DRIVIN G ROWTH - Dr. Reddy's

statement of cash flows | FOR
THE YEARS ENDED MARCH 31
(US $)
2002 2001
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
Adjustments to reconcile net income (loss) to net cash
provided (used) by operating activities:
845,339 (4,141,513)
Depreciation and amortisation 82,529 39,363
Deferred loan costs – (28,808)
Security deposits (169,431) (72,308)
Deferred income taxes (103,000) (280,000)
Gain on sale of assets (41,868) –
Cumulative effect of a change in accounting principle
(Increase) decrease in
– 3,714,614
Accounts receivable (18,595,987) (6,372,703)
Accounts receivable, related parties 26,850 (657,744)
Inventory 1,452,943 1,775,523
Other receivables 190,518 (190,518)
Prepaid expenses (124,851) (69,246)
Advances
Increase (decrease) in
(13,585) (3,600)
Accounts payable, related party 14,867,994 3,543,606
Accounts payable and accrued expenses 3,126,669 781,439
Income taxes payable 487,235 –
Deferred revenue – (660,000)
Payroll taxes payable – (14,589)
Net cash provided (used) by operating activities 2,031,355 (2,636,484)
Cash Flows from investing activities
Sales proceeds from fixed assets 491,436 –
Acquisition of fixed assets (431,033) (50,208)
Promissory note receivable (65,000) –
Net cash used by investing activities (4,597) (50,208)
Cash Flows from financing activities
Loan proceeds 3,039,593 3,000,000
Loan payments (3,000,000) –
Redemption of stock (2,599,169) –
Net cash provided (used) by financing activities (2,559,576) 3,000,000
Net increase (decrease) in cash (532,818) 313,308
Cash – beginning 676,197 362,889
Cash – end 143,379 676,197
Supplemental disclosures of cash flow information
Cash paid during the year for:
Interest 390,904 119,903
The accompanying notes are an integral part of these financial statements.
DR. REDDY’S LABORATORIES, INC. | FINANCIALS | ANNUAL REPORT 2001-2002
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