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A New World of Communications™ FOLD A NEW WORLD OF COMMUNICATIONS™ ANNUAL REPORT 2016 Tata Communications Limited VSB, Mahatma Gandhi Road, Fort Mumbai, 400 001 India About Tata Communications Tata Communications Limited (CIN no: L64200MH1986PLC039266) along with its Tata Communications’ depth and breadth of reach in emerging markets subsidiaries (Tata Communications) is a leading global provider of A New World of includes leadership in Indian enterprise data services and leadership in global Communications™. With a leadership position in emerging markets, Tata Communications international voice. leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service Tata Communications Limited is listed on the Bombay Stock Exchange and the providers and Indian consumers. National Stock Exchange of India. The Tata Communications global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network, as well as nearly 1.5 million square feet of data centre and collocation space worldwide. www.tatacommunications.com | @tata_comm http://tatacommunications-newworld.com | www.youtube.com/tatacomms © 2016 Tata Communications. All rights reserved. TATA COMMUNICATIONS and TATA are trademarks of Tata Sons Limited in certain countries. AnnualReport_cover_AW_FIN.indd 1 04/05/2016 13:58 BEING PART OF TATA COMMUNICATIONS IS BEING PART OF... INDIA UNITED KINGDOM FRANCE Tata Communications Limited Tata Communications Tata Communications Plots C21 and C36 (UK) Limited (France) SAS Block G, Bandra Kurla Complex Vintners Place 131 Avenue Charles de Gaulle Bandra (East) 68 Upper Thames Street 92200 Neuilly sur Seine Mumbai 400 098 London EC4V 3BJ France A global workforce United Kingdom SINGAPORE CANADA Tata Communications GERMANY Tata Communications International Pte. Ltd. Tata Communications (Canada) Limited 8,500 28 36 Tata Communications Exchange Deutschland GmbH 1441 Rue Carrie-Derick Employees Nationalities Average age 35 Tai Seng Street, #06-01 Bettinastraße 30 Montreal, Quebec Singapore 534103 60325 Frankfurt Canada H3C 4S9 Registration Number: 20040025G Tata Communications Deutschland GmbH Domicile: Frankfurt am Main UNITED STATES HONG KONG Registry Court: Tata Communications Tata Communications AG Frankfurt am Main (America) Inc. A global vision Emerging (Hong Kong) Limited 2355 Dulles Corner Boulevard, markets Room 3702, The Lee Gardens Commercial Suite 700 INDIA, CHINA, 33 Hysan Avenue Register number: HRB 54483 Herndon, VA 20171 Causeway Bay, Hong Kong Bettinastr. 30, 60325 AFRICA, Frankfurt am Main MIDDLE EAST A NEW WORLD OF COMMUNICATIONS™ Tata Communications creates A New World of A NEW WORLD OF Converged Communications™ to drive Managed ™ IP solutions our customers’ & partners’ Services COMMUNICATIONS leadership, leveraging IP technology in future WWW.TATACOMMUNICATIONS.COM markets A global position #1 Enterprise data in India #5 Global IP transit provider #1 International wholesale voice provider www.tatacommunications.com | @tata_comm www.tatacommunications.com | @tata_comm http://tatacommunications-newworld.com | www.youtube.com/tatacomms http://tatacommunications-newworld.com | www.youtube.com/tatacomms © 2016 Tata Communications. All rights reserved. TATA COMMUNICATIONS and TATA are trademarks of Tata Sons Limited in certain countries. © 2016 Tata Communications. All rights reserved. TATA COMMUNICATIONS and TATA are trademarks of Tata Sons Limited in certain countries. AnnualReport_cover_AW_FIN.indd 2 04/05/2016 13:59 Tata Communications Limited THIRTIETH ANNUAL REPORT 2015-16 CONTENTS Corporate Details ................................................................................................................................................................................... 2 Notice ......................................................................................................................................................................................................... 3 Directors’ Report ..................................................................................................................................................................................... 13 Management Discussion and Analysis ........................................................................................................................................... 38 Report on Corporate Governance .................................................................................................................................................... 54 Declaration regarding Company’s Code of Conduct ................................................................................................................ 73 Auditors’ Certificate on Corporate Governance .......................................................................................................................... 73 Secretarial Audit Report ....................................................................................................................................................................... 74 Business Responsibility Statement .................................................................................................................................................. 76 Corporate Structure as at March 31, 2016 ..................................................................................................................................... 85 Standalone Financial Statements Auditors’ Report ...................................................................................................................................................................................... 86 Balance Sheet .......................................................................................................................................................................................... 92 Statement of Profit and Loss .............................................................................................................................................................. 93 Cash Flow Statement ............................................................................................................................................................................ 94 Notes to the Financial Statements ................................................................................................................................................... 95 Consolidated Financial Statements Auditors’ Report on Consolidated Financial Statements ......................................................................................................... 137 Consolidated Balance Sheet ............................................................................................................................................................... 142 Consolidated Profit & Loss Account ................................................................................................................................................ 143 Consolidated Cash Flow Statement ................................................................................................................................................ 144 Notes to the Consolidated Financial Statements ....................................................................................................................... 145 Statement pursuant to Section 129(3) of the Companies Act, 2013 ................................................................................... 194 Board of Directors .................................................................................................................................................................................. 195 To support the ‘Green Initiative’, the Members who have not registered their email addresses are requested to register the same with their Depository Participants / TSR Darashaw Limited. 1 COMMUNICATIONS Thirtieth Annual Report 2015-2016 Tata Communications Limited CORPORATE DETAILS BOARD OF DIRECTORS Mr. Subodh Bhargava (Chairman) (Independent) Mr. Vinod Kumar (Managing Director and Group CEO) Mr. N. Srinath Mr. Kishor A. Chaukar Dr. Ashok Jhunjhunwala Dr. Uday B. Desai (Independent) Mr. Saurabh Kumar Tiwari Mr. Bharat Vasani Ms. Renuka Ramnath(Independent) Dr. Gopichand Katragadda Mr. Manish Sansi Company Secretary & General Counsel (India) Ms. Pratibha K Advani Chief Financial Officer REGISTERED OFFICE VSB, Mahatma Gandhi Road, Fort,Mumbai - 400 001, Tel : +91 22 6657 8765, Fax : +9122 6725 1962, Email : [email protected], Website : www.tatacommunications.com. CORPORATE OFFICE Plot No. C21& C36, ‘G’ Block, Bandra Kurla Complex, Mumbai - 400 098. BANKERS ANZ Bank ICICI Bank Ltd. Axis Bank Indian Bank Bank of America Indian Overseas Bank Bank of Baroda Indusind Bank Ltd. BNP Paribas Bank Kotak Mahindra Bank Ltd. Citibank Inc. Scotia Bank Deustche Bank Standard Chartered Bank Development Bank of Singapore (DBS) State Bank of India Federal Bank Syndicate Bank HDFC Bank Ltd. Yes Bank Ltd Hongkong & Shanghai Banking Corporation (HSBC) FINANCIAL INSTITUTIONS Cisco Capital COFACE, France Export Development Canada (EDC) US EXIM LEGAL ADVISORS S&R Associates Shardul Amarchand Mangaldas & Co Mulla & Mulla and Craigie Blunt & Caroe Khaitan & Co. STATUTORY AUDITORS S.B. Billimoria & Co., Chartered Accountants REGISTRARS & TSR Darashaw Limited TRANSFER AGENTS 6/10, Haji Moosa Patrawala Industrial Estate, 20, Dr. E. Moses Road, Mahalaxmi,
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