Balance sheet of Vodafone from 2011 and 2010.

2011
m

2010
m

Non-current assets
Intangible assets
Property, plant and equipment
Investments in associates
Other non-current assets

68,558
20,181
38,105
7,373

74,258
20,642
36,377
11,489

Current assets
Total assets

134,217 142,766
17,003 14,219
151,220 156,985

Total equity shareholders' funds 87,555 90,381

Total non-controlling interests 6
429
Total equity
Liabilities
Borrowings
Long-term
Short-term
Taxation liabilities
Deferred tax liabilities
Current taxation liabilities
Other non-current liabilities
Other current liabilities
Total liabilities
Total equity and liabilities

87,561 90,810

28,375 28,632
9,906 11,163
6,486
2,262
1,373
15,257
63,659
151,220

7,377
2,874
1,550
14,579
66,175
156,985

Assets
Intangible assets
At 31 March 2011 our intangible assets were 68.6 billion (2010: 74.3 billion) with goodwill
comprising the largest element at 45.2 billion (2010: 51.8 billion). The decrease primarily
resulted from impairment losses of 6.2 billion, amortisation of 3.5 billion and unfavourable
foreign exchange rate movements of 0.9 billion partially offset by 4.7 billion of additions.
Refer to "note 10 to the consolidated financial statements" for further information on the
impairment charge.

Property, plant and equipment

Property, plant and equipment decreased from 20.6 billion at 31 March 2010 to 20.2 billion at
31 March 2011 predominantly as a result of 4.7 billion of additions offset by 4.4 billion of
depreciation charges and unfavourable foreign exchange rate movements of 0.6 billion.
Investments in associates
Investments in associates increased from 36.4 billion at 31 March 2010 to 38.1 billion at 31
March 2011 primarily due to our share of the results of associates, after deductions of interest,
tax and non-controlling interest, which contributed 5.1 billion to the increase, mainly arising
from our investment in Verizon Wireless, partially offset by 1.4 billion of dividends received
and unfavourable foreign exchange movements of 1.9 billion.
Other non-current assets
Other non-current assets decreased to 7.4 billion at 31 March 2011 (2010: 11.5 billion) mainly
due to other investments which totalled 1.4 billion at 31 March 2011 compared to 7.6 billion at
31 March 2010. The decrease was primarily as a result of the disposal of our 3.2% interest in
China Mobile Limited and our interests in SoftBank investments.
Current assets
Current assets increased to 17.0 billion at 31 March 2011 from 14.2 billion at 31 March 2010
due to an increase in cash and short-term investments resulting from the disposal of our interests
in SoftBank and the element of the proceeds from the disposal of our 3.2% interest in China
Mobile Limited not utilised for the share buyback programme.
Total equity and liabilities
Total equity shareholders' funds
Total equity shareholders funds decreased from 90.4 billion at 31 March 2010 to 87.6 billion
at 31 March 2011. The profit for the year of 8.0 billion was more than offset by equity
dividends of 4.5 billion, an other comprehensive loss of 4.5 billion and the share buyback of
2.1 billion.
Borrowings
Long-term borrowings and short-term borrowings decreased to 38.3 billion at 31 March 2011
from 39.8 billion at 31 March 2010 mainly as a result of foreign exchange rate movements and
bond repayments during the year.
Taxation liabilities

Current tax liabilities decreased from 2.9 billion at 31 March 2010 to 2.3 billion at 31 March
2011 mainly as a result of lower outstanding tax liabilities in the US as a result of accelerated tax
depreciation and the resolution of long-standing tax disputes.
Other current liabilities
Other current liabilities increased from 14.6 billion at 31 March 2010 to 15.3 billion at 31
March 2011. Trade payables at 31 March 2011 were equivalent to 37 days (2010: 31 days)
outstanding, calculated by reference to the amount owed to suppliers as a proportion of the
amounts invoiced by suppliers during the year. It is our policy to agree terms of transactions,
including payment terms, with suppliers and it is our normal practice that payment is made
accordingly.
Contractual obligations and contingencies
A summary of our principal contractual financial obligations is shown below. Further details on
the items included can be found in the notes to the consolidated financial statements. Details of
the Groups contingent liabilities are included in "note 28 to the consolidated financial
statements".

(1)

Contractual obligations
Borrowings(2)
Operating lease commitments(3)
Capital commitments(3)(4)
Purchase commitments(5)
Total contractual cash obligations(1)

Payments due by period m

Total <1 year 1-3 years 3-5 years >5 years
45,226 10,864 8,727
10,093 15,542
6,513 1,225 1,704
1,240
2,344
2,124 1,885 228
11

5,937 3,619 1,835

142
341
59,800 17,593 12,494 11,486 18,227

1. Notes:
2. The above table of contractual obligations includes commitments in respect of options
over interests in Group businesses held by non-controlling shareholders (see "Option
agreements and similar arrangements") and obligations to pay dividends to noncontrolling shareholders (see "Dividends from associates and to non-controlling
shareholders"). The table excludes current and deferred tax liabilities and obligations
under post employment benefit schemes, details of which are provided in notes 6 and 23
to the consolidated financial statements respectively. The table also excludes the
contractual obligations of associates.
3. See "note 22 to the consolidated financial statements".
4. See "note 27 to the consolidated financial statements".
5. Primarily related to network infrastructure.
6. In addition to the purchase commitments disclosed above, Vodafone Netherlands has
announced its intention to acquire BelCompany BV, one of the largest telecom retailers
in the Netherlands, from the Macintosh Retail Group for 120 million. The transaction is
subject to regulatory and other approvals.

Balance sheet of Videocon industries given in economic

times:
Balancesheet - Videocon Industries Ltd.

Particulars
Liabilities
Share Capital
Reserves & Surplus

Dec'10
12 Months
347.96
9,085.92

Sep'09
12 Months
370.42
6,929.62

Sep'08
12 Months
275.31
6,538.49

Sep'07
12 Months
266.95
5,357.91

Sep'06
12 Months
266.85
3,847.63

Net Worth

9,433.88

7,300.04

6,813.80

5,678.38

5,039.05

Secured Loans
Unsecured Loans

5,937.60
5,836.16

6,735.04
2,349.51

4,401.25
3,604.34

3,343.50
1,916.14

3,608.39
1,352.80

TOTAL LIABILITIES
Assets

21,207.64

16,384.59

14,819.39

10,938.02

10,000.25

Gross Block
(-) Acc. Depreciation

9,536.60
4,804.07

9,004.95
4,298.83

8,947.78
4,310.63

8,083.16
3,376.67

7,127.93
2,847.09

Net Block

4,732.52

4,706.12

4,637.15

4,652.98

3,356.27

Capital Work in Progress.

Investments.
Inventories
Sundry Debtors
Cash And Bank
Loans And Advances

1,270.58
4,267.96
2,040.14
2,647.33
1,316.43
6,639.36

1,314.15
3,064.90
1,763.49
1,708.11
498.51
4,850.78

1,289.52
2,695.59
1,568.86
1,582.89
388.28
4,101.65

612.98
2,092.50
1,393.64
1,314.25
889.11
1,545.48

608.28
1,781.17
1,299.86
1,117.29
1,136.25
872.06

Total Current Assets

12,643.26

8,820.90

7,641.68

5,142.49

4,425.46

Current Liabilities
Provisions

1,588.71
117.98

1,391.29
130.19

1,292.58
151.97

1,323.22
293.22

926.70
168.80

Total Current Liabilities

NET CURRENT ASSETS

1,706.69
10,936.57

1,521.48
7,299.42

1,444.55
6,197.13

1,616.44
3,526.05

1,095.50
3,329.96

Misc. Expenses

0.00

0.00

0.00

0.00

0.00

TOTAL ASSETS (A+B+C+D+E)

21,207.64

16,384.59

14,819.39

10,938.02

10,000.25

Balance sheet of Videocon industries given in rediffmail:

Balance sheet
Dec ' 10

Sep ' 09

Sep ' 08

Sep ' 07 Sep ' 06

Sources of funds
Owner's fund
Equity share capital

301.95

229.41

229.30

220.95

220.84

Share application money

95.00

Preference share capital

46.01

46.01

46.01

46.01

46.01

Reserves & surplus

9,085.92 6,929.63 6,538.49 5,357.91 3,847.63

Loan funds
Secured loans

5,937.61 6,735.04 4,401.25 3,343.50 3,608.39

Unsecured loans

5,836.16 2,349.51 3,604.34 1,916.14 1,352.80

Total

21,207.64 16,384.59 14,819.39 10,884.50 9,075.67

Uses of funds
Fixed assets
Gross block

9,536.60 9,004.95 8,947.78 8,083.16 7,127.93

Less : revaluation reserve

Less : accumulated depreciation

4,804.07 4,298.83 4,310.63 3,376.67 2,847.09

Net block

4,732.53 4,706.12 4,637.15 4,652.98 3,356.27

Capital work-in-progress

1,270.58 1,314.15 1,289.52 612.98

Investments

4,267.96 3,064.90 2,695.59 2,092.50 1,781.17

53.52

924.57

608.28

Dec ' 10

Sep ' 09

Sep ' 08

Sep ' 07 Sep ' 06

Net current assets

Current assets, loans & advances

12,643.27 8,820.90 7,641.68 5,142.49 4,425.46

Less : current liabilities & provisions

1,706.69 1,521.48 1,444.55 1,616.44 1,095.51

Total net current assets

10,936.57 7,299.42 6,197.13 3,526.05 3,329.96

Miscellaneous expenses not written

Total

21,207.64 16,384.59 14,819.39 10,884.50 9,075.67

Notes:
Book value of unquoted investments

4,217.13 3,056.96 2,524.79 1,906.24 1,618.68

Market value of quoted investments

62.59

10.83

214.72

230.38

94.13

Contingent liabilities

191.47

122.93

178.17

112.59

81.65

2294.07

2294.51

2210.94

2209.86

Number of equity shares outstanding (Lacs) 3019.64

P&L account of Videocon industries given in rediffmail:

Profit loss account
Dec ' 10 Sep ' 09 Sep ' 08 Sep ' 07 Sep ' 06
Income
Operating income

14,409.69 9,163.04 9,753.65 8,285.42 7,218.82

Expenses
Material consumed

9,112.32 5,614.40 5,291.05 4,954.79 4,162.74

Manufacturing expenses

887.49

773.74

1,285.85 988.23

986.28

Personnel expenses

228.01

126.42

115.82

105.35

94.70

Selling expenses

996.81

550.04

505.07

470.62

412.12

Adminstrative expenses

332.87

224.47

163.62

94.21

222.71

Expenses capitalised

Cost of sales

11,557.49 7,289.07 7,361.40 6,613.19 5,878.56

Operating profit

2,852.20 1,873.97 2,392.25 1,672.24 1,340.26

Other recurring income

39.41

Adjusted PBDIT

2,891.61 1,901.37 2,464.18 1,743.79 1,467.47

Financial expenses

950.54

665.75

431.86

337.17

254.75

Depreciation

712.96

577.15

660.21

418.39

484.00

Other write offs

Adjusted PBT

1,228.11 658.46

1,372.11 988.23

728.72

Tax charges

305.75

177.68

312.67

95.16

Adjusted PAT

922.36

480.78

1,059.43 760.55

27.39

71.92

71.55

227.68

127.21

633.56

Dec ' 10 Sep ' 09 Sep ' 08 Sep ' 07 Sep ' 06
Non recurring items

-177.67

-80.12

-205.14 94.67

-139.82

Other non cash adjustments -5.78

73.68

0.72

3.54

0.30

Reported net profit

474.34

855.01

858.76

494.04

738.91

Earnigs before appropriation 2,982.76 2,536.34 2,306.65 1,696.84 932.95

Equity dividend

30.20

46.25

22.95

80.30

77.35

Preference dividend

4.61

3.68

3.68

3.68

3.39

Dividend tax

5.78

8.49

4.53

14.27

11.32

Retained earnings

2,942.17 2,477.92 2,275.49 1,598.59 840.89