The document is the balance sheet of Wipro Infrastructure Engineering AB as of March 31, 2010. It shows that the company had total assets of Rs. 3,837,499,823, with fixed assets accounting for Rs. 736,891,925 of this amount. Total liabilities were Rs. 1,992,491,932 in shareholder funds and Rs. 1,845,007,891 in loan funds. Net current assets were Rs. 1,826,988,211.

1. Wipro Infrastructure Engineering AB
BALANCE SHEET
In Rupees
As at As at
Schedule 31 March 2010 31 March 2009
SOURCES OF FUNDS
Shareholders' funds
Share capital 1 1,872,623,426 47,821,226
Reserves and surplus 2 119,868,506 118,578,280
1,992,491,932 166,399,506
LOAN FUNDS
Secured loans 3 1,629,910,519 1,161,406,647
Unsecured loans 4 215,097,372 632,015,285
1,845,007,891 1,793,421,932
3,837,499,823 1,959,821,438
APPLICATION OF FUNDS
Fixed Assets 5
Gross block 2,144,484,978 1,870,020,326
Less: Accumulated depreciation 1,515,194,618 1,428,318,323
Net block 629,290,360 441,702,003
Capital work-in-progress and advances 107,601,565 279,683,429
736,891,925 721,385,431
-
INVESTMENTS 6 441,859,578 441,857,640
DEFERRED TAX ASSETS - 68,295,753
Current assets, loans and advances
Inventories 7 477,097,486 677,545,124
Sundry debtors 8 588,854,300 558,684,168
Cash and bank balances 9 1,428,406,007 276,707
Loans and advances 10 111,656,969 72,077,661
2,606,014,762 1,308,583,660
Less: Current liabilities
Current liabilities 11 756,871,886 554,813,473
Provisions 12 22,154,665 25,487,574
779,026,551 580,301,047
NET CURRENT ASSETS 1,826,988,211 728,282,613
Debit balance in profit and loss account 831,760,109 -
3,837,499,823 1,959,821,438
Significant accounting policies 17
Notes to accounts 18
The schedules referred above form an integral part of the balance sheet
As per our report attached
for Swamy & Ravi
Chartered Accountants
Firm Registration number : 004317S
Sd/- Sd/-
Sd/- Anurag Behar Harish J Shah
Director Director
Partner
Membership No. 21431
Bangalore
June 15, 2010
For and on behalf of the Board of Directors
K.Ramesh

2. Wipro Infrastructure Engineering AB
PROFIT AND LOSS ACCOUNT
As per our report attached
for Swamy & Ravi
Chartered Accountants
June 15, 2010
In Rupees
Schedule
For the year ended 31
March 2010
For the year ended 31
March 2009
INCOME
Sales and services 1,930,816,172 4,150,216,927
Other income 13 203,791,121 38,710,136
2,134,607,293 4,188,927,063
EXPENDITURE
Employee cost 14 1,014,270,316 1,371,725,551
Depreciation 5 134,768,975 123,837,881
Other operating expenses 15 1,736,413,059 3,057,302,677
Interest 16 33,566,290 36,269,594
2,919,018,640 4,589,135,703
PROFIT BEFORE TAXATION (784,411,347) (400,208,640)
Provision for taxation 86,485,496 7,298,886
PROFIT AFTER TAXATION (870,896,843) (407,507,526)
Balance in the profit and loss account brought forward 39,136,734 -
TRANSFER TO GENERAL RESERVE (831,760,109) (407,507,526)
EARNINGS PER SHARE - EPS
Equity shares of par value SEK 100 each
Basic and diluted (in Rs.) (1,502.64) (5,300.36)
Weighted average number of equity shares used in computing 553,533 76,883
Significant accounting policies 17
Notes to the accounts 18
The schedules referred above form an integral part of the profit and loss account
Firm Registration number : 004317S
Sd/- Sd/-
Sd/- Anurag Behar Harish J Shah
Director Director
Partner
Membership No. 21431
Bangalore
For and on behalf of the Board of Directors
K.Ramesh

3. Wipro Infrastructure Engineering AB
Cash flow statement
Cash and cash equivalents at the beginning of the year
As per our report attached
for Swamy & Ravi
Chartered Accountants
June 15, 2010
In Rupees
For the year ended 31
March 2010
For the year ended 31
March 2009
A. Cash flows from operating activities:
Profit before tax (784,411,347) (357,624,484)
Adjustments:
Depreciation 134,768,975 123,837,881
Unrealised exchange differences - net 97,827,081 32,590,375
Interest on borrowings 33,566,290 36,269,594
Interest income (4,959,445) (431,647)
Gain on sale of fixed assets (13,678,010) (300,902)
Working capital changes :
Inventories 200,447,639 103,457,134
Sundry debtors (30,170,133) 154,805,799
Loans and advances (27,697,005) 825,872
Current liabilities and provisions 198,725,504 (395,170,431)
Net cash generated from operations (195,580,451) (301,740,808)
Direct taxes paid (30,072,047) (6,682,283)
Net cash generated by operating activities (225,652,498) (308,423,091)
B. Cash flows from investing activities:
Acquisition of fixed assets (207,675,587) (268,298,616)
Proceeds from sale of fixed assets 13,678,010 300,902
Purchase of investments (1,938) (15,770)
Interest income received 4,959,445 431,647
Net cash used in investing activities (189,040,070) (267,581,837)
C. Cash flows from financing activities:
Proceeds from issue of share capital 1,824,802,200 -
Interest paid on borrowings (33,566,290) (36,269,594)
Proceeds/(repayment) from/(of) borrowings 51,585,958 610,991,018
Net cash generated by / (used in) financing activities 1,842,821,868 574,721,424
Net increase in cash and
cash equivalents during the year 1,428,129,299 (1,283,504)
276,707 1,560,211
Cash and cash equivalents at the end of the year 1,428,406,007 276,707
Firm Registration number : 004317S
Sd/- Sd/-
Sd/- Anurag Behar Harish J Shah
Director Director
Partner
Membership No. 21431
Bangalore
For and on behalf of the Board of Directors
K.Ramesh

4. Wipro Infrastructure Engineering AB
Schedules to the balance sheet
In Rupees
As at As at
31 March 2010 31 March 2009
Schedule 1 Share capital
Authorised capital 47,821,226 47,821,226
76,883 (2009: 76,883) equity shares of SEK 100 each 1
76,883 equity shares of SEK 100 each 47,821,226 47,821,226
Issued, subscribed and paid-up capital 47,821,226 47,821,226
76,883 (2009: 76,883) equity shares of SEK 100 each 1
Equity contribution * 1,824,802,200 -
1,872,623,426 47,821,226
Note:
1 Of the above Equity shares, 76,883 Equity shares (2008: 76,883) of SEK 100 each are held by
Wipro Cyprus Private Limited, the Holding Company.
Schedule 2 Reserves and surplus
Translation reserve
Additions 79,441,546 44,444,738
Deletions 40,426,960 34,996,808
119,868,506 79,441,546
General reserve
Opening balance - 446,644,260
Additions - (407,507,526)
- 39,136,734
Summary of reserves and surplus
Opening balance 79,441,546 491,088,998
Additions 40,426,960 (372,510,718)
119,868,506 118,578,280
Schedule 3 Secured loans
From Banks
Term Loan 1 621,929,924 130,064,875
Finance lease obligation 178,500,072 120,599,847
Bank overdraft 1 829,480,523 910,741,925
1,629,910,519 1,161,406,647
1 Term loans and bank overdraft is secured by company assets
Schedule 4 Unsecured loans
From Wipro Holdings Hungary Korlatolt Felel.sseg. Tarsasag 215,097,372 632,015,285
215,097,372 632,015,285

5. Wipro Infrastructure Engineering AB
Schedules to the balance sheet (continued)
Schedule 5 Fixed assets
In Rupees
GROSS BLOCK ACCUMULATED DEPRECIATION
PARTICULARS NET BLOCK NET BLOCK
As of April 1 2009 Additions Deductions /
adjustments * As of March 31, 2010 As of April 1 2009 Depreciation for
the period
Deductions /
adjustments * As of March 31, 2010 As of March 31, 2010 As of March 31, 2009
Land and buildings 405,152,519 - (33,617,311) 371,535,208 173,806,165 9,314,750 (11,976,847) 171,144,068 200,391,140 231,346,354
Plant and machinery # 1,321,232,837 379,757,452 (64,647,478) 1,636,342,811 1,168,956,791 120,052,420 (31,891,618) 1,257,117,593 379,225,218 152,276,046
Office equipments 132,624,517 - (6,489,273) 126,135,244 75,564,904 4,825,261 (3,647,732) 76,742,433 49,392,811 57,059,613
Trucks 11,010,453 (538,738) 10,471,715 9,990,463 576,543 (376,482) 10,190,524 281,191 1,019,990
1,870,020,326 379,757,452 (105,292,800) 2,144,484,978 1,428,318,323 134,768,974 (47,892,679) 1,515,194,618 629,290,360 441,702,003
Previous period 2,030,087,040 70,642,481 (230,709,195) 1,870,020,326 1,471,788,766 123,837,881 (167,308,324) 1,428,318,323 441,702,003

6. Wipro Infrastructure Engineering AB
Schedules to the balance sheet (continued)
In Rupees
As at As at
31 March 2010 31 March 2009
Schedule 6 Investments
Investment in Subsidiaires/BUs 441,672,870 441,672,870
9100 (2009: 9100) shares of SEK 45535 each
Investments in Indian Money Market Mutual Funds 186,708 184,770
25 (2009: 20) shares of SEK 1200 each
441,859,578 441,857,640
Schedule 7 Inventories
Raw materials 280,879,653 444,821,931
Stock in process 161,989,750 176,596,382
Finished goods 34,228,083 56,126,811
477,097,486 677,545,124
Basis of stock valuation :
i) Raw materials, stock in process and stores & spares at or below cost.
ii) Finished goods at cost or net realizable value, whichever is lower
Schedule 8 Debtors
Sundry debtors (Unsecured)
Debts outstanding for a period exceeding six months
Considered doubtful 54,622,178 5,543,100
Other debts
Considered good 588,854,300 558,684,168
643,476,478 564,227,268
Less: Provision for doubtful debts 54,622,178 5,543,100
588,854,300 558,684,168
Schedule 9 Cash and bank balances
Balance with other than scheduled banks 1,428,406,007 276,707
1,428,406,007 276,707

7. Wipro Infrastructure Engineering AB
Schedules to the balance sheet (continued)
In Rupees
As at As at
31 March 2010 31 March 2009
Schedule 10 Loans and advances
(Unsecured, considered good unless otherwise stated)
Advances recoverable in cash or in kind or for value to be received
Receivable from group companies 55,283,794 5,384,342
Advances to suppliers 4,619,993 13,179,649
Advances to employees 1,038,220 683,720
Prepaid Expenses 36,008,334 41,553,560
Advance tax (net of provision) 14,678,028 2,795,724
Others 28,600 8,480,666
111,656,969 72,077,661
Schedule 11 Current liabilities
Sundry creditors 332,742,917 282,120,356
Statutory Liablities 127,192,865 77,692,834
Provision for expenses 152,973,872 124,605,401
Payable to Wipro Limited 138,029,879 66,630,744
Salary payable 5,932,353 3,764,138
756,871,886 554,813,473
Schedule 12 Provisions
Warranty provision 22,154,665 25,487,574
22,154,665 25,487,574

8. Wipro Infrastructure Engineering AB
Schedules to profit and loss account
In Rupees
For the year ended 31
March 20010
For the year ended 31
March 2009
Schedule 13 Other income
Profit on disposal of fixed assets 13,678,010 300,902
Scrap sales 5,903,736 21,117,942
Exchange differences - net 165,576,154 -
Interest income, dividend from mutual funds, etc 4,959,445 431,647
Others 13,673,776 16,859,645
203,791,121 38,710,136
Schedule 14 Personnel cost
Salaries and bonus 923,954,348 1,253,038,358
Workmen and Staff welfare 90,315,968 118,687,193
1,014,270,316 1,371,725,551
Schedule 15 Other operating expenses
Raw materials, Finised and Process Stocks 1,084,623,516 2,050,650,472
Stores & spares 72,515,913 125,576,167
Power and fuel 65,516,028 59,325,588
Insurance 4,558,329 6,233,751
Freight 93,399,412 138,188,935
Repairs to buildings 5,399,525 1,100,024
Repairs to Plant & Machniery 23,158,977 53,588,044
Corporate guarantee commission 22,930,817 42,584,157
Packing 29,710,287 53,398,223
Travelling 23,901,414 33,821,506
Communication 9,309,605 11,391,028
Bank charges 14,409,548 62,387,021
Rent 84,854,582 93,560,913
Audit fees 6,528,647 4,176,023
Sub contracting / technical fees 53,690,794 79,933,011
Advertisement and sales promotion 661,787 4,912,163
Exchange differences - net - 134,606,569
Legal and professional 4,339,881 9,290,901
Warranty provision 40,422,001 20,406,222
Provision / write off of bad debts 52,038,702 3,919,731
Miscellaneous 44,443,294 68,252,228
1,736,413,059 3,057,302,677
Schedule 16 Interest
Interest expense, net 33,566,290 36,269,594
33,566,290 36,269,594