Airtel 2012 Annual Report Download - page 35

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BHARTI AIRTEL ANNUAL REPORT 2011-12
• At the 23rd Enugu International Trade Fair in Nigeria, the Company received three awards for its outstanding performance
at the fair and contribution to the development and growth of the economy of the south east region.
• The Company received The Special Jury Award for Corporate Responsibility which was given for the first time as recognition
of the tremendous work done by Airtel Africa in the sphere of education for the under-privileged. This award was
received during the “Annual Changemaker Award 2011” Ceremony in February 2012 in New-Delhi.
• Airtel’s music campaign ‘One8’ was the first runner-up in the MIDEM International Trade Fair Awards in the category of
the most innovative and creative music campaign.
CAPITAL MARKET RATINGS
As at March 31, 2012, Bharti Airtel Limited is rated by two domestic rating agencies, viz. CRISIL and ICRA, and two international
rating agencies, viz. Fitch Ratings and S&P.
• CRISIL and ICRA have rated the Company at the top end of their rating scales, both for short term (P1+/A1+) as well as
long term (AAA/LAAA) with Negative outlook.
• Fitch Ratings maintained its rating at BBB - but moved the outlook to negative. S&P has reaffirmed its rating at BB+
with Stable outlook.
SHARE CAPITAL
During the year, there was no change in the authorised, issued, subscribed and paid-up equity share capital of the Company
which stood at ` 18,987,650,480 divided into 3,797,530,096 equity shares of ` 5 each as at March 31, 2012.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
In accordance with the listing agreement requirements, the Management Discussion & Analysis report is presented in a
separate section forming part of the Annual Report.
CORPORATE GOVERNANCE
The Company is committed to maintain the highest standards of Corporate Governance. The Directors adhere to the
requirements set out by the Securities and Exchange Board of India’s Corporate Governance Practices and have implemented
all the stipulations prescribed.
A detailed report on Corporate Governance pursuant to the requirements of clause 49 of the listing agreement forms part
of the annual report. However, in terms of the provisions of section 219(1)(b)(iv) of the Act, the abridged annual report has
been sent to the members of the Company excluding this report. A certificate from the auditors of the Company, M/s. S.R.
Batliboi & Associates, Chartered Accountants, Gurgaon confirming compliance of conditions of corporate governance as
stipulated under clause 49 is annexed to the report as Annexure A.
SECRETARIAL AUDIT REPORT
Keeping with the high standards of corporate governance adopted by the Company and also to ensure proper compliance
with the provisions of various corporate laws, the regulations and guidelines issued by the Securities and Exchange Board
of India, the listing agreement, the Company has voluntarily started a practice of the secretarial audit from a practicing
company secretary.
The Company has appointed M/s. Chandrasekaran Associates, Company Secretaries, New Delhi, to conduct secretarial
audit of the Company for the financial year ended March 31, 2012, who has submitted their report confirming the compliance
with all the applicable provisions of various corporate laws. The Secretarial Audit Report is provided separately in the
annual report. However, in terms of the provisions of section 219(1)(b)(iv) of the Act, the abridged annual report has been
sent to the members of the Company excluding this report.