme was in operation:

(623 0D[LPXPQXPEHURIRSWLRQVXQGHUWKHSODQ 0HWKRGRIVHWWOHPHQW FDVKHTXLW\ (TXLW\ 9HVWLQJSHULRG PD[LPXP PRQWKV Exercise period from the date of vesting (maximum) 5 years Service period / 9HVWLQJFRQGLWLRQV *URXSSHUIRUPDQFH (DFKRSWLRQJUDQWHGXQGHUWKHDERYHSODQHQWLWOHVWKHKROGHUWRVL[WHHQHTXLW\VKDUHV HLJKWHTXLW\VKDUHVSULRUWRERQXVLVVXH RI WKH&RPSDQ\DWDQH[HUFLVHSULFHZKLFKLVDSSURYHGE\WKH1RPLQDWLRQDQG5HPXQHUDWLRQ&RPPLWWHH7KHDERYHSODQZDVFORVHGRQ 'HFHPEHU

7KHGHWDLOVRIDFWLYLW\XQGHUWKHSODQKDYHEHHQVXPPDUL]HGEHORZ

7KHZHLJKWHGDYHUDJHRSWLRQSULFHDWWKHGDWHRIH[HUFLVHIRUVWRFNRSWLRQVH[HUFLVHGGXULQJWKH\HDUZDV൘ 0DUFK ൘ The details of exercise price for outstanding stock options is as below:

:HLJKWHGDYHUDJH :HLJKWHG 1XPEHU Range of UHPDLQLQJ DYHUDJH 1DPHRIWKHSODQ of options H[HUFLVHSULFHV FRQWUDFWXDOOLIHRI H[HUFLVHSULFH RXWVWDQGLQJ RSWLRQV LQ\HDUV ൘ (PSOR\HHVWRFNRSWLRQSODQ 0DUFK ൘ 0DUFK ൘

7KHUHDUHQRRSWLRQVJUDQWHGGXULQJWKHFXUUHQW\HDUDQGSUHYLRXV\HDU

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

%RUURZLQJV

1RQFXUUHQW Current As at As at 0DUFK 0DUFK 0DUFK 0DUFK /RQJWHUPERUURZLQJV 6HFXUHG 7HUPORDQVIURPEDQNV UHIHUQRWHEHORZ )LQDQFHOHDVHREOLJDWLRQ>UHIHUQRWH P DQG@ 8QVHFXUHG 7HUPORDQVIURPEDQNV UHIHUQRWHEHORZ 2WKHUORDQV UHIHUQRWHEHORZ &XUUHQWPDWXULWLHVRIORQJWHUPERUURZLQJVGLVFORVHG XQGHU1RWH³2WKHU¿QDQFLDOOLDELOLWLHV´ - - 6KRUWWHUPERUURZLQJV 8QVHFXUHG %DQNRYHUGUDIW UHIHUQRWHEHORZ Term loans from banks (refer note 5 below) 757 - -

1RWH

7KH*URXSKDVDYDLOHGWHUPORDQVRI൘FURUHV 0DUFK൘FURUHV VHFXUHGDJDLQVWJURVVEORFNRIYHKLFOHVRI൘ FURUHV 0DUFK൘FURUHV DWLQWHUHVWUDWHVUDQJLQJIURPSDWRSD7KHORDQVDUHUHSD\DEOHRYHUDSHULRG RIWR\HDUVRQDPRQWKO\EDVLV

$QXQVHFXUHGORQJWHUPORDQRI൘FURUHV 0DUFK൘FURUHV ERUURZHGIURPEDQNVDWLQWHUHVWUDWHUDQJLQJIURP SDWRSD7KHVFKHGXOHGSULQFLSDOUHSD\PHQWVRIORDQVDUHDVIROORZV

As at 0DUFK 0DUFK :LWKLQRQH\HDU One to two years Two to three years 7KUHHWR¿YH\HDUV

7KHRWKHUORDQRI൘FURUHV 0DUFK൘FURUHV UHSUHVHQWVORQJWHUPORDQWDNHQIRUSXUFKDVHRISODQWDQGHTXLSPHQWDW LQWHUHVWUDWHVRISD7KHORDQVDUHUHSD\DEOHWLOO2FWREHURQTXDUWHUO\\HDUO\UHVW

&XUUHQWERUURZLQJVZHUHSULPDULO\RQDFFRXQWRIEDQNRYHUGUDIWVUHTXLUHGIRUPDQDJHPHQWRIZRUNLQJFDSLWDO7KH*URXSKDVDYDLOHG EDQNOLQHRIFUHGLWDWLQWHUHVWUDWHUDQJLQJIURPSDWRSDZKLFKLVUHSD\DEOHRQGHPDQG

8QVHFXUHGVKRUWWHUPORDQRI൘FURUHV 0DUFK൘FURUHV ERUURZHGIURPEDQNVDWLQWHUHVWUDWHRISDLV UHSD\DEOHLQ-XO\

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

2WKHU¿QDQFLDOOLDELOLWLHV

As at 0DUFK 0DUFK 1RQFXUUHQW &DUULHGDWDPRUWL]HGFRVW Employee bonuses accrued 7 Capital accounts payables Deferred consideration 8

&DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @

&DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV Contingent consideration /LDELOLW\WRZDUGVQRQFRQWUROOLQJLQWHUHVW Current &DUULHGDWDPRUWL]HGFRVW Current maturities of long term borrowings Interest accrued but not due on borrowings 8QFODLPHGGLYLGHQGV 5 5 Deferred consideration $FFUXHGVDODULHVDQGEHQH¿WV Employee bonuses accrued Other employee costs Others Liabilities for expenses /LDELOLWLHVIRUH[SHQVHVUHODWHGSDUWLHV UHIHUQRWH &DSLWDODFFRXQWVSD\DEOHV>LQFOXGHVVXSSOLHUFUHGLW൘FURUHV 0DUFK൘FURUHV @ &DSLWDODFFRXQWVSD\DEOHVUHODWHGSDUWLHV>LQFOXGHVVXSSOLHUFUHGLW൘FURUHV 0DUFK൘FURUHV @ UHIHUQRWH Supplier credit 6XSSOLHUFUHGLWUHODWHGSDUWLHV UHIHUQRWH %RRNRYHUGUDIW 7 Other payables

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

As at 0DUFK 0DUFK &DUULHGDWIDLUYDOXHWKURXJKRWKHUFRPSUHKHQVLYHLQFRPH 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @

&DUULHGDWIDLUYDOXHWKURXJKSUR¿WDQGORVV 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV>UHIHUQRWH D @ Contingent consideration 9 /LDELOLW\WRZDUGVQRQFRQWUROOLQJLQWHUHVW

3URYLVLRQV

As at 0DUFK 0DUFK 1RQFXUUHQW 3URYLVLRQIRUHPSOR\HHEHQH¿WV 3URYLVLRQIRUJUDWXLW\ UHIHUQRWH 3URYLVLRQIRUOHDYHEHQH¿WV 3URYLVLRQIRUSURYLGHQWIXQGOLDELOLWLHV UHIHUQRWH Current 3URYLVLRQIRUHPSOR\HHEHQH¿WV 3URYLVLRQIRUJUDWXLW\ UHIHUQRWH 88 3URYLVLRQIRUOHDYHEHQH¿WV

2WKHUQRQFXUUHQWOLDELOLWLHV

As at 0DUFK 0DUFK &RQWUDFWOLDELOLWLHV UHIHUQRWH Others

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 7UDGHSD\DEOHV

As at 0DUFK 0DUFK Trade payables 7UDGHSD\DEOHVUHODWHGSDUWLHV UHIHUQRWH

2WKHUFXUUHQWOLDELOLWLHV

As at 0DUFK 0DUFK &RQWUDFWOLDELOLWLHV UHIHUQRWH

&RQWUDFWOLDELOLWLHVUHODWHGSDUWLHV UHIHUQRWHDQG

Other advances

Advances received from customers

Others

:LWKKROGLQJDQGRWKHUWD[HVSD\DEOH

5HYHQXHIURPRSHUDWLRQV

Sale of hardware and software

'LVDJJUHJDWH5HYHQXH,QIRUPDWLRQ

The disaggregated revenue from contracts with the customers by contract type is as follows:

0DUFK 0DUFK Fixed price Time and material

2IWKHDERYH¿[HGSULFHUHYHQXH,7DQG%XVLQHVV6HUYLFHVDFFRXQWVIRU SUHYLRXV\HDU DQG3URGXFWV 3ODWIRUPVDFFRXQWV IRU SUHYLRXV\HDU DQG(QJLQHHULQJDQG5 'VHUYLFHVDFFRXQWVIRU SUHYLRXV\HDU )RUWLPHDQGPDWHULDOUHYHQXH,7 DQG%XVLQHVV6HUYLFHVDFFRXQWVIRU SUHYLRXV\HDU DQG(QJLQHHULQJDQG5 '6HUYLFHVDFFRXQWVIRU SUHYLRXV\HDU

5HYHQXHGLVDJJUHJDWLRQDVSHUJHRJUDSK\KDVEHHQLQFOXGHGLQVHJPHQWLQIRUPDWLRQ 5HIHUQRWH

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

E 9DULDEOHFRQVLGHUDWLRQDOORFDWHGHQWLUHO\WRDZKROO\XQVDWLV¿HGSHUIRUPDQFHREOLJDWLRQRUWRDZKROO\XQVDWLV¿HGSURPLVHWRWUDQVIHU a distinct good or service that forms part of a single performance obligation, or

F 9DULDEOHFRQVLGHUDWLRQLQWKHIRUPRIDVDOHVEDVHGRUXVDJHEDVHGUR\DOW\SURPLVHGLQH[FKDQJHIRUDOLFHQVHRILQWHOOHFWXDOSURSHUW\

&RQWUDFWEDODQFHV

&RQWUDFWDVVHWV$FRQWUDFWDVVHWLVDULJKWWRFRQVLGHUDWLRQWKDWLVFRQGLWLRQDOXSRQIDFWRUVRWKHUWKDQWKHSDVVDJHRIWLPH&RQWUDFW DVVHWVDUHUHFRJQL]HGZKHUHWKHUHLVH[FHVVRIUHYHQXHRYHUWKHELOOLQJV5HYHQXHUHFRJQL]HGEXWQRWELOOHGWRFXVWRPHUVLVFODVVL¿HG HLWKHUDVFRQWUDFWDVVHWVRUXQELOOHGUHFHLYDEOHLQRXUFRQVROLGDWHGEDODQFHVKHHW&RQWUDFWDVVHWVSULPDULO\UHODWHWRXQELOOHGDPRXQWV RQ¿[HGSULFHFRQWUDFWVXVLQJWKHFRVWWRFRVWPHWKRGRIUHYHQXHUHFRJQLWLRQ8QELOOHGUHFHLYDEOHVUHSUHVHQWVFRQWUDFWVZKHUHULJKWWR FRQVLGHUDWLRQLVXQFRQGLWLRQDO LHRQO\WKHSDVVDJHRIWLPHLVUHTXLUHGEHIRUHWKHSD\PHQWLVGXH

2XWRI൘FURUHVFRQWUDFWDVVHWVDVRQ0DUFK൘FURUHVSHUWDLQVWRWKHSHULRGSULRUWR0DUFKDQGWKHEDODQFH SHUWDLQVWRFXUUHQW\HDU

&RQWUDFWOLDELOLWLHV$FRQWUDFWOLDELOLW\DULVHVZKHQWKHUHLVH[FHVVELOOLQJRYHUWKHUHYHQXHUHFRJQL]HG

The below table discloses the movement in balances of contract liabilities :

Additional amounts billed but not recognized as revenue

Deduction on account of revenues recognized during the year

$GGLWLRQRQDFFRXQWRIDFTXLVLWLRQV

(IIHFWRIH[FKDQJHÀXFWXDWLRQV 8

%DODQFHDVDWHQGRIWKH\HDU

'HIHUUHGFRQWUDFWFRVW'HIHUUHGFRQWUDFWFRVWSULPDULO\UHSUHVHQWVWKHFRQWUDFWIXO¿OPHQWFRVWDQGFRVWIRUREWDLQLQJWKHFRQWUDFW

The below table discloses the movement in balance of deferred contract cost:

Additional cost capitalised during the year

Deduction on account of cost amortised during the year

(IIHFWRIH[FKDQJHÀXFWXDWLRQV

%DODQFHDVDWHQGRIWKH\HDU

7KHJURXSKDVHYDOXDWHGWKHLPSDFWRI&29,'UHVXOWLQJIURP D LQFUHDVHLQFRVWEXGJHWRI¿[HGSULFHSURMHFWVGXHWRDGGLWLRQDO HIIRUWV E RQHURXVSURMHFWV F SHQDOWLHVIRUQRWPHHWLQJ6/$V G YROXPHGLVFRXQWV H WHUPLQDWLRQGHIHUPHQWRISURMHFWVWRHQVXUH WKDWUHYHQXHLVUHFRJQLVHGDIWHUFRQVLGHULQJDOOWKHVHLPSDFWVWRWKHH[WHQWNQRZQDQGDYDLODEOHFXUUHQWO\:HZRXOGFRQWLQXHWRDVVHVV &29,'LPSDFWDVZHJRDORQJGXHWRXQFHUWDLQWLHVDVVRFLDWHGZLWKLWVQDWXUHDQGGXUDWLRQ

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 2WKHULQFRPH

&KDQJHVLQLQYHQWRULHVRIVWRFNLQWUDGH

(PSOR\HHEHQH¿WVH[SHQVH

)LQDQFHFRVWV

,QFRPHWD[HV

7KHUHFRQFLOLDWLRQEHWZHHQWKH*URXS¶VSURYLVLRQIRULQFRPHWD[DQGDPRXQWFRPSXWHGE\DSSO\LQJWKHVWDWXWRU\LQFRPHWD[UDWHLQ,QGLD is as follows:

,Q,QGLDWKHFRPSDQ\KDVEHQH¿WHGIURPFHUWDLQWD[LQFHQWLYHVWKDWWKH*RYHUQPHQWRI,QGLDKDVSURYLGHGIRUWKHXQLWVVLWXDWHGLQ 6SHFLDO(FRQRPLF=RQHV 6(=V XQGHUWKH6SHFLDO(FRQRPLF=RQH$FWZKLFKEHJDQSURYLGLQJVHUYLFHVRQRUDIWHU$SULO 7KHHOLJLEOHXQLWVDUHHOLJLEOHIRUDGHGXFWLRQRIRISUR¿WVRUJDLQVGHULYHGIURPWKHH[SRUWRIVHUYLFHVIRUWKH¿UVW¿YH \HDUVIURPFRPPHQFHPHQWRISURYLVLRQRIVHUYLFHVDQGRIVXFKSUR¿WVDQGJDLQVIRUDIXUWKHU¿YH\HDUV&HUWDLQWD[EHQH¿WVDUH DOVRDYDLODEOHIRUDIXUWKHU¿YH\HDUVVXEMHFWWRWKHXQLWPHHWLQJGH¿QHGFRQGLWLRQV7KHDIRUHVDLGWD[EHQH¿WVZLOOQRWEHDYDLODEOH WRXQLWVFRPPHQFLQJRSHUDWLRQVDIWHU-XQH

7KH&RPSDQ\DQGLWVVXEVLGLDULHVLQ,QGLDDUHVXEMHFWWR0LQLPXP$OWHUQDWH7D[ 0$7 RQLWVERRNSUR¿WVZKLFKJLYHVULVHWRIXWXUH HFRQRPLFEHQH¿WVLQWKHIRUPRIDGMXVWPHQWRIIXWXUHLQFRPHWD[OLDELOLW\0$7SDLGIRUD\HDUFDQEHVHWRIIDJDLQVWWKHQRUPDOWD[OLDELOLW\ ZLWKLQ¿IWHHQVXEVHTXHQW\HDUVH[SLULQJEHWZHHQWKH\HDUVWR

&RPSRQHQWVRIGHIHUUHGWD[DVVHWVDQGOLDELOLWLHVDVRQ0DUFK

5HFRJQL]HG 5HFRJQL]HG 5HFRJQL]HG GLUHFWO\ Opening LQ $FTXLVLWLRQV ([FKDQJH Closing LQSUR¿WDQG in equity EDODQFH UHFODVVL¿HG loss 'HFRQVROLGDWLRQ against tax GLIIHUHQFH EDODQFH IURP2&, OLDELOLW\ %XVLQHVVORVVHV (5)

0$7FUHGLWHQWLWOHPHQW

Provision for doubtful debts

Accrued employee costs 7

8QUHDOL]HGORVVRQGHULYDWLYH ¿QDQFLDOLQVWUXPHQWV

3URSHUW\SODQWDQGHTXLSPHQW

Employee stock compensation 7

Others 7

*URVVGHIHUUHGWD[DVVHWV $ 74

3URSHUW\SODQWDQGHTXLSPHQW 9

8QUHDOL]HGJDLQRQGHULYDWLYH ¿QDQFLDOLQVWUXPHQWV

Intangibles

Others 7

*URVVGHIHUUHGWD[OLDELOLWLHV % 44 -

1HWGHIHUUHGWD[DVVHWV $%

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

&RPSRQHQWVRIGHIHUUHGWD[DVVHWVDQGOLDELOLWLHVDVRQ0DUFK

5HFRJQL]HG 5HFRJQL]HG 5HFRJQL]HG GLUHFWO\ Opening LQ ([FKDQJH Closing LQSUR¿WDQG $FTXLVLWLRQV in equity EDODQFH UHFODVVL¿HG loss against tax GLIIHUHQFH EDODQFH IURP2&, OLDELOLW\ %XVLQHVVORVVHV 0$7FUHGLWHQWLWOHPHQW Provision for doubtful debts 7 Accrued employee costs 9 3URSHUW\SODQWDQGHTXLSPHQW Employee stock compensation 7 Others *URVVGHIHUUHGWD[DVVHWV $ 1 14 3URSHUW\SODQWDQGHTXLSPHQW 8QUHDOL]HGJDLQRQGHULYDWLYH ¿QDQFLDOLQVWUXPHQWV Intangibles Others 5 *URVVGHIHUUHGWD[OLDELOLWLHV % 7 - 1HWGHIHUUHGWD[DVVHWV $%

7KH&RPSDQ\¶VVXEVLGLDULHVKDYHUHFRJQL]HGGHIHUUHGWD[DVVHWVRQFDUU\IRUZDUGEXVLQHVVORVVHVZKLFKFDQEHXWLOL]HGDJDLQVWSUR¿WV ZLWKLQWKHOLPLWDQGFDUU\RYHUSHULRGSHUPLWWHGXQGHUODZVRIUHVSHFWLYHMXULVGLFWLRQV'HIHUUHGWD[DVVHWVSULPDULO\UHODWHGWRFDUULHG IRUZDUGORVVHVDQGRWKHUWHPSRUDU\GLIIHUHQFHVIRUFHUWDLQVXEVLGLDULHVDPRXQWLQJWR൘FURUHVZDVQRWUHFRJQL]HGDVSHUDSSOLFDEOH DFFRXQWLQJVWDQGDUGV7KHVHWD[ORVVHVFDQEHFDUULHGIRUZDUGIRUDQLQGH¿QLWHSHULRGH[FHSWIRUWD[ORVVHVDPRXQWLQJWR൘FURUHVLQ ,QGLDQVXEVLGLDU\ZKLFKZLOOH[SLUHE\0DUFK

$ERYHWDEOHUHSUHVHQWWKH*URVVGHIHUUHGWD[DVVHWVDQGOLDELOLWLHV$PRXQWVRIGHIHUUHGWD[DVVHWVDQGOLDELOLWLHVSUHVHQWHGLQVWDWHPHQW RIFRQVROLGDWHGEDODQFHVKHHWKDVEHHQRIIVHWZKHUHYHUWKH*URXSKDVOHJDOO\HQIRUFHDEOHULJKWDQGLVUHODWHGWRVDPHWD[DEOHDXWKRULW\

8QGLVWULEXWHGHDUQLQJVRIWKHVXEVLGLDULHVDJJUHJDWHDSSUR[LPDWHO\൘FURUHV 0DUFK൘FURUHV 7KH*URXSKDV WKHLQWHQWWRUHLQYHVWWKHXQGLVWULEXWHGIRUHLJQHDUQLQJLQGH¿QLWHO\LQLWVVLJQL¿FDQWRYHUVHDVRSHUDWLRQVDQGFRQVHTXHQWO\GLGQRWUHFRUGD GHIHUUHGWD[OLDELOLW\RQWKHXQGLVWULEXWHGHDUQLQJV

&RPSRQHQWVRIRWKHUFRPSUHKHQVLYHLQFRPHDWWULEXWDEOHWRVKDUHKROGHUVRIWKH&RPSDQ\

)RUWKH\HDUHQGHG 0DUFK 0DUFK A. ,WHPVWKDWZLOOQRWEHUHFODVVL¿HGWRVWDWHPHQWRISUR¿WDQGORVV 5HWDLQHGHDUQLQJV $FWXDULDOJDLQUHODWLQJWRGH¿QHGEHQH¿WSODQV Opening balance (net of tax) Actuarial gains (85) Income tax expense Closing balance (net of tax) B. ,WHPVWKDWZLOOEHUHFODVVL¿HGVXEVHTXHQWO\WRVWDWHPHQWRISUR¿WDQGORVV )RUHLJQFXUUHQF\WUDQVODWLRQUHVHUYH Opening balance Foreign currency translation Attributable to non controlling interest Closing balance

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

)RUWKH\HDUHQGHG 0DUFK 0DUFK &DVKÀRZKHGJLQJUHVHUYH Opening balance (net of tax) 8QUHDOL]HGJDLQV ORVVHV 5HFODVVL¿FDWLRQDGMXVWPHQWVLQWRRWKHU LQFRPH H[SHQVHQHW ,QFRPHWD[EHQH¿W H[SHQVH Closing balance (net of tax) 171 8QUHDOL]HGJDLQRQGHEWLQVWUXPHQWV Opening balance (net of tax) 8QUHDOL]HGJDLQV ORVVHV (5) ,QFRPHWD[EHQH¿W H[SHQVH Closing balance (net of tax) 727$/ %

(DUQLQJV3HU6KDUH

The computation of earnings per share is as follows:

/HDVHV

D *URXSDVDOHVVHH

7KH*URXS¶VVLJQL¿FDQWOHDVLQJDUUDQJHPHQWVDUHLQUHVSHFWRIOHDVHVIRURI¿FHVSDFHVDFFRPPRGDWLRQIRULWVHPSOR\HHVOHDVHKROG ODQGDQG,7HTXLSPHQWV

7KHGHWDLOVRIWKHULJKWRIXVHDVVHWKHOGE\WKH*URXSLVDVIROORZV

&RPSXWHUVDQG /HDVHKROG %XLOGLQJV networking Total ODQG HTXLSPHQW %DODQFHDVDW$SULO - - - - 7UDQVLWLRQLPSDFWRI,QG$6 UHIHUQRWH P Depreciation charge for the year Additions 877 899 $FTXLVLWLRQVWKURXJKEXVLQHVVFRPELQDWLRQV Derecognition Translation exchange differences %DODQFHDVDW0DUFK

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH The reconciliation of lease liabilities is as follows:

Total %DODQFHDVDW$SULO 7UDQVLWLRQLPSDFWRI,QG$6 UHIHUQRWH P Additions $PRXQWVUHFRJQL]HGLQVWDWHPHQWRISUR¿WDQGORVVDVLQWHUHVWH[SHQVH Payment of lease liabilities $FTXLVLWLRQVWKURXJKEXVLQHVVFRPELQDWLRQV Derecognition Translation exchange differences %DODQFHDVDW0DUFK

7KHOHDVHUHQWDOH[SHQVHUHODWLQJWRVKRUWWHUPOHDVHVUHFRJQL]HGLQWKHVWDWHPHQWRISUR¿WDQGORVVIRUWKH\HDUDPRXQWHGWR൘ FURUHV

7KHIROORZLQJWDEOHSUHVHQWVDPDWXULW\DQDO\VLVRIH[SHFWHGXQGLVFRXQWHGFDVKÀRZVIRUOHDVHOLDELOLWLHVDVRQ0DUFK

As at 0DUFK :LWKLQRQH\HDU One to two years Two to three years 7KUHHWR¿YH\HDUV Thereafter 7RWDOOHDVHSD\PHQWV Imputed interest 7RWDOOHDVHOLDELOLWLHV

&HUWDLQOHDVHDJUHHPHQWVLQFOXGHRSWLRQVWRWHUPLQDWHRUH[WHQGWKHOHDVHV7KHOHDVHDJUHHPHQWVGRQRWFRQWDLQDQ\PDWHULDO UHVLGXDOYDOXHJXDUDQWHHVRUPDWHULDOUHVWULFWLYHFRYHQDQWV

0RVWRIWKHOHDVHVHQWHUHGE\WKH*URXSDUHORQJWHUPLQQDWXUHDQGWKHXQGHUO\LQJOHDVHGSURSHUWLHVDUHEHLQJXVHGDVGHOLYHU\ FHQWHUVRURI¿FHV7KH*URXSGRHVQ¶WIRUHVHHDQ\PDMRUFKDQJHVLQOHDVHWHUPVRUWKHOHDVHVLQWKHIRUHVHHDEOHIXWXUHDVSHUFXUUHQW EXVLQHVVSURMHFWLRQVDIWHUFRQVLGHULQJWKHLPSDFWRI&29,'

7KHIROORZLQJWDEOHSUHVHQWVDPDWXULW\DQDO\VLVRIH[SHFWHGXQGLVFRXQWHGFDVKÀRZVIRUWKH¿QDQFHOHDVHREOLJDWLRQDVRQ0DUFK XQGHU,QG$6

Interest 7RWDOPLQLPXP 3UHVHQWYDOXH LQFOXGHGLQ OHDVHSD\PHQWV RIPLQLPXP PLQLPXPOHDVH RXWVWDQGLQJ OHDVHSD\PHQWV SD\PHQWV Not later than one year Later than one year and not later than 5 years

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH )XWXUHPLQLPXPOHDVHSD\PHQWVDQGWKHSD\PHQWSUR¿OHRIQRQFDQFHOODEOHRSHUDWLQJOHDVHVDVSHU,QG$6DVRQ0DUFK are as follows:

Total Not later than one year Later than one year and not later than 5 years /DWHUWKDQ¿YH\HDUV E *URXSDVDOHVVRU

7KH*URXSKDVJLYHQ,7HTXLSPHQWVWRLWVFXVWRPHUVRQD¿QDQFHOHDVHEDVLV7KHIXWXUHOHDVHUHFHLYDEOHVLQUHVSHFWRIDVVHWVJLYHQ RQ¿QDQFHOHDVHDUHDVIROORZV

Interest 3UHVHQWYDOXH 7RWDOPLQLPXP LQFOXGHGLQ RIPLQLPXP OHDVHSD\PHQWV PLQLPXPOHDVH OHDVHSD\PHQWV UHFHLYDEOH SD\PHQWV UHFHLYDEOH UHFHLYDEOH $VDW0DUFK Not later than one year 759 Later than one year and not later than 5 years $VDW0DUFK Not later than one year Later than one year and not later than 5 years

)LQDQFLDOLQVWUXPHQWV

D 'HULYDWLYHV

7KH *URXS LV H[SRVHG WR IRUHLJQ FXUUHQF\ ÀXFWXDWLRQV RQ DVVHWV OLDELOLWLHV DQG IRUHFDVWHG FDVK ÀRZV GHQRPLQDWHG LQ IRUHLJQ FXUUHQF\DQGLQWHUHVWUDWHÀXFWXDWLRQULVNRQLQGHEWHGQHVV7KHXVHRIGHULYDWLYHVWRKHGJHWKHULVNLVJRYHUQHGE\WKH*URXS¶V strategy, which provides principles on the use of such forward contracts, currency options and interest rate swaps consistent with the *URXS¶VULVNPDQDJHPHQWSROLF\7KHFRXQWHUSDUWLHVLQWKHVHGHULYDWLYHLQVWUXPHQWVDUHEDQNVDQGWKH*URXSFRQVLGHUVWKHULVNVRI QRQSHUIRUPDQFHE\WKHFRXQWHUSDUWLHVDVLQVLJQL¿FDQW7KH*URXSKDVHQWHUHGLQWRDVHULHVRIIRUHLJQH[FKDQJHIRUZDUGFRQWUDFWV RSWLRQVDQGLQWHUHVWUDWHVZDSVWKDWDUHGHVLJQDWHGDVFDVKÀRZKHGJHVDQGWKHUHODWHGIRUHFDVWHGWUDQVDFWLRQVH[WHQGWKURXJK )HEUXDU\7KH*URXSGRHVQRWXVHWKHVHGHULYDWLYHLQVWUXPHQWVIRUVSHFXODWLYHSXUSRVHV

The following table presents the aggregate notional principal amounts of the outstanding derivative instruments together with the related balance sheet exposure:

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH )RUHLJQH[FKDQJHIRUZDUG Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ GHQRPLQDWHGLQ &XUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK 6HOOFRYHUV 86',15 86' 77 *%3,15 *%3 (85,15 (85 CHF / INR CHF 7 6(.,15 6(. $8',15 $8' 9 5 12.,15 12. 8 CAD / INR CAD 5

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH )RUHLJQH[FKDQJHIRUZDUG Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ GHQRPLQDWHGLQ &XUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK JPY / INR JPY (8586' (85 75,979 *%386' *%3 7 12.86' 12. 0;186' 0;1 -3<86' JPY 58%86' 58% $8'86' $8' &+)86' CHF =$586' ZAR 3/186' PLN &1<86' CNY 1='86' NZD %5/86' %5/ %X\FRYHUV 3/186' PLN -3<86' JPY 6(.86' 6(. &$'86' CAD (7) 58%86' 58% *%386' *%3 (8586' (85 &=.86' &=. &+)86' CHF '..86' '.. 6*'86' 6*' 12.86' 12. =$586' ZAR 3+386' PHP

The following table presents the aggregate notional principal amounts of the outstanding forward options together with the related balance sheet exposure:

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ &XUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK 5DQJH)RUZDUG 6HOOFRYHUV 86',15 86' *%3,15 *%3 (85,15 (85 $8',15 $8' CHF / INR CHF

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ &XUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK 6(.,15 6(. (8586' (85 387 6HOOFRYHUV 86',15 86' 6HDJXOO 6HOOFRYHUV 86',15 86' *%386' *%3 (8586' (85 6HDJXOO %X\FRYHUV 86',15 86'

The following table presents the aggregate notional principal amounts of the outstanding interest rate swaps together with the related balance sheet exposure:

1RWLRQDOSULQFLSDODPRXQWV %DODQFHVKHHWH[SRVXUH Notional DPRXQWLQWKRXVDQGV $VVHW /LDELOLW\ ൘ &XUUHQF\ 0DUFK 0DUFK 0DUFK 0DUFK ,QWHUHVWUDWHVZDS ÀRDWLQJWR¿[HG 86' -

7KHQRWLRQDODPRXQWLVDNH\HOHPHQWRIGHULYDWLYH¿QDQFLDOLQVWUXPHQWDJUHHPHQWV+RZHYHUQRWLRQDODPRXQWVGRQRWUHSUHVHQWWKH DPRXQWH[FKDQJHGE\FRXQWHUSDUWLHVDQGGRQRWPHDVXUHWKH*URXS¶VH[SRVXUHWRFUHGLWULVNDVWKHVHFRQWUDFWVDUHVHWWOHGDWWKHLU IDLUYDOXHVDWWKHPDWXULW\GDWH

7KHEDODQFHVKHHWH[SRVXUHGHQRWHVWKHIDLUYDOXHVRIWKHVHFRQWUDFWVDWWKHUHSRUWLQJGDWHDQGLVSUHVHQWHGLQ൘FURUHV7KH*URXS SUHVHQWVLWVIRUHLJQH[FKDQJHGHULYDWLYHLQVWUXPHQWVRQDQHWEDVLVLQWKHFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVGXHWRWKHULJKWRIRIIVHW E\LWVLQGLYLGXDOFRXQWHUSDUWLHVXQGHUPDVWHUQHWWLQJDJUHHPHQWV

The fair value of the derivative instruments presented on a gross basis as at each date indicated below is as follows:

$VDW0DUFK )LQDQFLDODVVHWV )LQDQFLDOOLDELOLWLHV Total Current 1RQFXUUHQW Current 1RQFXUUHQW IDLUYDOXH 'HULYDWLYHVGHVLJQDWHGDV KHGJLQJLQVWUXPHQWV Foreign exchange contracts in 57 55 an asset position Foreign exchange contracts in (55) an liability position Interest rate swaps in an liability position Net asset (liability) 'HULYDWLYHVQRWGHVLJQDWHGDV KHGJLQJLQVWUXPHQWV Foreign exchange contracts in 95 an asset position Foreign exchange contracts in (77) an liability position Net asset (liability) 7RWDO'HULYDWLYHVDWIDLUYDOXH - Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

$VDW0DUFK )LQDQFLDODVVHWV )LQDQFLDOOLDELOLWLHV Total Current 1RQFXUUHQW Current 1RQFXUUHQW IDLUYDOXH 'HULYDWLYHVGHVLJQDWHGDV KHGJLQJLQVWUXPHQWV Foreign exchange contracts in an asset position Foreign exchange contracts in an liability position Net asset (liability) 'HULYDWLYHVQRWGHVLJQDWHGDV KHGJLQJLQVWUXPHQWV Foreign exchange contracts in an asset position Foreign exchange contracts in an liability position Net asset (liability) 7RWDO'HULYDWLYHVDWIDLUYDOXH -

The following tables set forth the fair value of derivative instruments included in the consolidated balance sheets as at each date indicated:

As at 0DUFK 0DUFK 'HULYDWLYHVGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV 8QUHDOL]HGJDLQRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWDVVHWV 8QUHDOL]HGJDLQRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUQRQFXUUHQWDVVHWV 8QUHDOL]HGORVVRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWOLDELOLWLHV 8QUHDOL]HGORVVRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUQRQFXUUHQWOLDELOLWLHV 'HULYDWLYHVQRWGHVLJQDWHGDVKHGJLQJLQVWUXPHQWV 8QUHDOL]HGJDLQRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWDVVHWV 8QUHDOL]HGORVVRQ¿QDQFLDOLQVWUXPHQWVFODVVL¿HGXQGHUFXUUHQWOLDELOLWLHV

0DWXULW\SUR¿OHRIGHULYDWLYHOLDELOLWLHVEDVHGRQFRQWUDFWXDOSD\PHQWVLVDVEHORZ

As at 0DUFK 0DUFK :LWKLQRQH\HDU One to two years Two to three years 79 7KUHHWR¿YH\HDUV 4

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHIROORZLQJWDEOHVXPPDUL]HVWKHDFWLYLWLHVLQWKHFRQVROLGDWHGVWDWHPHQWRISUR¿WDQGORVV

7KHIROORZLQJWDEOHVXPPDUL]HVWKHDFWLYLW\LQWKHDFFXPXODWHGµ2WKHUFRPSUHKHQVLYHLQFRPH¶ZLWKLQHTXLW\UHODWHGWRDOOGHULYDWLYHV FODVVL¿HGDVFDVKÀRZKHGJHV

7KHHVWLPDWHGQHWDPRXQWRIH[LVWLQJORVVWKDWLVH[SHFWHGWREHUHFODVVL¿HGLQWRWKHVWDWHPHQWRISUR¿WDQGORVVZLWKLQWKHQH[WWZHOYH PRQWKVLV൘FURUHV SUHYLRXV\HDUJDLQRI൘FURUHV

%DVLV WKH *URXS KHGJLQJ SROLF\PDQDJHPHQW KDV SHUIRUPHG DVVHVVPHQW RI &29,' SDQGHPLF¶V LPSDFW IRU DQ\ FKDQJH LQ probability of occurrence of the forecasted transactions, counter party credit risk and own credit risk, and believes that there is no LPSDFWRQHIIHFWLYHQHVVRILWVKHGJHV

E )LQDQFLDODVVHWVDQGOLDELOLWLHV

7KHFDUU\LQJYDOXHRI¿QDQFLDOLQVWUXPHQWVE\FDWHJRULHVDVDW0DUFKLVDVIROORZV

)DLUYDOXHWKURXJK Total )DLUYDOXHWKURXJK other $PRUWL]HG FDUU\LQJ SUR¿WDQGORVV FRPSUHKHQVLYH FRVW YDOXH LQFRPH )LQDQFLDODVVHWV Investments Trade receivables &DVKDQGFDVKHTXLYDOHQWV Other bank balances Loans 2WKHUV UHIHUQRWH Total )LQDQFLDOOLDELOLWLHV %RUURZLQJV Trade payables Lease liabilities 2WKHUV UHIHUQRWH Total

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 7KHFDUU\LQJYDOXHRI¿QDQFLDOLQVWUXPHQWVE\FDWHJRULHVDVDW0DUFKLVDVIROORZV

)DLUYDOXH )DLUYDOXH through Total $PRUWL]HG through other FDUU\LQJ FRVW SUR¿WDQGORVV FRPSUHKHQVLYH YDOXH LQFRPH )LQDQFLDODVVHWV Investments Trade receivables &DVKDQGFDVKHTXLYDOHQWV Other bank balances Loans 2WKHUV UHIHUQRWH Total )LQDQFLDOOLDELOLWLHV %RUURZLQJV Trade payables 2WKHUV UHIHUQRWH Total -

7UDQVIHURI¿QDQFLDODVVHWV

7KH*URXSKDVUHYROYLQJDFFRXQWVUHFHLYDEOHVEDVHGIDFLOLWLHVRI൘FURUHVSHUPLWWLQJLWWRVHOOFHUWDLQDFFRXQWVUHFHLYDEOHVWR EDQNVRQDQRQUHFRXUVHEDVLVLQWKHQRUPDOFRXUVHRIEXVLQHVV7KHDJJUHJDWHPD[LPXPFDSDFLW\XWLOL]HGE\WKH*URXSDWDQ\WLPH GXULQJWKH\HDUZDV൘FURUHV SUHYLRXV\HDU൘FURUHV 2XWVWDQGLQJXWLOL]DWLRQDJDLQVWWKLVIDFLOLW\DVRI0DUFKLV ൘FURUHV 0DUFK൘FURUHV

'XULQJWKH\HDUHQGHG0DUFKWKH*URXSKDVDOVRVROG¿QDQFHOHDVHUHFHLYDEOHVRI൘FURUHV SUHYLRXV\HDU൘FURUHV RQQRQUHFRXUVHEDVLV*DLQVRUORVVHVRQWKHVDOHDUHUHFRUGHGDWWKHWLPHRIWUDQVIHURIWKHVHUHFHLYDEOHVDQGDUHLPPDWHULDO7KH *URXSKDVLPPDWHULDORXWVWDQGLQJVHUYLFHREOLJDWLRQV

)DLUYDOXHKLHUDUFK\

7KHDVVHWVDQGOLDELOLWLHVPHDVXUHGDWIDLUYDOXHRQDUHFXUULQJEDVLVDVDW0DUFKDQGWKHEDVLVIRUWKDWPHDVXUHPHQWLVDV below:

)DLU9DOXH /HYHOLQSXWV /HYHOLQSXWV /HYHOLQSXWV Assets

,QYHVWPHQWVFDUULHGDWIDLUYDOXHWKURXJKSUR¿WDQG 77 loss Investments carried at fair value through other comprehensive income 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV /LDELOLWLHV 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV /LDELOLW\WRZDUGVQRQFRQWUROOLQJLQWHUHVW Contingent consideration 'XULQJWKH\HDUZHI-XO\WKHIDLUYDOXHRIFRUSRUDWHGHEWVHFXULWLHVLVGHWHUPLQHGXVLQJREVHUYDEOHPDUNHWV¶LQSXWVDQGLV FODVVL¿HGDV/HYHODVDJDLQVWHDUOLHUFODVVL¿FDWLRQDV/HYHO

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

7KHIROORZLQJWDEOHGLVFORVHVWKHDVVHWVDQGOLDELOLWLHVPHDVXUHGDWIDLUYDOXHRQDUHFXUULQJEDVLVDVDW0DUFKDQGWKHEDVLV for that measurement:

)DLU9DOXH /HYHOLQSXWV /HYHOLQSXWV /HYHOLQSXWV Assets

,QYHVWPHQWVFDUULHGDWIDLUYDOXHWKURXJKSUR¿WDQG 85 loss Investments carried at fair value through other comprehensive income 8QUHDOL]HGJDLQRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV /LDELOLWLHV 8QUHDOL]HGORVVRQGHULYDWLYH¿QDQFLDOLQVWUXPHQWV /LDELOLW\WRZDUGVQRQFRQWUROOLQJLQWHUHVW Contingent consideration

7KHUHKDYHEHHQQRWUDQVIHUVEHWZHHQ/HYHODQG/HYHOGXULQJWKHSUHYLRXV\HDU

9DOXDWLRQ0HWKRGRORJLHV

,QYHVWPHQWV7KH*URXS¶VLQYHVWPHQWVFRQVLVWRILQYHVWPHQWLQGHEWOLQNHGPXWXDOIXQGVZKLFKDUHGHWHUPLQHGXVLQJTXRWHGSULFHV RULGHQWLFDOTXRWHGSULFHVRIDVVHWVRUOLDELOLWLHVLQDFWLYHPDUNHWVDQGDUHFODVVL¿HGDV/HYHO)DLUYDOXHRIFRUSRUDWHGHEWVHFXULWLHV LVGHWHUPLQHGXVLQJREVHUYDEOHPDUNHWV¶LQSXWVDQGLVFODVVL¿HGDV/HYHO

,QYHVWPHQWVLQXQTXRWHGHTXLW\VKDUHVDQGOLPLWHGOLDELOLW\SDUWQHUVKLSVDUHFODVVL¿HGDVIDLUYDOXHWKURXJKSUR¿WDQGORVVDQGLV FODVVL¿HGDV/HYHO7KHUHPHDVXUHPHQWLVFDOFXODWHGXVLQJXQREVHUYDEOHLQSXWVEDVHGRQWKH*URXS¶VRZQDVVHVVPHQWRIWKLUG SDUW\YDOXDWLRQVDQGUHVSHFWLYHFRPSDQ\¶V¿QDQFLDOSHUIRUPDQFH

'HULYDWLYH¿QDQFLDOLQVWUXPHQWV7KH*URXS¶VGHULYDWLYH¿QDQFLDOLQVWUXPHQWVFRQVLVWRIIRUHLJQFXUUHQF\IRUZDUGH[FKDQJHFRQWUDFWV RSWLRQVDQGLQWHUHVWUDWHVZDSV)DLUYDOXHVIRUGHULYDWLYH¿QDQFLDOLQVWUXPHQWVDUHEDVHGRQEURNHUTXRWDWLRQVDQGDUHFODVVL¿HGDV /HYHO

/LDELOLW\WRZDUGVQRQFRQWUROOLQJLQWHUHVW$VSDUWRIWKHDFTXLVLWLRQRI³$FWLDQ&RUSRUDWLRQ´RQ-XO\MRLQWYHQWXUHU³6XPHUX (TXLW\ 3DUWQHUV´ 6(3 FRQWULEXWHG ൘ FURUHV LQ IRUP RI SUHIHUUHG VWRFN TXDOL¿HG DV ³FRPSRXQG ¿QDQFLDO LQVWUXPHQW´ HTXLW\ DQG¿QDQFLDOOLDELOLW\ LQWKHERRNVRIMRLQWYHQWXUHFRPSDQ\FRQWUROOHGE\WKH*URXSFDUU\LQJFXPXODWLYHGLYLGHQGULJKWVZLWK SDUWLFLSDWLQJGLYLGHQGULJKWVFRQYHUVLRQULJKWVLQWRHTXLW\YRWLQJULJKWVDQGKDVDSXWRSWLRQDIWHUWKHH[SLU\RI\HDUVWRUHTXLUHWKH *URXSWRUHSXUFKDVHDOOWKHVWDNHRZQHGE\6(3DWDSULFHGHSHQGHQWXSRQSHUIRUPDQFHRIWKHDFTXLUHH7KH*URXSDOVRKDYHD FDOORSWLRQWRSXUFKDVHDOOVWDNHKHOGE\6(3DIWHUWKHH[SLU\RI\HDUVDWDSULFHGHSHQGHQWXSRQWKHSHUIRUPDQFHRIWKHDFTXLUHH 7KHLQLWLDOFRQWULEXWLRQE\6(3RI൘FURUHVLQFOXGLQJWKHYDOXHRIRSWLRQVZDVIDLUYDOXHGDW൘FURUHVZDVUHFRUGHGDVQRQ FRQWUROOLQJLQWHUHVWRI൘FURUHVDQG¿QDQFLDOOLDELOLW\DWIDLUYDOXHWKURXJKSUR¿WDQGORVVRI൘FURUHV7KH¿QDQFLDOOLDELOLW\LV LQLWLDOO\DQGVXEVHTXHQWO\UHPHDVXUHGEDVHGRQLQGHSHQGHQWWKLUGSDUW\YDOXDWLRQXVLQJ³0RQWH&DUOR6LPXODWLRQ´PHWKRGRORJ\ &KDQJHLQVLJQL¿FDQWXQREVHUYDEOHLQSXWRIYRODWLOLW\LQWKHYDOXDWLRQE\ESVGRHVQRWKDYHDVLJQL¿FDQWLPSDFWRQWKHFDUU\LQJ YDOXHRIWKHOLDELOLW\LQWKH¿QDQFLDOVWDWHPHQW

)DLU YDOXH RI HDUQRXW FRQVLGHUDWLRQ7KH IDLU YDOXH PHDVXUHPHQW RI HDUQRXW FRQVLGHUDWLRQ LV GHWHUPLQHG XVLQJ /HYHO LQSXWV 7KH *URXS HDUQRXW FRQVLGHUDWLRQ UHSUHVHQWV D FRPSRQHQW RI WKH WRWDO SXUFKDVH FRQVLGHUDWLRQ IRU LWV YDULRXV DFTXLVLWLRQV 7KH PHDVXUHPHQWLVFDOFXODWHGXVLQJXQREVHUYDEOHLQSXWVEDVHGRQWKH*URXS¶VRZQDVVHVVPHQWRIDFKLHYHPHQWRIFHUWDLQSHUIRUPDQFH JRDOV

7KH*URXSDVVHVVHGWKDWIDLUYDOXHRIFDVKDQGVKRUWWHUPGHSRVLWVWUDGHUHFHLYDEOHVWUDGHSD\DEOHVEDQNRYHUGUDIWVDQGRWKHU FXUUHQWOLDELOLWLHVDSSUR[LPDWHWKHLUFDUU\LQJDPRXQWVODUJHO\GXHWRWKHVKRUWWHUPPDWXULWLHVRIWKHVHLQVWUXPHQWV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 7KHIROORZLQJWDEOHGLVFORVHVUHFRQFLOLDWLRQRI¿QDQFLDODVVHWVDQGOLDELOLWLHVFDWHJRULVHGZLWKLQ/HYHORIWKHIDLUYDOXHKLHUDUFK\

,QYHVWPHQWLQ XQTXRWHGHTXLW\ /LDELOLW\WRZDUGV Contingent VKDUHVDQG QRQFRQWUROOLQJ FRQVLGHUDWLRQ OLPLWHGOLDELOLW\ interest partnerships %DODQFHDVDW$SULO - 8QUHDOL]HGJDLQ ORVV RQIDLUYDOXHFKDQJHVUHFRJQL]HGLQ VWDWHPHQWRISUR¿WDQGORVV %XVLQHVVFRPELQDWLRQ Additional investments 3XUFKDVHSULFHDGMXVWPHQW Payment of liability Foreign currency translation %DODQFHDVDW0DUFK %DODQFHDVDW$SULO 8QUHDOL]HGORVVRQIDLUYDOXHFKDQJHVUHFRJQL]HGLQVWDWHPHQWRI SUR¿WDQGORVV Additional investments Distribution from limited liability partnership Payment of liability Foreign currency translation %DODQFHDVDW0DUFK 77

)LQDQFLDO DVVHWV PHDVXUHG XVLQJ OHYHO LQSXWV SULPDULO\ LQFOXGH LQYHVWPHQW VHFXULWLHV LQ OLTXLG GHEW IXQGV DQG WKH IDLU YDOXH EHLQJ PDUNHG WR DQ DFWLYH PDUNHW ZKLFK IDFWRUV WKH LPSDFW RI &29,' ZH GR QRW H[SHFW PDWHULDO YRODWLOLW\ LQ WKHVH ¿QDQFLDO DVVHWV

)LQDQFLDO DVVHWV DQG OLDELOLWLHV PHDVXUHG XVLQJ OHYHO LQSXWV ZKLFK LQFOXGH LQYHVWPHQW LQ GHEW VHFXULWLHV DQG GHULYDWLYH ¿QDQFLDO LQVWUXPHQWVDQG¿QDQFLDODVVHWVPHDVXUHGDWDPRUWLVHGFRVWZKLFKLQFOXGHFDVKDQGFDVKHTXLYDOHQWVDQGGHSRVLWVZLWKEDQNVDQG FRUSRUDWLRQVKDYHEHHQDVVHVVHGEDVLVFRXQWHUSDUW\FUHGLWULVN

7UDGH UHFHLYDEOHV XQELOOHG UHFHLYDEOHV ¿QDQFH OHDVH UHFHLYDEOHV DQG FRQWUDFW DVVHWV KDYH EHHQ YDOXHG DIWHU PDNLQJ UHVHUYH IRU allowances based on the expected credit loss method, considering factors like ageing, likelihood of increased credit risk and expected UHDOL]DELOLW\QDWXUHRIFXVWRPHUYHUWLFDOVFRQVLGHULQJLPSDFWRI&29,'±LPSDFWRQFXVWRPHUVDQGUHODWHGFXVWRPHUYHUWLFDOV

F )LQDQFLDOULVNPDQDJHPHQW

7KH*URXSLVH[SRVHGWRPDUNHWULVNFUHGLWULVNDQGOLTXLGLW\ULVNZKLFKPD\LPSDFWWKHIDLUYDOXHRILWV¿QDQFLDOLQVWUXPHQWV7KH *URXSKDVDULVNPDQDJHPHQWSROLF\WRPDQDJH PLWLJDWHWKHVHULVNV

7KH*URXS¶VULVNPDQDJHPHQWSROLF\DLPVWRUHGXFHYRODWLOLW\LQ¿QDQFLDOVWDWHPHQWVZKLOHPDLQWDLQLQJEDODQFHEHWZHHQSURYLGLQJ SUHGLFWDELOLW\LQWKH*URXS¶VEXVLQHVVSODQDORQJZLWKUHDVRQDEOHSDUWLFLSDWLRQLQPDUNHWPRYHPHQW

0DUNHWULVN

0DUNHWULVNLVWKHULVNWKDWWKHIDLUYDOXHRIIXWXUHFDVKÀRZVRID¿QDQFLDOLQVWUXPHQWZLOOÀXFWXDWHEHFDXVHRIFKDQJHVLQPDUNHW SULFHV0DUNHWULVNFRPSULVHVRIFXUUHQF\ULVNDQGLQWHUHVWUDWHULVN7KH*URXSLVSULPDULO\H[SRVHGWRÀXFWXDWLRQLQIRUHLJQFXUUHQF\ H[FKDQJHUDWHV

L )RUHLJQFXUUHQF\ULVN

)RUHLJQFXUUHQF\ULVNLVWKHULVNWKDWWKHIDLUYDOXHRUIXWXUHFDVKÀRZVRIDQH[SRVXUHZLOOÀXFWXDWHEHFDXVHRIFKDQJHVLQ H[FKDQJHUDWHV7KH*URXS¶VH[SRVXUHWRWKHULVNRIFKDQJHVLQH[FKDQJHUDWHVUHODWHVSULPDULO\WRWKH*URXS¶VRSHUDWLRQVDQG WKH*URXS¶VQHWLQYHVWPHQWVLQIRUHLJQVXEVLGLDULHV

The exchange rate risk primarily arises from assets and liabilities denominated in currencies other than the functional currency of WKHUHVSHFWLYHHQWLWLHVDQGIRUHLJQFXUUHQF\IRUHFDVWHGUHYHQXHDQGFDVKÀRZV$VLJQL¿FDQWSRUWLRQRIWKH*URXSUHYHQXHLVLQ

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

86'ROODU3RXQG6WHUOLQJ *%3 DQG(XURZKLOHDODUJHSRUWLRQRIFRVWVDUHLQ,QGLDQUXSHHV7KHÀXFWXDWLRQLQH[FKDQJHUDWHVLQ UHVSHFWWR,QGLDUXSHHPD\KDYHSRWHQWLDOLPSDFWRQWKHVWDWHPHQWRISUR¿WDQGORVVDQGRWKHUFRPSUHKHQVLYHLQFRPHDQGHTXLW\

7R PLWLJDWH WKH IRUHLJQ FXUUHQF\ ULVN WKH *URXS XVHV GHULYDWLYHV DV JRYHUQHG E\ WKH *URXS¶V VWUDWHJ\ ZKLFK SURYLGHV SULQFLSOHVRQWKHXVHRIVXFKIRUZDUGFRQWUDFWVDQGFXUUHQF\RSWLRQVFRQVLVWHQWZLWKWKH*URXS¶V5LVN0DQDJHPHQW3ROLF\

$SSUHFLDWLRQGHSUHFLDWLRQRILQUHVSHFWLYHIRUHLJQFXUUHQFLHVZLWKUHVSHFWWRIXQFWLRQDOFXUUHQF\RIWKH&RPSDQ\DQGLWV VXEVLGLDULHVZRXOGUHVXOWLQGHFUHDVHLQFUHDVHLQWKH*URXS¶VSUR¿WEHIRUHWD[E\DSSUR[LPDWHO\൘FURUHVIRUWKH\HDUHQGHG 0DUFK

The rate sensitivity is calculated by aggregation of the net foreign exchange exposure and a simultaneous parallel foreign H[FKDQJHUDWHVVKLIWRIDOOWKHFXUUHQFLHVE\DJDLQVWWKHUHVSHFWLYHIXQFWLRQDOFXUUHQFLHVRIWKH&RPSDQ\DQGLWVVXEVLGLDULHV 7KHVHQVLWLYLW\DQDO\VLVSUHVHQWHGDERYHPD\QRWEHUHSUHVHQWDWLYHRIWKHDFWXDOFKDQJH

1RQGHULYDWLYHIRUHLJQFXUUHQF\H[SRVXUHDVRI0DUFKDQG0DUFKLQPDMRUFXUUHQFLHVLVDVEHORZ

1HW¿QDQFLDODVVHWV 1HW¿QDQFLDOOLDELOLWLHV 0DUFK 0DUFK 0DUFK 0DUFK 86',15

*%3,15 87

(852,15

LL ,QWHUHVWUDWHULVN

,QWHUHVWUDWHULVNLVWKHULVNWKDWWKHIDLUYDOXHRUIXWXUHFDVKÀRZVRID¿QDQFLDOLQVWUXPHQWZLOOÀXFWXDWHEHFDXVHRIFKDQJHVLQPDUNHW LQWHUHVWUDWHV7KH*URXS¶VH[SRVXUHWRWKHULVNRIFKDQJHVLQPDUNHWLQWHUHVWUDWHVDULVHVRQERUURZLQJVZLWKÀRDWLQJLQWHUHVWUDWH ZKLFKLVQRWPDWHULDO

&UHGLWULVN

)LQDQFLDOLQVWUXPHQWVWKDWSRWHQWLDOO\VXEMHFWWKH*URXSWRFRQFHQWUDWLRQRIFUHGLWULVNFRQVLVWSULQFLSDOO\RIFDVKDQGEDQNEDODQFHV LQWHUFRUSRUDWHGHSRVLWVWUDGHUHFHLYDEOHVXQELOOHGUHFHLYDEOHV¿QDQFHOHDVHUHFHLYDEOHVLQYHVWPHQWVHFXULWLHVDQGGHULYDWLYHLQVWUXPHQWV 7KHFDVKUHVRXUFHVRIWKH*URXSDUHLQYHVWHGZLWKPXWXDOIXQGVEDQNV¿QDQFLDOLQVWLWXWLRQVDQGFRUSRUDWLRQVDIWHUDQHYDOXDWLRQRIWKH FUHGLWULVN%\WKHLUQDWXUHDOOVXFK¿QDQFLDOLQVWUXPHQWVLQYROYHULVNVLQFOXGLQJWKHFUHGLWULVNRIQRQSHUIRUPDQFHE\FRXQWHUSDUWLHV

7KH FXVWRPHUV RI WKH *URXS DUH SULPDULO\ FRUSRUDWLRQV EDVHG LQ WKH 8QLWHG 6WDWHV RI $PHULFD DQG (XURSH DQG DFFRUGLQJO\ WUDGH UHFHLYDEOHVDQG¿QDQFHOHDVHUHFHLYDEOHVDUHFRQFHQWUDWHGLQWKHUHVSHFWLYHFRXQWULHV7KH*URXSSHULRGLFDOO\DVVHVVHVWKH¿QDQFLDO UHOLDELOLW\RIFXVWRPHUVWDNLQJLQWRDFFRXQWWKH¿QDQFLDOFRQGLWLRQFXUUHQWHFRQRPLFWUHQGVDQDO\VLVRIKLVWRULFDOEDGGHEWVDQGDJHLQJRI WUDGHUHFHLYDEOHVXQELOOHGUHFHLYDEOHVDQG¿QDQFHOHDVHUHFHLYDEOHV

The allowance for lifetime expected credit loss on customer balances is as below:

As at 0DUFK 0DUFK %DODQFHDWWKHEHJLQQLQJRIWKH\HDU

Additional provision during the year

Deductions on account of write offs and collections

2WKHUDGMXVWPHQWV

Effect of exchange rates changes 5

%DODQFHDWWKHHQGRIWKH\HDU

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

/LTXLGLW\ULVN

/LTXLGLW\ULVNLVWKHULVNWKDWWKH*URXSZLOOHQFRXQWHUGLI¿FXOW\LQPHHWLQJLWVREOLJDWLRQVDVVRFLDWHGZLWK¿QDQFLDOOLDELOLWLHV7KHLQYHVWPHQW SKLORVRSK\RIWKH*URXSLVFDSLWDOSUHVHUYDWLRQDQGOLTXLGLW\LQSUHIHUHQFHWRUHWXUQV7KH*URXSFRQVLVWHQWO\JHQHUDWHVVXI¿FLHQWFDVK ÀRZVIURPRSHUDWLRQVDQGKDVDFFHVVWRPXOWLSOHVRXUFHVRIIXQGLQJWRPHHWWKH¿QDQFLDOREOLJDWLRQVDQGPDLQWDLQDGHTXDWHOLTXLGLW\IRU XVH

0DWXULW\SUR¿OHRIWKH*URXS¶V¿QDQFLDOOLDELOLWLHVEDVHGRQFRQWUDFWXDOSD\PHQWVLVDVEHORZ

Year 1

2IIVHWWLQJRI¿QDQFLDOLQVWUXPHQWV

8QGHUFDVKSRROLQJDUUDQJHPHQWVZLWKEDQNVRXWVLGH,QGLDWKHFRQWUDFWXDOWHUPVRIDUUDQJHPHQWVSUHFOXGHLQGLYLGXDOEDQNDFFRXQWV ZLWKLQWKHDUUDQJHPHQWIURPEHLQJFRQVLGHUHGVHSDUDWHXQLWVRIDFFRXQW$FFRUGLQJO\WKHEDODQFHVRIDOOVXFKEDQNDFFRXQWVVXEMHFW WRWKHDUUDQJHPHQWVDUHSUHVHQWHGRQQHWEDVLV7KHLPSDFWRIVXFKQHWWLQJRQJURVVEDQNEDODQFHVRI൘FURUHV 0DUFK ൘FURUHV DQGJURVVEDQNRYHUGUDIWRI൘FURUHV 0DUFK൘FURUHV LV൘FURUHV 0DUFK൘FURUHV

6HJPHQW5HSRUWLQJ

2SHUDWLQJVHJPHQWVDUHGH¿QHGDVFRPSRQHQWVRIDQHQWHUSULVHIRUZKLFKGLVFUHWH¿QDQFLDOLQIRUPDWLRQLVDYDLODEOHDQGZKRVHUHVXOWV DUH UHYLHZHG UHJXODUO\ E\ WKH FKLHI RSHUDWLQJ GHFLVLRQ PDNHU &2'0 IRU DOORFDWLRQ RI UHVRXUFHV DQG DVVHVV SHUIRUPDQFH 7LOO 0DUFK&2'0HYDOXDWHGWKH*URXS¶VSHUIRUPDQFHE\EXVLQHVVVHJPHQWFRPSULVLQJVRIWZDUHVHUYLFHVLQIUDVWUXFWXUHPDQDJHPHQW VHUYLFHVDQGEXVLQHVVSURFHVVRXWVRXUFLQJVHUYLFHV

&RQVHTXHQWWRUHRUJDQL]DWLRQRILWVJOREDORSHUDWLRQVGXHWRWHFKQRORJLFDOFKDQJHVDQGEXVLQHVVUHTXLUHPHQWVZLWKLQFUHDVHGIRFXV WRPHHWFXVWRPHUH[SHFWDWLRQVDQGSURYLGHEHWWHUVHUYLFHVWKHJURXSHIIHFWLYH$SULOKDVUHRUJDQL]HGLWVHOILQWRWKHIROORZLQJ VHJPHQWV

,7DQG%XVLQHVV6HUYLFHVSURYLGHDFRPSUHKHQVLYHSRUWIROLRRI,7 %XVLQHVV6HUYLFHV $SSOLFDWLRQ,QIUDVWUXFWXUHDQG'LJLWDO3URFHVV 2SHUDWLRQV DQG'LJLWDOWUDQVIRUPDWLRQVHUYLFHVHQDEOHGE\'LJLWDODQG$QDO\WLFV,R7:R5.V&ORXGQDWLYHDQG&\EHUVHFXULW\VROXWLRQV LQFOXGLQJSURGXFWVGHYHORSHGZLWKLQWKHVHEXVLQHVVHV

(QJLQHHULQJDQG5 '6HUYLFHV provides comprehensive engineering services and solutions across software, embedded, mechanical, 9/6,DQGSODWIRUPHQJLQHHULQJWKDWVXSSRUWWKHHQGWRHQGOLIHF\FOHRISURGXFWV±ERWKKDUGZDUHDQGVRIWZDUHDFURVVGLYHUVHLQGXVWULHV LQFOXGLQJSURGXFWVGHYHORSHGZLWKLQWKLVEXVLQHVV

3URGXFWV 3ODWIRUPV includes standalone product businesses that provide modernized software products to global clients for their WHFKQRORJ\DQGLQGXVWU\VSHFL¿FUHTXLUHPHQWV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH Segment information previously reported has been restated to present business segments following the change in composition of RSHUDWLQJVHJPHQWV7KLVFKDQJHLQVHJPHQWSUHVHQWDWLRQGRHVQRWDIIHFWWKHFRQVROLGDWHGVWDWHPHQWVRILQFRPHDQGFRPSUHKHQVLYH LQFRPHEDODQFHVKHHWVRUVWDWHPHQWVRIFDVKÀRZV

6HJPHQWDFFRXQWLQJSROLFLHV

7KHDFFRXQWLQJSULQFLSOHVXVHGLQWKHSUHSDUDWLRQRIWKH¿QDQFLDOVWDWHPHQWVDUHFRQVLVWHQWO\DSSOLHGWRUHFRUGUHYHQXHDQGH[SHQGLWXUH LQLQGLYLGXDOVHJPHQWVDQGDUHDVVHWRXWLQQRWHWRWKH¿QDQFLDOVWDWHPHQWVRQVLJQL¿FDQWDFFRXQWLQJSROLFLHV7KHDFFRXQWLQJSROLFLHV in relation to segment accounting are as under:

D 6HJPHQWUHYHQXHDQGH[SHQVHV Segment revenue is directly attributable to the segment and segment expenses have been allocated to various segments on the EDVLVRIVSHFL¿FLGHQWL¿FDWLRQ+RZHYHUVHJPHQWUHYHQXHGRHVQRWLQFOXGHRWKHULQFRPH6HJPHQWH[SHQVHVGRQRWLQFOXGH¿QDQFH FRVWH[FKDQJHGLIIHUHQFHVDQGWD[H[SHQVH

E 6HJPHQWDVVHWVDQGOLDELOLWLHV

$VVHWVDQGOLDELOLWLHVDUHQRWLGHQWL¿HGWRDQ\UHSRUWDEOHVHJPHQWVVLQFHWKHVHDUHXVHGLQWHUFKDQJHDEO\DFURVVVHJPHQWVDQG FRQVHTXHQWO\WKHPDQDJHPHQWEHOLHYHVWKDWLWLVQRWSUDFWLFDEOHRUPHDQLQJIXOWRSURYLGHVHJPHQWGLVFORVXUHVUHODWLQJWRWRWDODVVHWV DQGOLDELOLWLHV

)LQDQFLDOLQIRUPDWLRQDERXWWKHEXVLQHVVVHJPHQWVIRUWKH\HDUHQGHG0DUFKLVDVIROORZV

Engineering ,7DQG%XVLQHVV 3URGXFWV DQG5 ' Total 6HUYLFHV 3ODWIRUPV VHUYLFHV 6HJPHQWUHYHQXHV /HVV,QWHUVHJPHQWUHYHQXH 1HWUHYHQXHRIRSHUDWLRQVIURPH[WHUQDOFXVWRPHUV 6HJPHQWUHVXOWV Finance cost Exchange differences (net) Other income 589 3UR¿WEHIRUHWD[ Tax expense 3UR¿WIRUWKH\HDU 6LJQL¿FDQWQRQFDVKLWHPV Depreciation and amortization Provision for doubtful debts / bad debts written off

)LQDQFLDOLQIRUPDWLRQDERXWWKHEXVLQHVVVHJPHQWVIRUWKH\HDUHQGHG0DUFKLVDVIROORZV

Engineering ,7DQG%XVLQHVV 3URGXFWV DQG5 ' Total 6HUYLFHV 3ODWIRUPV VHUYLFHV 6HJPHQWUHYHQXHV /HVV,QWHUVHJPHQWUHYHQXH 1HWUHYHQXHRIRSHUDWLRQVIURPH[WHUQDOFXVWRPHUV 6HJPHQWUHVXOWV Finance cost Other Income 3UR¿WEHIRUHWD[ Tax expense 3UR¿WIRUWKH\HDU 6LJQL¿FDQWQRQFDVKLWHPV Depreciation and amortization 89 Provision for doubtful debts / bad debts written off

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

Segment revenue from customers by geographic area based on location of the customer is as follows:

LQFOXGHVUHYHQXHELOOHGWR,QGLDEDVHGFDSWLYHRIJOREDOFXVWRPHUV

1RVLQJOHFXVWRPHUUHSUHVHQWVRUPRUHRIWKH*URXS¶VWRWDOUHYHQXHIRUWKH\HDUVHQGHG0DUFKDQGUHVSHFWLYHO\

(PSOR\HHEHQH¿WV

7KH*URXSKDVFDOFXODWHGWKHYDULRXVEHQH¿WVSURYLGHGWRHPSOR\HHVDVVKRZQEHORZ $ 'H¿QHGFRQWULEXWLRQSODQVDQGVWDWHSODQV Superannuation Fund (PSOR\HU¶VFRQWULEXWLRQWR(PSOR\HHV6WDWH,QVXUDQFH (PSOR\HU¶VFRQWULEXWLRQWR(PSOR\HH3HQVLRQ6FKHPH 'XULQJWKH\HDUWKH&RPSDQ\DQGLWVVXEVLGLDULHVLQ,QGLDKDYHUHFRJQL]HGWKHIROORZLQJDPRXQWVLQWKHVWDWHPHQWRISUR¿WDQGORVV

7KH*URXSKDVFRQWULEXWHG൘FURUHV SUHYLRXV\HDU൘FURUHV WRZDUGVRWKHUIRUHLJQGH¿QHGFRQWULEXWLRQSODQV

% 'H¿QHGEHQH¿WSODQV D *UDWXLW\ E (PSOR\HU¶VFRQWULEXWLRQWRSURYLGHQWIXQG

Gratuity

The following table sets out the status of the gratuity plan :

6WDWHPHQWRISUR¿WDQGORVV

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

%DODQFH6KHHW

As at 0DUFK 0DUFK 'H¿QHGEHQH¿WREOLJDWLRQV Fair value of plan assets 1HWSODQOLDELOLW\ &XUUHQWGH¿QHGEHQH¿WREOLJDWLRQV 88 1RQFXUUHQWGH¿QHGEHQH¿WREOLJDWLRQV

&KDQJHVLQSUHVHQWYDOXHRIWKHGH¿QHGEHQH¿WREOLJDWLRQVDUHDVIROORZV

&KDQJHVLQIDLUYDOXHRIWKHSODQDVVHWVDUHDVIROORZV

The overall expected rate of return on assets is determined based on the market prices prevailing on that date, applicable to the SHULRGRYHUZKLFKWKHREOLJDWLRQLVWREHVHWWOHG

7KHSULQFLSDODVVXPSWLRQVXVHGLQGHWHUPLQLQJJUDWXLW\IRUWKH*URXS¶VSODQVDUHVKRZQEHORZ

As at 0DUFK 0DUFK Discount rate Estimated Rate of salary increases Employee Turnover Expected rate of return on assets

7KHHVWLPDWHVRIIXWXUHVDODU\LQFUHDVHVFRQVLGHUHGLQWKHDFWXDULDOYDOXDWLRQWDNHDFFRXQWRILQÀDWLRQVHQLRULW\SURPRWLRQDQG RWKHUUHOHYDQWIDFWRUVVXFKDVVXSSO\DQGGHPDQGLQWKHHPSOR\PHQWPDUNHW

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

'LVFRXQWUDWHDQGIXWXUHVDODU\HVFDODWLRQUDWHDUHWKHNH\DFWXDULDODVVXPSWLRQVWRZKLFKWKHGH¿QHGEHQH¿WREOLJDWLRQDUHSDUWLFXODUO\ VHQVLWLYH7KHIROORZLQJWDEOHVXPPDUL]HVWKHLPSDFWRQGH¿QHGEHQH¿WREOLJDWLRQDVDW0DUFKDULVLQJGXHWRLQFUHDVH GHFUHDVHLQNH\DFWXDULDODVVXPSWLRQVE\EDVLVSRLQWV

Salary 'LVFRXQWUDWH HVFDODWLRQUDWH Impact of increase Impact of decrease

7KHVHQVLWLYLW\DQDO\VLVSUHVHQWHGPD\QRWEHUHSUHVHQWDWLYHRIWKHDFWXDOFKDQJHLQWKHGH¿QHGEHQH¿WREOLJDWLRQVDVVHQVLWLYLWLHV KDYHEHHQFDOFXODWHGWRVKRZWKHPRYHPHQWLQGH¿QHGEHQH¿WREOLJDWLRQVLQLVRODWLRQDQGDVVXPLQJWKHUHDUHQRRWKHUFKDQJHV LQPDUNHWFRQGLWLRQV7KHUHKDYHEHHQQRFKDQJHVIURPWKHSUHYLRXV\HDUVLQWKHPHWKRGVDQGDVVXPSWLRQVXVHGLQSUHSDULQJWKH VHQVLWLYLW\DQDO\VHV 7KHGH¿QHGEHQH¿WREOLJDWLRQVDUHH[SHFWHGWRPDWXUHDIWHU0DUFKDVIROORZV

7KHZHLJKWHGDYHUDJHGXUDWLRQWRWKHSD\PHQWRIWKHVHFDVKÀRZVLV\HDUV (PSOR\HUV&RQWULEXWLRQWR3URYLGHQW)XQG The actuary has provided a valuation for provident fund liabilities on the basis of guidance issued by Actuarial Society of India based RQWKHDVVXPSWLRQPHQWLRQHGEHORZDQGWKHUHLVQRVKRUWIDOODVDW0DUFK 7KHGHWDLOVRIWKHIXQGDQGSODQDVVHWSRVLWLRQDUHJLYHQEHORZ

0DUFK 0DUFK Fair value of plan assets at the year end 3UHVHQWYDOXHRIEHQH¿WREOLJDWLRQDW\HDUHQG 1HWOLDELOLW\UHFRJQL]HGLQEDODQFHVKHHW UHIHUQRWH -

0DUFK 0DUFK *RYHUQPHQWRI,QGLD *2, ERQG\LHOG Remaining term of maturity 8 years 8 years Expected guaranteed interest rate

'XULQJWKH\HDUHQGHG0DUFKWKH*URXSKDVFRQWULEXWHG൘FURUHV SUHYLRXV\HDU൘FURUHV WRZDUGVHPSOR\HU¶V FRQWULEXWLRQWRSURYLGHQWIXQG

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH 5HODWHGSDUW\WUDQVDFWLRQV D 5HODWHGSDUWLHVZKHUHFRQWUROH[LVWV 5HIHUQRWHIRUOLVWRIVXEVLGLDULHVRIWKH&RPSDQ\ (PSOR\HHEHQH¿WWUXVWV Hindustan Instruments Limited Employees Provident Fund Trust HCL Consulting Limited Employees Superannuation Scheme HCL Comnet System and Services Limited Employees Provident Fund Trust +&/7HFKQRORJLHV(PSOR\HHV*URXS*UDWXLW\7UXVW HCL South Africa Share Ownership Trust HCL Technologies Stock Options Trust &L6XSSRUW6HUYLFHV(PSOR\HHV*UDWXLW\7UXVW 6DQNDOS6WRFN7UXVW DFTXLUHGGXULQJWKH\HDU 6DQNDOS6HPL&RQGXFWRU3ULYDWH/LPLWHG(PSOR\HHV*URXS7UXVW DFTXLUHGGXULQJWKH\HDU .H\0DQDJHPHQW3HUVRQQHO 0U6KLY1DGDU±&KDLUPDQDQG&KLHI6WUDWHJ\2I¿FHU 0U&9LMD\DNXPDU±3UHVLGHQWDQG&KLHI([HFXWLYH2I¿FHU 0U3UDWHHN$JJDUZDO±&KLHI)LQDQFLDO2I¿FHU ZHI2FWREHU 0U0DQLVK$QDQG±&RPSDQ\6HFUHWDU\ 0U$QLO&KDQDQD±&KLHI)LQDQFLDO2I¿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

E 5HODWHGSDUWLHVZLWKZKRPWUDQVDFWLRQVKDYHWDNHQSODFHGXULQJWKHFXUUHQW\HDU 2WKHUV 6LJQL¿FDQWLQÀXHQFH HCL Infosystems Limited HCL IT City Lucknow Private Limited HCL Avitas Private Limited HCL Infotech Limited 9DPD6XQGDUL,QYHVWPHQWV 'HOKL 3ULYDWH/LPLWHG 6KLY1DGDU8QLYHUVLW\ HCL Corporation Private Limited HCL Holding Private Limited SSN Investments (Pondi) Private Limited SSN Trust Naksha Enterprises Private Limited Shiv Nadar Foundation +&/,QV\V3WH/LPLWHG6LQJDSRUH FHDVHGWREHUHODWHGSDUW\IURP1RYHPEHU

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

6LJQL¿FDQWLQÀXHQFH 7UDQVDFWLRQVZLWKUHODWHGSDUWLHVGXULQJWKHQRUPDOFRXUVHRIEXVLQHVV

6LJQL¿FDQWLQÀXHQFH 2XWVWDQGLQJEDODQFHV As at 0DUFK 0DUFK Security deposits 8QELOOHGUHFHLYDEOH Trade receivables 5 Prepaid expenses Deferred contract cost &DSLWDODFFRXQWVSD\DEOH>LQFOXGHVVXSSOLHUFUHGLW@ Supplier Credit Liabilities for expenses Contract liabilities Trade payables 5LJKWRIXVHDVVHWV Lease liabilities

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

5HVHDUFKDQGGHYHORSPHQWH[SHQGLWXUH

&RPPLWPHQWVDQGFRQWLQJHQWOLDELOLWLHV

As at 0DUFK 0DUFK i) &DSLWDODQGRWKHUFRPPLWPHQWV &DSLWDOFRPPLWPHQWV Estimated amount of contracts remaining to be executed on capital account and not 558 provided for (net of advances) 8QFDOOHGOLDELOLW\RQRWKHULQYHVWPHQWVSDUWO\SDLG Capital commitment in limited liability partnership ii) &RQWLQJHQWOLDELOLWLHV Others (refer note below)

$ ZKROO\ RZQHG VXEVLGLDU\ µ:26¶ ZLWK D 96$7 /LFHQVH KDG UHFHLYHG D GHPDQG IURP 'HSDUWPHQW RI7HOHFRPPXQLFDWLRQV 'R7 LQ )HEUXDU\IRU)<DQG)<IRUDQDPRXQWRI൘FURUHVLQFOXGLQJSHQDOW\LQWHUHVWDQGLQWHUHVWRQSHQDOW\,WKDG UHFHLYHGSURYLVLRQDODVVHVVPHQWRUGHUVIRUDOOWKHSULRU\HDUVZLWKQRGHPDQG'HPDQGLVSULPDULO\GXHWR'R7LQFOXGLQJ,76HUYLFHV UHYHQXHVDQGUHODWHGH[FKDQJHJDLQVLQ$GMXVWHG*URVV5HYHQXH $*5 7KH:26KDGREWDLQHGVWD\LQDQGLWVSHWLWLRQLVSHQGLQJ DGMXGLFDWLRQDWWKH+RQ¶EOH7HOHFRP'LVSXWHV6HWWOHPHQWDQG$SSHOODWH7ULEXQDO ³7'6$7´ 7KH,76HUYLFHVEXVLQHVVKDGEHHQGHPHUJHG IURPWKH:26ZLWKHIIHFW$SULO7KH+RQ¶EOH6XSUHPH&RXUWKDVSURQRXQFHGLWVUXOLQJRQWKH$*5PDWWHUUHODWLQJWR8QL¿HG$FFHVV 6HUYLFH/LFHQVHRQ2FWREHU6XEVHTXHQWWRWKLVUXOLQJWKH&RPSDQ\KDVREWDLQHGOHJDORSLQLRQDQGLVRIWKHYLHZWKDWLWVKRXOG EHDEOHWRGHIHQGLWVSRVLWLRQLQWKHDERYHPDWWHU

7KH*URXSLVLQYROYHGLQYDULRXVODZVXLWVFODLPVDQGSURFHHGLQJVWKDWDULVHLQWKHRUGLQDU\FRXUVHRIEXVLQHVVWKHRXWFRPHRIZKLFKLV LQKHUHQWO\XQFHUWDLQ6RPHRIWKHVHPDWWHUVLQFOXGHVSHFXODWLYHDQGIULYRORXVFODLPVIRUVXEVWDQWLDORULQGHWHUPLQDWHDPRXQWVRIGDPDJHV 7KH *URXS UHFRUGV D OLDELOLW\ ZKHQ LW LV ERWK SUREDEOH WKDW D ORVV KDV EHHQ LQFXUUHG DQG WKH DPRXQW FDQ EH UHDVRQDEO\ HVWLPDWHG 6LJQL¿FDQWMXGJPHQWLVUHTXLUHGWRGHWHUPLQHERWKSUREDELOLW\DQGWKHHVWLPDWHGDPRXQW7KH*URXSUHYLHZVWKHVHSURYLVLRQVDWOHDVW TXDUWHUO\DQGDGMXVWVWKHVHSURYLVLRQVDFFRUGLQJO\WRUHÀHFWWKHLPSDFWRIQHJRWLDWLRQVVHWWOHPHQWVUXOLQJVDGYLFHRIOHJDOFRXQVHODQG XSGDWHGLQIRUPDWLRQ7KH*URXSEHOLHYHVWKDWWKHDPRXQWRUHVWLPDEOHUDQJHRIUHDVRQDEO\SRVVLEOHORVVZLOOQRWHLWKHULQGLYLGXDOO\RU LQWKHDJJUHJDWHKDYHDPDWHULDODGYHUVHHIIHFWRQLWVEXVLQHVVFRQVROLGDWHG¿QDQFLDOSRVLWLRQUHVXOWVRIWKH*URXSRUFDVKÀRZVZLWK UHVSHFWWRORVVFRQWLQJHQFLHVIRUOHJDODQGRWKHUFRQWLQJHQFLHVDVDW0DUFK

&KDQJHLQQRQFRQWUROOLQJLQWHUHVW

'XULQJWKH\HDUHQGHG0DUFKWRPHHWWKHUHTXLUHPHQWVRI%URDG%DVHG%ODFN(FRQRPLF(PSRZHUPHQW$FWRI6RXWK$IULFD QHFHVVDU\UHVWUXFWXULQJZDVGRQHDQG+&/HQWLWLHVDOORWWHGWKHLUVKDUHVWRJLYHHIIHFWLYHRZQHUVKLSLQDQHQWLW\LQ6RXWK$IULFD RSHUDWLQJHQWLW\ WRWUXVWVFUHDWHGIRUWKHEHQH¿WRIEODFNQDWLRQDOVDQGFRQVHTXHQWO\UHFRUGHGQRQFRQWUROOLQJLQWHUHVWDQGDQXSIURQW FKDUJHRI൘FURUHVLQFRQVROLGDWHGVWDWHPHQWRISUR¿WDQGORVV

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

$GGLWLRQDOLQIRUPDWLRQXQGHUJHQHUDOLQVWUXFWLRQVIRUWKHSUHSDUDWLRQRIFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRI6FKHGXOH,,,WRWKH &RPSDQLHV$FW

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH Parent HCL Technologies Limited India NA 6XEVLGLDULHV ,QGLDQ HCL Comnet Systems & India Services Limited HCL Comnet Limited India 8 8 Statestreet HCL Services India ,QGLD 3ULYDWH/LPLWHG HCL Eagle Limited India HCL Software Products 5 /LPLWHG IRUPHO\³+&/*OREDO India Processing Services Limited”) HCL Technologies Solutions India Limited &RQFHSW6LOLFRQ6\VWHPV 7 India Private Limited +&/7UDLQLQJ 6WDI¿QJ 8 India Services Private Limited &L6XSSRUW6HUYLFHV3ULYDWH 9 India Limited Sankalp Semiconductor India 9 9 Private Limited 6DQNJXM6HPLFRQGXFWRU India Private Limited Foreign +&/%HUPXGD/LPLWHG %HUPXGD HCL Technologies (Shanghai) China Limited +&/6LQJDSRUH3WH/LPLWHG Singapore +&/*UHDW%ULWDLQ/LPLWHG 8. +&/ 1HWKHUODQGV %9 Netherlands 7 7 +&/%HOJLXP19 %HOJLXP +&/6ZHGHQ$% Sweden +&/*PE+ *HUPDQ\ 8 8 +&/$XVWUDOLD6HUYLFHV3W\ Australia Limited HCL (New Zealand) Limited New Zealand 8 8 +&/+RQJ.RQJ6$5/LPLWHG +RQJ.RQJ 9 9 HCL Japan Limited Japan +&/$PHULFD,QF 86$ HCL Technologies Austria Austria 5 *PE+

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH +&/3RODQG6S]RR Poland HCL EAS Limited 8. +&/,QVXUDQFH%326HUYLFHV 8. 59 Limited $[RQ*URXS/LPLWHG 8. +&/&DQDGD,QF )RUPHO\ Canada ³+&/$[RQ7HFKQRORJLHV,QF´ HCL Technologies Solutions Switzerland *PE+ $[RQ6ROXWLRQV3W\/LPLWHG Australia Axon Solutions Limited 8. +&/7HFKQRORJLHV0DOD\VLD 6GQ%KG )RUPHO\³+&/$[RQ 0DOD\VLD 88 0DOD\VLD6GQ%KG´ $[RQ6ROXWLRQV6LQJDSRUH3WH Singapore 7 Limited $[RQ6ROXWLRQV 6KDQJKDL &R China Limited HCL Technologies (Proprietary) Ltd (Formely South Africa “HCL Axon (Proprietary) Limited”) +&/$UJHQWLQDVD Argentina +&/0H[LFR6GH5/ 0H[LFR HCL Technologies Romania Romania VUO +&/+XQJDU\.IW Hungary HCL Latin America Holding 86$ LLC +&/ %UD]LO 7HFKQRORJLDGD informacao EIRELI (Formely %UD]LO (9) (9) ³+&/ %UD]LO 7HFKQRORJLDGD LQIRUPDFDR/WGD´ HCL Technologies Denmark Denmark Aps HCL Technologies Norway AS Norway 59 59 37+&/7HFKQRORJLHV Indonesia 7 7 Indonesia Limited HCL Technologies Philippines Philippines ,QF HCL Technologies South Africa South Africa (Proprietary) Limited HCL Arabia LLC Saudi Arabia HCL Technologies France SAS France 97 Filial Espanola De HCL Spain 7HFKQRORJLHV6/

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH Anzospan Investments Pty South Africa Limited +&/,QYHVWPHQWV 8. /LPLWHG 8. +&/$PHULFD6ROXWLRQV,QF 86$ 9 9 55 HCL Technologies Chile Spa Chile +&/7HFKQRORJLHV8./LPLWHG 8. 6WDWHVWUHHW+&/+ROGLQJ8. 57 8. /LPLWHG Statestreet HCL Services 58 Philippines 3KLOOLSLQHV ,QF 59 +&/7HFKQRORJLHV%9 Netherlands HCL (Ireland) Information Ireland 87 87 Systems Limited +&/7HFKQRORJLHV*HUPDQ\ *HUPDQ\ *PEK +&/7HFKQRORJLHV%HOJLXP %HOJLXP %9%$ +&/7HFKQRORJLHV6ZHGHQ$% Sweden HCL Technologies Finland Oy Finland +&/7HFKQRORJLHV,WDO\63$ Italy HCL Technologies Columbia Columbia 6$6 +&/7HFKQRORJLHV0LGGOH(DVW 8$( )=//& +&/,VWDQEXO%LOLVLP Turkey 7HNQRORMLOHUL/LPLWHG6LUNHWL +&/7HFKQRORJLHV*UHHFH *UHHFH 6LQJOH0HPEHU3& +&/7HFKQRORJLHV6$ 9HQH]XHOD +&/7HFKQRORJLHV%HLMLQJ China &R/WG HCL Technologies Luxembourg /X[HPERXUJ6DUO HCL Technologies Egypt Egypt Limited HCL Technologies Estonia OÜ Estonia HCL Technologies (Thailand) 75 Thailand /WG HCL Technologies Czech Czech 7 7 7 5HSXEOLFVUR Republic +&/0XVFDW7HFKQRORJLHV 77 Oman 9 //& 78 Powerteam, LLC 86$ 79 Point To Point Limited 8. Point To Point Products 8. Limited

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH HCL Technologies Lithuania Lithuania 5 5 8$% HCL Technologies (Taiwan) China /WG *HRPHWULF$PHULFDV,QF 86$ +&/$VLD3DFL¿F3WH/WG )RUPHO\³*HRPHWULF$VLD Singapore 3DFL¿F3WH/WG´ 85 *HRPHWULF(XURSH*PE+ *HUPDQ\ 89 (7) (7) *HRPHWULF&KLQD,QF China 87 *HRPHWULF65/ Romania 88 *HRPHWULF6$6 France 89 %XWOHU$PHULFD$HURVSDFH//& 86$ 8UEDQ)XO¿OOPHQW6HUYLFHV//& 86$ Datawave (An HCL Technologies Company) Scotland (5) (5) Limited (formely known as “ETL Factory Limited”) HCL Technologies Corporate 8. Services Limited 7HOHU[0DUNHWLQJ,QF 86$ 79 79 &L(XURSH(RRG %XOJDULD (5) 7 7 95 &L 8. /LPLWHG 8. &L-DSDQ*. Japan &L6HUYLFHV 7HFKQRORJLHV 97 China 'DOLDQ &R/WG HCL Technologies SEP 98 86$ Holdings Inc Actian Corporation (and 99 86$ including its subsidiaries) Honisgberg & Duvel 86$ Corporation Honisgberg & Duvel *HUPDQ\ 'DWHQWLFKQLN*0%+ + '%XVLQHVV6HUYLFHV*PE+ *HUPDQ\ + ',76ROXWLRQV*PE+ *HUPDQ\ H&D Training und Consulting *HUPDQ\ *PE+ H&D IT Professional Services *HUPDQ\ *PE+ TPRLW*PE+ *HUPDQ\ H&D Services for Engineering *HUPDQ\ *PE+ &$7,6*PE+ *HUPDQ\ H&D IT Automotive Services *HUPDQ\ *PE+

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH &$0DQDJHPHQW6HUYLFHV *HUPDQ\ *PE+ H&D ITAS Infrastructure *HUPDQ\ 6HUYLFHV*PE+ H&D ITAS Application Services *HUPDQ\ *PE+ H&D ITAS Client Services *HUPDQ\ (5) *PE+ + ',7$66XG*PE+ *HUPDQ\ + ',QWHUQDWLRQDO*PE+ *HUPDQ\ Honisgberg & Duvel Czech 'DWHQWHFKQLN&]HFKVUR Republic +&/7HFKQRORJLHV9LHWQDP 9LHWQDP Company Limited +&/*XDWHPDOD6RFLHGDG *XDWHPDOD Anonima 6DQNDOS6HPLFRQGXFWRU,QF Canada 7 6DQNDOS86$,QF 86$ 7 (5) (5) Sankalp Semiconductor *HUPDQ\ *PE+ 6DQNDOS6HPLFRQGXFWRU6'1 0DOD\VLD %+' H C L Technologies Lanka Sri Lanka (Private) Limited +&/7(&+12/2*,(6 Trinidad and 75,1,'$'$1'72%$*2 Tobago /,0,7(' +&/7HFKQRORJLHV$]HUEDLMDQ $]HUEDLMDQ Limited Liability Company +&/7HFKQRORJLHV%XOJDULD %XOJDULD EOOD +&/7HFKQRORJLHV 9LHWQDP 9LHWQDP Company Limited Total Non controlling interest &RQVROLGDWLRQDGMXVWPHQWV &RQVROLGDWHG1HWDVVHWV3UR¿WDIWHUWD[

1RWH'LYLGHQGUHFHLYHGIURPVXEVLGLDULHVKDVEHHQH[FOXGHGIURPSUR¿WV 7KH*URXSKDVHTXLW\LQWHUHVWRIDQGGLYLGHQGULJKWVDQGFRQWURO

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

$GGLWLRQDOLQIRUPDWLRQXQGHUJHQHUDOLQVWUXFWLRQVIRUWKHSUHSDUDWLRQRIFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVRI6FKHGXOH,,,WRWKH &RPSDQLHV$FW

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH Parent HCL Technologies Limited India NA 6XEVLGLDULHV ,QGLDQ HCL Comnet Systems & India 5 5 Services Limited HCL Comnet Limited India Statestreet HCL Services India ,QGLD 3ULYDWH/LPLWHG HCL Eagle Limited India +&/*OREDO3URFHVVLQJ 5 India 5 5 Services Limited HCL Technologies Solutions India Limited &RQFHSW6LOLFRQ6\VWHPV 7 India 9 Private Limited +&/7UDLQLQJ 6WDI¿QJ 8 India Services Private Limited &L6XSSRUW6HUYLFHV3ULYDWH 9 India 8 5 5 Limited Foreign +&/%HUPXGD/LPLWHG %HUPXGD HCL Technologies (Shanghai) China Limited +&/6LQJDSRUH3WH/LPLWHG Singapore 58 58 +&/*UHDW%ULWDLQ/LPLWHG 8. +&/ 1HWKHUODQGV %9 Netherlands +&/%HOJLXP19 %HOJLXP +&/6ZHGHQ$% Sweden +&/*PE+ *HUPDQ\ HCL Italy SRL Italy +&/$XVWUDOLD6HUYLFHV3W\ Australia Limited HCL (New Zealand) Limited New Zealand +&/+RQJ.RQJ6$5/LPLWHG +RQJ.RQJ HCL Japan Limited Japan +&/$PHULFD,QF 86$ HCL Technologies Austria Austria 9 9 *PE+ +&/3RODQG6S]RR Poland 5 HCL EAS Limited 8. 75

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH +&/,QVXUDQFH%326HUYLFHV 8. 7 7 Limited $[RQ*URXS/LPLWHG 8. +&/$[RQ7HFKQRORJLHV,QF Canada HCL Technologies Solutions Switzerland *PE+ $[RQ6ROXWLRQV3W\/LPLWHG Australia Axon Solutions Limited 8. +&/$[RQ0DOD\VLD6GQ%KG 0DOD\VLD $[RQ6ROXWLRQV6LQJDSRUH3WH Singapore 5 Limited $[RQ6ROXWLRQV 6KDQJKDL &R China Limited HCL Axon (Proprietary) Limited South Africa +&/$UJHQWLQDVD Argentina 8 +&/0H[LFR6GH5/ 0H[LFR (7) (7) HCL Technologies Romania Romania VUO +&/+XQJDU\.IW Hungary HCL Latin America Holding 86$ LLC +&/ %UD]LO 7HFKQRORJLDGD %UD]LO (5) (5) LQIRUPDFDR/WGD HCL Technologies Denmark Denmark Aps HCL Technologies Norway AS Norway 37+&/7HFKQRORJLHV Indonesia Indonesia Limited HCL Technologies Philippines Philippines ,QF HCL Technologies South Africa South Africa (Proprietary) Limited HCL Arabia LLC Saudi Arabia HCL Technologies France SAS France Filial Espanola De HCL Spain 7HFKQRORJLHV6/ Anzospan Investments Pty South Africa Limited +&/,QYHVWPHQWV 8. /LPLWHG 8. +&/$PHULFD6ROXWLRQV,QF 86$ 5 5 HCL Technologies Chile Spa Chile 55 +&/7HFKQRORJLHV8./LPLWHG 8. 6WDWHVWUHHW+&/+ROGLQJ8. 8. /LPLWHG

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH Statestreet HCL Services 57 Philippines 3KLOOLSLQHV ,QF 58 +&/7HFKQRORJLHV%9 Netherlands HCL (Ireland) Information 59 Ireland Systems Limited +&/7HFKQRORJLHV*HUPDQ\ *HUPDQ\ *PEK +&/7HFKQRORJLHV%HOJLXP %HOJLXP 5 5 %9%$ +&/7HFKQRORJLHV6ZHGHQ$% Sweden 598 HCL Technologies Finland Oy Finland +&/7HFKQRORJLHV,WDO\63$ Italy HCL Technologies Columbia Columbia 6$6 +&/7HFKQRORJLHV0LGGOH(DVW 8$( )=//& +&/,VWDQEXO%LOLVLP Turkey 7HNQRORMLOHUL/LPLWHG6LUNHWL +&/7HFKQRORJLHV*UHHFH *UHHFH 7 6LQJOH0HPEHU3& +&/7HFKQRORJLHV6$ 9HQH]XHOD +&/7HFKQRORJLHV%HLMLQJ China 5 5 &R/WG HCL Technologies Luxembourg /X[HPERXUJ6DUO HCL Technologies Egypt Egypt 7 Limited HCL Technologies Estonia OÜ Estonia HCL Technologies (Thailand) Thailand /WG HCL Technologies Czech Czech 75 9 9 5HSXEOLFVUR Republic +&/0XVFDW7HFKQRORJLHV Oman //& 77 Powerteam, LLC 86$ 78 Point To Point Limited 8. Point To Point Products 79 8. Limited HCL Technologies Lithuania Lithuania 7 8$% HCL Technologies (Taiwan) China /WG *HRPHWULF$PHULFDV,QF 86$ 8 8 *HRPHWULF$VLD3DFL¿F3WH/WG Singapore 8 8 *HRPHWULF(XURSH*PE+ *HUPDQ\

Consolidated Financial Statements 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

1HW$VVHWVLH Share in other Share in total 6KDUHLQSUR¿W 3HUFHQWDJH WRWDODVVHWVPLQXV FRPSUHKHQVLYH FRPSUHKHQVLYH DQGORVV KROGLQJ S. Country of OLDELOLWLHVDVDW LQFRPH LQFRPH 1DPHRIWKH(QWLW\ as at No. LQFRUSRUDWLRQ 0DUFK 0DUFK As % of As % of As % of As % of $PRXQW $PRXQW $PRXQW $PRXQW FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH FRQVROLGDWH 85 *HRPHWULF&KLQD,QF China *HRPHWULF65/ Romania 87 *HRPHWULF6$6 France 5 5 88 %XWOHU$PHULFD$HURVSDFH//& 86$ 89 +&/0RUWJDJH+ROGLQJ//& 86$ 8UEDQ)XO¿OOPHQW6HUYLFHV//& 86$ Datawave (An HCL Technologies Company) Scotland Limited (formely known as “ETL Factory Limited”) HCL Technologies Corporate 8. Services Limited 7HOHU[0DUNHWLQJ,QF 86$ &L(XURSH(RRG %XOJDULD 95 &L 8. /LPLWHG 8. &L-DSDQ*. Japan &L6HUYLFHV 7HFKQRORJLHV 97 China 'DOLDQ &R/WG HCL Technologies SEP 98 86$ (57) (57) Holdings Inc Actian Corporation (and 99 86$ including its subsidiaries) Honisgberg & Duvel 86$ Corporation Honisgberg & Duvel *HUPDQ\ 5 5 'DWHQWLFKQLN*0%+ + '%XVLQHVV6HUYLFHV*PE+ *HUPDQ\ + ',76ROXWLRQV*PE+ *HUPDQ\ H&D Training und Consulting *HUPDQ\ *PE+ H&D IT Professional Services *HUPDQ\ *PE+ TPRLW*PE+ *HUPDQ\ H&D Services for Engineering *HUPDQ\ *PE+ FDWLV*PE+ *HUPDQ\ H&D IT Automotive Services *HUPDQ\ *PE+ FD0DQDJHPHQW6HUYLFHV *HUPDQ\ *PE+ H&D ITAS Infrastructure *HUPDQ\ (5) 6HUYLFHV*PE+ H&D ITAS Application Services *HUPDQ\ *PE+

$QQXDO5HSRUW 1RWHVWRFRQVROLGDWHG¿QDQFLDOVWDWHPHQWVIRUWKH\HDUHQGHG0DUFK $OODPRXQWVLQFURUHVRI৷H[FHSWVKDUHGDWDDQGDVVWDWHGRWKHUZLVH

6XEVHTXHQWHYHQWV 7KH%RDUGRI'LUHFWRUVLQWKHLUPHHWLQJRQ0D\UHFRPPHQGHGD¿QDOGLYLGHQGRI൘SHUHTXLW\VKDUHIRUWKH¿QDQFLDO\HDUHQGHG 0DUFK7KLVSD\PHQWLVVXEMHFWWRWKHDSSURYDORIVKDUHKROGHUVLQWKH$QQXDO*HQHUDO0HHWLQJRIWKH&RPSDQ\

Consolidated Financial Statements 100% 100% (in Extent of percentage) shareholding

- 100% - 100% - 100% - 100% - 100% - - 100% 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - - 100% - - 100% - 100% - 100% - 100% (Amount in ₹ Thousand) AOC-I] Dividend Proposed after 409,366 (Loss) Profit / taxation 10,397,000

for 1,842 (943) taxation Provision 2,291,000 7,216 1,988 5,228 409,366 (Loss) before Profit / taxation 12,688,000 - - 899 - 268,630 (17,674) (23,487) 5,813 262,692 27,927 5,913 22,014 1,008,630 60,764 18,952 41,812 1,611,609 1,611,609 107,098 29,953 77,145 1,794,325 79,472 12,237 67,235 1,026,138 (9,718) 197 (9,915) 1,163,090 89,614 5,450 84,164 1,602,350 116,057 40,322 75,735 4,390,478 352,326 77,396 274,930 7,044,773 185,783 16,136 169,647 1,888,980 99,293 24,691 74,602 2,645,583 112,357 38,075 74,282 2,474,625 147,710 40,603 107,107 Turnover Turnover 11,008,000 11,008,000 443,000 231,000 212,000 252,888,000 18,489,721 876,582 265,198 611,384 10,808,446 795,856 134,034 661,822 ------452,000 (other than in subsidiaries) Investments Total Total Liabilities Total Assets 185,081,000 100,336,000 5,813 59,971,366 48,043,730 Surplus 22,620,620 58,003,156 1,406,979 Reserves & Act, 2013, read with rule 5 of Companies (Accounts) Rules, 2014 in the prescribed Form 9,500 2,712,500 4,104,400 1,382,400 1,993,676 913,700 27,700 74,400 (46,700) 1,061 456,266 686,486 229,159 432,974 53,877 15,700 4,086 11,614 1,000 128,494 132,720 3,226 130,726 12,800 16,176 554,723 525,747 175,914 335,617 (73,665) 83,927 (157,592) 10,501 48,903 60,101 697 43,733 17,513 (62,913) 250,476 295,876 101,036 437,082 (289,726) 21,910 (311,636) Share 252,216 915,033 3,213,350 2,046,101 Capital 11,921,823 11,921,823 33,975,557 1.00 1.00 1.00 9.76 1,885 468,278 735,501 265,338 1.00 1.00 1.00 7.47 747 923,539 1,962,873 1,038,587 75.67 75.67 530,000 84,215,000 75.67 46.04 23,021 1,973,617 6,570,594 4,573,956 82.74 29,785 141,145 696,065 525,135 82.74 39,082 7,062,617 7,979,540 877,841 53.03 107,909 2,584,365 5,711,182 3,018,908 82.74 1,502 399,386 2,676,101 2,275,213 82.74 295,212 187,072 801,698 319,414 82.74 2,126 755,078 1,220,118 462,914 balance Exchange respective sheet date Rate as on

INR INR INR INR INR INR JPY JPY 0.70 153,000 640,000 5,607,000 4,814,000 AUD NZD 44.87 2,083 252,822 557,557 302,652 GBP GBP 93.54 988,600 2,382,108 7,097,799 3,727,091 TWD 2.50 27,510 30,206 298,619 240,903 Currency Reporting period ended Financial 31-Mar-20 31-Mar-20 31-Mar-20 USD 31-Mar-20 EUR 31-Mar-20 EUR 31-Mar-20 31-Mar-20 HKD 31-Mar-20 PLN 18.21 31-Mar-20 USD 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 EUR 31-Mar-20 EUR Date of 1-Jul-08 31-Mar-20 1-Jan-03 31-Mar-20 SGD 7-Jan-97 5-Mar-98 6-Mar-98 31-Mar-20 EUR 8-Aug-01 23-Jul-07 31-Dec-19 CNY 10.25 157,026 431,030 1,930,983 1,342,927 28-Jan-98 31-Mar-20 17-Jan-95 12-Jan-98 31-Mar-20 SEK 14-Sep-11 11-Sep-08 31-Mar-20 USD 22-Feb-99 10-Feb-98 29-Feb-16 23-Feb-98 24-Aug-99 10-Dec-97 21-May-98 31-May-07 acquisition / incorporation Technologies Lithuania UABTechnologies 26-Aug-16 Name of the Subsidiary Company HCL Comnet Systems & Services HCL Limited Comnet Limited HCL HCL Bermuda Limited HCL HCL Australia Services Pty. Limited Australia Services Pty. HCL HCL Technologies Austria GmbH Technologies HCL 1-Mar-97 Poland Sp.z.o.o HCL HCL HCL Technologies (Shanghai) Technologies HCL Limited HCL Technologies Solutions Technologies HCL Limited HCL Software Products Limited HCL Global Processing (Formerly “HCL Services Limited”) HCL Japan Limited HCL HCL Singapore Pte. Limited HCL HCL Technologies (Taiwan) Ltd. (Taiwan) Technologies HCL 15-Dec-16 HCL Training & Staffing Services Training HCL Private Limited HCL Great Britain Limited HCL HCL (Netherlands) BV HCL HCL Belgium NV HCL HCL Sweden AB Sweden HCL HCL GmbH HCL 1 2 3 4 5 Eagle Limited HCL 6 7 8 9 11 18 23 21 14 (New Zealand) Limited HCL 15 Hong Kong SAR Limited HCL 5-Jun-98 22 19 16 17America Inc. HCL 20 24 EAS Limited HCL 10 12 13 S.No Statement containing the salient features of financial statements subsidiaries/ associates companies [Pursuant to first proviso sub-section (3) of section 129 the Companies Annual Report 2019-20 318 48% 100% 100% 100% (in Extent of percentage) shareholding

- 36% - 100% - 100% - 100% - 100% - - 100% - 100% - 100% - - - 100% - - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% (Amount in ₹ Thousand) Dividend Proposed 37,744 after (12,273) (Loss) Profit / taxation

- 299

for taxation Provision (Loss) before Profit / taxation 2,305,674 60,055 2,245,619 - 42,234 13,920 3,910 10,010 28,626 2,250 400 1,850 362,798 (8,401) (1,200) (7,201) 653,086 54,730 9,039 45,691 229,260 (27,776) (5,510) (22,266) 138,548 (11,974) 144,165 11,161 9,885 1,276 437,696 76,718 19,363 57,355 4,921,155 175,596 142,545 33,051 9,190,707 399,428 139,088 260,340 2,760,682 117,196 8,656 108,540 4,553,257 726,042 137,677 2,685,833 588,365 217,898 46,024 171,874 1,984,523 37,744 2,656,306 244,089 90,812 4,155,736 153,277 (83,329) 132,169 (215,498) 2,934,565 120,426 6,457,345 2,208 322,895 118,218 71,213 251,682 9,056,039 700,342 154,124 546,218 3,014,690 322,328 49,489 272,839 Turnover Turnover 12,908,900 954,800 294,700 660,100 ------(other than in subsidiaries) Investments 6,280 Total Total Liabilities Total Assets Surplus Reserves & 2,068 4,674 222,418 215,676 24,177 (33,139) 365,758 374,720 48,256 62,014 529,234 418,964 116,021 116,021 10,934 531,877 404,922 Share Capital 3.77 172,304 47,319 2,981,796 2,762,173 1.18 0.23 0.00 1.48 403,335 907,813 2,634,830 1,323,682 11.07 11.07 36,192 926,968 2,858,647 1,895,487 82.74 208,161 1,120,280 5,306,225 3,977,784 53.03 5,303 (63,571) 74,040 132,308 75.67 1,323,835 11,969 1,718,534 382,730 balance Exchange respective sheet date Rate as on

IDR ZAR 4.24 368,663 1,377,510 3,208,519 1,462,346 ARS ZAR 4.24 1,128,128 187,938 1,322,346 SAR 19.02 CHF 78.32 9,398 253,138 1,540,835 1,278,299 HUF GBP GBP 93.54 94 5,223,668 9,124,729 3,900,967 GBP GBP 93.54 758,545 (107,351) 1,550,972 899,778 GBP GBP 93.54 63,424 18,209,165 18,277,597 5,008 CAD 53.06 11,000 3,787,600 7,761,100 3,962,500 NOK 7.22 21,604 1,734,149 3,442,092 1,686,339 MXN Currency Reporting period ended Financial 31-Mar-20 EUR 31-Mar-20 31-Mar-20 31-Mar-20 SGD 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 PHP 31-Mar-20 Date of 9-Jun-10 31-Mar-20 1-Sep-08 31-Mar-20 7-May-11 31-Dec-19 27-Jul-09 25-Jun-09 31-Dec-19 23-Jun-10 31-Mar-20 DKK 30-Mar-09 31-Mar-20 USD 15-Dec-08 15-Dec-08 15-Dec-08 31-Dec-19 MYR 15-Dec-08 17.44 15-Dec-08 383,737 31-Dec-19 1,509,540 CNY 2,534,765 641,488 10.25 21,214 1,067,419 2,904,967 1,816,334 15-Dec-08 15-Dec-08 15-Dec-08 30-Dec-08 31-Dec-19 BRL 17.75 541,499 (254,150) 3,018,177 2,730,828 13-Aug-10 14-Sep-10 12-May-09 acquisition / incorporation Arabia LLC Name of the Subsidiary Company HCL Insurance BPO Services Limited HCL Solutions GmbH Technologies HCL Axon Solutions Limited Mexico S. de R.L. HCL HCL Technologies Romania s.r.l.Technologies HCL 28-May-09 31-Dec-19 RON 16.74 5,908 60,453 493,768 427,407 HCL Technologies Malaysia Technologies HCL Axon Sdn. Bhd. (Formerly “HCL Malaysia Sdn. Bhd.”) Axon Solutions Singapore Pte. Limited Axon Solutions (Shanghai) Co. Limited Axon Group Limited Canada Inc. (Formerly “HCL HCL Inc.”) Technologies Axon HCL Technologies (Proprietary) Technologies HCL Axon Ltd (Formerly “HCL (Proprietary) Limited”) (Note 10) HCL Latin America Holding LLC Latin HCL HCL (Brazil) Technologia da Technologia (Brazil) HCL informacao EIRELI (Formerly da Technologia (Brazil) “HCL informacao Ltda.”) PT. HCL Technologies Indonesia Technologies HCL PT. Limited HCL Technologies South Africa South Technologies HCL (Proprietary) Limited (Note 10) 25 45 HCL 46 France SASTechnologies HCL 7-Mar-11 36 29 30 31 32 37 Hungary Kft HCL 26 27 34Argentina s.a. HCL 33 38 39 40Apps Denmark Technologies HCL 41AS Norway Technologies HCL 28 35 42 43 Philippines Inc.Technologies HCL 24-Nov-10 44 S.No

319 Statement under Section 129 70% 100% 100% (in Extent of percentage) shareholding

- - - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - - - 100% 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% (Amount in ₹ Thousand) Dividend Proposed 5,985 1,368 29,164 after (Loss) Profit / taxation 2,023,024

- - - 638

for taxation Provision (Loss) before Profit / taxation 2,023,024 - 9,733 (3,988) (169) (3,819) 98,899 148,862 27,012 121,850 39,374 5,985 29,238 2,006 120,819 14,672 781 13,891 256,539 34,612 9,615 24,997 657,558 74,354 21,397 52,957 105,216 5,804 1,316 4,488 128,517 12,498 1,888 10,610 646,748 24,471 10,377 14,094 165,948 13,643 39,974 (26,331) 624,061 29,164 230,469 3,928 2,215 1,713 103,814 3,520 1,212 2,308 2,241,083 104,630 26,158 78,472 6,931,000 129,100 36,100 93,000 9,496,455 432,306 110,276 322,030 2,086,084 98,359 25,124 73,235 6,632,160 1,037,749 129,071 908,678 2,867,497 60,266 19,634 40,632 5,069,195 316,424 90,484 225,940 Turnover Turnover 14,492,511 14,492,511 808,179 216,560 591,619 11,018,186 11,018,186 867,110 173,694 693,416 32,793,146 2,339,658 516,065 1,823,593 ------(other than in subsidiaries) Investments Total Total Liabilities Total Assets 1,363 19,267 17,876 139,300 3,268,700 3,128,600 Surplus Reserves & 800 150 14,782 19,040 4,108 45,270 63,903 331,864 222,691 57,226 202,108 740,018 480,684 16,759 (84,536) 234,770 302,547 Share Capital 4.81 22,364 9,864 181,864 149,636 2.31 1.00 0.10 0.00 28 7.47 10,315 7,844,081 20,257,535 12,403,139 0.02 11.52 11.52 1,152 78,417 313,288 233,719 82.74 24,820 215,784 1,774,146 1,533,542 75.67 3,008,999 190,661 7,286,143 4,086,483 75.67 82.74 8,273 899,658 4,239,248 3,331,317 82.74 16,547 (13,446) 113,948 110,847 82.74 4,137 38,043 75,889 33,709 82.74 8,273 774,866 2,851,910 2,068,771 82.74 82.74 8,273 1,502,222 8,273 12,247,910 10,737,415 28,320 2,113,509 2,076,916 82.74 8,273 1,214,344 11,468,475 10,245,858 82.74 234,967 605,310 3,413,213 2,572,936 20.59 75,138 45,917 627,965 506,910 82.74 36,486 15,985 153,131 100,660 balance Exchange respective sheet date Rate as on

INR TRY THB ZAR 4.24 260,352 1,155,462 1,674,598 258,784 VES AED GBP GBP 93.54 7,304,730 3,654,000 44,284,110 33,325,380 334,890 52,433,250 1,715,780 223,570 1,492,210 OMR 196.46 34,125 37,860 154,117 82,132 Currency Reporting period ended Financial 31-Mar-20 USD 31-Mar-20 31-Mar-20 EGP 31-Mar-20 EUR 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 EUR 31-Mar-20 EUR 31-Mar-20 31-Mar-20 EUR 31-Mar-20 EUR 31-Mar-20 SEK 31-Mar-20 EUR 31-Mar-20 EUR 31-Mar-20 31-Mar-20 31-Mar-20 EUR 31-Dec-19 CLP Date of 12-Jan-11 31-Mar-20 EUR 15-Oct-15 29-Oct-13 26-Jun-12 31-Mar-20 USD 10-Jun-13 15-Mar-11 12-Feb-15 20-Nov-14 19-Sep-13 31-Mar-20 EUR 28-Aug-15 31-Dec-19 CZK 3.15 104,722 120,011 1,075,278 850,545 19-Aug-14 30-Sep-14 30-Sep-14 acquisition / incorporation Technologies Egypt LimitedTechnologies 22-Mar-15 Name of the Subsidiary Company Filial Espanola De HCL Filial Espanola De HCL S.L Technologies Anzospan Investments Pty Limited (Note 10) HCL Technologies B.V. Technologies HCL S.A. Technologies HCL Luxembourg S.a r.l Technologies HCL Concept2Silicon Systems Private Limited HCL Technologies Estonia OÜTechnologies HCL 8-Jun-15 HCL Technologies (Thailand) Ltd.Technologies HCL 10-Jun-15 HCL Technologies Czech Republic Czech Republic Technologies HCL s.r.o. HCL (Ireland) Information Systems HCL Limited HCL Technologies Columbia S.A.STechnologies HCL 6-Aug-14 31-Dec-19 COP HCL Technologies Middle East Technologies HCL FZ-LLC HCL Istanbul Bilisim Teknolojileri Teknolojileri Istanbul Bilisim HCL Limited Sirketi HCL Technologies Greece Single Technologies HCL Member P.C 47 49 Investments (UK) Limited HCL 9-Nov-11 50America Solutions Inc. HCL 48 51 Chile Spa Technologies HCL 67 HCL 68 69 70 52 UK LimitedTechnologies HCL 20-Aug-13 65 Beijing Co. LtdTechnologies HCL 6-Feb-15 31-Dec-19 CNY 10.25 64,802 64,738 771,125 641,585 54 71 L.L.C.Technologies Muscat HCL 17-Dec-15 53 55GmbhGermany Technologies HCL 56 21-Nov-13 Belgium BVBATechnologies HCL 25-Nov-13 72 66 57AB Sweden Technologies HCL 18-Dec-13 58 Finland OyTechnologies HCL 14-Jan-14 59 Italy S.P.ATechnologies HCL 29-Jul-14 60 61 62 63 64 S.No

Annual Report 2019-20 320 100% 100% 100% 100% 100% 100% 100% (in Extent of percentage) shareholding

- 100% - 80% - 100% - - - - - 100% - 100% - 100% - 100% - 100% - 100% - 100% - 100% - - 100% - 100% - 100% - 100% - - - 100% - 100% (Amount in ₹ Thousand) Dividend Proposed - (41) 34,177 64,756 (4,476) after (Loss) Profit / taxation

- - - - -

for 11,827 11,827 104,310 taxation Provision - (41) (4,768) (988) (3,780) (1,209) (239) (970) (38,966) (29,490) (9,476) (Loss) before Profit / taxation - - - - - 91,390 9,689 2,887 6,802 18,531 1,403 267 1,136 87,081 14,534 2,386 12,148 73,175 64,756 (2,692) 34,177 332,541 47,675 12,134 35,541 233,936 16,750 3,182 13,568 998,692 39,731 8,031 31,700 826,515 (65,998) (41,066) (24,932) 455,244 33,171 8,483 24,688 5,568,632 269,604 74,279 195,325 4,797,445 790,885 62,696 728,189 3,575,503 130,103 185,548 (55,445) 5,923,281 282,294 41,521 240,773 1,352,273 (4,476) 1,237,395 16,261 3,097 13,164 1,862,534 116,137 Turnover Turnover 13,504,409 395,723 98,766 296,957 ------(other than in subsidiaries) Investments Total Total Liabilities 268 30 Total Assets 34,601,056 34,601,056 - 4,705 10,502 5,797 14,828 37,814 22,986 62,304 163,360 101,056 87,312 99,357 12,039 973,923 1,755,811 781,888 273,320 500,979 227,648 Surplus 11,923,839 11,923,839 16,101,715 4,177,875 Reserves & - - - - 1 6 11 500 (262) 15,421 663,556 832,548 153,571 321,209 634,740 129,139 19,544 109,595 Share 393,693 4,655,822 7,291,211 2,241,696 Capital 1 0.66 - 1.00 1.48 127,323 185,921 327,094 13,850 1.00 1.00 71.36 75.67 95 2,838,261 3,875,839 1,037,483 82.74 201,625 19,217 494,094 273,252 82.74 1,162,430 (889,332) 813,713 540,615 75.67 912,726 196,331 2,021,555 75.67 912,498 53.03 5,303 319,858 848,026 522,865 71.36 788,503 (392,642) 991,076 595,215 75.67 71.36 142 2,377,815 5,107,874 2,729,917 balance Exchange respective sheet date Rate as on

INR INR INR USD USD GBP GBP 93.54 GBP GBP 93.54 598,253 (4,761) 597,723 4,231 GBP GBP 93.54 15,390 88,111 104,793 1,292 GBP GBP 93.54 USD Currency Reporting period ended Financial 31-Mar-20 USD 31-Mar-20 31-Mar-20 USD 31-Mar-20 31-Mar-20 31-Mar-20 USD 31-Dec-19 CNY 10.25 20,098 279,509 307,761 8,154 31-Dec-19 31-Dec-19 JPY 31-Dec-19 GBP 94.1 31-Dec-19 RON 16.74 31-Dec-19 CNY 10.25 33,638 9,761 214,438 171,039 31-Dec-19 31-Dec-19 BGN 40.92 6,179 511,119 1,193,047 675,749 Date of 6-Apr-18 6-Apr-18 1-Apr-16 31-Mar-20 EUR 1-Apr-16 31-Mar-20 EUR 1-Apr-16 31-Mar-20 USD 6-Apr-18 1-Apr-16 31-Mar-20 SGD 1-Apr-16 1-Apr-16 6-Apr-18 31-Mar-20 6-Apr-18 6-Apr-18 6-Jan-12 31-Mar-20 9-Dec-11 5-Mar-18 1-Sep-17 28-Oct-15 22-Jan-16 31-Mar-20 22-Jan-16 31-Mar-20 20-Jun-13 31-Mar-20 PHP 28-Mar-18 30-Dec-14 acquisition / incorporation Name of the Subsidiary Company C3i Services & Technologies Technologies C3i Services & (Dalian) Co., Ltd HCL Technologies SEP Holdings SEP Technologies HCL Inc Statestreet HCL Holding UK Statestreet HCL Limited (Note 7) Statestreet HCL Services (India) Statestreet HCL Private Limited (Note 7) Geometric Americas, Inc. Geometric C3i (UK) Limited # Statestreet HCL Services Statestreet HCL (Philippines) Inc. (Note 7) HCL Asia Pacific Pte Ltd (Formerly HCL Asia Pacific Pte. Ltd”) “Geometric Geometric SRL Foundation HCL Geometric China, Inc. Datawave (An HCL Technologies Technologies Datawave (An HCL Company) Limited (Formerly Factory Limited") known as "ETL HCL Technologies Corporate Technologies HCL Services Limited # C3i Support Services Private Limited Marketing, Inc. Telerx C3i Europe Eood 95 96 73 Powerteam LLC 75 Point to Products Limited # 76 77 94 C3i Japan GK # 74 Point Limited To Point 84 Geometric SAS 79 Geometric Europe GmbH 85Aerospace LLCAmerica Butler 3-Jan-17 93 78 80 83 86 87 Urban Fulfillment Services LLC 23-Aug-17 31-Dec-19 81 82 88 89 90 91 92 S.No

321 Statement under Section 129 (in Extent of percentage) shareholding

- 80% - 80% - 80% - 80% - 100% - 80% - 100% - 100% - 80% - 80% - 80% - 100% - - 80% 80% - 100% (Amount in ₹ Thousand) Dividend Proposed - - 80% - - 100% - - 100% - - 80% - - 100% - - 100% - - 100% - - 100% - - 100% - - 100% - - 100% (207) after (92,005) (Loss) Profit / taxation

- -

for taxation Provision ------(1,527) 44 (1,571) (Loss) before Profit / taxation - - - - 3,709 994 271 723 31,576 (207) 82,222 71,051 3,697 1,134 2,563 708,935 169,398 26,437 142,961 231,405 4,332 1,213 3,119 506,412 5,993 2,159 3,834 241,025 16,319 3,998 12,321 216,086 (1,021) (535) (486) 554,522 20,938 6,297 14,641 313,320 612,108 147,102 382,740 616,948 152,652 9,378 196,575 143,274 (92,005) 819,532 465,445 8,044,941 809,339 279,722 529,617 1,867,303 15,011 2,877 12,134 1,306,056 4,679,259 (139,982) 1,886 (141,868) Turnover Turnover ------(other than in subsidiaries) Investments - - - Total Total Liabilities - 619 25,475 23,474 34,346 32,345 55,670 53,669 54,019 52,018 252,740 250,739 229,371 227,370 141,921 139,920 Total Assets ------5 57,287 55,281 100 6,885 6,885 94,603 51,937 403,585 1,204,674 308,982 1,152,737 Surplus (1,034,544) 11,225,783 12,260,326 Reserves & - - - - 1 1,000 12,219 14,914 1,695 1,000 5,508 9,911 3,403 Share Capital 1.00 3.15 18,899 306,633 415,877 90,345 1.00 71.36 80.04 2,961 21,263 283,589 259,365 80.04 2,001 80.04 2,001 28,856 90,906 60,049 71.36 7,136 (8,392) 60,572 61,828 50.01 80.04 80.04 71.36 2,001 23,954 341,508 71.36 315,553 80.04 1,441 (434,526) 5,705 438,790 80.04 2,001 (1,382) 80.04 1,901 80.04 2,001 80.04 2,001 80.04 14,406 1,127,248 71.36 1,262,666 2,609,748 (511,541) 121,012 3,263,377 1,165,170 80.04 60,026 9,036 84,838 15,776 80.04 2,001 80.04 2,001 80.04 2,001 80.04 32,894 861,763 2,114,694 1,220,037 80.04 2,001 balance Exchange respective sheet date Rate as on

INR INR USD EUR EUR EUR USD AUD EUR EUR USD USD EUR EUR EUR EUR EUR USD EUR EUR EUR EUR EUR EUR EUR Currency Reporting period ended Financial 31-Mar-20 31-Mar-20 Date of 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 CZK 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 17-Jul-18 31-Dec-19 acquisition / incorporation .o. Name of the Subsidiary Company Actian France Actian Australia Pty Ltd # Actian Actian Europe Limited # Actian Germany GmbH Actian International, Inc. # Pervasive Software, Inc. Actian Netherlands B.V. Actian Netherlands B.V. Solutions GmbH H&D IT H&D International GmbH Hönigsberg & Düvel Datentechnik Czech s.r Hönigsberg & Düvel Corporation 2-Oct-18 31-Dec-19 H&D Training und Consulting Training H&D GmbH H&D IT Professional Services H&D IT GmbH CATIS GmbH CATIS H&D IT Automotive Services H&D IT GmbH Versant GmbH Versant Software LLC Versant qmo-it GmbH H&D Services for Engineering GmbH CA Management Services GmbH CA 2-Oct-18 31-Dec-19 H&D ITAS Infrastructure Services H&D ITAS GmbH Honisgberg & Duvel Datentichnik GMBH H&D Business Services GmbH 2-Oct-18 31-Dec-19 97 Actian Corporation (Consolidated)98 17-Jul-18 31-Dec-19 99 111 117 118 112 114 119 113 115 116 110 105 100 104 Private LimitedTechnology Actian 17-Jul-18 103 120 101 102 106 108 121 122 107 India Private Limited Versant 109 17-Jul-18 S.No

Annual Report 2019-20 322 (in Extent of percentage) shareholding

- 100% - 100% - 100% - 100% - 100% - 100% - 100% - - 100% 100% (Amount in ₹ Thousand) Dividend Proposed - - 100% - - 100% - - 100% - - 100% 796 (1,243) (2,624) after (Loss) Profit / taxation

- - -

for taxation Provision ------(949) (98) (851) (1,243) (2,624) (Loss) before Profit / taxation - - - - 26,806 796 52,372 3,788 1,760 2,028 114,443 114,443 211,655 211,655 21,612 5,836 15,776 308,507 403,031 (7,087) 8,417 (15,504) 2,197,618 114,737 1,457,045 31,212 74,526 83,525 52,971 21,555 1,202,353 Turnover Turnover ------(other than in subsidiaries) Investments - 383 819 Total Total Liabilities 3,478 9,987 7,986 34,711 34,711 32,710 166,802 164,801 Total Assets - - - - (5,728) 149,754 155,482 Surplus Reserves & 1 76 94 50 80 71 - 187 143 4,300 (3,436) 3,385 2,521 3,662 4,345 46,456 38,449 15,178 605,267 925,602 305,157 Share 195,071 83,525 1,618,839 1,340,243 Capital Share Capital ( ` ) 1.00 1.00 9.26 0.00 0.40 14,469 (2,624) 13,222 1,377 80.04 80.04 2,001 2,001 71.36 82.74 2,068 2,330 5,217 80.04 2,001 balance Exchange respective sheet date Rate as on

INR INR VND EUR EUR USD CAD 53.06 4,245 41,572 78,350 32,533 EUR MYR 17.51 8,754 (6,429) 2,708 Currency Reporting period ended Financial 31-Mar-20 31-Mar-20 31-Mar-20 31-Mar-20 EUR 31-Mar-20 LKR 31-Mar-20 31-Mar-20 Date of bsolute amount of share capital in the following company: 2-Oct-18 31-Dec-19 2-Oct-18 31-Dec-19 27-Apr-18 10-Oct-19 10-Oct-19 10-Oct-19 10-Oct-19 10-Oct-19 22-Feb-19 31-Dec-19 GTQ 29-Nov-19 acquisition / incorporation rupee equivalents of the figures given in foreign currencies in the accounts of the subsidiary companies, are based on the exchange rates as mentioned above for respective for above mentioned as rates exchange the on based are companies, subsidiary the of accounts the in currencies foreign in given figures the of equivalents rupee Name of the Subsidiary Company H&D ITAS Application Services GmbH H&D ITAS Anonima Guatemala, Sociedad HCL Sankalp Semiconductor GmbH. (Note 4) Sankalp Semiconductor Inc. (Note 4) Lanka (Private) Technologies H C L Limited HCL Technologies Vietnam Vietnam Technologies HCL Company Limited Sankalp USA Inc. (Note 4) #Sankalp USA Sankalp Semiconductor SDN. 10-Oct-19BHD. (Note 4) 31-Dec-19 Sankalp Semiconductor Private Limited (Note 4) Sankguj Semiconductor Private Limited (Note 4) HCL Technologies Corporate Services Limited Technologies HCL C3i (UK) Limited C3i Japan GK Australia Pty Ltd Actian Actian Europe Limited Actian International, Inc. Inc. Sankalp USA Point to Products Limited Name of the Subsidiary Company Indian subsidiary. # Refer table given below for a 123 134 130 126 127 124 Client Services GmbH H&D ITAS 2-Oct-18 31-Dec-19 131 133 132 135 Bulgaria EOODTechnologies HCL 18-Nov-19 31-Dec-19 BGN 40.92 3,478 128 129 125 Süd GmbH H&D ITAS

S.No 2 Notes: 1 323 Statement under Section 129 1 April 2019 1 4 October 2019 4 October 2019 4 October 2019 Date of Merger 27 December 2019 23 December 2019 Anand ijayakumar C. V President and Chief Executive Officer Manish Company Secretary

Transferee company Transferee Italy S.P.A Technologies HCL Software LLC Versant HCL America Inc HCL America Inc HCL Actian corporation

23 May 2019 16 March 2020 angements with DXC. Accordingly, CeleritiFinTech Limited (and its step down subsidiaries) and Celeritifintech Date of Incorporation

S. Madhavan Director Prahlad Rai Bansal Deputy Chief Financial Officer mic, the financial details of few subsidiaries in certain geographies, whose audit is progress, have been reported from their unaudited financials. al number 76, 77 and 78, the Group has equity interest of 49% and 100% dividend rights control. al number 33, 44 and 48, the Group has majority composition of board directors and management control.

s Pty. Limited is under liquidation hence, no financial statement has been prepared as per their local laws. lands Holding B.V. was dissolved on 13 January 2020. iconductor Private Limited (and its subsidiaries) was acquired on 10 October 2019. the entities which have been merged during the year the subsidiaries of HCL Technologies UK Limited, which were incoporated during the year but are yet to commence operations. (India)

Aggarwal HCL Technologies Azerbaijan Limited Liability CompanyHCL Technologies (Vietnam) Company Limited 08 October 2019 HCL Technologies Trinidad and Tobago Limited Name of the Subsidiary Company company Transferor Italy SRL HCL Poet Holdings Inc. Strong-Bridge Holding, INC (Acquired on 1 April 2019) Strong-Bridge Holding, INC (Acquired on 1 April 2019) Strong-Bridge LLC (Acquired on 1 April 2019)Envision Business Consulting, LLC (Acquired on 1 ParAccell LLC. America Inc HCL Sankalp Sem Following are Following are Actian Nether With respect to entities on seri Axon Solution On 30 September 2017, the Group has terminated its existing arr Services Limited (and its step down subsidiaries) has not been consolidated with the Group from that date. Accordingly, their standalone financial statements are considered for the purpose of this statement. With respect to entities on seri In view of the Covid -19 pande

4 5 3 6 Chief Financial Officer 8 10 11 Date: 4 September 2020 7 9 For HCL Technologies Limited Technologies For HCL Shiv Nadar Prateek Place: Noida, UP Chief Strategy Officer Annual Report 2019-20 324 Annual Report 2020 Reimagining Tomorrow’s Enterprise…

US$ 9.9 B REVENUE 150,000+ IDEAPRENEURS 155 NATIONALITIES 46 COUNTRIES