Annual Report 2008 za el ea ee (CASH FLOW STATEMENT FOR THE YEAR ENDED SEPTEMBER 30, 2008 2008 2007 Rupees Rupees ‘CASH FLOW FROM OPERATION Profit before taxation 107,731,617 19,724,109 Adjustment for: Depreciation ‘31,430,076 28,087,880 Share of (profi) / loss from associate (36,020,143) 5,762,894 Finance cost 19,765,448 27,867,057 Income on disposal of property, plant and equipment (685,552) (1,766,147)| 14,489,829 59,951,684 Operating cashflow before working capital changes 122,221,446 79,675,793 Changes in working capital (Increase) / Decrease in current assets Stores, spares and loose tools (8,714,519) 5,475,288 Stock-in-trade (333,172,797) 126,528,474 Trade debts (25,152,687) (30,761,306) Loans and advances 9,992,134 (28,182,323}| Other receivables 3,777 5,729,755 Increase in current liabilities: ‘Trade ond other payables 341,606,939 95,939,584 (15,437,153) 174,729,472 Cosh generated from operations eases ZED ACSaS ees (11,671,506) (13,469,500) pa (1,326) 1,430,346 Pinas oes pa (17,226,039) (30,879,995)] Dividend paid 723 (41,079,448)| (28,898,148) (83,998,597) Net cash flow from operating activities 77,886,145 170,406,068 15rea Etre era) 2008 2007 Rupees Rupees ‘CASH FLOWS FROM INVESTING ACTIVITIES: Fixed copital expenditure including capital work in progress (48,766,135) | [ (78,208,688) Proceeds from disposal of property, plant and equipment 1,300,725 2,159,700, Investment in associate companies {5,000,000) | | (19,632,800) Investment in open-ended mutval fund (43,000,000) ; Long term deposits 5,119,236 (5,335,762) Net cash (used in) investing activities (90,346,174) _ (101,077,550) ‘CASH FLOWS FROM FINANCIAL ACTIVITIES Receipis from issuance of right share 36,712,642 ; Receipis of shor-ierm borrowings 413,700,685 | | 526,847,425 Re-payment of shor-term borrowings (355,031,863) | | (631,864,787) liars finance (51,326,065) 51,326,065 Repayment of long term finance (21,813,686) | |_ (15,111,187) Net cash from / (used in) financing actives 22,241,713 __(68,802,484) Netincrease in cash and cash equivalents 9,781,684 586,634 Cash & cash equivalent of the beginning of the year 41,210,231 40,623,597 Cash & cash equivalent ofthe end of the year 50,991,915 1,210,731 The annexed notes form an integral port of these accounts. ‘AHMED ALI MOHAMMAD AMIN MOHAMMAD OMAR AMIN BAWANY Chief Exec Vice Chairman 16