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