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Shaping the future of software driven business
Consolidated Financials •
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5. Share capital
As at March 31, 2019
In
`
Million
As at March 31, 2018
In
`
Million
Authorized shares (No. in million)
200 (Previous year: 200) equity shares of
`
10 each
2,000.00
2,000.00
2,000.00
2,000.00
Issued, subscribed and fully paid-up shares (No. in million)
79.12 (Previous year: 80) equity shares of
`
10 each
791.19
800.00
Issued, subscribed and fully paid-up share capital
791.19
800.00
a) Reconciliation of the shares outstanding at the beginning and at the end of the year
The reconciliation of the number of shares outstanding and the amount of share capital is set out below:
(In Million)
As at March 31, 2019
As at March 31, 2018
No of shares Amount
`
No of shares
Amount
`
Number of shares at the beginning of the year
80.00 800.00
80.00 800.00
Less: Shares bought back
0.88
8.81
-
-
Number of shares at the end of the year
79.12 791.19
80.00 800.00
b) Terms / rights attached to equity shares
The Group has only one class of equity shares having a par value of
`
10 per share. Each holder of equity shares is entitled
to one vote per share. The Group declares and pays dividends in Indian rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
The Parent Company declared an interim dividend of
`
8 per share on the face value of
`
10 each for the Financial Year
2018-19.
In the event of liquidation of the Parent Company, the holders of equity shares will be entitled to receive remaining assets
of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.
c) Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back
during the period of five years immediately preceding the reporting date
For the period of five years
ended March 31, 2019
No in Million
For the period of five years
ended March 31, 2018
No in Million
Equity shares allotted on March 12, 2015 as
fully paid bonus shares by capitalization of
securities premium
`
400 million
40.00
40.00
Equity shares bought back
0.88
-
d) Buyback of Equity Shares of the Parent Company:
The Board of Directors of Persistent Systems Limited (“the Parent Company”), at its meeting in January 2019, approved
the buyback of the Parent Company’s fully paid-up equity shares of the face value of
`
10 each from its shareholders/
beneficial owners excluding promoters, promoter group and persons who are in control of the Parent Company, via the
“open market” route through the stock exchanges, for a total amount not exceeding
`
2,250 million (“Maximum Buyback
Size”), and at a price not exceeding
`
750 per Equity Share (“Maximum Buyback Price”).
Notes forming part of consolidated financial statements (Contd.)