Atul-2009-10

Corporate Identity Serving Diverse Industries Purpose and Values Overview by the Chairman Operational Highlights Financial Analysis Research and Technology

Safety, HealthandEnvironment Serving the Society Directors’ Report Management Discussion andAnalysis Report on Corporate Governance

Financial Statements

Cash Flow Statement

for the year ended March 31,

2010

(contd)

(C) Cash Flow From Financing Activities

Proceeds from long term borrowings

(69.42)

36.53

Add: Exchange rate difference

6.73

(25.90)

Proceeds from long term borrowings (adjusted)

(62.70)

10.63

Proceeds | (repayments) of working capital loans (net)

(7.58)

(68.44)

Proceeds | (repayments) of unsecured borrowings (net)

3.87

(28.58)

Total proceeds from borrowings

(66.40)

(86.38)

Interest paid

(25.07)

(39.01)

Dividend on equity shares (including corporate dividend tax)

(10.33)

(10.32)

Net cash (used in) | flow from financing activities C

(101.80)

(135.71)

Net change in cash and cash equivalents A+B+C

(8.46)

(0.05)

Cash and cash equivalents (opening balance)

23.30

23.35

Cash and Cash equivalents (closing Balance)

14.84

23.30

(8.46)

(0.05)

Notes to the Cash Flow Statement for the year ended March 31, 2010:

1 The Cash Flow Statement has been prepared under the ‘‘Indirect Method“ set out in AS - 3 “Cash Flow Statement”

referred to in The Companies Accounting Standard Rules, 2006.

2 Cash and Cash equivalents represent cash and bank balances only.

3 Cash and Cash equivalents include Rs 2.60 crores (Previous year Rs 1.92 crores) which are not available for use by

the Company. (Refer Schedule 7 in the financial Statements)

4 Previous year’s figures have been regrouped wherever necessary to conform to this year’s classification.

(Rs crores)

Particulars

2009-10

2008-09

As per our attached report of even date

For and on behalf of the Board of Directors

For Dalal and Shah

Firm Registration No 102020W

G S Patel

Sunil S Lalbhai

Chartered Accountants

B S Mehta

Chairman and Managing

H S Shah

Director

S M Datta

S Venkatesh

R A Shah

Partner

T R Gopi Kannan V S Rangan

Samveg A Lalbhai

Membership No 037942

President, Finance and

B N Mohanan

Managing Director

Mumbai

Company Secretary

Directors

Mumbai

July 19, 2010