Together good things happen - Airtel
Together good things happen - Airtel Together good things happen - Airtel
Particulars A. Cash flow from operating activities: (Rs '000) For the year ended For the year ended March 31, 2010 March 31, 2009 Net profit before tax 108,954,366 85,910,130 Adjustments for: Depreciation 61,994,095 46,727,692 Interest Expense and other Finance Charges 6,365,408 5,030,519 Interest Income (1,655,282) (1,858,591) (Profit)/Loss on Sale of Assets (Net) 430,075 25,735 (Profit)/Loss on sale of Investments (1,891,323) (2,592,369) Amortisation of ESOP Expenditure 1,446,352 894,878 Lease Equalisation / FCCB Premium 1,378,418 1,161,147 Amortisation of Goodwill 850,280 800,355 Provision for Deferred Bonus/ Long Term Service Award 239,969 582,841 Licence fee Amortisation 1,253,358 1,217,408 Bad Debts/Advances Written off 729,936 815,967 Provision for Bad and Doubtful Debts/Advances (Net of write back) 2,766,675 3,002,326 Liabilities / Provisions no longer required written back (528,124) (577,057) Provision for Gratuity and Leave Encashment 311,215 362,092 Provision for Inventory for obsolete/Damaged stock 1,109,753 519,726 Unrealized Foreign Exchange (gain)/loss (8,509,232) 15,393,148 Provision for Warranty 1,230 (4,470) Loss from swap arrangements 87,713 65,433 Provision for Wealth Tax (Net) 496 540 Operating profit before working capital changes 175,335,378 157,477,450 Adjustments for changes in working capital : - (Increase)/ Decrease in Sundry Debtors (5,650,072) (4,817,031) - (Increase)/ Decrease in Other Receivables 13,444,470 (24,816,570) - (Increase)/ Decrease in Inventory 260,764 (340,107) - Increase/ (Decrease) in Trade and Other Payables (5,497,375) 22,450,023 Cash generated from operations 177,893,165 149,953,765 Taxes (Paid)/Received (23,328,650) (12,838,132) Net cash from operating activities 154,564,515 137,115,633 B. Cash flow from investing activities: Purchase of fixed assets (125,077,287) (168,589,591) Proceeds from Sale of fixed assets 6,216,850 1,868,859 Proceeds from Sale of Investments 358,118,406 420,787,078 Purchase of Investments (384,314,092) (393,572,466) Dilution in Equity of Subsidiary Company - 1,186,499 Interest Received 2,116,272 1,362,657 Purchase of Fixed Deposits (with maturity more than three months) (17,436,582) (14,915,238) Proceeds from Maturity of Fixed Deposits (with maturity more than three months) 27,301,700 300,027 Acquisition/ Subscription/Investment in Subsidiaries/ Associate (13,956,352) (181,518) Net cash (used) in investing activities (147,031,085) (151,753,693)
Particulars C. Cash flow from financing activities: Notes : As per our report of even date For the year ended For the year ended March 31, 2010 March 31, 2009 Proceeds from fresh issue of Share Capital (including Share Premium ) - 149,400 Issue of Shares under ESOP Scheme (including share application) 164,489 176,058 Proceeds from long term borrowings Receipts 42,674,309 27,462,693 Payments (36,410,116) (15,288,260) Proceeds from short term borrowings Net movement in cash credit facilities and short term loans (8,504,888) 12,796,423 Dividend Paid (3,796,103) - Tax on dividend paid (645,274) (4,669,973) Interest Paid (7,169,731) - Gain/(loss) from swap arrangements (61,911) 22,156 Net cash (used) in financing activities (13,749,225) 20,648,497 Net Increase/(Decrease) in Cash and Cash Equivalents (6,215,795) 6,010,437 Opening Cash and Cash Equivalents 12,964,818 6,954,381 Cash Acquired on Acquisition of Warid Telecom International Limited 14,207,520 - Cash and Cash Equivalents as at year end 20,956,543 12,964,818 Cash and Cash Equivalents comprise: (Rs '000) Cash and Cheques in hand 361,913 639,948 Balance with Scheduled Banks 25,424,409 27,019,767 Cash & Bank Balances as per schedule 9 25,786,322 27,659,715 Less: - Fixed deposits not considered as cash equivalents 4,829,779 14,694,897 Cash & Cash Equivalents in Cash Flow Statement 20,956,543 12,964,818 1 Figures in brackets indicate cash out flow 2 The above Cash flow statement has been prepared under the Indirect method setout in AS-3 'Cash Flow Statements' notified under the Companies (Accounting Standard) Rules, 2006 (as amended) 3 Cash and cash equivalents includes Rs 389,199 thousands pledged with various authorities (March 31, 2009 Rs 96,101 thousands) which are not available for use by the Company. Cash and cash equivalents also includes Rs 739 thousand as unpaid dividend 4 During the year, the Group has acquired stake in Alcatel-Lucent Network Management Services India Limited for Rs 90,000 thousand. The Group has further made an investment of Rs 13,912,175 thousand in Warid Telecom International Limited. (Previous year acquisition of equity in Bharti Hexacom Limited at a purchanse consideration of Rs 166,818 thousand) 5 Previous year figures have been regrouped and recast wherever necessary to conform to the current year's classification Bharti Airtel Annual Report 2009-10 For S.R. BATLIBOI & ASSOCIATES For and on behalf of the Board of Directors of Bharti Airtel Limited Firm Registration No: 101049W Chartered Accountants per Prashant Singhal Sunil Bharti Mittal Manoj Kohli Partner Chairman and Managing Director CEO (International) & Membership No: 93283 Joint Managing Director Place : New Delhi Sanjay Kapoor Vijaya Sampath Srikanth Balachander Date: April 28, 2010 CEO (India & South Asia) Group General Counsel & Chief Financial Officer Company Secretary 119
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Particulars<br />
C. Cash flow from financing activities:<br />
Notes :<br />
As per our report of even date<br />
For the year ended For the year ended<br />
March 31, 2010 March 31, 2009<br />
Proceeds from fresh issue of Share Capital (including Share Premium ) - 149,400<br />
Issue of Shares under ESOP Scheme (including share application) 164,489 176,058<br />
Proceeds from long term borrowings<br />
Receipts 42,674,309 27,462,693<br />
Payments (36,410,116) (15,288,260)<br />
Proceeds from short term borrowings<br />
Net movement in cash credit facilities and short term loans (8,504,888) 12,796,423<br />
Dividend Paid (3,796,103) -<br />
Tax on dividend paid (645,274) (4,669,973)<br />
Interest Paid (7,169,731) -<br />
Gain/(loss) from swap arrangements (61,911) 22,156<br />
Net cash (used) in financing activities (13,749,225) 20,648,497<br />
Net Increase/(Decrease) in Cash and Cash Equivalents (6,215,795) 6,010,437<br />
Opening Cash and Cash Equivalents 12,964,818 6,954,381<br />
Cash Acquired on Acquisition of Warid Telecom International Limited 14,207,520 -<br />
Cash and Cash Equivalents as at year end 20,956,543 12,964,818<br />
Cash and Cash Equivalents comprise:<br />
(Rs '000)<br />
Cash and Cheques in hand 361,913 639,948<br />
Balance with Scheduled Banks 25,424,409 27,019,767<br />
Cash & Bank Balances as per schedule 9 25,786,322 27,659,715<br />
Less: - Fixed deposits not considered as cash equivalents 4,829,779 14,694,897<br />
Cash & Cash Equivalents in Cash Flow Statement 20,956,543 12,964,818<br />
1 Figures in brackets indicate cash out flow<br />
2 The above Cash flow statement has been prepared under the Indirect method setout in AS-3 'Cash Flow Statements' notified under the Companies<br />
(Accounting Standard) Rules, 2006 (as amended)<br />
3 Cash and cash equivalents includes Rs 389,199 thousands pledged with various authorities (March 31, 2009 Rs 96,101 thousands) which are not<br />
available for use by the Company. Cash and cash equivalents also includes Rs 739 thousand as unpaid dividend<br />
4 During the year, the Group has acquired stake in Alcatel-Lucent Network Management Services India Limited for Rs 90,000 thousand. The Group has<br />
further made an investment of Rs 13,912,175 thousand in Warid Telecom International Limited. (Previous year acquisition of equity in Bharti Hexacom<br />
Limited at a purchanse consideration of Rs 166,818 thousand)<br />
5 Previous year figures have been regrouped and recast wherever necessary to conform to the current year's classification<br />
Bharti <strong>Airtel</strong> Annual Report 2009-10<br />
For S.R. BATLIBOI & ASSOCIATES For and on behalf of the Board of Directors of Bharti <strong>Airtel</strong> Limited<br />
Firm Registration No: 101049W<br />
Chartered Accountants<br />
per Prashant Singhal Sunil Bharti Mittal Manoj Kohli<br />
Partner Chairman and Managing Director CEO (International) &<br />
Membership No: 93283 Joint Managing Director<br />
Place : New Delhi Sanjay Kapoor Vijaya Sampath Srikanth Balachander<br />
Date: April 28, 2010 CEO (India & South Asia) Group General Counsel & Chief Financial Officer<br />
Company Secretary<br />
119
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