Together good things happen - Airtel
Together good things happen - Airtel Together good things happen - Airtel
Particulars A. Cash flow from operating activities: For the year ended For the year ended March 31, 2010 March 31, 2009 Net profit before tax 106,992,486 81,615,367 Adjustments for: Depreciation 38,900,775 32,062,839 Interest Expense and other finance charges 2,744,835 4,275,619 Interest Income (1,037,032) (1,489,138) (Profit)/Loss on Sale of Assets (Net) 170,856 (38,899) (Profit)/Loss on sale of Investments (1,839,461) (2,354,840) Amortisation of ESOP Expenditure 934,185 648,318 Lease Equalisation / FCCB Premium 2,768,003 2,146,723 Provision for Deferred Bonus / Long Term Service Award 158,828 462,578 Licence fee Amortisation 1,144,252 1,141,184 Debts / Advances Written off 718,460 756,695 Provision for Bad and Doubtful Debts/Advances (Net of write back) 2,267,530 2,684,358 Liabilities / Provisions no longer required written back (444,478) (497,718) Provision for Gratuity and Leave Encashment 198,081 214,860 Provision for Inventory for obsolete/ Damaged stock 672,131 228,944 Unrealized Foreign Exchange (gain) /loss (8,601,497) 15,163,507 Loss/(Gain) from swap arrangements 87,713 65,433 Provision for Wealth Tax 496 540 Operating profit before working capital changes 145,836,163 137,086,370 Adjustments for changes in working capital: - (Increase)/Decrease in Sundry Debtors 1,581,333 (1,468,398) - (Increase)/Decrease in Other Receivables (4,318,434) (5,425,128) - (Increase)/Decrease in Inventory 157,982 (281,847) - Increase/(Decrease) in Trade and Other Payables 3,389,803 4,298,401 Cash generated from operations 146,646,847 134,209,398 Taxes (Paid) / Received (19,720,501) (10,311,097) Net cash from operating activities 126,926,346 123,898,301 B. Cash flow from investing activities: Adjustments for changes in: Purchase of fixed assets (72,552,618) (92,108,430) Proceeds from Sale of fixed assets 357,462 1,940,680 Proceeds from Sale of Investments 291,901,466 273,605,929 Purchase of Investments (315,708,823) (279,523,969) Interest Received 1,193,411 1,300,902 Net movement in advances given to Subsidiary Companies (6,763,816) (4,728,979) Purchase of Fixed Deposits (with maturity more than three months) (17,436,582) (14,915,238) Proceeds from Maturity of Fixed Deposits (Rs '000) (with maturity more than three months) 27,301,700 300,027 Acquisition/ Subscription/Investment in Subsidiaries/ Associate / Joint Venture (14,308,791) (181,518) Net cash used in investing activities (106,016,591) (114,310,596)
Particulars C. Cash flow from financing activities: As per our report of even date For the year ended For the year ended March 31, 2010 March 31, 2009 Issue of Shares under ESOP Scheme (including share application) 164,489 176,060 Proceeds from long term borrowings Receipts 7,180,930 13,454,721 Payments (25,416,927) (15,288,260) Proceeds from short term borrowings Net movement in cash credit facilities and short term loans 495,801 (916,551) Dividend Paid (3,796,101) - Tax on dividend paid (645,274) (4,168,114) Interest Paid (3,314,254) - Gain /(Loss) from swap arrangements (61,913) 22,156 Net cash used in financing activities (25,393,249) (6,719,988) Net Increase/(Decrease) in Cash and Cash Equivalents (4,483,494) 2,867,717 Opening Cash and Cash Equivalents 7,898,804 5,027,378 Cash and Cash Equivalents acquired on amalgamation - 3,709 Cash and Cash Equivalents as at year end 3,415,310 7,898,804 Cash and Cash Equivalents comprise: Bharti Airtel Annual Report 2009-10 (Rs '000) Cash and Cheques on hand 294,905 445,518 Balance with Scheduled Banks 7,872,510 22,070,509 Cash & Bank Balances as per schedule 9 8,167,415 22,516,027 Less: Fixed deposits not considered as cash equivalents 4,752,105 14,617,223 Cash & Cash Equivalents in Cash Flow Statement 3,415,310 7,898,804 Notes : 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 15,563 thousands pledged with various authorities (March 31, 2009- Rs 18,177 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 Company has acquired stake in following subsidiary/ joint venture : a) Acquired 26% stake in Alcatel-Lucent Network Management Services India Limited for a consideration of Rs 90,000 thousand. b) Acquired additional 55% stake in Bharti Telemedia Limited for a consideration of Rs 73,795 thousand. c) Investment of Rs 14,141,667 thousand in Bharti Airtel Holding (Singapore) Pte Limited for acquisition of 70% stake in Warid Telecom International Limited. d) Acquired 1.48% stake in Bharti International (Singapore) Pte. Ltd at a consideration of Rs 137 thousand. e) Acquired 1.10% stake in Bharti Airtel International (Netherlands) B.V. at a consideration of Rs 12 thousand (Previous year acquisition of equity in Bharti Hexacom Limited at a purchanse consideration of Rs 166,818 thousand). 5 Advances given to Subsidiary Companies have been reported on net basis. 6 Previous year figures have been regrouped and recast wherever necessary to conform to the current year classification. 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 71
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Particulars<br />
C. Cash flow from financing activities:<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 />
Issue of Shares under ESOP Scheme (including share application) 164,489 176,060<br />
Proceeds from long term borrowings<br />
Receipts 7,180,930 13,454,721<br />
Payments (25,416,927) (15,288,260)<br />
Proceeds from short term borrowings<br />
Net movement in cash credit facilities and short term loans 495,801 (916,551)<br />
Dividend Paid (3,796,101) -<br />
Tax on dividend paid (645,274) (4,168,114)<br />
Interest Paid (3,314,254) -<br />
Gain /(Loss) from swap arrangements (61,913) 22,156<br />
Net cash used in financing activities (25,393,249) (6,719,988)<br />
Net Increase/(Decrease) in Cash and Cash Equivalents (4,483,494) 2,867,717<br />
Opening Cash and Cash Equivalents 7,898,804 5,027,378<br />
Cash and Cash Equivalents acquired on amalgamation - 3,709<br />
Cash and Cash Equivalents as at year end 3,415,310 7,898,804<br />
Cash and Cash Equivalents comprise:<br />
Bharti <strong>Airtel</strong> Annual Report 2009-10<br />
(Rs '000)<br />
Cash and Cheques on hand 294,905 445,518<br />
Balance with Scheduled Banks 7,872,510 22,070,509<br />
Cash & Bank Balances as per schedule 9 8,167,415 22,516,027<br />
Less: Fixed deposits not considered as cash equivalents 4,752,105 14,617,223<br />
Cash & Cash Equivalents in Cash Flow Statement 3,415,310 7,898,804<br />
Notes :<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 15,563 thousands pledged with various authorities (March 31, 2009- Rs 18,177 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 Company has acquired stake in following subsidiary/ joint venture :<br />
a) Acquired 26% stake in Alcatel-Lucent Network Management Services India Limited for a consideration of Rs 90,000 thousand.<br />
b) Acquired additional 55% stake in Bharti Telemedia Limited for a consideration of Rs 73,795 thousand.<br />
c) Investment of Rs 14,141,667 thousand in Bharti <strong>Airtel</strong> Holding (Singapore) Pte Limited for acquisition of 70% stake in Warid Telecom<br />
International Limited.<br />
d) Acquired 1.48% stake in Bharti International (Singapore) Pte. Ltd at a consideration of Rs 137 thousand.<br />
e) Acquired 1.10% stake in Bharti <strong>Airtel</strong> International (Netherlands) B.V. at a consideration of Rs 12 thousand (Previous year acquisition of equity in<br />
Bharti Hexacom Limited at a purchanse consideration of Rs 166,818 thousand).<br />
5 Advances given to Subsidiary Companies have been reported on net basis.<br />
6 Previous year figures have been regrouped and recast wherever necessary to conform to the current year classification.<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 />
71
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