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

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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 Firm Reg. No.: 001113N
Place: New Delhi
Date: 19 th May, 2010
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 ST MARCH 2010
PARTICULARS Year ended 31.03.2010
(Rs. in Lacs)
Year ended 31.03.2009
A. Cash Flow from Operating Activities :
Net Profit before Tax
Adjustments for:
2,64,919.43 1,92,010.63
1. Profit / Loss on Sale of Fixed Assets -1.67 -1.03
2. Depreciation 215.50 136.16
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
6. Profit on sale/income of investment in units of “small
-107.51 -0.37
is Beautiful Fund” -67.11 -11.02
7. Loss/(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 -
Operating profit before working Capital Charges :
Increase / Decrease :
2,64,976.72 1,91,334.59
1. Loans -15,07,138.98 -12,06,730.45
2. Other Current Assets -12,090.02 4,072.99
3. Other Loans & Advances 1,73,283.98 -4,330.83
4. Current Liabilities -1,22,135.08 64,032.91
Cash outflow from Operations -12,03,103.38 -9,51,620.79
1. Advance Income Tax Paid -67,429.97 -48,109.26
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
-12,68,520.42 -9,99,864.82
1. Sale of Fixed Assets 8.90 13.40
2. Purchase of Fixed Assets ( incl. Advance for Capital exp.)
3. Redemption of 8% Government of Madhya Pradesh
-1,123.36 -448.74
Power Bonds-II 9,432.00 14,148.00
4. Redemption of 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. Dividend from REC Power Distribution Company Limited 5.00 -
Net Cash used in investing Activities
C. Cash Flow from Financial Activities
8,565.65 13,723.68
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 -49,572.92 63,300.35
Cash & Cash Equivalents as at 1st April, 2009 1,88,604.14 1,25,303.79
Cash & Cash Equivalents as at 31st March, 2010 1,39,031.22 1,88,604.14
Net Increase/Decrease in Cash & Cash Equivalents
Note : Previous year figures have been rearranged and regrouped wherever necessary.
-49,572.92 63,300.35