Annual Report 2010-2011 - Gammon India

70
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH, 2011
A NNUAL R EPORT I 2010/11
12 Months
APRIL 2010 – MARCH 2011
` in Crores
12 Months
APRIL 2009 – MARCH 2010
` in Crores
A. CASH FLOW FROM OPERATING ACTIVITIES
Net Profit before Tax and extraordinary items 176.68 211.25
Adjustments for:
Depreciation 91.71 70.93
Profit/Loss on Sale of Assets (0.14) 0.32
Profit/Loss on Sale of Investments (25.86) (38.82)
Employees Compensation Expenses 0.20 0.55
Dividend Income (0.36) (0.39)
Interest (Net) 12.31 139.66
Foreign Exchange loss /gain 13.43 0.65
Write off against Leasehold Land 0.03 0.01
Provision for Doubtful Debt 0.35 3.15
Bad Debts Written off 4.94 4.07
96.61 180.13
Operating Profit before Working Capital Changes 273.29 391.38
Adjustments for:
Trade and Other Receivables (107.54) (424.35)
Inventories (178.95) (298.05)
Trade Payables & Working Capital Finance (10.82) 409.20
Loan and Advances (6.64) (79.89)
(303.95) (393.09)
Cash Generated from the Operations (30.66) (1.71)
Direct Taxes paid (135.02) (84.27)
NET CASH FROM OPERATING ACTIVITIES (165.68) (85.98)
B. CASH FLOW FROM INVESTMENT ACTIVITIES
Purchase of Fixed Assets (312.99) (259.46)
Sale of Fixed Assets 4.83 1.34
Share Application Money Pending Allotment 23.00 5.76
Loans given to Subsidiaries, Associates and others (766.12) (371.08)
Loans Refund from Subsidiaries, Associates and others 541.66 243.83
Purchase of Investments
– Subsidiary, Joint Ventures & Associates (42.71) (6.98)
– Deposit paid on acquisition of shares – –
– Others (1.05) (11.09)
Sale of Investments:
– Subsidiary, Joint Ventures & Associates – –
– Deposit received on transfer of beneficial interest 5.35 32.69
– Others 27.83 41.21
Interest received 44.49 32.29
Dividend received 0.36 0.39
NET CASH FROM INVESTMENT ACTIVITIES (475.35) (291.10)
C. CASH FLOW FROM FINANCING ACTIVITIES
Interest Paid (239.99) (190.95)
Proceeds from issue of Share Capital & Securities Premium 56.01 385.22
Repayment of Preference Share Capital – (105.00)
Proceeds from/(Repayment of) borrowings 831.46 322.27
Dividend Paid (Including Tax) (21.34) (12.68)
NET CASH FROM FINANCING ACTIVITIES 626.14 398.86
NET INCREASE IN CASH AND CASH EQUIVALENTS (14.89) 21.78
Balance as on 31.03.2010 72.49 51.36
Balance as on 31.03.2011 57.60 73.14
NET INCREASE IN CASH AND CASH EQUIVALENTS (14.89) 21.78
Note: – Figure in brackets denote outflows
– Cash and Cash Equivalents include ` 2.71 Crores as on 31.03.2011 (Previous Year – ` 1.93 Crores as on 31.03.10) with Bank
Branch in Foreign countries relating to certain Foreign Projects which are not readily available for use by the Company.
As At As At
31.03.2011 31.03.2010
Cash and Cash Equivalents 57.65 72.49
Effect of Exchange Rate Charges (0.05) 0.65
Balance Restated above 57.60 73.14
As per our attached report of even date
For Natvarlal Vepari & Co.
Chartered Accountants
Firm Registration No. 106971W
N. JAYENDRAN
Partner
M. No. 40441
For and on behalf of the Board of Directors
Mumbai, Dated : 12 th August, 2011 Mumbai, Dated : 12 th August, 2011
ABHIJIT RAJAN ROHIT MODI
Chairman & Managing Director Deputy Managing Director
C. C. DAYAL D. C. BAGDE
Director Executive Director
GIRISH BHAT GITA BADE
Chief Financial Officer Company Secretary