TCS - Analysis of Cash flows (Rs.

In Crores)

Particulars 2018 2017 2016

SOURCES OF CASH
1. Cash from operations before changes in 32885 33800 31631
working capital
(a) Increase/decrease in receivables & unbilled reve. -3274 -859 -2987
(c) Increase/decrease in payables, accruals, etc. -346 -841 -2039
(d) Others 3411 1069 82
(e) Sub-total - changes in working capital -209 -631 -4944

Income taxes paid -7609 -7946 -7578

Net Cash from Operations 25067 25223 19109

Cash flow from investing activities:

Purchase of tangible/intangible assets, net of sale -1804 -1954 -1968
Purchase of investments, net of sale 6009 -18625 -19693
Other financial assets/investments -3951 2058 14684
Dividend + Interest income 2632 1789 1827

Net Cash from investing activities 2886 -16732 -5150

Cash flow from financing activities:

Brrowings/lease obligations -43 21 -133
Buy back of shares/Purchase of shares -16042 -54 2
Interest payment -40 -20 -20
Dividend payment -10760 -10973 -9515

Net Cash from financing activities -26885 -11026 -9666

Net changes in cash during the year 1068 -2535 4293