consolidated statement of changes in equity

consolidated statement of cash flows

for the year ended december 31, 2017 for the year ended december 31, 2017
(Amounts in thousand) Reserve (Amounts in thousand)
Capital Revenue Note 2017 2016
Share Share Exchange Hedging Remeasurement Unappropriated Total -----------------Rupees-----------------
capital premium revaluation reserve of post profit
reserve employment
benefits
Cash flows from operating activities
--------------------------------------------------------------------------- Rupees -------------------------------------------------------------------------
Cash generated from operations 34 29,532,348 7,979,703
Balance as at January 1, 2017 13,309,323 3,132,181 10,802 - (26,646) 25,222,724 41,648,384
Retirement and other service benefits paid (45,888) (43,617)
Finance cost paid (2,651,371) (3,430,269)
Transactions with owners Taxes paid (3,994,219) (3,498,254)
Long term loans and advances - net (13,898) 39,716
Shares issued upon exercise of conversion
option (note 15.4) 43,670 252,723 - - - - 296,393
Net cash generated from operating activities 22,826,972 1,047,279

Dividends: Cash flows from investing activities

- Final 2016: Rs. 2.50 per share - - - - - (3,338,251) (3,338,251)
- 1st interim 2017: Rs. 2.50 per share - - - - - (3,338,251) (3,338,251) Purchases of property, plant and equipment and intangibles (3,900,123) (3,010,417)
- 2nd interim 2017: Rs. 3.00 per share - - - - - (4,005,898) (4,005,898) Proceeds from disposal of :
- - - - - (10,682,400) (10,682,400) - property, plant & equipment 704,092 11,983
- investments - net - 1,104,129
Total comprehensive income for Income on deposits / other financial assets 64,779 217,833
the year ended December 31, 2017
Net cash utilised in investing activities (3,131,252) (1,676,472)
Profit for the year - - - - - 11,155,622 11,155,622
Other comprehensive income: Cash flows from financing activities
- exchange revaluation - - 72,381 - - - 72,381
- remeasurements, net of tax - - - - (20,669) - (20,669) Proceeds from:
- - 72,381 - (20,669) 11,155,622 11,207,334
- long term borrowings 1,500,000 25,132,253
- short term borrowings - 724,700
Balance as at December 31, 2017 13,352,993 3,384,904 83,183 - (47,315) 25,695,946 42,469,711
Repayments of :
Balance as at January 1, 2016 13,309,323 3,132,181 13,805 (4,536) (40,310) 25,921,266 42,331,729
- long term borrowings (5,085,439) (26,711,653)
- short term borrowings (800,000) -
Transactions with owners Dividends paid (10,677,051) (9,968,554)
Net cash utilised in financing activities (15,062,490) (10,823,254)
Dividends:
- Final 2015: Rs. 3.00 per share - - - - - (3,992,797) (3,992,797) Net increase / (decrease) in cash and cash equivalents 4,633,230 (11,452,447)
- 1st interim 2016: Rs. 2.00 per share - - - - - (2,661,865) (2,661,865)
- 2nd interim 2016: Rs. 2.50 per share - - - - - (3,327,333) (3,327,333) Cash and cash equivalents at beginning of the year 14,365 11,469,815
- - - - - (9,981,995) (9,981,995)
Total comprehensive income for Exchange gain translation 72,381 (3,003)
the year ended December 31, 2016
Cash and cash equivalents at end of the year 35 4,719,976 14,365
Profit for the year - - - - - 9,283,453 9,283,453
Other comprehensive income:
- exchange revaluation - - (3,003) - - - (3,003)
The annexed notes from 1 to 47 form an integral part of these consolidated financial statements.
- cash flow hedges, net of tax - - - 4,536 - - 4,536
- remeasurements, net of tax - - - - 13,664 - 13,664
- - (3,003) 4,536 13,664 9,283,453 9,298,650

Balance as at December 31, 2016 13,309,323 3,132,181 10,802 - (26,646) 25,222,724 41,648,384

The annexed notes from 1 to 47 form an integral part of these consolidated financial statements.

Atif Kaludi Ruhail Mohammed Ghias Khan Atif Kaludi Ruhail Mohammed Ghias Khan
Chief Financial Officer Chief Executive Chairman Chief Financial Officer Chief Executive Chairman
89 engro fertilizers Annual Report 2017 90