REC- 1-51.p65 - Rural Electrification Corporation Ltd.

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104 CONSOLIDATED CONSOLIDATED SIGNIFICANT ACCOUNTING POLICIES FOR THE YEAR ENDED 31.03.2010 1. Principles of consolidation The Consolidated Financial Statements relate to Rural Electrification Corporation Limited (‘the Company’) and its subsidiary companies. The consolidated financial statements have been prepared on the following basis: The financial statements of the Company and its subsidiary companies are combined on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses, after fully eliminating intra-group balances and intra-group transactions in accordance with Accounting Standard (AS) 21 – “Consolidated Financial Statements.” As far as possible, the consolidated financial statements are prepared using uniform accounting policies for like transactions and other events in similar circumstances and are presented in the same manner as the Corporation’s separate financial statements. 2. Other significant accounting policies These are set out under “Significant Accounting Policies” as given in the standalone Financial Statements of Rural Electrification Corporation Ltd. and its subsidiaries and fellow subsidiaries.
CONSOLIDATED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH 2010 PARTICULARS A. Cash Flow from Operating Activities : Year ended 31.03.2010 (Rs. in Lacs) Year ended 31.03.2009 Net Profit before Tax Adjustments for: 2,68,076.18 1,92,233.49 1. Profit / Loss on Sale of Fixed Assets -1.67 -1.03 2. Depreciation 217.75 137.07 3. Provision for fall in value of investments - 105.34 4. Provision for Bad & doubtful debts 22.18 237.05 5. Excess Provision written back -107.51 -0.37 6. Profit on sale/income of investment in units of “small is Beautiful Fund” -67.11 -11.02 7. Gain on Exchange Rate fluctuation - -1,142.17 8. Dividend from Subsidiary Co.- REC PDCL -5.00 - 9. Dividend and Dividend tax paid in excess of provision 0.90 - 10. Preliminary Expenses written off 0.13 11.68 Operating profit before working Capital Charges : Increase / Decrease : 2,68,135.85 1,91,570.04 1. Loans -15,07,138.98 -12,06,730.45 2. Sundry Debtors -4,356.78 -110.71 3. Other Current Assets -12,090.02 4,072.68 4.Other Loans & Advances 1,72,022.06 -4,480.45 5. Current Liabilities & Provisions -1,18,146.39 64,336.37 Cash outflow from Operations -12,01,574.26 -9,51,342.52 1. Advance Income Tax Paid -68,544.87 -48,211.25 2. Income Tax refund 2,049.58 3. Wealth Tax paid -36.65 -2.15 4. Fringe Benefit tax paid - -132.62 Net Cash used in Operating Activities B. Cash Flow from Investing Activities -12,68,106.20 -9,99,688.54 1. Sale of Fixed Assets 9.10 13.40 2. Purchase of Fixed Assets ( incl. Advance for Capital exp.) -1,368.74 -664.46 3. Redemption of 8% Government of Madhya Pradesh Power Bonds-II 9,432.00 14,148.00 4.Investments in units of “Small is Beautiful” Fund 238.50 - 5.Income on Investments in units of “Small is Beautiful” Fund 67.11 11.02 6.Investment in Shares of EESL -62.50 - 7.Preliminary Expenses -0.41 - 8.Dividend from REC Power Distribution Company Limited 5.00 - Net Cash used in investing Activities C. Cash Flow from Financial Activities 8,320.06 13,507.96 1. Issue of Bonds 16,59,115.39 13,80,733.12 2. Redemption of Bonds -8,36,162.65 -5,26,546.00 3. Raising of Term Loans/STL from Banks/Fis (Net) 1,06,037.86 38,825.00 4. Raising of Foreign Currency Loan 58,269.18 45,665.12 5. Grants received from GOI ( Net of refund) 5,01,976.13 5,44,621.74 6. Disbursement of grants -6,00,367.03 -5,11,410.03 7. Repayment of Govt. Loan -1,532.64 -1,718.00 8. Final Dividend paid -21,467.27 -25,759.80 9. Corporate Dividend Tax paid on Final Dividend -3,648.36 -4,377.88 10. Issue of Shares 12,879.90 - 11. Security Premium on issue of Shares 2,49,918.17 12. Issue of Commercial Paper 3,15,000.00 1,29,500.00 13. Repayment of Commercial Paper -1,99,500.00 14. Interim Dividend paid -25,759.80 -17,173.20 15. Corporate Dividend Tax paid on Interim Dividend -4,377.03 -2,918.58 Net Cash in-flow from Financing Activities 12,10,381.85 10,49,441.49 Net Increase/Decrease in Cash & Cash Equivalents -49,404.29 63,260.91 Cash & Cash Equivalents as at 1st April, 2009 1,88,827.09 1,25,566.18 Cash & Cash Equivalents as at 31st March, 2010 1,39,422.80 1,88,827.09 Net Increase/Decrease in Cash & Cash Equivalents -49,404.29 63,260.91 Note : Previous years figures have been rearranged and regrouped wherever necessary. In terms of our Report of even date For K.G.Somani & Co. For Bansal & Co. For and on behalf of the Board Chartered Accountants Chartered Accountants Bhuvnesh Maheshwari D.S.Rawat B.R. Raghunandan H.D.Khunteta P. Uma Shankar Partner Partner Company Secretary Director (Finance) Chairman & Managing Director M.No. : 88155 M.No. : 83030 Firm Reg. No.: 006591N Place: New Delhi Date: 19 Firm Reg. No.: 001113N th May, 2010 105
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CORPORATE OFFICE ZONAL OFFICES REGI
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2 CONSISTENT GROWTH OVER 10 YEARS P
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4 MISSION Mission & Objectives 41st
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6 PERFORMANCE HIGHLIGHTS 41st ANNUA
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8 ACKNOWLEDGEMENTS 41st ANNUAL REPO
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10 41st ANNUAL REPORT 2009-10 82(3)
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12 41st ANNUAL REPORT 2009-10 11. A
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14 41st ANNUAL REPORT 2009-10 As me
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16 Shri Venugopal N. Dhoot Dr. Devi
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18 SHRI DEVENDER SINGH Government N
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20 To The Shareholders, The Directo
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22 crore and Fixed Assets of Rs.89.
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24 (DSM), Municipal DSM, Bachat Lam
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26 Sl. Programme No. of No. of No.
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28 21.3 Four quarterly review meeti
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30 Electricity Department of Manipu
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32 41st ANNUAL REPORT 2009-10 TABLE
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40 The performance orientation buil
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42 As a listed company and a good c
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44 (ii) The terms of reference of t
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46 3.1.8 FPO Committee During the y
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48 the Company are published in lea
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50 (xi) Distribution of Shareholdin
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52 SOURCES OF FUNDS Shareholders’
Page 56 and 57: 54 Authorised SCHEDULE ‘1’ CAPI
Page 58 and 59: 56 88th Series - 8.65% Redeemable a
Page 60 and 61: 58 SCHEDULE- ‘5’ FIXED ASSETS A
Page 62 and 63: 60 SCHEDULE ‘8’ DEFERRED TAX LI
Page 64 and 65: 62 SCHEDULE ‘11’ OPERATING INCO
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Page 68 and 69: 66 15. Auditors’ Remuneration inc
Page 70 and 71: 68 25. Subsequent to settlement of
Page 72 and 73: 70 Changes in the Fair value of Pla
Page 74 and 75: 72 Rs. In Lacs. Particulars As at N
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Page 78 and 79: 76 In terms of our Report of even d
Page 80 and 81: 78 To The Members of Rural Electrif
Page 82 and 83: 80 by our audit and in the immediat
Page 84 and 85: 82 COMMENTS OF THE COMPTROLLER & AU
Page 86 and 87: 84 CONSOLIDATED SOURCES OF FUNDS Sh
Page 88 and 89: 86 CONSOLIDATED Authorised SCHEDULE
Page 90 and 91: 88 CONSOLIDATED 88th Series - 8.65%
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Page 98 and 99: 96 CONSOLIDATED SCHEDULE ‘17’ C
Page 100 and 101: 98 CONSOLIDATED 21. Disclosure in r
Page 102 and 103: 100 CONSOLIDATED Amounts recognized
Page 104 and 105: 102 CONSOLIDATED 35. The Corporatio
Page 108 and 109: 106 AUDITORS’ REPORT TO THE BOARD
Page 110 and 111: 108 ADDRESSES OF REC OFFICES Sl. RE
Page 112 and 113: 110 Sl. REC Offices Addresses Telep
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REC- 1-51.p65 - Rural Electrification Corporation Ltd.

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