|
CASH
FLOW STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2006 |
| |
|
Rs.
in Million |
| |
|
2006 |
2005 |
| A. |
CASH FLOW FROM OPERATING ACTIVITIES |
|
|
| |
Net profit before
exceptional items |
4,429.76 |
1,901.34 |
| |
Adjustments for : |
|
|
| |
Depreciation / Amortization |
1,067.50 |
1,013.33 |
| |
Assets written off |
2.14 |
29.54 |
| |
Deferred employees compensation |
26.35 |
32.68 |
| |
Unrealised foreign exchange gain |
(270.74) |
(221.54) |
| |
Dividend income |
(10.25) |
(30.91) |
| |
Profit on disposal of investments |
(0.01) |
(424.50) |
| |
(Profit) / Loss on sale
of fixed assets (Net) |
(3.54) |
29.29 |
| |
Interest expense |
584.44 |
264.11 |
| |
Interest income |
(201.05) |
(139.76) |
| |
Amounts written off |
18.16 |
163.27 |
| |
Provision / (Reversal)
for doubtful debts and advances |
44.74 |
(225.08) |
| |
|
1,257.74 |
490.43 |
| |
Operating profit
before working capital changes |
5,687.50 |
2,391.77 |
| |
Adjustments for : |
|
|
| |
Inventories |
(639.79) |
(278.31) |
| |
Sundry debtors / receivables |
(2,283.67) |
(110.69) |
| |
Loans and advances |
(451.01) |
158.95 |
| |
Trade / Other payables |
122.66 |
(743.88) |
| |
Other current assets |
513.23 |
(566.61) |
| |
|
(2,738.58) |
(1,540.54) |
| |
Net cash generated
from operating activity |
2,948.92 |
851.23 |
| |
Direct taxes paid (Net of refunds) |
205.94 |
221.94 |
| |
Net cash from
operating activities |
3,154.86 |
1,073.17 |
| B. |
CASH FLOW FROM
INVESTING ACTIVITIES |
|
|
| |
Purchase of fixed assets
/ capital works-in-progress |
(2,158.19) |
(6,258.89) |
| |
Consideration received
for discontinued business |
– |
780.10 |
| |
Sale proceeds of fixed
assets |
61.11 |
91.35 |
| |
Investment in Subsidiaries |
(202.00) |
(878.89) |
| |
Other investments |
(18,969.70) |
(13.64) |
| |
Sale proceeds of investments |
0.01 |
480.00 |
| |
Short term deposit / secured loans |
16.35 |
5.68 |
| |
Interest received |
204.81 |
135.73 |
| |
Dividend received |
10.25 |
30.91 |
| |
Net cash used in investing
activities |
(21,037.36) |
(5,627.65) |
| C. |
CASH FLOW FROM FINANCING ACTIVITIES |
|
|
| |
Proceeds from issue of capital (including
premium) |
63.32 |
135.53 |
| |
Increase in bank borrowings |
2,153.73 |
9,101.29 |
| |
Proceeds from FCCB |
19,553.60 |
– |
| |
Increase / (Decrease) in other borrowings |
38.56 |
(5.14) |
| |
Interest paid |
(573.73) |
(262.12) |
| |
FCCB issue expenses |
(227.50) |
– |
| |
Dividend paid |
(3,167.27) |
(3,164.26) |
| |
Tax on Dividend |
(444.20) |
(443.80) |
| |
Net cash from financing
activities |
17,396.51 |
5,361.50 |
| |
INCREASE / (DECREASE) IN CASH
AND CASH EQUIVALENTS |
(485.99) |
807.02 |
| |
Cash and cash equivalents at the
beginning |
1,109.56 |
302.54 |
| |
Cash and cash equivalents at the
close |
623.57 |
1,109.56 |
| Notes : |
|
|
| |
Cash and cash equivalents include : |
|
|
| |
Cash and cheques in hand and remittances
in transit |
80.48 |
204.93 |
| |
With banks in : |
|
|
| |
Current accounts [Net of dividend accounts
Rs. 87.06 Mn (Previous year Rs. 55.27 Mn)] |
103.09 |
44.63 |
| |
Deposit accounts [Net of pledged Rs. 0.88
Mn (Previous year Rs. 1.05 Mn)] |
440.00 |
860.00 |
| |
|
623.57 |
1,109.56 |
| This is the cash flow statement referred
to in our report of even date |
| |
On behalf of the Board of Directors
|
For WALKER, CHANDIOK & CO
Chartered Accountants
|
TEJENDRA KHANNA
Chairman
|
| VINOD CHANDIOK
Partner
Membership No. 10093
|
DR. BRIAN W. TEMPEST
Chief Mentor &
Executive Vice Chairman
MALVINDER MOHAN SINGH
CEO & Managing Director
|
| |
ATUL SOBTI
Chief Operating Officer &
Whole-time Director
|
| |
RAM S. RAMASUNDAR
President & CFO
|
| Place : Gurgaon
Dated : March 29, 2007
|
SUSHIL K. PATAWARI
Secretary
|
