Cash flow statements

for the year ended 31st March 2014

(₹ in Crores)  

  2013-2014 2013-2014
A CASH FLOW FROM OPERATING  ACTIVITIES
Net profit before Tax 45.63 217.32
Adjustments for :
Add  :
Depreciation 6.53 6.62
Adjustment  on Merger / Capital Reserve acquired on  Merger (227.81) 0.65
Interest expenses 104.95 161.63
Loss on sale of assets - 0.00
(116.33) 168.90
Less:
Dividend Income 3.49 3.09
Prior Period Expenses / (Income) (0.01) (0.12)
Interest Income 99.92 185.56
103.4 188.53
Operating  profit before working capital changes (174.1) 197.69
Adjustments for :
Less:
(Increase)/Decrease in Trade Receivables (151.16) 219.88
(Increase)/Decrease in Inventories 109.21 (329.85)
(Increase)/Decrease in Loans & Advances (Long term) (38.71) 114.98
(Increase)/Decrease in Loans & Advances (Short term) 11.75 49.24
(Increase)/Decrease in Other current Assets 19.00 (2.78)
Increase/(Decrease) in Trade Payables (33.93) 45.09
Increase/(Decrease) in Long Term Provision (1.01) (1.75)
Increase/(Decrease) in Other Current Liabilities 33.63 17.13
Increase/(Decrease) in Short term provision 0.31 0.91
(50.92) 112.85
Cash Generated from Operations (225.02) 310.54
Less : Direct Tax paid net of  Tax Refund (16.03) (47.9)
Net cash flow from Operating Activities (241.05) 262.64
B CASH FLOW FROM INVESTING ACTIVITIES
( Addition to  Fixed Assets ) / Capital Advance Repaid  (Net) 2.39 (5.82)
Additional Investments in Subsidiary (0.04) (13.76)
Sale of Fixed Assets 0.05 0.02
Adjustment   of  goodwill  on  Consolidation   persuant  to  merger scheme 70.24 -
Investments in Equity-Associates - 0.24
Investments in Equity Instruments-Others (0.01) -
Investments in Real estate  Fund (1.37) -
Investments in Debentures (9.98) (13.44)
Redemption  of Debentures 0.24 -
(Purchase ) / Sale of Investments  in Mutual Fund 14.24 (17.04)
Refund of advance to Employee 's  ESOP Trust 0.51 0.39
Contribution of Minority in Firm/Association of Person 4.84 9.58
(Investments)/ Redemption  of  Fixed Deposit with Bank (12.87) (24.88)
Movement  in Margin money deposit account (0.10) 0.25
Loans & Advances  given (35.43) (135.42)
Loans & Advances  repaid 80.66 18.47
Dividend Income 3.49 3.09
Interest Received 98.69 133.25
Net cashflow from Investing Activities 215.55 (45.07)
C CASH FLOW FROM   FINANCING   ACTIVITIES
Dividend Paid (41.89) (30.71)
Dividend Tax Paid (7.12) (4.98)
Interest paid (90.76) (141.57)
Proceeds from Long Term Borrowings-Bank 203.3 260
Proceeds from Long Term Borrowings-Others 45.98 -
Proceeds from Long Term Borrowings-Others-Repayment (75.00) (5.72)
Proceeds from Long Term Borrowings- Bank Repayment (380.89) (157.99)
Proceeds from Long Term Borrowings- Debenture 257 380
Proceeds from Long Term Borrowings- Debenture -Repayment (18.23) -
Proceeds from Long Term Borrowings -Financial Institution 75.99 72.99
Proceeds    from   Long   Term   Borrowings   -Financial   Institution-Repayment (29.69) (646.9)
Proceeds from Borrowings ( Short Term Borrowings) 72.35 (28.85)
Tax Effect on Debenture issue expenses (4.16) -
Expenses on Issue of Debenture (8.08) (23.03)
Net cashflow from Financing Activities (1.19) (326.76)
Net Increase in Cash and Cash Equivalents (A+B+C) (26.7) (109.19)
Cash and cash Equivalent at the Beginning of the year 166.6 275.79
Balances with Banks in  Current Account 50.06 48.89
Cheque  in Hand 0.00 0.02
Balance with Banks in Deposit Account 89.51 117.37
Cash on Hand 0.33 0.32
Cash and Cash Equivalents at the end of the year 139.90 166.60

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