65 / 140
63
Cash Flow Statement
for the year ended March 31, 2012 (contd)
(
`
cr)
Particulars
2011-12
2010-11
(B) CASH FLOW FROM INVESTING ACTIVITIES
Purchase of tangible assets
(102.36)
(44.43)
Purchase of intangible assets
(1.86)
-
Capital advances
0.49
(2.47)
Investments in subsidiary companies
(29.04)
(6.83)
Investments in associate companies
-
(1.47)
Investments in joint venture companies
(3.00)
-
Repayments | (disbursements) of loans
4.72
(7.47)
Long-term bank deposits
0.88
(1.17)
Short-term bank deposits
(0.39)
2.96
Sale of fixed assets
6.42
2.72
Interest received
3.31
1.22
Dividend received
1.59
5.42
Net cash used in investing activities
B
(119.24)
(51.52)
(C) CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from long-term borrowings
20.84
(61.37)
Add: Exchange rate difference
(6.08)
0.94
Proceeds from long-term borrowings (adjusted)
14.76
(60.43)
Proceeds from short-term borrowings
38.36
94.82
Total proceeds from borrowings
53.12
34.39
Payment of Unclaimed dividend
(0.08)
-
Interest paid
(37.04)
(25.98)
Dividend on Equity Shares (including dividend distribution tax)
(15.42)
(13.79)
Net cash used in financing activities
C
0.58
(5.38)
Net change in cash and cash equivalents
A+B+C
1.84
3.30
Opening balance - cash and cash equivalents
13.41
10.11
Closing balance - cash and cash equivalents
15.25
13.41
1.84
3.30
Notes to the Cash Flow Statement for the year ended March 31, 2012:
1. The Cash Flow Statement has been prepared under the ‘Indirect Method’ set out in Accounting Standard-3
‘Cash Flow Statement’ referred to in The Companies Accounting Standard Rules, 2006.
2. In terms of Joint Venture Agreement with IB Industriechemie Beteiligungs GmbH, the Company has subscribed
2918750 shares at price of
`
21 each, by transferring technical know-how (
`
1.63 cr), inventories (
`
0.26 cr),
trade receivables (
`
1.24 cr) being non-cash consideration not considered in the above Cash Flow Statement.
The remaining amount (
`
3.00 cr) was paid in cash.
As per our attached report of even date
For and on behalf of the Board of Directors
For Dalal & Shah
Firm Registration No. 102020W
Sunil S Lalbhai
Chartered Accountants
Chairman & Managing Director
G S Patel
S S Baijal
B S Mehta
H S Shah
S Venkatesh
S M Datta
Partner
R A Shah
Samveg A Lalbhai
Membership No. F-037942
T R Gopi Kannan
V S Rangan
Managing Director
Mumbai
President, Finance &
B N Mohanan
Mumbai
May 15, 2012
Company Secretary
Directors
May 15, 2012