Cash flow statements

for the year ended 31st March 2014

(₹ in Crores)  

  2013-2014 2012-2013
A. CASH FLOW FROM OPERATING ACTIVITIES
  Net profit before Tax 50.10 216.82
  Adjustments for :
  Add:
  Depreciation 5.91 5.90
  Adjustment on Merger (303.85) -
  Interest expenses 98.91 161.57
  (Profit)/Loss on sale of assets - 0
  (199.03) 167.47
  Less:
  Dividend Income 2.09 1.84
  Interest Income 97.24 183.55
  99.33 185.39
  Operating profit before working capital changes (248.26) 198.9
  Adjustments for :
  Less:
  (Increase)/Decrease in Trade Receivables (155.86) 224.78
  (Increase)/Decrease in Inventories (594.23) (25.58)
  (Increase)/Decrease in Loans & Advances (Long term) 560.76 118.62
  (Increase)/Decrease in Loans & Advances (Short term) 3.10 0.13
  Increase/(Decrease) in Trade Payables (19.71) 59.26
  Increase/(Decrease) in Long Term Provision 0.32 (1.62)
  Increase/(Decrease) in Other Current Liabilities (1.13 (30.56)
  Increase/(Decrease) in Short term provision 0.32 0.91
  (120.49) 345.94
  Cash Generated from Operations (368.75) 544.84
  Less : Direct Tax paid net of Tax Refund (16.26) (44.82)
  Net cash flow from Operating Activities -( A ) (385.01) 500.02
 
B. CASH FLOW FROM INVESTING ACTIVITIES
  ( Addition to Fixed Assets ) / Capital Advance Repaid (Net) 2.83 (5.86)
  Sale of Fixed Assets - 0.00
  Investments in Subsidiary (13.98) -
  Investments in Debentures (9.99) (13.45)
  Redemption of Debentures 0.24 -
  Investments in JV LLP (0.05) 2.70
  Investments in Associates LLP (0.40) -
  Refund of advance to Employee 's ESOP Trust 0.51 0.39
  (Contribution)/Receipt from AOP (0.08) (0.66)
  Loans & Advances Given (97.91) (393.03)
  Loans & Advances Repaid 272.14 6.09
  Investments in Fixed Deposit 19.25 (22.40)
  Movement in Margin money deposit account (0.20) 0.26
  Dividend Income 2.09 1.84
  Interest Received 97.17 153.46
  Net cashflow from Investing Activities -(B ) 271.62 (270.66)
C. CASH FLOW FROM FINANCING ACTIVITIES
  Dividend paid (41.85) (30.72)
  Dividend Tax Paid (7.12) (4.99)
  Expenses on issue of Debentures (8.08) (23.03)
  Tax Effect on issue of Debentures (4.16) -
  Interest paid (84.72) (141.51)
  Proceeds from Long Term Borrowings-Bank 135.00 260.00
  Proceeds from Long Term Borrowings-Others 40.00 -
  Proceeds from Long Term Borrowings- Bank Repayment (313.39) (157.99)
  Proceeds from Long Term Borrowings- Debenture 257.00 380.00
  Proceeds from Long Term Borrowings- Debenture Repayment 18.23 -
  Proceeds from Long Term Borrowings -Financial Institution 102.87 66.10
  Proceeds from Long Term Borrowings-Financial Institution Repayment (29.69) (646.90)
  Proceeds from Short Term Borrowings 66.85 (28.85)
  Net cashflow from Financing Activities - (C ) 94.48 (327.89)
  Net Increase in Cash and Cash Equivalents (A+B+C) (18.91) (98.53)
  Cash and cash Equivalent at the Beginning of the year 151.16 249.69
  Balances with Banks in Current Account 42.49 38.94
  Balance with Banks in Deposit Account 89.52 112.16
  Cash on Hand 0.24 0.06
  Cash and cash Equivalent at the End of the year 132.25 151.16

NOTE :1

During the year Company has invested ` 14.18 Cr in Subsidiary Companies and same have been cancelled under Composite scheme of Arrangement and amalgamation U/S 391 to 394 of the Companies Act 1956 .Hence the said transactions are not reflected in the cashflow statements

 

As per our attached report of even date

    For and on behalf of the Board of Directors

For Haribhakti & Co.
Chartered Accountants

Urvi A. Piramal
Chairperson

Rajeev A. Piramal
Vice Chairman &
Managing Director

Mahesh S. Gupta
Group Managing Director

Chetan Desai
Partner

D.M. Popat
Director

Amitabha Ghosh
Director

Dr. Ajay Dua
Director

 

Sudhindar Khanna
Director

Deepak Summanwar
Director

 

Place: Mumbai
Date : 26th May 2014

Bharat Sanghavi
Chief Financial Officer

Rajashekhar Reddy
Company Secretary