May 25,2016

National Stock Exchange o f lndia Ltd.

"Exchange Plaza",
Bandra Kurla Complex, Bandra (E)
Mumbai - 400 051.
Symbol : HGS

BSE Limited
Corporate Relation Dept.
P. J. Towers, Dalal Street
Mumbai 400 001.
Scrip Code :532859

Dear Sirs,
Sub:

Audited Financial Results (Standalone and Consolidated)

for the quarter and year ended March 31,2016

This has further reference to our letter dated May 14, 2016. This is to inform that the Board of Directors
of, the Company at their Meeting held today have approved the Audited Financial Results (Standalone
and Consolidated) of the Company for the quarter and year ended March 31, 2016.
The Board of Directors have recommended a Final Dividend of Rs.1.25 per equity share (12.5%) of
Rs.101- each for the financial year ended March 31, 2016, in addition to two interim dividends of Rs. 51per share each and one interim dividend of Rs. 3.75 per share during the financial year ended March 31,
2016. Accordingly, the total dividend for the year ended March 31, 2016 would be Rs.151- per equity
share of Rs.101- each (150%) which is subject to the approval/confirmation of the Shareholders of the
Company.
Pursuant to the Regulation 33 of SEBl (Listing Obligations and Disclosure Requirements) Regulations,
2015, we enclose the following:
1) Statement showing the Audited Financial Results (Standalone and Consolidated) for the quarter and
year ended March 31,2016;
2) Auditors' Report on the Audited Financial Results - Standalone and Consolidated; and
3) Form A (for Audit Report with unmodified opinion) - Standalone and Consolidated.
The Meeting of the Board of Directors commenced at 5:50 p.m. and concluded at 7:30 p.m.
Kindly take above informationldocuments on your record and bring the same to the notice of your
members.
Thanking you,
Yours truly,
For Hinduja Global Solutions Limited

P?

Makarand D al
Company gecretary
Encl: ala

Regd. ofice: ~indujaGlobal Solutions Limited. Hinduja House, 17 1, Dr. Annie Besanf Road. Wodi Mumbai - 400 0 18. lndia T: 9 1-22-2496 0707, F: 9 1-22-24974208
~ o ~ o r a0t fek e HGS ~ouse.No. 614, Vajpayee Nagu, Bommanahalli Hosur Road angalore - 560 068, lnMa T: 91-80-2573 2620, F: 91-80-2573 1592. W: w . t a m h g s , c o m
Corporate I d e n t i Number: L92 199MH1995PLC0846I 0

FORM A (for audit report with unmodified opinion)

[Regulation 33 (3)(d) o f Securities and Exchange Board of India (Listing Obligations and

Disclosure Requirements) Regulations, 20151

2.

I Annual Standalone financial statements for the I March 31. 2016

Name of the Company

Hinduja Global Solutions Limited

year ended

1.

3.

4.

1 Type of Audit observation

Frequency of observation

For Hinduja Global Solutions Limited

I Unmodified

Not Applicable

For Hinduja Global Solutions Limited

Partha DeSarkar
'Chief Executive Officer

For Hinduja Global Solutions Limited

Anil Harish
Chairman of Audit Committee

May 25,2016

For Price Waterhouse

Chartered Accountants
Firm Registration No.301112E

Jeetendra
Partner
Membership No.048125

Hinduja Global Solutions Limited

(CIN: L92199MHl995PLCO84610)
Regd. Office : Hinduja House, 171, Dr. Annie Besant Road, Worli, Mumbai 400018. Contact no.: 022 2496 0707, Fax: 022-2497 4208
Website: vmw.teamhgs.com
E-mail: [email protected]

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2016
(Rs.in Lakhs)
Preceding
3 months
ended

Corresponding
3 montha ended
31.03.2015 in the

Year to date
figures for Current
Period ended

revl lo us year

Unaudited

31.12.2015
Unaudited

Ill

1111

(ill)

31.03.2018
Audited
livl

%NO.

Particulars

months
ended

31.03.2018
(Refer Notes Below)

I Income from operations

(a) Net Sales IIncome from operations

3
4
5
6
7
8
9
10
I1
12
13
14
15
16

Unaudited

Prevlous year
ended

31.03.2015
Audited

(vl

39,182.58

36.847.18

27.934.94

138.288.39

107.040.48

Total income from operations (net)

39,182.58

36,847.18

27,934.94

138,288.39

107,040.48

Expenses
a) Employee benefits expense (Refer Note 3)
b) Depreciation and amortisation expense
C)Other expenses

22.924.57
2.01 1.50
8.1 35.55

24.078.51
2,534.64
7,496.04

17,290.86
1.639.80
5,347.66

Total expenses

33,071.62

34,109.19

24.278.32

122,214.63

6,110.96

2,737.99

3,656.62

16,073.76

14,890.87

771.13
6,882.09

566.14
3.304.1 3

1.110.86
4,767.48

2,453.97
18.527.73

2.782.33
17.673.20

501.73
6,380.36

412.51
2,891.62

256.08
4.511.40

1.496.14
17.031.59

1,575.24
16.097.96

6.380.36
1.300.88
5,079.48

2,891.62
949.84
1.941.78

4,511.40
1,208.04
3,303.36

17,031.59
5.206.59
11,825.00

16.097.96
4,839.52
I1,258.44

5.079.48
2,072.90

1,941.78
2.072.90

3.303.36
2.071.96

I1.825.00
2,072.90

I1.258.44
2,071.96
79.258.04

24.52
24.51

9.37
9.36

15.97
15.96

57.06
56.98

54.49
54.21

Profit from Operations before Other Income, finance costs

and exceptional item
Other Income
Profit from ordinary activities before finance costs and
exceptional item
Finance costs
Profit from ordinary activities after finance costs but before
exceptional item
Exceptional Item
Profit from ordinary activities before tax
Tax Expense (incl. Deferred Tax)
Net Profit from ordinary activities after tax
Extraordinary items
Net Profit for the period
Paid-up Equity Share Capital ( Face Value Rs. 101- )
ReSe~esexcluding Revaluation Reserve as per Balance sheet of
previous accounting year
Earnings Per Share (EPS) (of Rs. 101- each)
Basic E.P.S. ( not annualised ) ( Rs.)
Diluted E.P.S. ( not annualised ) ( Rs.)

86.294.94
8.186.54
27,733.15

66,460.51
6.056.07
19.633.03
92,149.61

See accompanying notes to the financial results

Notes :
I The Company is engaged only in Business Process Management and therefore, has only one primary reportable segment in accordance with the Accounting
Standard 17 " Segment Reporting".
2

The Board of Directors have recommended for approval of members, a final dividend of Rs. 1.25 per share (on an equity share of par value of Rs. 101- each) for
the year ended March 31. 2016. The Company had paid two interim dividends of Rs. 5 per share each and one interim dividend of Rs. 3.75 during the financial
year ended March 31, 2016. Accordingly, the total dividend for the year ended March 31, 2016 would be Rs. 15 per share.

On January 1,2016, The Payment of Bonus Act, 1965 was amended vide The Payment of Bonus (Amendment) Act, 2015 with aretrospeclive effect from April 1,
2014. Pursuant to the said amendment, the Company has made a provision for bonus amountingto Rs. 0.41 Lakhs and Rs. 115.39 Lakhs during the quarter and
year ended March 31.2016 respectively,relating to the period from April 1. 2015 to March 31. 2016. In view ofthe stay granted by Hon'ble High Court of
Kamataka on retrospective application of the Act and based on legal opinion obtained by the Company, the Company has not made provision for bonus payable
forthe year from April 1.2014 to March 31. 2015.

Other Income includes following:

(Rs. in Lakhs)
3

Partlculare

months ended
31.03.2018

Preceding3 months
ended 31.12.2015

Cormspondlng3
months ended
3t.03.2015 In the

Year

(Dividendreceived from a wholly owned subsidiary

5
6

162.23

(71.84)

445.43

445.42

368.54

(254.57)

998.53

Prevlous year
ended 31.03.2015

Perlod ended
31.03.2018

previous year

Gainl(Loss) on account of fluctuations in foreign exchange

currencies

to date figures

for Current

1,336.27

170.23

1.948.72

Tax expense for the quarter and period ended December 31.2015 and year ended March 31.2015 is net of prior year reversal of Rs. 85.20 lakhs and Rs. 210
lakhs, respectively.
During the year ended March 31.2016, the Company issued 4.866 equity shares pursuant to the exercise of stock options by certain employees under the
"Employee Stock Option Plan 2008" and 4.600 equity shares pursuant to the exercise of stock options by certain employees under the "Employee Stock Option
Plan 2011".

Hinduja Global Solutions Limited

(CIN: L92199MH1995PLC084610)
Regd. Office : Hinduja House, 171, Dr. Annie Besant Road, Worli, Mumbai 400018. Contact no.: 022 2496 0707, Fax: 022-2497 4208
Website: www.teamhgs.com
E-mail: [email protected]

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, M I 6
7

Statement of assets and liabilities

Shareholders' funds
(b) Reserves and Surplus
Sub-total -Shareholders' funds
Noncurrent liabilities
(a) Long-term borrowings
(b) Deferredtax liabilities (net)
(c) Long-term provisions
Sub-total Noncurrent liabilities

Current liabilities
(a) Short-temlborrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
Sub-total -Current liabilities

TOTAL EQUITY AND LIABILITIES

(d) Long-term loans and advances

(e) Other non-current assets
Sub-total Noncurrent assets

2 Current assets
(a) Current Investments
(b) Trade receivables
(c) Cash and Bank Balances
(d) Short-term loans and advances
(e) Other current assets

Sub-total Current assets

9
10

Effective September 1, 2015, the Company has acquired a significant portion of the domestic BPO business from Mphasis Limited and its wholly owned subsidiary
Msource India Private Limited for an aggregate consideration of Rs. 1,700 lakhs. In view of this acquisition, the figures of the current quarter and period are not
comparablewith the figures of preceding quarter and also with the corresponding quarter and period of the previous year.
The figures of the quarter ended March 31,2016 are the balancing figure between the audited figures in respect of the full financial year ended March 31.2016
and the published year-todate figures upto the third quarter of the said financial year.
The above results were reviewed by the Audit Commitiee at its meeting held on May 24.2016 and then approved by the Board of Directorsof the Company at its
meeting held on May 25, 2016.

4>

For Hinduja Global Solutions Limited

Place : Mumbai
Date : May 25.2016

Rarnkrishan P. Hinduja
Chairman
DIN : 00278711

FORM A (for audit report with unmodified opinion)

[Regulation 33 (3)(d) o f Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 20151

1.

Name of the Company

Hinduja Global Solutions Limited

Annual Consolidated financial statements for

the year ended

March 31, 2016

1 4

Type of Audit observation

4.

Frequency of observation

Not Applicable

For Hinduja Global Solutions Limited

For Hinduja Global Solutions Limited

Partha DeSarkar =.Chief Executive Officer

For Hinduja Global Solutions Limited

Anil Harish
Chairman of Audit Committee

May 25,2016

Unmodified

For Price Waterhouse

Chartered Accountants
Firm Registration No.301112E

Lb-5

Jeetendra Mirchandani
Partner
Membership No.048125

Regd. Office

Hlnduja Global Solutlons Limited

ICIN: L92199MH1995PLC0846lOI
-,
: Hinduja House, 171, Dr. Annie Besant Road, Worli, Mumbai 400018. Contact no.: 022 - 2496 0707, Fax: 022-2497 4208
Webslte: www.teamhgs.com
E-mail: [email protected]

STATEMENT OF AUDITED CONSOLIDATED RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2016
(Rs. in Lakhs)
P~ecedlng
3 rnonms

S.No.

PaTtlcu1.111
(Refer Notes Below)

1 lncome from operations

(a) Net Sales IIncome from operations
Total Income from operations (net)
2 Expendnure
a) Employee benefits expense (Refer Note 3)
b) Depreciation and amortisation expense
c) Other expenses
Total expenses
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

Profn from Operatlons before Other Income, finance costs and

exceptlonal item
Other Income
Profn from ordlnary activities before finance costs and
exceptional item
Finance costs
Profit from ordlnary activities after flnance costs but before
exceptional item
Exceptional item
Profn from ordlnary Activities before tax
Tax Expense (incl. Deferred Tax)
Net ProR from ordinary actlvitles after tax
Extraordinary items
Net Profnfor the period
Less : Minority interest
Net Profk for the period after minority Interest
Paid-up Equity Share Capital ( Face Value Rs. 101- )
Reserves'exduding Revaluation Reserve as per Balance Sheet of
previous accounting year

18 Earnings Per Share (EPS) (of Rs. 101- each)

Basic EPS ( not annualised ) ( Rs.)
Diluted EPS ( not annualised ) ( Rs.)

3 rnonmr

ended

ended

31.03.2018

31.12.2015

unaudned

Unaudited

Ill

(11)

Corresponding
3 rnonmr ended

in me
previouswar
Unaudited

31.03.2015

IIW

Year lo date

ngurer b r Current
Pedod ended

Prevlousyear
ended
31.03.2015

31.03.20111

Audibd

Audlted

(*I

IVl

91.393.31

88,291.88

70.676.70

332.821.34

280,757.98

91,393.31

88,291.88

70,676.70

332,821.34

280,757.98

59.345.00
3.638.65
22.240.09

59,893.80
3,781.27
20.737.50

48.683.87
2.808.79
15,059.58

224,304.61
13,642.35
77,214.06

191.045.92
10.524.37
57.990.61

85,223.74

84,412.57

66,552.24

315,161.02

259,560.90

6,169.57

3,879.31

4,124.46

17,660.32

21,197.08

1.002.17

(213.68)

408.32

1.941.77

2,010.45

7,171.74
1.044.89

3,665.63
906.85

4,532.78
862.40

19,602.09
4,007.49

23.207.53
3,864.24

6.126.85

2,758.78

3,670.38

15,594.60

19,343.29

6,126.85
2,047.40
4,079.45

2,758.78
1.047.72
1.711.06

3,670.38
(459.90)
4,130.28

15,594.60
5.494.85
10,099.75

19,343.29
2,840.68
16,502.61

4,079.45

1,711.06

4,130.28

10,099.75

16,502.61

4,079.45
2.072.90

1,711.06
2.072.90

4,130.28
2,071.96

10,099.75
2.072.90

16,502.61
2.071.96
105.351.07

19.69
19.68

8.25
8.25

19.98
19.97

48.73
48.66

79.88
79.46

See accompanying notes t o the financial results

Notes :
1 The Consolidated Financial Statements of Hinduja Global Solutions Limited and its subsidiaries ("the Group") are prepared in accordance with Accounting Standard - 21
"Consolidated Financial Statements".
2 The Group is engaged only in Business Process Management and therefore, has only one primary reportable segment in accordance with the Accounting Standard 17 "
Segment Reporting".
3 On January 1.2016, The Payment of Bonus Act, 1965 was amended vide The Payment of Bonus (Amendment)Act. 2015 with a retrospectiveeffect from April 1.2014.
Pursuant to the said amendment, the Company has made a provisionfor bonus amounting to Rs. 62.78 Lakhs and Rs. 198.80 Lakhs during the quarter and year ended
March 31. 2016 respectively. relating to the period from April 1, 2015 lo March 31. 2016. In view of the stay granted by Hon'ble High Court of Karnataka on retrospective
application of the Act and based on legal opinion obtained by the Company. the Company has not made provision for bonus payable for the year from April 1. 2014 to
March 31.2015.
4 The Board of Directors have recommended for approval of members, a final dividend of Rs. 1.25 per share ( on an equity share of par value of Rs. 101- each) forthe year
ended March 31.2016. The Company had paid two interim dividends of Rs. 5 per share each and one interim dividend of Rs. 3.75 during the financial year ended March
31. 2016. Accordingly, the total dividend for the year ended March 31. 2016 would be Rs. 15 per share.
5 Other lncome includes following:
3 rnonms mded
31.03.2018

PaTtlsYIam
Gainl(Loss) on accounl of fluctuations i n foreign exchange
currencies

462.13

Preceding 3 rnonmr Correspondlmg 3 rnonms

ended 31 12 2015
ended
31.03.2015 Inme
prevlour year
(319.27)

(663.26)

Year lo date Mures b r

Current
Pedod ended

(Rs. in Lakhs)
Previousyear
ended 31.03.2015

31.03.2018

410.79

(444.97)

6 Standalone Information
Preceding

Correrpondlng

3 moomr

3 rnonmr

3 rnonmr ended
31.03.2015 in me

31.03.2016

31.12.2015

~a~tlculllrs
Nel Sales IIncome from operations
Profit Before Tax

ended

prevlo~l
year

Year Iodate
ngurer for Current
Perlod ended

IRs. in Lakhsi
Previousyear
ended
31.03.2015

31.03.2018

39.182.58 1

7 Tax expense for the year ended March 31, 2015 is net of credit of Rs. 2.477.96 lakhs on account of recognition of deferred tax assets by one of the foreign subsidiary in
accordance with relevant pmvisions of AS 22 -Accounting for Taxes on income. Tax expense for the year ended March 31.2015 is net of pnor year reversal of Rs. 210
lakhs.

Hlnduja Global Solutions Limited

ICIN: L92199MH1995PLC0846101
Regd. Office : Hinduja House, 171,Dr. Annie Besant Road, Worli, Mumbai 400018.Contact no.: 022 2496 0707,Fax: 022-24974208
Website: www.teamhgs.com
E-mail: [email protected]

STATEMENT OF AUDITED CONSOLIDATED RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2016

8 Statement of assets and liabilities

(Rs. in Lakhs)
As at
AS at

Particulars

31.03.2016

31.03.2015

A EQUITY AND LIABILITIES

II

1 Shareholders'funds
(a) Share Capital
jbj ~eserves'andSurplus

115.761.38

105.351.07

22,354.51

2.627.77

22,972.71

17.973.50

242,461.181

207,323.76

Sub-total - Shareholders' funds

2 Minority interest
3 Noncurrent llabiltties

(a) Long-term borrowings

(b) Deferred tax liabilities (net)
(c) Other long term liabilities
(c) Long-term provisions

Sub-total Non-current llabllttles

4 Current llabilitles
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
Sub-total -Current llabilitles

TOTAL EQUITY AND LIABILITIES

B ASSETS

1 Noncurrent assets
(a) Fixed Assets
(b) Goodwill on consolidation
(c) Non-currentinvestments
(d) Deferred tax assets (net)
(e) Long-term loans and advances
(0 Other non-current assets
Sub-total Non-current assets

2 Current assets
(a) Current Investments
(b) Trade receivables
(c) Cash and Bank Balances
(d) Short-term loans and advances
(ej Other current assets

TOTAL

- AS SETS^

9 Effective September 1.2015,the Company has acquired a significant portion of the domestic BPO business from Mphasis Limited and its wholly owned subsidiary Msource
India Private Limited for an aggregate consideration of Rs. 1.700lakhs. In view of this acquisition, the figures of the current quarter and period are not comparable with the
figures of preceding quarter and also with the corresponding quarter and period of the previous year.

10 In view of the acquisition of Colibrium Partners LLC and Colibrium Direct LLC effective March 27.2015,the figures of the quarter and period ended March 31.2016 are not
comparablewith the figures of the corresponding quarter and period ended in the previous year.

11 During the year ended March 31 2016 the Company issued 4.866equlty shares pursuant to the exerclse of stock optons Dy certa'n employees under the' Employee
Stock Option Plan 2008" and 4.600equlty shares pursuant to the exercise of stock opt ons Dy cenain employees under the "Employee Stock Optlon Plan 2011'

12 The figures of the quarter ended March 31.2016are the balancingfigure between the audited figures in respect of the full financial year ended March 31,2016and the
published year-todate figures upto the third quarter of the said financial year.

13 Investors can view the standalone results of the Company on the Company's website: www.teamhgs.com and the website of BSE (www.bseindia.com) or NSE
1www.nseindia.com~.

14 The above results were reviewed by the Audit Committee at its meeting held on May 24,2016 and then approved by the Board of Directors of the Company at its meeting
held on May 25.2016.
15 Previous period figures have been reclassified to conform to current period classification.
A

Place : Mumbai
Date : May 25.2016

~amkrish'an P. Hinduja
Chairman
DIN : 00278711