Annexure XIV Continued… - Edelweiss

135.95 million, an increase in other current assets of ` 12.41 million and a decrease in current liabilities and
provisions of ` 157.65 million.
The net cash from operating activities in Fiscal 2008 was ` 1,046.38 million, primarily due to operating profit
before working capital changes of ` 1,779.00 million, an increase in current liabilities and provisions of `
417.10 million, offset in part by an increase in inventories of ` 139.07 million, an increase in sundry debtors of
` 446.15 million, an increase in other current assets of ` 2.41 million and an increase in loans and advances of
` 227.88 million.
The net cash used in operating activities in Fiscal 2007 was ` 38.04 million, primarily due to an increase in
inventories of ` 231.62 million, an increase in sundry debtors of ` 404.18 million, an increase in loans and
advances of ` 159.86 million and a decrease in current liabilities and provisions of ` 86.24 million, offset in
part by operating profit before working capital changes of ` 1,078.35 million.
Net cash flows used in investing activities
Net cash used in investing activities was ` 9,298.23 million during the nine month period ended December 31,
2010, primarily due to capital expenditures incurred on projects under construction, including our 270 MW
Korba Power Project, our 50 MW Ratija Power Project and our Himgir beneficiation plant at Orissa. In
addition, we paid ` 300.00 million to acquire the outstanding shares of Spectrum Power and ` 2,940.00 million
to acquire 9,800,000 compulsorily convertible preference shares of SFI Parcel Services Private Limited.
Net cash used in investing activities was ` 4,073.32 million during Fiscal 2010, primarily due to capital
expenditures incurred on projects under construction, including our 270 MW Korba Power Project, our 50
MW Ratija Power Project and our Himgir beneficiation plant at Orissa. In addition, we made a partial payment
of ` 300.00 million to acquire 9.32% of the outstanding shares of Spectrum Power.
Net cash used in investing activities was ` 3,873.43 million during Fiscal 2009, primarily due to capital
expenditures incurred on projects under construction, including our 270 MW Korba Power Project, our 18
MW Jharsuguda Power Project and our coal beneficiation plant and railway siding at Sambalpur. In addition,
we paid ` 1,859.26 million to acquire Spectrum Coal.
Net cash used in investing activities was ` 1,550.14 million during Fiscal 2008, primarily due to capital capital
expenditures incurred on projects under construction, including our 18 MW Jharsuguda Power Project, our
coal beneficiation plant and railway siding at Sambalpur, our Gevra beneficiation plant and the addition of
2.00 million tons per annum of capacity at our Chakabura beneficiation plant
Net cash used in investing activities was ` 999.94 million during Fiscal 2007, primarily due to expenditure
incurred on our 30 MW Chakabura Power Project, our 18 MW Jharsuguda Power Project and railway siding at
Sambalpur.
Cash flows from financing activities
For the nine month period ended December 31, 2010, our cash flow from financing activities was ` 4,375.53.
This reflected a net increase in secured loans of ` 5,020.77 million and a net increase in unsecured loans of `
346.96 million. We used ` 1,113.45 million to pay interest and finance expenses and ` 131.32 million to pay
dividend and tax on dividend.
For Fiscal 2010, our cash flow from financing activities was ` 1,830.71 million. This reflected a net increase in
secured loans of ` 2,307.42 million and an issue of share capital and securities premium of ` 579.44 million
(net of repayment of share application money). We used ` 949.33 million to pay interest and finance expenses
and ` 106.82 million to pay a dividend and tax thereon.
For Fiscal 2009, our cash flow from financing activities was ` 5,479.51 million. This reflected a net increase in
secured loans of ` 4,728.07 million, a net increase in unsecured loans of ` 100.00 million and an issue of share
capital of ` 1,208.24 million (net of repayment of share application money). The increase in secured loans was
primarily a result of borrowings in Fiscal 2009 for the 270 MW Korba Power Project. We used ` 522.00
million to pay interest and finance expenses and ` 34.8 million to pay a dividend and tax thereon.
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