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Cash flow Statement for the year ended March 31, 2017 ` in Crores

Particulars Year ended Year ended


31st March, 2017 31st March, 2016
A Cash flow from operating activities
Profit before tax 665.70 538.69
Adjustment to reconcile profit before tax to net cash flows :
Depreciation and amortisation expenses 97.07 88.07
Loss on sale/discard of property, plant and equipment and intangible asssets 0.35 0.04
Employee stock option scheme 1.60 0.49
Profit on transfer of Companys paint division relating to 4 wheeler passenger cars and
SUVs, 3 wheelers and related ancillaries (refer note 26) (86.67) -
Impairment in subsidiary (refer note 26) 28.00 -
Guarantee income (2.13) (0.91)
Unrealised foriegn exchange (gain)/loss - (net) 0.07 (1.27)
Finance costs 7.41 17.05
Interest income (3.20) (6.23)
Net gain on sale of mutual fund investments (26.99) (16.81)
Fair value gain on mutual fund investments (2.97) (0.75)
Operating profit before working capital changes 678.24 618.37
Adjustments for :
Increase/(decrease) in loans, deposits and other financial assets 1.70 (0.21)
Decrease in trade receivables (20.99) (27.05)
Decrease in other current and non current assets (18.84) (0.15)
Decrease in inventories (197.77) (41.72)
Increase in trade payables 93.43 127.77
Increase in other financial liabilities 3.65 25.14
Increase/(decrease) in provisions 0.48 (0.42)
Increase in other current and non current liabilities 10.23 8.03
Cash generated from operations 550.13 709.76
Direct taxes paid (net of refund) (212.13) (174.21)
Net cash flow from operating activities 338.00 535.55
B Cash Flow from investing activities
Purchase of Property, plant and equipment and intangible assets including capital work in
progress (247.42) (105.36)
Proceeds from sale of property, plant and equipment and intangible assests 0.75 1.00
Interest received 3.79 11.06
Investment in joint venture and subsidiaries (106.57) (17.30)
Loan given to subsidiary - (10.00)
Proceeds from transfer of Companys paint division relating to 4 wheeler passenger cars
and SUVs, 3 wheelers and related ancilliaries (refer note 26) 90.00 -
Purchase of current investments (net) (37.40) (147.69)
Proceeds from maturity of deposits 32.88 46.17
Net cash used in investing activities (263.97) (222.12)
C Cash flow from financing activities
Proceeds from issuance of equity share capital 0.01 0.02
Movement in short term borrowings (net) 51.61 (220.71)
Interest paid (7.30) (16.92)
Dividend paid (including net dividend distribution tax) (116.85) (108.49)
Net cash used in financing activities (72.53) (346.10)
Net increase in cash and cash equivalents [A+B+C] 1.50 (32.67)
Cash & cash equivalents at the beginning of the year 25.66 58.33
Cash & cash equivalents at the end of the year 27.16 25.66
Refer Note 8c for Components of Cash and cash Equivalents
Summary of significant accounting policies 3

The accompanying notes are an integral part of the financial statements.
As per our report on even date
For and on behalf of Board of Directors
For S.R. BATLIBOI & CO. LLP
Firm Registration Number 301003E/E300005 Kuldip Singh Dhingra - Chairman
Chartered Accountants Gurbachan Singh Dhingra - Vice-Chairman
per Bhaswar Sarkar Abhijit Roy - Managing Director & CEO
Partner Srijit Dasgupta - Director -Finance & CFO
Membership Number : 055596 Aniruddha Sen - Sr. VP & Company Secretary
Place: Kolkata
Dated : May 30, 2017

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