L&T Infotech Annual Report FY 2016

ANNUAL REPORT 2015-16
Let’s S lve

1. Corporate Overview
01 Message from the Founder Chairman
02 Let’s Solve
04 The Journey So Far…
06 At a Glance
10 Message from the CEO
12 Board of Directors
15 Key Leadership Team
16 Corporate Information
17 Key Financial Highlights
18 Corporate Social Responsibility
2. Our DNA
20 Client-Centricity
21 Digital Leadership
22 Best Place to Learn, Evolve, Grow
3. Statutory Reports
26 Directors’ Report
55 Corporate Governance Report
62 Management Discussion and Analysis
76 Risk Management Framework
4. Financial Statements
Standalone
77 Independent Auditor’s Report
82 Balance Sheet
83 Statement of Profit & Loss
84 Cash Flow Statement
86 Notes forming part of accounts
Consolidated
118 Independent Auditor’s Report
122 Balance Sheet
123 Statement of Profit & Loss
124 Cash Flow Statement
126 Notes forming part of accounts
Inside
Prior experience in enabling
technology-driven growth across
multiple businesses gave your
company an unmatched
‘Business-to-IT connect’
Message from the
Founder Chairman
Mr. A. M. Naik, Founder Chairman, was conferred the Order of the
Dannebrog as Knight First Class by Her Majesty, Queen Margrethe of
Denmark. The knighthood is royal acknowledgement of Mr. Naik’s role in
fostering Indo-Danish ties in the fields of business, commerce and culture.

Dear Shareholders,
Information Technology is increasingly becoming the axis on which
our world rotates. Technology pervades multiple aspects - building
communication platforms, accelerating processes, expanding
outreach, adding ‘intelligence’ to functions and contributing to
delivering superior outcomes. The speed at which IT developments
have transited from lab to life indicate a growing acceptance that
the old order will be disrupted and replaced with a new
‘digital’ way.
I am very happy that your company - L&T Infotech - is playing
an increasingly important role in a sector of critical significance
around the globe.
Our technology journey really began when we formulated an IT
vision for the L&T Group, and committed ourselves to nurturing the
newly-formed subsidiary. We recognised early that our IT initiative
was uniquely positioned. Prior experience in enabling technology-
driven growth across multiple businesses gave your company an
unmatched ‘Business-to-IT connect’. I place on record, the pivotal
role of the Company’s former CEO & MD, Mr. V.K. Magapu, in
providing leadership and direction in the formative years of this
organisation.
Brand L&T has undoubtedly proved to be a key asset all along the
journey. It has opened doors, providing access to new markets,
secured credibility among first-time customers and functioned as
a clear differentiator in markets where services were vulnerable
to commoditisation. The L&T heritage has also served as an
inspirational force across Team Infotech, motivating it to live up
to a seven-decade-old legacy of customer-centricity, professional
excellence, and the consciousness of larger social obligations even
as it vigorously pursued business goals.
Going forward, I am confident that the relationship between
parent and subsidiary will become increasingly symbiotic - each
complementing and augmenting the other. As L&T Infotech forays
into uncharted geographies, it could well play the role of a flag-
bearer for the entire Group.
As we enter an era of growing convergence, the future presents
a canvas of unprecedented change. The management team at
L&T Infotech is increasingly building competencies in new-age
technologies like Digital & Automation. The team comprises of
high-calibre technology professionals with global experience, as
well as experts possessing deep domain knowledge. We believe
that this blend of talent, bolstered by a strong management
culture, will help the Company successfully address the challenge
of change and scale new heights.
A.M. Naik
Founder Chairman
The management team at L&T Infotech
is increasingly building competencies
in new-age technologies like Digital &
Automation

Let’s Solve
This is the age of disruption. Emerging technologies
have turned business models upside down. Start-ups
are threatening the behemoths. Corporations today are
racing to disrupt themselves.
At the core of this disruption is technology which is
connecting business with customers in ways, never
fathomed before. Augmented Reality, 3D Printing,
Internet-driven cars, Wearable devices, Smart Cities –
technology phrases which were science fiction a few
years ago, are a reality and here to stay. Technology is
changing. The familiar and successful organisations will
be those who will transform themselves to be able to
thrive at the convergence of physical and digital worlds.
To navigate such change, businesses need a partner,
who solves complex business problems, wherever they
are.
At L&T Infotech, we solve.
We Solve Digital.
We Solve IoT.
We Solve Automation.
Let’s Partner. Let’s Solve.
2
Annual Report 2015-16

Solving complex problems is
embedded deeply in the DNA of
Larsen & Toubro.
Our enduring group legacy of over seventy five years has seen us
work closely with core industries like engineering, technology,
construction, manufacturing and financial services. The L&T legacy
has translated into a deep domain experience and institutional
knowledge, giving us a unique real-world expertise of diverse
industries ranging from automotive to aerospace, construction
to consumer goods, housing to healthcare and ship-building to
sciences.
At L&T Infotech, we enable and engage with clients to create
winning and enduring solutions for their complex challenges.
Emanating from client-centricity, driven by digital leadership
and reinforced by a culture of excellence in the form of best
professionals in the industry, we believe in crafting far-reaching
solutions for our clients. Solutions that help build innovative
business models, enhance operational efficiencies and create
captivating customer experiences.
Let’s Solve
Corporate Overview - Let’s Solve
Our DNA
Statutory Reports
Financial Statements
3

The Journey So Far…
Where
we stand
today…
The confident steps taken in 1997 picked up pace and became swift strides, as we covered many miles and
created memorable milestones.
We work with
258 clients,
including
49Fortune 500
Companies
We are among the
TOP 20Global IT Services
companies with an
annual revenue of
$ 887Mn +
Company was
incorporated in
Dec, 1996, by spin-off
of Information Systems
Division of L&T
Was awarded the
initial multi-year
annuity contract by
Global Fortune 100
Oil & Gas Corporation
Established
business
in South Africa
Acquisition of
GDA Tech Inc., USA-
Electronic design
services company
Achieved
SEI CMM-L5
Certification
2002 2007
2004 20081997
4

Corporate Overview - The journey so far…
Our DNA
Statutory Reports
We have
20,000+
employees
Working out of
across the Globe
44
Sales Offices
22
Delivery Centres
Achieved SEI CMMi
v1.2 Level 5
certification for all
development centres
in India
Re-organisation of
verticals. Introduction
of Media &
Entertainment and
Travel & Logistics
verticals
Acquisition of
Information Systems
Research Centre (ISRC),
a unit of UTC Group
Positioned among
the Top 20 IT Service
providers by Everest
Group
Positioning to cater
to Smart Cities
Opportunities
Acquisition of
transfer agency
business unit from
Citigroup in Canada
(L&T Infotech
Financial Services
Technologies Inc.)
2010 2013
20152011
2016
Note: The above information has been presented on Financial Year basis.
5

At a Glance
Our Promise
We solve complex business
challenges at the convergence of
digital and physical WORLD with
our real-world expertise and
client-centricity.
Our Pedigree
We are part of Larsen & Toubro Limited
(L&T), a diversified conglomerate of
revenue over USD 15 Billion. Tracing its
roots back to 1938, the company has been
involved in nation-building over the last
seven decades. The company is a leader in
Engineering, Construction, Manufacturing,
Finance and Technology.
L&T has consistently contributed to India’s
progress over the decades. From setting
up cement plants and building offshore
oil platforms in the 1980s to creating
Knowledge Cities and Business Parks,
L&T’s profile and portfolio has been in line
with its strategic vision of contributing to
nation-building.
a diversified
conglomerate
tracing its roots
back to 1938.
Larsen&
Toubro
Limited
Today, L&T continues to be engaged in
the core sectors of the economy. It is
augmenting its presence in infrastructure,
defence and technology sectors and sees
an expansive role in building of smart
cities and communications.
6

Corporate Overview - At a Glance
Our DNA
Statutory Reports
Our Real-World Expertise – Our Business-to-IT Connect
Leveraging Domain Experience and Institutional Knowledge of
the L&T Group
Heavy Engineering
Defence
Finance &
Insurance
Power
Housing &
Real Estate
Construction
Ship Building
Hydrocarbons
Construction
Equipment
7

Where
we
Solve
Global Presence
North America
14 Sales offices
8 Delivery centres
Europe
12 Sales offices
2 Delivery centres
Middle East &
South Africa
4 Sales offices
1 Delivery centre
India
9 Sales offices &
Delivery centres
APAC
5 Sales offices
2 Delivery centres
At a Glance
Banking &
Financial Services
Insurance Energy &
Process
Media and
Entertainment
Utilities Engineering and
Construction
Consumer Packaged
Goods, Retail &
Pharmaceuticals
Hi-Tech Plant EquipmentTravel and
Logistics
Automotive
and Aerospace
8

Corporate Overview - At a Glance
Our DNA
Statutory Reports
How we Solve Awards & Recognitions
Our success with new-age technologies,
our client-centric approach and our
institutionalised processes have earned us,
numerous awards and recognitions during
the year. Notable among these are:
o ‘Innovation in Big Data Award’ at the
NetApp Innovation Awards, 2015
o ‘Best Analytics Service/Solution
Provider’ Award in Predictive Modelling
at the World Marketing Congress, 2015
o Three awards at the World Innovation
Congress 2016. Our Digital Solutions
won awards in three categories;
• Financial Crime EDD Automation
- Best Innovation in Information
Technology Category
• MyCar - Most Innovative Product of
the year Category
• MediaHub Most Promising New
Product - Technology Category
o Five awards at the World HRD Congress
o Indian Merchants’ Chambers’
Ramakrishna Bajaj National Quality
Award 2015 in Service Category
o Positioned among Top 20 IT Service
Providers in 2015 by the Everest Group
o Positioned in Leadership zone in
Broadcasting segment by Zinnov
Platform-Based Solutions
SaaS-Based Transfer
Agency Platform
Application Development Maintenance
Application Development
Application Maintenance & Support
Application Outsourcing
Infrastructure Management Services
Business 1st Methodology
Tech & Ops Transformation
Command-centric Global Ops
Data Centre Codified
Digital Solutions
SMAC
Big Data
loT
Enterprise Integration
Cognitive Computing
Testing & Validation
Core Testing
Test Advisory
Specialised testing
Enterprise Solutions
SAP
Oracle
Microsoft
Cloud Apps
Core services supported by critical alliances, partnerships and certifications
Thought
Partnership
& Consulting
CIO Advisory
Digital Innovation
Business
Transformation
Application Strategy
Operational
Efficiency
Organisational Change
Management
9

Dear Shareholders,
These are exciting times. Industries are being disrupted, leaders
are being upended. Powered by the innovative use of technologies,
new companies are rapidly rising to the top in every sector. The
IT Services sector is not immune to this transformation and it is
undergoing a metamorphosis of its own. As someone who has
been closely involved with the evolution of this sector during the
last 25 years, I have seen more changes in the last 5 years than
I witnessed in the previous 20. Periods of such transformation
occur only once in each generation and it is my privilege to lead the
company during this remarkable phase.
Late last year, when I walked into my office for the first time at the
company’s headquarters in Mumbai, I knew I was a member of one
of the most respected conglomerates in the nation. L&T is among
the best known brands in the country and is often referred to as
the ‘Builder of India in the 21st century’. I also understood that as
L&T Infotech, we inherit much more than just our name from the
L&T Group. We derive strength, synergies, and most importantly,
the priceless asset of trust.
Message from the CEO
As we help our clients stay competitive, we are
continuing to cement our position in the industry
as a growing and financially stable organisation
Sanjay Jalona
Chief Executive Officer &
Managing Director
10

9.5%increase
Over the next few months, I met hundreds
of extremely talented people and was
inspired by their passion for achieving
client’s objectives and how well they
represent L&T values all over the world.
As I immersed myself into the company’s
operations and met with long-standing
clients across continents, I was amazed by
the depth of our relationships and respect
that we have earned for our unparalleled
industry knowledge. I was also impressed
by the tools, platforms and innovative
solutions that are saving millions of
dollars for our clients and improving their
competitiveness. I learnt about several
engagements that make us their chosen
partner. A few being:
o Establishment of ‘Smart Factory’
initiative for a Global Automotive
Original Equipment manufacturer
o Providing services in areas of Digital
Oilfield, Pipeline Management,
Digital Refinery for a Global Oil & Gas
Corporation
With deeper understanding of
engagements like these, my appreciation
for our achievements has grown manifold.
It is the strength of our digital, analytics
and automation solutions like these that
has won us several recognitions during the
year. In 2015, the Everest Group positioned
us amongst the Top 20 IT Services providers
globally, three of our Digital solutions
won recognition at the World Innovation
Congress 2016 and we were adjudged
Leaders in Digital Transformation by CEBIT,
India.
As we help our clients stay competitive,
we are continuing to cement our position
in the industry as a growing and financially
stable organisation. During the last financial
year, our revenue grew by about 9.5% in
Dollar terms to USD 887.2 million. At the
threshold of the coveted One Billion-dollar
milestone, our scale and agility makes us
the ideal partner for global companies.
We will continue to draw upon our rich
technology and real-world experience
to lead the convergence of physical and
digital ecosystems. We will help our clients
stay ahead of the technology curve by
making early investments in exponential
technologies.
We are a company with strong foundation
and tremendous potential. My role as
the CEO of L&T Infotech is to unlock this
potential and catapult the company into
the next higher orbit. As a team, we have
a once-in-a-lifetime opportunity to build
a next generation technology company,
known for its client-centricity and deep
domain understanding. We are excited
about the times ahead. We turn 20 this
year; just the right time to say goodbye to
our teenage years and commence a new
journey of transformation and growth. As
we step into this marvellous journey, I look
forward to your continued support and best
wishes.
Let’s Solve.
Sanjay Jalona
Managing Director
Our Revenue Growth
in Dollar terms over
the previous year
Corporate Overview - Message from the CEO
Our DNA
Statutory Reports
Revenue
(USD Million)
2013-14
746.6
2014-15
809.9
887.2
2015-16
11

Board of Directors
A. M. Naik is the Non-Executive Chairman of our Company.
He obtained his graduate degree in mechanical engineering from
the Birla Vishvakarma Mahavidyalaya, Sardar Patel University of
Gujarat. He has been associated with Larsen & Toubro Limited
for over five decades. He rapidly rose to secure the position of
Managing Director & CEO, followed by Chairman in 2004 and
culminating in Group Executive Chairman in 2012.
Mr. Naik is the Hon. Consul General for Denmark in Mumbai and
was awarded the Order of the Dannebrog as Knight 1st Class
by Queen Margrethe of Denmark. He has been awarded an
Honorary Degree of Doctor of Letters from Veer Narmad South
Gujarat University. Mr. Naik has made several contributions for
social upliftment and has contributed to the setting up of certain
educational facilities and hospitals such as the Kharel Education
Society, the Manibhai Nichhabhai Naik Higher Secondary School,
the Anil Naik Technical Training Centre and the Nirali Memorial
Radiation Centre. Mr. Naik has secured several global, national
and professional honours, including the “Padma Bhushan”,
“Gujarat Garima Award” – Gujarat’s highest civilian honour, “Asia
Business Leader of the Year Award” and “India’s Business Leader
of the Year Award” by CNBC Asia, “Business Leader of the Year
(Building India) Award” by NDTV Profit and “Business Leader of
the Year Award” by the Economic Times. He has been a Director
of our Company since December 23, 1996.
A. M. Naik
Non-Executive Chairman
Sanjay Jalona
Chief Executive Officer & Managing Director
Sanjay Jalona is the Chief Executive Officer & Managing Director
of our Company. He has obtained a degree of Master of Science
(Technology) in computer science from the Birla Institute of
Technology and Science, Pilani. Mr. Jalona has over 25 years
of experience in the IT industry. Prior to joining our Company,
he worked at Infosys Limited as the Executive Vice President
and Global Head of High-Tech, Manufacturing and Engineering
Services. He also served as a member of the Board of Lodestone
Holding AG, the management consulting subsidiary of Infosys in
Europe and has also chaired the Board of Infosys Technologies
(China) Company Limited and Infosys Technologies (Shanghai)
Company Limited. He was appointed as a Director of our
Company with effect from August 10, 2015 as an Additional
Director.
12

S. N. Subrahmanyan
Non-Executive Director
R. Shankar Raman
Samir Desai
Independent Director
Corporate Overview - Board of Directors
Our DNA
Statutory Reports
Samir Desai is an Independent Director of
our Company. He has obtained a post-
graduate degree in electrical engineering
from the Illinois Institute of Technology.
He also holds a post-graduate degree
in business administration from Loyola
University, Chicago. Mr. Desai has over
30 years of experience in management.
Prior to joining our Company, he worked
at Motorola for over 30 years and has also
served as a Chief Information Officer at
Motorola. He has also served as general
manager of iDEN® Networks & Devices.
He was appointed as a Director of our
Company on January 27, 2007.
R. Shankar Raman is a Non-Executive
Director of our Company. He is a qualified
Chartered Accountant. He has over 28 years
of experience in various capacities in the
field of finance. Mr. Shankar Raman joined
the L&T group on November 14, 1994 for
incorporating L&T Finance Limited. He was
appointed as the Chief Financial Officer of
L&T in September 2011 and subsequently
elevated to the board of directors of L&T
on October 1, 2011. He presently oversees
the finance functions in L&T. Mr. Shankar
Raman holds the position of director in
several companies within the L&T group.
He was ranked amongst the top three
CFOs in Asia by the Institutional Investor
magazine in the infrastructure sector in
2013 and in the industrials sector in 2014
and 2015. In 2013, Mr. Shankar Raman
won CNBC TV18’s ‘CFO of the Year Award’
and Business Today’s Best CFO Award for
Consistent Liquidity Management under
Large Companies category. He ceased to be
the Director of our Company on September
26, 2015 and was re-appointed on October
28, 2015 as an Additional Director.
S. N. Subrahmanyan is a Non-Executive
Director of our Company. He has obtained
a graduate degree in civil engineering from
the Kurukshetra University, Haryana and
has completed a post-graduate course in
business administration from Symbiosis
Institute of Business Management, Pune.
Mr. Subrahmanyan has over 30 years
of experience in the infrastructure and
construction industry. He joined the L&T
group in 1984. He is a member of the
Governing Council of the Construction
Skill Development Council of India. He is
also a member of the Board of Governors
of the National Institute of Construction
Management and Research.
Mr. Subrahmanyan is a Fellow of the
Institution of Civil Engineers - United
Kingdom. He was the Chairman of the
CII Gulf Committee for the Financial Year
2012 and was a member of the Working
Committee, Projects Exports Promotion
Council. Mr. Subrahmanyan was awarded
the “Leadership Award” by the Qatar
Contractors Forum in 2014. He was ranked
36th in the “2014 Construction Week Power
100” in the global construction sector in
a survey by international publication the
Construction Week, in its issue dated June
22, 2014. In 2012, he was awarded with
the “Outstanding Contribution to Industry
(Infrastructure)” by the Construction Week
Magazine. He was appointed as Director of
our Company on January 10, 2015.
13

M. M. Chitale
Vedika Bhandarkar
Arjun Gupta
Board of Directors
Arjun Gupta is an Independent Director of
our Company. He has obtained a graduate
degree (Phi Beta Kappa) and a post
graduate degree in computer science from
Washington State University and a post
graduate degree in business administration
from Stanford University. He was also an
Advanced Leadership Fellow from Harvard
University and a 2001 Henry Crown Fellow
from the Aspen Institute. Prior to moving
to USA, he had obtained a graduate degree
in economics (Honors) from St. Stephen’s
College, Delhi University. Mr. Gupta is the
managing partner of TeleSoft Partners, a
special situations venture capital firm he
founded in 1997. He has over 27 years
of experience working with technology
companies in venture capital, consulting
and engineering roles. Mr. Gupta was
ranked by Forbes Magazine in the Top-
100 technology venture investors on the
2006, 2007, 2008 and 2009 Midas Lists. He
serves on the boards of various companies
in USA such as Calient Technologies Inc.,
Jumpstart Games Inc. (formerly Knowledge
Adventure) and Nexant Inc.; and he is an
advisor of DocuSign. He was appointed as
an Additional Director of our Company on
October 28, 2015.
Vedika Bhandarkar is an Independent
Director of our Company. She has
obtained her graduate degree in science
from the Mohanlal Sukhadia University,
Udaipur and completed a two-year post-
graduate programme in management
from the Indian Institute of Management,
Ahmedabad. She has over 25 years
of experience in the financial services
industry. Prior to joining our Company, she
held the position of the Managing Director
and Vice-Chairman, India, of Credit Suisse
Securities (India) Private Limited (“Credit
Suisse”). She has served as the head of
Indian investment banking and global
markets solution group, India, at Credit
Suisse from July 2010 to February 2015.
She has also worked with JP Morgan India
Private Limited in India as the Managing
Director from May 1998 to July 2010.
She was appointed as a Director of our
Company with effect from March 16, 2015.
M. M. Chitale is an Independent Director of
our Company. He has obtained a graduate
degree in commerce from the University
of Mumbai. He is a qualified Chartered
Accountant. He has over 40 years of
experience as a Chartered Accountant in
practice. Mr. Chitale has been a fellow
member of the ICAI and has served as
the President of ICAI in the year 1997-98.
He was also associated as a member of
governing council of Banking Codes and
Standards Board of India. Mr. Chitale
was also the Chairman of the Ethics
Committee of the Stock Exchange, Mumbai.
He was a member of Advisory Board on
Bank, Commercial and Financial Frauds.
He was also a member of the group for
Amalgamation of Urban Co-operative
Banks. He was a member of the Working
Group on Restructuring of Weak Public
Sector Banks appointed by RBI (Verma
Committee) and the Committee on
Procedures and Performance Audit of
Public Services appointed by RBI (Dr.
Tarapore Committee) as well. He was
appointed as the Chairman of National
Advisory Committee on Accounting
Standards. He was appointed as a Director
of our Company on October 17, 2011.
14

Key Leadership Team
Chief Executive Officer & Managing Director
Sanjay Jalona
Chief Operating Officer
Aftab Ullah
Chief Financial Officer
Ashok Kumar Sonthalia
Global Human Resources Head
Manoj Biswas
Company Secretary
Subramanya Bhatt
Chief Marketing Officer
Peeyush Dubey
Chief Business Officer – Insurance & Testing, Americas
Anil Vazirani
Chief Business Officer – BFS, Americas
Harsh Naidu
Chief Business Officer – Tech, Media, CRP & Digital, Americas
Siddharth Bohra
Chief Business Officer – Manufacturing & ERP, Americas
Rohit Kedia
Chief Business Officer – Europe
Makarand Deolalkar
Chief Business Officer – Nordic Region
Sarbajit Deb
Chief Business Officer – Emerging Markets
Rajat Mathur
Corporate Vertical Heads
Corporate Overview - Board of Directors | Key Leadership Team
Our DNA
Statutory Reports
15

Corporate Information
Board of Directors
A. M. Naik
Sanjay Jalona
Managing Director
S. N. Subrahmanyan
R. Shankar Raman
Samir Desai
M. M. Chitale
Vedika Bhandarkar
Arjun Gupta
Committee Positions
Audit Committee
M. M. Chitale
Independent Director (Chairman)
Samir Desai
S. N. Subrahmanyan
Vedika Bhandarkar
Nomination and Remuneration Committee
Samir Desai
Independent Director (Chairman)
A. M. Naik
S. N. Subrahmanyan
M. M. Chitale
Stakeholders’ Relationship Committee
S. N. Subrahmanyan
Non-Executive Director (Chairman)
Vedika Bhandarkar
Sanjay Jalona
Managing Director
Corporate Social Responsibility Committee
S. N. Subrahmanyan
Sanjay Jalona
Managing Director
M. M. Chitale
Risk Management Committee
S. N. Subrahmanyan
Sanjay Jalona
Managing Director
Ashok Kumar Sonthalia
Chief Financial Officer
IPO Committee
A. M. Naik
Non-Executive Chairman (Chairman)
S. N. Subrahmanyan
Sanjay Jalona
Managing Director
Corporate Information
Registered Office of our Company
L&T House
Ballard Estate
Mumbai - 400 001
Tel: (91 22) 6752 5656
Fax: (91 22) 6752 5893
E-mail: investor@lntinfotech.com
Website: www.lntinfotech.com
Corporate Office of our Company
L&T Technology Centre, Gate No. 5,
Saki Vihar Road, Powai, Mumbai - 400 072
Tel: (91 22) 6776 6776
Fax: (91 22) 2858 1130
Auditors to our Company
M/S Sharp & Tannan
Bankers to our Company
Citibank N.A.
Standard Chartered Bank
Barclays Bank PLC
ICICI Bank Limited
The Hongkong and Shanghai Banking
Corporation Limited
Registrar & Share Transfer Agent
Link Intime India Private LimitedCorporate Identification Number:
U72900MH1996PLC104693
Registration Number: 104693
16

Key Financial Highlights
Revenue
(USD Million)
887.2
809.9
746.6
Revenue from
Continuing Operations
(` Million)
58,471
49,681
45,352
Profit After Tax from
Continuing Operations
(` Million)
9,223
7,600
6,598
Earnings Per Share
from Continuing
Operations (Diluted)
(`) 56.13
45.10
39.16
Total Headcount
(Nos.)
20,072
19,479
17,627
Clientele
(Nos.)
258
232
204
Corporate Overview - Corporate Information | Key Financial Highlights
Our DNA
Statutory Reports
2013-14 2014-15 2015-16
2013-14 2014-15 2015-16
2013-14 2014-15 2015-16
2013-14 2014-15 2015-16
2013-14 2014-15 2015-16
2013-14 2014-15 2015-16
17

Corporate Social Responsibility
As responsible corporate citizens, we share our success with our
society and communities we live and work with. The thrust areas
of our CSR initiatives are Employability through IT and soft skills
Education, Women Empowerment and the Environment.
Employability
and Education
Women
Empowerment
Today, we have 45 locations from where we
impart computer skills – the primary thrust
area. This year, 1,144 youth passed out
from 18 centres set up and dedicated for
youth for employability and 123 who were
inclined to take jobs, were placed. Another
27 computer centres were set up in schools
for teaching 3,401 school children IT
curriculum. Volunteers and partner NGOs
taught Science, English, Mathematics in
additional 11 schools-cum-study covering
17,098 children. Our projects would scale
up during the subsequent years.
We have created infrastructure to generate
recurring income for 150 women. We also
assisted 2,800 women to generate income
throughout the year from sale of their
products.
Generate recurring
income for
150women
Assisted
2,800women to generate income
1,144youth passed out
18computer centres were
set up for youth
27computer centres were set
up in schools for teaching
3,401school children enrolled in
IT curriculum
18

Let’s Share
Chennai
Flood Relief
Fresh
Initiatives
Environment and
Sustainability
1. We have helped in reconstructing
18 schools in Sadras region. This would
ensure students go back to school and
study.
2. We have helped in reconstructing
Gandhi Study Centre – a unique study
centre of Gandhian values where
thousands come to study.
3. Women Empowerment for Rural
women in Thiruvallur District.
We provided sewing machines and also
training for a year that would help them
gain their livelihood back.
4. 1Step Chennai provided school kits to
1,209 students of government schools.
5. Company and employees also
contributed to one day’s salary.
6. 1Step also supported the office staff
with relief kits.
During the last quarter of FY16, we have
launched a few scalable digital literacy
projects in partnership with leading
NGOs and educational content provider
focussed on using digital technology.
The programmes are designed such that
they are scalable allowing us to reach
the outskirts of Tier I, II, III, IV cities. But
the focus is on measurement of impact
outcomes.
1. Green Initiative-Achieved United States
Green Building Council’s LEED - Gold
Green Building Certification for Powai
office on 1st February, 2016. This
project helped in energy and water
savings, waste and e-waste streamlining
and management, switching to green
certified products and consumables, and
aiding employee comfort.
2. Occupational Health Safety Initiative-We
achieved BS OHSAS 18001: 2007
certification for Powai on 17th
December, 2015. It is aimed at
Occupational Health and Safety of all
stakeholders working in Powai.
Reconstructing
18schools in Sadras region
1Step Chennai, provided
school kits to
1,209students in government schools
Corporate Overview - Corporate Social Responsibility
Our DNA
Statutory Reports
19

Client-Centricity
At the core of everything that we think and do is
our client. We believe that satisfied and happy
clients are both our key differentiators as well
as best validators of our enduring success. We
have many clients who have trusted us to solve
problems for their critical programmes. Many of
our client-relationships are more than a decade
old, with some as long as 19 years! We will continue to strive,
to provide unmatched
client experience and
surpass their expectations.
20

Digital Leadership
The digital world is evolving at lightning speed.
Every day, newer technology and innovations
are creating applications and solutions that are
rendering yesterday’s products and solutions
redundant. In this constantly changing digital
space, we are at the forefront of adopting and
adapting to change. We are agile and responsive
to embracing cutting-edge advances. We are
launching new services and solutions, in areas of
IoT, Automation, Robotics, Big Data & Analytics
and other Digital Services, while continuing to
build on our core services. In this space, we are
also building a strong ecosystem of partners with
niche capabilities so as to be able to address a
wide spectrum of client requirements.
Our Digital competencies
span right from
Transformation advisory
through Implementation
to Operations. Our
experience ranges from
transforming supply chain
management, improving
operational efficiency, end-
to-end Business process
digitalisation, enhancing
customer experience. Our
automation competencies
range from Human Task
automation, Straight-
through processing to
Process digitalisation and
Machine intelligence.
Corporate Overview
Our DNA - Client-Centricity | Digital Leadership
Statutory Reports
21

Best Place to Learn, Evolve, Grow
Underpinning our focus on Customer-centricity and Digital
Leadership is our single-minded determination to make L&T
Infotech as the best place where top technology professionals
come together to learn, evolve and grow. We believe that it is our
PEOPLE who will create a truly global impact through a culture
of excellence and performance that will make us the preferred
partners for our clients as we continue with our Promise of -
Let’s Solve
We have always been a learning
organisation. We have an integrated Talent
Management initiative that focusses on
career-building for our employees, on
both domain skills-related learning and
leadership skills. We have embarked
upon a People Manager journey aimed at
building better line managers and directly
improving the engagement level of the
team members.
L&T INFOTECH VALUES – FOUNDATION FOR SUCCESS
Meritocracy & Fair play | Dependability | Passion | Team Work | Innovation | Agility | Integrity
o Campus hiring
o Experienced hiring
Talent Acquisition
Total Rewards
o Awards
o Rewards
Talent Development
o Top talent management
o Performance Management System
o Employee development & Enrichment
o Employee engagement
Digital and Analytics
o HR systems
o Predictive analytics
o HR Social strategy
PEOPLE
TRANSFORMATION
STRATEGY
Create an integrated
Global HR framework to enable
growth through Innovation,
Excellence and Employee
engagement
22

Corporate Overview
Our DNA - Best Place to Learn, Evolve, Grow
Statutory Reports
People
Manager Journey
The People Manager Journey is a focussed
programme for first line managers. The
programme helps delivery track to build
awareness and provide a framework for
competency development in order to
enable line managers to be effective and
accountable people managers by:
o Engaging employees, enable learning
and adaptability to change
o Ensuring clarity of goals and role
expectations within the team and
driving performance
o Establishing two-way communication
with employees for continuous
improvement & development
o Managing highest level of compliance
within the team in all aspects of
operations
The programme uses blended learning to
ensure maximum reach and learning.
Building and Grooming Leaders
The success of any organisation lies in the strength of its leadership.
L&T Infotech has reinforced its stature as a company that prides itself on developing
leadership competencies of its talent pool across the board, employing creative
methodologies.
We focus on building and grooming talent through a bouquet of programmes aimed at
building leadership capabilities. These are categorised into role-based, cadre/strata-based,
location-based and competency-based offerings.
Through strategically planned interventions, we aim at improving the efficiency and
efficacy of our business operations. Our interventions are steered to increase the overall
effectiveness of our Business Units (BU) by identifying the root cause of challenges faced
by them, aligning their strategies with our organisation’s goal, co-creating solutions and
thereby partnering with Business Units (BUs) to reach a shared vision. We serve as an
internal consultant, fulfilling the requirements of our Business Units (BUs).
Leadership and Talent
Development
Behavioural
Training
Leadership
Development Programmes
o Leadership Journeyman
Programme Series
o Leadership Express
Modules
o Talent Guru
o Competency Suite
Programmes
Development
Programmes for
High-Performers
o HR FLAME Programme
o Leadership Excellence
Programme
Role/BU Specific
Programmes for Account
Management
o Excellence
o Empowered Managers
Programme
o People Manager
Journey
o OD Interventions
BU Specific
Customised Programmes
Calendar
Behavioural Offerings
Project Need
Based Programmes
23

Best Place to Learn, Evolve, Grow
Enhancing Capabilities of Employees by Aligning
Specific Role-based Competencies
Aligning the skill-sets and talents of our people based on competencies is a key focus area
to unlock the capabilities of our people.
Niche Skill
development
programmes:
Strategic skill development
programmes were offered such as:
o Power Programmer
o Effective Proposal writing
o Lean Kanban
o ITIL
o TOGAF- Enterprise Architecture
o Supply Chain Management
V-Learn – A one-stop
shop for all training
activities and process:
This was an automation project for
automating all learning process and
activities online.
o Training and Assessment
catalogues
o Training records
o Online Training Feedback
o Raising training requests
o Training certificate of attendance
o Certification and assessment
records
o Certification reimbursement
Role-based
Competency
development
offerings:
Role-based competency programme
offerings include competency
development in areas such as:
o Business Analyst
o Project Management
o Programme Management
o Software Architect
24

Corporate Overview
Our DNA - Best Place to Learn, Evolve, Grow
Statutory Reports
Managing
within
constraints
and realities
Difficult
conversations,
including
feedback
Understanding
team
aspirations
Balancing
people
management
within Project
Delivery
Manage self
to manage
expectations
of all
stakeholders
Expand circle
of influence
Key Focus
Areas
Empowered
Managers Programme:
Empowered Managers Programme is a
role-based initiative designed to enhance
the people management skills of managers.
Objective of the Programme is:
o Enhancing understanding of HR
people policies & processes
o Examining current people
management approach in creating
enhanced performance in
business through effective people
management
o Embracing self-development for
improved people performance at
work place
25

26
Your Directors have pleasure in presenting the Annual Report along with the Audited Financial Statements of Larsen & Toubro Infotech
Limited for the year ended March 31, 2016.
FINANCIAL RESULTS
(` Million)
Particulars
Unconsolidated Consolidated
2015-16 2014-15 2015-16 2014-15
Revenue from operations 55,695.20 47,444.03 58,470.60 49,780.36
Other Income 3,386.06 887.80 2,959.61 915.00
Total Income 59,081.26 48,331.83 61,430.21 50,695.36
Operating Profit 12,669.79 10,436.79 13,315.76 10,959.57
Less: Finance Cost 103.57 104.18 103.57 104.19
Less: Depreciation and amortization 1,034.48 907.30 1,739.52 1,579.40
Profit before extraordinary items and tax 11,531.74 9,425.31 11,472.67 9,275.98
Extraordinary item - - - 93.95
Profit Before Tax (PBT) 11,531.74 9,425.31 11,472.67 9,369.93
Less: Provision for Tax 2,150.43 1,695.69 2,249.61 1,682.77
Profit for the year before minority interest 9,381.31 7,729.62 9,223.06 7,687.16
Minority Interest - - 1.29 1.90
Profit for the year (PAT) 9,381.31 7,729.62 9,221.77 7,685.26
Add: Balance brought forward from previous year 13,453.81 11,445.86 14,193.21 12,229.63
Add: Profit and loss account of ISRC on amalgamation 100.58 - - -
Add: Transfer due to amalgamation (pertaining to period
October 17, 2014 to March 31, 2016) 27.35 - - -
Balance available for disposal which Directors appropriate as
follows: 22,963.05 19,175.48 23,414.98 19,914.89
Less: Depreciation & Deferred tax charged to retained earnings - 10.10 - 10.10
Interim Dividends (excluding tax) 5,467.30 4,805.25 5,467.30 4,805.25
Proposed Dividend* (excluding tax) 441.52 - 441.52 -
Tax on Dividends (interim & proposed) 1,106.73 906.32 1,106.73 906.32
Balance to be carried forward 15,947.50 13,453.81 16,399.43 14,193.22
* The Directors recommend payment of final dividend of ` 2.60 per equity share of ` 1 each on 169,816,188 equity shares.
DIRECTORS’
REPORT

27
PERFORMANCE OF THE COMPANY
STATE OF COMPANY AFFAIRS
On unconsolidated basis, revenue from operations and other income
for the financial year under review were ` 59,081.26 Million as against
` 48,331.83 Million for the previous financial year registering an
increase of 22.2%. The profit before tax was ` 11,531.74 Million and
the profit after tax was ` 9,381.31 Million for the financial year under
review as against ` 9,425.31 Million and ` 7,729.62 Million respectively
for the previous financial year. There were no material changes and
commitments affecting the financial position of the company, between
the end of the financial year and the date of the report.
On consolidated basis, revenue from operations and other income for
the financial year under review were ` 61,430.21 Million as against
` 50,695.36 Million for the previous financial year registering an increase
of21.2%.Theprofitbeforetaxwas` 11,472.67Millionandtheprofitafter
tax was ` 9,221.77 Million for the financial year under review as against
` 9,369.93 Million and ` 7,685.26 Million respectively for the previous
financial year. There were no material changes and commitments
affecting the financial position of the company, between the end of the
financial year and the date of the report.
SEGMENTAL PERFORMANCE
During the year, the Company had two Business Segments namely,
Services Cluster and Industrials Cluster of which contribution
to the revenue was 52.4% (previous year 51.6%) from Services
Cluster and 47.6% (previous year 48.4%) from Industrials Cluster,
on unconsolidated basis. On consolidated basis, the contribution
to the revenue was 53.9% (previous year 52.8%) from Services
Cluster, 46.1% (previous year 47.0%) from Industrials Cluster
and 0.0% (previous year 0.2%) from Telecom (PES Discontinued
Business).
The detailed segmental performance is referred in Note No. T(9) of
the Notes forming part of the unconsolidated financial statements
and T(6) of the consolidated financial statements provided in this
Annual Report.
GEOGRAPHICAL PERFORMANCE
The Revenue contribution of the Company from the various
Geographies is mentioned herein below:
Unconsolidated
S. N. Geography 2015-16 2014-15
1 North America 68.6% 67.5%
2 Europe 17.4% 18.6%
3 Asia Pacific 2.1% 2.5%
4 India 6.1% 4.4%
5 Rest of the World 5.8% 7.0%
Corporate Overview
Our DNA - Performance Highlights
Statutory Reports - Directors’ Report
Consolidated
S. N. Geography
Revenue from continuing
business
Revenue from discontinued
business
Total Revenue
2015-16 2014-15 2015-16 2014-15 2015-16 2014-15
1 North America 69.0% 68.6% - - 69.0% 68.5%
2 Europe 17.4% 17.9% - 100.0% 17.4% 18.0%
3 Asia Pacific 2.0% 2.4% - - 2.0% 2.4%
4 India 5.8% 4.2% - - 5.8% 4.2%
5 Rest of the World 5.8% 6.9% - - 5.8% 6.9%
INITIAL PUBLIC OFFERING OF YOUR COMPANY
During the year ended March 31, 2016, your Company had filed Draft
Red Herring Prospectus (‘DRHP’) with the Securities & Exchange
Board of India (‘SEBI’) for the proposed Initial Public Offer (‘IPO’)
of your Company through an Offer for Sale (‘the Offer’) by Larsen
& Toubro Limited. Due to change in the Offer structure and other
considerations, the said DRHP was withdrawn on April 11, 2016 and
pursuant to the approval of the IPO Committee, the Company has
filed a revised DRHP on April 12, 2016.
CAPITAL EXPENDITURE
On unconsolidated basis, as at March 31, 2016, the gross fixed
and intangible assets stood at ` 8,419.33 Million (previous year
` 7,910.24 Million) out of which assets amounting to ` 1,014.19
Million (previous year ` 1,377.63 Million) were added during
the year.
On consolidated basis, as at March 31, 2016, the gross fixed and
intangible assets stood at ` 14,209.88 Million (previous year
` 13,379.21 Million) out of which assets amounting to ` 1,346.97
Million (previous year ` 2,243.52 Million) were added during
the year.
DIVIDEND
The Directors recommend payment of final dividend of ` 2.60 per
equity share of ` 1 each on the share capital.

28
The total dividend on equity shares including interim dividend and
proposed dividend for the year ended March 31, 2016 would aggregate
to ` 5,908.82 Million (previous year ` 4,805.25 Million) and outflow
towards dividend distribution tax would aggregate to ` 1,106.73 Million
(previous year ` 906.32 Million).
TRANSFER TO RESERVES
The Directors do not propose to transfer any amount to reserve.
DEPOSITS
During the year ended March 31, 2016, the Company has not
accepted any public deposits and as such, no amount on account
of principal or interest on public deposits was outstanding as on the
date of the Balance Sheet.
PEOPLE
We continue on the journey to make the Company the best place
to learn and grow. This year we have laid emphasis on personal
development and growth of our employees, besides focusing on
hiring, engaging and retaining key talent. In order to do so, we
have initiated the process of capturing the development needs of
employees in our Performance Management System.
The Company has put in efforts to continuously simplify all people
policies and make them more current and transparent, by seeking
inputs from employees, in order to retain our best talent across the
globe and build a pipeline of leaders.
We continue to recruit top talent and also recruit from top
Universities. We also focus to foster gender diversity in our
recruitment drive. This year we have launched a program titled -
‘Catalyst’, to hear the voice of the employees and provide them an
opportunity to shape their workplace.
The Directors express their appreciation to all the employees of the
Company for their outstanding contribution to the operations of the
Company during the year.
INFRASTRUCTURE
The Company has been expanding its facilities to keep pace with
revenue growth. Emphasis has been on adding capacity in SEZ locations
for the new & incremental business. The new units at Mindspace SEZ-
Airoli, Hinjewadi-Pune and DLF SEZ Chennai were made operational
during the year ended March 31, 2016. Total capacity at Indian centers
stands at 21,585 Seats as on March 31, 2016.
BRANDING
Brand ‘L&T Infotech’ has grown steadily across the globe, riding
strongly on the value added to its Global clients in terms of
enabling them build innovative business models, enhance operational
efficiencies, and creating captivating experiences for their customers.
This has significantly enhanced your Company’s visibility across
new industry sectors, new prospects, and also with the Analyst
Community.
Your Company’s ability to solve complex business challenges at
the convergence of digital and physical with real-world expertise,
leadership in domain and technology, and building the best
organization to learn & grow will help create the Company to be
No.1 in Client-centricity. This will further enhance your Company’s
brand value as one of the most recognized IT companies in
the world.
QUALITY INITIATIVES
Quality is an all-pervasive commitment of the Company. We
translate this commitment into seamless service delivery for our
clients. The vision of improvement in Quality and delivery is driven
from top to bottom across the organization. We have added new
certifications along with sustaining existing ones.
The Company was successfully appraised for CMMI SVC Level 5
in September 2015 for Application support and Infrastructure
Management services. The focus for the year was to mature the
application support and Infrastructure management services.
Effective tools, techniques and predictive models are built and
deployed for estimation and project management decision
making. Statistical techniques are deployed for monitoring
the key project processes. The Company continues to maintain
and is now ready to be re-appraised for CMMI Dev Level 5 in
May 2016.
The Company continues to adhere to International quality
certifications, namely ISO9001:2008, ISO/IEC27001:2013,
ISO14001:2004 & ISO/IEC20000-1:2011 through a combined
external audit conducted by Bureau Veritas. As per specific client
needs and requirements, your company has sustained the ISAE3402
certification for projects of Insurance domain across Business Units
and few specific client engagements.
We continue to deliver value to our clients through continuous
improvements and value additions. The company has adopted
various initiatives such as Lean methodology levers and Extreme
Automation to optimize delivery execution and improve
productivity. These initiatives are governed and monitored
through dashboards and periodic reviews at various levels. On
an ongoing basis, we conduct project level and Leadership level
client satisfaction surveys to assess the client expectations. Survey
results are analyzed to arrive at action plans and initiatives to
improve client experience.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Board has constituted CSR Committee in terms of the
requirements of the Companies Act, 2013. The details relating to
the same are given in Annexure H.

29
The Annual Report on CSR is annexed as Annexure A to
this Report. CSR Policy of the Company is available on the Company’s
website http://www.lntinfotech.com/aboutus/Corporate_social_
responsibility.html.
CORPORATE SUSTAINABILITY
Green Initiative
During the year, the Company achieved United States Green Building
Council’s LEED - Gold Green Building Certification for Powai office
in February 2016. This project helped in energy and water savings,
waste and e-waste streamlining and management, switching to green
certified products and consumables, and aiding employee comfort.
Occupational Health Safety Initiative
We achieved BS OHSAS 18001:2007 certification for Powai in
December 2015. It is aimed at Occupational Health and Safety of all
stakeholders working in Powai.
DIRECTORS & KEY MANAGERIAL PERSONNEL
A. Appointment/ Re-appointment:
During the year, following appointments were made on the Board:
a. Mr. Sanjay Jalona as the Chief Executive Officer Managing
Director of the Company w.e.f. August 10, 2015 to August 09,
2020. Mr. Jalona, appointed as an Additional Director, will hold
office till the ensuing Annual General Meeting (AGM) and is
eligible for appointment.
b. Mr. Arjun Gupta as an Independent Director of the Company
w.e.f. October 28, 2015 to October 27, 2020, subject to the
approval of the shareholders. Mr. Gupta, appointed as an
Additional Director, will hold office till the ensuing AGM and is
c. Mr. R. Shankar Raman as a Non-Executive Director of the
Company w.e.f. October 28, 2015, subject to the approval
of the shareholders. Mr. Shankar Raman, appointed as an
Additional Director, will hold office till the ensuing AGM and is
Mr. A. M. Naik, Director of the Company, retires by rotation and being
eligible, offers himself for re-appointment at the ensuing Annual
General Meeting of the Company.
The notice convening the AGM includes the proposal for
appointment/ re-appointment of Directors.
B. Cessation:
a. Mr. K. R. L. Narasimham ceased to be an Executive Director of
the Company w.e.f. April 08, 2015.
b. Mr. Sunil Pande ceased to be an Executive Director of the
Company w.e.f. August 26, 2015.
c. Mr. Chandrashekara Kakal ceased to be an Executive Director
of the Company w.e.f. August 27, 2015.
d. Mr. V. K. Magapu ceased to be the Managing Director of the
Company w.e.f. September 26, 2015.
e. Mr. R. Shankar Raman ceased to be a Director of the Company
w.e.f. September 26, 2015.
The Board places on record valuable contribution made by the
Directors during their tenure.
C. Key Managerial Personnel:
The following were the changes in the Key Managerial Personnel:
a. Ms. Angna Arora ceased to be the Company Secretary w.e.f.
May 08, 2015.
b. Mr. P. S. Kapoor was appointed as Head-Finance Accounts
Company Secretary w.e.f. May 08, 2015 and was designated
as the Chief Financial Officer. He ceased to be Head-Finance
Accounts Company Secretary and also the Chief Financial
Officer w.e.f. August 26, 2015.
c. Mr. Ashok Kumar Sonthalia was appointed as Head-Finance
Accounts w.e.f. August 26, 2015 and has been designated as
the Chief Financial Officer.
d. Mr. Subramanya Bhatt was appointed as the Company
Secretary w.e.f. August 26, 2015.
DIRECTORS’ RESPONSIBILITY STATEMENT
The Board of Directors hereby confirm that:
(i) in the preparation of the annual accounts, the applicable
accounting standards have been followed and there has been
no material departure;
(ii) the Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company as on March 31, 2016 and of the
profit of the Company for the year ended March 31, 2016;
(iii) the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance
withtheprovisionsoftheCompaniesAct,2013forsafeguarding
the assets of the Company and for preventing and detecting
fraud and other irregularities;
(iv) the Directors have prepared the annual accounts on a going
concern basis; and
(v) the Directors had devised proper systems to ensure compliance
with the provisions of all applicable laws and that such systems
were adequate and operating effectively.
STATUTORY AUDITORS
The Auditors, M/s. Sharp Tannan, hold office until the conclusion
of the ensuing Annual General Meeting. A certificate from them has
beenreceivedtotheeffectthattheirre-appointment,ifmade,would
Corporate Overview

30
be in line with the requirement laid under section 139 141 of the
Companies Act, 2013. The Board, based on the recommendation of
the Audit Committee, recommends the appointment of M/s. Sharp
Tannan as Auditors of the Company from the conclusion of the
ensuing AGM until the conclusion of the next AGM.
The Auditor’s Report to the Shareholders does not contain any
qualification and therefore does not call for any comments from
Directors.
CONSOLIDATED FINANCIAL STATEMENTS
The Consolidated Financial Statements pursuant to Section 129(3)
of the Companies Act, 2013, prepared in accordance with the
Accounting Standards prescribed by the Institute of Chartered
Accountants of India, forms part of this Annual Report. The Auditors
report to the shareholders does not contain any qualification,
observation or adverse comment.
SECRETARIAL AUDITOR
The Secretarial Audit Report issued by Ms. Naina Desai, Practicing
Company Secretary does not contain any qualification and is
annexed as Annexure B to this Report.
DEPOSITORY SYSTEM
As on March 31, 2016, 99.23% of the Company’s total paid-up
capital representing 168,511,518 shares are in dematerialized
form. In view of the numerous advantages offered by the
Depository system, members holding shares in physical mode are
advised to avail of the facility of dematerialization from either of
the depositories.
CHANGES IN SHARE CAPITAL
During the year, the following changes have occurred in the
authorised and the paid-up equity share capital of the Company:
a. The authorised share capital of the Company was sub-divided
from 32,750,000 equity shares of ` 5 each to 163,750,000
equity shares of ` 1 each. Consequently, the paid up share
capital was also sub-divided from 32,250,000 equity shares of
` 5 each fully paid-up to 161,250,000 equity shares of ` 1 each
fully paid-up. The sub-division was effected from June 22, 2015.
b. The authorised share capital was increased from
` 163.75 Million divided into 163,750,000 equity shares of
` 1 each to ` 200.00 Million divided into 200,000,000 equity
shares of ` 1 each with effect from June 22, 2015.
c. The authorised share capital was further increased to
` 240.00 Million divided into 240,000,000 equity shares
of ` 1 each, pursuant to the Scheme of Amalgamation of
Information Systems Resource Centre Private Limited with
the Company becoming effective from September 21, 2015.
However, there was no change in the paid-up share capital
pursuant to the scheme.
d. During the year 8,566,188 equity shares were allotted on
exercise of the vested options under the employees stock
options schemes of the Company. Hence, the paid-up share
capital of the Company increased from ` 161.25 Million to
` 169.82 Million.
DISCLOSURES UNDER THE COMPANIES ACT, 2013
1. EXTRACT OF ANNUAL RETURN
The details forming part of the extract of annual return is
annexed as Annexure C to this Report.
2. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS
The Board of Directors met 6 (six) times during the financial
year. The details of the Board meetings and the attendance
of Directors are provided in Annexure H - Report on
Corporate Governance Report forming part of this Annual
Report.
3. AUDIT COMMITTEE
The Board has constituted the Audit Committee in terms
of the requirements of the Companies Act, 2013 and SEBI
(Listing Obligations and Disclosure Requirements)
Regulations, 2015. The details relating to the same are given
in Annexure H.
In accordance with the requirements of the Companies Act,
2013, the Company has in place a vigil mechanism framework
for directors and employees to report genuine concerns.
4. RELATED PARTY TRANSACTIONS
The Audit Committee and the Board of Directors have
approved the Related Party Transactions Policy and all the
related party transactions have been entered in accordance
thereof and were in the ordinary course of business and at
arm’s length. The details of material contracts or arrangement
or transactions at arm’s length basis as per Form AOC-2 as per
Companies (Accounts) Rules, 2014 is annexed as Annexure D
to this report.
5. SUBSIDIARY/ ASSOCIATE/ JOINT VENTURE COMPANIES
As at March 31, 2016, the Company has 9 subsidiaries including
a Joint Venture. There has been no material change in the
nature of the business of subsidiaries.
During the year ended March 31, 2016, the Company subscribed
to/acquired equity shares in subsidiary companies as under:

31
A) Shares acquired:
Name of the Company Type of
Shares
No. of
shares
Larsen Toubro Infotech Austria GmbH Equity N. A.*
LT Information Technology Spain SL Equity 50,000
*Note: The amount of investment made by the Company is EURO 35,000
which is also reflected in Annexure E to this report. As per the local
regulations in Austria, the entity being a limited liability company, no share
certificate is required to be issued.
B) Equity shares sold/transferred:
Name of the Company Number of shares
Nil Nil
C) Performance and Financial Position of each subsidiary/
associate and joint venture companies:
A statement containing the salient features of the financial
statement of subsidiaries/ associate/ joint venture companies
as per form AOC-1 is annexed as Annexure E to this Report.
During the year ended March 31, 2016, operations of following
subsidiaries were reviewed and a restructuring process was
carried out:
AMALGAMATION OF ISRC WITH THE COMPANY
Ø Pursuant to the Scheme of Amalgamation sanctioned by the
Hon’ble High Court of Bombay vide its order dated September 04,
2015,InformationSystemsResourceCentrePrivateLimited(ISRC)
was amalgamated with the Company with effect from September
21, 2015. The appointed date for the Scheme was October 17,
2014. Consequently, the entire business, assets, liabilities, duties
and obligations of ISRC have been transferred to and vested in the
Company with effect from October 17, 2014.
Ø ISRC was engaged in the business of software services with
respect to application development, information technology
support and maintenance services to OTIS Elevator Company,
USA and other companies of UTC group and was acquired by
the Company on October 16, 2014.
AMALGAMATION OF GDA TECHNOLOGIES LIMITED WITH THE
COMPANY
Ø The Board of Larsen Toubro Infotech Limited and GDA
Technologies Limited in their meetings held on October 17,
2014, respectively, approved the Scheme of amalgamation of
GDA Technologies Limited with the Company under Section
391 to 394 of the Companies Act, 1956. The Hon’ble High
Court of Bombay has sanctioned the Scheme of Amalgamation
vide its order dated April 01, 2016. The approval of the Scheme
by the Hon’ble High Court of Madras is awaited. The appointed
date for the proposed scheme is April 1, 2016.
6. PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE,
GUARANTEES GIVEN OR SECURITY PROVIDED
The Company has disclosed the full particulars of the loans given,
investments made or guarantees given or security provided in the
notes forming part of the financial statements provided in this
Annual Report.
7. EMPLOYEE STOCK OPTION SCHEMES
The disclosure relating to the Employee Stock Option Schemes
of the Company as required under the Companies Act, 2013
and rules made thereunder is annexed as Annexure F to
this Report.
Pursuant to the resolution passed by the Board on July 27, 2015
and the shareholders on September 14, 2015, the Company
has instituted the Larsen Toubro Infotech Limited Employee
Stock Option Scheme, 2015 (“ESOP Scheme, 2015”) for issue
of options to eligible employees which may result in issue of
Equity Shares of up to 8,062,500 equity shares of face value of
` 1 each. Under the ESOP Scheme 2015, no options have been
granted as on the date of this report.
8. COMPANY POLICY ON DIRECTOR APPOINTMENT AND
REMUNERATION
The Company has constituted the Nomination and
Remuneration Committee (NRC) in accordance with
the requirements of the Companies Act, 2013 and
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The details relating to the same are
given in Annexure H.
The Committee has formulated a policy on Director’s
appointment and remuneration including recommendation
of remuneration of key managerial personnel and the
criteria for determining qualifications, positive attributes and
independence of a Director.
9. DECLARATION BY INDEPENDENT DIRECTORS
The Company has received Declaration of Independence from
its Independent Directors as stipulated under Section 149(7)
of the Companies Act, 2013 confirming that they meet the
criteria of Independence.
10. INDEPENDENT DIRECTORS MEETING
The meeting of the Independent Directors was held on January
22, 2016, as per schedule IV of the Companies Act, 2013.
11. COMPLIANCE WITH SECRETARIAL STANDARDS
The Company has complied with Secretarial Standards issued
by the Institute of Company Secretaries of India on Board
Meetings and Annual General Meetings.
Corporate Overview

32
12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,
FOREIGN EXCHANGE EARNINGS AND OUTGO
Information as per Section 134 of the Companies Act, 2013
read with Rule 8 of the Companies (Accounts) Rules, 2014
relating to conservation of energy, technology absorption,
foreign exchange earnings and outgo is given in Annexure G to
this report.
13. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY
THE REGULATORS OR COURTS OR TRIBUNALS
During the year under review, there were no material
and significant orders passed by the regulators or courts
or tribunals impacting the going concern status and the
Company’s operations in future.
CORPORATE GOVERNANCE REPORT
A report on Corporate Governance is annexed as Annexure H to this
Report.
ACKNOWLEDGEMENTS
The Directors thank the Company’s customers, vendors and
academic institutions for their support to the Company. The
Directors also acknowledge the support and co-operation from the
Government of India and the Governments of various countries, the
concerned State Governments and other Government Departments
and Governmental Agencies. The Directors appreciate and value the
contributions made by every member of the LT Infotech family
globally.
For and on behalf of the Board
Sanjay Jalona R. Shankar Raman
Chief Executive Officer Director
Place: Mumbai Managing Director (DIN: 00019798)
Date: April 26, 2016 (DIN: 07256786)

33
Annual Report on Corporate Social Responsibility (CSR) Activities
for FY16
1. A brief outline of the Company’s CSR policy, including overview
of projects or programs proposed to be undertaken and a
reference to the web-link to the CSR policy and projects or
programs.
The Company’s primary focus is on ‘Computer Literacy Education’
for employment as part of its CSR programme which includes,
amongst others, the following verticals:
a) Skills Development Employability - may include but not
limited to programmes covering computer literacy and training
programmes for employability for disadvantaged youth.
b) Education - may include but not limited to support to
educational institutions, educational programmes nurturing
talent at various levels for disadvantaged youth.
c) Educational aids - supporting differently-abled and other
students by providing IT infrastructure support for specific
programmes.
d) Environment - may include but not limited to programmes for
conservation and preservation of environment.
e) Women Empowerment - supporting eligible NGOs with
infrastructure and facilitating market reach.
Duringtheperiodunderreview,theCompany’sCSRinitiative“1Step”
organized several projects in the above thrust areas, as per details
given below. But the most important aspect was level of involvement
of CSR team and volunteers at every step of these projects that gives
us a close understanding of the community issues and the goals we
are trying to meet. This way of working also allowed us to learn a lot
on how to handle projects. The experience from these interactions
would help us when we are scaling up projects in FY17.
IT Skills and Education
Overall we now have 45 locations (12 in FY15) from where we impart
computer skills – the primary thrust area. From these 45, 18 centers
are set-up and dedicated for youth for employability. From these
centers 1,144 (320 From FY15) youth passed out and 123 who were
inclined to take jobs were placed. The balance 27 computer centers
were set up in schools for teaching IT curriculum and covered 3,401
school children (300 during FY15).
ANNEXURE A TO THE DIRECTORS’ REPORT
Corporate Overview
Statutory Reports - Director’s Report | Annexures
Financial Statements - Consolidated Cash Flow Statement
Volunteers and partner NGOs taught Science, English and Maths in
additional 11 schools-cum-study covering 17,098 children (3,902
during FY15). Kindly see Table 1 below.
We have added higher level of IT courses covering popular financial
package in India and also value added course on computer hardware
and networking.
We have set up projects in Q4FY16 which would scale up during
subsequent years and thus take us closer to the target spend
on CSR.
These projects launched in Q4FY16 leverage internet, audio /
video technologies, open source software and are based on unique
engagement models including community learning, which are aimed
at employment through digital literacy. Further the technology
now allows us to do projects in locations away from our office
locations where CSR interventions are needed but are otherwise not
possible. But in such locations we do depend and involve the local
community.
Women Empowerment
As part of woman empowerment program we have created
infrastructure to generate recurring income for 150 women. We
also assisted 2,800 women to generate income throughout the year
from sale of their products.
Visually impaired youth
For visually impaired youth; volunteers record audio books from
text books which enables them to access study material through
these audio books. The number of Talking Books recorded so far
were 58 (30 in FY15). The audio books reached 4,500 students who
were directly benefitted from it. Volunteers also wrote examination
papers of competitive examinations and assisted them in
getting jobs.
Employee volunteering and beneficiaries
During the year 4,576 Volunteers (3,442 in FY15) of 1Step, LT
Infotech employee-volunteering program, participated in all the
above projects. The hours contributed by them were 11,852. Last
year we were advised to monitor volunteering hours which we
started this year. 1Step projects directly impacted 35,258 (18,282
in FY15) beneficiaries.

34
Table 1
Particulars
For Financial Year
2016 2015
Total Youth School
Children
Total Youth School
Children
Computer skills
project
Number of computer center locations 45 18 27 12 6 6
Beneficiaries 4,545 1,144 3,401 620 320 300
Educational programs covering Science, Maths, and
English – Beneficiaries
17,098 - 17,098 3,902 - 3,902
Talking Books for Visually impaired – Number of books 58 30
Talking Books for Visually impaired – Number of
beneficiaries
4,500 3,500
Total Beneficiaries 35,258 18,282
Volunteers 4,576 3,442
2. The Composition of the CSR Committee:
(i) Mr. S. N. Subrahmanyan - Chairman
(ii) Mr. Sanjay Jalona - Member
(iii) Mr. M. M. Chitale - Member
3. Average net profit of the Company for last three financial years: ` 7,473.72 Million
4. Prescribed CSR Expenditure (two per cent of the amount as in item 3 above): ` 149.47 Million
5. Details of CSR spent during the financial year:
i. Total amount spent for the financial year : ` 23.45 Million
ii. Amount unspent, if any : ` 126.02 Million
iii. Manner in which the amount spent during the financial year : attached
6. In case the Company has failed to spend the two per cent of the average net profit of the last three financial years or any part thereof,
the Company shall provide the reasons for not spending the amount in its Board report.
The objective of our CSR Policy is to create a visible impact in the focus areas for the beneficiaries and not just spending the requisite
amount. The Company has made efforts to identify projects in line with its CSR focus areas. However, the Company could not spend the
requisite money as considerable time is taken in evaluating and implementing projects that are closer to beneficiaries.
The Company since last year has been working in collaboration with credible partners and other stakeholders and has identified and
built a pipeline of such projects.
The implementation of initial batch of projects has begun in Q4FY16. These projects have the potential to scale up during subsequent
years. Further, we will pick up new projects for implementation from the already identified projects in the pipeline. Together it would
help us in meeting to our target spend on CSR.
7. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR
objectives and Policy of the Company.
The CSR Committee hereby affirms that:
• The Company has duly formulated a CSR Policy Framework which includes formulation of a CSR Theme, CSR budget and roles and
responsibilities of the Committee, CSR team formed for implementation of the CSR policy;
• The Company has constituted a mechanism to monitor and report on the progress of the CSR programs;
The activities undertaken by the Company as well as the implementation and monitoring mechanisms are in compliance with its CSR
objectives and CSR policy its Framework.
S. N. Subrahmanyan Sanjay Jalona
Director Chief Executive Officer
Chairman – CSR Committee Managing Director
(DIN: 02255382) (DIN: 07256786)

35
5 (iii) Manner in which the amount spent during the financial year is detailed below: (in ` Million)
S.N. CSR Project
or activity
identified
Sector in
which the
project is
covered
Projects or programs
1) Local area or other
2) Specify the State and
District where project
was undertaken
Amount
Outlay
(Budget)
project or
programs
wise
Direct
expenses
Overheads Cumulative
Expenditure
up to the
reporting
period
Amount spent:
Direct or through
implementing
agency
1 Computer
Skills
Education Mumbai, Navi Mumbai,
Pune, Maharashtra,
Bangalore, Chennai,
Karnataka and Tamil
Nadu
11.76 6.61 0.39 7.00 Direct, Pratham
NGO
2 Educational Education Mumbai, Navi Mumbai,
Maharashtra, Wai,
Mangaon, Bilaspur,
Chennai, Karnataka,
Chhatisgarh and Tamil
Nadu
13.24 8.53 0.39 8.92 Direct, Adhyayan
NGO, Sevalaya
NGO
3 Women
empowerment
Women
empowerment
Maharashtra and Tamil
Nadu
3.60 0.89 0.39 1.28 Aarambh NGO,
Sevalaya NGO
4 Environment
projects
Environment
projects
Maharashtra, Karnataka,
Tamil Nadu and Rajasthan
1.70 0.10 - 0.10 Say Trees NGO,
Pariyavaran Shala
NGO
5 Nepal
Earthquake
Relief *
Prime
Minister's
National Relief
Fund
- - 6.15 - 6.15 Direct
Total 30.30 22.28 1.17 23.45
NOTE: * The contribution towards Nepal Earthquake Relief fund includes contribution made by Information Systems Resource Centre Private Limited, which
got amalgamated with the Company with effect from September 21, 2015.
Corporate Overview

36
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED MARCH 31, 2016
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration Personnel)
Rules, 2014]
ANNEXURE B TO THE DIRECTORS’ REPORT
Form No. MR-3
To,
The Members,
LARSEN TOUBRO INFOTECH LIMITED
I have conducted the secretarial audit of the compliance of
applicable statutory provisions and the adherence to good corporate
practices by LARSEN TOUBRO INFOTECH LIMITED (hereinafter
called the Company). Secretarial Audit was conducted in a manner
that provided me a reasonable basis for evaluating the corporate
conduct/ statutory compliances and expressing my opinion thereon.
Based on my verification of the Company’s books, papers, minute
books, forms and returns filed and other records maintained by the
Company and also the information provided by the Company, its
officers, agents and authorized representatives during the conduct
of secretarial audit, I hereby report that in my opinion, the company
has, during the audit period covering the financial year ended
on March 31, 2016, complied with the statutory provisions listed
hereunder and also that the Company has proper Board-processes
and compliance-mechanism in place to the extent, in the manner
and subject to the reporting made hereinafter.
I have examined the books, papers, minute books, forms and returns
filed and other records maintained by the Company for the financial
year ended on March 31, 2016 according to the provisions of:
(i) The Companies Act, 2013 (the Act) and the rules made
thereunder;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and
the rules made thereunder;
(iii) The Depositories Act, 1996 and the Regulations and Bye-laws
framed thereunder;
(iv) Foreign Exchange Management Act, 1999 and the rules
and regulations made thereunder to the extent of Foreign
Direct Investment, Overseas Direct Investment and External
Commercial Borrowings;
(v) The following Regulations and Guidelines prescribed under the
Securities and Exchange Board of India Act, 1992 (‘SEBI Act’),
as applicable:-
a) The Securities and Exchange Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations, 2011;
b) The Securities and Exchange Board of India (Prohibition
of Insider Trading) Regulations, 1992; presently,
(Prohibition of Insider Trading) Regulations, 2015;
c) The Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) Regulations, 2009;
d) The Securities and Exchange Board of India (Employee
Stock Option Scheme and Employee Stock Purchase
Scheme) Guidelines, 1999; presently, (Share Based
Employee Benefits) Regulations, 2014;
e) The Securities and Exchange Board of India (Issue and
Listing of Debt Securities) Regulations, 2008;
f) The Securities and Exchange Board of India (Registrars
to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client;
g) The Securities and Exchange Board of India (Delisting of
Equity Shares) Regulations, 2009; and
h) The Securities and Exchange Board of India (Buyback of
Securities) Regulations, 1998;
(vi) Other specific business/industry related laws that are
applicable to the company, viz.
 The Information Technology Act, 2000.
 The Special Economic Zone Act, 2005.
 Policy relating to Software Technology Parks of India and
its regulations.
 The Indian Copyright Act, 1957.
 The Patents Act, 1970.
 The Trade Marks Act, 1999.
 Indian Telegraph Act.
 TelecomRegulatoryAuthorityofIndia(TRAI)/Department
of Telecommunication (DOT) Guidelines.
 Other Service Provider Guidelines (Governed by DOT)

37
I have also examined compliance with the applicable clauses of the
following:
i. Secretarial Standards issued by The Institute of Company
Secretaries of India.
ii. The Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and the
Listing Agreements entered into by the Company with Stock
Exchange(s), if applicable. This is not applicable.
During the period under review the Company has complied with the
provisions of the Act, Rules, Regulations, Guidelines, Standards, etc.
mentioned above.
I further report that the Board of Directors of the Company is
duly constituted with proper balance of Executive Directors, Non-
Executive Directors and Independent Directors. The changes in
the composition of the Board of Directors that took place during
the period under review were carried out in compliance with the
provisions of the Act.
Adequate notice is given to all directors to schedule the Board
Meetings, agenda and detailed notes on agenda were sent at least
seven days in advance, and a system exists for seeking and obtaining
further information and clarifications on the agenda items before
the meeting and for meaningful participation at the meeting.
Majority decision is carried through while the dissenting members’
views are captured and recorded as part of the minutes.
I further report that, in my opinion, there are adequate systems
and processes in the company commensurate with the size and
operations of the company to monitor and ensure compliance with
applicable laws, rules, regulations and guidelines.
I further report that during the audit period the following events
/ actions have taken place which have a major bearing on the
Company’s affairs in pursuance of the above referred laws, rules,
regulations, guidelines, standards, etc., like -
(i) Public/Right/Preferential issue of shares / debentures/sweat
equity, etc.–
 The Company in its Board meeting held on June 16, 2015
has taken approval for the Offer for Sale by Larsen
Toubro Limited in the Initial Public Offer of the Company.
Pursuant to the same, the Company had filed its Draft
Red Herring Prospectus (DRHP) on September 28,
2015. Due to change in the Offer structure and other
considerations, the said DRHP was withdrawn on April
11, 2016 and the revised DRHP filed on April 12, 2016.
(ii) Redemption / buy-back of securities. – NIL.
(iii) Major decisions taken by the members in pursuance to section
180 of the Companies Act, 2013. – NIL.
(iv) Merger / amalgamation / reconstruction, etc.–
 Amalgamation of Information Systems Resource Centre
Private Limited with the Company with effect from
September 21, 2015;
 Petitions for sanctioning the Scheme of Amalgamation
of GDA Technologies Limited with the Company with
Appointed Date being April 1, 2016, admitted with the
Hon’ble High Courts of Judicature at Bombay and Madras.
The Bombay High Court has approved the Scheme vide
its Order dated April 1, 2016, while the approval from
Madras High Court is awaited.
(v) Foreign technical collaborations – NIL.
(vi) Other Event –
 During FY 2015-16, the Company has filed Form ODI with
respect to the investment CAD 171,500 made in October
2005 in Larsen Toubro Infotech Canada Limited. Also
AnnualPerformanceReportsforthesaidentityforFY2005-
06 till 2014-15 have been filed. Compounding application,
under FEMA regulation for the above mentioned delay
in reporting, to be re-submitted, on receipt of directions
from the Reserve Bank of India;
 The Board and the shareholders in their meetings held
on June 16, 2015 and June 22, 2015, respectively, had
approved the following:
a) Adopted a new set of Articles of Association of the
Company in line with the Companies Act, 2013 and
Listing Agreement.
b) Sub-division of face value of equity shares from ` 5 to
` 1 per share;
c) Increase in Authorised Share Capital from equity share
capitalof` 163.75Millionto` 200.00Millionoffacevalue
` 1 per equity share.
 The Authorised share capital of the Company was further
increased to ` 240.00 Million divided into 240,000,000
Equity Shares of ` 1 each with effect from September
21, 2015, pursuant to the approval of the the Scheme of
Amalgamation of Information Systems Resource Centre
Private Limited with the Company, by the Bombay High
Court vide its Order dated September 4, 2015.
NAINA R DESAI
Practising Company Secretary
Place: Mumbai Membership No. 1351
Date: April 20, 2016 Certificate of Practice No.13365
This report is to be read with our letter of even date which is
annexed as Annexure A and forms an integral part of this report.
Corporate Overview

38
Our report of even date is to be read along with this letter.
1) Maintenance of secretarial record is the responsibility of
the management of the Company. Our responsibility is to
express an opinion on these secretarial records based on
our audit.
2) We have followed the audit practices and processes as
were appropriate to obtain reasonable assurance about the
correctness of the contents of the Secretarial records. The
verification was done on test basis to ensure that correct
facts are reflected in secretarial records. We believe that the
processes and practices, we followed provide a reasonable
basis for our opinion.
3) We have not verified the correctness and appropriateness of
financial records and Books of Account of the Company.
Annexure A TO THE sECRETARIAL AUDIT REPORT
To,
The Members
LARSEN TOUBRO INFOTECH LIMITED
4) Where ever required, we have obtained the Management
representation about the compliance of laws, rules and
regulations and happening of events etc.
5) The compliance of the provisions of Corporate and
other applicable laws, rules, regulations, standards is the
responsibility of management. Our examination was limited to
the verification of procedures on test basis.
6) The Secretarial Audit report is neither an assurance as to
the future viability of the Company nor of the efficacy or
effectiveness with which the management has conducted the
affairs of the Company.
NAINA R DESAI
Practising Company Secretary
Place: Mumbai Membership No. 1351
Date: April 20, 2016 Certificate of Practice No.13365

39
EXTRACT OF ANNUAL RETURN
as on the financial year ended on March 31, 2016
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1)
of the Companies (Management and Administration) Rules, 2014]
ANNEXURE C TO THE DIRECTORS’ REPORT
Form No. MGT-9
I. REGISTRATION AND OTHER DETAILS:
S.N. Particulars
1 CIN U72900MH1996PLC104693
2 Registration Date 23rd December 1996
3 Name of the Company Larsen Toubro Infotech Limited
4 Category / Sub-Category of the Company Company limited by shares
Indian Non-Government Company
5 Address of the Registered office and contact details LT House, Ballard Estate, Mumbai-400001
Tel: +91 22 6776 6138
Email: angna.arora@lntinfotech.com
6 Whether listed Company No
7 Name, Address and Contact details of Registrar and Transfer Agent,
if any
Link Intime India Private Limited
Address: C-13, Pannalal Silk Mills Compound,
L.B.S. Marg, Bhandup (West),
Mumbai 400078, Maharashtra, India
Tel: +91 22 2594 6970
Fax: +91 22 2594 6969
Email: rnt.helpdesk@linkintime.co.in
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:-
S. N. Name and Description of main products / services
NIC Code of the
Product/ service
% to total turnover
of the company
1 Computer programming, consultancy and related activities 620 100.00
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:
S. N. Name and Address of the Company CIN/GLN
Holding/
Subsidiary/
Associate
% of
shares
held
Applicable
Section
1 Larsen Toubro Limited
Add: LT House, N. M. Marg, Ballard Estate,
Mumbai-400001
L99999MH1946PLC004768 Holding
Company
94.96 2(46)
2 Larsen Toubro Infotech GmbH
Add: Euro-Asia Business Center, Messe-Allee
2, D-04356, Leipzig, Germany
- Subsidiary 100.00 2(87)
Corporate Overview

40
S. N. Name and Address of the Company CIN/GLN
Holding/
Subsidiary/
Associate
% of
shares
held
Applicable
Section
3 Larsen Toubro Infotech Canada Limited
Add: 2810, Matheson Blvd East, Suite 500,
Mississauga, ON L4W 4X7, Canada
4 Larsen Toubro Infotech LLC
Add: 1220, N. Market St., Suite 806,
Wilmington, DE 19801, Country of New
Castle, United State of America
5 LT Infotech Financial Services Technologies
Inc.
Add: 2810, Matheson Blvd East, Suite 500,
Mississauga, ON L4W 4X7, Canada
6 Larsen And Toubro Infotech South Africa
(Pty) Limited
Add: 6th Floor, 119 Hertzog Boulevard,
Foreshore 8001, South Africa
7 LT Information Technology Services
(Shanghai) Co., Ltd.
Add: Room 1100m Building 2, No.1388,
Xingxian Road, Jaiding District, Shanghai, China
8 GDA Technologies Limited
Add: No.9-A, Chinthamani Nagar, K. K. Pudur,
Coimbatore-641 038, India
U72200TZ1997PLC008145 Subsidiary 100.00 2(87)
9 Larsen Toubro Infotech Austria GmbH
Add: c/o Oberhammer Rechtsanwälte GmbH,
Karlsplatz 3/1, 1010 Vienna, Austria
10 LT Information Technology Spain SL
Add: C/JOSÉ ABASCAL 56 2nd Floor, Madrid,
Spain
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
Category
Code
Category of
Shareholder(s)
No. of shares held at the beginning of the year No. of shares held at the end of the year %
Change
during
the
year
No. of
shares in
Dematerilised
Form
No. of
shares
in Physical
Form
Total No. of
shares
% of
Total
Share
No. of
shares in
Dematerilised
Form
No. of
shares in
Physical
Form
Total No. of
shares
% of Total
Share
(A) Shareholding of
Promoter and
Promoter Group
(1) Indian
(a) Individuals/ Hindu
Undivided Family
0 0 0 0.00 0 0 0 0.00 0.00
(b) Central Government/
State Government(s)
0 0 0 0.00 0 0 0 0.00 0.00
(c) Bodies Corporate 0 32,250,000 32,250,000 100.00 161,250,000 0 161,250,000 94.96 (5.04)
(d) Financial Institutions/
Banks
0 0 0 0.00 0 0 0 0.00 0.00
(e) Others 0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL (A1) 0 32,250,000 32,250,000 100.00 161,250,000 0 161,250,000 94.96 (5.04)

41
Category
Code
Category of
Shareholder(s)
Change
during
the
year
No. of
shares in
Dematerilised
Form
No. of
shares
in Physical
Form
Total No. of
shares
% of
Total
Share
No. of
shares in
Dematerilised
Form
No. of
shares in
Physical
Form
Total No. of
shares
% of Total
Share
(2) Foreign
(a) Individuals (Non-
Residents Individuals/
Foreign Individuals)
0 0 0 0.00 0 0 0 0.00 0.00
(b) Bodies Corporate 0 0 0 0.00 0 0 0 0.00 0.00
(c) Financial Institutions/
Banks
0 0 0 0.00 0 0 0 0.00 0.00
(d) Others 0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL (A2) 0 0 0 0.00 0 0 0 0.00 0.00
TOTAL Shareholding
of Promoter and
Promoter Group
(A1 + A2)
0 32,250,000 32,250,000 100.00 161,250,000 0 161,250,000 94.96 (5.04)
(B) Public Shareholding
(1) Institutions
(a) Mutual Funds/ UTI 0 0 0 0.00 0 0 0 0.00 0.00
(b) Financial Institutions
/ Banks
0 0 0 0.00 0 0 0 0.00 0.00
(c) Central Government/
State Government(s)
0 0 0 0.00 0 0 0 0.00 0.00
(d) Venture Capital
Funds
0 0 0 0.00 0 0 0 0.00 0.00
(e) Insurance Companies 0 0 0 0.00 0 0 0 0.00 0.00
(f) Foreign Institutional
Investors
0 0 0 0.00 0 0 0 0.00 0.00
(g) Foreign Venture
Capital Investors
0 0 0 0.00 0 0 0 0.00 0.00
(j) Others 0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL (B1) 0 0 0 0.00 0 0 0 0.00 0.00
(2) Non - Institutions
(a) Bodies Corporate
(i) Indian 0 0 0 0.00 11,049 0 11,049 0.01 0.01
(ii) Overseas 0 0 0 0.00 0 0 0 0.00 0.00
(b) Individuals
(i) Individual
Shareholders holding
nominal share capital
up to ` 1 Lakh
0 0 0 0.00 4,938,210 443,944 5,382,154 3.17 3.17
(ii) Individual
Shareholders holding
nominal share capital
in excess of ` 1 Lakh
0 0 0 0.00 701,250 0 701,250 0.41 0.41
(c) Others
(i) Directors and their
relatives
0 0 0 0.00 871,875 0 871,875 0.51 0.51
Corporate Overview

42
Category
Code
Category of
Shareholder(s)
Change
during
the
year
No. of
shares in
Dematerilised
Form
No. of
shares
in Physical
Form
Total No. of
shares
% of
Total
Share
No. of
shares in
Dematerilised
Form
No. of
shares in
Physical
Form
Total No. of
shares
% of Total
Share
(ii) Non Resident
Repatriates
0 0 0 0.00 634,824 377,670 1,012,494 0.60 0.60
(iii) Non Resident Non
Repatriates
0 0 0 0.00 104,310 158,166 262,476 0.15 0.15
(vi) Foreign Nationals 0 0 0 0.00 0 324,890 324,890 0.19 0.19
SUB TOTAL (B2) 0 0 0 0.00 7,261,518 1,304,670 8,566,188 5.04 5.04
TOTAL Public
Shareholding
(B1 + B2)
0 0 0 0.00 7,261,518 1,304,670 8,566,188 5.04 5.04
TOTAL (A+B) 0 32,250,000 32,250,000 100.00 168,511,518 1,304,670 169,816,188 100.00 0.00
(C) Shares held by
Custodians and
against which
Depository Receipts
have been issued
0 0 0 0.00 0 0 0 0.00 0.00
SUB TOTAL (C) 0 0 0 0.00 0 0 0 0.00 0.00
GRAND TOTAL 0 32,250,000 32,250,000 100.00 168,511,518 1,304,670 169,816,188 100.00 0.00
Note: The equity shares of the Company have been subdivided from face value of ` 5 each to ` 1 each with effect from June 22, 2015.
i) Shareholding of Promoters
S. N. Shareholder’s Name
Shareholding at the
Beginning of the year
Shareholding at the
End of the year
% change in
shareholding
during the
Year
No. of
Shares
% of total
Shares of
the
company
% of Shares
Pledged/
encumbered
to total
shares
No. of
Shares
% of total
Shares of
the
company
% of Shares
Pledged/
encumbered
to total
shares
1 Larsen Toubro Limited 32,250,000 100.00 0.00 161,250,000 94.96 0.00 (5.04)
Total 32,250,000 100.00 0.00 161,250,000 94.96 0.00 (5.04)
Note: The equity shares of the Company have been subdivided from face value of ` 5 each to ` 1 each with effect from June 22, 2015.
ii) Change in Promoters’ Shareholding: There was no change in the shareholding during the year
S. N. Particulars
Shareholding at the
Cumulative Shareholding
during the year
No. of
Shares
% of total
Shares of
the company
No. of
Shares
% of total
Shares of
the company
1 At the beginning of the year 32,250,000 100.00
Date wise Increase / Decrease in Promoters Shareholding during
the year specifying the reasons for increase / decrease (e.g.
allotment / transfer / bonus/ sweat equity etc)
Not Applicable*
At the End of the year 161,250,000 94.96

43
*Notes:
Ø While there is no change in the shareholding of the Promoter Promoter Group, there is a change in the percentage of the total
outstanding shares of the Company due to periodic allotment of shares during the financial year 2015-16 pursuant to exercise of Stock
Options by the employees.
Ø The equity shares of the Company have been subdivided from face value of ` 5 each to ` 1 with effect from June 22, 2015.
iii) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
S. N. For Each of the Top 10 Shareholders
Shareholding at the
during the year
No. of
Shares
% of total
Shares of
the company
No. of
Shares
% of total
Shares of
the company
1 VIJAY KUMAR MAGAPU At the beginning of the year - - - -
Date wise Increase / Decrease in
Shareholding during the year specifying
the reasons for increase / decrease
(e.g. allotment / transfer / bonus /
sweat equity etc):
25.11.2015 420,000 0.26 420,000 0.26
At the End of the year - - 420,000 0.25
2 YESHWANTMORESHWARDEOSTHALEE At the beginning of the year - - - -
sweat equity etc):
15.12.2015 281,250 0.17 281,250 0.17
3 VINA BADAMI At the beginning of the year - - - -
sweat equity etc):
05.12.2015 140,000 0.08 140,000 0.08
4 VIVEK SHANTARAM SHIROOR At the beginning of the year - - - -
sweat equity etc):
05.12.2015 127,000 0.08 127000 0.08
25.12.2015 (4,000) (0.00) 123000 0.07
18.01.2016 15,000 0.00 138000 0.08
At the End of the year - - 1,38,000 0.08
5 MAKARAND G DEOLALKAR At the beginning of the year - - - -
sweat equity etc):
10.11.2015 128,937 0.08 128,937 0.08
Corporate Overview

44
S. N. For Each of the Top 10 Shareholders
Shareholding at the
during the year
No. of
Shares
% of total
Shares of
the company
No. of
Shares
% of total
Shares of
the company
6 SHRINIVASAN VENKATARAMAN At the beginning of the year - - - -
sweat equity etc):
15.12.2015 125,000 0.07 125,000 0.07
7 KAVINDRA SHARMA At the beginning of the year - - - -
sweat equity etc):
25.11.2015 75,312 0.05 75,312 0.05
15.12.2015 39,375 0.02 114,687 0.07
8 HAE RYONG JEONG At the beginning of the year - - - -
sweat equity etc):
15.12.2015 111,250 0.07 111,250 0.07
9 KASUKHELA SITAPATI RAO At the beginning of the year - - - -
sweat equity etc):
15.12.2015 110,500 0.07 110,500 0.07
10 (i) GOPA KUMAR PERIYADAN At the beginning of the year - - - -
sweat equity etc):
10.11.2015 100,000 0.06 100,000 0.06
10 (ii) RAVIKUMAR R THUMMARUKUDY At the beginning of the year - - - -
sweat equity etc):
15.12.2015 100,000 0.06 100,000 0.06

45
iv) Shareholding of Directors and Key Managerial Personnel:
S. N. For Each of the Directors and KMP
Shareholding at the
during the year
No. of
Shares
% of total
Shares of
the company
No. of
Shares
% of total
Shares of
the company
1 ANILKUMAR MANIBHAI NAIK At the beginning of the year - - - -
Date wise Increase /Decrease in
sweat equity etc):
25.11.2015 871,875 0.53 871,875 0.53
V. INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
(` Million)
Particulars
Secured Loans
Excluding deposits
Unsecured
Loans
Deposits Total
Indebtedness
Indebtedness at the beginning of the financial year:
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due
877.78
0.85
1.34
1,297.48
0.09
0.13
-
-
-
2,175.26
0.94
1.47
Total (i+ii+iii) 879.97 1,297.70 - 2,177.67
Change in Indebtedness during the financial year:
• Addition
• Reduction
1,300.64
1,898.68
1,055.73
2,088.19
-
-
2,356.37
3,986.87
Net Change (598.04) (1,032.46) - (1,630.50)
Indebtedness at the end of the financial year:
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due
279.74
0.14
0.86
265.02
-
0.07
-
-
-
544.76
0.14
0.93
Total (i+ii+iii) 280.74 265.09 - 545.83
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL (DURING THE FINANCIAL YEAR 2015-16)
A. Remuneration to Managing Director (MD), Whole-time Directors (WTD) and/or Manager:
(` Million)
S. N. Particulars of Remuneration
Name of MD/ WTD/ Manager
Total
Amount
Mr. V. K.
Magapu1
(MD)
Mr. K. R. L.
Narasimham2
(WTD)
Mr. Chandrashekara
Kakal3
(Chief Operating
Officer WTD)
Mr. Sunil
Pande4
(WTD)
Mr. Sanjay
Jalona5
(Chief Executive
Officer MD)
1 Gross salary:
(a) Salaryasperprovisionscontainedin
section17(1)oftheIncome-taxAct,1961
-
0.17 10.85 5.33 19.56 35.91
(b) Value of perquisites u/s 17(2) of
Income-tax Act, 1961
-
- - - - -
(c) Profits in lieu of salary under section
17(3) of Income-tax Act, 1961
-
- - - - -
Corporate Overview

L&T Infotech Annual Report FY 2016

L&T Infotech Annual Report FY 2016

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